Overview
What is 2 26 50th Avenue Real Estate Co Inc?
2 26 50th Avenue Real Estate Co Inc is a nonprofit organization, specifically a real estate company, situated in Long Island City, New York. The primary purpose of this organization, as per the information provided, is to manage a two-story parking garage lot located at 2-26 50th Avenue. This lot is leased out to a third-party operator on behalf of the Plumbers Local Union No. 1, a labor organization exempt from taxation under Section 501(C)(5) of the Internal Revenue Code. The union's involvement suggests that the parking garage may serve a purpose related to its union activities.
Is 2 26 50th Avenue Real Estate Co Inc legitimate?
2 26 50th Avenue Real Estate Co Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. 2 26 50th Avenue Real Estate Co Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of 2 26 50th Avenue Real Estate Co Inc?
2) The primary mission of 2 26 50th Avenue Real Estate Co Inc, as a non-profit entity exempt from taxation under Section 501(C)(5) of the Internal Revenue Code, is to manage and lease a two-story parking garage lot to a third-party operator, acting on behalf of Plumbers Local Union No. 1. This company's role is essential in providing a convenient parking solution, contributing to the union's operations in an efficient manner.
Who is the CEO of 2 26 50th Avenue Real Estate Co Inc?
Paul O'Connor is the President of 2 26 50th Avenue Real Estate Co Inc.
What is the revenue of 2 26 50th Avenue Real Estate Co Inc?
2 26 50th Avenue Real Estate Co Inc's revenue in 2022 was $678,121.
Who are the executives of 2 26 50th Avenue Real Estate Co Inc and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $239,134
- Other: $127,815
- Compensation: $0
- Related: $210,771
- Other: $122,892
Where can I find the form 990 for 2 26 50th Avenue Real Estate Co Inc?
2 26 50th Avenue Real Estate Co Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of 2 26 50th Avenue Real Estate Co Inc
2 26 50th Avenue Real Estate Co Inc, as a nonprofit entity, is committed to a specific mission. This mission involves owning and leasing a two-story parking garage lot to a third-party operator, acting on behalf of Plumbers Local Union No. 1. This union, exempt from taxation under Section 501(C)(5) of the Internal Revenue Code, is the beneficiary of this real estate venture. The company's role is to manage this property, thereby providing a service to the union, which in turn, can utilize the space for its own purposes. This mission is a testament to 2 26 50th Avenue Real Estate Co Inc's dedication to supporting the operations of Plumbers Local Union No. 1. By managing this property effectively, the company enables the union to carry out its own activities, contributing to the wider community in the process.
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Impact
October, 2024
2 26 50th Avenue Real Estate Co Inc significantly impacts the local community in Long Island City, New York, by managing and leasing a two-story parking garage for the benefit of the Plumbers Local Union No. 1. This operation not only provides a valuable service in a densely populated area, facilitating access and convenience for residents and visitors, but it also generates revenue that supports the union's activities. By fostering a sustainable infrastructure for parking, it enhances local economic activity and contributes to community improvement efforts, providing essential resources and support for labor organization members. The presence of a dedicated parking facility in a bustling urban environment also alleviates parking challenges, further contributing to the overall quality of life in the area.
This information is meant to be a general summary of 2 26 50th Avenue Real Estate Co Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $678,121
- Gross Receipts: $678,121
Assets and Liabilities:
- Total Assets: $4,835,790
- Total Liabilities: $4,822,200
- Net Assets: $13,590
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$678,121
Organization Details
Founding Year
2014
Phone
(718) 738-7500Principal Officer
Paul O'Connor
Main Address
50-02 FIFTH ST 2ND FLOOR, LONG ISLAND CITY, NY, 111015706
NTEE Category
Code: S47 - Community improvement
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