Overview
What is Local 79 Realty Corp?
Local 79 Realty Corp is a nonprofit organization based in New York City, specifically at 131 West 33rd Street, 7th Floor. Its primary role is to serve as a nominee for a union, holding the title to real estate on its behalf. This function allows the union to benefit from property ownership without directly owning it, ensuring a seamless and efficient management of real estate assets.
Is Local 79 Realty Corp legitimate?
Local 79 Realty Corp is a legitimate nonprofit organization registered as a 501(c)(2) entity. Local 79 Realty Corp 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
For more financial information, click here
What is the mission statement of Local 79 Realty Corp?
Local 79 Realty Corp serves as a nominee for the union by holding the title to real estate. The primary objective of this corporation is to act on behalf of the union in property matters, ensuring the union's interests are protected. This role allows the union to acquire, manage, and dispose of real estate without directly involving itself in the legalities and technicalities associated with property ownership. This arrangement provides the union with the necessary flexibility to focus on its core activities, while still securing a foothold in the real estate market.
Who is the CEO of Local 79 Realty Corp?
Anthony Vita is the Principal Officer of Local 79 Realty Corp.
What is the revenue of Local 79 Realty Corp?
Local 79 Realty Corp's revenue in 2022 was $720,008.
Who are the executives of Local 79 Realty Corp and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $358,515
- Other: $148,091
- Compensation: $0
- Related: $331,782
- Other: $147,270
Where can I find the form 990 for Local 79 Realty Corp?
Local 79 Realty Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Local 79 Realty Corp
Local 79 Realty Corp serves as a nominee for a union by holding the title to real estate. This entity's primary role is to act on behalf of the union, managing property-related matters. By holding the title to real estate, Local 79 Realty Corp provides a legal and financial buffer for the union, ensuring that their property interests are protected and managed effectively. This structure allows the union to focus on its core activities without the need to directly manage real estate affairs. In summary, Local 79 Realty Corp acts as a real estate intermediary for the union, safeguarding their property interests and enabling them to focus on their primary objectives.
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Impact
October, 2024
Local 79 Realty Corp plays a crucial role in supporting the activities and interests of the union by holding the title to various real estate properties. This strategic function enables the organization to provide stability and security for the union's resources, facilitating growth and community engagement. By managing these real properties, Local 79 Realty Corp contributes to community improvement in New York, enhancing the local landscape and supporting initiatives that benefit union members and the broader community. Their stewardship of real estate assets not only strengthens the union's presence but also promotes a sense of collective identity and purpose among workers in the area.
This information is meant to be a general summary of Local 79 Realty Corp. 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.
- Investment Income: $8
- Program Service Revenue: $720,000
- Gross Receipts: $720,008
Assets and Liabilities:
- Total Assets: $19,473,887
- Total Liabilities: $21,362,512
- Net Assets: -$1,888,625
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$720,000
Organization Details
Founding Year
2017
Phone
(212) 465-7900Principal Officer
Anthony Vita
Main Address
131 W 33RD STREET 7TH FLOOR, NEW YORK, NY, 10001
NTEE Category
Code: S47 - Community improvement
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