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42 Realty Corp FY2023 filing

Not tax-deductible

East Windsor, CTMutual-benefit / member-serving EIN 06-0925440Revenue $14K in FY2023

On file with the IRS20 Craftsman Rd, 06088-9685 · East Windsor, CTTax-exempt since Aug 1993

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To act as a real estate holding company for a local union. Rents 100% of property to affiliated exempt organizations.

Mission: Form 990 Part I, line 1

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average deficit $179K a year · 259% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
4 mo
of spending, in cash
Looks good: 4.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$4.8M
116% of total assets
Concern: liabilities are 116% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 9 voting members
Concern: none of 9 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$14K
-50% vs prior year
Spent
$264K
Net assets
−$648K
By yearFY2020–FY2025
Revenue
$14K
FY2023▼ -50%
Tap a bar for its year
Revenue by fiscal year
FY2020$52K
FY2021$284K
FY2022$28K
FY2023$14K
FY2024$16K
FY2025$18K
Expenses
$264K
FY2023▲ +10%
Tap a bar for its year
Expenses by fiscal year
FY2020$136K
FY2021$273K
FY2022$241K
FY2023$264K
FY2024$291K
FY2025$280K
Net assets
−$648K
FY2023▼ -63%
Tap a bar for its year
Net assets by fiscal year
FY2020−$197K
FY2021−$185K
FY2022−$398K
FY2023−$648K
FY2024−$923K
FY2025−$1.2M

From the FY2023 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1993.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Derek Santa Lucia
Vice President/ Bus Rep (p)
$0Pt VII · Sec A
Michael F Flanagan
Executive Board
$0Pt VII · Sec A
Fred Sharpe JR
Executive Board
$0Pt VII · Sec A
Jose Ramos
Vice President
$0Pt VII · Sec A
Michael Treadwell
Business Mgr/Fin.sec.
$0Pt VII · Sec A
Patrick Dowland
Executive Board
$0Pt VII · Sec A
Pawel Robak JR
Rec.sec./Asst. Bus. Mgr
$0Pt VII · Sec A
See 42 Realty Corp executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Owns and rents properties exclusively to affiliated tax-exempt groups.

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1 program · in their own filed words · FY2023
01

Maintain the land and building located at 379 wetherell street, manchester, CT which is 100% occupied by related not for profit organizations.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$14K
Ln 12
Fees for servicesLn 2g$14K
Money outPt IX
$264K
Ln 25
Owns and owesPt X
−$648K
net assets · Ln 32
Cash and savingsLn 1–2$87K
Total assetsLn 16$4.2M
LiabilitiesLn 26$4.8M
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$14K
Total revenueLn 12$14K
Assets in detailPt X, end of year
CashLn 1$87K
Cash and savings togetherLn 1–2$87K
Land, buildings, equipmentLn 10c$4.1M
Total assetsLn 16$4.2M
LiabilitiesLn 26$4.8M
Net assetsLn 32−$648K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$252K$87K
Land, buildings, equipmentLn 10c$4.2M$4.1M
Total assetsLn 16$4.4M$4.2M
LiabilitiesLn 26$4.8M$4.8M
Net assetsLn 32−$398K−$648K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$14K
OccupancyLn 16$146K
Depreciation, depletion and amortizationLn 22$101K
InsuranceLn 23$4K
Other expenses (24a–d)Ln 24$177
Total functional expensesLn 25$264K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $18K$280K−$262K−$1.2M 990 PDF
FY2024 $16K$291K−$275K−$923K 990 PDF
FY2023 Viewing $14K$264K−$250K−$648K 990 PDF
FY2022 $28K$241K−$213K−$398K 990 PDF
FY2021 $284K$273K$12K−$185K 990 PDF
FY2020 $52K$136K−$83K−$197K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $14,146 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $28,291$14,146
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $28,291$14,146
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $241,105$264,073
I-18 Total expensesPrior year $241,105$264,073
I-19 Revenue less expensesPrior year −$212,814−$249,927
Part VI · Governance 0 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $14,146 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $14,146$14,146
VIII-12 Total revenueRelated to mission $14,146 · Unrelated business $0 · Excluded from tax $0$14,146
Part IX · Statement of functional expenses $264,073 across 5 lines filed
IX-11c Accounting fees$13,618
IX-16 Occupancy$145,566
IX-22 Depreciation, depletion and amortization$101,006
IX-23 Insurance$3,706
IX-24 Other expenses (24a–d)$177
IX-25 Total functional expenses$264,073
Part X · Balance sheet $4,155,440 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $252,176$87,107
X-10c Land, buildings and equipment, netStart of year $4,162,735$4,068,333
X-16 Total assetsStart of year $4,414,911$4,155,440
X-25 Other liabilitiesStart of year $4,813,168$4,803,624
X-26 Total liabilitiesStart of year $4,813,168$4,803,624
X-27 Net assets without donor restrictionsStart of year −$398,257−$648,184
X-32 Total net assets or fund balancesStart of year −$398,257−$648,184
X-33 Total liabilities and net assetsStart of year $4,414,911$4,155,440
Part XI · Reconciliation of net assets −$648,184 net assets at year end
XI-1 Total revenue$14,146
XI-2 Total expenses$264,073
XI-3 Revenue less expenses−$249,927
XI-4 Net assets at start of year−$398,257
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$648,184

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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