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Ibew 102 Holding Corp

Not tax-deductible

Parsippany, NJMutual-benefit / member-servingEIN 23-7133880Revenue $62K in FY2024

On file with the IRS50 Parsippany Road, 07054-2740 · Parsippany, NJTax-exempt since Apr 1997

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The organization is a title Holding entity that holds the real estate utilized by local union #102,Ibew for its hiring hall and offices

Run by 2 volunteers.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $121K a year · 100% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Liabilities
$4.4M
51% of total assets
Fine: liabilities are 51% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$62K
-20% vs prior year
Spent
$0
Net assets
$4.2M
By yearFY2020–FY2024
Revenue
$62K
FY2024▼ -20%
Tap a bar for its year
Revenue by fiscal year
FY2020$366K
FY2021$165K
FY2022−$65K
FY2023$77K
FY2024$62K
Expenses
$0
FY2024
Tap a bar for its year
Expenses by fiscal year
FY2020$0
FY2021$0
FY2022$0
FY2023$0
FY2024$0
Net assets
$4.2M
FY2024▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.9M
FY2021$4.1M
FY2022$4.0M
FY2023$4.1M
FY2024$4.2M

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 1997.

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

Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
Eric Tscherne
Executive Board Chairman
$0Pt VII · Sec A
Michael D Pulsinelli
Executive Board Director
$0Pt VII · Sec A
Barry Checinski
Executive Board Director
$0Pt VII · Sec A
Henry Lora
Executive Board Director
$0Pt VII · Sec A
Kaine Krawchuck
Executive Board Director
$0Pt VII · Sec A
Anthony Marinello
Executive Board Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Ibew 102 Holding 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 15aYes

Programs and updates

Owns and manages property for a local union's hiring hall and offices.

Questions for Ibew 102 Holding Corp

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Provided by the organization

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1 program · in their own filed words · FY2024
01

Collects income from real estate and transfers all income less expenses to Local 102 I.B.E.W.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$62K
Ln 12
Other incomeLn 4–11$38K
Investment incomeLn 3$24K
Money outPt IX
$0
Ln 25
Owns and owesPt X
$4.2M
net assets · Ln 32
Cash and savingsLn 1–2$1.5M
Total assetsLn 16$8.5M
LiabilitiesLn 26$4.4M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$24K
Other incomeLn 4–11$38K
Total revenueLn 12$62K
Assets in detailPt X, end of year
SavingsLn 2$1.5M
Cash and savings togetherLn 1–2$1.5M
Land, buildings, equipmentLn 10c$7.0M
Other assetsLn 15$31K
Total assetsLn 16$8.5M
LiabilitiesLn 26$4.4M
Net assetsLn 32$4.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 62
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$1.0M$1.5M
Land, buildings, equipmentLn 10c$7.4M$7.0M
Total assetsLn 16$8.5M$8.5M
LiabilitiesLn 26$4.4M$4.4M
Net assetsLn 32$4.1M$4.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$0$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $62K$0$62K$4.2M 990 PDF
FY2023 $77K$0$77K$4.1M 990 PDF
FY2022 −$65K$0−$65K$4.0M 990 PDF
FY2021 $165K$0$165K$4.1M 990 PDF
FY2020 $366K$0$366K$3.9M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $61,605 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $15,807$23,777
I-11 Other revenuePrior year $61,008$37,828
I-12 Total revenuePrior year $76,815$61,605
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $0$0
I-18 Total expensesPrior year $0$0
I-19 Revenue less expensesPrior year $76,815$61,605
Part VI · Governance 6 of 6 board members independent, no flags
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $61,605 across 4 lines filed
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $23,777$23,777
VIII-6 Net rental income or lossExcluded from tax $41,398$41,398
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $0 · Unrelated business $0 · Excluded from tax −$3,570−$3,570
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $61,605$61,605
Part IX · Statement of functional expenses $0 across 1 line filed
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$0
Part X · Balance sheet $8,543,994 assets, 12 lines filed
X-2 Savings and temporary cash investmentsStart of year $1,044,236$1,453,927
X-9 Prepaid expenses and deferred chargesStart of year $25,012$23,890
X-10c Land, buildings and equipment, netStart of year $7,359,843$7,035,495
X-15 Other assetsStart of year $43,014$30,682
X-16 Total assetsStart of year $8,472,105$8,543,994
X-17 Accounts payable and accrued expensesStart of year $29,753$44,607
X-19 Deferred revenueStart of year $19,777$15,207
X-25 Other liabilitiesStart of year $4,328,057$4,328,057
X-26 Total liabilitiesStart of year $4,377,587$4,387,871
X-27 Net assets without donor restrictionsStart of year $4,094,518$4,156,123
X-32 Total net assets or fund balancesStart of year $4,094,518$4,156,123
X-33 Total liabilities and net assetsStart of year $8,472,105$8,543,994
Part XI · Reconciliation of net assets $4,156,123 net assets at year end
XI-1 Total revenue$61,605
XI-2 Total expenses$0
XI-3 Revenue less expenses$61,605
XI-4 Net assets at start of year$4,094,518
XI-10 Net assets at end of year$4,156,123

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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