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Local 25 Permanent Building Corp

Not tax-deductible

Washington, DCMutual-benefit / member-servingHuman Services EIN 27-0769968Revenue $417K in FY2024

On file with the IRS901 K St Nw Ste 200, 20001-4223 · Washington, DCTax-exempt since Nov 2009

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The corporation is organized to hold title to property, whether real, personal or mixed, to collect income therefrom, and to turn over the entire amount thereof,less expenses, to a related labor organization.

Mission: Form 990 Part I, line 1

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 $58K a year · 15% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
7 mo
of spending, in cash
Looks good: 7.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$417K
+3% vs prior year
Spent
$1.1M
Net assets
$4.3M
By yearFY2020–FY2024
Revenue
$417K
FY2024▲ +3%
Tap a bar for its year
Revenue by fiscal year
FY2020$388K
FY2021$387K
FY2022$387K
FY2023$404K
FY2024$417K
Expenses
$1.1M
FY2024▲ +568%
Tap a bar for its year
Expenses by fiscal year
FY2020$164K
FY2021$157K
FY2022$160K
FY2023$158K
FY2024$1.1M
Net assets
$4.3M
FY2024▼ -13%
Tap a bar for its year
Net assets by fiscal year
FY2020$5.1M
FY2021$5.3M
FY2022$4.7M
FY2023$4.9M
FY2024$4.3M

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2009.

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

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Paul Schwalb
Executive Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Local 25 Permanent Building 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

Manages property and income for a related labor union.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

The corporation provided office space for use by a related labor organization.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$417K
Ln 12
Fees for servicesLn 2g$387K
Investment incomeLn 3$25K
Other incomeLn 4–11$5K
Money outPt IX
$1.1M
Ln 25
Owns and owesPt X
$4.3M
net assets · Ln 32
Cash and savingsLn 1–2$648K
Total assetsLn 16$4.3M
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$387K
Investment incomeLn 3$25K
Other incomeLn 4–11$5K
Total revenueLn 12$417K
Assets in detailPt X, end of year
CashLn 1$16K
SavingsLn 2$631K
Cash and savings togetherLn 1–2$648K
Land, buildings, equipmentLn 10c$3.6M
Total assetsLn 16$4.3M
LiabilitiesLn 26$0
Net assetsLn 32$4.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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$1.1M$648K
Land, buildings, equipmentLn 10c$3.8M$3.6M
Total assetsLn 16$4.9M$4.3M
LiabilitiesLn 26$0$0
Net assetsLn 32$4.9M$4.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$4K
Depreciation, depletion and amortizationLn 22$152K
Other expenses (24a–d)Ln 24$900K
Total functional expensesLn 25$1.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $417K$1.1M−$639K$4.3M 990 PDF
FY2023 $404K$158K$246K$4.9M 990 PDF
FY2022 $387K$160K$227K$4.7M 990 PDF
FY2021 $387K$157K$230K$5.3M 990 PDF
FY2020 $388K$164K$224K$5.1M 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 FY2024 990 (6 parts)
Part I · Summary $416,877 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $387,000$387,000
I-10 Investment incomePrior year $16,697$24,877
I-11 Other revenuePrior year $0$5,000
I-12 Total revenuePrior year $403,697$416,877
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 $158,042$1,056,086
I-18 Total expensesPrior year $158,042$1,056,086
I-19 Revenue less expensesPrior year $245,655−$639,209
Part VI · Governance 0 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members0
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $416,877 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $387,000$387,000
VIII-3 Investment incomeExcluded from tax $24,877$24,877
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $5,000$5,000
VIII-12 Total revenueRelated to mission $387,000 · Unrelated business $0 · Excluded from tax $29,877$416,877
Part IX · Statement of functional expenses $1,056,086 across 3 lines filed
IX-11c Accounting fees$4,035
IX-22 Depreciation, depletion and amortization$152,051
IX-24 Other expenses (24a–d)$900,000
IX-25 Total functional expenses$1,056,086
Part X · Balance sheet $4,278,530 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $20,491$16,453
X-2 Savings and temporary cash investmentsStart of year $1,119,244$631,120
X-10c Land, buildings and equipment, netStart of year $3,783,007$3,630,957
X-16 Total assetsStart of year $4,922,742$4,278,530
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $4,922,742$4,278,530
X-32 Total net assets or fund balancesStart of year $4,922,742$4,278,530
X-33 Total liabilities and net assetsStart of year $4,922,742$4,278,530
Part XI · Reconciliation of net assets $4,278,530 net assets at year end
XI-1 Total revenue$416,877
XI-2 Total expenses$1,056,086
XI-3 Revenue less expenses−$639,209
XI-4 Net assets at start of year$4,922,742
XI-8 Prior period adjustments−$5,003
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,278,530

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

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