Salamander Realty Corp FY2020 filing

Not tax-deductible

Long Is City, NYMutual-benefit / member-servingCommunity DevelopmentEIN 46-3193847Revenue $386K in FY2020

On file with the IRS3553 24th St, 11106-4416 · Long Is City, NYTax-exempt since Oct 2014

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Established as a nominee of the union to hold title to real estate.

Mission: Form 990 Part I, line 1

Before you give

FY2020 · 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 $99K a year · 21% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
7 mo
of spending, in cash
Looks good: 7.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$10.8M
98% of total assets
Concern: liabilities are 98% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 2 voting members
Concern: none of 2 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$386K
Spent
$468K
Net assets
$271K
By yearFY2020–FY2025
Revenue
$386K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$386K
FY2021$336K
FY2022$336K
FY2023$438K
FY2024$564K
FY2025$753K
Expenses
$468K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$468K
FY2021$539K
FY2022$434K
FY2023$588K
FY2024$712K
FY2025$664K
Net assets
$271K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$271K
FY2021$68K
FY2022−$30K
FY2023−$179K
FY2024−$328K
FY2025−$238K

From the FY2020 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2020 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 Oct 2014.

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

Who runs it and what they're paid

2 people listed on the 990.

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Secretary Treasurer
$0Pt VII · Sec A
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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

Acquires and holds title to real estate for the Union.

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Provided by the organization

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1 program · in their own filed words · FY2020
01

Established as a nominee of the union to hold title to real estate.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$386K
Ln 12
Fees for servicesLn 2g$336K
Other incomeLn 4–11$50K
Investment incomeLn 3$5
Money outPt IX
$468K
Ln 25
Owns and owesPt X
$271K
net assets · Ln 32
Cash and savingsLn 1–2$279K
Total assetsLn 16$11.0M
LiabilitiesLn 26$10.8M
PeoplePt VI, VII
2
listed · VII A
PaidVII A0
Voting boardVI 1a2
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$336K
Investment incomeLn 3$5
Other incomeLn 4–11$50K
Total revenueLn 12$386K
Assets in detailPt X, end of year
CashLn 1$269K
SavingsLn 2$10K
Cash and savings togetherLn 1–2$279K
Land, buildings, equipmentLn 10c$10.8M
Total assetsLn 16$11.0M
LiabilitiesLn 26$10.8M
Net assetsLn 32$271K
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 FY20End FY20
Cash and savingsLn 1–2$361K$279K
Land, buildings, equipmentLn 10c$10.7M$10.8M
Total assetsLn 16$11.1M$11.0M
LiabilitiesLn 26$10.7M$10.8M
Net assetsLn 32$353K$271K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$8K
Accounting feesLn 11c$5K
Office expensesLn 13$667
OccupancyLn 16$345K
Depreciation, depletion and amortizationLn 22$110K
Total functional expensesLn 25$468K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $753K$664K$90K−$238K 990 PDF
FY2024 $564K$712K−$149K−$328K 990 PDF
FY2023 $438K$588K−$149K−$179K 990 PDF
FY2022 $336K$434K−$98K−$30K 990 PDF
FY2021 $336K$539K−$202K$68K 990 PDF
FY2020 Viewing $386K$468K−$82K$271K 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 FY2020 990 (6 parts)
Part I · Summary $386,005 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $336,000$336,000
I-10 Investment incomePrior year $5$5
I-11 Other revenuePrior year $0$50,000
I-12 Total revenuePrior year $336,005$386,005
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 $516,137$468,246
I-18 Total expensesPrior year $516,137$468,246
I-19 Revenue less expensesPrior year −$180,132−$82,241
Part VI · Governance 0 of 2 board members independent, 1 to look at
VI-1a Voting members of the governing body2
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 $386,005 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $336,000$336,000
VIII-3 Investment incomeExcluded from tax $5$5
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $50,000$50,000
VIII-12 Total revenueRelated to mission $386,000 · Unrelated business $0 · Excluded from tax $5$386,005
Part IX · Statement of functional expenses $468,246 across 5 lines filed
IX-11b Legal fees$7,583
IX-11c Accounting fees$5,000
IX-13 Office expenses$667
IX-16 Occupancy$344,684
IX-22 Depreciation, depletion and amortization$110,312
IX-25 Total functional expenses$468,246
Part X · Balance sheet $11,045,224 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $351,340$269,052
X-2 Savings and temporary cash investmentsStart of year $10,030$10,035
X-10c Land, buildings and equipment, netStart of year $10,722,519$10,766,137
X-16 Total assetsStart of year $11,083,889$11,045,224
X-25 Other liabilitiesStart of year $6,109,961$6,410,478
X-26 Total liabilitiesStart of year $10,730,999$10,774,575
X-27 Net assets without donor restrictionsStart of year $352,890$270,649
X-32 Total net assets or fund balancesStart of year $352,890$270,649
X-33 Total liabilities and net assetsStart of year $11,083,889$11,045,224
Part XI · Reconciliation of net assets $270,649 net assets at year end
XI-1 Total revenue$386,005
XI-2 Total expenses$468,246
XI-3 Revenue less expenses−$82,241
XI-4 Net assets at start of year$352,890
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$270,649

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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