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Local 79 Realty Corp

New York, NYMutual-benefit / member-servingSince 2017EIN 82-2946166

The purpose of the building corp is to act as nominee for the union by holding the title to real estate.

Mission: Form 990 Part I, line 1

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
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
0 of 6
filings with a surplus
Average deficit $318K a year · 51% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.7 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$20.5M
114% of total assets
Concern: liabilities are 114% 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
$764K
+3% vs prior year
Spent
$988K
Net assets
−$2.5M
By yearFY2020–FY2025
Revenue
$764K
FY2025▲ +3%
Revenue by fiscal year
FY2020$101K
FY2021$720K
FY2022$720K
FY2023$720K
FY2024$742K
FY2025$764K
Expenses
$988K
FY2025▲ +5%
Expenses by fiscal year
FY2020$929K
FY2021$911K
FY2022$958K
FY2023$947K
FY2024$940K
FY2025$988K
Net assets
−$2.5M
FY2025▼ -10%
Net assets by fiscal year
FY2020−$1.5M
FY2021−$1.7M
FY2022−$1.9M
FY2023−$2.1M
FY2024−$2.3M
FY2025−$2.5M

From the FY2025 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2018.

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
Anthony J Vita
Director/Secretary/Treasur
$0Pt VII · Sec A
$0Pt VII · Sec A
Michael J Prohaska
Director/President - Thru 07/25
$0Pt VII · Sec A
See Local 79 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

Holds title to real estate as nominee for the union.

Provided by the organization

This section is blank until Local 79 Realty Corp claims this page.

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1 program service, described in the organization's own filed words · FY2025.
01

The purpose of the building corp is to act as nominee for the union by holding the title to real estate.

Pt IX · col B

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$764K
Ln 12
Fees for servicesLn 2g$764K
Investment incomeLn 3$6
Money outPt IX
$988K
Ln 25
Owns and owesPt X
−$2.5M
net assets · Ln 32
Cash and savingsLn 1–2$59K
Total assetsLn 16$18.0M
LiabilitiesLn 26$20.5M
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a2
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$764K
Investment incomeLn 3$6
Total revenueLn 12$764K
Assets in detailPt X, end of year
CashLn 1$29K
SavingsLn 2$30K
Cash and savings togetherLn 1–2$59K
Land, buildings, equipmentLn 10c$17.8M
Total assetsLn 16$18.0M
LiabilitiesLn 26$20.5M
Net assetsLn 32−$2.5M
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 FY25End FY25
Cash and savingsLn 1–2$38K$59K
Land, buildings, equipmentLn 10c$18.3M$17.8M
Total assetsLn 16$18.4M$18.0M
LiabilitiesLn 26$20.7M$20.5M
Net assetsLn 32−$2.3M−$2.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$7K
Office expensesLn 13$323
OccupancyLn 16$473K
Depreciation, depletion and amortizationLn 22$508K
Total functional expensesLn 25$988K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $764K$988K−$224K−$2.5M 990 PDF
FY2024 $742K$940K−$198K−$2.3M 990 PDF
FY2023 $720K$947K−$227K−$2.1M 990 PDF
FY2022 $720K$958K−$238K−$1.9M 990 PDF
FY2021 $720K$911K−$191K−$1.7M 990 PDF
FY2020 $101K$929K−$829K−$1.5M 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 FY2025 990 (4 parts)
Part VIII · Statement of revenue $763,854 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $763,848$763,848
VIII-3 Investment incomeExcluded from tax $6$6
VIII-12 Total revenueRelated to mission $763,848 · Unrelated business $0 · Excluded from tax $6$763,854
Part IX · Statement of functional expenses $988,047 across 4 lines filed
IX-11c Accounting fees$6,900
IX-13 Office expenses$323
IX-16 Occupancy$472,694
IX-22 Depreciation, depletion and amortization$508,130
IX-25 Total functional expenses$988,047
Part X · Balance sheet $17,967,516 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $8,599$28,974
X-2 Savings and temporary cash investmentsStart of year $29,744$29,750
X-9 Prepaid expenses and deferred chargesStart of year $50,068$98,062
X-10c Land, buildings and equipment, netStart of year $18,318,861$17,810,730
X-16 Total assetsStart of year $18,407,272$17,967,516
X-17 Accounts payable and accrued expensesStart of year $58,617$6,902
X-25 Other liabilitiesStart of year $20,662,285$20,498,437
X-26 Total liabilitiesStart of year $20,720,902$20,505,339
X-27 Net assets without donor restrictionsStart of year −$2,313,630−$2,537,823
X-32 Total net assets or fund balancesStart of year −$2,313,630−$2,537,823
X-33 Total liabilities and net assetsStart of year $18,407,272$17,967,516
Part XI · Reconciliation of net assets −$2,537,823 net assets at year end
XI-1 Total revenue$763,854
XI-2 Total expenses$988,047
XI-3 Revenue less expenses−$224,193
XI-4 Net assets at start of year−$2,313,630
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$2,537,823

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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