Local No 1 Realty Corp

Nonprofit profile at a glance

EIN
133321278
IRS 990 coverage
2013–2025
Forms available
Form 990 2025
Location
Long Island City, NY, USA
Phone
7187677004
Rating confidence
Limited

Reported finances

Revenue
$1,153,916
Expenses
$688,803
Assets
$5,494,880
Liabilities
$45,288

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • LEONARD LEGOTTE (PRESIDENT)

Highest reported compensation

  • LEONARD LEGOTTE (PRESIDENT): $459,086 total reported compensation
  • MICHAEL RIEGGER (SECRETARY-TREASURER): $408,175 total reported compensation
  • DENIS KILDUFF (TRUSTEE): $396,899 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To acquire and hold title to real property on behalf of local 1 elevator constructors union of New York city and vicinity, to collect the income from such real property, to pay the expenses of operating and maintaining such real property and to turn over amounts as proper to local union no. 1.

What it reported doing in 2025

Local 1 realty corp's exempt purpose is to acquire and hold title to real property on behalf of local no. 1 elevator constructors union of New York city and vicinity, to collect the income from such real property, to pay the expenses of operating and maintaining such real property and to turn over amounts as proper to local union no. 1.

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 60
  • Accountability: 18
  • Sustainability: 75
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 6th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 40.3%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 7.98; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 62; 62nd percentile among comparable filings
  • Officer compensation ratio: 49.3%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 6.7% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 5% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 0 of 3 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $459K · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2013 to 2025
  • Contacts: How to reach this organization
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 2/100.