The Labor Temple Association Real Estate Holdingsinc

Nonprofit profile at a glance

EIN
383666613
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Minneapolis, MN, USA
Phone
6123791558
Rating
31
Verdict
REVIEW
Rating confidence
Limited
Sector
Real Estate Associations

Reported finances

Revenue
$159,147
Expenses
$0
Assets
$3,817,452
Liabilities
$454,539

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • RUSSELL SCHERBER (PRESIDENT)
  • TIM HOUSE (VICE PRESIDENT)

Highest reported compensation

  • RUSSELL SCHERBER (PRESIDENT): $12,000 total reported compensation
  • DAVID SCHUTTA (SECRETARY/TREASURER): $12,000 total reported compensation
  • HARRY MELANDER (DIRECTOR): $1,600 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization's sole purpose is to own title to real property that will be used as labor temples, collect income therefrom, and turn over the entire amount of such income, less expenses, to the labor temple association, inc., the organization's sole member and a nonprofit organization qualified for tax exemption under 501(c)(5) of the internal revenue code.

What it reported doing in 2024

The fund leased 40 units and provided facilities, meeting and office space for the benefit of labor organizations.

Operating model

Revenue model
Other-operating. 99% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 90
  • Accountability: 9
  • Sustainability: 3
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 0.12; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: 49% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: -4.2% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed
  • Governance: 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $12K · 11 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Accountability: Governance controls: 7 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.
  • High — Growth: Asset growth scored 0/100.