Nonprofit · EIN 02-0555262
50 BROADWAY REALTY CORP
Tax-exempt · NEW YORK, NY 10104
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| July 31, 2025 | 990 | $13,364,093 | $16,801,129 | -$3,437,036 | $94,044,886 | $78,189,717 | $15,855,169 |
| July 31, 2024 | 990 | $16,319,890 | $16,185,634 | $134,256 | $97,467,796 | $78,492,036 | $18,975,760 |
| July 31, 2023 | 990 | $16,262,421 | $15,583,635 | $678,786 | $100,547,151 | $81,759,131 | $18,788,020 |
Financial details: 990 for the year ended July 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $12,709,347
- Investment income
- $654,746
- Net gain from sales of assets
- $9,875
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $660,011
- Salaries, compensation and benefits (total)
- $793,184
- Professional fundraising fees
- $0
- Legal fees
- $47,399
- Accounting fees
- $33,501
- Occupancy
- $4,055,510
- Depreciation
- $3,120,591
Balance sheet and other
- Total assets, start of year
- $97,467,796
- Total assets, end of year
- $94,044,886
- Total liabilities, end of year
- $78,189,717
- Net assets, end of year
- $15,855,169
- Land, buildings and equipment
- $54,024,679
- Publicly traded securities
- $7,089,291
- Gross receipts
- $14,354,218
- Employees
- 8
- Volunteers
- 0
- Year formed
- 2002
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended July 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| MICHAEL MULGREW | PRESIDENT Officer | 1 | $0 | $347,082 | $84,574 |
| LEROY BARR | SECRETARY Officer | 1 | $0 | $239,707 | $104,632 |
| KEVIN RIDDER | BLDG MAINTENANCE Highest-paid employee | 35 | $226,256 | $0 | $69,229 |
| CHARLES HOHMANN | BLDG MAINTENANCE Highest-paid employee | 35 | $216,897 | $0 | $73,821 |
| FRANK FINAMORE | BLDG MAINTENANCE Highest-paid employee | 35 | $152,165 | $0 | $61,625 |
| MAURICE O'LEARY | BLDG MAINTENANCE Highest-paid employee | 35 | $152,158 | $0 | $57,991 |
| JOSEPH BOSCO | BLDG MAINTENENCE Highest-paid employee | 35 | $129,512 | $0 | $56,604 |
| VICTORIA LEE | TREASURER Officer | 1 | $0 | $98,203 | $24,057 |
990 for the year ended July 31, 2024: 9 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| MICHAEL MULGREW | PRESIDENT Officer | 1 | $0 | $342,999 | $71,721 |
| LEROY BARR | SECRETARY Officer | 1 | $0 | $237,715 | $63,526 |
| KEVIN RIDDER | BLDG MAINTENANCE Highest-paid employee | 35 | $226,275 | $0 | $71,316 |
| CHARLES HOHMANN | BLDG MAINTENANCE Highest-paid employee | 35 | $203,621 | $0 | $68,890 |
| MAURICE O'LEARY | BLDG MAINTENANCE Highest-paid employee | 35 | $151,345 | $0 | $60,435 |
| FRANK FINAMORE | BLDG MAINTENANCE Highest-paid employee | 35 | $148,043 | $0 | $61,366 |
| JOSEPH BOSCO | BLDG MAINTENENCE Highest-paid employee | 35 | $127,232 | $0 | $57,291 |
| DEBRA PENNY | TREASURER - FORMER Officer | 1 | $0 | $143,947 | $28,048 |
| VICTORIA LEE | TREASURER Officer | 1 | $0 | $97,168 | $23,826 |
990 for the year ended July 31, 2023: 8 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| MICHAEL MULGREW | PRESIDENT Officer | 1 | $0 | $327,736 | $60,406 |
| KEVIN RIDDER | BLDG MAINTENANCE Highest-paid employee | 35 | $219,923 | $0 | $67,660 |
| LEROY BARR | SECRETARY Officer | 1 | $0 | $225,870 | $55,324 |
| CHARLES HOHMANN | BLDG MAINTENANCE Highest-paid employee | 35 | $202,343 | $0 | $68,646 |
| FRANK FINAMORE | BLDG MAINTENANCE Highest-paid employee | 35 | $140,435 | $0 | $55,795 |
| MAURICE O'LEARY | BLDG MAINTENANCE Highest-paid employee | 35 | $140,222 | $0 | $53,730 |
| DAVID HICKEY | BLDG MANAGER Highest-paid employee | 35 | $193,085 | $0 | $0 |
| DEBRA PENNY | TREASURER Officer | 1 | $0 | $114,240 | $28,560 |
Address and contacts
- Address (IRS master file)
- 1290 AVENUE OF THE AMERI, NEW YORK, NY 10104-0000
- In care of
- % UNITED FEDERATION OF TEACHERS
- Principal officer (990 for 2024)
- MICHAEL MULGREW, 52 BROADWAY, NEW YORK, NY 10004
- Signed the 990
- VICTORIA LEE, TREASURER
- Phone
- (212) 777-7500
- Return prepared by
- WEAVER AND TIDWELL LLP
Mission
WAS ORGANIZED FOR THE PURPOSE OF ACQUIRING AND OPERATING REAL PROPERTY LOCATED AT 50 BROADWAY, NEW YORK, NEW YORK ON BEHALF OF THE UNITED FEDERATION OF TEACHERS, LOCAL 2.
Program accomplishments
- GROSS EXPENSES INCURRED BY CORPORATIN HOLDING TITLE TO PROPERTY FOR AN EXEMPT ORGANIZATION.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in July, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | July 31, 2026 | December 15, 2026 | Not due yet |
| 2024 | July 31, 2025 | December 15, 2025 | 990 on file |
| 2023 | July 31, 2024 | December 16, 2024 | 990 on file |
IRS record
- EIN
- 02-0555262
- Tax-exempt status
- 501(c)(2): Title-holding corporation
- Donations deductible
- No
- Exempt since
- 2003
- Accounting year ends
- July
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Unknown (Z99)
- Assets (IRS master file)
- $94,044,886
- Income (IRS master file)
- $14,354,218
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | July 2025 | $13,364,093 | $16,801,129 | $94,044,886 | XML |
| 990 | July 2024 | $16,319,890 | $16,185,634 | $97,467,796 | XML |
| 990 | July 2023 | $16,262,421 | $15,583,635 | $100,547,151 | XML |
| 990 | July 2022 | $16,189,353 | $15,328,501 | $103,829,676 | IRS |
| 990 | July 2021 | – | – | – | IRS |
| 990 | July 2020 | – | – | – | IRS |
| 990 | July 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 02-0555262).
Questions about 50 BROADWAY REALTY CORP
- What is the EIN of 50 BROADWAY REALTY CORP?
- The employer identification number (EIN) of 50 BROADWAY REALTY CORP is 02-0555262.
- Is 50 BROADWAY REALTY CORP tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(2) since 2003.
- Are donations to 50 BROADWAY REALTY CORP tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does 50 BROADWAY REALTY CORP file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of 50 BROADWAY REALTY CORP due?
- The return for tax year 2025 (the year ending July 31, 2026) is due December 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did 50 BROADWAY REALTY CORP last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended July 2025.
- Who is the principal officer of 50 BROADWAY REALTY CORP?
- The 990 for the year ended July 31, 2025 names MICHAEL MULGREW.
- Who are the officers and directors of 50 BROADWAY REALTY CORP?
- The 990 for the year ended July 31, 2025 lists 8 people; 5 received compensation from the organization.
- How much revenue does 50 BROADWAY REALTY CORP have?
- On its 990 for the year ended July 31, 2025 it reported revenue of $13,364,093, expenses of $16,801,129 and total assets of $94,044,886 at year end.
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