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Nonprofit · EIN 13-3120148

501 - 507 W 42ND ST REALTY GROUP

Tax-exempt · NEW YORK, NY 10036

Financials

$491K$515K2023$610K$591K2024
Revenue Expenses · by fiscal year end
Financials of 501 - 507 W 42ND ST REALTY GROUP by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$609,855$590,856$18,999$1,815,881$63,999$1,751,882
December 31, 2023990$491,263$514,517-$23,254$1,753,722$20,839$1,732,883
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$608,782
Investment income
$1,073
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Other salaries and wages
$72,622
Salaries, compensation and benefits (total)
$95,109
Professional fundraising fees
$0
Legal fees
$550
Accounting fees
$8,120
Occupancy
$302,409
Depreciation
$129,101

Balance sheet and other

Total assets, start of year
$1,753,722
Total assets, end of year
$1,815,881
Total liabilities, end of year
$63,999
Net assets, end of year
$1,751,882
Land, buildings and equipment
$1,137,551
Net assets without donor restrictions
$1,751,882
Gross receipts
$609,855
Employees
0
Volunteers
0
Year formed
1982
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 December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationFrom related orgsOther / benefits
BRENDAN TORMEYFUND ADMINISTRATOR
Key employee
2$0$182,337$127,842
JOSEPH NOLANPRESIDENT
Officer
2$0$0$0
RANDALL MENTVICE PRESIDENT
Officer
2$0$0$0
STEVEN DONOFRIOTREASURER
Officer
2$0$0$0
RANDALL RIFELLISECRETARY
Officer
2$0$0$0
990 for the year ended December 31, 2023: 7 people
NameTitleHours / weekCompensationFrom related orgsOther / benefits
BRENDAN TORMEYFUND ADMINISTRATOR
Key employee
2$0$180,112$124,306
PETER MYERSPRESIDENT - THRU 10/23
Officer
2$0$0$0
JOSEPH MAFFEITREASURER - THRU 5/23
Officer
2$0$0$0
RANDALL MENTVICE PRESIDENT
Officer
2$0$0$0
RANDALL RIFELLISECRETARY
Officer
2$0$0$0
JOSEPH NOLANPRESIDENT - EFF 10/23
Officer
2$0$0$0
STEVEN DONOFRIOTREASURER - EFF 5/23
Officer
2$0$0$0

Address and contacts

Address (IRS master file)
501 W 42ND ST, NEW YORK, NY 10036-6205
Signed the 990
JOSEPH NOLAN, PRESIDENT
Phone
(212) 695-5206
Return prepared by
SCHULTHEIS & PANETTIERI LLP

Mission

501-507 WEST 42ND STREET REALTY CORP WAS FORMED FOR THE EXCLUSIVE PURPOSE OF HOLDING TITLE TO PROPERTY AND FOR COLLECTING INCOME THERE FROM, AND TURNING OVER THE ENTIRE AMOUNT THERE OF, LESS EXPENSES TO LOCAL 580 PENSION FUND.

990 for the year ended December 31, 2024

Program accomplishments

  • 501-507 WEST 42ND STREET REALTY CORP WAS FORMED FOR THE EXCLUSIVE PURPOSE OF HOLDING TITLE TO PROPERTY AND FOR COLLECTING INCOME THERE FROM, AND TURNING OVER THE ENTIRE AMOUNT THERE OF, LESS EXPENSES TO LOCAL 580 PENSION FUND.

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 December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
13-3120148
Tax-exempt status
501(c)(2): Title-holding corporation
Donations deductible
No
Exempt since
1983
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$1,815,881
Income (IRS master file)
$609,855

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$609,855$590,856$1,815,881XML
990December 2023$491,263$514,517$1,753,722XML
990December 2022$502,020$435,183$1,762,675IRS
990December 2021–––IRS
990December 2020–––IRS
990December 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 13-3120148).

Questions about 501 - 507 W 42ND ST REALTY GROUP

What is the EIN of 501 - 507 W 42ND ST REALTY GROUP?
The employer identification number (EIN) of 501 - 507 W 42ND ST REALTY GROUP is 13-3120148.
Is 501 - 507 W 42ND ST REALTY GROUP tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(2) since 1983.
Are donations to 501 - 507 W 42ND ST REALTY GROUP tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does 501 - 507 W 42ND ST REALTY GROUP 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 501 - 507 W 42ND ST REALTY GROUP due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did 501 - 507 W 42ND ST REALTY GROUP last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who are the officers and directors of 501 - 507 W 42ND ST REALTY GROUP?
The 990 for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
How much revenue does 501 - 507 W 42ND ST REALTY GROUP have?
On its 990 for the year ended December 31, 2024 it reported revenue of $609,855, expenses of $590,856 and total assets of $1,815,881 at year end.

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