Local 1253 Ibew Properties Inc
- Assets
- $81.8k
- Revenue
- $55.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Newport, ME
- Founding
- 11/1968
- Data as of
- 06/2021
- EIN
- 01-6029905
Organization Overview
Local 1253 Ibew Properties Inc is located in Newport, ME. The organization was established in 1968. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Local 1253 Ibew Properties Inc is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 06/2021, Local 1253 Ibew Properties Inc generated $55.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (12.8%) each year. All expenses for the organization totaled $105.9k during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE RENTAL SPACE FOR RELATED TAX EXEMPT ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEASED A BUILDING AT 176 MAIN STREET IN FAIRFIELD, MAINE TO RELATED TAX EXEMPT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nick Paquet President | OfficerTrustee | 0.23 | $0 |
Colin Clark Vice Preside | OfficerTrustee | 0.23 | $0 |
Alan Kenney Secretary | OfficerTrustee | 0.23 | $0 |
Tom Tobias Treasurer | OfficerTrustee | 0.23 | $0 |
Shawn Chandler Executive Bo | Trustee | 0.23 | $0 |
Lee Whitaker Executive Bo | Trustee | 0.23 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $5 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $34,153 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $55,158 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $221 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,606 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,072 |
| Insurance | $789 |
| All other expenses | $0 |
| Total functional expenses | $105,871 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $76,211 |
| Savings and temporary cash investments | $5,589 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $81,800 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $81,800 |