Local 1253 Ibew Properties Inc

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 2 years, the organization has seen revenues fall by an average of (18.6%) 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.

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)Compensation
Nick Paquet
President
$0
Colin Clark
Vice Preside
$0
Alan Kenney
Secretary
$0
Tom Tobias
Treasurer
$0
Charles Fraser
Business Man
$0
Lee Whitaker
Executive Bo
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$21,000
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

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