Teamsters Local 705 Building Corporation
- Assets
- $9.9m
- Revenue
- $307.8k
- Investments
- $0.0
- Employees
- 4
- Location
- Chicago, IL
- Founding
- 04/1975
- Data as of
- 12/2021
- EIN
- 36-7060755
Organization Overview
Teamsters Local 705 Building Corporation is located in Chicago, IL. The organization was established in 1975. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 12/2021, Teamsters Local 705 Building Corporation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Teamsters Local 705 Building Corporation is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO HOLD AND MANAGE REAL ESTATE
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATE BUILDING FOR LOCAL 705 I.B. OF T.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Bakes Recording Secretary/truste | OfficerTrustee | 1 | $0 |
Gregory Foster Vice-President/trustee | OfficerTrustee | 1 | $0 |
Juan Campos Secretary-Treasurer/truste | OfficerTrustee | 1 | $0 |
Kenneth Emanuelson President/trustee | OfficerTrustee | 1 | $0 |
Santos Marinez Trustee | Trustee | 1 | $0 |
Kimberly Obney Trustee | Trustee | 1 | $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 | $59,087 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $219,997 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $307,759 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $103,719 |
| Pension plan accruals and contributions | $29,266 |
| Other employee benefits | $21,736 |
| Payroll taxes | $9,810 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $92,655 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $291,672 |
| Insurance | $15,597 |
| All other expenses | -$812,820 |
| Total functional expenses | $950,333 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $156,994 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,950 |
| 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 | $1,459 |
| Net Land, buildings, and equipment | $9,721,311 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,883,714 |
| Accounts payable and accrued expenses | $29,241 |
| Grants payable | $0 |
| Deferred revenue | $51,662 |
| 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 | $1,099,189 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $947,311 |
| Total liabilities | $2,127,403 |
| 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 | $14,081,347 |
| Retained earnings, endowment, accumulated income, or other funds | -$6,325,036 |
| Total liabilities and net assets/fund balances | $9,883,714 |