Civic Intelligence

Local 560 Ibt 303 Molnar Realty Corporation

EIN 92-3384096 • 501(c)2 • Elmwood Park, NJ

NTEE S47

Profile

To hold title to and operate real property for teamsters local no. 560.

303 Molnar DriveElmwood Park, NJ 07407

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

94th percentile

1.13x

Higher debt load relative to assets than 94% of similar nonprofits.

NTEE S • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

99th percentile

66.85x

Higher debt load relative to revenue than 99% of similar nonprofits.

NTEE S • $1M-$5M nonprofits • Source year 2024

Net Margin

1st percentile

-613%

Higher net margin than 1% of similar nonprofits.

NTEE S • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

80th percentile

$224,061

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 559.3% of source-year revenue.

NTEE S • $1M-$5M nonprofits • Source year 2024

Asset Growth

63rd percentile

9.9%

Faster asset growth than 63% of similar nonprofits.

NTEE S • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

58th percentile

11%

Faster revenue growth than 58% of similar nonprofits.

NTEE S • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$2,372,282

Up $213,826 (+9.9%) from 2023

Liabilities

Up

$2,678,232

Up $459,316 (+21%) from 2023

Net Assets

Down

-$305,950

Down $245,490 (-406%) from 2023

Revenue

Up

$40,061

Up $4,002 (+11%) from 2023

Expenses

Up

$285,551

Up $189,032 (+196%) from 2023

Net Income

Down

-$245,490

Down $185,030 (-306%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0-$1.0MAssets 2023: $2,158,456Liabilities 2023: $2,218,916Net Assets 2023: -$60,4602023Assets 2024: $2,372,282Liabilities 2024: $2,678,232Net Assets 2024: -$305,9502024

Highlighted filing

2024

Assets$2,372,282
Liabilities$2,678,232
Net Assets-$305,950

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$400K$200K$0-$200K-$400KRevenue 2023: $36,059Expenses 2023: $96,519Net Income 2023: -$60,4602023Revenue 2024: $40,061Expenses 2024: $285,551Net Income 2024: -$245,4902024

Highlighted filing

2024

Revenue$40,061
Expenses$285,551
Net Income-$245,490

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 14, 2025
Return Version
2024v5.2
Gross Receipts
$40,061
Mission and Program Overview

Mission

To hold title to and operate real property for teamsters local no. 560.

To hold title to and operate real property for teamsters local no. 560

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,153,120$2,328,895▲ $175,775
Savings and Temporary Cash Investments$5,336$43,387▲ $38,051
Total Assets$2,158,456$2,372,282▲ $213,826
Liabilities
Other Liabilities$268,916$2,678,232▲ $2,409,316
Mortgage Notes Payable Secured by Investment Property$1,950,000$0▼ $1,950,000
Total Liabilities$2,218,916$2,678,232▲ $459,316
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-60,460$-305,950▼ $245,490
Total Net Assets Fund Balance$-60,460$-305,950▼ $245,490
Total Liabilities and Net Assets / Fund Balance$2,158,456$2,372,282▲ $213,826

Asset Categories

AssetBook ValueDepreciationBasis
Land$1,209,000-$1,209,000
Leasehold Improvements$1,119,895$39,861$1,159,756
Compensation and Service Providers

Employees

NameTitleOtherTotal
Vincent LaterzaTrustee$464$464

Board Members and Trustees

NameTitle
Joseph DipalmaPresident
Joseph DileoVice President
John TiedmannTrustee
Nicholas JaymeTrustee
Alfelix PerezRecording Secretary
Louis RodriguezSecretary-treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$40,061
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-245,490
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$285,551
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy---$186,218
Interest---$42,946
Depreciation Depletion---$28,895
Insurance---$18,520
Fees for Services Legal---$6,915
Office Expenses---$1,428
Other Expenses---$629
Total Functional Expenses$0$0$0$285,551
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Teamsters Local Union No. 560$2,676,886
Security Deposit$1,346
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

All of the officers of local 560 ibt 303 molnar realty corporation are also officers of teamsters local union no. 560.

Form 990, Part VI, Section A, Line 7A

The officers that serve local 560 ibt 303 molnar realty corporation are the elected officers of teamsters local union no. 560. The officers of local 560 are elected by the members in good standing of teamsters local union no. 560.

Form 990, Part VI, Section B, Line 11B

Prior to its filing, the form 990 was reviewed by each of the members of the executive board. The executive board is the governing body of the organization and consists of all of the voting members.

Form 990, Part VI, Section C, Line 19

All required reports, records, and documents are made available at the corporation's offices upon request.

Part VI, Section B, Lines 15(A) & 15(B)

None of the officers of the corporation are compensated. The corporation does not have a ceo, executive director, top management offical, or key employees.

Filing and Contact Details

Filer

Filer Name
Local 560 Ibt 303 Molnar Realty
EIN
92-3384096
Phone
2018640051
Address
303 MOLNAR DRIVE, ELMWOOD PARK, NJ 07407

Signing Officer

Name
Joseph Dipalma
Title
President
Phone
2018640051
Signed
2025-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph Dipalma
Formed
2023
Legal Domicile
Nj
Voting Board Members
7
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Mspc Cpas & Advisors Pc
Address
340 NORTH AVENUE EAST, CRANFORD, NJ 07016-2496
Preparer
Raymond Hargadon CPA
Phone
9082727000
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The local is exempt from federal income taxes under the provisions of section 501(c)(5) of the internal revenue code. The subsidiary, local 560 ibt 303 molnar realty corp, is exempt from federal income taxes under the provisions of section 501(c)(2) of the internal revenue code. The local 560/478 merger, llc is considered a disregarded entity for tax purposes. The accounting standards on accounting for uncertainty in income taxes address the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, the local may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the local and various positions related to the potential sources of unrelated business taxable income (ubit). The tax benefits recognized in the financial statements from a tax position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The local, subsidiary, and llc have filed internal revenue service (irs) form 990, return of organization exempt from income tax, as required. Currently, the 2021 to 2024 tax years are open and subject to examination by the irs. However, the local, subsidiary, and llc are not currently under audit nor has local, subsidiary, and llc been contacted by any of the taxing authorities.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE LOCAL IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(5) OF THE INTERNAL REVENUE CODE. THE SUBSIDIARY, LOCAL 560 IBT 303 MOLNAR REALTY CORP, IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(2) OF THE INTERNAL REVENUE CODE. THE LOCAL 560/478 MERGER, LLC IS CONSIDERED A DISREGARDED ENTITY FOR TAX PURPOSES. THE ACCOUNTING STANDARDS ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESS THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THAT GUIDANCE, THE LOCAL MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE LOCAL AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME (UBIT). THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM A TAX POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE LOCAL, SUBSIDIARY, AND LLC HAVE FILED INTERNAL REVENUE SERVICE (IRS) FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, AS REQUIRED. CURRENTLY, THE 2021 TO 2024 TAX YEARS ARE OPEN AND SUBJECT TO EXAMINATION BY THE IRS. HOWEVER, THE LOCAL, SUBSIDIARY, AND LLC ARE NOT CURRENTLY UNDER AUDIT NOR HAS LOCAL, SUBSIDIARY, AND LLC BEEN CONTACTED BY ANY OF THE TAXING AUTHORITIES.
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0ALFELIX PEREZ
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1JOSEPH DIPALMA
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2JOSEPH DILEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3LOUIS RODRIGUEZ
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm4JOHN TIEDMANN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm5NICHOLAS JAYME
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0RECORDING SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2VICE PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3SECRETARY-TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt4TRUSTEE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt5TRUSTEE
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IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALL OF THE OFFICERS OF LOCAL 560 IBT 303 MOLNAR REALTY CORPORATION ARE ALSO OFFICERS OF TEAMSTERS LOCAL UNION NO. 560.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE OFFICERS THAT SERVE LOCAL 560 IBT 303 MOLNAR REALTY CORPORATION ARE THE ELECTED OFFICERS OF TEAMSTERS LOCAL UNION NO. 560. THE OFFICERS OF LOCAL 560 ARE ELECTED BY THE MEMBERS IN GOOD STANDING OF TEAMSTERS LOCAL UNION NO. 560.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PRIOR TO ITS FILING, THE FORM 990 WAS REVIEWED BY EACH OF THE MEMBERS OF THE EXECUTIVE BOARD. THE EXECUTIVE BOARD IS THE GOVERNING BODY OF THE ORGANIZATION AND CONSISTS OF ALL OF THE VOTING MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL REQUIRED REPORTS, RECORDS, AND DOCUMENTS ARE MADE AVAILABLE AT THE CORPORATION'S OFFICES UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NONE OF THE OFFICERS OF THE CORPORATION ARE COMPENSATED. THE CORPORATION DOES NOT HAVE A CEO, EXECUTIVE DIRECTOR, TOP MANAGEMENT OFFICAL, OR KEY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART VI, SECTION B, LINES 15(A) & 15(B)
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0TEAMSTERS LOCAL UNION NO 560
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1LOCAL 560 BUILDING CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0221337490
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1223272489
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(5)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(C)(2)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NJ
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1NJ
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0LABOR UNION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1BUILDING CORP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0707 SUMMIT AVENUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1707 SUMMIT AVENUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0UNION CITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1UNION CITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NJ
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1NJ
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd007087
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd107087
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt02676886
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0N/A
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0TEAMSTERS LOCAL UNION NO 560
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1TEAMSTERS LOCAL UNION NO 560
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0N
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1S
IRS990ScheduleR/TransferFromOtherOrgInd01
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02158456
IRS990/TotalAssetsEOYAmt02372282
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IRS990/TotalAssetsGrp/EOYAmt02372282
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
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IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02218916
IRS990/TotalLiabilitiesEOYAmt02678232
IRS990/TotalLiabilitiesGrp/BOYAmt02218916
IRS990/TotalLiabilitiesGrp/EOYAmt02678232

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