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        <ExplanationTxt>ASC TOPIC 740-10, INCOME TAXES, ADDRESSES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S FINANCIAL STATEMENTS AND PRESCRIBES A THRESHOLD AND MEASUREMENT ATTRIBUTE FOR FINANCIAL STATEMENT RECOGNITION REGARDING TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN, INCLUDING THE ENTITY'S STATUS AS A TAX-EXEMPT ENTITY. THE REALTY CORP. HAS DETERMINED THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN INCLUDED IN THE REALTY CORP.'S FINANCIAL STATEMENTS. WHILE THE REALTY CORP.'S TAX AND OTHER REGULATORY FORMS MAY BE EXAMINED BY TAX AUTHORITIES, SUCH AS THE IRS, IT IS NO LONGER SUBJECT TO FEDERAL INCOME TAX EXAMINATIONS FOR ANY YEARS EARLIER THAN ITS FISCAL YEAR ENDED DECEMBER 31, 2021.</ExplanationTxt>
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        <PersonNm>MICHAEL RIEGGER</PersonNm>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION HAS ISSUED 3 SHARES OF STOCK, ONE SHARE IS HELD BY EACH OF 3 OFFICERS OF LOCAL UNION NO. 1.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 8B</FormAndLineReferenceDesc>
        <ExplanationTxt>NO APPLICABLE TRANSACTIONS OCCURRED.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE PRESIDENT AND SECRETARY-TREASURER REVIEW THE FORM BEFORE IT IS FILED.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15</FormAndLineReferenceDesc>
        <ExplanationTxt>NO COMPENSATION IS PAID BY THE LOCAL NO. 1 REALTY CORP.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 18</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION MAKES FORMS 1024 AND 990 AVAILABLE UPON REQUEST IN THE UNION OFFICE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC THROUGH THE CONSOLIDATED LM-2 FILING WITH THE DEPARTMENT OF LABOR.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART XII, LINE 1:</FormAndLineReferenceDesc>
        <ExplanationTxt>CONSISTENT WITH PRIOR YEARS' PRACTICE, LOCAL 1 REALTY CORP. HAS PREPARED ITS FORM 990 ON THE MODIFIED CASH BASIS OF ACCOUNTING THAT THE CORPORATION REGULARLY USES TO KEEP ITS BOOKS AND RECORDS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART XII, LINE 2C:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE APPROVAL AND RESPONSIBILITY PROCESS FOR THE OVERSIGHT OF REVIEWS AND COMPILATIONS OF FINANCIAL STATEMENTS HAS NOT CHANGED FROM THE PRIOR YEAR.</ExplanationTxt>
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    </IRS990ScheduleO>
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          <CityNm>LONG ISLAND</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>11101</ZIPCd>
        </USAddress>
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        <PrimaryActivitiesTxt>TO ADVANCE INTERESTS OF MEMBERSHIP.</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>NY</LegalDomicileStateCd>
        <ExemptCodeSectionTxt>501(C)5</ExemptCodeSectionTxt>
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      <IdRelatedTaxExemptOrgGrp>
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          <BusinessNameLine1Txt>IUEC LOCAL 1 OF NYC SCHOLARSHIP FUND</BusinessNameLine1Txt>
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          <AddressLine1Txt>47-24 27TH STREET</AddressLine1Txt>
          <CityNm>LONG ISLAND</CityNm>
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        <EIN>133251442</EIN>
        <PrimaryActivitiesTxt>TO PROVIDE SCHOLARSHIPS FOR SECONDARY EDUCATION.</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>NY</LegalDomicileStateCd>
        <ExemptCodeSectionTxt>501(C)3</ExemptCodeSectionTxt>
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</Return>