FINANCIAL RESULTS
Albanese Cormier Holdings, LLC and Subsidiaries NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Years ended December 31, 2025 and 2024
17.
Property Leased to Others, continued The following is a schedule of future minimum lease payments required under the aforementioned operating leases. The amounts below do not include estimates for reimbursement of common area expenses or contingent rentals. Such contingent rentals aggregated $277,896 and $330,376 for the years ended December 31, 2025 and 2024, respectively.
Twelve Months Ending: December 31, 2026
$ 66,029,032
December 31, 2027 December 31, 2028 December 31, 2029 December 31, 2030
58,634,286 50,055,522 41,439,896 32,427,031
December 31, 2031 and thereafter
100,725,772 $ 349,311,539
18.
Employee Benefit Plans In October 2014, the Company implemented a SIMPLE IRA retirement plan that covers employees who meet certain compensation requirements. The Company matches the employees’ salary reduction contributions up to 3% of the employees’ wages, subject to annual limits set by the Internal Revenue Service. The Company’s total contribution expense for the years ended December 31, 2025 and 2024 was $65,544 and $66,610, respectively.
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