BIT HOLDINGS SEVENTY-TWO INC: Form 990, tax year 2019
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- Organization
- BIT HOLDINGS SEVENTY-TWO INC (EIN 47-1256046)
- Tax period
- 2019-01-01 to 2019-12-31
- Filed
- 2020-11-14
- IRS object ID
- 202023199349301332
- Schema version
- 2019v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2020-11-14T12:25:25-06:00 | ReturnTs |
| Tax Period End | 2019-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 861065772 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DELOITTE TAX LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7900 TYSONS ONE PLACE SUITE 800 | AddressLine1Txt |
| City | MCLEAN | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 221024219 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2019-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 471256046 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BIT HOLDINGS SEVENTY-TWO INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | BITH | BusinessNameControlTxt |
| Phone | 4102375727 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | CO PNC BANK NA ONE E PRATT ST | AddressLine1Txt |
| City | BALTIMORE | CityNm |
| State Abbreviation | MD | StateAbbreviationCd |
| ZIP | 21202 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CYNTHIA HELMS | PersonNm |
| Person Title | VICE PRESIDENT | PersonTitleTxt |
| Phone | 4102375727 | PhoneNum |
| Signature | 2020-11-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JUSTIN FINEBERG | PreparerPersonNm |
| PTIN | P01509622 | PTIN |
| Phone | 5717667954 | PhoneNum |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 24.3.244.63 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2020-11-13 | IPDt |
| IP Tm | 16:48:32 | IPTm |
| IP Timezone | ES | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | 9595633DA711104AE31AD62D529156307D0CE4C4 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 92426507D63AB8DCB9F8A2EED31D9394E8F3722B | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2019 | TaxYr |
| Build TS | 2022-01-07 14:23:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | CYNTHIA HELMS | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE E PRATT ST 5TH FL E | AddressLine1Txt |
| City | BALTIMORE | CityNm |
| State Abbreviation | MD | StateAbbreviationCd |
| ZIP | 21202 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $7,612,713 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | NONE | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2014 | FormationYr |
| Legal Domicile State | MD | LegalDomicileStateCd |
| Activity Or Mission | ORGANIZED FOR THE PURPOSE OF ACQUIRING REAL PROPERTY, HOLDING TITLE THERETO, COLLECTING THE INCOME FROM SUCH PROPERTY, AND REMITTING THE NET AMOUNT TO QUALIFIED SHAREHOLDERS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 5 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 5 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $0 | PYInvestmentIncomeAmt |
| CY Investment Income | $0 | CYInvestmentIncomeAmt |
| PY Other Revenue | $4,349,176 | PYOtherRevenueAmt |
| CY Other Revenue | $4,369,862 | CYOtherRevenueAmt |
| PY Total Revenue | $4,349,176 | PYTotalRevenueAmt |
| CY Total Revenue | $4,369,862 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $2,389,340 | PYOtherExpensesAmt |
| CY Other Expenses | $2,278,750 | CYOtherExpensesAmt |
| PY Total Expenses | $2,389,340 | PYTotalExpensesAmt |
| CY Total Expenses | $2,278,750 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,959,836 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $2,091,112 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $104,521,093 | TotalAssetsBOYAmt |
| Total Assets EOY | $105,208,941 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $50,689,468 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $50,654,639 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $53,831,625 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $54,554,302 | NetAssetsOrFundBalancesEOYAmt |
| Mission | THE CORPORATION WAS ORGANIZED FOR THE EXCLUSIVE PURPOSE OF ACQUIRING REAL PROPERTY, HOLDING TITLE THERETO, COLLECTING THE INCOME FROM SUCH PROPERTY, AND REMITTING THE ENTIRE AMOUNT LESS EXPENSES TO QUALIFIED SHAREHOLDERS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | BIT HOLDINGS SEVENTY-TWO, INC. WAS ORGANIZED FOR THE EXCLUSIVE PURPOSE OF ACQUIRING REAL PROPERTY, HOLDING TITLE THERETO, COLLECTING THE INCOME FROM SUCH PROPERTY, AND REMITTING THE ENTIRE AMOUNT LESS EXPENSES TO THE AFL-CIO BUILDING INVESTMENT TRUST. DURING 2019, BIT HOLDINGS SEVENTY-TWO OWNED RESIDENTIAL REAL PROPERTY AND DISTRIBUTED APPROXIMATELY $7.7 MILLION OF EARNINGS FROM THE RENTAL OF SUCH PROPERTY TO THE AFL-CIO BUILDING INVESTMENT TRUST. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 17 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 5 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 5 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (1) | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | 0 | ConflictOfInterestPolicyInd |
| Whistleblower Policy | 0 | WhistleblowerPolicyInd |
| Document Retention Policy | 0 | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | CA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CYNTHIA HELMS | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 4102375727 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE E PRATT ST | AddressLine1Txt |
| City | BALTIMORE | CityNm |
| State Abbreviation | MD | StateAbbreviationCd |
| ZIP | 21202 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | Yes (X) | NoListedPersonsCompensatedInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (6 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Institutional TrusteeInstitutionalTrusteeInd |
|---|---|---|---|---|---|---|---|---|
| WILLIAM K MIHM | ||||||||
| VP/ASSISTANT SECRETARY | 1.00 | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| RINSE A BRINK | ||||||||
| PRES/ASST SECRETARY/ASST TREAS | 1.00 | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| CLAYTON FLANAGAN | ||||||||
| VP/ASSISTANT SECRETARY | 1.00 | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| CYNTHIA HELMS | ||||||||
| VP/SECRETARY/TREASURER | 1.00 | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| JILL J RUSSELL | ||||||||
| VP/ASSISTANT SECRETARY | 1.00 | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| PNC BANK NA | ||||||||
| TRUSTEE | 1.00 | 2.00 | $0 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ABM INDUSTRY GROUPS LLC | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 52609 | AddressLine1Txt |
| City | LOS ANGELES | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 900742609 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | BUILDING MANAGEMENT | ServicesDesc |
| Compensation | $317,133 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $7,608,233 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $3,242,851 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $4,365,382 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,365,382 | TotalRevenueColumnAmt |
| Exclusion | $4,365,382 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | LATE CHARGES | Desc |
| Business | 531110 | BusinessCd |
| Total Revenue Column | $4,480 | TotalRevenueColumnAmt |
| Exclusion | $4,480 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $4,480 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,369,862 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $4,369,862 | ExclusionAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,476 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,482,464 | TotalAmt |
Other Expenses OtherExpensesGrp (2 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| GROUND LEASE PAYMENTS | $784,800 |
| NON-OPERATING TAXES | $10 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,278,750 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,359,168 | BOYAmt |
| EOY | $1,016,005 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $42,573 | BOYAmt |
| EOY | $45,985 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $119,352 | BOYAmt |
| EOY | $146,951 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $104,000,000 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $0 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $103,000,000 | BOYAmt |
| EOY | $104,000,000 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $104,521,093 | BOYAmt |
| EOY | $105,208,941 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $311,242 | BOYAmt |
| EOY | $140,924 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,669 | BOYAmt |
| EOY | $38,320 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $50,000,000 | BOYAmt |
| EOY | $50,000,000 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $376,557 | BOYAmt |
| EOY | $475,395 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $50,689,468 | BOYAmt |
| EOY | $50,654,639 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $33,625,197 | BOYAmt |
| EOY | $31,695,902 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,206,428 | BOYAmt |
| EOY | $22,858,400 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $53,831,625 | BOYAmt |
| EOY | $54,554,302 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $104,521,093 | BOYAmt |
| EOY | $105,208,941 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $2,091,112 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $621,640 | NetUnrlzdGainsLossesInvstAmt |
| Prior Period Adjustments | -$60,780 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | -$1,929,295 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $104,000,000 | InvestmentCostOrOtherBasisAmt |
| Book Value | $104,000,000 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $104,000,000 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| SECURITY DEPOSITS | $358,395 |
| INTEREST PAYABLE | $117,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $475,395 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | BIT HOLDINGS SEVENTY-TWO, INC. IS A TITLE HOLDING CORPORATION WITHIN THE MEANING OF IRC SECTION 501(C)(2), AND A WHOLLY-OWNED SUBSIDIARY OF THE AFL-CIO BUILDING INVESTMENT TRUST (THE "TRUST"). THE INCOME TAX FOOTNOTE FROM THE TRUST'S 2019 CONSOLIDATED FINANCIAL STATEMENTS IS AS FOLLOWS: THE INTERNAL REVENUE SERVICE HAS RULED THAT THE TRUST IS A QUALIFIED TRUST AS DESCRIBED IN REVENUE RULING 81-100 AND IS EXEMPT FROM INCOME TAX UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE, WITH RESPECT TO FUNDS THAT EQUITABLY BELONG TO PARTICIPATING TRUSTS THAT ARE QUALIFIED UNDER 401(A) AND WITH RESPECT TO FUNDS THAT EQUITABLY BELONG TO ITS PARTICIPATING INDIVIDUAL RETIREMENT ACCOUNTS THAT ARE QUALIFIED UNDER 408. THE TRUST IS SUBJECT TO TAX ON ITS UNRELATED BUSINESS INCOME. DURING 2019, THE TRUST DID NOT GENERATE ANY SIGNIFICANT UNRELATED BUSINESS INCOME. ACCORDINGLY, NO PROVISION FOR FEDERAL OR STATE INCOME TAX HAS BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES REQUIRE THE TRUST TO DETERMINE WHETHER A TAX POSITION TAKEN BY THE TRUST IS MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPLICABLE TAXING AUTHORITY, BASED ON THE TECHNICAL MERITS OF THE POSITION. FOR THE TRUST, THE TAX YEARS ENDED OCTOBER 31, 2016 THROUGH THE CURRENT YEAR REMAIN OPEN FOR EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. THE TRUST HAS NO UNRECOGNIZED TAX BENEFITS OR LIABILITIES, AND CONSEQUENTLY, HAD NO RELATED ACCRUED INTEREST AND PENALTIES AT THE BEGINNING OR END OF 2019. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | ALL OFFICERS AND DIRECTORS ARE EMPLOYED DIRECTLY OR INDIRECTLY BY THE INSTITUTIONAL TRUSTEE OF BIT HOLDINGS SEVENTY-TWO'S PARENT COMPANY. SEE DISCLOSURE FOR FORM 990, PART VI, SECTION A, LINE 3 FOR FURTHER EXPLANATION. |
| FORM 990, PART VI, SECTION A, LINE 3 | PNC BANK, NATIONAL ASSOCIATION, A NATIONAL BANKING ASSOCIATION ORGANIZED AND EXISTING UNDER THE LAWS OF THE UNITED STATES ("PNC BANK OR "TRUSTEE"), IS THE INSTITUTIONAL TRUSTEE FOR THE AFL-CIO BUILDING INVESTMENT TRUST (THE "TRUST"), WHICH IS THE PARENT FOR BIT HOLDINGS SEVENTY-TWO, INC. PURSUANT TO THE TRUST AGREEMENT, PNC BANK IS RESPONSIBLE FOR ALL ASPECTS OF THE MANAGEMENT AND ADMINISTRATION OF THE TRUST, INCLUDING THE SELECTION OF THE INVESTMENTS. PURSUANT TO AN INVESTMENT ADVISORY AGREEMENT, AS AMENDED FROM TIME TO TIME, PNC BANK CURRENTLY RETAINS PNC REALTY INVESTORS, INC., AN INVESTMENT ADVISOR REGISTERED WITH THE SEC PURSUANT TO THE INVESTMENT ADVISERS ACT OF 1940, AS AMENDED ("PRI OR "INVESTMENT ADVISOR"), TO PERFORM INVESTMENT ADVISORY, MANAGEMENT, AND ADMINISTRATIVE SERVICES. PURSUANT TO THE INVESTMENT ADVISORY AGREEMENT AND OTHER POLICIES AND PROCEDURES FOR THE TRUST, EMPLOYEES OF PRI AND/OR PNC BANK SERVE AS THE OFFICERS AND DIRECTORS OF THE SINGLE PURPOSE ENTITIES OF THE TRUST, INCLUDING BIT HOLDINGS SEVENTY-TWO, WHICH OWN, DIRECTLY OR INDIRECTLY, THE REAL ESTATE INVESTMENTS. GENERALLY, NEITHER THE TRUST NOR THE SINGLE PURPOSE ENTITIES, INCLUDING BIT HOLDINGS SEVENTY-TWO, HAS EMPLOYEES OF THEIR OWN. RATHER, THE TRUST AND BIT HOLDINGS SEVENTY-TWO ARE ADMINISTRATED AND MANAGED THROUGH PNC BANK AND PRI EMPLOYEES, INTERNAL COMMITTEES AND MANAGEMENT. PNC BANK EARNS A TRUSTEE'S FEE, WHICH IS PAID OUT OF THE ASSETS OF THE TRUST. CERTAIN EXPENSES OF PNC BANK AND PRI, IN CONNECTION WITH THEIR SERVICES TO THE TRUST, ARE REIMBURSED FROM THE ASSETS OF THE TRUST. EMPLOYEES OF PNC BANK AND PRI ARE COMPENSATED DIRECTLY BY THEIR EMPLOYERS; NO COMPENSATION IS PROVIDED BY THE TRUST OR BIT HOLDINGS SEVENTY-TWO. |
| FORM 990, PART VI, SECTION A, LINE 6 | BIT HOLDINGS SEVENTY-TWO, INC. IS A TITLE HOLDING CORPORATION WITHIN THE MEANING OF IRC SECTION 501(C)(2). IT IS ORGANIZED AND OPERATED EXCLUSIVELY TO HOLD TITLE TO PROPERTY, COLLECT INCOME FROM SUCH PROPERTY, AND DISTRIBUTE SUCH INCOME, LESS APPLICABLE EXPENSES, TO ITS DIRECT OR INDIRECT SOLE OWNER, THE AFL-CIO BUILDING INVESTMENT TRUST (THE "TRUST"). THE TRUST IS A BANK COLLECTIVE TRUST FUND IN WHICH QUALIFIED PENSION AND RETIREMENT PLANS INVEST. PURSUANT TO AN IRS DETERMINATION LETTER, THE TRUST QUALIFIES AS A GROUP TRUST WITHIN THE MEANING OF REVENUE RULING 81-100 AND, THEREFORE, IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXATION UNDER CODE SECTION 501(A). THE TRUST INVESTS, PRIMARILY THROUGH EQUITY INVESTMENT AND MORTGAGE FINANCING, IN COMMERCIAL REAL ESTATE DEVELOPMENTS AND ACQUISITIONS THROUGHOUT THE UNITED STATES. THE TRUST GENERALLY INVESTS EQUITY IN REAL ESTATE INDIRECTLY THROUGH ONE OR MORE SINGLE PURPOSE ENTITIES, SUCH AS BIT HOLDINGS SEVENTY-TWO, INC. |
| FORM 990, PART VI, SECTION A, LINE 7A | REFER TO THE DISCLOSURE BELOW FOR FORM 990, PART VI, LINE 7B. |
| FORM 990, PART VI, SECTION A, LINE 7B | PNC BANK, IN ITS CAPACITY AS TRUSTEE OF THE AFL-CIO BUILDING INVESTMENT TRUST, HAS THE POWER TO ELECT AND REMOVE THE DIRECTORS OF THE ORGANIZATION, APPROVE MERGERS AND APPROVE THE DISSOLUTION OF THE ORGANIZATION. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS PREPARED BY DELOITTE TAX, LLP BASED ON INFORMATION PROVIDED BY THE ORGANIZATION. PRIOR TO FILING, THE FORM 990 IS REVIEWED IN DETAIL BY THE SECRETARY AND A COPY IS PROVIDED TO THE ENTIRE GOVERNING BODY. DELOITTE TAX, LLP THEN SIGNS AS THE PREPARER AND THE SECRETARY SIGNS ON BEHALF OF THE ORGANIZATION. |
| FORM 990, PART VI, SECTION B, LINE 12 | PNC BANK AND PRI HAVE WRITTEN AND ORAL INTERNAL POLICIES AND PROCEDURES REGARDING THE ADMINISTRATION AND MANAGEMENT OF THE TRUST, WHICH WOULD ALSO EXTEND TO THEIR PERFORMANCE OF SERVICES TO THE SINGLE PURPOSE ENTITIES, INCLUDING BIT HOLDINGS SEVENTY-TWO. THE WRITTEN POLICIES OF PNC AND/OR PRI INCLUDE, BUT ARE NOT LIMITED TO, POLICIES AND PROCEDURES DESIGNED TO PREVENT, MONITOR AND DISCLOSE ANY APPLICABLE CONFLICTS OF INTEREST, RECORD RETENTION AND DESTRUCTION POLICIES, AND WHISTLEBLOWING POLICIES AND PROCEDURES. THE RECORD-RETENTION POLICIES GENERALLY REQUIRE RECORD RETENTION FOR A MINIMUM OF FIVE OR MORE YEARS. ALL POLICIES AND PROCEDURES, INCLUDING THOSE MENTIONED ABOVE, ARE MONITORED BY THE APPLICABLE COMPLIANCE DEPARTMENTS AND OFFICERS ON PERIODIC BASIS, AND INTERNAL AUDIT DEPARTMENTS OF PNC AND PRI ROUTINELY TEST THESE POLICIES AND PROCEDURES. ALL EMPLOYEES OF PNC BANK AND PRI, INCLUDING THOSE EMPLOYEES WHO SERVE AS THE OFFICERS AND DIRECTORS OF BIT HOLDINGS SEVENTY-TWO, ARE SUBJECT TO THESE POLICIES AND PROCEDURES, AND ARE CHARGED WITH DISCLOSING IMMEDIATELY OR ROUTINELY, AS APPLICABLE, CONFLICTS OF INTEREST. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC. THERE IS NO CONFLICT OF INTEREST POLICY OR FINANCIAL STATEMENTS APPLICABLE TO ONLY THE ORGANIZATION AND THE BROADER POLICIES AND FINANCIAL STATEMENTS ARE NOT AVAILABLE TO THE PUBLIC. SEE FURTHER EXPLANATION REGARDING THE CONFLICT OF INTEREST POLICY IN THE DISCLOSURE FOR FORM 990, PART VI, SECTION B, LINE 12. |
| FORM 990, PART XI, LINE 9: | CAPITAL CONTRIBUTIONS: 5,782,590. DISTRIBUTIONS TO PARENT: -7,711,885. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (4 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|
| BIT HOLDINGS TWENTY-ONE INC | |||||||||
| C/O PNC BANK NA ONE E PRATT ST | BALTIMORE | MD | 21202 | 522021323 | TITLE HOLDING COMPANY | MD | 501(C)(2) | AFL-CIO BIT | 0 |
| BIT HOLDINGS THREE INC | |||||||||
| C/O PNC BANK NA ONE E PRATT ST | BALTIMORE | MD | 21202 | 521876490 | TITLE HOLDING COMPANY | MD | 501(C)(25) | AFL-CIO BIT | 0 |
| BIT HOLDINGS FIVE INC | |||||||||
| C/O PNC BANK NA ONE E PRATT ST | BALTIMORE | MD | 21202 | 521876489 | TITLE HOLDING COMPANY | MD | 501(C)(2) | AFL-CIO BIT | 0 |
| BIT HOLDINGS SEVENTY-NINE INC | |||||||||
| C/O PNC BANK NA ONE E PRATT ST | BALTIMORE | MD | 21202 | 823734114 | TITLE HOLDING COMPANY | MD | 501(C)(2) | AFL-CIO BIT | 0 |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Direct Controlling NADirectControllingNACd | Entity TypeEntityTypeTxt | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|
| AFL-CIO BUILDING INVESTMENT TRUST | |||||||||
| C/O PNC BANK NA ONE E PRATT ST | BALTIMORE | MD | 21202 | 526328901 | RE INVESTMENT | MD | N/A | T | 0 |
| BIT TCC INVESTMENT ONE LLC | |||||||||
| C/O PNC BANK NA ONE E PRATT ST | BALTIMORE | MD | 21202 | 611698188 | REAL ESTATE | MD | N/A | C | 0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | Yes (1) | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | Yes (1) | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |