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← BIT HOLDINGS THREE INC

Form 990 for tax year 2022

Filed by BIT HOLDINGS THREE INC.

Totals

Total revenue
$40,242,400
Total expenses
$7,658,228
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
-$14,406,220
Other revenue
$54,648,620
Total assets, end of year
$969,623,957
Total liabilities, end of year
$178,290,667
Net assets or fund balances, end of year
$791,333,290
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 6a · Gross rents

    real property $93,924,791

  • 6b · Less rental expenses

    real property $39,276,171

  • 6c · Rental income or loss

    real property $54,648,620

  • 6d · Net rental income or loss

    total $54,648,620 · excluded $54,648,620

  • 7b · Less cost or other basis and sales expenses

    other assets $14,406,220

  • 7c · Gain or loss

    other assets -$14,406,220

  • 7d · Net gain or loss

    total -$14,406,220 · excluded -$14,406,220

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $80,737

  • 20 · Interest

    total $7,441,037

  • 22 · Depreciation, depletion and amortization

    total $19,453

  • 24a · Other expenses: APPRAISAL FEES

    total $115,087

  • 24b · Other expenses: TAXES

    total $1,914

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,276,419 · end of year $3,501,568

  • 2 · Savings and temporary cash investments

    end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $2,265,165 · end of year $2,857,637

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,150,330 · end of year $1,471,729

  • 10a · Land, buildings and equipment: cost or other basis

    $961,793,023

  • 10c · Land, buildings and equipment, net

    beginning of year $1,282,100,000 · end of year $961,793,023

  • 17 · Accounts payable and accrued expenses

    beginning of year $22,694,143 · end of year $19,074,009

  • 19 · Deferred revenue

    beginning of year $1,948,205 · end of year $1,598,019

  • 24 · Unsecured notes and loans payable

    beginning of year $256,000,019 · end of year $156,000,000

  • 25 · Other liabilities

    beginning of year $2,379,402 · end of year $1,618,639

  • 29 · Capital stock, trust principal or current funds

    beginning of year $1,006,770,145 · end of year $791,333,290

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2022

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.

Activities or mission (Part I)

THE CORPORATION WAS ORGANIZED TO ACQUIRE REAL PROPERTY, HOLD TITLE THERETO, COLLECT INCOME FROM SUCH PROPERTY, AND REMIT THE ENTIRE AMOUNT LESS EXPENSES TO QUALIFIED SHAREHOLDERS.

  • 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 THE AFL-CIO BUILDING INVESTMENT TRUST. DURING 2022, BIT HOLDINGS THREE OWNED SEVERAL PROPERTIES, DIRECTLY AND INDIRECTLY, AND DISTRIBUTED APPROXIMATELY $341 MILLION OF EARNINGS FROM THE RENTAL OF SUCH PROPERTY TO THE AFL-CIO BUILDING INVESTMENT TRUST.

As filed on the 2022 return.

Listed in Part VII

  • Rinse A Brink

    PRES/ASST SECRETARY/ASST TREASURER

    Total calculated
    $0
    Hours/week
    0.2 + 0.8 related

  • Austin Cates

    VP/ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    0.1 + 0.4 related

  • Robert Coulman

    VP/ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    0.1 + 0.4 related

  • Clayton Flanagan

    VP/ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    0.2 + 0.8 related

  • Cynthia Helms

    VP/SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    0.2 + 0.8 related

  • Kenneth Marty Jr

    VP/ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    0.1 + 0.4 related

  • William K Mihm

    VP/ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    0.1 + 0.4 related

  • Pnc Bank Na

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.1 + 0.4 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • BIT HOLDINGS FORTY-SIX INC

    TITLE HOLDING COMPANY · MD · income $4,791,767 · assets $314,534

    Directly controlled by BIT HOLDINGS THREE INC

  • BIT HOLDINGS FIFTY-ONE INC

    TITLE HOLDING COMPANY · MD · income $2,944,157 · assets $53,098,381

    Directly controlled by BIT HOLDINGS THREE INC

  • BIT HOLDINGS FIFTY-FOUR INC

    TITLE HOLDING COMPANY · MD · income $5,720,121 · assets $47,230,902

    Directly controlled by BIT HOLDINGS THREE INC

  • BIT HOLDINGS SIXTY-THREE INC

    TITLE HOLDING COMPANY · MD · income $4,393,743 · assets $103,122,566

    Directly controlled by BIT HOLDINGS THREE INC

  • BIT HOLDINGS SIXTY-FIVE INC

    TITLE HOLDING COMPANY · MD · income $4,068 · assets $0

    Directly controlled by BIT HOLDINGS THREE INC

  • BIT HOLDINGS SIXTY-SEVEN INC

    TITLE HOLDING COMPANY · MD · income $5,683,242 · assets $164,120,959

    Directly controlled by BIT HOLDINGS THREE INC

  • BIT HOLDINGS SIXTY-EIGHT INC

    TITLE HOLDING COMPANY · MD · income $4,412,301 · assets $665,660

    Directly controlled by BIT HOLDINGS THREE INC

  • BIT HOLDINGS SIXTY-NINE INC

    TITLE HOLDING COMPANY · MD · income $0 · assets $0

    Directly controlled by BIT HOLDINGS THREE INC

  • BIT HOLDINGS SEVENTY-THREE INC

    TITLE HOLDING COMPANY · MD · income $114,430 · assets $0

    Directly controlled by BIT HOLDINGS THREE INC

  • BIT HOLDINGS SEVENTY-FOUR INC

    TITLE HOLDING COMPANY · MD · income $0 · assets $0

    Directly controlled by BIT HOLDINGS THREE INC

  • BIT HOLDINGS SEVENTY-FIVE INC

    TITLE HOLDING COMPANY · MD · income $0 · assets $0

    Directly controlled by BIT HOLDINGS THREE INC

  • BIT HOLDINGS SEVENTY-SIX INC

    TITLE HOLDING COMPANY · MD · income $17,646,872 · assets $292,000,719

    Directly controlled by BIT HOLDINGS THREE INC

  • BIT HOLDINGS SEVENTY-SEVEN INC

    TITLE HOLDING COMPANY · MD · income $5,517,061 · assets $167,166,237

    Directly controlled by BIT HOLDINGS THREE INC

  • BIT HOLDINGS SEVENTY-EIGHT INC

    TITLE HOLDING COMPANY · MD · income $1,875,259 · assets $98,729,821

    Directly controlled by BIT HOLDINGS THREE INC

  • BIT HOLDINGS SEVENTY-NINE INC

    TITLE HOLDING COMPANY · MD · income $1,545,599 · assets $43,174,177

    Directly controlled by BIT HOLDINGS THREE INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • AFL-CIO BUILDING INVESTMENT TRUST

    T · RE INVESTMENT · MD

  • BIT TCC INVESTMENT ONE LLC

    C · REAL ESTATE · MD

Provenance

Return type
form_990
Tax year
2022
Filed
28 March 2023
IRS schema version
2022v5.0
Source object
202330949349300943

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