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← BNSIC TITLE HOLDING CORPORATION

Form 990 for tax year 2022

Filed by BNSIC TITLE HOLDING CORPORATION.

Totals

Total revenue
-$30,846
Total expenses
$62,631
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
-$19,465
Other revenue
-$11,381
Total assets, end of year
$29,768
Total liabilities, end of year
$326,632
Net assets or fund balances, end of year
-$296,864
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 $23,799

  • 6b · Less rental expenses

    real property $35,180

  • 6c · Rental income or loss

    real property -$11,381

  • 6d · Net rental income or loss

    total -$11,381 · excluded -$11,381

  • 7a · Gross sales of assets other than inventory

    other assets $518,000

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

    other assets $537,465

  • 7c · Gain or loss

    other assets -$19,465

  • 7d · Net gain or loss

    total -$19,465 · excluded -$19,465

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $21,273

  • 8 · Pension plan contributions

    total $5,031

  • 9 · Other employee benefits

    total $5,990

  • 10 · Payroll taxes

    total $1,627

  • 11b · Fees: legal

    total $2,041

  • 16 · Occupancy

    total $19,242

  • 23 · Insurance

    total $5,268

  • 24a · Other expenses: DC TAXES

    total $2,029

  • 24e · All other expenses

    total $130

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $24,998 · end of year $25,491

  • 4 · Accounts receivable

    beginning of year $12,348 · end of year $3,876

  • 9 · Prepaid expenses and deferred charges

    beginning of year $498 · end of year $401

  • 15 · Other assets

    beginning of year $500,000 · end of year $0

  • 25 · Other liabilities

    beginning of year $741,231 · end of year $326,632

  • 27 · Net assets without donor restrictions

    beginning of year -$203,387 · end of year -$296,864

Mission and programs · 2022

Mission

THE BNSIC TITLE HOLDING CORPORATION WAS ESTABLISHED TO HOLD PROPERTY DONATED TO ITS PARENT ORGANIZATION, THE BASILICA OF THE NATIONAL SHRINE OF THE IMMACULATE CONCEPTION UNTIL THE PROPERTY IS SOLD.

Activities or mission (Part I)

TO HOLD PROPERTY DONATED TO THE BASILICA OF THE NATIONAL SHRINE OF THE IMMACULATE CONCEPTION.

  • 13 RENTAL PROPERTIES WERE DONATED TO BNSIC TITLE HOLDING CORPORATION'S PARENT ORGANIZATION, THE BASILICA OF THE NATIONAL SHRINE OF THE IMMACULATE CONCEPTION, ON FEBRUARY 20, 2018. ALL OF THESE PROPERTIES ARE LOCATED WITHIN THE DISTRICT OF COLUMBIA WITH A TOTAL OF 34 TENANTS AS OF JUNE 30, 2018. THE TITLES OF THE 13 PROPERTIES WERE TRANSFERRRED TO BNSIC TITLE HOLDING CORPORATION FROM IT'S PARENT ORGANIZATION. THE POLICIES OF THE BASILICA OF THE NATIONAL SHRINE OF THE IMMACULATE CONCEPTION REQUIRE DONATED REAL ESTATE PROPERTIES TO BE SOLD AS SOON AS IT IS PRACTICAL TO DO SO. THE SOLE ACTIVITY OF THE BNSIC TITLE HOLDING CORPORATION IS TO HOLD THESE PROPERTIES UNTIL THEY ARE SOLD. AS OF JUNE 30, 2023, ALL PROPERTIES HAVE BEEN SOLD.

As filed on the 2022 return.

Listed in Part VII

  • Rev Monsignor Walter R Rossi

    PRESIDENT

    Total calculated
    $121,958
    From this org
    $3,088
    From related orgs
    $74,110
    Other
    $44,760
    Hours/week
    2 + 48 related

  • Rev Monsignor Vito A Buonamo

    VICE PRESIDENT

    Total calculated
    $98,231
    From this org
    $529
    From related orgs
    $52,366
    Other
    $45,336
    Hours/week
    0.5 + 49.5 related

  • Father Ismael Ayala

    VICE PRESIDENT

    Total calculated
    $105,246
    From this org
    $475
    From related orgs
    $47,026
    Other
    $57,745
    Hours/week
    5 + 49.5 related

  • Daniel P MacGregor

    SECRATARY/TREASURER

    Total calculated
    $237,588
    From this org
    $17,181
    From related orgs
    $176,102
    Other
    $44,305
    Hours/week
    4 + 41 related

    Schedule J breakdown matched by us

    Base
    $17,181 + $176,102 related
    Bonus
    $0
    Other
    $0
    Deferred
    $2,045 + $20,956 related
    Nontaxable benefits
    $1,894 + $19,410 related
    Filer's total
    $21,120 + $216,468 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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

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.

  • BASILICA OF THE NATIONAL SHRINE OF THE IMMACULATE CONCEPTION

    501(C)(3) · CATHOLIC CHURCH · DC

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.

  • 1265 RAUM STREET LLC

    RENTAL PROPERTY · DC · income -$11,381 · assets $0

    Directly controlled by BNSIC TITLE HOLDING CORPORATION

Provenance

Return type
form_990
Tax year
2022
Filed
29 January 2024
IRS schema version
2022v5.0
Source object
202400379349301300

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