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Nonprofiteer
← BIT HOLDINGS FIVE INC C/O GREAT GRAY TRUST COMPANY

Form 990 for tax year 2022

Filed by BIT HOLDINGS FIVE INC C/O GREAT GRAY TRUST COMPANY.

Totals

Total revenue
$66,564,935
Total expenses
$737
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$67,202,455
Other revenue
-$637,520
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
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.

  • 3 · Investment income

    total $38 · excluded $38

  • 6a · Gross rents

    real property $214,312

  • 6b · Less rental expenses

    real property $851,832

  • 6c · Rental income or loss

    real property -$637,520

  • 6d · Net rental income or loss

    total -$637,520 · excluded -$637,520

  • 7a · Gross sales of assets other than inventory

    other assets $83,699,864

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

    other assets $16,497,447

  • 7c · Gain or loss

    other assets $67,202,417

  • 7d · Net gain or loss

    total $67,202,417 · excluded $67,202,417

Functional expenses

Part IX, the statement of functional expenses.

  • 22 · Depreciation, depletion and amortization

    total $737

Balance sheet

Part X, book values.

  • 15 · Other assets

    beginning of year $18,707,175 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $18,707,175 · end of year $0

  • 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)

ORGANIZED FOR THE PURPOSE OF ACQUIRING REAL PROPERTY, HOLDING TITLE THERETO, COLLECTING THE INCOME FROM SUCH PROPERTY, AND REMITTING THE ENTIRE AMOUNT LESS EXPENSES TO QUALIFIED SHAREHOLDERS.

  • BIT HOLDINGS FIVE, INC. WAS ORGANIZED FOR THE EXCLUSIVE PURPOSE 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 FIVE HELD AN INDIRECT INTEREST IN NON-RESIDENTIAL REAL PROPERTY AND DISTRIBUTED APPROXIMATELY $88 MILLION OF EARNINGS FROM THE RENTAL AND SALE 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

  • 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

  • Robert Coulman

    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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • BREA GATEWAY CENTER LP

    EXCLD UNDER 512-514 · PROPERTY MANAGEMENT · IL · share of income $66,564,935

    Directly controlled by BIT HOLDINGS FIVE 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 · RE INVESTMENT · DE

Provenance

Return type
form_990
Tax year
2022
Filed
25 October 2023
IRS schema version
2022v5.0
Source object
202332999349301998

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