Overview
What is Bit Holdings Seventy-Two Inc?
Bit Holdings Seventy-Two Inc is a nonprofit organization primarily focused on acquiring and managing real estate properties. By holding title to these properties, the organization generates income through rentals. The primary objective of Bit Holdings Seventy-Two Inc is to pass on the net earnings, minus expenses, to its qualified shareholders. Established in Baltimore, Maryland, the organization played a significant role in distributing approximately $7.1 million in earnings from its property rentals in 2022.
Official website here: www.none
Is Bit Holdings Seventy-Two Inc legitimate?
Bit Holdings Seventy-Two Inc is a legitimate nonprofit organization registered as a 501(c)(2) entity. Bit Holdings Seventy-Two Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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Official website here: www.none
What is the mission statement of Bit Holdings Seventy-Two Inc?
Bit Holdings Seventy-Two Inc was established with the primary objective of acquiring real property. The company holds title to the property and generates income from it. The main purpose of this income collection is to remit a significant portion, after deducting expenses, to qualified shareholders. The company, in 2022, owned residential real property and distributed approximately $7.1 million in earnings from the rental of such property to the AFL-CIO Building Investment Trust. In essence, Bit Holdings Seventy-Two Inc serves as a real estate investment vehicle, generating income from property ownership and distributing a portion of it to its qualified shareholders.
Official website here: www.none
Who is the CEO of Bit Holdings Seventy-Two Inc?
Cynthia Helms is the Pres/Asst Secretary/Asst T of Bit Holdings Seventy-Two Inc.
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What is the revenue of Bit Holdings Seventy-Two Inc?
Bit Holdings Seventy-Two Inc's revenue in 2022 was $3,149,490.
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Who are the executives of Bit Holdings Seventy-Two Inc and what are their salaries?
Here are 8 key members and their salaries:
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Official website here: www.none
Learn more at the official website: www.none
Mission Statement of Bit Holdings Seventy-Two Inc
Bit Holdings Seventy-Two Inc, as an organization, was established with a specific objective. Its primary mission was to procure real property, maintain ownership of it, collect the income generated from the property, and subsequently distribute the net earnings, excluding expenses, to a particular group of shareholders. This group of shareholders was the AFL-CIO Building Investment Trust. In simpler terms, Bit Holdings Seventy-Two Inc served as a real estate investment entity, generating income from its properties and distributing the majority of the profits to its designated shareholders.
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Impact
October, 2024
Bit Holdings Seventy-Two Inc significantly impacts the local community and economy through its strategic acquisition and management of residential real estate. By owning and renting out properties, the organization generates a substantial income, approximately $7.1 million in 2022, which is then remitted to the AFL-CIO Building Investment Trust. This flow of income not only supports the financial goals of the trust but also contributes to the stability of the housing market in Baltimore, MD.
Through its operations, Bit Holdings Seventy-Two Inc plays a crucial role in providing rental properties, thus contributing to the availability of housing for residents. The organization’s focus on collecting income from these properties ensures that resources are continually directed toward supporting the trust and its affiliated stakeholders. Overall, Bit Holdings Seventy-Two Inc enhances the economic landscape by facilitating real estate investments and promoting housing stability within the community.
This information is meant to be a general summary of Bit Holdings Seventy-Two Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $7,082,843
Assets and Liabilities:
- Total Assets: $135,867,464
- Total Liabilities: $82,431,210
- Net Assets: $53,436,254
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Organization Details
Founding Year
2014
Phone
(410) 237-5727Principal Officer
Cynthia Helms
Main Address
CO PNC BANK NA ONE E PRATT STREET, BALTIMORE, MD, 21202
Website
www.noneNTEE Category
Code: W11 - Public benefit
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