Overview
What is Bnsic Title Holding Corporation?
Bnsic Title Holding Corporation is a nonprofit organization, headquartered in Washington, D.C., with a specific mission. It was established to manage 13 rental properties that were donated to its parent organization, the Basilica of the National Shrine of the Immaculate Conception, in 2018. These properties, all situated within Washington, D.C., house a total of 34 tenants. The nonprofit's sole activity is to hold onto these properties until they are sold, as per the Basilica's policies. As of June 30, 2022, only one property remains unsold. The corporation serves as a steward for these donated properties, ensuring their eventual sale to contribute to its parent organization's objectives.
Is Bnsic Title Holding Corporation legitimate?
Bnsic Title Holding Corporation is a legitimate nonprofit organization registered as a 501(c)(2) entity. Bnsic Title Holding Corporation 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $20,763
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Bnsic Title Holding Corporation?
The Bnsic Title Holding Corporation was established with a specific mission: to hold property donated to its parent organization, the Basilica of the National Shrine of the Immaculate Conception, until it is sold. The corporation received 13 rental properties as donations on February 20, 2018, all located within the District of Columbia. As of June 30, 2018, these properties housed 34 tenants. The corporation's sole activity is to hold these properties until they are sold, with only one property remaining unsold as of June 30, 2022. The Basilica's policies require donated real estate properties to be sold as soon as it is practical to do so. The corporation's mission does not involve managing the properties or providing services to the tenants; its primary function is to serve as a holding entity until the properties are sold.
Who is the CEO of Bnsic Title Holding Corporation?
Rev Monsignor Walter R is the Principal Officer of Bnsic Title Holding Corporation.
What is the revenue of Bnsic Title Holding Corporation?
Bnsic Title Holding Corporation's revenue in 2022 was $7,732.
Who are the executives of Bnsic Title Holding Corporation and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $2,794
- Related: $67,066
- Other: $42,325
- Compensation: $496
- Related: $49,062
- Other: $41,227
- Compensation: $162
- Related: $16,055
- Other: $15,806
- Compensation: $17,311
- Related: $177,435
- Other: $44,410
Where can I find the form 990 for Bnsic Title Holding Corporation?
Bnsic Title Holding Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Bnsic Title Holding Corporation
Bnsic Title Holding Corporation, established with the mission to support its parent organization, the Basilica of the National Shrine of the Immaculate Conception, holds property donated to the shrine. The corporation's primary function is to safeguard these donated properties until they can be sold, in accordance with the Basilica's policies. In 2018, thirteen rental properties were transferred to Bnsic Title Holding Corporation, all situated within the District of Columbia, housing a total of 34 tenants. As of 2022, only one property remains unsold, signifying the corporation's ongoing role in preserving and eventually selling these donated properties.
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Impact
October, 2024
Bnsic Title Holding Corporation plays a significant role in managing and facilitating the transition of valuable real estate assets for the Basilica of the National Shrine of the Immaculate Conception. By holding the 13 rental properties donated to the Basilica, Bnsic Title ensures these properties are maintained and managed appropriately until they can be sold, in line with the Basilica’s policies regarding donated real estate.
Located within the District of Columbia, these properties provide housing for 34 tenants as of June 30, 2018, contributing to the local community's rental market. By effectively overseeing these assets, Bnsic Title is able to support the Basilica's mission while also contributing to community improvement through responsible property management. As of June 30, 2022, the corporation has successfully managed the sale of all but one property, demonstrating its effectiveness in handling real estate donations and optimizing the value for its parent organization. This approach aligns with the mission of enhancing community resources and aiding in the Basilica's broader outreach and initiatives.
This information is meant to be a general summary of Bnsic Title Holding Corporation. 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: $35,282
Assets and Liabilities:
- Total Assets: $537,844
- Total Liabilities: $741,231
- Net Assets: -$203,387
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Organization Details
Founding Year
2017
Phone
(202) 526-8300Principal Officer
Rev Monsignor Walter R
Main Address
400 MICHIGAN AVENUE NE, WASHIGTON, DC, 20017
NTEE Category
Code: S47 - Community improvement
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