2024-11-15T07:56:27-06:00 2023-12-31 251408703 SCHNEIDER DOWNS & CO INC ONE PPG PLACE SUITE 1700 PITTSBURGH PA 15222 990 2023-01-01 471256046 BIT HOLDINGS SEVENTY-TWO INC BITH 8664276885 6725 VIA AUSTI PARKWAY 260 LAS VEGAS NV 89119 JENNIFER E MATZ SECRETARY 8664276885 2024-11-14 1 1 SARAH R PIOT P01358891 4122613644 2023 2024-10-15 13:58:12Z JENNIFER E MATZ 6725 VIA AUSTI PARKWAY 260 LAS VEGAS NV 89119 7367423 0 X NONE X 2014 MD ORGANIZED FOR THE PURPOSE OF ACQUIRING REAL PROPERTY, HOLDING TITLE THERETO, COLLECTING THE INCOME FROM SUCH PROPERTY, AND REMITTING THE NET AMOUNT TO QUALIFIED SHAREHOLDERS. 4 4 0 0 0 0 0 0 0 0 0 0 3149490 3005144 3149490 3005144 0 0 0 0 0 0 0 0 0 2214191 1529252 2214191 1529252 935299 1475892 135867464 106946320 82431210 31901167 53436254 75045153 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. 0 0 BIT HOLDINGS SEVENTY-TWO, INC. 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 2023, BIT HOLDINGS SEVENTY-TWO OWNED RESIDENTIAL REAL PROPERTY AND DISTRIBUTED APPROXIMATELY $7.4 MILLION OF EARNINGS FROM THE RENTAL OF SUCH PROPERTY TO THE AFL-CIO BUILDING INVESTMENT TRUST. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 11 0 1 0 0 0 0 0 0 0 0 0 X 4 4 1 1 0 0 1 1 1 1 1 0 0 1 0 0 0 0 0 0 CA X JENNIFER E MATZ 8664276885 6725 VIA AUSTI PARKWAY 260 LAS VEGAS NV 89119 X RINSE A BRINK EXIT 515 PRES/ASST SEC/ASST TREAS 0.20 0.80 X X 0 0 0 AUSTIN CATES EXIT 515 VP/ASSISTANT SECRETARY 0.10 0.40 X X 0 0 0 CLAYTON FLANAGAN EXIT 515 VP/ASSISTANT SECRETARY 0.20 0.80 X X 0 0 0 CYNTHIA HELMS EXIT 515 VP/SECRETARY/TREASURER 0.20 0.80 X X 0 0 0 KENNETH MARTY JR EXIT 515 VP/ASSISTANT SECRETARY 0.10 0.40 X X 0 0 0 WILLIAM K MIHM EXIT 515 VP/ASSISTANT SECRETARY 0.10 0.40 X X 0 0 0 ROBERT COULMAN EXIT 515 VP/ASSISTANT SECRETARY 0.10 0.40 X X 0 0 0 ROBERT N BARNETT III PRESIDENT (ENTER 5/15) 0.10 0.40 X X 0 0 0 CHRISTOPHER RANDALL VICE PRESIDENT (ENTER 5/15) 0.10 0.40 X X 0 0 0 JENNIFER E MATZ SECRETARY (ENTER 5/15) 0.10 0.40 X X 0 0 0 CHRISTOPHER M BLAKE TREASURER (ENTER 5/15) 0.10 0.40 X X 0 0 0 PNC BANK NA (EXIT 515) TRUSTEE 0.10 0.40 X 0 0 0 GREAT GRAY TRUST COMPANY LLC TRUSTEE (ENTER 5/15) 0.10 0.40 X 0 0 0 0 0 0 0 0 0 0 0 7367423 4362279 3005144 3005144 3005144 3005144 0 0 3005144 2089 34020 784800 708343 1529252 205995 207416 666749 632132 31994720 31406772 74700000 103000000 74700000 135867464 106946320 272367 342276 14405 13616 50000000 0 32144438 31545275 82431210 31901167 X 30456974 79508507 0 0 22979280 -4463354 53436254 75045153 135867464 106946320 X 1475892 -28918526 49051533 X X 0 1 X 1 0 69945028 69945028 3685453 3685453 614801 614801 454718 454718 74700000 OTHER ACCOUNTS PAYABLE 31111435 SECURITY DEPOSITS 249407 OTHER LIABILITIES 184433 31545275 X PART X, LINE 2: BIT HOLDINGS SEVENTY-TWO, INC. IS A TITLE HOLDING CORPORATION WITHIN THE MEANING OF IRC SECTION 501(C)(2), AND A WHOLLY-OWNED SUBSIDIARY OF THE AFL-CIO BUILDING INVESTMENT TRUST (THE "TRUST"). THE INCOME TAX FOOTNOTE FROM THE TRUST'S 2023 CONSOLIDATED FINANCIAL STATEMENTS IS AS FOLLOWS: THE INTERNAL REVENUE SERVICE HAS RULED THAT THE TRUST IS A QUALIFIED TRUST AS DESCRIBED IN REVENUE RULING 81-100 AND IS EXEMPT FROM INCOME TAX UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE, WITH RESPECT TO FUNDS THAT EQUITABLY BELONG TO PARTICIPATING TRUSTS THAT ARE QUALIFIED UNDER 401(A). THE TRUST IS SUBJECT TO TAX ON ITS UNRELATED BUSINESS INCOME. DURING 2023, THE TRUST DID NOT GENERATE ANY SIGNIFICANT UNRELATED BUSINESS INCOME. ACCORDINGLY, NO PROVISION FOR FEDERAL OR STATE INCOME TAX HAS BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES REQUIRE THE TRUST TO DETERMINE WHETHER A TAX POSITION TAKEN BY THE TRUST IS MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPLICABLE TAXING AUTHORITY, BASED ON THE TECHNICAL MERITS OF THE POSITION. FOR THE TRUST, THE TAX YEARS ENDED DECEMBER 31, 2020 THROUGH THE CURRENT YEAR REMAIN OPEN FOR EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. THE TRUST HAS NO UNRECOGNIZED TAX BENEFITS OR LIABILITIES, AND CONSEQUENTLY, HAD NO RELATED ACCRUED INTEREST AND PENALTIES AT THE BEGINNING OR END OF 2023. FORM 990, PART VI, SECTION A, LINE 2 ALL OFFICERS AND DIRECTORS ARE EMPLOYED DIRECTLY OR INDIRECTLY BY THE INSTITUTIONAL TRUSTEE OF BIT HOLDINGS SEVENTY-TWO, INC.'S PARENT COMPANY. SEE DISCLOSURE FOR FORM 990, PART VI, SECTION A, LINE 3 FOR FURTHER EXPLANATION. FORM 990, PART VI, SECTION A, LINE 3 GREAT GRAY TRUST COMPANY, LLC IS THE INSTITUTIONAL TRUSTEE FOR THE AFL-CIO BUILDING INVESTMENT TRUST (THE "TRUST"), WHICH IS THE PARENT FOR BIT HOLDINGS SEVENTY-TWO, INC. PURSUANT TO THE TRUST AGREEMENT, GREAT GRAY TRUST COMPANY, LLC IS RESPONSIBLE FOR ALL ASPECTS OF THE MANAGEMENT AND ADMINISTRATION OF THE TRUST, INCLUDING THE SELECTION OF THE INVESTMENTS. FORM 990, PART VI, SECTION A, LINE 6 BIT HOLDINGS SEVENTY-TWO, INC. IS A TITLE HOLDING CORPORATION WITHIN THE MEANING OF IRC SECTION 501(C)(2). IT IS ORGANIZED AND OPERATED EXCLUSIVELY TO HOLD TITLE TO PROPERTY, COLLECT INCOME FROM SUCH PROPERTY, AND DISTRIBUTE SUCH INCOME, LESS APPLICABLE EXPENSES, TO ITS DIRECT OR INDIRECT SOLE OWNER, THE AFL-CIO BUILDING INVESTMENT TRUST (THE "TRUST"). THE TRUST IS A BANK COLLECTIVE TRUST FUND IN WHICH QUALIFIED PENSION AND RETIREMENT PLANS INVEST. PURSUANT TO AN IRS DETERMINATION LETTER, THE TRUST QUALIFIES AS A GROUP TRUST WITHIN THE MEANING OF REVENUE RULING 81-100 AND THEREFORE, IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXATION UNDER CODE SECTION 501(A). THE TRUST INVESTS, PRIMARILY THROUGH EQUITY INVESTMENT AND MORTGAGE FINANCING, IN COMMERCIAL REAL ESTATE DEVELOPMENTS AND ACQUISITIONS THROUGHOUT THE UNITED STATES. THE TRUST GENERALLY INVESTS EQUITY IN REAL ESTATE INDIRECTLY THROUGH ONE OR MORE SINGLE PURPOSE ENTITIES, SUCH AS BIT HOLDINGS SEVENTY-TWO, INC. FORM 990, PART VI, SECTION A, LINE 7A REFER TO THE DISCLOSURE BELOW FOR FORM 990, PART VI, LINE 7B. FORM 990, PART VI, SECTION A, LINE 7B GREAT GRAY TRUST COMPANY, LLC, IN ITS CAPACITY AS TRUSTEE OF THE AFL-CIO BUILDING INVESTMENT TRUST, HAS THE POWER TO ELECT AND REMOVE THE DIRECTORS OF THE ORGANIZATION, APPROVE MERGERS AND APPROVE THE DISSOLUTION OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. PRIOR TO FILING, THE FORM 990 IS REVIEWED IN DETAIL BY THE DIRECTOR, FINANCIAL AND REGULATORY REPORTING AND A COPY IS PROVIDED TO THE ENTIRE GOVERNING BODY PRIOR TO ITS FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12: GREAT GRAY TRUST COMPANY, LLC ("GREAT GRAY") HAS WRITTEN AND ORAL INTERNAL POLICIES AND PROCEDURES REGARDING THE ADMINISTRATION AND MANAGEMENT OF THE TRUST, WHICH WOULD ALSO EXTEND TO THEIR PERFORMANCE OF SERVICES TO THE SINGLE PURPOSE ENTITIES, INCLUDING BIT HOLDINGS SEVENTY-TWO, INC. THE WRITTEN POLICIES OF GREAT GRAY INCLUDE, BUT ARE NOT LIMITED TO, POLICIES AND PROCEDURES DESIGNED TO PREVENT, MONITOR AND DISCLOSE ANY APPLICABLE CONFLICTS OF INTEREST, RECORD RETENTION AND DESTRUCTION POLICIES, AND WHISTLEBLOWER POLICIES AND PROCEDURES. ALL POLICIES AND PROCEDURES, INCLUDING THOSE MENTIONED ABOVE, ARE MONITORED BY THE COMPLIANCE DEPARTMENT AND OFFICERS ON A PERIODIC BASIS, AND THE INTERNAL AUDIT DEPARTMENTS OF GREAT GRAY PERIODICALLY TEST POLICIES AND PROCEDURES. ALL EMPLOYEES OF GREAT GRAY, INCLUDING EMPLOYEES WHO SERVE AS THE OFFICERS AND DIRECTORS OF BIT HOLDINGS SEVENTY-TWO, INC., ARE SUBJECT TO THESE POLICIES AND PROCEDURES, AND ARE CHARGED WITH DISCLOSING, AS APPLICABLE, CONFLICTS OF INTEREST. ALL EMPLOYEES OF RREEF AMERICA L.L.C., GREAT GRAY'S APPOINTED SUB-ADVISOR OF THE TRUST, ARE REQUIRED TO AT LEAST ANNUALLY DISCLOSE AND CERTIFY VIA AN ELECTRONIC REPORTING SYSTEM THAT THEY HAVE: RECEIVED, READ AND UNDERSTAND ALL OF THE CONFLICT OF INTEREST AND OTHER RELATED POLICIES OF RREEF AMERICA L.L.C. AND THAT THEY UNDERSTAND AND AGREE TO CONFORM WITH SUCH POLICIES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC. THERE IS NO CONFLICT OF INTEREST POLICY OF FINANCIAL STATEMENTS APPLICABLE TO ONLY THE ORGANIZATION AND THE BROADER POLICIES AND FINANCIAL STATEMENTS ARE NOT AVAILABLE TO THE PUBLIC. SEE FURTHER EXPLANATION REGARDING CONFLICT OF INTEREST POLICY IN THE DISCLOSURE FOR FORM 990, PART VI, SECTION B, LINE 12. FORM 990, PART XI, LINE 9: CONTRIBUTIONS TO PARENT 49,051,533. FORM 990, PART XI, QUESTION 2C, FINANCIAL STATEMENTS AND REPORTING: MANAGEMENT IS RESPONSIBLE FOR THE SELECTION OF THE INDEPENDENT ACCOUNTANTS. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. 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