Bnsic Title Holding Corporation
- Assets
- $645.1k
- Revenue
- -$43.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Washigton, DC
- Founding
- 08/2018
- Data as of
- 06/2021
- EIN
- 82-3250919
Organization Overview
Bnsic Title Holding Corporation is located in Washigton, DC. The organization was established in 2018. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bnsic Title Holding Corporation is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO HOLD PROPERTY DONATED TO THE BASILICA OF THE NATIONAL SHRINE OF THE IMMACULATE CONCEPTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
13 RENTAL PROPERTIES WERE DONATED TO BNISC 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 TRANSFERRED 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 BE SOLD AS SOON AS PRACTICAL, THE SOLE ACTIVITY OF THE BNSIC TITLE HOLDING COMPANY IS TO HOLD THESE PROPERTIES UNTIL THEY ARE SOLD. DURING THE FISCAL YEAR ENDING JUNE 30, 2021 ONE (1) OF THESE PROPERTIES WAS SOLD. AS OF JUNE 30, 2021 ONLY ONE (1) PROPERTY REMAINS UNSOLD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel P Macgregor Secratary/treasurer | OfficerTrustee | 4 | $5,387 |
Rev Monsignor Walter R Rossi President | OfficerTrustee | 2 | $3,008 |
Rev Monsignor Vito A Buonamo Vice President | OfficerTrustee | 0.5 | $516 |
Father Michael J Weston Vice President | OfficerTrustee | 5 | $516 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,718 |
| Net Gain/Loss on Asset Sales | -$64,097 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$43,379 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $14,416 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,650 |
| Pension plan accruals and contributions | $676 |
| Other employee benefits | $843 |
| Payroll taxes | $1,332 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,911 |
| Fees for services: Accounting | $2,783 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,875 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,473 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | -$2,738 |
| Insurance | $0 |
| All other expenses | $780,545 |
| Total functional expenses | $844,766 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,998 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $39,740 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $376 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $580,000 |
| Total assets | $645,114 |
| Accounts payable and accrued expenses | $800 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $708,402 |
| Total liabilities | $709,202 |
| Net assets without donor restrictions | -$64,088 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $645,114 |
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