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Bit Holdings Three INC FY2020 filing

Not tax-deductible

Las Vegas, NVMutual-benefit / member-servingSince 1994 EIN 52-1876490Revenue $57.3M in FY2020

On file with the IRS6725 Via Austi Pkwy Ste 260, 89119-3552 · Las Vegas, NVTax-exempt since Jul 1994

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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.

Mission: Form 990 Part I, line 1

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average deficit $677K a year · 9% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
4 mo
of spending, in cash
Looks good: 3.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$279.3M
22% of total assets
Looks good: liabilities are 22% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$57.3M
Spent
$8.6M
Net assets
$987.4M
By yearFY2020–FY2025
Revenue
$57.3M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$57.3M
FY2021$54.9M
FY2022$40.2M
FY2023$43.3M
FY2024−$175.5M
FY2025$26.5M
Expenses
$8.6M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$8.6M
FY2021$8.5M
FY2022$7.7M
FY2023$5.7M
FY2024$9.1M
FY2025$11.1M
Net assets
$987.4M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$987.4M
FY2021$1.0B
FY2022$791.3M
FY2023$562.6M
FY2024$541.4M
FY2025$562.5M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1994.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
Rinse a Brink
Pres/Asst Secretary/Asst Treas
$0Pt VII · Sec A
Austin Cates
VP/Assistant Secretary
$0Pt VII · Sec A
Clayton Flanagan
VP/Assistant Secretary
$0Pt VII · Sec A
Cynthia Helms
VP/Secretary/Treasurer
$0Pt VII · Sec A
Kenneth Marty JR
VP/Assistant Secretary
$0Pt VII · Sec A
William K Mihm
VP/Assistant Secretary
$0Pt VII · Sec A
Jill J Russel
VP/Assistant Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
See Bit Holdings Three INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Acquires and manages real estate to collect and remit rental income, minus expenses, to the AFL-CIO Building Investment Trust.

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1 program · in their own filed words · FY2020
01

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 the afl-cio building investment trust.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$57.3M
Ln 12
Other incomeLn 4–11$57.3M
Money outPt IX
$8.6M
Ln 25
Owns and owesPt X
$987.4M
net assets · Ln 32
Cash and savingsLn 1–2$2.7M
Total assetsLn 16$1.3B
LiabilitiesLn 26$279.3M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Other incomeLn 4–11$57.3M
Total revenueLn 12$57.3M
Assets in detailPt X, end of year
CashLn 1$2.7M
SavingsLn 2$0
Cash and savings togetherLn 1–2$2.7M
Land, buildings, equipmentLn 10c$1.26B
Other assetsLn 15$0
Total assetsLn 16$1.3B
LiabilitiesLn 26$279.3M
Net assetsLn 32$987.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$5.3M$2.7M
Land, buildings, equipmentLn 10c$1.25B$1.26B
Total assetsLn 16$1.26B$1.27B
LiabilitiesLn 26$294.6M$279.3M
Net assetsLn 32$967.0M$987.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$208K
Accounting feesLn 11c$4K
Other fees for servicesLn 11g$83K
InterestLn 20$8.2M
Depreciation, depletion and amortizationLn 22$19K
Other expenses (24a–d)Ln 24$136K
Total functional expensesLn 25$8.6M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $26.5M$11.1M$15.4M$562.5M 990 PDF
FY2024 −$175.5M$9.1M−$184.6M$541.4M 990 PDF
FY2023 $43.3M$5.7M$37.6M$562.6M 990 PDF
FY2022 $40.2M$7.7M$32.6M$791.3M 990 PDF
FY2021 $54.9M$8.5M$46.4M$1.0B 990 PDF
FY2020 Viewing $57.3M$8.6M$48.6M$987.4M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $57,252,180 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $20,171,343$0
I-11 Other revenuePrior year $64,480,403$57,252,180
I-12 Total revenuePrior year $84,651,746$57,252,180
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $8,845,241$8,622,054
I-18 Total expensesPrior year $8,845,241$8,622,054
I-19 Revenue less expensesPrior year $75,806,505$48,630,126
Part VI · Governance 7 of 7 board members independent, 5 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $57,252,180 across 2 lines filed
VIII-6 Net rental income or lossExcluded from tax $57,252,180$57,252,180
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $57,252,180$57,252,180
Part IX · Statement of functional expenses $8,622,054 across 6 lines filed
IX-11b Legal fees$208,199
IX-11c Accounting fees$4,023
IX-11g Other fees for services$82,545
IX-20 Interest$8,172,305
IX-22 Depreciation, depletion and amortization$19,453
IX-24 Other expenses (24a–d)$135,529
IX-25 Total functional expenses$8,622,054
Part X · Balance sheet $1,266,699,189 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $5,273,478$2,726,874
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $2,020,322$3,012,667
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $875,851$859,648
X-10c Land, buildings and equipment, netStart of year $1,253,300,000$1,260,100,000
X-15 Other assetsStart of year $166,971$0
X-16 Total assetsStart of year $1,261,636,622$1,266,699,189
X-17 Accounts payable and accrued expensesStart of year $31,093,257$19,011,199
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $1,523,222$1,464,630
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $256,000,000$256,000,000
X-25 Other liabilitiesStart of year $6,005,817$2,815,775
X-26 Total liabilitiesStart of year $294,622,296$279,291,604
X-32 Total net assets or fund balancesStart of year $967,014,326$987,407,585
X-33 Total liabilities and net assetsStart of year $1,261,636,622$1,266,699,189
Part XI · Reconciliation of net assets $987,407,585 net assets at year end
XI-1 Total revenue$57,252,180
XI-2 Total expenses$8,622,054
XI-3 Revenue less expenses$48,630,126
XI-4 Net assets at start of year$967,014,326
XI-5 Net unrealized gains (losses) on investments−$28,195,014
XI-9 Other changes in net assets−$41,853
XI-10 Net assets at end of year$987,407,585

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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