Hatcher At Scyene Title Holding Company is located in Dallas, TX. The organization was established in 2015. 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. Hatcher At Scyene Title Holding Company is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 12/2021, Hatcher At Scyene Title Holding Company generated $12.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 40.2% each year . All expenses for the organization totaled $12.9m during the year ending 12/2021. While expenses have increased by 48.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
HOLDING PROPERTY, LEASING PROPERTY, COLLECTING INCOME, AND TURNING OVER THE ENTIRE AMOUNT LESS EXPENSES TO FRAZIER REVITALIZATION, INC. (FRI), A NOT FOR PROFIT ORGANIZATION WHOSE MISSION IS THE REVITALIZATION OF A LOW INCOME NEIGHBORHOOD IN DALLAS, TX.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WAS FORMED IN AUGUST 2014, AND ENTERED INTO A PRIMARY LEASE WITH FRAZIER REVITALIZATION, INC., WHICH IN TURN ENTERED INTO A SUB-LEASE WITH DALLAS COUNTY HOSPITAL DISTRICT, DOING BUSINESS AS PARKLAND HEALTH & HOSPITAL SYSTEM (PARKLAND HEALTH) FOR 25 YEARS. IN AUGUST 2014, THE DALLAS DEVELOPMENT FUND (DDF) AWARDED A $15,000,000 NEW MARKETS TAX CREDIT (NMTC) ALLOCATION TO FRAZIER REVITALIZATION, INC. FOR THE CONSTRUCTION OF 44,378 SQUARE FOOT MEDICAL FACILITY IN THE FRAZIER AREA OF DALLAS, TEXAS. THE TRANSACTION CLOSED IN AUGUST 2014, WITH THE DDF AND JPMORGAN CHASE, N.A. (CHASE). AS THE NMTC EQUITY INVESTOR, CHASE PROVIDED APPROXIMATELY $4.89 MILLION IN NMTC EQUITY. CHASE PROVIDED A $11.7MM TERM LOAN (SENIOR LOAN) TO FRAZIER REVITALIZATION, INC., PART OF WHICH WAS USED TO FUND A $10.45 MILLION "LEVERAGE LOAN" FROM FRAZIER REVITALIZATION TO CHASE INVESTMENT FUND (CIF), A SPECIAL PURPOSE INVESTMENT FUND ENTITY. CHASE IS RESPONSIBLE FOR THE MANAGEMENT OF CIF. THE NMTC EQUITY AND LEVERAGE LOAN WAS COMBINED TO CAPITALIZE THE CIF, WHICH IN TURN MADE A QUALIFIED EQUITY INVESTMENT (QEI) OF $15 MILLION INTO A SUBSIDIARY OF DDF (SUB-CDE). DDF, THROUGH THE AFOREMENTIONED SUB-CDE, MADE TWO QUALIFIED LOW INCOME COMMUNITY INVESTMENT (QLICI) LOANS TO THE ORGANIZATION. THE IS A QUALIFIED ACTIVE LOW INCOME COMMUNITY BUSINESS (QALIC B). CONSTRUCTION OF THE FACILITY WAS COMPLETED IN APRIL 2015 AND OPENED IN MAY 2015.IN AUGUST 2021, IN ACCORDANCE WITH NMTC REGULATIONS, THE COMPLIANCE PERIOD FOR THE INVESTMENT MADE BY THE SUB-CDE TO THE ORGANIZATION ENDED. THE NMTC TRANSACTIONS WERE TERMINATED, AND INTERESTS WERE REALIGNED AS FOLLOWS: CIF TRANSFERRED 100% OF ITS MEMBER INTEREST TO CHASE NMTC HATCHER STATION INVESTMENT FUND, LLC, OWNED BY FRAZIER REVITALIZATION, INC.; DDF ASSIGNED THE QLICI LOANS TO CHASE MNTC HATCHER STATION INVESTMENT FUND, LLC IN CONSIDERATION OF ITS MEMBER INTEREST IN DDF; BEING THE ONLY OWNER, FRAZIER REVITALIZATION, INC. DISSOLVED THE CHASE NMTC HATCHER STATION INVESTMENT FUND, LLC.IN ACCORDANCE WITH A PROVISION IN THE SUB-LEASE BETWEEN PARKLAND HEALTH AND FRAZIER REVITALIZATION, THE TENANT, PARKLAND HEALTH, EXERCISED THEIR RIGHT TO PURCHASE THE FACILITY AFTER THE END OF THE SEVEN YEAR NMTC TAX COMPLIANCE PERIOD. IN OCTOBER 2021, THE ORGANIZATION SOLD THE MEDICAL FACILITY TO PARKLAND HEALTH FOR $22.8 MILLION, TERMINATED THE SUB-LEASE, AND FRAZIER REVITALIZATION, INC. TERMINATED THE PRIMARY LEASE WITH THE ORGANIZATION; THE ORGANIZATION REPAID QLICI LOAN A TO THE FRAZIER REVITALIZATION, INC.; FRAZIER REVITALIZATION, INC. FORGAVE QLICI LOAN B, AND REPAID THE CHASE SENIOR LOAN. THE TRANSACTION RESULTED IN A GAIN OF APPROXIMATELY $8.2 MILLION.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jmcdonald Williams Secretary | OfficerTrustee | 1 | $0 |
Benjamin Glispie President | OfficerTrustee | 1 | $0 |
John Castle Jr | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Hill & Wilkinson General Contractor | 12/30/15 | $6,508,924 |
Alpha Testing Civil Engineer & Environment | 12/30/15 | $219,067 |
Pritchard Associates Constr. Management | 12/30/15 | $171,156 |
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 | $140,000 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $140,000 |
Total Program Service Revenue | $90,000 |
Investment income | $4 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $8,252,696 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $12,767,450 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $12,305,891 |
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. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $11,571 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $178 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $150,801 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $336,638 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $12,946,901 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $71,672 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
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 | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $71,672 |
Accounts payable and accrued expenses | $0 |
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 | $0 |
Total liabilities | $0 |
Net assets without donor restrictions | $0 |
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 | $71,672 |
Total liabilities and net assets/fund balances | $71,672 |
Over the last fiscal year, we have identified 1 grants that Hatcher At Scyene Title Holding Company has recieved totaling $140,000.
Awarding Organization | Amount |
---|---|
Frazier Revitalization Inc Dallas, TX PURPOSE: Contributions to QALIC B | $140,000 |
Organization Name | Assets | Revenue |
---|---|---|
Hatcher At Scyene Title Holding Company Dallas, TX | $71,672 | $12,767,450 |
Ebr Medical Facilities Inc New Orleans, LA | $60,955,683 | $6,389,401 |
L&b Depp Inc Dallas, TX | $29,133,648 | -$258,980 |
Austin Board Of Realtors Austin, TX | $23,987,418 | $7,307,676 |
Ocf Medical Facilities Inc New Orleans, LA | $46,999,065 | $6,205,815 |
Herzstein Investments Inc Houston, TX | $72,075,670 | $3,886,647 |
Metrotex Association Of Realtors Inc Grapevine, TX | $35,512,350 | $5,907,473 |
Erf Real Estate Inc Corpus Christi, TX | $22,832,259 | $2,950,067 |
Rosedale Office Building Inc Fort Worth, TX | $32,377,565 | $10,485,667 |
Tac East Holdings Company No 1 New Boston, TX | $4,113,003 | $2,099,056 |
Jtvp Corporation Houston, TX | $44,960,322 | $2,264,005 |
Nochi Real Estate Inc New Orleans, LA | $19,922,264 | $1,302,004 |