The Hatchery Title Holding Corporation Nfp
- Assets
- $28.2m
- Revenue
- $402.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 01/2018
- Data as of
- 12/2021
- EIN
- 82-3344288
Organization Overview
The Hatchery Title Holding Corporation Nfp is located in Chicago, IL. 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.
For the year ending 12/2021, Hatchery Title Holding Corporation Nfp generated $402.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (22.4%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. 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
THE ORGANIZATION WAS ORGANIZED FOR THE FOLLOWING CHARITABLE ACTIVITIES (A) TO ACQUIRE AND HOLD TITLE TO CERTAIN REAL PROPERTY LOCATED AT 135 N. KEDZIE, CHICAGO, ILLINOIS 60612 (THE "PROPERTY"); (B) TO BORROWER FUNDS AND IMPROVE THE PROPERTY; (C) TO LEASE THE PROPERTY TO THE HATCHERY MASTER TENANT LLC (THE "MASTER TENANT") AND THE MASTER TENANT WILL IN TURN SUBLEASE THE PROPERTY TO (I) INDUSTRIAL COUNCIL OF NEARWEST CHICAGO AND (II) ALLIES FOR COMMUNITY BUSINESS; (D) TO COLLECT INCOME FROM THE MASTER TENANT FOR THE PROPERTY; (E) TO PAY CERTAIN EXPENSES FOR THE PROPERTY INCLUDING DEBT SERVICE AND APPROPRIATE RESERVES; AND (F) TO REMIT THE ENTIRE AMOUNT OF SUCH INCOME IN ANNUAL DISTRIBUTIONS, LESS SUCH EXPENSES, TO ITS MEMBERS, WHICH SHALL ALL BE ILLINOIS NONPROFIT PUBLIC BENEFIT CORPORATIONS RECOGNIZED AS TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE CODE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION LEASES COMMERCIAL SPACES TO THE HATCHERY MASTER TENANT LLC, CONSISTENT WITH THE CHARITABLE PURPOSE OF THE ORGANIZATION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Mcconnell Secretary | Trustee | 5 | $0 |
Marion Moore Board Member | Trustee | 5 | $0 |
Linda Darragh Board Member | Trustee | 0.5 | $0 |
Steve Debretto Chair | Trustee | 5 | $0 |
Priscilla Torrece Board Member | Trustee | 0.5 | $0 |
Joel Bookman Board Member | Trustee | 0.5 | $0 |
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 | $277,349 |
| Investment income | $148 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $402,497 |
| 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. | $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 | $10,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $106,462 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $278,751 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $794,075 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,189,788 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $632,661 |
| 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 | $26,747,685 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $719,062 |
| Other assets | $81,135 |
| Total assets | $28,180,543 |
| 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 | $29,560,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $23,227 |
| Total liabilities | $29,583,227 |
| 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 | -$1,402,684 |
| Total liabilities and net assets/fund balances | $28,180,543 |
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