Overview
What is Cfhc Title Holding Corporation Nfp?
Cfhc Title Holding Corporation Nfp is a nonprofit organization based in Chicago, Illinois. Its primary mission is to hold title to a property and collect income from it, subsequently transferring the entire income, minus expenses, to Chicago Family Health Center, Inc., a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code. This arrangement supports the Chicago Family Health Center's operations. The holding company was established in 2012 as part of a New Market Tax Credit (NMTC) transaction.
Is Cfhc Title Holding Corporation Nfp legitimate?
Cfhc Title Holding Corporation Nfp is a legitimate nonprofit organization registered as a 501(c)(2) entity. Cfhc Title Holding Corporation Nfp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Cfhc Title Holding Corporation Nfp?
The mission of Cfhc Title Holding Corporation Nfp, in essence, revolves around holding title to property and generating income from it. This income, after deducting expenses, is then transferred in its entirety to Chicago Family Health Center, Inc., a non-profit organization exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. This holding company was established specifically for the New Market Tax Credit (NMTC) transaction that occurred during the fiscal year ending June 30, 2012. The primary objective of Cfhc Title Holding Corporation Nfp is to support the Chicago Family Health Center, Inc. by managing its property and related debts.
Who is the CEO of Cfhc Title Holding Corporation Nfp?
Barrett Hatches is the CEO of Cfhc Title Holding Corporation Nfp The CEO's salary of Cfhc Title Holding Corporation Nfp is $0 and their total compensation is $357,617.
What is the revenue of Cfhc Title Holding Corporation Nfp?
Cfhc Title Holding Corporation Nfp's revenue in 2022 was $115,000.
Who are the executives of Cfhc Title Holding Corporation Nfp and what are their salaries?
Here are 4 key members and their salaries (Cfhc Title Holding Corporation Nfp's CEO's salary is $0 and their total compensation is $357,617):
- Compensation: $0
- Related: $345,061
- Other: $12,556
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Cfhc Title Holding Corporation Nfp?
Cfhc Title Holding Corporation Nfp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Cfhc Title Holding Corporation Nfp
Cfhc Title Holding Corporation Nfp serves a crucial role in supporting Chicago Family Health Center (CFHC) by holding title to property and collecting income derived from it. The primary mission of this holding company is to generate income from its property holdings and transfer the entire amount, less expenses, to CFHC, an organization exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. This corporation was established specifically to manage the building and debt related to a New Market Tax Credit (NMTC) transaction that took place during the fiscal year ending June 30, 2012. In essence, Cfhc Title Holding Corporation Nfp acts as a financial intermediary, using its property holdings to generate income for the benefit of CFHC, ultimately contributing to the organization's mission of providing healthcare services to the community.
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Impact
October, 2024
Cfhc Title Holding Corporation Nfp plays a crucial role in supporting the financial infrastructure of the Chicago Family Health Center. By holding title to property and managing income generated from that property, the corporation helps to ensure a stable revenue stream for the health center.
Through this model, the corporation collects income, deducting necessary expenses, and subsequently transfers the remaining amount to the Chicago Family Health Center. This financial support is vital for the center's operations, enabling it to offer essential healthcare services to the community, particularly to underserved populations.
The corporation's activities also align with community improvement objectives, as it contributes to the local economy by facilitating better access to healthcare services. Additionally, the establishment of this entity was directly linked to a New Market Tax Credit (NMTC) transaction, highlighting its strategic importance in funding and maintaining critical healthcare infrastructure in Chicago. Overall, Cfhc Title Holding Corporation Nfp significantly impacts community health and well-being by reinforcing the financial backbone of a key healthcare provider.
This information is meant to be a general summary of Cfhc Title Holding Corporation Nfp. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $115,000
Assets and Liabilities:
- Total Assets: $7,140,801
- Total Liabilities: $10,154,564
- Net Assets: -$3,013,763
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Organization Details
Founding Year
2012
Principal Officer
Sherry Pace
NTEE Category
Code: S47 - Community improvement
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