Overview
What is Hatcher At Scyene Title Holding Company?
Hatcher At Scyene Title Holding Company is a nonprofit entity established in 2014, primarily focused on holding and leasing property in Dallas, Texas. The company's mission aligns with the revitalization of a low-income neighborhood in Dallas, as it manages a medical facility constructed using New Markets Tax Credits. The organization's main task involves collecting income from renting out this facility, which is then passed on to Frazier Revitalization, Inc., a nonprofit organization dedicated to neighborhood improvement. The company's operations resulted in the eventual sale of the medical facility to Parkland Health in 2021, concluding its role as a title holder and lease manager.
Is Hatcher At Scyene Title Holding Company legitimate?
Hatcher At Scyene Title Holding Company is a legitimate nonprofit organization registered as a 501(c)(2) entity. Hatcher At Scyene Title Holding Company 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 Hatcher At Scyene Title Holding Company?
Hatcher At Scyene Title Holding Company serves as a platform to support the revitalization of a low-income neighborhood. Its primary activity involves leasing property and collecting income, with the majority of the revenues being channeled to Frazier Revitalization, Inc., an organization dedicated to neighborhood revitalization. The company operates as a Qualified Active Low-Income Community Business (QALIC B) for New Markets Tax Credit purposes, primarily focusing on constructing and holding title to a medical center facility. The primary objective is to contribute to the revitalization efforts, providing a space for healthcare services in the designated area. The company's involvement in this project aids in the overall improvement of the community.
Who is the CEO of Hatcher At Scyene Title Holding Company?
Dorothy Hopkins is the Secretary of Hatcher At Scyene Title Holding Company.
What is the revenue of Hatcher At Scyene Title Holding Company?
Hatcher At Scyene Title Holding Company's revenue in 2022 was $0.
Who are the executives of Hatcher At Scyene Title Holding Company and what are their salaries?
Here are 3 key members and their salaries:
- 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 Hatcher At Scyene Title Holding Company?
Hatcher At Scyene Title Holding Company's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hatcher At Scyene Title Holding Company
The Hatcher at Scyene Title Holding Company's mission, in essence, is to serve as a facilitator for the revitalization of a low-income neighborhood. This is achieved through the leasing of property, the collection of income, and the subsequent transfer of the remaining funds to Frazier Revitalization, Inc., a not-for-profit organization dedicated to the same cause. The company operates as a Qualified Active Low-Income Community Business (QALIC B) for New Markets Tax Credit purposes, with the primary objective of constructing and maintaining a medical facility in a specific area.
The organization entered into a lease agreement with Frazier Revitalization, Inc., which then sub-leased the facility to Parkland Health & Hospital System (Parkland Health) for a period of 25 years. In 2014, the Dallas Development Fund (DDF) granted a New Markets Tax Credit (NMTC) allocation of $15 million to Frazier Revitalization, Inc. for the construction of the medical facility. This investment was crucial in funding the project, which was completed in 2015 and opened for operations the following year.
Post-compliance period in 2021, the medical facility was sold to Parkland Health for $22.8 million, marking the end of the lease agreements. The organization repaid the Qualified Low Income Community Investment (QLICI) loan and the Chase Senior Loan, while Frazier Revitalization, Inc. forgave the second QLICI loan. The transactions resulted in a significant gain for the organization. In summary, Hatcher at Scyene Title Holding Company's mission is to contribute to the revitalization of a low-income neighborhood by leasing a medical facility to a nonprofit organization, facilitating the construction and maintenance of the facility, and ultimately selling it to a healthcare provider after the compliance period.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Hatcher At Scyene Title Holding Company has significantly impacted the community in the Frazier area of Dallas, Texas. Its primary function is to hold and manage the property of a medical facility, contributing to the revitalization efforts in a low-income neighborhood. By leasing this property to Frazier Revitalization, Inc., which then sub-leases it to a major health provider, Parkland Health, Hatcher At Scyene plays a crucial role in ensuring access to healthcare services for residents in the area.
The organization's establishment in August 2014 marked the beginning of this impactful collaboration. Through the strategic use of a $15 million New Markets Tax Credit allocation from the Dallas Development Fund alongside private financing from JPMorgan Chase, Hatcher At Scyene facilitated the construction of a modern medical facility. Completed in 2015, this facility has become a vital healthcare resource for the local population.
The financial structure behind the organization allowed for long-term sustainability. After the compliance period for the New Markets Tax Credit ended in 2021, the medical facility was sold to Parkland Health for $22.8 million, resulting in a substantial gain that strengthened the financial position of Frazier Revitalization, Inc. This transaction not only contributed to the overall economic uplift of the community but also ensured that healthcare services continue to be available in a neighborhood that previously lacked such resources.
In summary, Hatcher At Scyene Title Holding Company's operations have led to the improved availability of healthcare services, economic revitalization, and enhanced community well-being in the Frazier area of Dallas.
This information is meant to be a general summary of Hatcher At Scyene Title Holding Company. 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.
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
2014
Phone
(469) 221-0704Principal Officer
Dorothy Hopkins
Main Address
PO Box 152926, Dallas, TX, 75315
NTEE Category
Code: S47 - Community improvement
If you are a representative of Hatcher At Scyene Title Holding Company and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.