2024-05-31T02:24:00-05:00 2023-12-31 943108253 NOVOGRADAC & COMPANY LLP PO BOX 7833 SAN FRANCISCO CA 941207833 990 2023-01-01 823344288 THE HATCHERY TITLE HOLDING CORPORATION NFP HATC 3122758450 135 N KEDZIE AVE CHICAGO IL 60612 BRAD MCCONNELL SECRETARY 3122758450 2024-05-30 1 BRAD MCCONNELL 999009999 1 ROY CHOU P01648850 4153568000 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z BRAD MCCONNELL 135 N KEDZIE AVE CHICAGO IL 60612 277408 0 X N/A X 2017 IL 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. 7 7 0 0 0 0 0 0 277349 277349 96 59 0 0 277445 277408 0 0 0 0 0 0 0 0 0 1191435 1191244 1191435 1191244 -913990 -913836 27266553 26352717 29583227 29583227 -2316674 -3230510 X THE ORGANIZATION WAS ORGANIZED FOR THE FOLLOWING CHARITABLE ACTIVITIES (A) TO ACQUIRE AND HOLD TITLE TO CERTAIN REAL PROPERTY LOCATED AT 135 N. KENZIE, 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. 0 0 1072826 277408 THE ORGANIZATION LEASES COMMERCIAL SPACES TO THE HATCHERY MASTER TENANT LLC, CONSISTENT WITH THE CHARITABLE PURPOSE OF THE ORGANIZATION. 1072826 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 1 0 0 0 0 0 0 X MARION MOORE (AC4B) 3129242161 135 N KEDZIE AVE CHICAGO IL 60612 X JOEL BOOKMAN BOARD MEMBER 0.50 X 0 0 0 LINDA DARRAGH BOARD MEMBER 0.50 X 0 0 0 STEVE DEBRETTO CHAIR 5.00 X 0 0 0 BRAD MCCONNELL SECRETARY 5.00 X 0 0 0 MARION MOORE BOARD MEMBER 5.00 X 0 0 0 JOHN RAMIREZ BOARD MEMBER 0.50 X 0 0 0 PRISCILLA TORRECE BOARD MEMBER 0.50 X 0 0 0 0 0 0 0 0 0 0 0 RENTAL INCOME 531120 277349 277349 277349 59 59 277408 277408 0 0 12500 12500 105918 105918 278751 278751 794075 794075 1191244 1072826 118418 0 512741 323639 28949440 3736039 25980543 25213401 692129 665196 81140 150481 27266553 26352717 29560000 29560000 23227 23227 29583227 29583227 X 0 0 0 0 -2316674 -3230510 -2316674 -3230510 27266553 26352717 -913836 0 X X 0 1 X 1 0 X X 2 ALLIES FOR COMMUNITY BUSINESS (FKA ACCIONCHICAGO INC) 363966573 7 1 0 0 INDUSTRIAL COUNCIL OF NEARWEST CHICAGO (FKA KIDC) 363312341 7 1 0 0 2 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1390369 1390369 24432484 2987294 21445190 3126587 748745 2377842 25213401 INTEREST PAYABLE 23227 23227 X 1041767 764359 764359 277408 0 277408 1201608 0 1201608 -10364 -10364 1191244 PART X, LINE 2: THE PREPARATION OF FINANCIAL STATEMENTS IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES THE ORGANIZATION TO REPORT INFORMATION REGARDING ITS EXPOSURE TO VARIOUS TAX POSITIONS TAKEN BY THE ORGANIZATION. MANAGEMENT HAS DETERMINED WHETHER ANY TAX POSITIONS HAVE MET THE RECOGNITION THRESHOLD AND HAS MEASURED THE ORGANIZATION'S EXPOSURE TO THOSE TAX POSITIONS. MANAGEMENT BELIEVES THAT THE ORGANIZATION HAS ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THAT THERE ARE NO UNRECORDED TAX LIABILITIES. FEDERAL TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE AND AUDIT THE PREVIOUS THREE YEARS OF TAX RETURNS FILED. NO INTEREST OR PENALTIES FROM FEDERAL OR STATE TAX AUTHORITIES WERE RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: MASTER LEASE - GAAP 764,359. PART XII, LINE 4B - OTHER ADJUSTMENTS: AMORTIZATION 5,297. DEPRECIATION -15,661. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE ORGANIZATION ARE ALLIES FOR COMMUNITY BUSINESS AND INDUSTRIAL COUNCIL OF NEARWEST CHICAGO. FORM 990, PART VI, SECTION A, LINE 7A THE INITIAL BOARD MEMBERS WERE APPOINTED BY ALLIES FOR COMMUNITY BUSINESS AND INDUSTRIAL COUNCIL OF NEARWEST CHICAGO IN 2018 AND 2019 AND WILL SERVE STAGGERED TERMS. THEREAFTER, ALL BOARD MEMBERS WILL BE ELECTED BY A MAJORITY VOTE OF THE EXISTING BOARD AND WILL SERVE A TERM OF TWO YEARS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 PROVIDED TO GOVERNING BODY FOR REVIEW, COMMENTS, AND CHANGES/EDITS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S DOCUMENTS ARE AVAILABLE TO THE PUBLIC. THESE DOCUMENTS ARE FILED WITH THE ORGANIZATION'S RECORDS, SIMILAR TO MEETING MINUTES AND RESOLUTIONS. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. ALLIES FOR COMMUNITY BUSINESS (FKA ACCIONCHICAGO INC) 135 N KEDZIE AVE CHICAGO IL 60612 363966573 PROVIDE CREDIT & SERVICES TO SMALL BUS. W/O ACCESS TO TRADITIONAL FINANCING IL 501(C)(3) LINE 12A, I N/A 0 INDUSTRIAL COUNCIL OF NEARWEST CHICAGO (FKA KIDC) 320 N DAMEN AVE CHICAGO IL 60612 363312341 STRENGTHEN COMPANIES IN THE KINZIE INDUS. CORRIDOR & PROVIDE SERVICES/SPACES IL 501(C)(3) LINE 12A, I N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0