42,000 Acre Ranch Sold to Benefit Texas Children Living in Poverty, Neglect and Abuse
The 42,000-acre Hendrick River Ranch in Throckmorton, Haskell and Shackelford counties has been sold to an undisclosed buyer, under terms which are covered by a confidentiality agreement. The ranch has been held in trust for the benefit of Hendrick Home for Children in Abilene for the past 68 years. The home was established in 1939 by Mr. and Mrs. Tom and Ida Hendrick, who then placed the ranch in trust through their 1946 wills.
The decision to sell the ranch was made after lengthy and careful dialogue between the trustee, J. P. Morgan Chase Bank, and the Home’s local Board and President. The ranch proceeds will remain in trust and will generate income to provide for the funding of future operating costs of the Home.
“This sale will be beneficial for Hendrick Home and all the children who depend on our services,” said Hendrick Home Chairman Lee Hamilton. “This transaction allows Hendrick Home to remain financially strong through wise management of our resources.”
David W. Miller, Ph.D., president of Hendrick Home, said “there are approximately 1.4 million children in Texas living in poverty, neglect and abuse – many of whom would be eligible for admission into the Home if space were available. The Home is planning an expansion that could double the number of single mothers and children in the Home’s care. Because the ranch proceeds will remain in trust to generate funding for operational costs, additional fundraising will still be needed to raise the $6.5 million needed for the new Family Care Complex. We believe that our continued financial stability will encourage donors to invest in our strength and proven success in caring for children.”
The Home’s 2020 Vision strategy seeks to re-establish a new rural campus.
“Selling the older Hendrick River Ranch facilities – some of which date back to Camp Barkeley of the World War II era – offers us the opportunity to design replacement facilities that will be both financially efficient and therapeutically effective,” Miller said. “Eventually we hope to re-establish a new rural campus that will provide hunting, fishing, and other healthy outdoor opportunities for the children.”
For more information, please contact David W. Miller, Ph.D., president and CEO, Hendrick Home for Children.