Civic Intelligence

Hispanic IT Executive Council

990 • Fiscal year 2021 • EIN 20-5975604

Jan 01, 2021 to Dec 31, 2021 • Filed on May 12, 2022

444 West Lake StreetChicago, IL 60606

(248) 952-0200

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

29th percentile

0.04x

Higher debt load relative to assets than 29% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

24th percentile

0.03x

Higher debt load relative to revenue than 24% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Net Margin

79th percentile

25%

Higher net margin than 79% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

80th percentile

$240,000

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 11.2% of source-year revenue.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Asset Growth

88th percentile

40%

Faster asset growth than 88% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

46th percentile

7.3%

Faster revenue growth than 46% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$1,961,139

Up $562,851 (+40%) from 2020

Net Assets

Up

$1,889,127

Up $563,234 (+42%) from 2020

Liabilities

Down

$72,012

Down $383 (-0.5%) from 2020

Revenue

Up

$2,139,663

Up $145,163 (+7.3%) from 2020

Expenses

Up

$1,600,296

Up $68,397 (+4.5%) from 2020

Net Income

Up

$539,367

Up $76,766 (+17%) from 2020

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0-$1.0MAssets 2010: $37,346Liabilities 2010: $332Net Assets 2010: $37,0142010Assets 2011: $36,447Liabilities 2011: $10,034Net Assets 2011: $26,4132011Assets 2012: $64,357Liabilities 2012: $25,068Net Assets 2012: $39,2892012Assets 2013: $82,080Liabilities 2013: $30,000Net Assets 2013: $52,0802013Assets 2014: $39,191Liabilities 2014: $90,959Net Assets 2014: -$51,7682014Assets 2015: $140,897Liabilities 2015: $55,336Net Assets 2015: $85,5612015Assets 2016: $329,195Liabilities 2016: $8,917Net Assets 2016: $320,2782016Assets 2017: $846,147Liabilities 2017: $16,925Net Assets 2017: $829,2222017Assets 2018: $1,163,270Liabilities 2018: $112,893Net Assets 2018: $1,050,3772018Assets 2019: $899,261Liabilities 2019: $35,969Net Assets 2019: $863,2922019Assets 2020: $1,398,288Liabilities 2020: $72,395Net Assets 2020: $1,325,8932020Assets 2021: $1,961,139Liabilities 2021: $72,012Net Assets 2021: $1,889,1272021Assets 2022: $2,264,508Liabilities 2022: $616,237Net Assets 2022: $1,648,2712022Assets 2023: $2,741,871Liabilities 2023: $413,479Net Assets 2023: $2,328,3922023Assets 2024: $2,389,291Liabilities 2024: $484,419Net Assets 2024: $1,904,8722024

Highlighted filing

2021

Assets$1,961,139
Liabilities$72,012
Net Assets$1,889,127

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2010: $154,600Expenses 2010: $119,661Net Income 2010: $34,9392010Revenue 2011: $198,224Expenses 2011: $208,825Net Income 2011: -$10,6012011Expenses 2012: $194,6792012Revenue 2013: $398,480Expenses 2013: $385,689Net Income 2013: $12,7912013Revenue 2014: $546,252Expenses 2014: $650,100Net Income 2014: -$103,8482014Revenue 2015: $994,110Expenses 2015: $856,781Net Income 2015: $137,3292015Revenue 2016: $1,356,787Expenses 2016: $1,122,068Net Income 2016: $234,7192016Revenue 2017: $1,243,800Expenses 2017: $912,695Net Income 2017: $331,1052017Revenue 2018: $1,275,730Expenses 2018: $1,063,904Net Income 2018: $211,8262018Revenue 2019: $1,340,037Expenses 2019: $1,524,621Net Income 2019: -$184,5842019Revenue 2020: $1,994,500Expenses 2020: $1,531,899Net Income 2020: $462,6012020Revenue 2021: $2,139,663Expenses 2021: $1,600,296Net Income 2021: $539,3672021Revenue 2022: $1,918,896Expenses 2022: $2,306,502Net Income 2022: -$387,6062022Revenue 2023: $3,346,046Expenses 2023: $2,678,036Net Income 2023: $668,0102023Revenue 2024: $2,344,428Expenses 2024: $2,801,485Net Income 2024: -$457,0572024

Highlighted filing

2021

Revenue$2,139,663
Expenses$1,600,296
Net Income$539,367
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 12, 2022
Return Version
2021v4.1
Gross Receipts
$2,139,663
Mission and Program Overview

Mission

To promote hispanic it leadership in the technology industry. Hitec will provide these current and future leaders with a solid skill set through professional development and networking opportunities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$929,634$1,085,139▲ $155,505
Pledges and Grants Receivable$455,759$723,150▲ $267,391
Investments in Publicly Traded Securities-$125,000-
Other Notes and Loans Receivable, Net$12,895$12,895→ $0
Prepaid Expenses and Deferred Charges$0$11,412▲ $11,412
Land, Buildings, and Equipment, Net$0$3,543▲ $3,543
Total Assets$1,398,288$1,961,139▲ $562,851
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$22,395$72,012▲ $49,617
Deferred Revenue$50,000$0▼ $50,000
Total Liabilities$72,395$72,012▼ $383
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,325,893$1,889,127▲ $563,234
Total Net Assets Fund Balance$1,325,893$1,889,127▲ $563,234
Total Liabilities and Net Assets / Fund Balance$1,398,288$1,961,139▲ $562,851

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,543$3,371-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Omar DuquePresidentFT$240,000$240,000
Omar Duque--$240,000$240,000

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,756,509
Program Service Revenue
$382,761
Investment Income
$0
Other Revenue
$393
All Other Contributions
$24,342
Change in Net Assets
$539,367
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,360,279
Total Fundraising Expense$558,577
Professional Fundraising Fees$240,017
Grants and Similar Amounts Paid$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Professional Fundraising--$240,017$240,017
Conferences and Meetings$147,521$10$23,211$170,742
Fees for Services Other$123,368$8$19,411$142,787
Advertising$113,125$8,089$285$121,499
Information Technology$0$22,403$73,536$95,939
Fees for Services Accounting$0$64,625$0$64,625
Travel$4,771$9,603$2,295$16,669
Office Expenses$4,844$6,121$1,005$11,970
Fees for Services Legal$1,259$6,441$0$7,700
Insurance$0$5,341$0$5,341
Other Expenses$347$4,745$237$5,329
Occupancy$0$3,856$0$3,856
All Other Expenses$228$3,117$156$3,501
Total Functional Expenses$582,284$459,435$558,577$1,600,296
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$240,017
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Hispanic It Executive Council
EIN
20-5975604
Phone
2489520200
Address
444 WEST LAKE STREET, CHICAGO, IL 60606

Signing Officer

Name
Omar Duque
Title
President
Phone
2489520200
Signed
2022-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Omar Duque
Formed
2006
Legal Domicile
Il
Voting Board Members
16
Independent Board Members
15
Employees
5
Volunteers
0

Preparer

Firm
Lopez and Company Cpas Ltd
Address
2702 W CHICAGO AVE, CHICAGO, IL 60622
Preparer
Enrique Lopez
Phone
7736348335
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

Governing documents disclosure explanation: available upon request

Pt VI, Line 19

Form 990 is reviewed by the president and board of directors

Pt VI, Line 6

Classes of members or stockholders: organized with members

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0GOVERNING DOCUMENTS DISCLOSURE EXPLANATION: AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY THE PRESIDENT AND BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CLASSES OF MEMBERS OR STOCKHOLDERS: ORGANIZED WITH MEMBERS
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.39$0.48$1.90$2.34$2.80$0.46
2023Detailed filing. Detailed filing data is available for this year.$2.74$0.41$2.33$3.35$2.68$0.67
2022Detailed filing. Detailed filing data is available for this year.$2.26$0.62$1.65$1.92$2.31$0.39
2021Detailed filing. Detailed filing data is available for this year.$1.96$0.07$1.89$2.14$1.60$0.54
2020Detailed filing. Detailed filing data is available for this year.$1.40$0.07$1.33$1.99$1.53$0.46
2019Detailed filing. Detailed filing data is available for this year.$0.90$0.04$0.86$1.34$1.52$0.18
2018Detailed filing. Detailed filing data is available for this year.$1.16$0.11$1.05$1.28$1.06$0.21
2017Detailed filing. Detailed filing data is available for this year.$0.85$0.02$0.83$1.24$0.91$0.33
2016Detailed filing. Detailed filing data is available for this year.$0.33$0.01$0.32$1.36$1.12$0.23
2015Detailed filing. Detailed filing data is available for this year.$0.14$0.06$0.09$0.99$0.86$0.14
2014Detailed filing. Detailed filing data is available for this year.$0.04$0.09$0.05$0.55$0.65$0.10
2013Detailed filing. Detailed filing data is available for this year.$0.08$0.03$0.05$0.40$0.39$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.06$0.03$0.04$0.19
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.04$0.01$0.03$0.20$0.21$0.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.04$0.00$0.04$0.15$0.12$0.03