Civic Intelligence

Hitec Foundation

990 • Fiscal year 2019 • EIN 27-2869162

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 10, 2020

Organization ProfileHITECGLOBAL.ORG/MPAGE/FOUNDATION
444 W 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

81st percentile

0.13x

Higher debt load relative to assets than 81% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

85th percentile

0.13x

Higher debt load relative to revenue than 85% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

94th percentile

60%

Higher net margin than 94% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

91st percentile

106%

Faster asset growth than 91% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

95th percentile

140%

Faster revenue growth than 95% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$457,312

Up $235,308 (+106%) from 2018

Net Assets

Up

$397,412

Up $268,636 (+209%) from 2018

Liabilities

Down

$59,900

Down $33,328 (-36%) from 2018

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin94th percentile

Revenue

Up

$447,453

Up $260,866 (+140%) from 2018

Expenses

Down

$178,817

Down $42,852 (-19%) from 2018

Net Income

Up

$268,636

Up $303,718 (+866%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

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

$800K$600K$400K$200K$0Assets 2017: $224,988Liabilities 2017: $61,129Net Assets 2017: $163,8592017Assets 2018: $222,004Liabilities 2018: $93,228Net Assets 2018: $128,7762018Assets 2019: $457,312Liabilities 2019: $59,900Net Assets 2019: $397,4122019Assets 2020: $353,098Liabilities 2020: $12,489Net Assets 2020: $340,6092020Assets 2021: $340,258Liabilities 2021: $4,862Net Assets 2021: $335,3962021Assets 2022: $524,290Liabilities 2022: $5,800Net Assets 2022: $518,4902022Assets 2023: $630,358Liabilities 2023: $32,172Net Assets 2023: $598,1862023Assets 2024: $763,874Liabilities 2024: $4,274Net Assets 2024: $759,6002024

Highlighted filing

2019

Assets$457,312
Liabilities$59,900
Net Assets$397,412
Open 2019 Filing

Operations Trend

Revenue Growth95th percentile

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

$600K$400K$200K$0-$200KRevenue 2017: $94,561Expenses 2017: $160,849Net Income 2017: -$66,2882017Revenue 2018: $186,587Expenses 2018: $221,669Net Income 2018: -$35,0822018Revenue 2019: $447,453Expenses 2019: $178,817Net Income 2019: $268,6362019Revenue 2020: $205,702Expenses 2020: $262,505Net Income 2020: -$56,8032020Revenue 2021: $204,876Expenses 2021: $210,089Net Income 2021: -$5,2132021Revenue 2022: $380,362Expenses 2022: $197,268Net Income 2022: $183,0942022Revenue 2023: $354,898Expenses 2023: $275,202Net Income 2023: $79,6962023Revenue 2024: $442,821Expenses 2024: $281,407Net Income 2024: $161,4142024

Highlighted filing

2019

Revenue$447,453
Expenses$178,817
Net Income$268,636
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 10, 2020
Return Version
2019v5.1
Gross Receipts
$447,453
Mission and Program Overview

Mission

To inspire and build a sustainable pipeline for future latinx leaders in technology.the hitec foundation will provide these current and future latinx leaders with technical leadership though scholarships, internships, and mentoring programs.

The hitec foundation's scholarship, internship, and mentoring programs were created to inspire and build a sustainable pipeline for future latinx leaders in technology.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$199,618$436,293▲ $236,675
Accounts Receivable$20,900$20,900→ $0
Land, Buildings, and Equipment, Net$237$119▼ $118
Total Assets$222,004$457,312▲ $235,308
Other Assets Total$1,249--
Liabilities
Other Liabilities$82,868$55,879▼ $26,989
Accounts Payable and Accrued Expenses$10,360$4,021▼ $6,339
Total Liabilities$93,228$59,900▼ $33,328
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$128,776$397,412▲ $268,636
Total Net Assets Fund Balance$128,776$397,412▲ $268,636
Total Liabilities and Net Assets / Fund Balance$222,004$457,312▲ $235,308

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$119$1,130$1,249
Land$0--
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Ramon BaezChairman
Carlos AmesquitaDirector
Gloria Candelario HossriDirector
Jesse CortezDirector
Patricia RiosDirector
Ricardo BartraDirector
Ivonne ValdesSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$442,068
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$5,385
All Other Contributions
$21,859
Change in Net Assets
$268,636
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$178,817
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$155,000$0$0$155,000
Fees for Services Legal$5,304$1,326$0$6,630
Conferences and Meetings$5,290$0$0$5,290
Advertising$5,000$0$0$5,000
Fees for Services Accounting$1,225$306$0$1,531
Office Expenses$1,073$269$0$1,342
Depreciation Depletion$95$24$0$119
Total Functional Expenses$176,111$2,706$0$178,817
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Loan Payable - Hispanic It$40,005
Due to$15,874
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Hitec Foundation
EIN
27-2869162
Phone
2489520200
Address
444 W LAKE STREET, CHICAGO, IL 60606

Signing Officer

Name
Omar Duque
Title
President
Phone
2489520200
Signed
2020-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Omar Duque
Formed
2010
Legal Domicile
Il
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Lopez & Co Cpas Ltd
Address
2702 W CHICAGO AVE, CHICAGO, IL 60622-8510
Preparer
Enrique Lopez
Phone
7736348335
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The organization requires the governing body be provided a copy of form 990 before it is filed.”

Raw XML AppendixShowing 400 of 402 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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ReturnHeader/BuildTS02021-01-29 14:40:06Z
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ReturnHeader/FilingSecurityInformation/IPTm018:08:31
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ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$457,312
Liabilities
$59,900
Net assets
$397,412
Revenue
$447,453
Expenses
$178,817
Net income
$268,636
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.64$0.04$7.60$4.43$2.81$1.61
2023Detailed filing. Detailed filing data is available for this year.$6.30$0.32$5.98$3.55$2.75$0.80
2022Detailed filing. Detailed filing data is available for this year.$5.24$0.06$5.18$3.80$1.97$1.83
2021Detailed filing. Detailed filing data is available for this year.$3.40$0.05$3.35$2.05$2.10$0.05
2020Detailed filing. Detailed filing data is available for this year.$3.53$0.12$3.41$2.06$2.63$0.57
2019Detailed filing. Detailed filing data is available for this year.$4.57$0.60$3.97$4.47$1.79$2.69
2018Detailed filing. Detailed filing data is available for this year.$2.22$0.93$1.29$1.87$2.22$0.35
2017Detailed filing. Detailed filing data is available for this year.$2.25$0.61$1.64$0.95$1.61$0.66