Civic Intelligence

Hitec Foundation

990 • Fiscal year 2020 • EIN 27-2869162

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 09, 2021

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

68th percentile

0.04x

Higher debt load relative to assets than 68% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

72nd percentile

0.06x

Higher debt load relative to revenue than 72% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

18th percentile

-28%

Higher net margin than 18% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

18th percentile

-23%

Faster asset growth than 18% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

20th percentile

-54%

Faster revenue growth than 20% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets68th percentile

Assets

Down

$353,098

Down $104,214 (-23%) from 2019

Net Assets

Down

$340,609

Down $56,803 (-14%) from 2019

Liabilities

Down

$12,489

Down $47,411 (-79%) from 2019

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin18th percentile

Revenue

Down

$205,702

Down $241,751 (-54%) from 2019

Expenses

Up

$262,505

Up $83,688 (+47%) from 2019

Net Income

Down

-$56,803

Down $325,439 (-121%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth18th 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

2020

Assets$353,098
Liabilities$12,489
Net Assets$340,609
Open 2020 Filing

Operations Trend

Revenue Growth20th 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

2020

Revenue$205,702
Expenses$262,505
Net Income-$56,803
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 9, 2021
Return Version
2020v4.1
Gross Receipts
$205,702
Mission and Program Overview

Mission

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$436,293$353,098▼ $83,195
Accounts Receivable$20,900$0▼ $20,900
Land, Buildings, and Equipment, Net$119$0▼ $119
Total Assets$457,312$353,098▼ $104,214
Liabilities
Accounts Payable and Accrued Expenses$4,021$9,594▲ $5,573
Other Liabilities$55,879$2,895▼ $52,984
Total Liabilities$59,900$12,489▼ $47,411
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$397,412$340,609▼ $56,803
Total Net Assets Fund Balance$397,412$340,609▼ $56,803
Total Liabilities and Net Assets / Fund Balance$457,312$353,098▼ $104,214

Asset Categories

AssetBook ValueDepreciationBasis
Land$0--
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Ramon BaezChairman
Carlos AmesquitaDirector
Dena JonesDirector
Ernest CordovaDirector
Gloria Candelario HossriDirector
Jesse CortezDirector
Julissa JuddDirector
Maria CastagnolaDirector
Patricia RiosDirector
Shaun BoyleDirector
Ivonne ValdesSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$205,702
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-56,803

Audited Revenue Reconciliation

Revenue per Audited Statements
$205,702
Total Revenue per Audited Statements
$205,702
Total Revenue per Form 990
$205,702
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$262,505
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$177,500$0$0$177,500
Fees for Services Management$16,098$8,957$0$25,055
Advertising$0$19,500$0$19,500
Office Expenses$0$2,895$0$2,895
Fees for Services Accounting$0$1,768$0$1,768
Depreciation Depletion$0$119$0$119
Total Functional Expenses$193,598$68,907$0$262,505

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$262,505
Total Expenses per Audited Statements$262,505
Total Expenses per Form 990$262,505
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
Due to$2,895
Loan Payable - Hispanic It$0
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
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
2021-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Omar Duque
Formed
2010
Legal Domicile
Il
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
0

Preparer

Firm
Lopez & Co Cpas Ltd
Address
2702 W CHICAGO AVE, CHICAGO, IL 60622
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.”

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12895
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LOAN PAYABLE - HISPANIC IT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0262505
IRS990ScheduleD/TotalLiabilityAmt02895
IRS990ScheduleD/TotalRevenuePerForm990Amt0205702
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0205702
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0262505
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0HISPANIC IT EXECUTIVE COUNCIL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0205975604
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(6)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0CHARITY
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0CHICAGO
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd060606
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0true
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt02895
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0HITEC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0e
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IRS990/SignificantChangeInd0false
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalContributionsAmt0205702
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IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt068907
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0193598
IRS990/TotalFunctionalExpensesGrp/TotalAmt0262505
IRS990/TotalGrossUBIAmt00
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IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt00
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt00
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt0193598
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0205702
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0457312
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0353098
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0444 WEST LAKE STREET STE 1940
IRS990/USAddress/CityNm0CHICAGO
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060606
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IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0HTTPS://HITECGLOBAL.ORG/MPAGE/FOUNDATION
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ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0OMAR DUQUE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$353,098
Liabilities
$12,489
Net assets
$340,609
Revenue
$205,702
Expenses
$262,505
Net income
-$56,803
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