Civic Intelligence

Hitec Foundation

990 • Fiscal year 2022 • EIN 27-2869162

Jan 01, 2022 to Dec 31, 2022 • Filed on May 15, 2023

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

46th percentile

0.01x

Higher debt load relative to assets than 46% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

47th percentile

0.02x

Higher debt load relative to revenue than 47% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

89th percentile

48%

Higher net margin than 89% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

53rd percentile

$0

Higher top officer pay than 53% of similar nonprofits.

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

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

87th percentile

54%

Faster asset growth than 87% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

87th percentile

86%

Faster revenue growth than 87% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets46th percentile

Assets

Up

$524,290

Up $184,032 (+54%) from 2021

Net Assets

Up

$518,490

Up $183,094 (+55%) from 2021

Liabilities

Up

$5,800

Up $938 (+19%) from 2021

Revenue And Expenses
Liabilities / Revenue47th percentileNet Margin89th percentile

Revenue

Up

$380,362

Up $175,486 (+86%) from 2021

Expenses

Down

$197,268

Down $12,821 (-6.1%) from 2021

Net Income

Up

$183,094

Up $188,307 (+3612%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth87th 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

2022

Assets$524,290
Liabilities$5,800
Net Assets$518,490
Open 2022 Filing

Operations Trend

Revenue Growth87th 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

2022

Revenue$380,362
Expenses$197,268
Net Income$183,094
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 15, 2023
Return Version
2022v5.0
Gross Receipts
$380,362
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$335,258$504,290▲ $169,032
Other Notes and Loans Receivable, Net-$15,000-
Accounts Receivable$5,000$5,000→ $0
Land, Buildings, and Equipment, Net$0--
Total Assets$340,258$524,290▲ $184,032
Liabilities
Accounts Payable and Accrued Expenses$4,862$5,800▲ $938
Total Liabilities$4,862$5,800▲ $938
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$335,396$518,490▲ $183,094
Total Net Assets Fund Balance$335,396$518,490▲ $183,094
Total Liabilities and Net Assets / Fund Balance$340,258$524,290▲ $184,032
Compensation and Service Providers
Top Officer Pay53rd percentile

Board Members and Trustees

NameTitle
Ivonne ValdesChairman
Carlos AmesquitaDirector
Ernest CordovaDirector
Gloria Candelario HossriDirector
Jesse CortezDirector
Patricia RiosDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$380,362
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$183,094
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$197,268
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
Office Expenses$0$4,584$0$4,584
Fees for Services Accounting$0$1,747$0$1,747
Other Expenses$0$935$0$935
Total Functional Expenses$190,002$7,266$0$197,268
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
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
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Omar Duque
Formed
2010
Legal Domicile
Il
Voting Board Members
6
Independent Board Members
6
Employees
0
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

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

Raw XML Appendix368 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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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$524,290
Liabilities
$5,800
Net assets
$518,490
Revenue
$380,362
Expenses
$197,268
Net income
$183,094
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