Civic Intelligence

West Michigan Hispanic Chamber of Commerce Foundation

EIN 27-5303783 • 501(c)3 • Grand Rapids, MI

Profile

The foundation promotes economic development by fostering the next generation of new businesses and creating related employment opportunities.

2007 Division Avenue SouthGrand Rapids, MI 49507

westmihcc.org/FOUNDATION

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

80th percentile

0.41x

Higher debt load relative to assets than 80% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

77th percentile

0.37x

Higher debt load relative to revenue than 77% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

84th percentile

38%

Higher net margin than 84% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

87th percentile

$177,887

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 7.3% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

98th percentile

346%

Faster asset growth than 98% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

98th percentile

530%

Faster revenue growth than 98% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets80th percentile

Assets

Up

$2,187,337

Up $1,696,502 (+346%) from 2023

Liabilities

Up

$906,974

Up $772,124 (+573%) from 2023

Net Assets

Up

$1,280,363

Up $924,378 (+260%) from 2023

Operations
Liabilities / Revenue77th percentileNet Margin84th percentile

Revenue

Up

$2,442,301

Up $2,054,902 (+530%) from 2023

Expenses

Up

$1,517,922

Up $985,223 (+185%) from 2023

Net Income

Up

$924,379

Up $1,069,679 (+736%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth98th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2018: $163,701Liabilities 2018: $36,834Net Assets 2018: $126,8672018Assets 2019: $164,104Liabilities 2019: $59,057Net Assets 2019: $105,0472019Assets 2020: $426,392Liabilities 2020: $396,258Net Assets 2020: $30,1342020Assets 2021: $364,086Liabilities 2021: $33,224Net Assets 2021: $330,8622021Assets 2022: $974,760Liabilities 2022: $473,475Net Assets 2022: $501,2852022Assets 2023: $490,835Liabilities 2023: $134,850Net Assets 2023: $355,9852023Assets 2024: $2,187,337Liabilities 2024: $906,974Net Assets 2024: $1,280,3632024

Highlighted filing

2024

Assets$2,187,337
Liabilities$906,974
Net Assets$1,280,363
Open 2024 Filing

Operations Trend

Revenue Growth98th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2018: $170,434Expenses 2018: $44,337Net Income 2018: $126,0972018Revenue 2019: $195,667Expenses 2019: $217,487Net Income 2019: -$21,8202019Revenue 2020: $491,367Expenses 2020: $566,280Net Income 2020: -$74,9132020Revenue 2021: $730,500Expenses 2021: $552,272Net Income 2021: $178,2282021Revenue 2022: $743,104Expenses 2022: $572,681Net Income 2022: $170,4232022Revenue 2023: $387,399Expenses 2023: $532,699Net Income 2023: -$145,3002023Revenue 2024: $2,442,301Expenses 2024: $1,517,922Net Income 2024: $924,3792024

Highlighted filing

2024

Revenue$2,442,301
Expenses$1,517,922
Net Income$924,379
Open 2024 Filing

Filings

Most recent year

2024 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$2,187,337
Liabilities
$906,974
Net assets
$1,280,363
Revenue
$2,442,301
Expenses
$1,517,922
Net income
$924,379
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.19$0.91$1.28$2.44$1.52$0.92
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.49$0.13$0.36$0.39$0.53$0.15
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.97$0.47$0.50$0.74$0.57$0.17
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.36$0.03$0.33$0.73$0.55$0.18
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.43$0.40$0.03$0.49$0.57$0.07
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.16$0.06$0.11$0.20$0.22$0.02
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.16$0.04$0.13$0.17$0.04$0.13
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 10, 2023
Return Version
2022v5.0
Gross Receipts
$743,104
Mission and Program Overview

Mission

Tax exempt entity for the west michigan hispanic chamber of commerce

The foundation promotes economic development by fostering the next generation of new businesses and creating related employment opportunities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$56,360$502,893▲ $446,533
Pledges and Grants Receivable$286,375$460,250▲ $173,875
Land, Buildings, and Equipment, Net$21,351$11,497▼ $9,854
Prepaid Expenses and Deferred Charges-$120-
Total Assets$364,086$974,760▲ $610,674
Liabilities
Accounts Payable and Accrued Expenses$33,224$473,475▲ $440,251
Total Liabilities$33,224$473,475▲ $440,251
Net Assets / Fund Balance
Net Assets With Donor Restrictions$313,415$487,290▲ $173,875
Net Assets Without Donor Restrictions$17,447$13,995▼ $3,452
Total Net Assets Fund Balance$330,862$501,285▲ $170,423
Total Liabilities and Net Assets / Fund Balance$364,086$974,760▲ $610,674

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$11,497$37,775-
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Guillermo CisnerosPresident &PT$136,289$136,289

Board Members and Trustees

NameTitle
Juan Carlos HernandezPresident
Caryn ZavalaBoard Member
Graciela WillbrandtBoard Member
Greg SanialBoard Member
Isabel MedellinBoard Member
Luis AvilaBoard Member
Maria CurtisBoard Member
Raul AlvarezBoard Member
Rene RodriguezBoard Member
Tony BakerSecretary
Tessa KeenaTreasurer
Brad LaackmanVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$743,104
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$710,659
Change in Net Assets
$170,423

Audited Revenue Reconciliation

Revenue per Audited Statements
$743,104
Revenue Not Reported on Form 990
$4,834
Total Revenue per Audited Statements
$747,938
Total Revenue per Form 990
$743,104
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$530,352
Other Expenses$42,329
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$530,352--$530,352
Fees for Services Accounting-$32,445-$32,445
Depreciation Depletion$9,854--$9,854
Other Expenses-$30-$30
Total Functional Expenses$540,206$32,475$0$572,681

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$577,515
Expenses per Audited Statements$572,681
Total Expenses per Form 990$572,681
Expenses Not Reported on Form 990$4,834
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
West Mich Hispanic Chamber of CommGrand Rapids, MI501c6Program Funding$530,352
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
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Executive director and board reveiws the 990 upon completion.”

Form 990, Page 6, Part VI, Line 19

“Organization makes the governing documents, 990 tax return, and financial statements available to the public upon request to the executive director and/or board members.”

Filing and Contact Details

Filer

Filer Name
West Michigan Hispanic Chamber of
EIN
27-5303783
Phone
6164523960
Address
2007 DIVISION AVENUE SOUTH, GRAND RAPIDS, MI 49507

Signing Officer

Name
Guillermo Cisneros
Title
President & CEO
Phone
6164523960
Signed
2023-10-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Guillermo Cisneros
Formed
2017
Legal Domicile
Mi
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
12

Preparer

Firm
Andrews Hooper Pavlik Plc
Address
2311 EAST BELTLINE AVE SE STE 200, GRAND RAPIDS, MI 49546
Preparer
Eric a Ryan
Phone
6169426440
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Unity fund grants - unity fund exists to provide matching funds for small latinx business owners that are not able to provide sick leave for ill employess during covid-19.”

Financial Statement Notes

Schedule D, Page 3, Part X

“West michigan hispanic chamber of commerce foundation is a not-for-profit foundation exempt from income taxes under section 501 (c)(3) of the internal revenue code. However, income from certain activities not directly related to west michigan hispanic chamber of commerce foundation's tax exempt purpose is subject to taxation as unrelated business income. Generally, tax years from 2019 through the current year remain open to examination. Management does not believe that the results from any examination of these open years would have a material adverse effect on west michigan chamber of commerce foundation.”

Raw XML AppendixShowing 400 of 446 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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IRS990/ProgSrvcAccomActy2Grp/Desc0TALENT DEVELOPMENT THROUGH EDUCATION EXISTS TO BUILD A PIPLELINE THAT CONNECTS LATINX COLLEGE STUDENTS WITH AREA EMPLOYERS.
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IRS990/ProgSrvcAccomActy3Grp/Desc0THE FOUNDATION SUPPORTS THE WEST MICHIGAN HISPANIC CHAMBER OF COMMERCE AND OTHER ORGANZATIONS WITH SIMILAR MISSIONS, TO INCREASE ECONOMIC ADVANCEMENT OF HISPANIC OWNED BUSINESSES AND TO ASSIST THE PROFESSIONAL GROWTH OF HISPANIC BUSINESS LEADERS IN WEST MICHIGAN.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0UNITY FUND GRANTS - UNITY FUND EXISTS TO PROVIDE MATCHING FUNDS FOR SMALL LATINX BUSINESS OWNERS THAT ARE NOT ABLE TO PROVIDE SICK LEAVE FOR ILL EMPLOYESS DURING COVID-19.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0WEST MICHIGAN HISPANIC CHAMBER OF COMMERCE FOUNDATION IS A NOT-FOR-PROFIT FOUNDATION EXEMPT FROM INCOME TAXES UNDER SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO WEST MICHIGAN HISPANIC CHAMBER OF COMMERCE FOUNDATION'S TAX EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. GENERALLY, TAX YEARS FROM 2019 THROUGH THE CURRENT YEAR REMAIN OPEN TO EXAMINATION. MANAGEMENT DOES NOT BELIEVE THAT THE RESULTS FROM ANY EXAMINATION OF THESE OPEN YEARS WOULD HAVE A MATERIAL ADVERSE EFFECT ON WEST MICHIGAN CHAMBER OF COMMERCE FOUNDATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt02007 DIVISION AVENUE S
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE MAIN GRANT EXPENSE IS FOR THE WEST MICHIGAN HISPANIC CHAMBER OF COMMERCE. ALL OTHER GRANTS ARE MONITORED.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0UNITY FUND GRANTS - UNITY FUND EXISTS TO PROVIDE MATCHING FUNDS FOR SMALL LATINX BUSINESS OWNERS THAT ARE NOT ABLE TO PROVIDE SICK LEAVE FOR ILL EMPLOYESS DURING COVID-19.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EXECUTIVE DIRECTOR AND BOARD REVEIWS THE 990 UPON COMPLETION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZATION MAKES THE GOVERNING DOCUMENTS, 990 TAX RETURN, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST TO THE EXECUTIVE DIRECTOR AND/OR BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
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