Civic Intelligence

Midland Hispanic Chamber of Commerce Inc

EIN 75-2047644 • 501(c)6 • Midland, TX

Profile

To promote the growth and prosperity of small businesses and the community of Midland, Texas.

208 S Marienfield StMidland, TX 79701

www.midlandhcc.com

Siviq Scores

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

Liabilities / Assets

49th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)6 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

51st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)6 • <$500k nonprofits • Source year 2023

Net Margin

60th percentile

5.5%

Higher net margin than 60% of similar nonprofits.

501(c)6 • <$500k nonprofits • Source year 2023

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.

501(c)6 • <$500k nonprofits • Source year 2023

Asset Growth

93rd percentile

66%

Faster asset growth than 93% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

99th percentile

668%

Faster revenue growth than 99% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Up

$118,609

Up $47,280 (+66%) from 2022

Liabilities

Down

$0

Down $18,806 (-100%) from 2022

Net Assets

Up

$118,609

Up $66,086 (+126%) from 2022

Revenue

Up

$395,778

Up $344,259 (+668%) from 2022

Expenses

Up

$373,985

Up $269,024 (+256%) from 2022

Net Income

Up

$21,793

Up $75,235 (+141%) from 2022

Trend Graphs

Balance Sheet Trend

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

$300K$200K$100K$0-$100K-$200KAssets 2010: $129,695Liabilities 2010: $133,236Net Assets 2010: -$3,5412010Assets 2011: $127,938Liabilities 2011: $150,876Net Assets 2011: -$22,9382011Assets 2012: $142,330Liabilities 2012: $130,974Net Assets 2012: $11,3562012Assets 2013: $95,733Liabilities 2013: $46,787Net Assets 2013: $48,9462013Assets 2014: $91,664Liabilities 2014: $11,374Net Assets 2014: $80,2902014Assets 2015: $144,354Liabilities 2015: $7,202Net Assets 2015: $137,1522015Assets 2016: $112,701Liabilities 2016: $31,727Net Assets 2016: $80,9742016Assets 2017: $80,193Liabilities 2017: $98,148Net Assets 2017: -$17,9552017Assets 2018: $65,919Liabilities 2018: $104,667Net Assets 2018: -$38,7482018Assets 2019: $161,711Liabilities 2019: $219,247Net Assets 2019: -$57,5362019Assets 2020: $64,962Liabilities 2020: $200,582Net Assets 2020: -$135,6202020Assets 2021: $110,971Liabilities 2021: $45,866Net Assets 2021: $65,1052021Assets 2022: $71,329Liabilities 2022: $18,806Net Assets 2022: $52,5232022Assets 2023: $118,609Liabilities 2023: $0Net Assets 2023: $118,6092023

Highlighted filing

2023

Assets$118,609
Liabilities$0
Net Assets$118,609

Operations Trend

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

$400K$200K$0-$200KRevenue 2010: $219,535Expenses 2010: $223,129Net Income 2010: -$3,5942010Expenses 2011: $233,7292011Expenses 2012: $196,3752012Expenses 2013: $234,8802013Revenue 2014: $205,834Expenses 2014: $174,489Net Income 2014: $31,3452014Revenue 2015: $235,168Expenses 2015: $180,315Net Income 2015: $54,8532015Revenue 2016: $125,525Expenses 2016: $181,703Net Income 2016: -$56,1782016Revenue 2017: $93,432Expenses 2017: $192,361Net Income 2017: -$98,9292017Revenue 2018: $136,874Expenses 2018: $157,667Net Income 2018: -$20,7932018Revenue 2019: $117,017Expenses 2019: $135,805Net Income 2019: -$18,7882019Revenue 2020: $95,631Expenses 2020: $112,223Net Income 2020: -$16,5922020Revenue 2021: $214,081Expenses 2021: $98,227Net Income 2021: $115,8542021Revenue 2022: $51,519Expenses 2022: $104,961Net Income 2022: -$53,4422022Revenue 2023: $395,778Expenses 2023: $373,985Net Income 2023: $21,7932023

Highlighted filing

2023

Revenue$395,778
Expenses$373,985
Net Income$21,793

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$1.19$0.00$1.19$3.96$3.74$0.22
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.71$0.19$0.53$0.52$1.05$0.53
2021Detailed filing. Detailed filing data is available for this year.$1.11$0.46$0.65$2.14$0.98$1.16
2020Detailed filing. Detailed filing data is available for this year.$0.65$2.01$1.36$0.96$1.12$0.17
2019Detailed filing. Detailed filing data is available for this year.$1.62$2.19$0.58$1.17$1.36$0.19
2018Detailed filing. Detailed filing data is available for this year.$0.66$1.05$0.39$1.37$1.58$0.21
2017Detailed filing. Detailed filing data is available for this year.$0.80$0.98$0.18$0.93$1.92$0.99
2016Detailed filing. Detailed filing data is available for this year.$1.13$0.32$0.81$1.26$1.82$0.56
2015Detailed filing. Detailed filing data is available for this year.$1.44$0.07$1.37$2.35$1.80$0.55
2014Detailed filing. Detailed filing data is available for this year.$0.92$0.11$0.80$2.06$1.74$0.31
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.96$0.47$0.49$2.35
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.42$1.31$0.11$1.96
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.28$1.51$0.23$2.34
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.30$1.33$0.04$2.20$2.23$0.04
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Jun 25, 2025
Return Version
2022v5.0
Gross Receipts
$395,778
Mission and Program Overview

Mission

To promote the growth and prosperity of small businesses and the community of Midland, Texas.

To unite Midland businesses and professionals under one organization, directed by the leadership and guidance of an elected policymaking Board of Directors

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$66,247$115,449▲ $49,202
Land, Buildings, and Equipment, Net$5,082$3,160▼ $1,922
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$71,329$118,609▲ $47,280
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$18,806--
Total Liabilities$18,806$0▼ $18,806
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$52,523$118,609▲ $66,086
Total Net Assets Fund Balance$52,523$118,609▲ $66,086
Total Liabilities and Net Assets / Fund Balance$71,329$118,609▲ $47,280

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$71,216$71,216
Leasehold Improvements$3,160$25,661$28,821
Compensation and Service Providers

Board Members and Trustees

NameTitle
Adrian CarrascoChairman
Jeanette ReyesChairman
Jack LaddDirector
Olga GuebaraDirector
Tracy VallesDirector
Luis SanchezExecutive Director
Richard MadridExecutive Director
Adrian UrquidiTrustee
Angelica RamseyTrustee
Samantha ClarkTrustee
Samantha HughesTrustee
Veronica ReyesTrustee
Marissa SalgadoSecretary
Luis EsquivelTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$385,778
Program Service Revenue
$0
Investment Income
$10,000
Other Revenue
$0
All Other Contributions
$226,832
Change in Net Assets
$21,793
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$295,931
Salaries, Compensation, and Employee Benefits$73,754
Grants and Similar Amounts Paid$2,500
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings---$242,300
Current Officers, Directors, Trustees, and Key Employees---$73,754
Office Expenses---$15,153
Advertising---$10,502
Fees for Services Accounting---$5,000
Insurance---$3,761
Travel---$2,635
Grants to Domestic Individuals---$2,500
Depreciation Depletion---$1,922
Benefits to Members---$1,800
All Other Expenses---$1,673
Other Expenses---$1,045
Interest---$151
Total Functional Expenses$0$0$0$373,985
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
In-house lobbying only
No
Subject to proxy tax
Yes
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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, Part VI, Section B, Line 11B

No review was or will be conducted.

Form 990, Part VI, Section C, Line 19

No documents available to the public.

Form 990, Part VI, Section B, Line 11B

The 990 was provided to the executive director to distribute to board members to review and approve at their next regularly scheduled board meeting. This was done after filing.

Form 990, Part VI, Section B, Line 12C:

Upon their election to the board, the directors complete a conflict of interest statement. Potential conflicts are monitored by board officers and executive management throughout the year and any action items required to be voted upon by the board.

Form 990, Part VI, Section B, Line 15A:

The executive board officers normally conduct an annual evaluation of the CEO and use compensation from comparable local sources to determine salary within budget parameters of the Chamber. No review was done for this fiscal year.

Filing and Contact Details

Filer

Filer Name
Midland Hispanic Chamber of Commerce Inc
EIN
75-2047644
Phone
4327045533
Address
208 S Marienfield St, Midland, TX 79701

Signing Officer

Name
Luis Sanchez
Title
Executive Director
Signed
2025-06-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Luis Sanchez
Formed
1984
Legal Domicile
TX
Voting Board Members
14
Independent Board Members
14
Employees
1

Preparer

Firm
Gemini Tax & Bookkeeping Services LLC
Address
314 E Spruce Ave, Midland, TX 79705-5639
Preparer
Melissa Armendariz
Phone
4322305355
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 8:

The Chamber experienced turnover in the executive director position as well as bookkeeping services during this fiscal year, Financial statements had to be reconstructed due to loss of information up until the time of filing. A prior period adjustment was made to adjust beginning net asset balances in order to present a complete set of financial statements for the fiscal year at the time of filing. The financial statements were not compliled, reviewed, or audited by the preparer. An amended return will be filed at a later date if necessary once all records and data are in order.

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IRS990/InsuranceGrp/TotalAmt03761
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IRS990/LandBldgEquipCostOrOtherBssAmt0100037
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IRS990/LocalChaptersInd0false
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IRS990/MissionDesc0To promote the growth and prosperity of small businesses and the community of Midland, Texas
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IRS990/NetGainOrLossInvestmentsGrp/UnrelatedBusinessRevenueAmt010000
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IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
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IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/OfficeExpensesGrp/TotalAmt015153
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IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherExpensesGrp/Desc0RENT
IRS990/OtherExpensesGrp/Desc1BANK CHARGES AND FEES
IRS990/OtherExpensesGrp/Desc2BOARD EXPENSES
IRS990/OtherExpensesGrp/Desc3MEALS
IRS990/OtherExpensesGrp/TotalAmt09000
IRS990/OtherExpensesGrp/TotalAmt11729
IRS990/OtherExpensesGrp/TotalAmt21060
IRS990/OtherExpensesGrp/TotalAmt31045
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IRS990/PartialLiquidationInd0false
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0LUIS SANCHEZ
IRS990/PriorPeriodAdjustmentsAmt044293
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgSrvcAccomActy2Grp/Desc0Marketing programs include promotional programs to increase the number of visitors and tourism for Midland.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt026656
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IRS990/PYOtherExpensesAmt049145
IRS990/PYProgramServiceRevenueAmt024863
IRS990/PYRevenuesLessExpensesAmt0-53442
IRS990/PYSalariesCompEmpBnftPaidAmt055816
IRS990/PYTotalExpensesAmt0104961
IRS990/PYTotalRevenueAmt051519
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IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
IRS990ScheduleD/EquipmentGrp/DepreciationAmt071216
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt071216
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt03160
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt025661
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt028821
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03160
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The 990 was provided to the executive director to distribute to board members to review and approve at their next regularly scheduled board meeting. This was done after filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Upon their election to the board, the directors complete a conflict of interest statement. Potential conflicts are monitored by board officers and executive management throughout the year and any action items required to be voted upon by the board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The executive board officers normally conduct an annual evaluation of the CEO and use compensation from comparable local sources to determine salary within budget parameters of the Chamber. No review was done for this fiscal year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The Chamber experienced turnover in the executive director position as well as bookkeeping services during this fiscal year, Financial statements had to be reconstructed due to loss of information up until the time of filing. A prior period adjustment was made to adjust beginning net asset balances in order to present a complete set of financial statements for the fiscal year at the time of filing. The financial statements were not compliled, reviewed, or audited by the preparer. An amended return will be filed at a later date if necessary once all records and data are in order.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 12c:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 15a:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XI, Line 8:
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0373985
IRS990/TotalGrossUBIAmt010000
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IRS990/TravelGrp/TotalAmt02635
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IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0208 S Marienfield St
IRS990/USAddress/CityNm0Midland
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd079701
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0www.midlandhcc.com
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LUIS SANCHEZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-06-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Midland Hispanic Chamber of Commerce Inc
ReturnHeader/Filer/BusinessNameControlTxt0MIDL
ReturnHeader/Filer/EIN0752047644
ReturnHeader/Filer/PhoneNum04327045533
ReturnHeader/Filer/USAddress/AddressLine1Txt0208 S Marienfield St
ReturnHeader/Filer/USAddress/CityNm0Midland
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd079701
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0852328270
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Gemini Tax & Bookkeeping Services LLC

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