Civic Intelligence

Hack Foundation

990 • Fiscal year 2022 • EIN 81-2908499

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 14, 2023

Organization ProfileHACKCLUB.COM

Refreshing map…

8605 Santa Monica Blvd Suite 86294West Hollywood, CA 90069

(855) 625-4225

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

30th percentile

0.01x

Higher debt load relative to assets than 30% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

25th percentile

0.01x

Higher debt load relative to revenue than 25% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

83rd percentile

36%

Higher net margin than 83% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2022

Asset Growth

90th percentile

58%

Faster asset growth than 90% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

86th percentile

64%

Faster revenue growth than 86% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets30th percentile

Assets

Up

$4,804,868

Up $1,772,166 (+58%) from 2021

Net Assets

Up

$4,757,742

Up $2,223,800 (+88%) from 2021

Liabilities

Down

$47,126

Down $451,634 (-91%) from 2021

Revenue And Expenses
Liabilities / Revenue25th percentileNet Margin83rd percentile

Revenue

Up

$4,974,838

Up $1,933,718 (+64%) from 2021

Expenses

Up

$3,170,440

Up $1,459,417 (+85%) from 2021

Net Income

Up

$1,804,398

Up $474,301 (+36%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

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

$20M$15M$10M$5.0M$0Assets 2017: $8,042Liabilities 2017: $636Net Assets 2017: $7,4062017Assets 2018: $104,567Liabilities 2018: $13,732Net Assets 2018: $90,8352018Assets 2019: $1,203,719Liabilities 2019: $60,310Net Assets 2019: $1,143,4092019Assets 2020: $1,476,563Liabilities 2020: $26,963Net Assets 2020: $1,449,6002020Assets 2021: $3,032,702Liabilities 2021: $498,760Net Assets 2021: $2,533,9422021Assets 2022: $4,804,868Liabilities 2022: $47,126Net Assets 2022: $4,757,7422022Assets 2023: $10,313,634Liabilities 2023: $187,548Net Assets 2023: $10,126,0862023Assets 2024: $18,742,497Liabilities 2024: $434,126Net Assets 2024: $18,308,3712024

Highlighted filing

2022

Assets$4,804,868
Liabilities$47,126
Net Assets$4,757,742
Open 2022 Filing

Operations Trend

Revenue Growth86th percentile

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

$30M$20M$10M$0-$10MRevenue 2017: $38,167Expenses 2017: $115,803Net Income 2017: -$77,6362017Revenue 2018: $285,026Expenses 2018: $202,132Net Income 2018: $82,8942018Revenue 2019: $1,648,010Expenses 2019: $556,873Net Income 2019: $1,091,1372019Revenue 2020: $1,600,932Expenses 2020: $1,413,912Net Income 2020: $187,0202020Revenue 2021: $3,041,120Expenses 2021: $1,711,023Net Income 2021: $1,330,0972021Revenue 2022: $4,974,838Expenses 2022: $3,170,440Net Income 2022: $1,804,3982022Revenue 2023: $11,357,856Expenses 2023: $6,018,628Net Income 2023: $5,339,2282023Revenue 2024: $22,351,707Expenses 2024: $14,214,400Net Income 2024: $8,137,3072024

Highlighted filing

2022

Revenue$4,974,838
Expenses$3,170,440
Net Income$1,804,398
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 14, 2023
Return Version
2022v5.0
Gross Receipts
$4,974,838
Mission and Program Overview

Mission

The Hack Foundation is a nonprofit corporation organized and operated exclusively for educational and charitable purposes. The specific purpose of this organization is to instruct or train individuals for the purpose of improving or developing their capabilities in coding.

The specific purpose of the hack foundation is to instruct or train individuals for the purpose of improving their capabilities in coding and stem.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,899,500$4,646,882▲ $1,747,382
Investments in Publicly Traded Securities$131,727$64,392▼ $67,335
Pledges and Grants Receivable-$50,000-
Prepaid Expenses and Deferred Charges$1,475$15,835▲ $14,360
Total Assets$3,032,702$4,804,868▲ $1,772,166
Other Assets Total-$27,759-
Liabilities
Other Liabilities-$27,759-
Accounts Payable and Accrued Expenses$11,400$19,367▲ $7,967
Total Liabilities$11,400$47,126▲ $35,726
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,533,942$2,896,103▲ $362,161
Net Assets With Donor Restrictions$487,360$1,861,639▲ $1,374,279
Total Net Assets Fund Balance$3,021,302$4,757,742▲ $1,736,440
Total Liabilities and Net Assets / Fund Balance$3,032,702$4,804,868▲ $1,772,166
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christina AsquithCOO and BoarFT$160,000$26,856$186,856
Christina AsquithCOO and Board Member-$160,000$26,856$186,856
Zachary LattaE.d. & PresiFT$82,446-$82,446

Board Members and Trustees

NameTitle
Thomas Preston-wernerSecretary
Samuel Quinn SlackTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,882,926
Program Service Revenue
$88,291
Investment Income
$631
Other Revenue
$2,990
All Other Contributions
$4,882,926
Change in Net Assets
$1,804,398

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,974,838
Revenue Not Reported on Form 990
$-67,958
Total Revenue per Audited Statements
$4,906,880
Total Revenue per Form 990
$4,974,838
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,182,347
Salaries, Compensation, and Employee Benefits$988,093
Total Fundraising Expense$214,691
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$498,564$57,233$66,028$621,825
Fees for Services Other$271,640$15,321-$286,961
Current Officers, Directors, Trustees, and Key Employees$132,454$25,832$111,016$269,302
Travel$55,616$16,214$8,107$79,937
Occupancy-$62,502$6,945$69,447
Payroll Taxes$48,385$4,486$13,919$66,790
Information Technology$51,207$5,690-$56,897
Other Expenses$9,500$32,862-$42,362
Fees for Services Accounting-$34,835-$34,835
Other Employee Benefits$21,816$5,226$3,134$30,176
Advertising$23,070$4,720-$27,790
Office Expenses-$22,168$5,542$27,710
Conferences and Meetings$2,250$6,480-$8,730
Fees for Services Legal-$7,069-$7,069
Insurance-$4,888-$4,888
Total Functional Expenses$2,640,235$315,514$214,691$3,170,440

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,170,440
Total Expenses per Audited Statements$3,170,440
Total Expenses per Form 990$3,170,440
International Activity

International Summary

Employees
7

International Compliance

Foreign grant records maintained
No
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
South AsiaProgram ServicesHack Club Prog. Serv-7-
South AmericaProgram ServicesHack Club Prog. Serv---
Sub-saharan AfricaProgram ServicesHack Club Prog. Serv---
Middle East and North AfricaProgram ServicesHack Club Prog. Serv---
Canada and MexicoProgram ServicesHack Club Prog. Serv---
EuropeProgram ServicesHack Club Prog. Serv---
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
Lease Liabilities$27,759
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
Yes
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

Governance Explanations

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

“Form 990 will be presented to the board before filing.”

Form 990, Page 6, Part VI, Line 15A

“Form 990, part vi, section b, line 15 - compensation for the executive director is determined with a comparison against other nonprofits in similar markets. The board is involved and responsible for setting the executive director's compensation.”

Form 990, Page 6, Part VI, Line 19

“Form 990, part vi, section c, line 19 - the form 990 is made available to the public via guidestar. Governing documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
The Hack Foundation
EIN
81-2908499
Phone
8556254225
Address
8605 SANTA MONICA BLVD SUITE 86294, WEST HOLLYWOOD, CA 90069

Signing Officer

Name
Zachary Latta
Title
E.d. & President
Phone
8556254225
Signed
2023-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Zachary Latta
Formed
2016
Legal Domicile
CA
Voting Board Members
4
Independent Board Members
2
Employees
56
Volunteers
2

Preparer

Firm
Jmm & Associates Pc
Address
463 MOUNTAIN VIEW DRIVE SUITE 403, COLCHESTER, VT 05446
Preparer
Randall L Sargent CPA
Phone
8026555665
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item C

“HACK CLUB”

FORM 990 - ORGANIZATION'S MISSION

“The hack foundation, d/b/a hack club (hack club or organization) is a not- for-profit organization formed in 2016 to help create the highly technical problem-solvers of tomorrow by engaging teenage programmers in a worldwide network of peers. Through local clubs, hackathons and our online community, hack clubbers learn to code, build lifelong friendships and collaborate on innovative products and services addressing needs at local and international levels. Hack club receives support and revenue primarily from donations.”

Form 990, Part V, Line 4B

“INDIA”

Financial Statement Notes

Schedule D, Page 3, Part X

“The hack foundation, d/b/a hack club is a not-for-profit organization that is exempt from income taxes and is classified as a public charity under section 501(c)(3) of the internal revenue code, except for income taxes on unrelated business income. The organization does not believe it has any uncertain tax positions and has not recorded any tax liabilities.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE HACK FOUNDATION, D/B/A HACK CLUB IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES AND IS CLASSIFIED AS A PUBLIC CHARITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT FOR INCOME TAXES ON UNRELATED BUSINESS INCOME. THE ORGANIZATION DOES NOT BELIEVE IT HAS ANY UNCERTAIN TAX POSITIONS AND HAS NOT RECORDED ANY TAX LIABILITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0SOUTH ASIA
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt1SOUTH AMERICA
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt2SUB-SAHARAN AFRICA
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt3MIDDLE EAST AND NORTH AFRICA
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt4CANADA AND MEXICO
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt5EUROPE
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0HACK CLUB PROG. SERV
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt2HACK CLUB PROG. SERV
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt3HACK CLUB PROG. SERV
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt4HACK CLUB PROG. SERV
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt5HACK CLUB PROG. SERV
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0PROGRAM SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt1PROGRAM SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt2PROGRAM SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt3PROGRAM SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt4PROGRAM SERVICES
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IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0SOUTH ASIA 0 0 SOUTH AMERICA 0 0 SUB-SAHARAN AFRICA 0 0 MIDDLE EAST AND NORTH AFRICA 0 0 CANADA AND MEXICO 0 0 EUROPE 0 0
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt1SCHEDULE F, PART I, LINE 2 - FOR OPERATING EXPENSES INCURRED IN INDIA, HACK CLUB MAINTAINED A FUND OVERSEEN BY A TEAM MEMBER IN INDIA TO COVER EXPENSES. THIS PROGRAM ENDED IN 2022. FOR ANY OTHER INTERNATIONAL OPERATING EXPENSES OUTSIDE OF THE US AND INDIA, THEY ARE APPROVED ON A PER-ITEM BASIS BY HACK CLUB HEADQUARTERS IN THE US.
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE F, PAGE 1, PART I, LINE 3
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE F, PAGE 5, PART V
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0CHRISTINA ASQUITH
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0COO AND BOARD MEMBER
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0HACK CLUB
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE HACK FOUNDATION, D/B/A HACK CLUB (HACK CLUB OR ORGANIZATION) IS A NOT- FOR-PROFIT ORGANIZATION FORMED IN 2016 TO HELP CREATE THE HIGHLY TECHNICAL PROBLEM-SOLVERS OF TOMORROW BY ENGAGING TEENAGE PROGRAMMERS IN A WORLDWIDE NETWORK OF PEERS. THROUGH LOCAL CLUBS, HACKATHONS AND OUR ONLINE COMMUNITY, HACK CLUBBERS LEARN TO CODE, BUILD LIFELONG FRIENDSHIPS AND COLLABORATE ON INNOVATIVE PRODUCTS AND SERVICES ADDRESSING NEEDS AT LOCAL AND INTERNATIONAL LEVELS. HACK CLUB RECEIVES SUPPORT AND REVENUE PRIMARILY FROM DONATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2INDIA
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 WILL BE PRESENTED TO THE BOARD BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FORM 990, PART VI, SECTION B, LINE 15 - COMPENSATION FOR THE EXECUTIVE DIRECTOR IS DETERMINED WITH A COMPARISON AGAINST OTHER NONPROFITS IN SIMILAR MARKETS. THE BOARD IS INVOLVED AND RESPONSIBLE FOR SETTING THE EXECUTIVE DIRECTOR'S COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FORM 990, PART VI, SECTION C, LINE 19 - THE FORM 990 IS MADE AVAILABLE TO THE PUBLIC VIA GUIDESTAR. GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$4,804,868
Liabilities
$47,126
Net assets
$4,757,742
Revenue
$4,974,838
Expenses
$3,170,440
Net income
$1,804,398
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.7$0.43$18.3$22.4$14.2$8.14
2023Detailed filing. Detailed filing data is available for this year.$10.3$0.19$10.1$11.4$6.02$5.34
2022Detailed filing. Detailed filing data is available for this year.$4.80$0.05$4.76$4.97$3.17$1.80
2021Detailed filing. Detailed filing data is available for this year.$3.03$0.50$2.53$3.04$1.71$1.33
2020Detailed filing. Detailed filing data is available for this year.$1.48$0.03$1.45$1.60$1.41$0.19
2019Detailed filing. Detailed filing data is available for this year.$1.20$0.06$1.14$1.65$0.56$1.09
2018Detailed filing. Detailed filing data is available for this year.$0.10$0.01$0.09$0.29$0.20$0.08
2017Detailed filing. Detailed filing data is available for this year.$0.01$0.00$0.01$0.04$0.12$0.08