Civic Intelligence

Hack Foundation

990 • Fiscal year 2023 • EIN 81-2908499

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 15, 2024

Organization ProfileHACKCLUB.COM

Refreshing map…

8605 Santa Monica Blvd Suite 86294West Hollywood, CA 90069

(855) 625-4225

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$10,313,634

Up $5,508,766 (+115%) from 2022

Net Assets

Up

$10,126,086

Up $5,368,344 (+113%) from 2022

Liabilities

Up

$187,548

Up $140,422 (+298%) from 2022

Revenue And Expenses

Revenue

Up

$11,357,856

Up $6,383,018 (+128%) from 2022

Expenses

Up

$6,018,628

Up $2,848,188 (+90%) from 2022

Net Income

Up

$5,339,228

Up $3,534,830 (+196%) from 2022

Historical Trend

Balance Sheet Trend

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

2023

Assets$10,313,634
Liabilities$187,548
Net Assets$10,126,086
Open 2023 Filing

Operations Trend

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

2023

Revenue$11,357,856
Expenses$6,018,628
Net Income$5,339,228
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.0
Gross Receipts
$11,357,856
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.

Hack club instructs or trains teenagers for the purpose of improving their capabilities in coding and stem. It also serves as a fiscal sponsor of a wide variety of charitable and educational projects, with a significant focus on student-led projects.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$8,698,046-
Cash and Non-Interest-Bearing Accounts$4,646,882$1,384,467▼ $3,262,415
Pledges and Grants Receivable$50,000$99,774▲ $49,774
Investments in Publicly Traded Securities$64,392$94,725▲ $30,333
Prepaid Expenses and Deferred Charges$15,835$6,839▼ $8,996
Total Assets$4,804,868$10,313,634▲ $5,508,766
Other Assets Total$27,759$29,783▲ $2,024
Liabilities
Deferred Revenue-$117,039-
Accounts Payable and Accrued Expenses$19,367$40,726▲ $21,359
Other Liabilities$27,759$29,783▲ $2,024
Total Liabilities$47,126$187,548▲ $140,422
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,861,639$7,751,576▲ $5,889,937
Net Assets Without Donor Restrictions$2,896,103$2,374,510▼ $521,593
Total Net Assets Fund Balance$4,757,742$10,126,086▲ $5,368,344
Total Liabilities and Net Assets / Fund Balance$4,804,868$10,313,634▲ $5,508,766
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christina AsquithCOO and BoarFT$160,200$28,112$188,312
Christina AsquithCOO and Board Member-$160,200$28,112$188,312
Zachary LattaE.d. & PresiFT$119,659-$119,659

Board Members and Trustees

NameTitle
Thomas Preston-wernerSecretary
Samuel Quinn SlackTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$10,976,912
Program Service Revenue
$226,387
Investment Income
$123,120
Other Revenue
$31,437
All Other Contributions
$10,976,912
Change in Net Assets
$5,339,228

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,357,856
Revenue Not Reported on Form 990
$29,116
Total Revenue per Audited Statements
$11,386,972
Total Revenue per Form 990
$11,357,856
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,356,705
Salaries, Compensation, and Employee Benefits$1,661,923
Total Fundraising Expense$262,208
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$954,229$102,872$83,017$1,140,118
Fees for Services Other$365,842$144,693$27,825$538,360
Current Officers, Directors, Trustees, and Key Employees$184,782$30,797$92,392$307,971
Travel$142,410$30,948$16,421$189,779
Occupancy$72,175$38,864$13,070$124,109
Payroll Taxes$86,570$10,359$13,076$110,005
Other Employee Benefits$84,626$19,203-$103,829
Information Technology$82,261$19,675-$101,936
Office Expenses$49,076$21,237$12,241$82,554
Other Expenses$1,541$39,164$4,166$40,705
Conferences and Meetings-$26,515-$26,515
Fees for Services Legal-$20,225-$20,225
Advertising$396$14,522-$14,918
Insurance-$12,477-$12,477
Fees for Services Accounting-$11,187-$11,187
Total Functional Expenses$5,181,220$575,200$262,208$6,018,628

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,018,628
Total Expenses per Audited Statements$6,018,628
Total Expenses per Form 990$6,018,628
International Activity

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---
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$29,783
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. In 2023, the board was 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
2024-11-15
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
30
Volunteers
2

Preparer

Firm
Jmm & Associates Pc
Address
463 MOUNTAIN VIEW DR STE 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. Hack club's fiscal sponsorship activities expanded to cover a broader array of charitable and educational activities in 2023. Hack club applies the same principles and procedures it developed as a sponsor to coding clubs to have a broader impact on a greater array of issue areas. Hack club retains ultimate supervisory authority over its projects and requires its projects to operate in a manner consistent with the requirements of 501(c)(3), while empowering them to use their initiative and energy to advance their missions.”

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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IRS990/MissionDesc0THE 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. HACK CLUB'S FISCAL SPONSORSHIP ACTIVITIES EXPANDED TO COVER A BROADER ARRAY OF CHARITABLE AND EDUCATIONAL ACTIVITIES IN 2023. HACK CLUB APPLIES THE SAME PRINCIPLES AND PROCEDURES IT DEVELOPED AS A SPONSOR TO CODING CLUBS TO HAVE A BROADER IMPACT ON A GREATER ARRAY OF ISSUE AREAS. HACK CLUB RETAINS ULTIMATE SUPERVISORY AUTHORITY OVER ITS PROJECTS AND REQUIRES ITS PROJECTS TO OPERATE IN A MANNER CONSISTENT WITH THE REQUIREMENTS OF 501(C)(3), WHILE EMPOWERING THEM TO USE T
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LEASE 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/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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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. HACK CLUB'S FISCAL SPONSORSHIP ACTIVITIES EXPANDED TO COVER A BROADER ARRAY OF CHARITABLE AND EDUCATIONAL ACTIVITIES IN 2023. HACK CLUB APPLIES THE SAME PRINCIPLES AND PROCEDURES IT DEVELOPED AS A SPONSOR TO CODING CLUBS TO HAVE A BROADER IMPACT ON A GREATER ARRAY OF ISSUE AREAS. HACK CLUB RETAINS ULTIMATE SUPERVISORY AUTHORITY OVER ITS PROJECTS AND REQUIRES ITS PROJECTS TO OPERATE IN A MANNER CONSISTENT WITH THE REQUIREMENTS OF 501(C)(3), WHILE EMPOWERING THEM TO USE THEIR INITIATIVE AND ENERGY TO ADVANCE THEIR MISSIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 WILL BE PRESENTED TO THE BOARD BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990, PART VI, SECTION B, LINE 15 - COMPENSATION FOR THE EXECUTIVE DIRECTOR IS DETERMINED WITH A COMPARISON AGAINST OTHER NONPROFITS IN SIMILAR MARKETS. IN 2023, THE BOARD WAS INVOLVED AND RESPONSIBLE FOR SETTING THE EXECUTIVE DIRECTOR'S COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FORM 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/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,313,634
Liabilities
$187,548
Net assets
$10,126,086
Revenue
$11,357,856
Expenses
$6,018,628
Net income
$5,339,228
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