Civic Intelligence

Hubzone Technology Initiative Inc

EIN 83-3153294 • 501(c)3 • Henderson, NC

Profile

To bridge the digital divide by providing individuals with technology to achieve their educational and career goals.

501 S Chestnut StreetHenderson, NC 27536

www.hubzonetech.org

Siviq Scores

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

Liabilities / Assets

77th percentile

0.08x

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

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

74th percentile

0.03x

Higher debt load relative to revenue than 74% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

77th percentile

23%

Higher net margin than 77% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

97th percentile

317%

Faster asset growth than 97% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

83rd percentile

43%

Faster revenue growth than 83% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$138,645

Up $105,393 (+317%) from 2023

Liabilities

Up

$11,442

Up $4,502 (+65%) from 2023

Net Assets

Up

$127,203

Up $100,891 (+383%) from 2023

Operations
Liabilities / Revenue74th percentileNet Margin77th percentile

Revenue

Up

$429,364

Up $128,212 (+43%) from 2023

Expenses

Up

$328,473

Up $50,337 (+18%) from 2023

Net Income

Up

$100,891

Up $77,875 (+338%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth97th percentile

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

$150K$100K$50K$0Assets 2022: $8,927Liabilities 2022: $5,631Net Assets 2022: $3,2962022Assets 2023: $33,252Liabilities 2023: $6,940Net Assets 2023: $26,3122023Assets 2024: $138,645Liabilities 2024: $11,442Net Assets 2024: $127,2032024

Highlighted filing

2024

Assets$138,645
Liabilities$11,442
Net Assets$127,203
Open 2024 Filing

Operations Trend

Revenue Growth83rd percentile

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

$600K$400K$200K$0-$200KRevenue 2022: $57,001Expenses 2022: $65,712Net Income 2022: -$8,7112022Revenue 2023: $301,152Expenses 2023: $278,136Net Income 2023: $23,0162023Revenue 2024: $429,364Expenses 2024: $328,473Net Income 2024: $100,8912024

Highlighted filing

2024

Revenue$429,364
Expenses$328,473
Net Income$100,891
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$138,645
Liabilities
$11,442
Net assets
$127,203
Revenue
$429,364
Expenses
$328,473
Net income
$100,891
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.39$0.11$1.27$4.29$3.28$1.01
2023Detailed filing. Detailed filing data is available for this year.$0.33$0.07$0.26$3.01$2.78$0.23
2022Detailed filing. Detailed filing data is available for this year.$0.09$0.06$0.03$0.57$0.66$0.09
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jul 9, 2025
Return Version
2024v5.0
Gross Receipts
$429,364
Mission and Program Overview

Mission

To bridge the digital divide by providing individuals with technology to achieve their educational and career goals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$26,312$127,203▲ $100,891
Cash and Non-Interest-Bearing Accounts$33,252$114,924▲ $81,672
Land, Buildings, and Equipment, Net-$23,721-
Total Assets$33,252$138,645▲ $105,393
Liabilities
Unsecured Notes Loans Payable$4,275$7,141▲ $2,866
Accounts Payable and Accrued Expenses$2,665$3,821▲ $1,156
Other Liabilities-$480-
Total Liabilities$6,940$11,442▲ $4,502
Net Assets / Fund Balance
Total Net Assets Fund Balance$26,312$127,203▲ $100,891
Total Liabilities and Net Assets / Fund Balance$33,252$138,645▲ $105,393

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$23,721$30,388$54,109
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Aaron PalermoBoard Member
Brooke CookBoard Member
Jed DrakeBoard Member
Melissa PettisBoard Member
Robert HarperBoard Member
Matthew RaydoCEO
Don WilliamsSecretary
Jody ZeugnerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$429,364
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$429,364
Change in Net Assets
$100,891
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$325,327
Total Fundraising Expense$5,420
Salaries, Compensation, and Employee Benefits$3,146
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$201,857$13,445$5,420$220,722
Advertising$56,598--$56,598
Depreciation Depletion$30,388--$30,388
Fees for Services Management$9,040--$9,040
Office Expenses$5,839--$5,839
Other Salaries and Wages-$2,880-$2,880
Travel$1,848--$1,848
Fees for Services Accounting-$815-$815
Payroll Taxes-$266-$266
Insurance$77--$77
Total Functional Expenses$305,647$17,406$5,420$328,473
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
Payroll Liabilites$458
Sales Tax$22
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
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

Governance Explanations

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

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Hubzone Technology Initiative Inc
EIN
83-3153294
Address
501 S CHESTNUT STREET, HENDERSON, NC 27536

Signing Officer

Name
Matthew Raydo
Title
CEO
Signed
2025-07-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew Raydo
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
0
Employees
1

Preparer

Firm
Mitchell & Nemitz Pa
Address
12324 HAMPTON WAY DR STE 201, WAKE FOREST, NC 27587-6543
Preparer
Michael Williard CPA
Phone
9195569500
Supplemental Narrative

Additional Explanations

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

“In 2024, hti donated 571 chromebooks to individuals and organizations across our service area, reflecting an increase of over 40 percent compared to the previous year. As of mid-2025, we have already donated 401 chromebooks, putting us on pace to surpass our 2024 total by the end of the year. We are now partnered with over 130 nonprofit organizations and have expanded our donation program to include individuals through an easy-to- access online application. This ensures that people who aren't connected to a partner organization can still receive the technology they need. In 2024, we continued our tech builders program, offering hands-on stem learning for school-age youth, and we are preparing to launch our digital literacy skills program in summer 2025. Looking ahead, we are actively expanding our reach, with a strategic focus on deepening our presence in 15 core counties across north carolina, while continuing to support individuals and partners in other areas as resources allow.”

Form 990, Part IX, Line 11G

“Bank fees 143 0 0 business registration 0 200 0 contracted services 193,194 0 0 courier 520 0 0 dues 0 349 0 equipment rental 0 0 2,330 gifts 0 413 0 materials 0 0 2,287 meals 1,470 0 523 postage 0 551 0 prizes 0 0 280 sales fees 323 0 0 storage 141 0 0 subscriptions 0 3,233 0 supplies 6,066 8,173 0 website 0 526 0 total 201,857 13,445 5,420”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BANK FEES 143 0 0 BUSINESS REGISTRATION 0 200 0 CONTRACTED SERVICES 193,194 0 0 COURIER 520 0 0 DUES 0 349 0 EQUIPMENT RENTAL 0 0 2,330 GIFTS 0 413 0 MATERIALS 0 0 2,287 MEALS 1,470 0 523 POSTAGE 0 551 0 PRIZES 0 0 280 SALES FEES 323 0 0 STORAGE 141 0 0 SUBSCRIPTIONS 0 3,233 0 SUPPLIES 6,066 8,173 0 WEBSITE 0 526 0 TOTAL 201,857 13,445 5,420
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IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt05420
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt017406
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0305647
IRS990/TotalFunctionalExpensesGrp/TotalAmt0328473
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06940
IRS990/TotalLiabilitiesEOYAmt011442
IRS990/TotalLiabilitiesGrp/BOYAmt06940
IRS990/TotalLiabilitiesGrp/EOYAmt011442
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt026312
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0127203
IRS990/TotalProgramServiceExpensesAmt0305647
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0429364
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt033252
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0138645
IRS990/TravelGrp/ProgramServicesAmt01848
IRS990/TravelGrp/TotalAmt01848
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt04275
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt07141
IRS990/USAddress/AddressLine1Txt07424 DOVER HILLS DRIVE
IRS990/USAddress/CityNm0WAKE FOREST
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027587
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0HTTPS://WWW.HUBZONETECH.ORG/
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MATTHEW RAYDO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-07-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HUBZONE TECHNOLOGY INITIATIVE INC
ReturnHeader/Filer/BusinessNameControlTxt0HUBZ
ReturnHeader/Filer/EIN0833153294
ReturnHeader/Filer/USAddress/AddressLine1Txt0501 S CHESTNUT STREET
ReturnHeader/Filer/USAddress/CityNm0HENDERSON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027536
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561952467
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MITCHELL & NEMITZ PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt012324 HAMPTON WAY DR STE 201
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WAKE FOREST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0275876543
ReturnHeader/PreparerPersonGrp/PhoneNum09195569500
ReturnHeader/PreparerPersonGrp/PreparationDt02025-07-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL WILLIARD CPA
ReturnHeader/ReturnTs02025-07-24T09:12:48-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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