Civic Intelligence

Hbcu Founders Initiative

EIN 86-3846215 • 501(c)3 • LA Jolla, CA

Profile

The corporation is organized and operated for charitable and educational purposes, including without limitation, inspiring and supporting women and minorities to pursue entrepreneurship

1268 Prospect StreetLA Jolla, CA 92037

www.hbcufi.org

Siviq Scores

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

Liabilities / Assets

84th percentile

0.54x

Higher debt load relative to assets than 84% of similar nonprofits.

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

Liabilities / Revenue

46th percentile

0.06x

Higher debt load relative to revenue than 46% of similar nonprofits.

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

Net Margin

50th percentile

4.5%

Higher net margin than 50% of similar nonprofits.

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

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

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

Asset Growth

100th percentile

2251%

Faster asset growth than 100% of similar nonprofits.

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

Revenue Growth

86th percentile

62%

Faster revenue growth than 86% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets84th percentile

Assets

Up

$204,359

Up $195,666 (+2251%) from 2023

Liabilities

Up

$110,811

Up $110,311 (+22062%) from 2023

Net Assets

Up

$93,548

Up $85,355 (+1042%) from 2023

Operations
Liabilities / Revenue46th percentileNet Margin50th percentile

Revenue

Up

$1,902,801

Up $727,301 (+62%) from 2023

Expenses

Up

$1,817,446

Up $644,476 (+55%) from 2023

Net Income

Up

$85,355

Up $82,825 (+3274%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth100th percentile

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

$300K$200K$100K$0Assets 2022: $6,163Liabilities 2022: $500Net Assets 2022: $5,6632022Assets 2023: $8,693Liabilities 2023: $500Net Assets 2023: $8,1932023Assets 2024: $204,359Liabilities 2024: $110,811Net Assets 2024: $93,5482024

Highlighted filing

2024

Assets$204,359
Liabilities$110,811
Net Assets$93,548
Open 2024 Filing

Operations Trend

Revenue Growth86th percentile

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

$2.0M$1.5M$1.0M$500K$0Revenue 2022: $725,000Expenses 2022: $719,337Net Income 2022: $5,6632022Revenue 2023: $1,175,500Expenses 2023: $1,172,970Net Income 2023: $2,5302023Revenue 2024: $1,902,801Expenses 2024: $1,817,446Net Income 2024: $85,3552024

Highlighted filing

2024

Revenue$1,902,801
Expenses$1,817,446
Net Income$85,355
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$204,359
Liabilities
$110,811
Net assets
$93,548
Revenue
$1,902,801
Expenses
$1,817,446
Net income
$85,355
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.20$0.11$0.09$1.90$1.82$0.09
2023Summary only. Only limited summary data is available for this year.$0.01$0.00$0.01$1.18$1.17$0.00
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.01$0.00$0.01$0.73$0.72$0.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 6, 2025
Return Version
2023v6.0
Gross Receipts
$1,902,801
Mission and Program Overview

Mission

The corporation is organized and operated for charitable and educational purposes, including without limitation, inspiring and supporting women and minorities to pursue entrepreneurship

This corporation is organized and operated for charitable and educational purposes at hbcus.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$8,193$93,548▲ $85,355
Cash and Non-Interest-Bearing Accounts$6,653$405▼ $6,248
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$8,693$204,359▲ $195,666
Other Assets Total$2,040$203,954▲ $201,914
Liabilities
Accounts Payable and Accrued Expenses$0$103,002▲ $103,002
Other Liabilities$500$7,809▲ $7,309
Total Liabilities$500$110,811▲ $110,311
Net Assets / Fund Balance
Total Net Assets Fund Balance$8,193$93,548▲ $85,355
Total Liabilities and Net Assets / Fund Balance$8,693$204,359▲ $195,666

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$202,171--
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Marlon EvansPresident
Jarrid WhitneyDirector
Kelsey Morgan PasqualichioDirector
Marcela RuizDirector
Shelley ArakawaDirector
Andre KirwanSecretary
Kip QuackenbushTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,902,801
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,902,801
Change in Net Assets
$85,355
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,572,853
Salaries, Compensation, and Employee Benefits$135,417
Grants and Similar Amounts Paid$109,176
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$1,484,760$12,340-$1,497,100
Other Salaries and Wages-$135,417-$135,417
Grants to Domestic Individuals$74,916--$74,916
Grants to Domestic Orgs$34,260--$34,260
Fees for Services Accounting-$31,466-$31,466
Advertising$15,727--$15,727
Travel-$12,520-$12,520
Office Expenses-$7,749-$7,749
Insurance-$4,536-$4,536
Fees for Services Legal-$3,755-$3,755
Total Functional Expenses$1,609,663$207,783$0$1,817,446
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Dosso BeautyPhiladelphia, PA-To Help the Company Carry Out Its Goals.$7,016
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
Due to Nex Cubed, LLC$7,809
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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 A, Line 2

“Mr. Evans (president and director) and mr. Quackenbush (treasurer and director) are business associates at nex cubed, llc. This business relationship has been fully disclosed via a written conflict of interest policy and has been approved by the board of directors.”

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

“This form 990 was disseminated to all members of the board of directors for review and approval.”

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

“The organization routinely monitors and enforces compliance with its conflict of interest policy by conducting quarterly reviews with the organization's legal counsel.”

Form 990, Part VI, Section C, Line 19

“N/A”

Filing and Contact Details

Filer

Filer Name
Hbcu Founders Initiative
EIN
86-3846215
Phone
8778295500
Address
1268 PROSPECT STREET, LA JOLLA, CA 92037

Signing Officer

Name
Kip Quackenbush
Title
Treasurer
Phone
8778295500
Signed
2025-05-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kip Quackenbush
Formed
2021
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Gursey Schneider Llp
Address
16633 VENTURA BLVD SUITE 1320, ENCINO, CA 91436
Preparer
Ben Hoy
Phone
3105520960
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Bank charges: program service expenses 0. Management and general expenses 775. Fundraising expenses 0. Total expenses 775. Dues and subscription: program service expenses 0. Management and general expenses 11,365. Fundraising expenses 0. Total expenses 11,365. Fellow services: program service expenses 74,760. Management and general expenses 0. Fundraising expenses 0. Total expenses 74,760. License and permits: program service expenses 0. Management and general expenses 200. Fundraising expenses 0. Total expenses 200. Hbcu program and campus implementation service cost: program service expenses 1,410,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,410,000.”

Raw XML Appendix358 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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IRS990ScheduleI/RecipientTable/USAddress/ZIPCd019128
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0BOOK
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MR. EVANS (PRESIDENT AND DIRECTOR) AND MR. QUACKENBUSH (TREASURER AND DIRECTOR) ARE BUSINESS ASSOCIATES AT NEX CUBED, LLC. THIS BUSINESS RELATIONSHIP HAS BEEN FULLY DISCLOSED VIA A WRITTEN CONFLICT OF INTEREST POLICY AND HAS BEEN APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THIS FORM 990 WAS DISSEMINATED TO ALL MEMBERS OF THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION ROUTINELY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY BY CONDUCTING QUARTERLY REVIEWS WITH THE ORGANIZATION'S LEGAL COUNSEL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3N/A
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BANK CHARGES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 775. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 775. DUES AND SUBSCRIPTION: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 11,365. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 11,365. FELLOW SERVICES: PROGRAM SERVICE EXPENSES 74,760. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 74,760. LICENSE AND PERMITS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 200. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 200. HBCU PROGRAM AND CAMPUS IMPLEMENTATION SERVICE COST: PROGRAM SERVICE EXPENSES 1,410,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,410,000.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt08693
IRS990/TotalAssetsEOYAmt0204359
IRS990/TotalAssetsGrp/BOYAmt08693
IRS990/TotalAssetsGrp/EOYAmt0204359
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01902801
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0207783
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01609663
IRS990/TotalFunctionalExpensesGrp/TotalAmt01817446
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0500
IRS990/TotalLiabilitiesEOYAmt0110811
IRS990/TotalLiabilitiesGrp/BOYAmt0500
IRS990/TotalLiabilitiesGrp/EOYAmt0110811
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt08193
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt093548
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01609663
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01902801
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08693
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0204359
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt012520
IRS990/TravelGrp/TotalAmt012520
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01268 PROSPECT STREET
IRS990/USAddress/CityNm0LA JOLLA
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd092037
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0HTTPS://WWW.HBCUFI.ORG/
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KIP QUACKENBUSH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08778295500
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HBCU FOUNDERS INITIATIVE
ReturnHeader/Filer/BusinessNameControlTxt0HBCU
ReturnHeader/Filer/EIN0863846215
ReturnHeader/Filer/PhoneNum08778295500
ReturnHeader/Filer/USAddress/AddressLine1Txt01268 PROSPECT STREET
ReturnHeader/Filer/USAddress/CityNm0LA JOLLA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd092037
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0953309779
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GURSEY SCHNEIDER LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt016633 VENTURA BLVD SUITE 1320
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ENCINO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd091436
ReturnHeader/PreparerPersonGrp/PhoneNum03105520960
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BEN HOY
ReturnHeader/ReturnTs02025-05-12T10:38:07-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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