Hispanic It Executive Council
- Assets
- $2.0m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 5
- Location
- Chicago, IL
- Founding
- 06/2009
- Data as of
- 12/2021
- EIN
- 20-5975604
Organization Overview
Hispanic It Executive Council is located in Chicago, IL. The organization was established in 2009. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Hispanic It Executive Council employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hispanic It Executive Council is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Hispanic It Executive Council generated $2.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 9.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE HISPANIC IT LEADERSHIP IN THE TECHNOLOGY INDUSTRY. HITEC WILL PROVIDE THESE CURRENT AND FUTURE LEADERS WITH A SOLID SKILL SET THROUGH PROFESSIONAL DEVELOPMENT AND NETWORKING OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HITEC'S MISSION IS TO PROMOTE HISPANIC IT LEADERSHIP IN THE TECHNOLOGY INDUSTRY. HITEC WILL PROVIDE THESE CURRENT AND FUTURE LEADERS WITH A SOLID SKILL SET THROUGH PROFESSIONAL DEVELOPMENT AND NETWORKING OPPORTUNITIES. THERE ALSO WILL BE ACCESS TO EDUCATION AND EXECUTIVE TRAINING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Omar Duque President | OfficerTrustee | 40 | $240,000 |
Rosa Ramos-Kwok Vice Chairperson | OfficerTrustee | 2.5 | $0 |
Guillermo Diaz Jr Chairman | OfficerTrustee | 2.5 | $0 |
Darrell Higueros Treasurer | OfficerTrustee | 2.5 | $0 |
Miriam Hernandez-Kakol Secretary | OfficerTrustee | 2.5 | $0 |
Yamila Harris Director | Trustee | 1.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Susana Ramirez-chavez Commissions | 12/30/16 | $107,150 |
Trion Solutions Employee Leasing | 12/30/16 | $208,968 |
The Westin St Francis Event Venue | 12/30/16 | $182,694 |
305 Communications And Events Event Management | 12/30/16 | $102,080 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,732,167 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $24,342 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,756,509 |
| Total Program Service Revenue | $382,761 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,139,663 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,700 |
| Fees for services: Accounting | $64,625 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $240,017 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $142,787 |
| Advertising and promotion | $121,499 |
| Office expenses | $11,970 |
| Information technology | $95,939 |
| Royalties | $0 |
| Occupancy | $3,856 |
| Travel | $16,669 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $170,742 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,341 |
| All other expenses | $3,501 |
| Total functional expenses | $1,600,296 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,085,139 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $723,150 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $12,895 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $11,412 |
| Net Land, buildings, and equipment | $3,543 |
| Investments—publicly traded securities | $125,000 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,961,139 |
| Accounts payable and accrued expenses | $72,012 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $72,012 |
| Net assets without donor restrictions | $1,889,127 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,961,139 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hispanic It Executive Council has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Adp Foundation Roseland, NJ PURPOSE: CHARITABLE CONTRIBUTION | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Association Of Orthopaedic Surgeons Of America Rosemont, IL | $21,165,468 | $24,653,127 |
Dane Buy Local Foundation Inc Madison, WI | $199,958 | $19,130,759 |
St John Building Corporation St Louis, MO | $229,726,241 | $17,258,959 |
Appraisal Institute Chicago, IL | $29,125,581 | $19,187,200 |
American Massage Therapy Assn Evanston, IL | $43,659,958 | $20,082,192 |
National Roofing Contractors Association Rosemont, IL | $27,483,299 | $17,802,756 |
National Biodiesel Board Jefferson City, MO | $12,011,947 | $15,134,555 |
American Marketing Association Inc Chicago, IL | $9,741,723 | $15,191,106 |
Alliance For Audited Media Lisle, IL | $17,794,762 | $11,739,341 |
American Society Of Safety Professionals Park Ridge, IL | $23,941,077 | $16,437,200 |
Board Of Certified Safety Professionals Of The Americas Inc Indianapolis, IN | $35,079,358 | $17,695,377 |
Prestressed Concrete Institute Chicago, IL | $8,854,978 | $13,790,264 |