Hispanic It Executive Council
- Assets
- $2.3m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 8
- Location
- Chicago, IL
- Founding
- 06/2009
- Data as of
- 12/2022
- 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 12/2022, Hispanic It Executive Council employed 8 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 12/2022, Hispanic It Executive Council generated $1.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $2.1m during the year ending 12/2022. While expenses have increased by 12.1% per year over the past 8 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
2022
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 |
|---|---|---|---|
Guillermo Diaz Jr Chairman | OfficerTrustee | 2.5 | $0 |
Rosa Ramos-Kwok Vice Chairperson | OfficerTrustee | 2.5 | $0 |
Omar Duque President | OfficerTrustee | 40 | $240,000 |
Darrell Higueros Treasurer | OfficerTrustee | 2.5 | $0 |
Miriam Hernandez-Kakol Secretary | OfficerTrustee | 2.5 | $0 |
Jonathan Echeverria Director | Trustee | 1.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Trion Solutions Employee Leasing | 12/30/16 | $208,968 |
The Westin St Francis Event Venue | 12/30/16 | $182,694 |
Susana Ramirez-chavez Commissions | 12/30/16 | $107,150 |
305 Communications And Events Event Management | 12/30/16 | $102,080 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,555,333 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,555,333 |
| Total Program Service Revenue | $363,681 |
| Investment income | -$118 |
| 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 | $1,918,896 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $40,000 |
| 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 | $1,358 |
| Fees for services: Accounting | $61,734 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $377,168 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $152,756 |
| Advertising and promotion | $50,764 |
| Office expenses | $58,304 |
| Information technology | $75,883 |
| Royalties | $0 |
| Occupancy | $538 |
| Travel | $147,396 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $368,133 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $11,581 |
| All other expenses | $834 |
| Total functional expenses | $2,137,202 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,125,276 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,001,055 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $22,895 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $12,949 |
| Investments—publicly traded securities | $102,333 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,264,508 |
| Accounts payable and accrued expenses | $113,737 |
| Grants payable | $0 |
| Deferred revenue | $487,500 |
| 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 | $15,000 |
| Other liabilities | $0 |
| Total liabilities | $616,237 |
| Net assets without donor restrictions | $1,648,271 |
| 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 | $2,264,508 |