Hitec Foundation
- Assets
- $340.3k
- Revenue
- $204.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 04/2012
- Data as of
- 12/2021
- EIN
- 27-2869162
Organization Overview
Hitec Foundation is located in Chicago, IL. The organization was established in 2012. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hitec Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Hitec Foundation generated $204.9k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 16.7% each year . All expenses for the organization totaled $210.1k during the year ending 12/2021. While expenses have increased by 5.5% per year over the past 5 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
THE HITEC FOUNDATION'S SCHOLARSHIP, INTERNSHIP, AND MENTORING PROGRAMS WERE CREATED TO INSPIRE AND BUILD A SUSTAINABLE PIPELINE FOR FUTURE LATINX LEADERS IN TECHNOLOGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HITEC FOUNDATION HAS ESTABLISHED A SCHOLARSHIP PROGRAM TO PULL UP HISPANIC STUDENTS SO THEY CAN OBTAIN A COLLEGE DEGREE IN TECHNOLOGY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ramon Baez Chairman | OfficerTrustee | 0.5 | $0 |
Ivonne Valdes Secretary | OfficerTrustee | 0.5 | $0 |
Ernest Cordova Director | Trustee | 0.5 | $0 |
Carlos Amesquita Director | Trustee | 0.5 | $0 |
Jesse Cortez Director | Trustee | 0.5 | $0 |
Gloria Candelario Hossri Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $194,876 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $204,876 |
| Total Program Service Revenue | $0 |
| 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 | $204,876 |
| 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 | $0 |
| Fees for services: Accounting | $7,187 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,000 |
| Office expenses | $1,757 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $210,089 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $335,258 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $340,258 |
| Accounts payable and accrued expenses | $4,862 |
| 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 | $4,862 |
| Net assets without donor restrictions | $335,396 |
| 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 | $340,258 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Hitec Foundation has recieved totaling $41,645.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $12,695 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $10,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $10,000 |
Mckesson Foundation Dallas, TX PURPOSE: CHARITABLE | $8,824 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $126 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chicago Cook Workforce Partnership Chicago, IL | $32,171,643 | $83,286,997 |
Project Lead The Way Inc Indianapolis, IN | $104,347,608 | $65,462,690 |
Aspira Inc Of Illinois Chicago, IL | $37,783,687 | $23,094,089 |
Lighthouse Academies Of Northwest Indiana Inc Gary, IN | $25,011,234 | $24,142,982 |
Riverbend Head Start Delegate Inc Alton, IL | $2,230,032 | $11,645,370 |
Edchoice Inc Indianapolis, IN | $20,542,454 | $10,117,129 |
Teachers Treasures Inc Indianapolis, IN | $1,070,406 | $9,359,257 |
Academy For Urban School Leadership Chicago, IL | $9,385,123 | $10,302,671 |
Primo Center For Women And Children Chicago, IL | $5,281,489 | $8,337,109 |
North Chicago Education Fund Chicago, IL | $29,249,144 | $33,611 |
Racine Charter One Inc Racine, WI | $5,378,275 | $6,487,272 |
Rockford Rescue Mission Ministries Rockford, IL | $21,367,986 | $9,020,470 |