United States Hispanic Chamber Of Commerce Educational Fund
- Assets
- $4.8m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 09/2018
- Data as of
- 12/2023
- EIN
- 82-3593693
Organization Overview
United States Hispanic Chamber Of Commerce Educational Fund is located in Washington, DC. The organization was established in 2018. According to its NTEE Classification (B01) the organization is classified as: Alliances & Advocacy, 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. United States Hispanic Chamber Of Commerce Educational Fund 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 12/2023, United States Hispanic Chamber Of Commerce Educational Fund generated $2.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 70.1% each year . All expenses for the organization totaled $1.9m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, United States Hispanic Chamber Of Commerce Educational Fund has awarded 174 individual grants totaling $4,913,203. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EDUCATIONAL PROGRAMS FOR HISPANIC BUSINESS ACROSS THE US
Describe the Organization's Program Activity:
Part 3 - Line 4a
AVANZAR ("TO ADVANCE" IN SPANISH) IS A SIX- TO EIGHT-MONTH BUSINESS ACCELERATOR PROGRAM DESIGNED TO TAKE HISPANIC BUSINESSES TO THE NEXT LEVEL WITH CURATED SKILLS BUILDING SESSIONS, RESOURCES, TOOLS, AND AN ACTION PLAN TO POSITION PARTICIPANTS FOR SUCCESS. AVANZAR PARTICIPANTS WILL COME AWAY WITH AN UPDATED BUSINESS PLAN, HOW BEST TO ACCESS CAPITAL FOR THEIR BUSINESS, AND WORKSHOPS AIMED TO STRENGTHEN OPERATIONS, MARKETING CAPABILITIES TO SUPPORT THEIR VISON OF SCALING THEIR BUSINESS.AVANZAR WAS LAUNCHED IN 2019 THANKS TO THE INVESTMENT AND PARTNERSHIP OF WELLS FARGO. SINCE 2019, AVANZAR HAS EXPANDED TO SUPPORT HISPANIC BUSINESSES IN ADDITIONAL CITIES AND REGIONS THANKS TO SUPPORT FROM USAA AND PHILIP MORRIS INTERNATIONAL WHO HAVE JOINED WELLS FARGO IN THE MISSION TO ADVANCE HISPANIC BUSINESSES READY TO GROW THEIR BUSINESS WITH AVANZAR.
ELEVATE TOGETHER ELEVATE TOGETHER DIRECTLY SUPPORTS BLACK AND HISPANIC SMALL BUSINESS OWNERS WITH THE MISSION OF HELPING LOCAL ECONOMIES, FOSTERING JOB CREATION, AND HELPING TO CLOSE THE RACIAL WEALTH GAP. IN PARTNERSHIP WITH THE ODP CORPORATION AND ROUND IT UP AMERICA, THE INITIATIVE HELPS SUPPORT SMALL BUSINESSES WITH FIVE OR LESS EMPLOYEE THROUGH TECHNICAL ASSISTANCE GRANTS, PROGRAMS, AND MENTORSHIP.
IN HER FOOTSTEPS IS A MOVEMENT TO HIGHLIGHT LATINA LEADERSHIP THROUGH PERSONAL STORIES OF TRIUMPH, INSPIRATION, AND RESILIENCE. THIS INITIATIVE LOOKS TO PROVIDE THE COMMUNITY WITH HELPFUL INFORMATION, RESOURCES, AND STRATEGIES TO SUPPORT ENTREPRENEURS AND EXECUTIVES THROUGH THE CONTRIBUTIONS OF LATINA LEADERS ACROSS ALL SECTORS.IN HER FOOTSTEPS WAS INITIALLY LAUNCHED IN 2018, THANKS TO THE PARTNERSHIP AND COMMUNITY INVESTMENTS OF BANK OF AMERICA TO DEVELOP A PODCAST TO FEATURE LATINA EXECUTIVES FROM ALL SECTORS TO SHARE WHAT IT'S LIKE TO FOLLOW IN HER FOOTSTEPS. THE PODCAST HAS SINCE BECOME A DIGITAL SERIES LAUNCHING LATER THIS YEAR AND WILL FEATURE 10 LATINA ENTREPRENEURS ON WHAT THEY HAVE LEARNED RUNNING AND GROWING A BUSINESS INCLUDING TOPICS SUCH AS ACCESS TO CAPITAL AND BALANCING THEIR FAMILY AND BUSINESS NEEDS. THE USHCC EDUCATIONAL FUND IS LOOKING TO EXPAND ITS PROGRAMMING TO ADDRESS OPPORTUNITIES TO UPLIFT LATINAS ACROSS ALL SECTORS AND DEVELOP A SPACE TO NURTURE AND SUPPORT THEIR JOURNEY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alice Rodriguez Board Member | Trustee | 1 | $0 |
Betty Manetta Board Member | Trustee | 1 | $0 |
Carlos Becerra Board Member | Trustee | 1 | $0 |
Daniel Galindo Board Member | Trustee | 1 | $0 |
Jackie Puente Board Member | Trustee | 1 | $0 |
Juan Carlos Liscano Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,550,922 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,550,922 |
| Total Program Service Revenue | $0 |
| Investment income | $2,966 |
| 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 | $2,553,888 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,175,085 |
| 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 | $311,464 |
| Fees for services: Legal | $204 |
| Fees for services: Accounting | $45,292 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $336,849 |
| Advertising and promotion | $0 |
| Office expenses | $1,299 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $23,880 |
| 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 | $1,901,709 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,502,423 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $310,422 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $20,932 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,315 |
| 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 | $4,837,092 |
| Accounts payable and accrued expenses | $66,459 |
| 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 | $519,002 |
| Total liabilities | $585,461 |
| Net assets without donor restrictions | $1,769,325 |
| Net assets with donor restrictions | $2,482,306 |
| 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 | $4,837,092 |
Grants Awarded
Over the last fiscal year, United States Hispanic Chamber Of Commerce Educational Fund has awarded $1,160,585 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
BRISA BERUMEN-DIXON DBA SEABREEZE NEMT PURPOSE: AARP FOUNDATION UPSKILLING PROGRAM TRAINING FUNDS | $8,585 |
ARIZONA HISPANIC CHAMBER OF COMMERCE FOUNDATION PURPOSE: AVANZAR AND ELEVATE TOGETHER PROGRAMS | $115,000 |
DEMETRIUS MORTON DBA GLORY PRESERVATION COMPANY PURPOSE: AARP FOUNDATION UPSKILLING PROGRAM TRAINING FUNDS | $14,000 |
CONCILO HISPANO DE EMPRESAS DE COLORADO SPRINGS PURPOSE: AVANZAR PROGRAM | $25,000 |
DESERT HARBOR YOUTH AND TEEN CENTER DBA FAMILY RESOURCE CENTER OF THE TRI-C PURPOSE: AARP FOUNDATION UPSKILLING PROGRAM TRAINING FUNDS | $10,000 |
ENEASHA ACKLES PURPOSE: AARP FOUNDATION UPSKILLING PROGRAM TRAINING FUNDS | $20,000 |