Hispanic IT Executive Council FY2023 filing

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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.

37¢ of each $1 spent went to programs.
$606K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $199K a year · 8% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
37%
of spending
Concern: 37% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$606K
to officers and key staff · 23% of spending
Worth a look: pay to officers and key staff is 23% of spending; over 20%.
Pt VII · Sec A
4 mo
of spending, in cash
Looks good: 4.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$413K
15% of total assets
Looks good: liabilities are 15% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 16 voting members
Looks good: 15 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.3M
+74% vs prior year
Spent
$2.7M
To programs
37%
Net assets
$2.3M
By yearFY2020–FY2024
Revenue
$3.3M
FY2023▲ +74%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.0M
FY2021$2.1M
FY2022$1.9M
FY2023$3.3M
FY2024$2.3M
Expenses
$2.7M
FY2023▲ +25%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.5M
FY2021$1.6M
FY2022$2.1M
FY2023$2.7M
FY2024$2.8M
Net assets
$2.3M
FY2023▲ +41%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.3M
FY2021$1.9M
FY2022$1.6M
FY2023$2.3M
FY2024$1.9M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2009.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

37 cents of each dollar spent went to programs.

Program services 37% · $1.0M Management & general 29% · $789K Fundraising 33% · $887K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

18 people listed on the 990; $606K paid to officers and key staff.

Part VII, Section A · reportable compensation
President
$300,000Pt VII · Sec A
Executive Director of Hitec
$181,863Pt VII · Sec A
Executive Director of Hitec Foundation
$124,000Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Omar Duque’s $360K as President is at the 91st percentile of top reported officer pay among 2832 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Omar Duque$360,000$300,000$240,000$240,000$195,112
Susana C Ramirez$201,235$181,863———
Kelley M Francis$164,000$124,000———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Develops Hispanic IT leaders through professional development and networking.

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Provided by the organization

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1 program · $1.0M · in their own filed words · FY2023
01

Hitecs 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.

$1.0Mprogram expense

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$3.3M
Ln 12
Gifts and grantsLn 1h$1.7M
Fees for servicesLn 2g$1.6M
Money outPt IX
$2.7M
Ln 25
Programscol B$1.0M
Managementcol C$789K
Fundraisingcol D$887K
Owns and owesPt X
$2.3M
net assets · Ln 32
Cash and savingsLn 1–2$900K
Total assetsLn 16$2.7M
LiabilitiesLn 26$413K
PeoplePt VI, VII
18
listed · VII A
PaidVII A3
Voting boardVI 1a16
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.7M
Fees for servicesLn 2g$1.6M
Total revenueLn 12$3.3M
Assets in detailPt X, end of year
CashLn 1$900K
Cash and savings togetherLn 1–2$900K
InvestmentsLn 11–13$812K
Land, buildings, equipmentLn 10c$19K
Total assetsLn 16$2.7M
LiabilitiesLn 26$413K
Net assetsLn 32$2.3M
OperationsPt I, VI
EmployeesI 55
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$1.1M$900K
InvestmentsLn 11–13$102K$812K
Land, buildings, equipmentLn 10c$13K$19K
Total assetsLn 16$2.3M$2.7M
LiabilitiesLn 26$616K$413K
Net assetsLn 32$1.6M$2.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$2K$365$2K$0
Accounting feesLn 11c$86K$0$86K$0
Professional fundraising feesLn 11e$358K$358K
Other fees for servicesLn 11g$116K$100K$7$16K
Advertising and promotionLn 12$62K$58K$4K$146
Office expensesLn 13$75K$30K$38K$6K
Information technologyLn 14$100K$0$23K$77K
TravelLn 17$417K$119K$240K$57K
Conferences, conventions and meetingsLn 19$465K$402K$26$63K
InsuranceLn 23$6K$0$6K$0
Other expenses (24a–d)Ln 24$990K$292K$389K$310K
All other expensesLn 24e$1K$66$895$43
Total functional expensesLn 25$2.7M$1.0M$789K$887K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.3M$2.8M−$457K$1.9M 990 PDF
FY2023 Viewing $3.3M$2.7M$668K$2.3M 990 PDF
FY2022 $1.9M$2.1M−$218K$1.6M 990 PDF
FY2021 $2.1M$1.6M$539K$1.9M 990 PDF
FY2020 $2.0M$1.5M$463K$1.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $3,346,046 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,555,333$1,703,477
I-9 Program service revenuePrior year $363,681$1,642,569
I-10 Investment incomePrior year −$118$0
I-11 Other revenue$0
I-12 Total revenuePrior year $1,918,896$3,346,046
I-13 Grants and similar amounts paidPrior year $40,000$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising feesPrior year $377,168$357,800
I-17 Other expensesPrior year $1,889,334$2,320,236
I-18 Total expensesPrior year $2,306,502$2,678,036
I-19 Revenue less expensesPrior year −$387,606$668,010
Part VI · Governance 15 of 16 board members independent, no flags
VI-1a Voting members of the governing body16
VI-1b Independent voting members15
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $3,346,046 across 4 lines filed
VIII-1b Membership dues$1,703,477
VIII-1h Total contributions, gifts and grants$1,703,477
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $1,642,569$1,642,569
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,642,569$3,346,046
Part IX · Statement of functional expenses $2,678,036 across 12 lines filed
IX-11b Legal feesPrograms $365 · Management $1,870 · Fundraising $0$2,235
IX-11c Accounting feesPrograms $0 · Management $86,133 · Fundraising $0$86,133
IX-11e Professional fundraising feesFundraising $357,800$357,800
IX-11g Other fees for servicesPrograms $100,392 · Management $7 · Fundraising $15,795$116,194
IX-12 Advertising and promotionPrograms $57,943 · Management $4,143 · Fundraising $146$62,232
IX-13 Office expensesPrograms $30,186 · Management $38,145 · Fundraising $6,264$74,595
IX-14 Information technologyPrograms $0 · Management $23,424 · Fundraising $76,884$100,308
IX-17 TravelPrograms $119,223 · Management $239,943 · Fundraising $57,351$416,517
IX-19 Conferences, conventions and meetingsPrograms $401,579 · Management $26 · Fundraising $63,184$464,789
IX-23 InsurancePrograms $0 · Management $5,961 · Fundraising $0$5,961
IX-24 Other expenses (24a–d)Programs $291,947 · Management $388,529 · Fundraising $309,792$990,268
IX-24e All other expensesPrograms $66 · Management $895 · Fundraising $43$1,004
IX-25 Total functional expensesPrograms $1,001,701 · Management $789,076 · Fundraising $887,259$2,678,036
Part X · Balance sheet $2,741,871 assets, 11 lines filed
Asset lines not itemized here account for $12,895; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,125,276$900,351
X-3 Pledges and grants receivableStart of year $1,001,055$997,436
X-10c Land, buildings and equipment, netStart of year $12,949$19,002
X-11 Publicly traded securitiesStart of year $102,333$812,187
X-16 Total assetsStart of year $2,264,508$2,741,871
X-17 Accounts payable and accrued expensesStart of year $113,737$75,979
X-19 Deferred revenueStart of year $487,500$337,500
X-26 Total liabilitiesStart of year $616,237$413,479
X-27 Net assets without donor restrictionsStart of year $1,648,271$2,328,392
X-32 Total net assets or fund balancesStart of year $1,648,271$2,328,392
X-33 Total liabilities and net assetsStart of year $2,264,508$2,741,871
Part XI · Reconciliation of net assets $2,328,392 net assets at year end
XI-1 Total revenue$3,346,046
XI-2 Total expenses$2,678,036
XI-3 Revenue less expenses$668,010
XI-4 Net assets at start of year$1,648,271
XI-5 Net unrealized gains (losses) on investments$9,854
XI-8 Prior period adjustments$2,257
XI-10 Net assets at end of year$2,328,392

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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