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Hubzone Technology Initiative INC

Tax-deductible

Henderson, NC501(c)(3)Science & TechnologyEIN 83-3153294Revenue $364K in FY2025

On file with the IRShubzonetech.org501 S Chestnut St, 27536-4102 · Henderson, NCTax-exempt since Jul 2019Publicly supported charity — 170(b)(1)(A)(vi)

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To bridge the digital divide by providing individuals with Technology to achieve their educational and career goals.

501(c)(3) charity; gifts are tax-deductible.
33¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average surplus $9K a year · 3% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
33%
of spending
Concern: 33% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $33K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$4K
7% of total assets
Looks good: liabilities are 7% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 7 voting members
Concern: none of 7 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$364K
-15% vs prior year
Spent
$442K
To programs
33%
Net assets
$49K
By yearFY2022–FY2025
Revenue
$364K
FY2025▼ -15%
Tap a bar for its year
Revenue by fiscal year
FY2022$57K
FY2023$301K
FY2024$429K
FY2025$364K
Expenses
$442K
FY2025▲ +35%
Tap a bar for its year
Expenses by fiscal year
FY2022$66K
FY2023$278K
FY2024$328K
FY2025$442K
Net assets
$49K
FY2025▼ -62%
Tap a bar for its year
Net assets by fiscal year
FY2022$3K
FY2023$26K
FY2024$127K
FY2025$49K

From the FY2025 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2019.

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

Where the money goes

33 cents of each dollar spent went to programs.

Program services 33% · $147K Management & general 66% · $291K Fundraising 1% · $4K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation
Brooke Cook
Board Member
$0Pt VII · Sec A
Jed Drake
Board Member
$0Pt VII · Sec A
Robert Harper
Board Member
$0Pt VII · Sec A
Aaron Palermo
Board Member
$0Pt VII · Sec A
Melissa Pettis
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Jody Zeugner
Treasurer
$0Pt VII · Sec A
See Hubzone Technology Initiative INC executive salaries →

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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 15aNo

Programs and updates

Provides technology to help people reach their education and career goals.

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Provided by the organization

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1 program · $147K · in their own filed words · FY2025
01

In 2025, hti donated 676 chromebooks to individuals and organizations across our service area, reflecting continued growth over the prior year. As of MID-2026, we have already donated 560 chromebooks, putting us on pace to significantly surpass our 2025 total by the end of the year.

$147Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Cannon Foundation INCFY2024$26K
American Online Giving Foundation INCFY2024$7K
Total grants receivedfrom 2 funders$33K

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$364K
Ln 12
Gifts and grantsLn 1h$364K
Money outPt IX
$442K
Ln 25
Programscol B$147K
Managementcol C$291K
Fundraisingcol D$4K
Owns and owesPt X
$49K
net assets · Ln 32
Cash and savingsLn 1–2$37K
Total assetsLn 16$53K
LiabilitiesLn 26$4K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$364K
Government grantsLn 1e$214K
Total revenueLn 12$364K
Assets in detailPt X, end of year
CashLn 1$34K
SavingsLn 2$2K
Cash and savings togetherLn 1–2$37K
Land, buildings, equipmentLn 10c$14K
Other assetsLn 15$1K
Total assetsLn 16$53K
LiabilitiesLn 26$4K
Net assetsLn 32$49K
OperationsPt I, VI
EmployeesI 56
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$115K$37K
Land, buildings, equipmentLn 10c$24K$14K
Total assetsLn 16$139K$53K
LiabilitiesLn 26$11K$4K
Net assetsLn 32$127K$49K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$246K$246K
Payroll taxesLn 10$21K$21K
Management feesLn 11a$880$880
Accounting feesLn 11c$1K$1K
Other fees for servicesLn 11g$78K$51K$23K$4K
Advertising and promotionLn 12$33K$33K
Office expensesLn 13$15K$15K
OccupancyLn 16$19K$19K
TravelLn 17$4K$4K
Depreciation, depletion and amortizationLn 22$20K$20K
InsuranceLn 23$3K$3K
Total functional expensesLn 25$442K$147K$291K$4K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $364K$442K−$78K$49K 990 PDF
FY2024 $429K$328K$101K$127K 990 PDF
FY2023 $301K$278K$23K$26K 990 PDF
FY2022 $57K$66K−$9K$3K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $363,940 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $429,364$363,940
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $429,364$363,940
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $3,146$267,525
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $325,327$174,678
I-18 Total expensesPrior year $328,473$442,203
I-19 Revenue less expensesPrior year $100,891−$78,263
Part VI · Governance 0 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $363,940 across 4 lines filed
VIII-1e Government grants$214,380
VIII-1f All other contributions, gifts and grants$149,560
VIII-1h Total contributions, gifts and grants$363,940
VIII-12 Total revenue$363,940
Part IX · Statement of functional expenses $442,203 across 11 lines filed
IX-7 Other salaries and wagesManagement $246,111$246,111
IX-10 Payroll taxesManagement $21,414$21,414
IX-11a Management feesPrograms $880$880
IX-11c Accounting feesManagement $1,150$1,150
IX-11g Other fees for servicesPrograms $51,479 · Management $22,806 · Fundraising $4,119$78,404
IX-12 Advertising and promotionPrograms $33,142$33,142
IX-13 Office expensesPrograms $15,467$15,467
IX-16 OccupancyPrograms $18,517$18,517
IX-17 TravelPrograms $3,642$3,642
IX-22 Depreciation, depletion and amortizationPrograms $20,249$20,249
IX-23 InsurancePrograms $3,227$3,227
IX-25 Total functional expensesPrograms $146,603 · Management $291,481 · Fundraising $4,119$442,203
Part X · Balance sheet $52,771 assets, 10 lines filed
Asset lines not itemized here account for $850; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $114,924$34,292
X-2 Savings and temporary cash investments$2,396
X-10c Land, buildings and equipment, netStart of year $23,721$14,233
X-15 Other assets$1,000
X-16 Total assetsStart of year $138,645$52,771
X-17 Accounts payable and accrued expensesStart of year $3,821$779
X-25 Other liabilitiesStart of year $480$3,052
X-26 Total liabilitiesStart of year $11,442$3,831
X-32 Total net assets or fund balancesStart of year $127,203$48,940
X-33 Total liabilities and net assetsStart of year $138,645$52,771
Part XI · Reconciliation of net assets $48,940 net assets at year end
XI-1 Total revenue$363,940
XI-2 Total expenses$442,203
XI-3 Revenue less expenses−$78,263
XI-4 Net assets at start of year$127,203
XI-10 Net assets at end of year$48,940

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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