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Nonprofiteer
← HACK FOUNDATION

Form 990 for tax year 2024

Filed by HACK FOUNDATION.

Totals

Total revenue
$22,351,707
Total expenses
$14,214,400
Contributions and grants received
$21,315,830
Grants paid
$0
Program service revenue
$812,269
Investment income
$215,619
Other revenue
$7,989
Total assets, end of year
$18,742,497
Total liabilities, end of year
$434,126
Net assets or fund balances, end of year
$18,308,371
Program services expenses (Part IX)
$13,337,614
Management and general expenses
$597,662
Fundraising expenses
$279,124
Program service expenses (Part III)
$13,337,614

Program services were 93.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $330,000

  • 1f · All other contributions, gifts and grants

    $20,985,830

  • 2a · Program service revenue: FISCALLY-SPONSORED GROUP FEES

    total $812,269 · related or exempt $812,269

  • 3 · Investment income

    total $215,619 · excluded $215,619

  • 11a · Other revenue: MISCELLANEOUS

    total $7,989 · related or exempt $7,989

  • 11e · Other revenue, total

    $7,989

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $338,452 · program services $236,916 · management and general $67,690 · fundraising $33,846

  • 7 · Other salaries and wages

    total $1,764,346 · program services $1,471,371 · management and general $136,942 · fundraising $156,033

  • 9 · Other employee benefits

    total $189,519 · program services $148,364 · management and general $21,347 · fundraising $19,808

  • 10 · Payroll taxes

    total $168,224 · program services $137,150 · management and general $16,118 · fundraising $14,956

  • 11b · Fees: legal

    total $6,232 · management and general $6,232

  • 11c · Fees: accounting

    total $20,776 · management and general $20,776

  • 11g · Fees: other

    total $656,023 · program services $559,784 · management and general $90,621 · fundraising $5,618

  • 12 · Advertising and promotion

    total $100,603 · program services $84,835 · management and general $15,753 · fundraising $15

  • 13 · Office expenses

    total $86,237 · program services $65,231 · management and general $21,006

  • 14 · Information technology

    total $182,926 · program services $146,341 · management and general $36,585

  • 16 · Occupancy

    total $172,911 · program services $100,288 · management and general $54,467 · fundraising $18,156

  • 17 · Travel

    total $153,460 · program services $76,730 · management and general $46,038 · fundraising $30,692

  • 19 · Conferences, conventions and meetings

    total $3,433 · management and general $3,433

  • 23 · Insurance

    total $14,619 · management and general $14,619

  • 24a · Other expenses: SPONSORED PROJECTS

    total $9,545,562 · program services $9,545,562

  • 24b · Other expenses: PROGRAM EXPENSES

    total $746,895 · program services $720,082 · management and general $26,813

  • 24c · Other expenses: OTHER EXPENSES

    total $64,182 · program services $44,960 · management and general $19,222

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,384,467 · end of year $9,511,713

  • 2 · Savings and temporary cash investments

    beginning of year $8,698,046 · end of year $8,321,931

  • 3 · Pledges and grants receivable

    beginning of year $99,774 · end of year $626,026

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,839 · end of year $67,258

  • 11 · Investments: publicly traded securities

    beginning of year $94,725 · end of year $102,715

  • 15 · Other assets

    beginning of year $29,783 · end of year $112,854

  • 17 · Accounts payable and accrued expenses

    beginning of year $40,726 · end of year $318,820

  • 19 · Deferred revenue

    beginning of year $117,039 · end of year $2,452

  • 25 · Other liabilities

    beginning of year $29,783 · end of year $112,854

  • 27 · Net assets without donor restrictions

    beginning of year $2,374,510 · end of year $8,950,214

  • 28 · Net assets with donor restrictions

    beginning of year $7,751,576 · end of year $9,358,157

Mission and programs · 2024

Mission

THE HACK FOUNDATION, D.B.A. HACK CLUB (HACK CLUB OR ORGANIZATION) IS A NOT-FOR PROFIT ORGANIZATION FORMED IN 2016 TO HELP CREATE THE HIGHLY TECHNICAL PROBLEM SOLVERS OF TOMORROW BY ENGAGING TEENAGE PROGRAMMERS IN A WORLDWIDE NETWORK OF PEERS. THROUGH BUILDING OPEN SOURCE PROJECTS THEY'RE PROUD OF, FORMING LIFE-LONG FRIENDSHIPS, AND GAINING LIFE SKILLS THROUGH GOING ON INCREDIBLE ADVENTURES LIKE HACKATHONS. HACK CLUB RECEIVES SUPPORT AND REVENUE PRIMARILY FROM DONATIONS. HACK CLUB'S FISCAL SPONSORSHIP ACTIVITIES EXPANDED TO COVER A BROADER ARRAY OF CHARITABLE AND EDUCATIONAL ACTIVITIES IN 2023. HACK CLUB APPLIES THE SAME PRINCIPLES AND PROCEDURES IT DEVELOPED AS A SPONSOR TO CODING CLUBS TO HAVE A BROADER IMPACT ON A GREATER ARRAY OF ISSUE AREAS. HACK CLUB RETAINS ULTIMATE SUPERVISORY AUTHORITY OVER ITS PROJECTS AND REQUIRES ITS PROJECTS TO OPERATE IN A MANNER CONSISTENT WITH THE REQUIREMENTS OF 501(C)(3), WHILE EMPOWERING THEM TO USE THEIR INITIATIVE AND ENERGY TO ADVANCE THEIR MISSION

Activities or mission (Part I)

TO HELP TEENS GAIN TECHNICAL SKILLS THROUGH OPEN SOURCE PROJECTS, FRIENDSHIPS, AND ADVENTURES LIKE HACKATHONS, WHILE FISCALLY SPONSORING CHARITABLE INITIATIVES. SEE SCHEDULE O FOR MORE.

  • HACK CLUB. TOTAL REVENUE: 5,238,425. TOTAL EXPENSES: 3,792,052 HACK CLUB IS THE WORLD'S LARGEST CHARITY FOR TEENAGERS INTERESTED IN COMPUTERS AND ELECTRONICS. WE SERVE TENS OF THOUSANDS OF HIGH SCHOOLERS EACH YEAR THROUGH EDUCATIONAL COMPETITIONS AND IN-PERSON HACKATHONS, WE GIVE OVER 1M EACH YEAR TO TEENAGERS IN GRANTS AND COMPONENTS FOR THEIR PROJECTS, AND MORE. WE HELP TEENAGERS LEARN TECHNICAL SKILLS TO THRIVE IN THE 21ST CENTURY, FORM LIFELONG FRIENDSHIPS, AND BUILD LIFE SKILLS THROUGH GOING ON INCREDIBLE ADVENTURES LIKE HACKATHONS. ALMOST ALL OF OUR STAFF AND OPERATIONS ARE WITHIN HACK CLUB.

    Expenses $3,792,052

  • FISCALLY SPONSORED PROJECTS. TOTAL REVENUE: 16,085,394. TOTAL EXPENSES: 9,545,562. NOTE: THIS IS THE SUM TOTAL OF ALL FUNDS RAISED AND SPENT ACROSS ALL FISCAL SPONSEES. THIS IS NOT REVENUE OR EXPENSES OF HACK CLUB. STARTED IN 2018, THE HACK FOUNDATION STARTED OFFERING FISCAL SPONSORSHIP SERVICES TO NONPROFIT CHARITABLE PROJECTS - MANY OF WHICH ARE LED BY HIGH SCHOOLERS. TODAY WE SPONSOR A WIDE VARIETY OF FOR-GOOD NONPROFIT CHARITABLE PROJECTS THROUGH OUR IN-HOUSE DEVELOPED FINANCIAL TRANSPARENCY SOFTWARE TO HELP GRASSROOTS GROUPS DO MORE WITH LESS. HCB BY HACK CLUB.

    Expenses $9,545,562 · Revenue $812,269

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Christina Asquith

    COO AND BOAR

    Total calculated
    $219,305
    From this org
    $219,305
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $219,305
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $219,305

  • Gary Tou

    HCB TECH LEA

    Total calculated
    $140,000
    From this org
    $140,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Zachary Latta

    E.D. & PRESI

    Total calculated
    $119,146
    From this org
    $119,146
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Thomas Preston-Werner

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Samuel Quinn Slack

    TREASURER

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.0
Source object
202533219349309698

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