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Nonprofiteer
← GREATER HOUSTON HISPANIC CHAMBER OF COMMERCE FOUNDATION

Form 990 for tax year 2022

Filed by GREATER HOUSTON HISPANIC CHAMBER OF COMMERCE FOUNDATION.

Totals

Total revenue
$112,417
Total expenses
$173,627
Contributions and grants received
$112,295
Grants paid
$0
Program service revenue
$0
Investment income
$122
Other revenue
$0
Total assets, end of year
$666,237
Total liabilities, end of year
$606,008
Net assets or fund balances, end of year
$60,229
Program services expenses (Part IX)
$72,663
Management and general expenses
$80,714
Fundraising expenses
$20,250
Program service expenses (Part III)
$72,663

Program services were 41.9% 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.

  • 1f · All other contributions, gifts and grants

    $112,295

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $122 · excluded $122

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $76,190 · program services $53,333 · management and general $7,619 · fundraising $15,238

  • 24a · Other expenses: Reimbursements to Related Party

    total $97,437 · program services $19,330 · management and general $73,095 · fundraising $5,012

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $503,307 · end of year $536,111

  • 2 · Savings and temporary cash investments

    beginning of year $130,039 · end of year $130,126

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $212

  • 10b · Land, buildings and equipment: accumulated depreciation

    $212

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $37,607 · end of year $126,708

  • 19 · Deferred revenue

    beginning of year $25,000 · end of year $30,000

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $449,300 · end of year $449,300

  • 27 · Net assets without donor restrictions

    beginning of year $121,439 · end of year $60,229

Mission and programs · 2022

Mission

THE FOUNDATION SHALL PROMOTE THE ECONOMIC AND CIVIC INTEREST OF THE HISPANIC BUSINESS COMMUNITY BY EMPOWERING THE HOUSTON HISPANIC CHAMBERS OF COMMERCE THROUGH CHARITABLE AND EDUCATIONAL ACTIVITIES.

Activities or mission (Part I)

EMPOWERING THE HOUSTON HISPANIC CHAMBER OF COMMERCE THROUGH CHARITABLE AND EDUCATIONAL ACTIVITIES.

  • THE PURPOSE OF THE EMERGING LEADERS INSTITUTE IS TO IDENTIFY, DEVELOP AND EMPOWER EMERGING LEADERS. THE PROGRAM SERVES AS THE LINK BETWEEN THE EMERGING LEADERS, THE CORPORATE COMMUNITY, BUSINESS AND CIVIC ENTITIES.

    Expenses $72,663

As filed on the 2022 return.

Listed in Part VII

  • Diva Herazo

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • David Titus

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Hector Pineda

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Maria Rios

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Mark Montgomery

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Dr Laura G Murillo

    PRESIDENT & CEO

    Total calculated
    $362,997
    From this org
    $0
    From related orgs
    $345,979
    Other
    $17,018
    Hours/week
    9 + 31 related

    Schedule J breakdown matched by us

    Base
    $0 + $312,379 related
    Bonus
    $0 + $33,600 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $17,018 related
    Filer's total
    $0 + $362,997 related

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 · Independent compensation consultant
  • 3 · Written employment contract
  • 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

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
THE RELATED ORGANIZATION'S BOARD ENGAGED AN INDEPENDENT COMPENSATION CONSULTANT IN 2015 TO PERFORM A COMPENSATION STUDY FOR THE CEO. THE STUDY COVERED THE ENTIRETY OF THE CEO'S CONTRACT WHICH INCLUDES BOTH THIS ORGANIZATION AND AN AFFILIATED ORGANIZATION. THE STUDY COMPARED THE CEO'S COMPENSATION TO THE COMPENSATION OF OTHER CEO'S OF SIMILAR ORGANIZATIONS. THE BOARD MEMBERS INVOLVED IN THE DELIBERATION OF THE RESULTS WERE INDEPENDENT OF MANAGEMENT. IT WAS DETERMINED THAT THE STUDY WAS BASED ON FAIR MARKET ANALYSIS. THE STUDY WAS APPROVED BY THE EXECUTIVE COMMITTEE AND THE FULL BOARD.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
8 November 2023
IRS schema version
2022v5.0
Source object
202343129349300034

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