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Nonprofiteer
← MICHIGAN HISPANIC CHAMBER OF COMMERCE

Form 990 for tax year 2023

Filed by MICHIGAN HISPANIC CHAMBER OF COMMERCE.

Totals

Total revenue
$704,244
Total expenses
$710,016
Contributions and grants received
$309,789
Grants paid
$70,000
Program service revenue
$39,430
Investment income
$6,320
Other revenue
$348,705
Total assets, end of year
$603,465
Total liabilities, end of year
$271,999
Net assets or fund balances, end of year
$331,466
Program services expenses (Part IX)
$292,968
Management and general expenses
$210,310
Fundraising expenses
$206,738
Program service expenses (Part III)
$292,968

Program services were 41.3% 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.

  • 1b · Membership dues

    $175,783

  • 1f · All other contributions, gifts and grants

    $134,006

  • 2a · Program service revenue: PROGRAM REVENUE

    total $39,430 · related or exempt $39,430

  • 3 · Investment income

    total $8,874 · excluded $8,874

  • 7a · Gross sales of assets other than inventory

    securities $45,914

  • 7b · Less cost or other basis and sales expenses

    securities $48,468

  • 7c · Gain or loss

    securities -$2,554

  • 7d · Net gain or loss

    total -$2,554 · excluded -$2,554

  • 8a · Fundraising events: gross income

    $555,525

  • 8b · Fundraising events: direct expenses

    $253,608

  • 8c · Net income from fundraising events

    total $301,917 · excluded $301,917

  • 11a · Other revenue: OTHER INCOME

    total $46,788 · related or exempt $46,788

  • 11e · Other revenue, total

    $46,788

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $70,000 · program services $70,000

  • 5 · Compensation of officers, directors and key employees

    total $175,750 · program services $59,722 · management and general $51,690 · fundraising $64,338

  • 7 · Other salaries and wages

    total $215,597 · program services $73,264 · management and general $63,409 · fundraising $78,924

  • 9 · Other employee benefits

    total $40,560 · program services $13,782 · management and general $11,929 · fundraising $14,849

  • 10 · Payroll taxes

    total $29,278 · program services $9,949 · management and general $8,610 · fundraising $10,719

  • 11g · Fees: other

    total $66,112 · program services $23,724 · management and general $12,852 · fundraising $29,536

  • 13 · Office expenses

    total $5,861 · program services $1,200 · management and general $4,661

  • 17 · Travel

    total $5,150 · program services $112 · management and general $2,513 · fundraising $2,525

  • 19 · Conferences, conventions and meetings

    total $3,878 · program services $1,845 · management and general $187 · fundraising $1,846

  • 23 · Insurance

    total $3,399 · management and general $3,399

  • 24a · Other expenses: PROGRAM

    total $36,169 · program services $36,169

  • 24b · Other expenses: PROVISION FOR CREDIT LO

    total $20,539 · management and general $20,539

  • 24c · Other expenses: CHARITABLE CONTRIBUTION

    total $8,658 · management and general $8,658

  • 24d · Other expenses: BANK SERVICE CHARGE

    total $6,474 · management and general $6,474

  • 24e · All other expenses

    total $22,591 · program services $3,201 · management and general $15,389 · fundraising $4,001

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $121,698 · end of year $55,890

  • 4 · Accounts receivable

    beginning of year $147,375 · end of year $189,404

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,869 · end of year $4,863

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

    $5,393

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

    $5,393

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $294,179 · end of year $353,308

  • 17 · Accounts payable and accrued expenses

    beginning of year $21,555 · end of year $31,137

  • 19 · Deferred revenue

    beginning of year $207,769 · end of year $202,795

  • 25 · Other liabilities

    beginning of year $33,369 · end of year $38,067

  • 27 · Net assets without donor restrictions

    beginning of year $309,428 · end of year $331,466

Mission and programs · 2023

Mission

THE MICHIGAN HISPANIC CHAMBER OF COMMERCE WAS FORMED FOR THE PURPOSE OF ASSISTING HISPANIC & MINORITY BUSINESSES IN THE STATE OF MICHIGAN IN EXPANDING THEIR CUSTOMER BASES,STRENGTHING THEIR BUSINESS SKILLS, NETWORKING WITH OTHERS IN THE BUSINESS COMMUNITY AND PROMOTING ITS MEMBERS' BUSINESSES.

Activities or mission (Part I)

THE MICHIGAN HISPANIC CHAMBER OF COMMERCE WAS FORMED FOR THE PURPOSE OF ASSISTING HISPANIC & MINORITY BUSINESSES IN THE STATE OF MICHIGAN IN EXPANDING THEIR CUSTOMER BASES, STRENGTHING THEIR BUSINESS SKILLS, NETWORKING WITH OTHERS IN THE BUSINESS COMMUNITY AND PROMOTING ITS MEMBERS BUSINESSES.

  • THE MICHIGAN HISPANIC CHAMBER OF COMMERCE IS A VIABLE ECONOMIC ENTITY REPRESENTING THE INTERESTS OF HISPANIC AND OTHER MINORITY BUSINESSES IN THE STATE OF MICHIGAN.

    Expenses $292,968 · Grants $70,000 · Revenue $86,218

  • THE MICHIGAN HISPANIC CHAMBER OF COMMERCE IS A VIABLE ECONOMIC ENTITY REPRESENTING THE INTERESTS OF HISPANIC AND OTHER MINORITY BUSINESSES IN THE STATE OF MICHIGAN.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • JESSE VENEGAS

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • PAUL URESTE

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • JACINTO BLANCO

    CORPORATE VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.25

  • BRIAN MOORE

    CORPORATE VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.25

  • DEAN MORALES

    HBE VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • COURTNEY MORALES HOFMANN

    HBE VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JEFF WYATT

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • ROBERT GARCIA

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.25

  • JAMES BEATH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • OSCAR CAMARGO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • LAWRENCE GARCIA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • GABRIEL RODRIGUEZ-GARRIGA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • LYNN GARRISON

    CORPORATE VICE-CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • RICHELLE GONZALEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • JENNIFER GOOD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • JESSE LOPEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • MARIA MARIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • JULIE NOWICKI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • BRUNO OLVERA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • LISA POINTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • ANITA-MARIA QUILLEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • TRAVIS SPENCER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • MARK MORENO

    EXECUTIVE DIRECTOR

    Total calculated
    $181,000
    From this org
    $175,750
    From related orgs
    $0
    Other
    $5,250
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,750
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $5,250
    Filer's total
    $181,000

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 · 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

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
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202443199349307014

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