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Nonprofiteer
← UNITED STATES HISPANIC CHAMBER OF COMMERCE EDUCATIONAL FUND

Form 990 for tax year 2023

Filed by UNITED STATES HISPANIC CHAMBER OF COMMERCE EDUCATIONAL FUND.

Totals

Total revenue
$2,553,888
Total expenses
$1,901,709
Contributions and grants received
$2,550,922
Grants paid
$1,175,085
Program service revenue
$0
Investment income
$2,966
Other revenue
$0
Total assets, end of year
$4,837,092
Total liabilities, end of year
$585,461
Net assets or fund balances, end of year
$4,251,631
Program services expenses (Part IX)
$1,522,657
Management and general expenses
$344,775
Fundraising expenses
$34,277
Program service expenses (Part III)
$1,522,657

Program services were 80.1% 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

    $2,550,922

  • 3 · Investment income

    total $2,966 · excluded $2,966

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,175,085 · program services $1,175,085

  • 11a · Fees: management

    total $311,464 · program services $108,520 · management and general $177,488 · fundraising $25,456

  • 11b · Fees: legal

    total $204 · program services $49 · management and general $145 · fundraising $10

  • 11c · Fees: accounting

    total $45,292 · management and general $45,292

  • 11g · Fees: other

    total $336,849 · program services $229,240 · management and general $100,832 · fundraising $6,777

  • 13 · Office expenses

    total $1,299 · program services $315 · management and general $922 · fundraising $62

  • 17 · Travel

    total $23,880 · program services $7,650 · management and general $14,612 · fundraising $1,618

  • 24a · Other expenses: DUES & SUBSCRIPTIONS

    total $7,421 · program services $1,798 · management and general $5,269 · fundraising $354

  • 24b · Other expenses: BANK FEES

    total $215 · management and general $215

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,936,349 · end of year $4,502,423

  • 4 · Accounts receivable

    beginning of year $100,000 · end of year $310,422

  • 7 · Other notes and loans receivable

    beginning of year $72,966 · end of year $20,932

  • 9 · Prepaid expenses and deferred charges

    beginning of year $49,866 · end of year $3,315

  • 17 · Accounts payable and accrued expenses

    beginning of year $166,663 · end of year $66,459

  • 25 · Other liabilities

    beginning of year $393,066 · end of year $519,002

  • 27 · Net assets without donor restrictions

    beginning of year $1,956,117 · end of year $1,769,325

  • 28 · Net assets with donor restrictions

    beginning of year $1,643,335 · end of year $2,482,306

Mission and programs · 2023

Mission

THE MISSION OF THE USHCC EDUCATIONAL FUND IS TO EDUCATE, TRAIN, BUILD CAPACITY, CONDUCT RESEARCH, PROVIDE LEADERSHIP DEVELOPMENT OPPORTUNITIES, EXPAND ACCESS TO CAPITAL, AND CREATE GRANT FUNDING FOR HISPANIC BUSINESSES THROUGH A NATIONAL NETWORK OF 250+ HISPANIC CHAMBERS OF COMMERCE.

Activities or mission (Part I)

TO PROVIDE EDUCATIONAL PROGRAMS FOR HISPANIC BUSINESS ACROSS THE US

  • AVANZAR ("TO ADVANCE" IN SPANISH) IS A SIX- TO EIGHT-MONTH BUSINESS ACCELERATOR PROGRAM DESIGNED TO TAKE HISPANIC BUSINESSES TO THE NEXT LEVEL WITH CURATED SKILLS BUILDING SESSIONS, RESOURCES, TOOLS, AND AN ACTION PLAN TO POSITION PARTICIPANTS FOR SUCCESS. AVANZAR PARTICIPANTS WILL COME AWAY WITH AN UPDATED BUSINESS PLAN, HOW BEST TO ACCESS CAPITAL FOR THEIR BUSINESS, AND WORKSHOPS AIMED TO STRENGTHEN OPERATIONS, MARKETING CAPABILITIES TO SUPPORT THEIR VISON OF SCALING THEIR BUSINESS.AVANZAR WAS LAUNCHED IN 2019 THANKS TO THE INVESTMENT AND PARTNERSHIP OF WELLS FARGO. SINCE 2019, AVANZAR HAS EXPANDED TO SUPPORT HISPANIC BUSINESSES IN ADDITIONAL CITIES AND REGIONS THANKS TO SUPPORT FROM USAA AND PHILIP MORRIS INTERNATIONAL WHO HAVE JOINED WELLS FARGO IN THE MISSION TO ADVANCE HISPANIC BUSINESSES READY TO GROW THEIR BUSINESS WITH AVANZAR.

    Expenses $207,064 · Grants $200,000

  • ELEVATE TOGETHER ELEVATE TOGETHER DIRECTLY SUPPORTS BLACK AND HISPANIC SMALL BUSINESS OWNERS WITH THE MISSION OF HELPING LOCAL ECONOMIES, FOSTERING JOB CREATION, AND HELPING TO CLOSE THE RACIAL WEALTH GAP. IN PARTNERSHIP WITH THE ODP CORPORATION AND ROUND IT UP AMERICA, THE INITIATIVE HELPS SUPPORT SMALL BUSINESSES WITH FIVE OR LESS EMPLOYEE THROUGH TECHNICAL ASSISTANCE GRANTS, PROGRAMS, AND MENTORSHIP.

    Expenses $906,115 · Grants $900,000

  • IN HER FOOTSTEPS IS A MOVEMENT TO HIGHLIGHT LATINA LEADERSHIP THROUGH PERSONAL STORIES OF TRIUMPH, INSPIRATION, AND RESILIENCE. THIS INITIATIVE LOOKS TO PROVIDE THE COMMUNITY WITH HELPFUL INFORMATION, RESOURCES, AND STRATEGIES TO SUPPORT ENTREPRENEURS AND EXECUTIVES THROUGH THE CONTRIBUTIONS OF LATINA LEADERS ACROSS ALL SECTORS.IN HER FOOTSTEPS WAS INITIALLY LAUNCHED IN 2018, THANKS TO THE PARTNERSHIP AND COMMUNITY INVESTMENTS OF BANK OF AMERICA TO DEVELOP A PODCAST TO FEATURE LATINA EXECUTIVES FROM ALL SECTORS TO SHARE WHAT IT'S LIKE TO FOLLOW IN HER FOOTSTEPS. THE PODCAST HAS SINCE BECOME A DIGITAL SERIES LAUNCHING LATER THIS YEAR AND WILL FEATURE 10 LATINA ENTREPRENEURS ON WHAT THEY HAVE LEARNED RUNNING AND GROWING A BUSINESS INCLUDING TOPICS SUCH AS ACCESS TO CAPITAL AND BALANCING THEIR FAMILY AND BUSINESS NEEDS. THE USHCC EDUCATIONAL FUND IS LOOKING TO EXPAND ITS PROGRAMMING TO ADDRESS OPPORTUNITIES TO UPLIFT LATINAS ACROSS ALL SECTORS AND DEVELOP A SPACE TO NURTURE AND SUPPORT THEIR JOURNEY.

    Expenses $24,708

  • THE USHCC GREEN BUILDS BUSINESS PROGRAM SEEKS TO OFFER HISPANIC BUSINESSES TO BECOME GREEN SUPPLIERS AND BEING PART OF THE SOLUTION TO TRANSFORM THE SUPPLY CHAIN WITH PROVEN GREEN BEST PRACTICES. PROGRAM PARTICIPANTS RECEIVE BUSINESS COACHING ON HOW TO IDENTIFY, DESIGN AND IMPLEMENT GREEN PROJECTS WITH AN AIM TO ACHIEVE A TRIPLE BOTTOM LINE OF RESULTS THAT LOWER COSTS, REDUCE ENVIRONMENTAL IMPACTS, AND SUPPORT THE WELLBEING OF COMMUNITIES.THIS PROGRAM WAS LAUNCHED WITH THE SUPPORT OF TOYOTA COMMITTED TO GREENING THE SUPPLY CHAIN AT THEIR ORGANIZATION AND BY INVESTING IN HISPANIC SUPPLIERS INTERESTED TO LEARN HOW TO INTEGRATE GREEN BEST PRACTICES INTO THEIR BUSINESS OPERATIONS.

    Expenses $8,018

  • OTHERS

    Expenses $376,752 · Grants $75,085

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

Listed in Part VII

  • ALICE RODRIGUEZ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • BETTY MANETTA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • CARLOS BECERRA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • DANIEL GALINDO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JACKIE PUENTE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JUAN CARLOS LISCANO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • KATHLEEN MARTINEZ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MONIKA MANTILLA

    CHAIRWOMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • NELSON REYNERI JR

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • RAMIRO A CAVAZOS

    PRESIDENT & CEO

    Total calculated
    $479,828
    From this org
    $0
    From related orgs
    $473,052
    Other
    $6,776
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $393,052 related
    Bonus
    $0 + $80,000 related
    Other
    $0
    Deferred
    $0 + $5,625 related
    Nontaxable benefits
    $0 + $1,151 related
    Filer's total
    $0 + $479,828 related

  • RAUL SALINAS

    GENERAL COUNSEL

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • ROSA SANTANA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • RUBEN BARRALES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • YAMMEL SANCHEZ-OCANA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • FELIPE UGALDE

    SECRETARY

    Total calculated
    $225,403
    From this org
    $0
    From related orgs
    $199,252
    Other
    $26,151
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $190,919 related
    Bonus
    $0 + $8,333 related
    Other
    $0
    Deferred
    $0 + $3,052 related
    Nontaxable benefits
    $0 + $23,099 related
    Filer's total
    $0 + $225,403 related

  • EVELYN BARAHONA

    SVP USHCC EDUCATIONAL FUND

    Total calculated
    $177,385
    From this org
    $0
    From related orgs
    $173,542
    Other
    $3,843
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $0 + $166,459 related
    Bonus
    $0 + $7,083 related
    Other
    $0
    Deferred
    $0 + $2,692 related
    Nontaxable benefits
    $0 + $1,151 related
    Filer's total
    $0 + $177,385 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 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 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

The 10 largest by cash amount. The API serves every itemized grant.

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
2023
Filed
24 October 2024
IRS schema version
2023v5.1
Source object
202432989349301858

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