Hitec Foundation

Analysis

Hitec Foundation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in April 2012, 14 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hitec Foundation reported income of $355k and spending of $275k, leaving 22% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $447k to $355k (-21%), an average of -5.6% a year. The sharpest change came in the year to December 2022, when income rose by 86%. Over the whole period it spent 70% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hitec Foundation sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 65th percentile within IL. Charities of a similar size with the same main cause include Taiwanese American Scholarship Fund ($355k), Highland High School Cheer Booster ($355k) and Missouri Evergreen ($355k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $630k against liabilities of $32k, net assets of $598k.