Hispanic Information & Telecommunications Network Inc
- Assets
- $92.8m
- Revenue
- $7.0m
- Investments
- $0.0
- Employees
- 62
- Location
- Brooklyn, NY
- Founding
- 07/1982
- Data as of
- 12/2021
- EIN
- 13-3112110
Organization Overview
Hispanic Information & Telecommunications Network Inc is located in Brooklyn, NY. The organization was established in 1982. According to its NTEE Classification (W50) the organization is classified as: Telecommunications, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Hispanic Information & Telecommunications Network Inc employed 62 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hispanic Information & Telecommunications Network Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Hispanic Information & Telecommunications Network Inc generated $7.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (12.7%) each year. All expenses for the organization totaled $16.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE THE EDUCATIONAL, CULTURAL & SOCIO-ECONOMIC ASPIRATIONS OF U.S. HISPANICS.
Describe the Organization's Program Activity:
HISPANIC INFORMATION AND TELECOMMUNICATIONS NETWORK (HITN) IS THE FIRST SPANISH PUBLIC SERVICE MEDIA NETWORK. ESTABLISHED IN 1983 AS A NON-PROFIT ORGANIZATION WITH A MISSION TO ADVANCE THE EDUCATIONAL, CULTURAL, AND SOCIO-ECONOMIC ASPIRATIONS OF ITS VIEWERS IN THE U.S. AND PUERTO RICO. NO OTHER HISPANIC FOCUSED ORGANIZATION COMBINES THE UNIQUE ABILITY TO REACH THIS GROWING POPULATION THROUGH A MULTIMEDIA COMBINATION OF TV BROADCASTING, THE INTERNET, AND COMMUNITY BASED INITIATIVES. HITN IS ALSO THE LARGEST HOLDER OF EBS SPECTRUM IN THE UNITED STATES.
HITN LEARNING - THE PROGRAM SUPPORTS THE DEVELOPMENT OF EDUCATIONAL RESOURCES IN PRINT DIGITAL MEDIA TARGETED AT HISPANIC PRESCHOOL AND EARLY ELEMENTARY SCHOOL CHILDREN AND THEIR FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael D Nieves Ceo/board Member | OfficerTrustee | 40 | $543,830 |
Kennedy Paul COO & CFO | Officer | 40 | $390,214 |
Jonathan Guerra General Counsel | Officer | 40 | $349,413 |
Maryann R Marrapodi Chief Learning & Dev. Officer | Officer | 40 | $264,138 |
Guillermo Sierra Head Of Television & Digital | 40 | $222,116 | |
Eric D Turpin General Manager, Hitn-Tv | 40 | $161,823 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Xperteks Computer Consultancy Inc It Consultant | 12/30/21 | $220,188 |
Stroock & Stroock & Lavan Llp Legal | 12/30/21 | $578,241 |
Funding Connection Inc Grant Writing/development | 12/30/21 | $148,800 |
Taiger Communications Production Services | 12/30/21 | $164,166 |
Dicapta Editing Services | 12/30/21 | $148,950 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,245,270 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,185 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,246,455 |
| Total Program Service Revenue | $4,756,401 |
| Investment income | $153,997 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $255,423 |
| Net Gain/Loss on Asset Sales | $333,833 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,004,731 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,552,508 |
| Compensation of current officers, directors, key employees. | $455,575 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,905,337 |
| Pension plan accruals and contributions | $442,430 |
| Other employee benefits | $961,231 |
| Payroll taxes | $568,277 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $638,695 |
| Fees for services: Accounting | $126,715 |
| Fees for services: Lobbying | $22,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $53,866 |
| Fees for services: Other | $1,422,049 |
| Advertising and promotion | $270,761 |
| Office expenses | $124,637 |
| Information technology | $436,503 |
| Royalties | $0 |
| Occupancy | $1,198,995 |
| Travel | $294,683 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,608 |
| Interest | $16,332 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $516,695 |
| Insurance | $135,852 |
| All other expenses | $562,588 |
| Total functional expenses | $16,207,749 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,250 |
| Savings and temporary cash investments | $1,202,380 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $791,617 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $136,981 |
| Prepaid expenses and deferred charges | $3,133,892 |
| Net Land, buildings, and equipment | $3,820,833 |
| Investments—publicly traded securities | $8,453,940 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,700,000 |
| Other assets | $73,545,777 |
| Total assets | $92,790,670 |
| Accounts payable and accrued expenses | $3,035,855 |
| Grants payable | $10,000 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,032,394 |
| Total liabilities | $4,078,249 |
| Net assets without donor restrictions | $88,712,421 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $92,790,670 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hispanic Information & Telecommunications Network Inc has recieved totaling $400,000.
| Awarding Organization | Amount |
|---|---|
Robin Hood Foundation New York, NY PURPOSE: POVERTY RELIEF | $400,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hispanic Information & Telecommunications Network Inc Brooklyn, NY | $92,790,670 | $7,004,731 |
Keystone Initiative For Network Based Education & Research Lititz, PA | $86,518,752 | $6,204,433 |
Centralcast Llc Troy, NY | $8,328,344 | $3,739,153 |
Thermostat Recycling Corporation New York, NY | $2,265,895 | $2,889,740 |
Cambridge Public Access Corporation Inc Cambridge, MA | $3,099,418 | $1,284,087 |
City Limits News Inc New York, NY | $510,252 | $701,662 |
Natick Pegasus Inc Natick, MA | $3,359,271 | $910,322 |
Leominster Telecommunications Corp Inc Leominster, MA | $1,740,799 | $606,108 |
Marshfield Community Television Inc Marshfield, MA | $859,024 | $514,733 |
Danvers Community Access Television Incorporated Danvers, MA | $1,567,302 | $583,808 |
Skye Cable Xiii Inc Waterbury, CT | $132,403 | $297,687 |
Sterling - Lancaster Community Television Corporation Sterling, MA | $869,759 | $324,122 |