Hack Foundation
- Assets
- $3.0m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 25
- Location
- West Hollywood, CA
- Founding
- 12/2016
- Data as of
- 12/2021
- EIN
- 81-2908499
Organization Overview
Hack Foundation, operating under the name Hack Club, is located in West Hollywood, CA. The organization was established in 2016. According to its NTEE Classification (U41) the organization is classified as: Computer Science, under the broad grouping of Science & Technology and related organizations. As of 12/2021, Hack Club employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hack Club 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, Hack Club generated $3.0m in total revenue. All expenses for the organization totaled $1.7m during the year ending 12/2021. While expenses have increased by 71.4% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE SPECIFIC PURPOSE OF THE HACK FOUNDATION IS TO INSTRUCT OR TRAIN INDIVIDUALS FOR THE PURPOSE OF IMPROVING THEIR CAPABILITIES IN CODING AND STEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HACK CLUB'S PRIMARY PROGRAMS CONSIST OF THE FOLLOWING: ENGAGEMENT OF TEEN HACK CLUBBERS - A GLOBAL NONPROFIT NETWORK OF HIGH SCHOOL CODING CLUBS WHERE MEMBERS CREATE A SUPPORTIVE COMMUNITY WHILE LEARNING TO CODE THROUGH TINKERING AND BUILDING PROJECTS. THROUGH THIS PROGRAM, THEY WORK WITH AND GUIDE STUDENT-LED CLUBS AND HACKATHONS. FISCAL SPONSORSHIPS - HACK CLUB SUPPORTS LOCAL CLUBS, EDUCATIONAL HACKATHONS AND NON-CODING GROUPS THAT WANT TO SERVE THEIR COMMUNITY AS A NONPROFIT, BUT HAVE NOT ESTABLISHED THEIR OWN TAX-EXEMPT STATUS. HACK CLUB'S FISCAL SPONSORSHIP PROGRAM IS BUILT AROUND CUSTOM IN-HOUSE SOFTWARE THAT PROVIDES A SIMPLE USER EXPERIENCE WHILE MAINTAINING THE NECESSARY FINANCIAL CONTROLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christina Asquith Board Member | Officer | 40 | $160,000 |
Zachary Latta President/e. | Officer | 40 | $78,000 |
Thomas Preston-Werner Secretary | Trustee | 1 | $0 |
Samuel Quinn Slack Treasurer | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,901,439 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,901,439 |
| Total Program Service Revenue | $38,661 |
| Investment income | $2,907 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $67,510 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,041,120 |
| 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. | $278,044 |
| Compensation of current officers, directors, key employees. | $14,315 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $272,601 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,379 |
| Payroll taxes | $34,196 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,555 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $412,258 |
| Advertising and promotion | $14,396 |
| Office expenses | $30,220 |
| Information technology | $94,952 |
| Royalties | $0 |
| Occupancy | $46,407 |
| Travel | $14,536 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $34,014 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,643 |
| All other expenses | $0 |
| Total functional expenses | $1,711,023 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,899,500 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,475 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $131,727 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,032,702 |
| Accounts payable and accrued expenses | $11,400 |
| Grants payable | $0 |
| 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 | $487,360 |
| Total liabilities | $498,760 |
| Net assets without donor restrictions | $2,533,942 |
| 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 | $3,032,702 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that Hack Foundation has recieved totaling $940,141.
| Awarding Organization | Amount |
|---|---|
Preston-Werner Foundation Palo Alto, CA PURPOSE: GENERAL SUPPORT | $500,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $177,137 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $75,000 |
Danhakl Fam Foundation Los Angeles, CA PURPOSE: EDUCATION | $75,000 |
Donors Trust Inc Alexandria, VA PURPOSE: for general operations | $35,000 |
Mercatus Center Inc Arlington, VA PURPOSE: Research Grants | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Partnership On Ai To Benefit People And Society San Francisco, CA | $11,337,057 | $6,018,330 |
Machine Intelligence Research Institute Inc Berkeley, CA | $29,660,816 | $25,558,423 |
International Computer Science Institute Berkeley, CA | $14,202,562 | $6,417,874 |
East Asian Observatory Hilo, HI | $9,717,186 | $4,392,710 |
Meedan Inc San Francisco, CA | $3,162,332 | $5,379,293 |
Code For Science And Society Inc Portland, OR | $4,762,095 | $5,815,149 |
Organization For Educational Technology And Curriculum Salem, OR | $19,424,020 | $7,330,105 |
Computer Using Educators Inc San Francisco, CA | $1,715,707 | $2,024,124 |
United States Information Technology Office Inc Campbell, CA | $3,525,593 | $1,630,625 |
Hack Foundation West Hollywood, CA | $3,032,702 | $3,041,120 |
Python Software Foundation Beaverton, OR | $4,902,663 | $2,311,080 |
Openfog Consortium Inc Fremont, CA | $1,296,747 | $1,683,783 |