2026-09-14T17:37:18-05:00 2024-09-30 752393478 WHITLEY PENN LLP 640 TAYLOR STREET SUITE 2200 FT WORTH TX 76102 990 2023-10-01 752047644 MIDLAND HISPANIC CHAMBER OF COMMERCE INC MIDL 4327045533 208 S MARIENFIELD ST 101 MIDLAND TX 79701 YISBET SEGREA CHAIR OF FINANCE 4327045533 2026-09-14 1 1 EMILY LANDRY P01614538 8172599100 2023 YISBET SEGREA 208 S MARIENFIELD ST 101 MIDLAND TX 79701 367624 0 X WWW.MIDLANDHCC.COM X 1984 TX TO UNITE MIDLAND BUSINESSES AND PROFESSIONALS UNDER ONE ORGANIZATION, DIRECTED BY THE LEADERSHIP AND GUIDANCE OF AN ELECTED POLICYMAKING BOARD OF DIRECTORS. 14 14 3 50 0 0 385778 257990 0 10231 10000 0 0 -55386 395778 212835 2500 2000 1800 0 73754 129246 0 0 0 295931 87343 373985 218589 21793 -5754 118609 105839 0 2244 118609 103595 TO PROMOTE THE GROWTH AND PROSPERITY OF SMALL BUSINESSES AND THE COMMUNITY OF MIDLAND, TEXAS. 0 0 ECONOMIC DEVELOPMENT PROGRAMS MANAGED BY THE CHAMBER INCLUDE THE INCUBATOR PROGRAM, STEP UP TO SUCCESS, WOMEN'S ROUNDTABLE, AND OTHER PROGRAMS AND EVENTS GEARED TOWARDS THE PROMOTION OF SMALL BUSINESSES AND ECONOMIC GROWTH IN MIDLAND. MARKETING PROGRAMS INCLUDE PROMOTIONAL PROGRAMS TO INCREASE THE NUMBER OF VISITORS AND TOURISM FOR MIDLAND. 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2 0 1 3 1 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 X X MIDLAND HISPANIC CHAMBER OF COMMERCE 4327045533 208 S MARIENFIELD ST 101 MIDLAND TX 79701 X SAMANTHA HUGHES CHAIR 2.00 X X 0 0 0 MARISSA SALGADO CHAIR-ELECT 2.00 X X 0 0 0 KEVIN BARTON VC FINANCE 2.00 X X 0 0 0 SARAH STREDIC VC ECONOMIC DEVELOPMENT 2.00 X X 0 0 0 CAROL GARZA VC MARKETING 2.00 X X 0 0 0 VERONICA REYES VC EDUCATION 2.00 X X 0 0 0 BO ZERTUCHE VC LEGISLATIVE AFFAIRS 2.00 X X 0 0 0 ERICA THOMAS SECRETARY 2.00 X X 0 0 0 ANTHONY NIETO PARLIAMENTARIAN 2.00 X X 0 0 0 GILBERT RENDON DIRECTOR 2.00 X 0 0 0 CORBETTE PADILLA DIRECTOR 2.00 X 0 0 0 MICHELLE CARRASCO DIRECTOR 2.00 X 0 0 0 MARCOS LUNA DIRECTOR 2.00 X 0 0 0 SHELLY VARGAS DIRECTOR 2.00 X 0 0 0 0 0 0 0 0 0 0 0 81727 149490 26773 257990 ECONOMIC DEVELOPMENT 900099 10231 10231 10231 96466 149490 154789 -58323 -58323 337 0 337 337 EXCISE TAX REFUND 900099 2600 2600 2600 212835 12831 0 -57986 2000 118024 11222 11379 33830 11074 9849 410 1921 5620 MEMBERSHIP EXPENSES 5485 BOARD EXPENSES 2562 ECONOMIC DEVELOPMENT 1839 COMMUNITY OUTREACH 1667 1707 218589 115449 104600 100037 98798 3160 1239 118609 105839 0 2244 0 2244 X 118609 103595 118609 103595 118609 105839 -5754 -9260 0 X 0 0 0 71216 71216 0 28821 27582 1239 1239 HISPANIC HERITAGE 171085 78000 93085 27594 26676 58026 312 GALA EVENT 50990 50990 6500 10632 2 23881 20500 3381 25049 245956 149490 96466 27594 26676 64526 35993 154789 -58323 FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PROVIDED TO THE EXECUTIVE DIRECTOR TO DISTRIBUTE TO BOARD MEMBERS TO REVIEW AND APPROVE AT THEIR NEXT REGULARLY SCHEDULED MEETING. FORM 990, PART VI, SECTION B, LINE 12C UPON THEIR ELECTION TO THE BOARD, THE DIRECTORS COMPLETE A CONFLICT OF INTEREST STATEMENT. POTENTIAL CONFLICTS ARE MONITORED BY BOARD OFFICERS AND EXECUTIVE MANAGEMENT THROUGHOUT THE YEAR AND ANY ACTION ITEMS REQUIRED TO BE VOTED UPON BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE BOARD OFFICERS NORMALLY CONDUCT AN ANNUAL EVALUATION OF THE CEO AND USE COMPENSATION FROM COMPARABLE LOCAL SOURCES TO DETERMINE SALARY WITHIN BUDGET PARAMETERS OF THE CHAMBER. NO REVIEW WAS DONE FOR THIS FISCAL YEAR. FORM 990, PART VI, SECTION C, LINE 19 NO OTHER DOCUMENTS AVAILABLE TO THE PUBLIC. THIS RESPONSE IS AN ATTACHMENT TO THE 2023 FORM 990 FOR MIDLAND HISPANIC CHAMBER OF COMMERCE INC (EIN 75-2047644) FOR THE YEAR ENDING SEPTEMBER 30, 2024. THE CHAMBER ENGAGED AN OUTSIDE BOOKKEEPING COMPANY WITH CERTIFIED PUBLIC ACCOUNTANTS ON STAFF. THE CHAMBER RELIED IN GOOD FAITH UPON THIS FIRM'S PROFESSIONAL KNOWLEDGE, FIDUCIARY OBLIGATIONS, AND ETHICAL DUTY TO ENSURE THAT ALL REQUIRED FEDERAL FILINGS WERE COMPLETED ACCURATELY AND ON TIME.DURING THE SAME PERIOD, THE CHAMBER EXPERIENCED SIGNIFICANT LEADERSHIP INSTABILITY WHICH RESULTED IN THE NEW LEADERSHIP REALIZING THAT THE FEDERAL TAX FILING FOR THE 2023 FORM 990 WAS NOT TIMELY FILED. THE NEW LEADERSHIP HAD TO REBUILD FINANCIAL RECORDS DUE TO THE OUTSIDE BOOKKEEPING COMPANY'S INABILITY TO FULFILL THEIR PROFESSIONAL OBLIGATION AS DOCUMENTED THROUGH AN ENGAGEMENT LETTER.THE CURRENT BOARD OF DIRECTORS ACCEPTS RESPONSIBILITY FOR CORRECTING THESE INHERITED DEFICIENCIES AND HAS TAKEN DECISIVE ACTION TO ENSURE THESE CIRCUMSTANCES WILL NOT RECUR. SPECIFICALLY, MHCC HAS: ENGAGED A HIGHLY RESPECTED AND QUALIFIED INDEPENDENT CPA FIRM TO OVERSEE THE CHAMBER'S ACCOUNTING AND TAX COMPLIANCE. RETAINED A NEW PROFESSIONAL BOOKKEEPING COMPANY TO MAINTAIN ACCURATE AND TIMELY FINANCIAL RECORDS. IMPLEMENTED STRONGER FINANCIAL OVERSIGHT BY THE BOARD OF DIRECTORS, WITH SUBSTANTIALLY GREATER INVOLVEMENT IN THE CHAMBER'S DAY-TO-DAY FINANCIAL GOVERNANCE. ADOPTED IMPROVED INTERNAL CONTROLS, POLICIES, PROCEDURES, AND ACCOUNTABILITY MEASURES DESIGNED TO ENSURE TIMELY COMPLIANCE WITH ALL FEDERAL REPORTING REQUIREMENTS. INITIATED THE SEARCH FOR AN EXPERIENCED, HIGHLY QUALIFIED CHIEF EXECUTIVE OFFICER WITH DEMONSTRATED NONPROFIT LEADERSHIP AND MANAGEMENT EXPERIENCE TO PROVIDE THE EXECUTIVE OVERSIGHT NECESSARY FOR THE ORGANIZATION MOVING FORWARD.THE MIDLAND HISPANIC CHAMBER OF COMMERCE DID NOT INTENTIONALLY FAIL TO COMPLY WITH ITS FEDERAL FILING OBLIGATIONS. RATHER, THE ORGANIZATION RELIED IN GOOD FAITH ON PROFESSIONALS AND LEADERSHIP IT BELIEVED WERE FULFILLING THEIR CONTRACTUAL, FIDUCIARY, AND ETHICAL RESPONSIBILITIES. ONCE THE BOARD BECAME AWARE OF THESE DEFICIENCIES, IMMEDIATE CORRECTIVE MEASURES WERE IMPLEMENTED TO RESTORE COMPLIANCE AND STRENGTHEN GOVERNANCE. THE CHAMBER FILED THE RETURN VIA PAPER FILING WHEN THE TAX SOFTWARE WAS UNABLE TO ELECTRONICALLY FILE. THEY ARE FILING WITH ELECTRONIC FILING IN SEPTEMBER 2026 WITH E-FILE OPEN.AS A NONPROFIT ORGANIZATION WHOSE MISSION IS TO PROMOTE ECONOMIC DEVELOPMENT, SUPPORT SMALL BUSINESSES, AND SERVE THE MIDLAND COMMUNITY, EVERY DOLLAR SPENT ON PENALTIES AND INTEREST IS A DOLLAR THAT CANNOT BE INVESTED BACK INTO THE PROGRAMS AND SERVICES THAT BENEFIT OUR MEMBERS AND THE PUBLIC. WAIVING THESE PENALTIES AND INTEREST WOULD ALLOW THE CHAMBER TO CONTINUE REBUILDING ITS FINANCIAL STABILITY WHILE FOCUSING ITS LIMITED RESOURCES ON FULFILLING ITS CHARITABLE AND COMMUNITY MISSION.THE PENALTIES FOR FAILURE TO FILE TIMELY IMPOSE A SIGNIFICANT IMPEDIMENT ON THE ABILITY OF THE CHAMBER TO MEET OUR MISSION AS A 501(C)(6) TAXPAYER. AS WE ARE EXEMPT FROM FEDERAL INCOME TAXES, AND THE GOVERNMENT WAS NOT HARMED BY THE FAILURE TO TIMELY FILE THE RETURN, WE RESPECTFULLY REQUEST THAT THE PENALTIES AND RELATED INTEREST BE ABATED BY THE IRS.