2023-11-15T18:36:15-07:00 2022-12-31 990 2022-01-01 811543325 YOUTH LEADERSHIP INCUBATOR INC YOUT 4159388088 447 King Ave Fremont CA 94536 Sanil Chawla Executive Director 5103979894 2023-11-15 1 1 11 0 AAL2 2022 2023-04-26 12:10:37Z HACKPLUS Sanil Chawla 447 King Ave Fremont CA 94536 547385 0 X https://hackplus.org X 2016 CA Youth Leadership Incubator Inc dba HackPlus provides infrastructure, resources, software, and guidance to young people passionate about creating a positive impact, both in their own communities and in society at large. 1 1 0 450 0 0 436797 547385 0 0 0 0 0 0 436797 547385 0 0 0 0 0 0 0 0 0 472151 328680 472151 328680 -35354 218705 42226 260931 0 0 42226 260931 Youth Leadership Incubator Inc dba HackPlus provides infrastructure, resources, software, and guidance to tens of thousands of young people passionate about creating a positive impact, both in their own communities and in society at large. 0 0 324600 0 547385 Event and org management program: we provide a legal and financial platform, as well as various support and training services, for student-run, not-for-profit events and organizations. In 2021, we facilitated over 100 events and over 25 charitable impact groups managed by high school and college students. Our long term goal is to provide a simple platform for students to launch not-for-profit events without facing significant start-up costs or operational barriers. 0 0 0 Startups platform: we provide educational/advisory support to student-run startups. We provide detailed information on the processes involved, and connect student founders to mentors that can support them. We also partner with software companies to provide free or discounted services to student startups. We continued the "beta" of the program in 2020 and supported 180 student founders. This program incurs zero costs for us so far and brings in zero revenue; our goal is to scale the program while keeping costs minimal so that student founders have an accessible hub of information and support when they launch startups. 0 0 0 324600 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 X 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X X Sanil Chawla 4159388088 447 King Ave Fremont CA 94536 X Sanil Chawla Executive Director 15 0 X X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 547385 0 547385 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 547385 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 17756 15875 1881 0 0 0 0 0 0 0 0 0 11257 9058 2199 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2879 2879 0 0 Program Expenses 293833 293833 0 0 Program Event Venue Fees 2955 2955 0 0 0 0 0 0 328680 324600 4080 0 42226 260931 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 42226 260931 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 42226 260931 0 0 42226 260931 42226 260931 218705 0 0 0 0 0 X 0 0 0 X 145865 281719 312097 436797 547385 1723863 0 0 0 0 0 0 0 0 0 0 0 0 145865 281719 312097 436797 547385 1723863 250000 1473863 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1723863 0 0.85498 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED Form 990, Part VI, Section B, Line 11b The 990 Form is reviewed by the governing director of the organization as well as by 2 senior volunteers of the organization prior to submission. Form 990, Part VI, Section B, Line 12c The governing director(s) are required to report any potential conflicts of interest to senior volunteers who manage the organization day-to-day. Similarly, senior volunteers must report potential conflicts of interest for themselves and all other volunteers to the governing directors. Reports are reviewed by a combination of 2 people between directors and senior volunteers, excluding the director/volunteer named in the report. Additionally, each senior volunteer and director must provide a written assurance clarifying any potential conflicts of interest two times per year. Form 990, Part VI, Section B, Line 15 The organization does not currently have any paid directors or employees. However, the organization has adopted clear written policies that will determine any future salaries for the Executive Director or any other paid employee. The board of governing directors will vote to review and set the salaries based on market/industry comparability data. Form 990, Part VI, Section C, Line 19 The governing documents, conflict-of-interest policy, and financial statements are available to the public upon request. Youth Leadership Incubator Inc. is requesting an abatement of late filing penalties due to reasonable cause and the specific circumstances of our organization. As a completely volunteer-run entity without full-time staff, Youth Leadership Incubator Inc has been cautious about incurring expenses that would diminish the funds available for providing infrastructure and software support to young people in running charitable causes and events to support their communities and benefit the public at large. To this end, we prioritized the use of our limited operational budget for our core activities over administrative expenses, including professional accounting services. Our intention was to wait until we had sufficient budgetary allowance to hire professional support, ensuring that our filings were completed with the accuracy and thoroughness that the scale of our operations demands. This cautious approach, while well-intentioned to maximize the utility of our resources for our mission, led to an unintended delay in the timely filing of our Form 990. We fully understand the importance of compliance with IRS regulations and did not intend for this delay to occur. It was never a case of willful neglect; rather, it was a deliberate decision to allocate our resources in a manner we believed was most responsible at the time. To rectify this situation and to prevent future occurrences, we have now allocated funds specifically for professional bookkeeping and accounting services. This action ensures that we will meet all future filing deadlines and maintain compliance with IRS requirements. Given these circumstances and in accordance with the Internal Revenue Manual (IRM) 20.1.1.3.2, we respectfully request that the IRS abate the penalties associated with our late filing. We believe that our situation meets the criteria for reasonable cause, and we have taken definitive steps to ensure ongoing compliance. We are committed to transparency and adherence to all filing regulations moving forward and kindly ask for the IRS's understanding and leniency in this matter. We are grateful for your consideration and are available to provide any additional information you may need.