Maui Economic Development Board Inc Medb
- Assets
- $10.6m
- Revenue
- $7.7m
- Investments
- $0.0
- Employees
- 26
- Location
- Kihei, HI
- Founding
- 03/1984
- Data as of
- 06/2021
- EIN
- 99-0226377
Organization Overview
Maui Economic Development Board Inc Medb is located in Kihei, HI. The organization was established in 1984. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Maui Economic Development Board Inc Medb employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maui Economic Development Board Inc Medb 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 06/2021, Maui Economic Development Board Inc Medb generated $7.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $7.7m during the year ending 06/2021. While expenses have increased by 12.5% per year over the past 6 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LEADERSHIP AND VISION IN OUR COMMUNITY FOR THE RESPONSIBLE DESIGN AND DEVELOPMENT OF A STRONG SUSTAINABLE, AND DIVERSIFIED ECONOMY FOR MAUI COUNTY.
Describe the Organization's Program Activity:
WORKFORCE DEVELOPMENT: THE WOMEN IN TECHNOLOGY (WIT) PROGRAM IS FOCUSED ON STRENGTHENING THE EDUCATION PIPELINE BY ENGAGING GIRLS, WOMEN AND TRADITIONALLY UNDERREPRESENTED GROUPS IN SCIENCE AND TECHNOLOGY, ENGINEERING AND MATH ACTIVITIES AND CAREER PATHWAYS TO CREATE THE FUTURE WORKFORCE. WIT'S INNOVATIVE APPROACHES IN SERVICE-BASED LEARNING, INTERNSHIPS, MENTORING AND JOB-SHADOWING COUPLED WITH REGULAR PROFESSIONAL DEVELOPMENT, RECRUITMENT AND TECHNICAL ASSISTANCE SERVES OVER 30,000 STUDENTS, EDUCATORS AND BUSINESSES STATEWIDE.
BUSINESS DEVELOPMENT/OUTREACH: THE ORGANIZATION TARGETS AND ASSISTS EXISTING AND EMERGING BUSINESSES IN ASTRONOMY/OPTICS, INFORMATION SYSTEMS, HEALTH CARE, RENEWABLE ENERGY AND AGRI-TECHNOLOGY. THESE SECTORS ALL BENEFIT FROM MAUI COUNTY'S NATURAL AND MAN-MADE ASSETS AND GENERATE ACTIVITIES THAT OFFER NEW CAREER OPTIONS FOR RESIDENTS. BUSINESS DEVELOPMENT STRATEGIES INCLUDE ONE-ON-ONE CONSULTATIONS, TECHNICAL CONFERENCES, PUBLIC RELATIONS AND AWARENESS TOOLS AND EXHIBITIONS.
CIVIC ENGAGEMENT AND EDUCATION: THE ORGANIZATION WORKS TO ENGAGE MAUI RESIDENTS IN DECISIONS ABOUT MAUI'S ECONOMY. WORKING WITH ADULTS AND YOUTHS, THIS PROGRAM LAYS THE FOUNDATION FOR A HEALTHY ECONOMY BY EQUIPPING OUR RESIDENTS WITH THE RESOURCES AND SKILLS TO TAKE ACTION TO MAKE SOUND DECISIONS ABOUT THEIR LIVES, COMMUNITY AND THE ECONOMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leslie Wilkins President & CEO | OfficerTrustee | 40 | $143,308 |
Mike Maberry Secretary | OfficerTrustee | 0 | $0 |
Tiare Martin Treasurer | OfficerTrustee | 0 | $0 |
Saedene Ota Vice Chair | OfficerTrustee | 0 | $0 |
Grant Chun Chair | OfficerTrustee | 0 | $0 |
Dwayne Betsill Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $72,300 |
| Fundraising events | $107,142 |
| Related organizations | $0 |
| Government grants | $6,651,869 |
| All other contributions, gifts, grants, and similar amounts not included above | $371,512 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,202,823 |
| Total Program Service Revenue | $169,368 |
| Investment income | $4,473 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$87,922 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $11,857 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,742,311 |
| 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. | $154,286 |
| Compensation of current officers, directors, key employees. | $55,112 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,022,068 |
| Pension plan accruals and contributions | $50,474 |
| Other employee benefits | $177,763 |
| Payroll taxes | $94,788 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $654,069 |
| Advertising and promotion | $4,981,122 |
| Office expenses | $212,070 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $67,690 |
| Travel | $13,619 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,321 |
| Insurance | $17,823 |
| All other expenses | $0 |
| Total functional expenses | $7,749,603 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,663,959 |
| Savings and temporary cash investments | $900,097 |
| Pledges and grants receivable | $723,508 |
| Accounts receivable, net | $143,229 |
| 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 | $77,289 |
| Net Land, buildings, and equipment | $6,855,887 |
| Investments—publicly traded securities | $172,118 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $113,275 |
| Total assets | $10,649,362 |
| Accounts payable and accrued expenses | $411,042 |
| Grants payable | $0 |
| Deferred revenue | $717,470 |
| 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 | $5,209,914 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $37,670 |
| Total liabilities | $6,376,096 |
| Net assets without donor restrictions | $4,013,652 |
| Net assets with donor restrictions | $259,614 |
| 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 | $10,649,362 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Maui Economic Development Board Inc Medb has recieved totaling $135,455.
| Awarding Organization | Amount |
|---|---|
National Association For Latino Community Asset Builders San Antonio, TX PURPOSE: Small Business | $50,000 |
Organization Name not Listed PURPOSE: MEDB KE ALAHELE EDUCATION FUND (STEM PROGRAM) | | $25,000 |
Organization Name not Listed PURPOSE: MEDB KE ALAHELE EDUCATION FUND (STEM PROGRAM) | | $25,000 |
Code Org Seattle, WA PURPOSE: GRANTEE TO PROVIDE PROFESSIONAL DEVELOPMENT AND COMMUNITY BUILDING FOR K-12 TEACHERS USING THE CODE.ORG CURRICULUM AND PROFESSIONAL DEVELOPMENT MODEL. FUNDING 2021-2022 CODE.ORG COMPUTER SCIENCE DISCOVERIES (CSD), COMPUTER SCIENCE PRINCIPLES (CSP) AND ADMIN/COUNSELOR WORKSHOPS. | $21,000 |
First Insurance Company Of Hawaii Charitable Foundation Honolulu, HI PURPOSE: SUPPORT GENERAL FUND | $6,000 |
Fred Baldwin Memorial Foundation Honolulu, HI PURPOSE: TECHNOLOGY TOOLS FOR STUDENT INTERNS AND PROJECT-BASED LEARNING EDUCATION | $4,950 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
San Francisco Travel Association San Francisco, CA | $17,687,275 | $15,738,684 |
Citadel Economic Development Corporation San Bernardino, CA | $7,215,242 | $16,438,545 |
Long Beach Area Convention And Visitors Bureau Inc Long Beach, CA | $4,784,571 | $9,189,036 |
San Luis Obispo Visitors & Conference Bureau Incorporated San Luis Obispo, CA | $7,302,521 | $9,818,447 |
Smcu Community Fund Redwood City, CA | $1,513,371 | $6,964,137 |
Maui Economic Development Board Inc Medb Kihei, HI | $10,649,362 | $7,742,311 |
Santa Monica Travel & Tourism Santa Monica, CA | $2,868,308 | $7,126,411 |
Providence Foundation Of San Francisco San Francisco, CA | $2,572,916 | $7,012,697 |
La Cocina Inc San Francisco, CA | $10,601,250 | $8,307,558 |
Visit Napa Valley Inc Napa, CA | $10,680,406 | $9,057,176 |
Northern California Indian Development Council Inc Eureka, CA | $9,408,932 | $5,019,094 |
Greater Sacramento Area Economic Council Sacramento, CA | $15,768,585 | $3,467,560 |