Hawaii Community Reinvestment Corp
- Assets
- $4.1m
- Revenue
- $373.7k
- Investments
- $0.0
- Employees
- 2
- Location
- Honolulu, HI
- Founding
- 10/1995
- Data as of
- 12/2021
- EIN
- 99-0282148
Organization Overview
Hawaii Community Reinvestment Corp is located in Honolulu, HI. The organization was established in 1995. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Hawaii Community Reinvestment Corp employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hawaii Community Reinvestment Corp 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, Hawaii Community Reinvestment Corp generated $373.7k 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 (25.8%) each year. All expenses for the organization totaled $401.8k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Hawaii Community Reinvestment Corp has awarded 41 individual grants totaling $1,013,042. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE CORPORATION IS TO PROVIDE INNOVATIVE FINANCING, TRAINING, AND CONSULTING SERVICES TO PUBLIC AND PRIVATE ORGANIZATIONS WHO ENGAGE IN BUILDING LIVABLE COMMUNITIES IN HAWAII.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HCRC AND SUBSIDIARIES HAVE ASSISTED 3,508 AFFORDABLE RENTAL HOUSING UNITS WITH FUNDING OF 205.5 MILLION THROUGH ITS AFFORDABLE HOUSING LOAN PARTICIPATION PROGRAM, PROVIDED 7 BUSINESS LOANS TOTALING 3.6 MILLION THROUGH THE SBA 504 LOAN PROGRAM, PROVIDED 14 BUSINESS LOANS TOTALING 1,842,982.17 DIRECTLY TO NONPROFIT AND SMALL BUSINESSES, AND PROVIDED 203 ENERGY EFFICIENCY LOANS TOTALING 4.8 MILLION THROUGH THE DBEDT GREENSUN LOAN LOSS RESERVE PROGRAM. HCRC GRANTED 789,474 TO THE UNIVERSITY OF HAWAII FOUNDATION TO FUND AN ENDOWMENT TO ESTABLISH THE HAWAII COMMUNITY REINVESTMENT CORPORATION DISTINGUISHED PROFESSORSHIP IN AFFORDABLE HOUSING, ADMINISTERED A PASSTHROUGH GRANT IN THE AMOUNT OF 1,983,950 FOR HUD AND C&C HONOLULU TO A NONPROFIT FOR PRESERVATION OF AFFORDABLE HOUSING IN TOD DISTRICT, AND ADMINSTERED 153 PASSTHROUGH GRANTS TOTALING 1,833,759 FOR THE C&C HONOLULU MAYORS OFFICE OF CULTURE AND ARTS CARES ACT RECOVERY & RELIEF FUND PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heather Piper Executive Di | Officer | 45 | $156,738 |
Bryan Luke Chairman & S | OfficerTrustee | 1 | $0 |
Scott Hayashi Treasurer/di | OfficerTrustee | 1 | $0 |
Roy Katsuda Director | Trustee | 0.5 | $0 |
Amy Asselbaye Director | Trustee | 0.5 | $0 |
Darren Ueki Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $160,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $176,935 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $336,935 |
| Total Program Service Revenue | $33,281 |
| Investment income | $3,496 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $373,712 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $40,000 |
| 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. | $184,141 |
| Compensation of current officers, directors, key employees. | $30,990 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,646 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,771 |
| Payroll taxes | $13,111 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,149 |
| Fees for services: Accounting | $44,434 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,452 |
| Advertising and promotion | $0 |
| Office expenses | $6,602 |
| Information technology | $13,750 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,875 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,667 |
| Insurance | $2,666 |
| All other expenses | $0 |
| Total functional expenses | $401,768 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,173,681 |
| Savings and temporary cash investments | $1,533,424 |
| Pledges and grants receivable | $47,685 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $981,096 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,371 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $324,926 |
| Total assets | $4,069,183 |
| Accounts payable and accrued expenses | $34,657 |
| 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 | $946,836 |
| Total liabilities | $981,493 |
| Net assets without donor restrictions | $2,845,690 |
| Net assets with donor restrictions | $242,000 |
| 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 | $4,069,183 |
Grants Awarded
Over the last fiscal year, Hawaii Community Reinvestment Corp has awarded $1,013,042 in support to 41 organizations.
| Grant Recipient | Amount |
|---|---|
Honolulu, HI PURPOSE: SEE PART IV | $50,000 |
Honolulu, HI PURPOSE: SEE PART IV | $50,000 |
Honolulu, HI PURPOSE: SEE PART IV | $50,000 |
Honolulu, HI PURPOSE: SEE PART IV | $50,000 |
Honolulu, HI PURPOSE: SEE PART IV | $50,000 |
Haleiwa, HI PURPOSE: SEE PART IV | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Hawaii Community Reinvestment Corp has recieved totaling $520,750.
| Awarding Organization | Amount |
|---|---|
The Harry & Jeanette Weinberg Foundation Inc Owings Mills, MD PURPOSE: TO SUPPORT THIS CDFI THAT WILL BUILD CAPACITY FOR NONPROFITS IN HAWAII AND HELP ORGANIZATIONS BE RESILIENT TO THE IMPACTS OF COVID-19 THROUGH LOAN CAPITAL, TECHNICAL ASSISTANCE, AND OUTREACH TO NONPROFITS SERVING NATIVE HAWAIIANS. | $500,000 |
Atherton Family Foundation Honolulu, HI PURPOSE: HCRC RAPID REHOUSING FINANCING PROGRAM & COVID RECOVERY COMMUNITY DEVELOPMENT FINANCING INITIATIVES | $20,000 |
The Kl Felicitas Foundation San Jose, CA PURPOSE: GENERAL SUPPORT | $750 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Viamonte Senior Living San Francisco, CA | $242,110,392 | $7,634,323 |
Charles Apartments Housing Corporation Hayward, CA | $0 | $319,066 |
Satellite Affordable Housing Associates Berkeley, CA | $83,294,736 | $13,591,508 |
Rhf Foundation Long Beach, CA | $215,917,223 | $14,903,975 |
Midpen Resident Services Corporation Foster City, CA | $3,702,334 | $11,407,168 |
Bridge Property Management Company San Francisco, CA | $1,233,636 | $9,360,308 |
Burbank Housing Corporation Burbank, CA | $47,643,861 | $6,370,585 |
Habitat For Humanity San Fernando/Santa Clarita Valleys Woodland Hills, CA | $1 | $4,168,206 |
Satellite Aha Development Inc Berkeley, CA | $17,466,494 | $5,909,155 |
Housing Trust Silicon Valley San Jose, CA | $250,989,111 | $21,448,557 |
Western Community Housing Inc Costa Mesa, CA | $106,078,970 | $11,023,596 |
Housing Choices Coalition For Persons With Developmental Disabil Palo Alto, CA | $4,399,565 | $5,833,856 |