Hawaiian Community Assets Inc
- Assets
- $1.9m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 63
- Location
- Honolulu, HI
- Founding
- 04/2002
- Data as of
- 09/2021
- EIN
- 99-0348767
Organization Overview
Hawaiian Community Assets Inc is located in Honolulu, HI. The organization was established in 2002. 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 09/2021, Hawaiian Community Assets Inc employed 63 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hawaiian Community Assets Inc 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 09/2021, Hawaiian Community Assets Inc generated $2.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $2.2m during the year ending 09/2021. While expenses have increased by 10.3% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE ORGANIZATION IS TO FOSTER THE DEVELOPMENT OF ECONOMIC OPPORTUNITIES FOR LOW AND MIDDLE INCOME FAMILIES AND PERSONS IN THE STATE OF HAWAII, INCLUDING NATIVE HAWAIIANS AND OTHERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE EDUCATION PROGRAMS OFFERING HOMEOWNERSHIP AND FINANCIAL LITERACY WORKSHOPS AS WELL AS COUNSELING FOR DEBT REDUCTION, CREDIT REPAIR AND SAVING FOR A DOWN PAYMENT AND CLOSING COSTS.
TO DEVELOP POLICY AND PRACTICE RECOMMENDATIONS TO INCREASE AFFORDABLE HOUSING STOCK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lahela Williams Former Executive Director | Officer | 39 | $80,000 |
Jeff Gilbreath Interim Executive Director | Officer | 17 | $77,083 |
Delene Osorio Treasurer | OfficerTrustee | 1 | $0 |
Noelle Kai President | OfficerTrustee | 1 | $0 |
Desiree Vea Director | Trustee | 1 | $0 |
Kui Meyer Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $125,000 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,031,498 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,044,872 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,201,370 |
| Total Program Service Revenue | $359,795 |
| Investment income | $457 |
| 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 | $2,561,622 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $72,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $75,171 |
| Compensation of current officers, directors, key employees. | $37,079 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $912,722 |
| Pension plan accruals and contributions | $2,359 |
| Other employee benefits | $97,004 |
| Payroll taxes | $84,659 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $60,445 |
| Fees for services: Accounting | $70,102 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $491,885 |
| Advertising and promotion | $5,391 |
| Office expenses | $56,308 |
| Information technology | $51,630 |
| Royalties | $0 |
| Occupancy | $158,280 |
| Travel | $1,309 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,671 |
| Interest | $31,206 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,390 |
| Insurance | $32,632 |
| All other expenses | $7,032 |
| Total functional expenses | $2,248,196 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $825,424 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $203,122 |
| Accounts receivable, net | $34,494 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $247,078 |
| Inventories for sale or use | $56,512 |
| Prepaid expenses and deferred charges | $10,120 |
| Net Land, buildings, and equipment | $503,264 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,277 |
| Total assets | $1,886,291 |
| Accounts payable and accrued expenses | $122,717 |
| 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 | $403,714 |
| Unsecured mortgages and notes payable | $305,662 |
| Other liabilities | $0 |
| Total liabilities | $832,093 |
| Net assets without donor restrictions | $530,774 |
| Net assets with donor restrictions | $523,424 |
| 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 | $1,886,291 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that Hawaiian Community Assets Inc has recieved totaling $1,170,488.
| Awarding Organization | Amount |
|---|---|
Rural Community Assistance West Sacramento, CA PURPOSE: Housing Counseling | $238,379 |
Kresge Foundation Troy, MI PURPOSE: TO INCREASE THE CAPACITY OF AFFORDABLE HAWAII FOR ALL FELLOWS TO LEAD EFFORTS AT BOTH THE POLICY AND PRACTICE LEVEL TO FOSTER CHANGE IN THE LOCAL HOUSING MARKET, RESULTING IN MORE AFFORDABLE HOMES AND COMMUNITIES. | $200,000 |
The Harry & Jeanette Weinberg Foundation Inc Owings Mills, MD PURPOSE: TO SUPPORT A TECHNOLOGY PLATFORM THAT WILL PROVIDE RESPONSIVE, CULTURALLY APPROPRIATE FINANCIAL COACHING TO LOW- INCOME, UNDERBANKED AND UNBANKED NATIVE HAWAIIAN AND RURAL COMMUNITIES. | $150,000 |
Hmsa Foundation Honolulu, HI PURPOSE: BUILD THE CAPACITY OF LOW- AND MODERATE-INCOME COMMUNITIES TO ACHIEVE AND SUSTAIN ECONOMIC SELF-SUFFICIENCY WITH A PARTICULAR FOCUS ON NATIVE HAWAIIANS THROUGH MORTGAGE LENDING PROGRAMS; MICRO-LOANS, HOMEOWNERSHIP ASSET BUILDING, AND FINANCIAL EDUCATION; AND TRAINING FOR TRANSITIONAL HOUSING AND COMMUNITY BASED ORGANIZATIONS EDUCATION AND FINANCIAL INSTITUTIONS AND GOVERNMENT ENTITIES. | $130,000 |
Aloha United Way Inc Honolulu, HI PURPOSE: GENERAL OPERATING GRANT | $125,599 |
Harold K L Castle Foundation Kailua, HI PURPOSE: WINDWARD OAHU HOMEOWNER UTILITY ASSISTANCE FUND [5436; PC] | $121,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Sacramento Neighborhood Housing Services Inc Sacramento, CA | $15,952,638 | $2,503,371 |