Form 990 for tax year 2022
Filed by MAUI ECONOMIC DEVELOPMENT BOARD INC MEDB.
Totals
- Total revenue
- $6,751,092
- Total expenses
- $5,668,592
- Contributions and grants received
- $5,402,082
- Grants paid
- $12,000
- Program service revenue
- $1,195,252
- Investment income
- $10,477
- Other revenue
- $143,281
- Total assets, end of year
- $12,120,139
- Total liabilities, end of year
- $6,805,576
- Net assets or fund balances, end of year
- $5,314,563
- Program services expenses (Part IX)
- $5,490,356
- Management and general expenses
- $162,631
- Fundraising expenses
- $15,605
- Program service expenses (Part III)
- $5,490,356
Program services were 96.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1b · Membership dues
$76,100
-
1c · Fundraising events
$69,564
-
1e · Government grants (contributions)
$2,158,557
-
1f · All other contributions, gifts and grants
$3,097,861
-
1g · Noncash contributions included above
$1,515
-
2a · Program service revenue: CONFERENCE FEES COLLEC
total $1,195,252 · related or exempt $1,195,252
-
3 · Investment income
total $10,477 · excluded $10,477
-
6a · Gross rents
real property $873,487
-
6b · Less rental expenses
real property $730,406
-
6c · Rental income or loss
real property $143,081
-
6d · Net rental income or loss
total $143,081 · unrelated business $92,154 · excluded $50,927
-
8a · Fundraising events: gross income
$42,584
-
8a · Fundraising events: contributions included on line 1c
$69,564
-
8b · Fundraising events: direct expenses
$60,552
-
8c · Net income from fundraising events
total -$17,968 · excluded -$17,968
-
11a · Other revenue: MISCELLANEOUS INCOME
total $10,799 · related or exempt $10,799
-
11b · Other revenue: PROCESSING FEE EARNED
total $7,369 · related or exempt $7,369
-
11e · Other revenue, total
$18,168
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $12,000 · program services $12,000
-
5 · Compensation of officers, directors and key employees
total $124,361 · program services $118,330 · management and general $5,994 · fundraising $37
-
7 · Other salaries and wages
total $1,306,328 · program services $1,282,594 · management and general $23,587 · fundraising $147
-
8 · Pension plan contributions
total $74,012 · program services $72,472 · management and general $1,530 · fundraising $10
-
9 · Other employee benefits
total $138,187 · program services $135,312 · management and general $2,857 · fundraising $18
-
10 · Payroll taxes
total $125,325 · program services $122,718 · management and general $2,591 · fundraising $16
-
11b · Fees: legal
total $4,209 · management and general $4,209
-
11c · Fees: accounting
total $46,947 · management and general $46,947
-
11g · Fees: other
total $1,078,489 · program services $1,041,898 · management and general $30,417 · fundraising $6,174
-
12 · Advertising and promotion
total $190,334 · program services $181,070 · management and general $1,445 · fundraising $7,819
-
13 · Office expenses
total $227,684 · program services $217,119 · management and general $9,774 · fundraising $791
-
16 · Occupancy
total $49,968 · program services $48,245 · management and general $1,712 · fundraising $11
-
17 · Travel
total $82,036 · program services $81,179 · management and general $852 · fundraising $5
-
22 · Depreciation, depletion and amortization
total $87,882 · program services $86,100 · management and general $1,771 · fundraising $11
-
23 · Insurance
total $20,210 · program services $19,193 · management and general $1,011 · fundraising $6
-
24a · Other expenses: UNRELATED BUSINESS INCO
total $4,430 · management and general $4,430
-
24b · Other expenses: MEDB EVENT COSTS
total $1,491,110 · program services $1,491,110
-
24c · Other expenses: TRAINING
total $552,863 · program services $552,759 · management and general $104
-
24d · Other expenses: DEFERRED INCOME TAX
total $22,800 · program services $0 · management and general $22,800 · fundraising $0
-
24e · All other expenses
total $29,417 · program services $28,257 · management and general $600 · fundraising $560
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,215,759 · end of year $2,404,650
-
2 · Savings and temporary cash investments
beginning of year $641,373 · end of year $1,107,887
-
3 · Pledges and grants receivable
beginning of year $796,097 · end of year $971,506
-
4 · Accounts receivable
beginning of year $60,004 · end of year $456,715
-
9 · Prepaid expenses and deferred charges
beginning of year $135,188 · end of year $144,550
-
10a · Land, buildings and equipment: cost or other basis
$10,982,015
-
10b · Land, buildings and equipment: accumulated depreciation
$4,187,400
-
10c · Land, buildings and equipment, net
beginning of year $6,903,220 · end of year $6,794,615
-
11 · Investments: publicly traded securities
beginning of year $158,743 · end of year $170,416
-
15 · Other assets
beginning of year $103,334 · end of year $69,800
-
17 · Accounts payable and accrued expenses
beginning of year $378,101 · end of year $542,332
-
19 · Deferred revenue
beginning of year $1,283,856 · end of year $1,218,302
-
23 · Secured mortgages and notes payable
beginning of year $5,064,822 · end of year $4,938,626
-
25 · Other liabilities
beginning of year $56,654 · end of year $106,316
-
27 · Net assets without donor restrictions
beginning of year $3,965,539 · end of year $3,995,549
-
28 · Net assets with donor restrictions
beginning of year $264,746 · end of year $1,319,014
Mission and programs · 2022
Mission
MEDB LEADS AND INSPIRES INNOVATION IN BUSINESS, EDUCATION, AND OUR COMMUNITY.
Activities or mission (Part I)
TO PROVIDE LEADERSHIP AND VISION IN OUR COMMUNITY FOR THE RESPONSIBLE DESIGN AND DEVELOPMENT OF A STRONG SUSTAINABLE, AND DIVERSIFIED ECONOMY FOR MAUI COUNTY.
-
EDUCATION AND WORKFORCE DEVELOPMENT: MEDB'S EDUCATION TO WORKFORCE PIPELINE PROGRAMS SPAN KINDERGARTEN TO CAREERS. OUR ORIGINAL AND SIGNATURE PROGRAMS UNDER STEMWORKS SEEK TO STRENGTHEN THE PIPELINE BY ENGAGING GIRLS/WOMEN AND TRADITIONALLY UNDERREPRESENTED GROUPS IN SCIENCE, TECHNOLOGY, ENGINEERING AND MATH (STEM) CAREER PATHWAYS. STEMWORKS INNOVATIVE METHODOLOGY IS GROUNDED IN PLACE-BASED, SERVICE AND APPLIED LEARNING. THE PROGRAM INCLUDES TECHNICAL TRAINING, ENGINEERING-DESIGN PROCESS, REAL-WORLD CHALLENGES, MENTORING, CAREER-AWARENESS ACTIVITIES, AND INTERNSHIPS FOR STUDENTS. EDUCATORS HAVE ACCESS TO STATE OF THE ART TECHNOLOGY TOOLS AND PROFESSIONAL DEVELOPMENT. MEDB PROGRAMS SERVE OVER 35,000 STUDENTS, EDUCATORS, AND BUSINESSES STATEWIDE.
Expenses $2,072,792
-
BUSINESS DEVELOPMENT/OUTREACH/TECHNICAL ASSISTANCE: THE ORGANIZATION TARGETS AND ASSISTS EXISTING AND EMERGING BUSINESSES IN INFORMATION TECHNOLOGY, ENGINEERING, AEROSPACE, ASTRONOMY/OPTICS, RENEWABLE ENERGY, HEALTHCARE, AGRI-TECHNOLOGY AND SMALL BUSINESSES IN RURAL AND UNDER RESOURCED COMMUNITIES. THESE SECTORS PROVIDE OPPORTUNITIES TO STRENGTHEN AND DIVERSIFY THE ECONOMY AND GENERATE ACTIVITIES THAT OFFER NEW CAREER OPTIONS FOR RESIDENTS. BUSINESS DEVELOPMENT STRATEGIES INCLUDE ONE-ON-ONE CONSULTATIONS, TECHNICAL CONFERENCES, PUBLIC AWARENESS TOOLS, AND EXHIBITIONS.
Expenses $3,392,511 · Revenue $1,213,420
-
CIVIC ENGAGEMENT AND EDUCATION: THE ORGANIZATION WORKS TO ENGAGE DIVERSE MEMBERS OF THE COMMUNITY TO HAVE A VOICE IN DECISION-MAKING ABOUT MAUI COUNTY AND THE STATE'S ECONOMIC FUTURE. BY PROVIDING AND FACILITATING EDUCATION AND COMMUNITY-BASED PLATFORMS SUCH AS THE FOCUS GROUPS WHICH INFORMED THE COUNTY AND STATE'S COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY (CEDS), MEDB SEEKS TO PROVIDE TOOLS FOR RESIDENTS TO TAKE ACTION TO MAKE INFORMED DECISIONS ABOUT THEIR LIVES, COMMUNITY, AND THE ECONOMY.
Expenses $25,053 · Grants $12,000
As filed on the 2022 return.
Listed in Part VII
-
Tiare MartinTIARE MARTIN
CHAIR
- Total calculated
- $0
- Hours/week
- 0.3
-
Curtis TomCURTIS TOM
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0.3
-
Deanna GarciaDEANNA GARCIA
SECRETARY
- Total calculated
- $0
- Hours/week
- 0.3
-
Robert KawaharaROBERT KAWAHARA
TREASURER
- Total calculated
- $0
- Hours/week
- 0.3
-
Roz Rosalyn BakerROZ ROSALYN BAKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Dwayne BetsillDWAYNE BETSILL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Grant ChunGRANT CHUN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Ryan ChurchillRYAN CHURCHILL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Jerry CornellJERRY CORNELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Ned DavisNED DAVIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Lisa TomihamaLISA TOMIHAMA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
David LassnerDAVID LASSNER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Eric MatsudaERIC MATSUDA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Ryan FukushimaRYAN FUKUSHIMA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
J Scott MeidellJ SCOTT MEIDELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Saedene OtaSAEDENE OTA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Lisa PaulsonLISA PAULSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Carol ReimannCAROL REIMANN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Elli PascuaELLI PASCUA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Pam TumpapPAM TUMPAP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Rick VolnerRICK VOLNER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Rosie DavisROSIE DAVIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Leslie WilkinsLESLIE WILKINS
PRESIDENT & CEO
- Total calculated
- $154,861
- From this org
- $138,000
- From related orgs
- $0
- Other
- $16,861
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $138,000
- Bonus
- $0
- Other
- $0
- Deferred
- $8,280
- Nontaxable benefits
- $8,581
- Filer's total
- $154,861
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Form 990 of other organizations
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 7 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202441289349303569
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