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← HOUSING AND LAND ENTERPRISE OF MAUI

Form 990 for tax year 2024

Filed by HOUSING AND LAND ENTERPRISE OF MAUI.

Totals

Total revenue
$132,682
Total expenses
$324,787
Contributions and grants received
$136,259
Grants paid
$0
Program service revenue
$19,689
Investment income
$105,901
Other revenue
-$129,167
Total assets, end of year
$14,805,012
Total liabilities, end of year
$31,734
Net assets or fund balances, end of year
$14,773,278
Program services expenses (Part IX)
$242,358
Management and general expenses
$65,499
Fundraising expenses
$16,930
Program service expenses (Part III)
$242,358

Program services were 74.6% 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

    $1,800

  • 1c · Fundraising events

    $5,078

  • 1e · Government grants (contributions)

    $78,187

  • 1f · All other contributions, gifts and grants

    $51,194

  • 1g · Noncash contributions included above

    $5,078

  • 2a · Program service revenue: GROUND LEASE FEES

    total $19,689 · related or exempt $19,689

  • 3 · Investment income

    total $105,901 · excluded $105,901

  • 8a · Fundraising events: gross income

    $84,938

  • 8a · Fundraising events: contributions included on line 1c

    $5,078

  • 8b · Fundraising events: direct expenses

    $5,078

  • 8c · Net income from fundraising events

    total $79,860 · excluded $79,860

  • 10a · Gross sales of inventory

    $985,000

  • 10b · Cost of goods sold

    $1,194,027

  • 10c · Net income from sales of inventory

    total -$209,027 · related or exempt -$209,027

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $122,652 · program services $98,122 · management and general $18,398 · fundraising $6,132

  • 7 · Other salaries and wages

    total $52,405 · program services $41,923 · management and general $7,862 · fundraising $2,620

  • 9 · Other employee benefits

    total $6,915 · program services $5,531 · management and general $1,038 · fundraising $346

  • 10 · Payroll taxes

    total $23,193 · program services $18,555 · management and general $3,478 · fundraising $1,160

  • 11b · Fees: legal

    total $7,533 · program services $4,520 · management and general $2,636 · fundraising $377

  • 11c · Fees: accounting

    total $44,862 · program services $28,044 · management and general $16,358 · fundraising $460

  • 11g · Fees: other

    total $3,455 · program services $2,073 · management and general $1,209 · fundraising $173

  • 12 · Advertising and promotion

    total $1,377 · fundraising $1,377

  • 13 · Office expenses

    total $8,946 · program services $6,124 · management and general $2,288 · fundraising $534

  • 14 · Information technology

    total $3,567 · program services $2,498 · management and general $998 · fundraising $71

  • 16 · Occupancy

    total $4,675 · program services $2,337 · management and general $2,234 · fundraising $104

  • 17 · Travel

    total $675 · program services $473 · management and general $189 · fundraising $13

  • 19 · Conferences, conventions and meetings

    total $2,011 · program services $1,809 · management and general $101 · fundraising $101

  • 22 · Depreciation, depletion and amortization

    total $10,403 · program services $5,201 · management and general $2,601 · fundraising $2,601

  • 23 · Insurance

    total $28,262 · program services $22,610 · management and general $4,791 · fundraising $861

  • 24a · Other expenses: TAX AND LICENSE

    total $3,856 · program services $2,538 · management and general $1,318

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $75,569 · end of year $60,071

  • 2 · Savings and temporary cash investments

    beginning of year $1,761,708 · end of year $2,786,128

  • 4 · Accounts receivable

    beginning of year $89,078 · end of year $94,439

  • 8 · Inventories for sale or use

    beginning of year $1,195,719 · end of year $16,728

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,832 · end of year $7,588

  • 10a · Land, buildings and equipment: cost or other basis

    $11,951,124

  • 10b · Land, buildings and equipment: accumulated depreciation

    $111,066

  • 10c · Land, buildings and equipment, net

    beginning of year $11,847,844 · end of year $11,840,058

  • 17 · Accounts payable and accrued expenses

    beginning of year $33,967 · end of year $13,318

  • 19 · Deferred revenue

    end of year $18,416

  • 27 · Net assets without donor restrictions

    beginning of year $14,928,783 · end of year $14,773,278

  • 28 · Net assets with donor restrictions

    beginning of year $16,000 · end of year $0

Mission and programs · 2024

Mission

TO SECURE AND PRESERVE A PERMANENT SUPPLY OF AFFORDABLE HOUSING ALTERNATIVES FOR LOW AND MODERATE INCOME HOUSEHOLDS IN MAUI COUNTY.

  • THE GOAL OF THE ORGANIZATION IS TO INCREASE THE SUPPLY OF PERMANENTLY AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES FOR LOW- AND MODERATE-INCOME HOUSEHOLDS IN MAUI COUNTY BY RETAINING LAND OWNERSHIP AND ENSURING LONG-TERM AFFORDABILITY THROUGH A RENEWABLE GROUND LEASE. DURING THE 2024 TAX YEAR, NHOM COMPLETED REHABILITATION ACTIVITIES AND SOLD TWO HOMES TO INCOME-QUALIFIED HOUSEHOLDS, WHILE CONTINUING PROPERTY STEWARDSHIP, HOMEBUYER EDUCATION, AND PRE DEVELOPMENT PLANNING FOR FUTURE CONSTRUCTION.

    Expenses $242,358 · Revenue $19,689

As filed on the 2024 return.

Listed in Part VII

  • DAWN DEREGO

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • DAVE WARD

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL TROTTO

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • NICOLE SPALDING SMITH

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.4

  • LAVY SISOUVONG

    DIRECTOR (THRU 10/24)

    Total calculated
    $0
    Hours/week
    0.25

  • HONORATO MARTINEZ

    DIRECTOR (THRU 3/25)

    Total calculated
    $0
    Hours/week
    0.25

  • PAM READER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.4

  • TOM CROLY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • JEN MATHERS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.4

  • JUSTIN HUGHEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.4

  • KIMBERLY AWANA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.4

  • CASSANDRA ADBUL

    EXECUTIVE DIRECTOR (THRU 8/24)

    Total calculated
    $102,042
    From this org
    $100,569
    From related orgs
    $0
    Other
    $1,473
    Hours/week
    40

  • CARRIE DEMOTT

    EXECUTIVE DIRECTOR (EFF 8/24)

    Total calculated
    $50,396
    From this org
    $39,122
    From related orgs
    $0
    Other
    $11,274
    Hours/week
    40

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
16 January 2026
IRS schema version
2024v5.5
Source object
202630199349300958

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