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Nonprofiteer
← HAWAII COMMUNITY REINVESTMENT CORP

Form 990 for tax year 2024

Filed by HAWAII COMMUNITY REINVESTMENT CORP.

Totals

Total revenue
$859,691
Total expenses
$459,216
Contributions and grants received
$665,123
Grants paid
$0
Program service revenue
$165,886
Investment income
$28,682
Other revenue
$0
Total assets, end of year
$6,221,247
Total liabilities, end of year
$2,126,129
Net assets or fund balances, end of year
$4,095,118
Program services expenses (Part IX)
$354,652
Management and general expenses
$104,564
Fundraising expenses
$0
Program service expenses (Part III)
$354,652

Program services were 77.2% 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.

  • 1e · Government grants (contributions)

    $125,000

  • 1f · All other contributions, gifts and grants

    $540,123

  • 2a · Program service revenue: INTEREST ON LOANS

    total $128,207 · related or exempt $128,207

  • 2b · Program service revenue: LOAN APP AND SERVICE FEES

    total $34,230 · related or exempt $34,230

  • 2c · Program service revenue: DBEDT GRANT AWARD

    total $3,449 · related or exempt $3,449

  • 3 · Investment income

    total $28,682 · excluded $28,682

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $199,892 · program services $139,924 · management and general $59,968

  • 7 · Other salaries and wages

    total $30,840 · program services $21,588 · management and general $9,252

  • 9 · Other employee benefits

    total $10,286 · program services $7,201 · management and general $3,085

  • 10 · Payroll taxes

    total $14,205 · program services $9,943 · management and general $4,262

  • 11b · Fees: legal

    total $23,303 · program services $19,400 · management and general $3,903

  • 11c · Fees: accounting

    total $51,376 · program services $42,772 · management and general $8,604

  • 11g · Fees: other

    total $42,019 · program services $34,753 · management and general $7,266

  • 13 · Office expenses

    total $9,517 · program services $6,662 · management and general $2,855

  • 14 · Information technology

    total $4,522 · program services $3,165 · management and general $1,357

  • 17 · Travel

    total $2,544 · program services $1,781 · management and general $763

  • 19 · Conferences, conventions and meetings

    total $2,330 · program services $1,631 · management and general $699

  • 20 · Interest

    total $26,135 · program services $26,135

  • 23 · Insurance

    total $6,295 · program services $4,407 · management and general $1,888

  • 24a · Other expenses: PROVISION FOR LOAN LOSSES

    total $33,747 · program services $33,747

  • 24b · Other expenses: MISCELLANEOUS

    total $2,205 · program services $1,543 · management and general $662

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,197,428 · end of year $1,903,841

  • 2 · Savings and temporary cash investments

    beginning of year $1,407,556 · end of year $808,228

  • 3 · Pledges and grants receivable

    beginning of year $161,979

  • 7 · Other notes and loans receivable

    beginning of year $1,958,286 · end of year $2,708,445

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,085 · end of year $4,753

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

    $14,018

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

    $14,018

  • 15 · Other assets

    beginning of year $491,792 · end of year $795,980

  • 17 · Accounts payable and accrued expenses

    beginning of year $18,620 · end of year $24,673

  • 25 · Other liabilities

    beginning of year $1,508,863 · end of year $2,101,456

  • 27 · Net assets without donor restrictions

    beginning of year $3,694,643 · end of year $4,095,118

Mission and programs · 2024

Mission

THE MISSION OF HAWAII COMMUNITY REINVESTMENT CORPORATION IS TO FACILITATE AFFORDABLE HOUSING, COMMUNITY DEVELOPMENT, AND ECONOMIC DEVELOPMENT THROUGHOUT THE STATE OF HAWAII BY PROVIDING INNOVATIVE FINANCING, TRAINING AND CONSULTING TO ORGANIZATIONS WHO SERVE UNDERSERVED AND DISADVANTAGED COMMUNITIES.

  • HCRC AND SUBSIDIARIES HAVE PROVIDED FINANCING FOR: THE DEVELOPMENT OF 3,508 AFFORDABLE HOUSING RENTAL UNITS WITH TOTAL FUNDING OF 205.5 MILLION THROUGH ITS AFFORDABLE HOUSING BANK CONSORTIUM LOAN PARTICIPATON PROGRAM. 7 BUSINESS LOANS TOTALING 3.6 MILLION THROUGH THE SBA 504 PROGRAM 203 ENERGY EFFICIENT LOANS TOTALING 4.8 MILLION THROUGH THE DBEDT GREENSUN LOAN LOSS RESERVE PROGRAM. 30 DIRECT LOANS TOTALING 4.9 MILLION TO NONPROFITS AND SMALL BUSINESSES TO SUPPORT COMMUNITY PROGRAMS AND ECONOMIC DEVELOPMENT THROUGH ITS COMMUNITY LOAN FUND. 5 DIRECT LOANS TOTALING 2.7 MILLION FOR PREDEVELOPMENT OF 872 NEW AFFORDABLE RENTAL UNITS AND 4 DIRECT LOANS TOTALING 591K FOR THE PRESERVATION OF 11 AFFORDABLE SINGLE FAMILY HOMES AND 3 DIRECT LOANS TOTALING 310K FOR IMPROVEMENTS TO 56,000 SQ FT OF COMMUNITY FACILITIES THROUGH ITS COMMUNITY REAL ESTATE LOAN FUND. 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 PRESERVATION OF AFFORDABLE HOUSING IN TOD DISTRICT, AND ADMINISTERED 153 PASSTHROUGH GRANTS TOTALING 1,833,759 FOR THE C&C HONOLULU MAYORS OFFICE OF CULTURE AND ARTS CARES ACT RECOVERY & RELIEF FUND PROGRAM. HCRC PROVIDES FREE FINANCIAL TECHNICAL ASSISTANCE AND TRAINING TO COMMUNITY BASED ORGANIZATIONS THROUGH INDIVIDUAL CONSULTATION, WEBINARS, AND CONVENINGS.

    Expenses $354,652 · Revenue $165,886

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Bryan Luke

    CHAIRMAN & S

    Total calculated
    $0
    Hours/week
    1

  • Scott Hayashi

    TREASURER/DI

    Total calculated
    $0
    Hours/week
    1

  • Amy Asselbaye

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Roy Katsuda

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Tony Mizuno

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Robert Van Tassel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Andreana Reyes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Darren Ueki

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Heather Piper

    EXECUTIVE DI

    Total calculated
    $199,892
    From this org
    $169,993
    From related orgs
    $0
    Other
    $29,899
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $169,993
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $29,899
    Filer's total
    $199,892

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 · 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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • HAWAII INVESTORS FOR AFFORDABLE HOU

    C CORP · PART VII · HI · 100% owned

    Directly controlled by PART VII

Provenance

Return type
form_990
Tax year
2024
Filed
6 August 2025
IRS schema version
2024v5.0
Source object
202512209349302001

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