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← HOUSING SOLUTIONS INCORPORATED

Form 990 for tax year 2024

Filed by HOUSING SOLUTIONS INCORPORATED.

Totals

Total revenue
$2,865,166
Total expenses
$3,561,417
Contributions and grants received
$57,354
Grants paid
$0
Program service revenue
$2,807,812
Investment income
$0
Other revenue
$0
Total assets, end of year
$14,893,276
Total liabilities, end of year
$2,083,233
Net assets or fund balances, end of year
$12,810,043
Program services expenses (Part IX)
$3,303,272
Management and general expenses
$258,145
Fundraising expenses
$0
Program service expenses (Part III)
$3,303,272

Program services were 92.8% 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.

  • 1f · All other contributions, gifts and grants

    $57,354

  • 2a · Program service revenue: RENTAL INCOME

    total $2,259,131 · related or exempt $2,259,131

  • 2b · Program service revenue: LOW-INCOME PROPERTY MA

    total $380,337 · related or exempt $380,337

  • 2c · Program service revenue: TENANT SERVICES

    total $122,504 · related or exempt $122,504

  • 2d · Program service revenue: PARKING

    total $45,840 · related or exempt $34,540 · unrelated business $11,300

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $222,572 · program services $178,058 · management and general $44,514

  • 7 · Other salaries and wages

    total $740,486 · program services $667,999 · management and general $72,487

  • 9 · Other employee benefits

    total $181,077 · program services $160,795 · management and general $20,282

  • 10 · Payroll taxes

    total $76,953 · program services $67,719 · management and general $9,234

  • 11a · Fees: management

    total $15,205 · program services $15,205

  • 11b · Fees: legal

    total $39,273 · management and general $39,273

  • 11c · Fees: accounting

    total $25,500 · management and general $25,500

  • 11g · Fees: other

    total $18,939 · program services $15,939 · management and general $3,000

  • 13 · Office expenses

    total $80,869 · program services $67,390 · management and general $13,479

  • 14 · Information technology

    total $9,449 · program services $6,225 · management and general $3,224

  • 16 · Occupancy

    total $898,461 · program services $895,617 · management and general $2,844

  • 17 · Travel

    total $5,745 · program services $2,586 · management and general $3,159

  • 19 · Conferences, conventions and meetings

    total $8,012 · program services $3,606 · management and general $4,406

  • 20 · Interest

    total $55,225 · program services $55,225

  • 22 · Depreciation, depletion and amortization

    total $748,971 · program services $742,419 · management and general $6,552

  • 23 · Insurance

    total $250,614 · program services $242,659 · management and general $7,955

  • 24a · Other expenses: TENANT ACTIVITIES

    total $132,081 · program services $129,845 · management and general $2,236

  • 24b · Other expenses: CREDIT LOSS

    total $51,985 · program services $51,985

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $603,646 · end of year $447,699

  • 2 · Savings and temporary cash investments

    beginning of year $161,542 · end of year $174,677

  • 3 · Pledges and grants receivable

    beginning of year $7,637

  • 4 · Accounts receivable

    beginning of year $214,834 · end of year $373,301

  • 9 · Prepaid expenses and deferred charges

    beginning of year $21,853 · end of year $2,854

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

    $26,382,116

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

    $13,475,674

  • 10c · Land, buildings and equipment, net

    beginning of year $13,607,429 · end of year $12,906,442

  • 15 · Other assets

    beginning of year $988,303 · end of year $988,303

  • 17 · Accounts payable and accrued expenses

    beginning of year $102,544 · end of year $117,622

  • 19 · Deferred revenue

    beginning of year $11,106 · end of year $10,697

  • 23 · Secured mortgages and notes payable

    beginning of year $1,827,958 · end of year $1,784,037

  • 25 · Other liabilities

    beginning of year $157,342 · end of year $170,877

  • 27 · Net assets without donor restrictions

    beginning of year $13,189,684 · end of year $12,684,998

  • 28 · Net assets with donor restrictions

    beginning of year $316,610 · end of year $125,045

Mission and programs · 2024

Mission

TO PROMOTE PROGRAMS LEADING TO SELF-SUFFICIENCY FOR HAWAII'S HOMELESS THROUGH THE DEVELOPMENT AND MANAGEMENT OF TRANSITIONAL AND AFFORDABLE LONG-TERM HOUSING.

Activities or mission (Part I)

DEVELOP AND MANAGE TRANSITIONAL AND LONG-TERM SUPPORTIVE AFFORDABLE HOUSING.

  • PERMANENT HOUSING - INCLUDES SEA WIND & WEINBERG HALE APARTMENT BUILDINGS DEVELOPED AND PURCHASED BY THE ORGANIZATION TO PROVIDE LONG-TERM, AFFORDABLE RENTAL HOUSING FOR LOW-INCOME PERSONS. ALSO INCLUDES THE ISLAND WEST APARTMENTS FOR WHICH THE ORGANIZATION PROVIDES BUILDING AND PROGRAM MANAGEMENT SERVICES. SERVED APPROXIMATELY 923 PERSONS.

    Expenses $1,805,253 · Revenue $1,340,852

  • TRANSITIONAL HOUSING - INCLUDES SEA WIND & LOLIANA APARTMENTS, VANCOUVER HOUSE, AND EDWIN THOMAS HOME THAT PROVIDE TRANSITIONAL HOUSING FACILITIES FOR FAMILIES AND INDIVIDUALS WHO ARE HOMELESS AND IN NEED OF SHELTER AND SUPPORT. APPROXIMATELY 347 PERSONS SERVED.

    Expenses $1,498,019 · Revenue $1,455,660

As filed on the 2024 return.

Listed in Part VII

  • Michael Curtis

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Rik Papa

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Christopher Abbott

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Gaye Johnston

    PRESIDENT

    Total calculated
    $221,333
    From this org
    $203,261
    From related orgs
    $0
    Other
    $18,072
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $203,261
    Bonus
    $0
    Other
    $0
    Deferred
    $8,080
    Nontaxable benefits
    $9,992
    Filer's total
    $221,333

  • Lisa Lo

    DIRECTOR OF ADMIN

    Total calculated
    $176,192
    From this org
    $152,935
    From related orgs
    $0
    Other
    $23,257
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,935
    Bonus
    $0
    Other
    $0
    Deferred
    $6,500
    Nontaxable benefits
    $16,757
    Filer's total
    $176,192

  • Shanelle Lum

    GENERAL MANAGER

    Total calculated
    $119,507
    From this org
    $102,837
    From related orgs
    $0
    Other
    $16,670
    Hours/week
    40

  • Christine Gerson

    MANAGER

    Total calculated
    $108,722
    From this org
    $100,011
    From related orgs
    $0
    Other
    $8,711
    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. 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 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
2024
Filed
28 April 2026
IRS schema version
2024v5.5
Source object
202601209349300130

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