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Nonprofiteer
← OAHU ECONOMIC DEVELOPMENT BOARD

Form 990 for tax year 2023

Filed by OAHU ECONOMIC DEVELOPMENT BOARD.

Totals

Total revenue
$1,049,344
Total expenses
$842,218
Contributions and grants received
$142,877
Grants paid
$5,520
Program service revenue
$906,467
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,283,565
Total liabilities, end of year
$14,736
Net assets or fund balances, end of year
$1,268,829
Program services expenses (Part IX)
$262,151
Management and general expenses
$580,067
Fundraising expenses
$0
Program service expenses (Part III)
$262,151

Program services were 31.1% 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

    $142,877

  • 2a · Program service revenue: NEW MARKET TAX CREDITS

    total $873,937 · related or exempt $873,937

  • 2b · Program service revenue: COMPREHENSIVE ECONOMIC

    total $22,500 · related or exempt $22,500

  • 2c · Program service revenue: FISCAL AGENT

    total $6,555 · related or exempt $6,555

  • 2d · Program service revenue: BUSINESS DEVELOPMENT

    total $3,475 · related or exempt $3,475

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,520 · program services $5,520

  • 5 · Compensation of officers, directors and key employees

    total $211,218 · program services $114,141 · management and general $97,077

  • 7 · Other salaries and wages

    total $256,208 · program services $28,752 · management and general $227,456

  • 9 · Other employee benefits

    total $54,788 · management and general $54,788

  • 10 · Payroll taxes

    total $54,932 · program services $13,530 · management and general $41,402

  • 11c · Fees: accounting

    total $40,340 · program services $3,229 · management and general $37,111

  • 11g · Fees: other

    total $51,375 · program services $28,171 · management and general $23,204

  • 12 · Advertising and promotion

    total $23,412 · program services $19,644 · management and general $3,768

  • 13 · Office expenses

    total $11,395 · program services $4,377 · management and general $7,018

  • 14 · Information technology

    total $5,026 · management and general $5,026

  • 16 · Occupancy

    total $61,549 · program services $274 · management and general $61,275

  • 17 · Travel

    total $22,546 · program services $22,442 · management and general $104

  • 19 · Conferences, conventions and meetings

    total $19,042 · program services $18,116 · management and general $926

  • 23 · Insurance

    total $11,811 · management and general $11,811

  • 24a · Other expenses: MISCELLANEOUS EXPENSE

    total $9,926 · program services $1,141 · management and general $8,785

  • 24b · Other expenses: SPONSORSHIP

    total $2,500 · program services $2,500

  • 24c · Other expenses: BUSINESS REGISTRATION F

    total $630 · program services $314 · management and general $316

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,083,116 · end of year $1,283,565

  • 4 · Accounts receivable

    beginning of year $6,285 · end of year $0

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

    $122,074

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

    $122,074

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $2,318 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $30,016 · end of year $14,736

  • 27 · Net assets without donor restrictions

    beginning of year $969,700 · end of year $1,251,581

  • 28 · Net assets with donor restrictions

    beginning of year $92,003 · end of year $17,248

Mission and programs · 2023

Mission

OAHU ECONOMIC DEVELOPMENT BOARD (OEDB) IS A NON-PROFIT, FUNDED PRIMARILY BY THE PRIVATE SECTOR. THE ORGANIZATION'S EFFORTS SUPPORT A DIVERSIFIED ECONOMY ON O'AHU BY BEING A LEADING AGENT IN THE GROWTH, RETENTION AND RECRUITMENT OF BUSINESSES THAT OFFER QUALITY JOBS IN HAWAII. OEDB IS ALSO ACTIVELY INVOLVED IN INFRASTRUCTURE, PLANNING AND WORKFORCE DEVELOPMENT TO BUILD THE FOUNDATION FOR A GLOBALLY COMPETITIVE, PROSPEROUS ECONOMY.

Activities or mission (Part I)

PROMOTE AND ENCOURAGE ECONOMIC GROWTH, DEVELOPMENT, AND DIVERSIFICATION WITHIN THE CITY AND COUNTY OF HONOLULU AND THE STATE OF HAWAII.

  • HAWAI'I GREEN GROWTH IS COMMITTED TO BUILDING A MORE RESILIENT AND SUSTAINABLE FUTURE FOR HAWAI'I. HAWAI'I GREEN GROWTH SERVES AS THE BACKBONE ORGANIZATION FOR THE ALOHA+ CHALLENGE, AND COORDINATES A BROAD STAKEHOLDER BASE TO IDENTIFY AREAS FOR STATEWIDE ACTION ON HAWAI'I'S 2030 SUSTAINABILITY GOALS. THE PARTNERSHIP HONORS A COLLABORATIVE AND INTEGRATED APPROACH TO ACHIEVE ENVIRONMENTAL, SOCIAL, AND ECONOMIC PROSPERITY FOR FUTURE GENERATIONS. HAWAIIAN CULTURE AND VALUES ARE THE BEDROCK OF THE ALOHA+ CHALLENGE AND HAWAI'I GREEN GROWTH, PROVIDING A TRUST-BASED FRAMEWORK TO PROMOTE SYSTEM-LEVEL CHANGE ACROSS HAWAI'I.

    Expenses $55,460

  • THE MISSION OF THE BUSINESS DEVELOPMENT PROGRAM IS TO ACHIEVE HEALTHY & PROSPEROUS ECONOMIC SECTORS FOCUSING ON HAWAII'S NEEDS AND BUILDING UPON OUR UNIQUE ASSETS. THIS INITIATIVE INCLUDED LEADERSHIP ENGAGEMENT AND DEVELOPMENT, TRUST BUILDING, COMMUNITY BUILDING AND DEVELOPMENT FOR CAPACITY BUILDING TO INCREASE JOBS AND WAGES INTO THE FUTURE. THE TARGETED SECTORS AND PROGRAMS INCLUDED, COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY - CONTRACTED ASSISTANCE WITH BUSINESSES, OFFICE OF PLANNING, STATE DEPARTMENT OF BUSINESS, FISCAL AGENT FOR HAWAII GREEN GROWTH AND HAWAII COMMUNITY BENEFITS CONSULTANTS.$10,000 OF REVENUE WAS RECEIVED FOR THE PROFESSIONAL MENTORING AND ADVISING FOR THE CENTER FOR DIVERSE LEADERSHIP IN SCIENCE. ALSO, COORDINATION AND ORGANIZING OF THE BOARD OF DIRECTORS FOR CDLS AS INTERIM BOARD CHAIR 2023. FOR OEDB, DEVELOPMENT OF EXAMPLES OF EXPORTING KNOWLEDGE AND INNOVATION EXPERTISE AND IMPORTING MONIES TO HAWAII.

    Expenses $187,755 · Grants $5,500 · Revenue $3,475

  • THE NEW MARKETS TAX CREDITS ("NMTC") PROGRAM PROVIDES A TAX INCENTIVE FOR PRIVATE SECTOR INVESTMENT INTO ECONOMIC DEVELOPMENT PROJECTS AND BUSINESSES LOCATED IN LOW-INCOME COMMUNITIES. THIS PROGRAM IS OVERSEEN BY U.S. DEPARTMENT OF THE TREASURY AND DIRECTLY ADMINISTERED BY THE COMMUNITY DEVELOPMENT FINANCIALS INSTITUTIONS ("CDFI") FUND. NMTCS ARE ALLOCATED BY THE CDFI FUND TO COMMUNITY DEVELOPMENT ENTITIES ("CDES"). CDES OFFER NMTCS TO INVESTORS IN EXCHANGE FOR QUALIFIED EQUITY INVESTMENTS FOR THE PURPOSE OF MAKING LOANS TO QUALIFIED ACTIVE LOW-INCOME BUSINESSES.

    Expenses $7,672 · Revenue $873,937

  • OTHER PROGRAM SERVICE ACCOMPLISHMENTS INCLUDE PROVIDING SUPPORT TO THE CITY & COUNTY OF HONOLULU, THE COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY (CEDS), FISCAL AGENT FOR HAWAII GREEN GROWTH AND HAWAII COMMUNITY BENEIFTS CONSULTANTS

    Expenses $11,264 · Grants $20 · Revenue $29,055

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Alan Arizumi

    EX-OFFICIO DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Catherine Ngo

    EX-OFFICIO DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Colbert Matsumoto

    EX-OFFICIO DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • David Tumilowicz

    SECRETARY & DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Jan Sullivan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Jeffrey H Overton

    CHAIRMAN & DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Jeffrey Kd Au

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Joseph Viola

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Keith Yoshida

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Murray Clay

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Myron Thompson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Nelson Km Lau

    TREASURER/DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Patrick Sullivan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Robin Campaniano

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Timothy Johns

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Tyler Tokioka

    VICE CHAIR & DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Vassilis Syrmos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Mahina Paishon-Duarte

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Neill Char

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Rob Lee

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Michael J O'Malley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Sarah Guay

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Taylor Quanan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Ryden Iwamoto

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Virgil Packett II

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Lisa Maruyama

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Sheri-Ann Lau Clark

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Paul Ito

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2
  • Catherine Colon

    PRESIDENT & CEO

    Total calculated
    $211,218
    From this org
    $190,128
    From related orgs
    $0
    Other
    $21,090
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $165,128
    Bonus
    $25,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $21,090
    Filer's total
    $211,218

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 · 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
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202413199349317901

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