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 ArizumiALAN ARIZUMI
EX-OFFICIO DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Catherine NgoCATHERINE NGO
EX-OFFICIO DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Colbert MatsumotoCOLBERT MATSUMOTO
EX-OFFICIO DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
David TumilowiczDAVID TUMILOWICZ
SECRETARY & DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Jan SullivanJAN SULLIVAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Jeffrey H OvertonJEFFREY H OVERTON
CHAIRMAN & DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Jeffrey Kd AuJEFFREY KD AU
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Joseph ViolaJOSEPH VIOLA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Keith YoshidaKEITH YOSHIDA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Murray ClayMURRAY CLAY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Myron ThompsonMYRON THOMPSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Nelson Km LauNELSON KM LAU
TREASURER/DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Patrick SullivanPATRICK SULLIVAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Robin CampanianoROBIN CAMPANIANO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Timothy JohnsTIMOTHY JOHNS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Tyler TokiokaTYLER TOKIOKA
VICE CHAIR & DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Vassilis SyrmosVASSILIS SYRMOS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Mahina Paishon-DuarteMAHINA PAISHON-DUARTE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Neill CharNEILL CHAR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Rob LeeROB LEE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Michael J O'MalleyMICHAEL J O'MALLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Sarah GuaySARAH GUAY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Taylor QuananTAYLOR QUANAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Ryden IwamotoRYDEN IWAMOTO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Virgil Packett IIVIRGIL PACKETT II
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Lisa MaruyamaLISA MARUYAMA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Sheri-Ann Lau ClarkSHERI-ANN LAU CLARK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Paul ItoPAUL ITO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Catherine ColonCATHERINE 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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