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Nonprofiteer
← HAWAII COMMUNITY REINVESTMENT CORP

Form 990 for tax year 2022

Filed by HAWAII COMMUNITY REINVESTMENT CORP.

Totals

Total revenue
$403,580
Total expenses
$325,677
Contributions and grants received
$357,334
Grants paid
$0
Program service revenue
$43,804
Investment income
$2,442
Other revenue
$0
Total assets, end of year
$3,723,033
Total liabilities, end of year
$557,440
Net assets or fund balances, end of year
$3,165,593
Program services expenses (Part IX)
$247,137
Management and general expenses
$78,540
Fundraising expenses
$0
Program service expenses (Part III)
$247,137

Program services were 75.9% 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)

    $145,000

  • 1f · All other contributions, gifts and grants

    $212,334

  • 2a · Program service revenue: INTEREST ON LOANS

    total $15,342 · related or exempt $15,342

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

    total $12,750 · related or exempt $12,750

  • 2c · Program service revenue: DBEDT GRANT AWARD

    total $9,075 · related or exempt $9,075

  • 2d · Program service revenue: CONSULTING

    total $6,637 · related or exempt $6,637

  • 3 · Investment income

    total $2,442 · excluded $2,442

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $183,610 · program services $135,871 · management and general $47,739

  • 9 · Other employee benefits

    total $14,492 · program services $10,724 · management and general $3,768

  • 10 · Payroll taxes

    total $11,369 · program services $8,413 · management and general $2,956

  • 11b · Fees: legal

    total $10,418 · program services $8,131 · management and general $2,287

  • 11c · Fees: accounting

    total $41,906 · program services $32,705 · management and general $9,201

  • 11g · Fees: other

    total $26,944 · program services $20,984 · management and general $5,960

  • 12 · Advertising and promotion

    total $1,395 · program services $1,042 · management and general $353

  • 13 · Office expenses

    total $969 · program services $717 · management and general $252

  • 14 · Information technology

    total $13,498 · program services $9,449 · management and general $4,049

  • 17 · Travel

    total $3,477 · program services $3,477

  • 20 · Interest

    total $7,500 · program services $7,500

  • 23 · Insurance

    total $5,982 · program services $4,426 · management and general $1,556

  • 24a · Other expenses: PROVISION FOR LOAN LOSSES

    total $2,909 · program services $2,909

  • 24b · Other expenses: MISCELLANEOUS

    total $1,208 · program services $789 · management and general $419

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,173,681 · end of year $1,244,810

  • 2 · Savings and temporary cash investments

    beginning of year $1,533,424 · end of year $936,171

  • 3 · Pledges and grants receivable

    beginning of year $47,685 · end of year $35,000

  • 7 · Other notes and loans receivable

    beginning of year $981,096 · end of year $797,469

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,371 · end of year $4,265

  • 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 $324,926 · end of year $705,318

  • 17 · Accounts payable and accrued expenses

    beginning of year $34,657 · end of year $15,873

  • 25 · Other liabilities

    beginning of year $946,836 · end of year $541,567

  • 27 · Net assets without donor restrictions

    beginning of year $2,845,690 · end of year $3,165,593

  • 28 · Net assets with donor restrictions

    beginning of year $242,000

Mission and programs · 2022

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.

Activities or mission (Part I)

THE MISSION OF THE CORPORATION IS TO PROVIDE INNOVATIVE FINANCING, TRAINING, AND CONSULTING SERVICES TO PUBLIC AND PRIVATE ORGANIZATIONS WHO ENGAGE IN BUILDING LIVABLE COMMUNITIES IN HAWAII.

  • HCRC AND SUBSIDIARIES HAVE ASSISTED 3,508 AFFORDABLE RENTAL HOUSING UNITS WITH FUNDING OF 205.5 MILLION THROUGH ITS AFFORDABLE HOUSING LOAN PARTICIPATION PROGRAM, PROVIDED 7 BUSINESS LOANS TOTALING 3.6 MILLION THROUGH THE SBA 504 LOAN PROGRAM, PROVIDED 22 BUSINESS LOANS TOTALING 2,206,138 DIRECTLY TO NONPROFIT AND SMALL BUSINESSES, AND PROVIDED 203 ENERGY EFFICIENCY LOANS TOTALING 4.8 MILLION THROUGH THE DBEDT GREENSUN LOAN LOSS RESERVE PROGRAM. IN 2022, 500,000 IN FINANCING WAS PROVIDED FOR PRE-DEVELOPMENT OF 66 AFFORDABLE HOUSING UNITS AND 50,000 IN FINANCING WAS PROVIDED FOR CRITICAL HOME REPAIRS OF 6 AFFORDABLE HOMES. 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 FOR PRESERVATION OF AFFORDABLE HOUSING IN TOD DISTRICT, AND ADMINSTERED 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 CONSULTATIONS, WEBINARS, AND CONVENINGS.

    Expenses $247,137 · Revenue $43,804

As filed on the 2022 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

  • Darren Ueki

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Heather Piper

    EXECUTIVE DI

    Total calculated
    $183,611
    From this org
    $155,548
    From related orgs
    $0
    Other
    $28,063
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $155,548
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $28,063
    Filer's total
    $183,611

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 · controlled entity

    Directly controlled by PART VII

Provenance

Return type
form_990
Tax year
2022
Filed
18 October 2023
IRS schema version
2022v5.0
Source object
202323109349302802

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