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Nonprofiteer
← HHOC MORTGAGE

Form 990 for tax year 2022

Filed by HHOC MORTGAGE.

Totals

Total revenue
$303,213
Total expenses
$346,019
Contributions and grants received
$145,000
Grants paid
$0
Program service revenue
$141,438
Investment income
$16,775
Other revenue
$0
Total assets, end of year
$4,421,266
Total liabilities, end of year
$742,937
Net assets or fund balances, end of year
$3,678,329
Program services expenses (Part IX)
$281,823
Management and general expenses
$64,196
Fundraising expenses
$0
Program service expenses (Part III)
$281,823

Program services were 81.4% 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.

  • 1d · Related organizations

    $20,000

  • 1e · Government grants (contributions)

    $125,000

  • 2a · Program service revenue: PROGRAM FEES

    total $82,469 · related or exempt $69,873 · unrelated business $12,596

  • 2b · Program service revenue: LOAN INTEREST AND FEES

    total $58,969 · related or exempt $58,969

  • 3 · Investment income

    total $16,812 · excluded $16,812

  • 7a · Gross sales of assets other than inventory

    securities $767

  • 7b · Less cost or other basis and sales expenses

    securities $804

  • 7c · Gain or loss

    securities -$37

  • 7d · Net gain or loss

    total -$37 · excluded -$37

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $169,878 · program services $169,878

  • 9 · Other employee benefits

    total $10,197 · program services $10,197

  • 10 · Payroll taxes

    total $17,502 · program services $17,502

  • 11b · Fees: legal

    total $31,791 · program services $31,791

  • 11f · Fees: investment management

    total $150 · management and general $150

  • 13 · Office expenses

    total $70,492 · program services $23,996 · management and general $46,496

  • 16 · Occupancy

    total $14,144 · program services $14,144

  • 19 · Conferences, conventions and meetings

    total $5,237 · program services $5,237

  • 20 · Interest

    total $7,915 · program services $7,915

  • 22 · Depreciation, depletion and amortization

    total $1,163 · program services $1,163

  • 23 · Insurance

    total $17,550 · management and general $17,550

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,613,161 · end of year $337,306

  • 2 · Savings and temporary cash investments

    beginning of year $125,761 · end of year $2,045,454

  • 3 · Pledges and grants receivable

    beginning of year $9,764 · end of year $8,822

  • 4 · Accounts receivable

    end of year $6,260

  • 7 · Other notes and loans receivable

    beginning of year $1,700,962 · end of year $1,980,968

  • 9 · Prepaid expenses and deferred charges

    beginning of year $14,150 · end of year $14,929

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

    $6,769

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

    $5,469

  • 10c · Land, buildings and equipment, net

    beginning of year $2,463 · end of year $1,300

  • 11 · Investments: publicly traded securities

    beginning of year $26,446 · end of year $26,227

  • 17 · Accounts payable and accrued expenses

    beginning of year $21,971 · end of year $11,762

  • 24 · Unsecured notes and loans payable

    beginning of year $500,000 · end of year $500,000

  • 25 · Other liabilities

    beginning of year $249,551 · end of year $231,175

  • 27 · Net assets without donor restrictions

    beginning of year $1,349,369 · end of year $2,289,390

  • 28 · Net assets with donor restrictions

    beginning of year $2,371,816 · end of year $1,388,939

Mission and programs · 2022

Mission

TO ASSIST LOW TO MODERATE INCOME HOME BUYERS IN HAWAII WITH DOWN PAYMENT ASSISTANCE, AND AFFORDABLE FINANCING.

Activities or mission (Part I)

TO ASSIST LOW TO MODERATE INCOME HOME BUYERS IN HAWAII WITH DOWN PAYMENT ASSISTANCE, AND AFFORDABLE FINANCING. HHOC MORTGAGE IS DEDICATED TO OFFERING AFFORDABLE MORTGAGE LOANS TO HAWAII'S HOMEBUYERS THAT ARE COMPETITIVELY PRICED. HHOC MORTGAGE PRIMARILY SERVES LOW AND MODERATE INCOME TARGET MARKETS AND COMMUNITIES. HHOC MORTGAGE ALSO PROVIDES FINANCIAL SUPPORT TO HAWAII HOMEOWNERSHIP CENTER TO ENABLE CONTINUANCE OF ITS MISSION TO PROVIDE PROSPECTIVE HOMEBUYERS WITH FINANCIAL EDUCATION AND COACHING.

  • HHOC MORTGAGE (HHOCM) STRIVES TO SERVE ITS PRIMARY MISSION OF SERVING THE LOW/MODERATE INCOME, FIRST-TIME HOME BUYERS BY PROVIDING THEM WITH THE MOST AFFORDABLE FINANCING PROGRAM(S) AVAILABLE. ADDITIONALLY, HHOCM'S PURPOSE IS TO GENERATE EXCESS REVENUES TO ASSIST IN SUSTAINING ITS AFFILIATE, HAWAII HOMEOWNERSHIP CENTER.OUR PRIMARY PROGRAM SERVICE IS OFFERING FIRST MORTGAGES.OUR SECONDARY PROGRAM SERVICES IS PROVIDING DOWN PAYMENT ASSISTANCE LOANS (SECOND MORTGAGES) THROUGH OUR PORTFOLIO OR THROUGH ARRANGEMENT WITH PARTNERING CREDIT UNIONS.THE LAST PROGRAM SERVICE WE OFFER IS DEFERRED DOWN PAYMENT AND CLOSING COST LOANS BETWEEN $5,000-10,000 TO INCOME QUALIFIED, FIRST-TIME BUYERS.

    Expenses $281,823 · Revenue $128,842

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dawn Robinson-Naya

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Michael Miller

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.25

  • Tricia Fujikawa Lee

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.25

  • Robert Chow

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Mark Kimoto

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Grant Chun

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.5 related

  • Daniel Costigan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Peter Nagata

    FORMER TREASURER/SECRETARY

    Total calculated
    $0
    Hours/week
    0.25

  • Reina Miyamoto

    EXECUTIVE DIRECTOR

    Total calculated
    $87,608
    From this org
    $0
    From related orgs
    $80,000
    Other
    $7,608
    Hours/week
    10 + 30 related

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.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
6 November 2023
IRS schema version
2022v5.0
Source object
202333109349303368

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