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Nonprofiteer
← HAWAII ISLAND COMMUNITY DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by HAWAII ISLAND COMMUNITY DEVELOPMENT CORPORATION.

Totals

Total revenue
$1,165,639
Total expenses
$1,178,589
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$852,144
Investment income
$1,706
Other revenue
$311,789
Total assets, end of year
$37,304,021
Total liabilities, end of year
$25,032,967
Net assets or fund balances, end of year
$12,271,054
Program services expenses (Part IX)
$1,090,224
Management and general expenses
$88,365
Fundraising expenses
$0
Program service expenses (Part III)
$1,090,224

Program services were 92.5% 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.

  • 2a · Program service revenue: ELDERLY & OTHER PROJEC

    total $521,145 · related or exempt $521,145

  • 2b · Program service revenue: TECHNICAL ASSISTANCE U

    total $325,190 · related or exempt $325,190

  • 2c · Program service revenue: ELDERLY PROJECTS SERVI

    total $5,809 · related or exempt $5,809

  • 3 · Investment income

    total $1,706 · excluded $1,706

  • 6a · Gross rents

    personal property $45,273

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $45,273

  • 6d · Net rental income or loss

    total $45,273 · related or exempt $45,273

  • 11a · Other revenue: OTHER REIMBURSEMENTS &

    total $266,516 · related or exempt $266,516

  • 11e · Other revenue, total

    $266,516

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $361,204 · program services $325,084 · management and general $36,120

  • 7 · Other salaries and wages

    total $224,369 · program services $201,932 · management and general $22,437

  • 8 · Pension plan contributions

    total $24,307 · program services $21,876 · management and general $2,431

  • 9 · Other employee benefits

    total $119,162 · program services $107,246 · management and general $11,916

  • 10 · Payroll taxes

    total $45,964 · program services $41,368 · management and general $4,596

  • 11g · Fees: other

    total $109,020 · program services $109,020

  • 13 · Office expenses

    total $20,273 · program services $18,246 · management and general $2,027

  • 16 · Occupancy

    total $17,782 · program services $16,004 · management and general $1,778

  • 17 · Travel

    total $8,538 · program services $7,684 · management and general $854

  • 22 · Depreciation, depletion and amortization

    total $132,297 · program services $132,297

  • 23 · Insurance

    total $25,599 · program services $23,039 · management and general $2,560

  • 24a · Other expenses: PROJECT EXENSES

    total $53,222 · program services $53,222

  • 24b · Other expenses: PROFESSIONAL FEES

    total $28,379 · program services $25,541 · management and general $2,838

  • 24c · Other expenses: EQUIPMENT RENTAL & MAIN

    total $4,374 · program services $3,937 · management and general $437

  • 24d · Other expenses: DUES & TAXES

    total $3,711 · program services $3,340 · management and general $371

  • 24e · All other expenses

    total $388 · program services $388

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $607,512

  • 2 · Savings and temporary cash investments

    beginning of year $1,535,527 · end of year $616,329

  • 3 · Pledges and grants receivable

    beginning of year $37,510 · end of year $11,470

  • 4 · Accounts receivable

    beginning of year $2,673,884 · end of year $3,030,260

  • 7 · Other notes and loans receivable

    beginning of year $18,748,748 · end of year $19,161,526

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,423 · end of year $10,283

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

    $12,185,233

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

    $523,076

  • 10c · Land, buildings and equipment, net

    beginning of year $11,787,442 · end of year $11,662,157

  • 12 · Investments: other securities

    beginning of year $872,980 · end of year $2,200,774

  • 15 · Other assets

    beginning of year $3,710 · end of year $3,710

  • 17 · Accounts payable and accrued expenses

    beginning of year $159,077 · end of year $166,164

  • 19 · Deferred revenue

    beginning of year $124,730 · end of year $1,181,715

  • 23 · Secured mortgages and notes payable

    beginning of year $21,902,066 · end of year $22,397,648

  • 25 · Other liabilities

    beginning of year $1,198,347 · end of year $1,287,440

  • 27 · Net assets without donor restrictions

    beginning of year $12,284,004 · end of year $12,271,054

Mission and programs · 2022

Mission

HAWAII ISLAND COMMUNITY DEVELOPMENT CORPORATION WAS ESTABLISHED ON JULY 7, 1986, TO PROVIDE FAMILIES WITH LOW AND MODERATE INCOME WITH ADEQUATE HOUSING AND TO ACQUIRE, CONSTRUCT AND PROVIDE HOUSING RELATED ACTIVITIES.

  • HICDC HAS BEEN DEVELOPING SELF-HELP HOUSING SINCE 1992. THROUGH 2022, HICDC COMPLETED 371 HOMES FOR LOW-INCOME FAMILIES, ALMOST ALL OF WHICH ARE ON THE ISLAND OF HAWAII. HICDC ALSO WORKED WITH FAMILIES TO CLOSE 14 USDA RURAL DEVELOPMENT SECTION 502 DIRECT LOANS FOR THE HPP8 AND AINALOA PHASES 1-2 PROJECTS.

    Expenses $1,090,224 · Revenue $1,165,639

  • HICDC HAS DEVELOPED TEN SENIOR HOUSING PROJECTS FOR LOW INCOME RESIDENTS ON THE ISLAND OF HAWAII. THESE TEN PROJECTS HAVE A TOTAL OF 370 UNITS ALL OF WHICH HAVE FEDERAL RENTAL ASSISTANCE. AS OF DECEMBER 31, 2022, OTHER PROJECTS THAT WERE IN THE PIPELINE INCLUDE THE 100 UNIT KALOKO HEIGHTS APARTMENT PROJECT FOR LOW INCOME FAMILIES, AND HALE OLA O MOHOULI, A 90 UNIT RENTAL PROJECT IN HILO. IN ADDITION, HICDC IS ASSISTING OTHER NON-PROFIT ORGANIZATIONS IN REDEVELOPING THE PAPAALOA HOUSING PROJECT FOR SENIORS, ANOTHER SENIOR RENTAL PROJECT IN PAHOA, AND THE COUNTY OF HAWAII KUKUIOLA TRANSITIONAL HOUSING PROJECT IN KONA.

  • FROM 1996 THROUGH 2018, HICDC HAS DEVELOPED SIX SUBDIVISIONS FOR A TOTAL OF 174 LOTS. HICDC ALSO DEVELOPED THE HARRY AND JEANETTE WEINBERG ADULT DAY CENTER IN HILO FOR THE HAWAII ISLAND ADULT CARE AGENCY IN 2018.

As filed on the 2022 return.

Listed in Part VII

  • Guido Giacometti

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • John Ray

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Nancy Crawford

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Ross Wilson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Virginia Goldstein

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Richard Ha

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Keith Kato

    EXECUTIVE DIRECTOR

    Total calculated
    $185,744
    From this org
    $53,600
    From related orgs
    $130,000
    Other
    $2,144
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $53,600 + $130,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $53,600 + $130,000 related

  • Jeremy McComber

    CHIEF OF OPERATIONS

    Total calculated
    $118,560
    From this org
    $114,000
    From related orgs
    $0
    Other
    $4,560
    Hours/week
    40

  • Jan Makanani

    CHIEF FINANCIAL OFFICER

    Total calculated
    $115,357
    From this org
    $83,927
    From related orgs
    $28,073
    Other
    $3,357
    Hours/week
    30 + 10 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. 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

  • 2 · Substantiation required before reimbursing expenses

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.

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.

  • HAWAII COMMUNITY BUILDERS

    501(C)(3) · DEVELOP LOW AND MODERATE INCOME HOUSING · HI · controlled entity

    Directly controlled by HAWAII ISLAND COMMUNITY

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • MOHOULI COMMUNITY DEVELOPMENT LLC A HAWAII LIMITED LIABILITY CO

    PROMOTO LOW AND MODERATE INCOME HOUSING · HI · income $29,231 · assets $339,166

    Directly controlled by HAWAII ISLAND COMMUNITY DEVELOPMENT CORP

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • HUALALAI ELDERLY HOUSING LP

    RELATED · ELDERLY HOUSING · HI · 0.1% owned · share of income $15,714 · share of assets $2,936 · general or managing partner

  • HUALALAI ELDERLY HOUSING PHASE 2 LP

    RELATED · ELDERLY HOUSING · HI · 0.1% owned · share of income $8,924 · share of assets $4,274 · general or managing partner

  • HUALALAI ELDERLY HOUSING PHASE 3 LP

    RELATED · ELDERLY HOUSING · HI · 0.01% owned · share of income $47,534 · share of assets $612 · general or managing partner

  • KAMUELA SENIOR HOUSING LP

    RELATED · ELDERLY HOUSING · HI · 0.01% owned · share of income $9,072 · share of assets $481 · general or managing partner

  • 2020 KINOOLE LP

    RELATED · ELDERLY HOUSING · HI · 0.01% owned · share of income -$557,827 · share of assets $608 · general or managing partner

  • AINAKEA SENIOR RESIDENCES LLLP

    RELATED · ELDERLY HOUSING · HI · 0.01% owned · share of income $47,452 · share of assets $592 · general or managing partner

  • MOHOULI SENIOR PHASE 2 LLLP

    RELATED · ELDERLY HOUSING · HI · 0.01% owned · share of income $28,939 · share of assets $1,013 · general or managing partner

  • KALOKO HEIGHTS AFFORDABLE HOUSING LLLP

    RELATED · AFFORDABLE HOUSING · HI · 1% owned · share of assets $17,759 · general or managing partner

  • HALE OLA O MOHOULI LLLP

    RELATED · ELDERLY HOUSING · HI · 1% owned · share of assets $1,548 · general or managing partner

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • HOME CORPORATION

    C · LOW INCOME ELDERLY HOUSING DEVELOPMENT · HI · 100% owned

    Directly controlled by YES

Provenance

Return type
form_990
Tax year
2022
Filed
10 November 2023
IRS schema version
2022v5.0
Source object
202313179349310211

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