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Nonprofiteer
← HAWAII ISLAND COMMUNITY DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by HAWAII ISLAND COMMUNITY DEVELOPMENT CORPORATION.

Totals

Total revenue
$2,216,497
Total expenses
$1,289,867
Contributions and grants received
$1,010,000
Grants paid
$0
Program service revenue
$1,104,428
Investment income
$69,219
Other revenue
$32,850
Total assets, end of year
$43,362,369
Total liabilities, end of year
$30,164,685
Net assets or fund balances, end of year
$13,197,684
Program services expenses (Part IX)
$1,189,280
Management and general expenses
$100,587
Fundraising expenses
$0
Program service expenses (Part III)
$1,189,280

Program services were 92.2% 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

    $1,010,000

  • 2a · Program service revenue: ELDERLY PROJECTS SERVI

    total $462,159 · related or exempt $462,159

  • 2b · Program service revenue: TECHNICAL ASSISTANCE U

    total $374,790 · related or exempt $374,790

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

    total $267,479 · related or exempt $267,479

  • 3 · Investment income

    total $69,219 · excluded $69,219

  • 6a · Gross rents

    personal property $32,850

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $32,850

  • 6d · Net rental income or loss

    total $32,850 · related or exempt $32,850

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $276,398 · program services $248,758 · management and general $27,640

  • 7 · Other salaries and wages

    total $433,831 · program services $390,448 · management and general $43,383

  • 8 · Pension plan contributions

    total $28,409 · program services $25,568 · management and general $2,841

  • 9 · Other employee benefits

    total $105,316 · program services $94,784 · management and general $10,532

  • 10 · Payroll taxes

    total $53,803 · program services $48,423 · management and general $5,380

  • 11g · Fees: other

    total $100,450 · program services $100,450

  • 13 · Office expenses

    total $14,840 · program services $13,357 · management and general $1,483

  • 16 · Occupancy

    total $31,121 · program services $28,009 · management and general $3,112

  • 17 · Travel

    total $8,698 · program services $7,828 · management and general $870

  • 22 · Depreciation, depletion and amortization

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

  • 23 · Insurance

    total $29,208 · program services $26,287 · management and general $2,921

  • 24a · Other expenses: PROJECT EXENSES

    total $37,782 · program services $37,782

  • 24b · Other expenses: OTHER

    total $13,465 · program services $13,465

  • 24c · Other expenses: PROFESSIONAL FEES

    total $10,969 · program services $9,872 · management and general $1,097

  • 24d · Other expenses: EQUIPMENT RENTAL & MAIN

    total $9,909 · program services $8,918 · management and general $991

  • 24e · All other expenses

    total $3,371 · program services $3,034 · management and general $337

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $607,512 · end of year $862,102

  • 2 · Savings and temporary cash investments

    beginning of year $616,329 · end of year $3,364,508

  • 3 · Pledges and grants receivable

    beginning of year $11,470 · end of year $0

  • 4 · Accounts receivable

    beginning of year $3,030,260 · end of year $976,392

  • 7 · Other notes and loans receivable

    beginning of year $19,161,526 · end of year $19,840,735

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,283 · end of year $12,593

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

    $15,716,027

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

    $655,373

  • 10c · Land, buildings and equipment, net

    beginning of year $11,662,157 · end of year $15,060,654

  • 12 · Investments: other securities

    beginning of year $2,200,774 · end of year $3,241,675

  • 15 · Other assets

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

  • 17 · Accounts payable and accrued expenses

    beginning of year $166,164 · end of year $3,474,721

  • 19 · Deferred revenue

    beginning of year $1,181,715 · end of year $2,212,221

  • 23 · Secured mortgages and notes payable

    beginning of year $22,397,648 · end of year $23,168,071

  • 25 · Other liabilities

    beginning of year $1,287,440 · end of year $1,309,672

  • 27 · Net assets without donor restrictions

    beginning of year $12,271,054 · end of year $13,197,684

Mission and programs · 2023

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 2023, HICDC COMPLETED 391 HOMES FOR LOW-INCOME FAMILIES, ALMOST ALL OF WHICH ARE ON THE ISLAND OF HAWAII. HICDC ALSO WORKED WITH FAMILIES TO CLOSE 12 USDA RURAL DEVELOPMENT SECTION 502 DIRECT LOANS FOR THE HPP8 AND AINALOA PHASES 1-2 PROJECTS.

    Expenses $1,189,280 · Revenue $1,137,278

  • HICDC HAS DEVELOPED 11 SENIOR HOUSING PROJECTS FOR LOW INCOME RESIDENTS ON THE ISLAND OF HAWAII. THESE 11 PROJECTS HAVE A TOTAL OF 411 UNITS ALL OF WHICH HAVE FEDERAL RENTAL ASSISTANCE. AS OF DECEMBER 31, 2023, 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 DEVELOPING A SENIOR RENTAL PROJECT IN PAHOA, AND THE COUNTY OF HAWAII KUKUIOLA TRANSITIONAL HOUSING PROJECT IN KONA.

  • FROM 1996 THROUGH 2018, HICDC HAS DEVELOPED SEVEN 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 2023 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
    $191,316
    From this org
    $55,208
    From related orgs
    $133,900
    Other
    $2,208
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $55,208 + $133,900 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $55,208 + $133,900 related

  • Jeremy McComber

    CHIEF OF OPERATIONS

    Total calculated
    $130,943
    From this org
    $125,842
    From related orgs
    $0
    Other
    $5,101
    Hours/week
    40

  • Jan Makanani

    CHIEF FINANCIAL OFFICER

    Total calculated
    $128,125
    From this org
    $95,348
    From related orgs
    $28,915
    Other
    $3,862
    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 $30,130 · assets $3,313

    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 $42,618 · share of assets $2,873 · general or managing partner

  • HUALALAI ELDERLY HOUSING PHASE 2 LP

    RELATED · ELDERLY HOUSING · HI · 0.1% owned · share of income $20,490 · share of assets $4,160 · general or managing partner

  • HUALALAI ELDERLY HOUSING PHASE 3 LP

    RELATED · ELDERLY HOUSING · HI · 0.01% owned · share of income $53,763 · share of assets $602 · general or managing partner

  • KAMUELA SENIOR HOUSING LP

    RELATED · ELDERLY HOUSING · HI · 0.01% owned · share of income $53,544 · share of assets $475 · general or managing partner

  • 2020 KINOOLE LP

    RELATED · ELDERLY HOUSING · HI · 0.01% owned · share of income -$537,661 · share of assets $591 · general or managing partner

  • AINAKEA SENIOR RESIDENCES LLLP

    RELATED · ELDERLY HOUSING · HI · 0.01% owned · share of income $50,087 · share of assets $580 · general or managing partner

  • MOHOULI SENIOR PHASE 2 LLLP

    RELATED · ELDERLY HOUSING · HI · 0.01% owned · share of income $29,811 · share of assets $992 · general or managing partner

  • KALOKO HEIGHTS AFFORDABLE HOUSING LLLP

    RELATED · AFFORDABLE HOUSING · HI · share of income $7 · general or managing partner

  • HALE OLA O MOHOULI LLLP

    RELATED · ELDERLY HOUSING · HI · 1% owned · share of assets $1,576 · 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
2023
Filed
1 November 2024
IRS schema version
2023v5.1
Source object
202433129349304323

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