Form 990 for tax year 2023

Filed by HAWAII INVESTMENT READY.

What the amendment changed

Compared with the return it replaced , filed 13 November 2024 — the latest of 2 it replaced. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total expenses: $920,181 changed to $925,462
Total liabilities, end of year: $180,202 changed to $188,201
Net assets or fund balances, end of year: $1,390,179 changed to $1,382,180
Program services expenses: $766,487 changed to $758,712
Management and general expenses: $153,694 changed to $166,750
Program service expenses (Part III): $766,487 changed to $758,712

Totals

Total revenue: $1,669,918
Total expenses: $925,462
Contributions and grants received: $1,650,910
Grants paid: $100,549
Program service revenue: $7,500
Investment income: $11,508
Other revenue: $0
Total assets, end of year: $1,570,381
Total liabilities, end of year: $188,201
Net assets or fund balances, end of year: $1,382,180
Program services expenses (Part IX): $758,712
Management and general expenses: $166,750
Fundraising expenses: $0
Program service expenses (Part III): $758,712

Program services were 82.0% 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.

1a · Federated campaigns

$0
1b · Membership dues

$0
1c · Fundraising events

$0
1d · Related organizations

$0
1e · Government grants (contributions)

$0
1f · All other contributions, gifts and grants

$1,650,910
1g · Noncash contributions included above

$0
2a · Program service revenue: Program Fees

total $7,500 · related or exempt $7,500 · unrelated business $0 · excluded $0
2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
3 · Investment income

total $11,508 · related or exempt $11,508 · unrelated business $0 · excluded $0
4 · Income from investment of tax-exempt bond proceeds

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
5 · Royalties

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
6c · Rental income or loss

real property $0 · personal property $0
7c · Gain or loss

securities $0 · other assets $0
8a · Fundraising events: contributions included on line 1c

$0
11d · All other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11e · Other revenue, total

$0

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $100,549 · program services $100,549
5 · Compensation of officers, directors and key employees

total $174,312 · program services $147,439 · management and general $26,873
6 · Compensation of disqualified persons

total $0
7 · Other salaries and wages

total $259,637 · program services $202,591 · management and general $57,046
9 · Other employee benefits

total $22,516 · program services $17,979 · management and general $4,537
10 · Payroll taxes

total $47,838 · program services $36,508 · management and general $11,330
11a · Fees: management

total $5,706 · program services $2,717 · management and general $2,989
11b · Fees: legal

total $4,753 · program services $4,753
11c · Fees: accounting

total $5,281 · management and general $5,281
11g · Fees: other

total $117,023 · program services $98,815 · management and general $18,208
12 · Advertising and promotion

total $11,089 · program services $4,641 · management and general $6,448
13 · Office expenses

total $4,600 · program services $24 · management and general $4,576
14 · Information technology

total $13,607 · program services $8,172 · management and general $5,435
16 · Occupancy

total $3,523 · program services $3,523
17 · Travel

total $104,450 · program services $102,960 · management and general $1,490
20 · Interest

total $13,253 · management and general $13,253
24a · Other expenses: Program Supplies

total $15,201 · program services $14,110 · management and general $1,091 · fundraising $0
24b · Other expenses: Professional Development

total $14,108 · program services $6,203 · management and general $7,905 · fundraising $0
24c · Other expenses: Business Fees

total $516 · program services $228 · management and general $288 · fundraising $0
24e · All other expenses

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

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $556,466 · end of year $1,221,389
4 · Accounts receivable

beginning of year $7,542 · end of year $0
7 · Other notes and loans receivable

beginning of year $245,203 · end of year $37,992
13 · Investments: program-related

end of year $311,000
17 · Accounts payable and accrued expenses

beginning of year $21,587 · end of year $38,201
18 · Grants payable

beginning of year $0
19 · Deferred revenue

beginning of year $0
20 · Tax-exempt bond liabilities

beginning of year $0
24 · Unsecured notes and loans payable

beginning of year $149,900 · end of year $150,000
25 · Other liabilities

end of year $0
27 · Net assets without donor restrictions

beginning of year $490,189 · end of year $874,284
28 · Net assets with donor restrictions

beginning of year $147,535 · end of year $507,896

Mission and programs · 2023

Mission

Education and capacity building for both the entrepreneurs and funders (philanthropy, government, and private) that are collectively addressing social and environmental challenges in Hawaii.

Activities or mission (Part I)

Education and capacity building for social for profits and nonprofits, and for government, philanthropy, and the private sector addressing social and environmental challenges in Hawaii.

Hawaii Investment Ready Cohort Program. Capacity building and technical assistance through direct and virtual engagement and teaching in a cohort setting for Hawaii for profit and nonprofit social enterprises working to solve social and environmental challenges. Business coaching for cohort and program alumni post-program, year round.

Expenses $294,351 · Revenue $7,500
Fiscal Sponsorships - Fiscal sponsorship offering our legal and tax-exempt status to non-profit organizations- with aligned project or engaged in activities related to the our mission.The arrangement is contractual. Farmlink, Kukulu, Ukoa Cohort

Expenses $197,372 · Grants $100,549
Capital Deployment - In 2023, HIR created a catalytic capital impact debt fund, the Aina Aloha Economy Fund ("Fund"), in response to insights gleaned from its Hawaii Capital Scan research project in 2022. The Fund aims to address a capital gap for Hawaii-based social entrepreneurs in accessing aligned capital needed to scale. HIR created a wholly-owned subsidiary LLC as a special purpose vehicle for the Fund. HIR also manages 3 other Program Related Investments into Hawaii-based social entrepreneurs that have completed its social enterprise accelerator program.

Expenses $113,396
The remaining programs include Direct Support, Partnership & Partner Support, and Research & Narrative Shifting. Direct Support includes technical assistance and consulting for Hawaii-based social entrepreneurs. Partnership & Partner Support includes staff time to engage with other organizations and efforts aligned around social enterprise economic development and impact investing in Hawaii. Research & Narrative Shifting includes a research program called the Hawaii Capital Scan as well as strategic communications to strengthen the field of impact investing and social enterprise economic development in Hawaii

Expenses $153,593

As filed on the 2023 return.

Listed in Part VII

Keoni Lee

CEO/Director

Total calculated

$174,313

From this org

$174,313

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$174,313

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$0

Filer's total

$174,313
Lisa Kleissner

Board President

Total calculated

$0

Hours/week

30
Neil Hannahs

Board Secretary/Treasurer

Total calculated

$0

Hours/week

5

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

The filer's explanations (Part III)

Schedule J, Part I, Line 3: The Board approves compensation changes for the CEO.

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

Farm Link Hawaii

$86,250

In support of Farm Link's Equitable Access & Supply Building Program.
Aloha United Way

$14,299

Transfer of Program and assets for Kukulu Switchboard a program which facilitates and advocates for equitable, responsive resourcing of the community innovators solving social and environmental problems in Hawai'i.

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.

'AINA ALOHA ECONOMY FUND LLC

Catalytic capital impact fund supporting Hawaii-based social enterprises · HI · income $0 · assets $100,000

Directly controlled by HAWAII INVESTMENT READY

Provenance

Return type: form_990
Tax year: 2023
Filed: 13 November 2024
IRS schema version: 2023v6.0
Source object: 202631989349301633

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