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← ST FRANCIS DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by ST FRANCIS DEVELOPMENT CORPORATION.

Totals

Total revenue
$106,319
Total expenses
$14,773
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$106,319
Total assets, end of year
$71,823
Total liabilities, end of year
$1,816,449
Net assets or fund balances, end of year
-$1,744,626
Program services expenses (Part IX)
$0
Management and general expenses
$14,773
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 11a · Other revenue: PARTNERSHIP MANAGEMENT

    total $106,319 · unrelated business $106,319

  • 11e · Other revenue, total

    $106,319

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $11,337 · management and general $11,337

  • 24a · Other expenses: INCOME TAX

    total $3,436 · management and general $3,436

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $21,450 · end of year $71,823

  • 25 · Other liabilities

    beginning of year $1,857,622 · end of year $1,816,449

  • 27 · Net assets without donor restrictions

    beginning of year -$1,836,172 · end of year -$1,744,626

Mission and programs · 2024

Mission

SEE SCHEDULE O.

  • ST. FRANCIS DEVELOPMENT CORPORATION WAS FORMED FOR CHARITABLE AND RELIGIOUS PURPOSES, INCLUDING, BUT NOT LIMITED TO, THE ESTABLISHMENT OF LIVING COMMUNITIES THAT PROVIDE AFFORDABLE HOUSES FOR SALE OR RENT TO SENIORS AND LOW-INCOME HOUSEHOLDS. ST. FRANCIS DEVELOPMENT CORPORATION WAS THE SPONSOR FOR FRANCISCAN VISTA EWA, A LOW INCOME SENIOR RENTAL HOUSING PROJECT.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • IVAN LUI-KWAN

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • THOMAS DENNISON

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • LYNN BABINGTON

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • KATHLEEN MORIMOTO

    PRESIDENT, CEO, DIRECTOR

    Total calculated
    $320,601
    From this org
    $0
    From related orgs
    $301,290
    Other
    $19,311
    Hours/week
    2 + 52 related

    Schedule J breakdown matched by us

    Base
    $0 + $301,290 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $19,311 related
    Filer's total
    $0 + $320,601 related

  • CRAIG SHANER

    TREASURER

    Total calculated
    $223,288
    From this org
    $0
    From related orgs
    $199,045
    Other
    $24,243
    Hours/week
    2 + 56 related

    Schedule J breakdown matched by us

    Base
    $0 + $199,045 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,871 related
    Nontaxable benefits
    $0 + $18,372 related
    Filer's total
    $0 + $223,288 related

  • LAURIE RASMUSSEN

    VICE PRESIDENT

    Total calculated
    $172,826
    From this org
    $0
    From related orgs
    $155,137
    Other
    $17,689
    Hours/week
    2 + 52 related

    Schedule J breakdown matched by us

    Base
    $0 + $155,137 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $17,689 related
    Filer's total
    $0 + $172,826 related

  • SUSAN HARAMOTO

    ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 52 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

None.

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)

PART I, LINE 3
KATHLEEN MORIMOTO, OFFICER, IS COMPENSATED BY A RELATED ORGANIZATION, ST. FRANCIS HEALTHCARE SYSTEM OF HAWAII (SFHS), IN THE CURRENT YEAR. HER COMPENSATION IS DETERMINED AND APPROVED BY THE GOVERNANCE COMMITTEE, WHICH IS A SUB-COMMITTEE OF SFHS BOARD OF DIRECTORS.

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.

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.

Related partnerships

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

  • FRANCISCAN VISTAS EWA LP

    INVESTMENT · SR HOUSING RENTAL · HI · 0.01% owned · share of assets $2,187,483 · general or managing partner

    Directly controlled by FVE AFFORDABLE LLC

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2024
Filed
4 May 2026
IRS schema version
2024v5.5
Source object
202601259349300200

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