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← NEIGHBORHOOD HOUSING COMMUNITY DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by NEIGHBORHOOD HOUSING COMMUNITY DEVELOPMENT CORPORATION.

Totals

Total revenue
$1,043,895
Total expenses
$1,523,085
Contributions and grants received
$485,875
Grants paid
$0
Program service revenue
$672,052
Investment income
-$114,052
Other revenue
$20
Total assets, end of year
$10,864,663
Total liabilities, end of year
$2,094,765
Net assets or fund balances, end of year
$8,769,898
Program services expenses (Part IX)
$1,232,649
Management and general expenses
$239,888
Fundraising expenses
$50,548
Program service expenses (Part III)
$1,232,649

Program services were 80.9% 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

    $485,875

  • 2a · Program service revenue: RENTAL INCOME

    total $535,968 · related or exempt $535,968

  • 2b · Program service revenue: WASHER AND DRYER

    total $136,084 · related or exempt $136,084

  • 3 · Investment income

    total $41,425 · excluded $41,425

  • 7a · Gross sales of assets other than inventory

    securities $137,869

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

    securities $293,346

  • 7c · Gain or loss

    securities -$155,477

  • 7d · Net gain or loss

    total -$155,477 · excluded -$155,477

  • 11a · Other revenue: OTHER INCOME

    total $20 · related or exempt $20

  • 11e · Other revenue, total

    $20

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $67,265 · program services $57,175 · management and general $6,727 · fundraising $3,363

  • 7 · Other salaries and wages

    total $690,095 · program services $586,580 · management and general $69,010 · fundraising $34,505

  • 9 · Other employee benefits

    total $52,605 · program services $44,714 · management and general $5,261 · fundraising $2,630

  • 10 · Payroll taxes

    total $103,251 · program services $87,763 · management and general $10,325 · fundraising $5,163

  • 11b · Fees: legal

    total $3,841 · program services $3,265 · management and general $384 · fundraising $192

  • 11c · Fees: accounting

    total $11,974 · program services $10,178 · management and general $1,197 · fundraising $599

  • 11g · Fees: other

    total $81,913 · program services $69,626 · management and general $8,191 · fundraising $4,096

  • 12 · Advertising and promotion

    total $895 · program services $895

  • 13 · Office expenses

    total $43,434 · program services $33,084 · management and general $10,350

  • 16 · Occupancy

    total $200,526 · program services $150,211 · management and general $50,315

  • 17 · Travel

    total $581 · program services $581

  • 19 · Conferences, conventions and meetings

    total $350 · program services $350

  • 20 · Interest

    total $10 · program services $10

  • 22 · Depreciation, depletion and amortization

    total $71,412 · management and general $71,412

  • 23 · Insurance

    total $47,302 · program services $47,302

  • 24a · Other expenses: INTERNET FRAUD

    total $104,030 · program services $104,030

  • 24b · Other expenses: EXCISE TAXES

    total $29,686 · program services $25,233 · management and general $4,453

  • 24c · Other expenses: OTHER EXPENSES

    total $4,525 · program services $2,262 · management and general $2,263

  • 24d · Other expenses: VEHICLE EXPENESS

    total $3,902 · program services $3,902

  • 24e · All other expenses

    total $5,488 · program services $5,488

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,096,107 · end of year $1,790,778

  • 2 · Savings and temporary cash investments

    beginning of year $923,844 · end of year $664,961

  • 4 · Accounts receivable

    beginning of year $1,163 · end of year $16,332

  • 9 · Prepaid expenses and deferred charges

    beginning of year $75,970 · end of year $31,607

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

    $6,308,306

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

    $128,198

  • 10c · Land, buildings and equipment, net

    beginning of year $2,719,946 · end of year $6,180,108

  • 11 · Investments: publicly traded securities

    beginning of year $944,975

  • 15 · Other assets

    beginning of year $1,601,454 · end of year $2,180,877

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,051 · end of year $3,247

  • 19 · Deferred revenue

    beginning of year $32,540 · end of year $32,655

  • 23 · Secured mortgages and notes payable

    beginning of year $1,930,000 · end of year $1,930,000

  • 25 · Other liabilities

    beginning of year $162,043 · end of year $128,863

  • 27 · Net assets without donor restrictions

    beginning of year $9,090,365 · end of year $8,624,898

  • 28 · Net assets with donor restrictions

    beginning of year $147,460 · end of year $145,000

Mission and programs · 2023

Mission

TO PROVIDE HOMES AND SUSTAINABLE LIVING SOLUTIONS, WITHIN REACH, AND RESTORING HOPE TO THE PEOPLE OF HAWAII.

  • THE BEYOND HOUSING PROGRAM (BHP) PROVIDES SUPPORTIVE SERVICES TO ALL PAL RENTAL TENANTS, HELPING THEM MAINTAIN HOUSING STABILITY AND IMPROVING THEIR ECONOMIC AND SOCIAL MOBILITY. THE BHP BEGAN IN FEBRUARY 2022 WITH THE ACQUISITION AND REHABILITATION OF PAL'S KAUHALE O KEKAHA APARTMENT COMMUNITY. PAL FOCUSED THIS 13-UNIT COMPLEX ON SERVING THE HOUSELESS EARNING <50% AMI. PAL RECEIVES REFERRALS FROM ORGANIZATIONS THAT ARE PART OF THE KAUA'I COMMUNITY ALLIANCE (KCA). THE BHP EXPANDED IN JANUARY 2023 WITH THE ACQUISITION AND REHABILITATION OF PAL'S KAUHALE O KAPA'A APARTMENT COMMUNITY, ADDING ANOTHER 13 UNITS SERVING HOUSEHOLDS <120% AMI. IN 2024, PAL BUILT THE BHP CENTER AT OUR KAUHALE O KEKAHA COMPLEX TO PROVIDE A COMMUNITY SPACE TO HOST WORKSHOPS, INCLUDING A COMPUTER LAB, AND AN OFFICE FOR CASE MANAGEMENT. PAL HAS STABILIZED 12 HOUSEHOLDS FROM HOUSELESSNESS THROUGH THIS PROGRAM. IN 2022, PAL CREATED THE HO'OMALUHIA COMMUNITY LAND TRUST (HCLT), WHICH CREATES A MORE AFFORDABLE LEASEHOLD HOMEOWNERSHIP OPTION, KEEPS HOUSING UNITS IN THE AFFORDABILITY STOCK, AND ENSURES THE DONATIONS INVESTED IN BUILDING HOMES MAKE AN IMPACT FOR GENERATIONS. PAL RETAINS OWNERSHIP OF THE LAND, AND THE HOMEOWNER ENTERS A 99-YEAR RENEWABLE LAND LEASE WITH RESALE RESTRICTIONS THAT KEEP THE HOME AFFORDABLE FOR FUTURE BUYERS.

    Expenses $1,232,649 · Revenue $672,072

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • James Edmonds

    EXEC. DIRECT

    Total calculated
    $39,750
    From this org
    $39,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Lawrence Graff

    COO/VICE PRE

    Total calculated
    $27,515
    From this org
    $27,515
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Leilani Spencer

    PRESIDENT

    Total calculated
    $0
    Hours/week
    8

  • Harvest Edmonds

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Glenn Head

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Puna Dawson

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Janice Bond

    MEMBER

    Total calculated
    $0
    Hours/week
    0

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.

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.0
Source object
202403199349317620

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