Hhoc Mortgage
- Assets
- $2.9m
- Revenue
- $542.4k
- Investments
- $0.0
- Employees
- 5
- Location
- Honolulu, HI
- Founding
- 08/2010
- Data as of
- 12/2020
- EIN
- 27-1240023
Organization Overview
Hhoc Mortgage is located in Honolulu, HI. The organization was established in 2010. According to its NTEE Classification (L82) the organization is classified as: Housing Expense Reduction Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Hhoc Mortgage employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hhoc Mortgage is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Hhoc Mortgage generated $542.4k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.8% each year . All expenses for the organization totaled $412.1k during the year ending 12/2020. While expenses have increased by 7.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST LOW TO MODERATE INCOME HOME BUYERS IN HAWAII WITH DOWN PAYMENT ASSISTANCE, AND AFFORDABLE FINANCING. HHOC MORTGAGE IS DEDICATED TO OFFERING AFFORDABLE MORTGAGE LOANS TO HAWAII'S HOMEBUYERS THAT ARE COMPETITIVELY PRICED. HHOC MORTGAGE PRIMARILY SERVES LOW AND MODERATE INCOME TARGET MARKETS AND COMMUNITIES. HHOC MORTGAGE ALSO PROVIDES FINANCIAL SUPPORT TO HAWAII HOMEOWNERSHIP CENTER TO ENABLE CONTINUANCE OF ITS MISSION TO PROVIDE PROSPECTIVE HOMEBUYERS WITH FINANCIAL EDUCATION AND COACHING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HHOC MORTGAGE (HHOCM) STRIVES TO SERVE ITS PRIMARY MISSION OF SERVING THE LOW/MODERATE INCOME, FIRST-TIME HOME BUYERS BY PROVIDING THEM WITH THE MOST AFFORDABLE FINANCING PROGRAM(S) AVAILABLE. ADDITIONALLY, HHOCM'S PURPOSE IS TO GENERATE EXCESS REVENUES TO ASSIST IN SUSTAINING ITS AFFILIATE, HAWAII HOMEOWNERSHIP CENTER.OUR PRIMARY PROGRAM SERVICE IS OFFERING FIRST MORTGAGES.OUR SECONDARY PROGRAM SERVICES IS PROVIDING DOWN PAYMENT ASSISTANCE LOANS (SECOND MORTGAGES) THROUGH OUR PORTFOLIO OR THROUGH ARRANGEMENT WITH PARTNERING CREDIT UNIONS.THE LAST PROGRAM SERVICE WE OFFER IS DEFERRED DOWN PAYMENT AND CLOSING COST LOANS BETWEEN $5,000-10,000 TO INCOME QUALIFIED, FIRST-TIME BUYERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Nagata Treasurer/secretary | OfficerTrustee | 0.25 | $0 |
Michael Miller Vice President | OfficerTrustee | 0.25 | $0 |
Dawn Robinson-Naya President | OfficerTrustee | 0.5 | $0 |
Reina Miyamoto Executive Director | Officer | 10 | $0 |
Mark Kimoto Director | Trustee | 0.25 | $0 |
Robert Chow Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $194,708 |
| Investment income | $2,469 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$108 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $542,379 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $225,645 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $21,499 |
| Payroll taxes | $20,706 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,201 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $175 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $101,569 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,631 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,693 |
| Interest | $3,393 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,029 |
| Insurance | $13,604 |
| All other expenses | $0 |
| Total functional expenses | $412,145 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,097,941 |
| Savings and temporary cash investments | $125,682 |
| Pledges and grants receivable | $10,964 |
| Accounts receivable, net | $511 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,665,045 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $12,644 |
| Investments—publicly traded securities | $26,618 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,943,127 |
| Accounts payable and accrued expenses | $27,593 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $366,391 |
| Total liabilities | $393,984 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $2,549,143 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hhoc Mortgage has recieved totaling $10.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $10 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Low Income Investment Fund San Francisco, CA | $611,936,079 | $85,259,103 |
Stovall Development Corporation Los Angeles, CA | $15,224,162 | $3,956,852 |
Neighborhood Housing Services Of The Inland Empire Inc San Bernardino, CA | $6,288,165 | $1,968,201 |
Shared Housing And Resource Exchange California Santa Rosa, CA | $388,408 | $771,294 |
Affordable Housing Clearinghouse Lake Forest, CA | $1,947,604 | $540,630 |
Hhoc Mortgage Honolulu, HI | $2,943,127 | $542,379 |
Five Rivers Loan Fund Inc Happy Camp, CA | $1,465,568 | $158,853 |
Greenline Housing Foundation Pasadena, CA | $87,704 | $0 |
Smart Share Housing Solutions Inc San Luis Obispo, CA | $83,313 | $0 |
Essential Housing Fund Inc Larkspur, CA | $86,152 | $0 |
Quality Housing Development Corporation Auburn, CA | $274,444 | $29,877 |
Orange County Housing Trust Inc Orange, CA | $7,382,082 | $165,227 |