Hawaii Homeownership Center
- Assets
- $2.3m
- Revenue
- $754.9k
- Investments
- $0.0
- Employees
- 5
- Location
- Honolulu, HI
- Founding
- 09/2003
- Data as of
- 12/2022
- EIN
- 68-0544935
Organization Overview
Hawaii Homeownership Center is located in Honolulu, HI. The organization was established in 2003. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Hawaii Homeownership Center employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hawaii Homeownership Center 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 12/2022, Hawaii Homeownership Center generated $754.9k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $624.0k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.6%) per year over the past 8 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE HAWAII HOMEOWNERSHIP CENTER WILL PROVIDE EDUCATION, INFORMATION AND SUPPORT TO CREATE SUCCESSFUL FIRST-TIME HOMEOWNERS IN HAWAII. BY ADDRESSING BARRIERS AND INCREASING RATES OF HOME OWNERSHIP, THE HOMEOWNERSHIP CENTER AIMS TO BUILD STRONGER FAMILIES AND COMMUNITIES THROUGHOUT THE STATE OF HAWAII.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE INFORMATION, EDUCATION, AND SUPPORT TO LOW TO MODERATE INCOME PERSONS AND FAMILIES IN ORDER TO CREATE SUCCESSFUL FIRST-TIME HOME OWNERS IN THE STATE. CLASSES, HOMEOWNERSHIP COACHING, AND POST-PURCHASE SERVICES ARE PROVIDED TO FULFILL THIS MISSION.FORECLOSURE PREVENTION AND RENTAL COUNSELING WAS AVAILABLE FOR DISTRESSED OWNERS AND RENTERS TO DISCUSS THEIR HOUSING CONCERNS. COUNSELING SESSIONS FOCUSED ON HOME RETENTION UNLESS OTHERWISE SPECIFIED BY THE CLIENT. HHOC CONTINUED ITS MODIFIED VERSION OF THE PROGRAM PROPOSED TO ALOHA UNITED WAY TO SUPPORT DEVELOPING FINANCIAL LITERACY SKILLS IN THE ALICE (ASSET LIMITED, INCOME CONSTRAINED, EMPLOYED) POPULATION. THE FINANCIAL CAPABILITIES PILOT PROGRAM TESTED WHAT WE THOUGHT COULD BE A SCALABLE PROGRAM MODEL OF INSTILLING POSITIVE FINANCIAL HABITS IN THE POPULATION THAT WAS 80% OR BELOW THE AREA MEDIAN INCOME. WE PROVIDED AN ONLINE MONEY MANAGEMENT WORKSHOP AND A FINANCIAL INCENTIVE (UP TO $350 SAVINGS MATCH) TO REWARD THOSE WHO SAVED AND SUBMITTED A BUDGET FOR 6 CONSECUTIVE MONTHS. THE PROGRAM WAS EXPANDED TO HSTA MEMBERS THROUGH SUPPORT FROM NAREIT HAWAII RECEIVED IN 2020.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jun Yang Chair | OfficerTrustee | 0.75 | $0 |
Russell Rasmussen Vice Chair | OfficerTrustee | 0.75 | $0 |
Karl Yoneshige Treasurer | OfficerTrustee | 0.75 | $0 |
Debra Luning Secretary | OfficerTrustee | 1 | $0 |
Carol Marx Immediate Past Chair | OfficerTrustee | 1 | $0 |
Brandon Lau Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $67,186 |
| Membership dues | $0 |
| Fundraising events | $155,544 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $464,073 |
| Noncash contributions included in lines 1a–1f | $69,352 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $686,803 |
| Total Program Service Revenue | $18,268 |
| Investment income | $51,277 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$30,463 |
| Net Income from Fundraising Events | $28,990 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $754,875 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $20,000 |
| Grants and other assistance to domestic individuals. | $877 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $87,609 |
| Compensation of current officers, directors, key employees. | $16,646 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $206,993 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $44,111 |
| Payroll taxes | $26,644 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $892 |
| Fees for services: Accounting | $65,781 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,389 |
| Fees for services: Other | $42,415 |
| Advertising and promotion | $0 |
| Office expenses | $65,372 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $28,377 |
| Travel | $2,438 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,071 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,296 |
| Insurance | $13,128 |
| All other expenses | $5,631 |
| Total functional expenses | $624,024 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,485 |
| Savings and temporary cash investments | $439,087 |
| Pledges and grants receivable | $52,996 |
| Accounts receivable, net | $157,461 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $235,389 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $11,836 |
| Net Land, buildings, and equipment | $4,220 |
| Investments—publicly traded securities | $1,336,682 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $146 |
| Total assets | $2,252,302 |
| Accounts payable and accrued expenses | $217,746 |
| 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 | $0 |
| Total liabilities | $217,746 |
| Net assets without donor restrictions | $1,912,686 |
| Net assets with donor restrictions | $121,870 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,252,302 |
Grants Awarded
Over the last fiscal year, Hawaii Homeownership Center has awarded $157,187 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
HHOC MORTGAGE PURPOSE: TO SUPPORT MORTGAGE PROGRAMS. | $107,187 |
HHOC HOUSING AND LAND TRUST PURPOSE: TO FURTHER THE ORGANIZATION'S MISSION. | $50,000 |