Maui Economic Development Board Inc Medb
- Assets
- $11.0m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 24
- Location
- Kihei, HI
- Founding
- 03/1984
- Data as of
- 06/2022
- EIN
- 99-0226377
Organization Overview
Maui Economic Development Board Inc Medb is located in Kihei, HI. The organization was established in 1984. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Maui Economic Development Board Inc Medb employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maui Economic Development Board Inc Medb 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 06/2022, Maui Economic Development Board Inc Medb generated $4.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $4.5m during the year ending 06/2022. While expenses have increased by 2.2% per year over the past 7 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LEADERSHIP AND VISION IN OUR COMMUNITY FOR THE RESPONSIBLE DESIGN AND DEVELOPMENT OF A STRONG SUSTAINABLE, AND DIVERSIFIED ECONOMY FOR MAUI COUNTY.
Describe the Organization's Program Activity:
WORKFORCE DEVELOPMENT: THE WOMEN IN TECHNOLOGY (WIT) PROGRAM IS FOCUSED ON STRENGTHENING THE EDUCATION PIPELINE BY ENGAGING GIRLS, WOMEN AND TRADITIONALLY UNDERREPRESENTED GROUPS IN SCIENCE AND TECHNOLOGY, ENGINEERING AND MATH ACTIVITIES AND CAREER PATHWAYS TO CREATE THE FUTURE WORKFORCE. WIT'S INNOVATIVE APPROACHES IN SERVICE-BASED LEARNING, INTERNSHIPS, MENTORING AND JOB-SHADOWING COUPLED WITH REGULAR PROFESSIONAL DEVELOPMENT, RECRUITMENT AND TECHNICAL ASSISTANCE SERVES OVER 35,000 STUDENTS, EDUCATORS AND BUSINESSES STATEWIDE.
BUSINESS DEVELOPMENT/OUTREACH: THE ORGANIZATION TARGETS AND ASSISTS EXISTING AND EMERGING BUSINESSES IN ASTRONOMY/OPTICS, INFORMATION SYSTEMS, HEALTH CARE, RENEWABLE ENERGY AND AGRI-TECHNOLOGY. THESE SECTORS ALL BENEFIT FROM MAUI COUNTY'S NATURAL AND MAN-MADE ASSETS AND GENERATE ACTIVITIES THAT OFFER NEW CAREER OPTIONS FOR RESIDENTS. BUSINESS DEVELOPMENT STRATEGIES INCLUDE ONE-ON-ONE CONSULTATIONS, TECHNICAL CONFERENCES, PUBLIC RELATIONS AND AWARENESS TOOLS AND EXHIBITIONS.
CIVIC ENGAGEMENT AND EDUCATION: THE ORGANIZATION WORKS TO ENGAGE MAUI RESIDENTS IN DECISIONS ABOUT MAUI'S ECONOMY. WORKING WITH ADULTS AND YOUTHS, THIS PROGRAM LAYS THE FOUNDATION FOR A HEALTHY ECONOMY BY EQUIPPING OUR RESIDENTS WITH THE RESOURCES AND SKILLS TO TAKE ACTION TO MAKE SOUND DECISIONS ABOUT THEIR LIVES, COMMUNITY AND THE ECONOMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leslie Wilkins President & CEO | OfficerTrustee | 40 | $138,000 |
Saedene Ota Chair | OfficerTrustee | 0.3 | $0 |
Tiare Martin Vice Chair | OfficerTrustee | 0.3 | $0 |
Robert Kawahara Treasurer | OfficerTrustee | 0.3 | $0 |
Mike Maberry Secretary | OfficerTrustee | 0.3 | $0 |
Rosalyn Baker Director | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $79,950 |
| Fundraising events | $85,750 |
| Related organizations | $0 |
| Government grants | $2,750,417 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,022,162 |
| Noncash contributions included in lines 1a–1f | $70,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,938,279 |
| Total Program Service Revenue | $526,004 |
| Investment income | $19,544 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $30,281 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$77,329 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,443,692 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $160,149 |
| Compensation of current officers, directors, key employees. | $40,886 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,096,863 |
| Pension plan accruals and contributions | $69,867 |
| Other employee benefits | $213,273 |
| Payroll taxes | $103,277 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $979,569 |
| Advertising and promotion | $431,870 |
| Office expenses | $220,233 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $69,947 |
| Travel | $72,610 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,393 |
| Insurance | $18,437 |
| All other expenses | $0 |
| Total functional expenses | $4,454,057 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,215,759 |
| Savings and temporary cash investments | $641,373 |
| Pledges and grants receivable | $796,097 |
| Accounts receivable, net | $60,004 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $135,188 |
| Net Land, buildings, and equipment | $6,903,220 |
| Investments—publicly traded securities | $158,743 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $103,334 |
| Total assets | $11,013,718 |
| Accounts payable and accrued expenses | $378,101 |
| Grants payable | $0 |
| Deferred revenue | $1,283,856 |
| 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 | $5,064,822 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $56,654 |
| Total liabilities | $6,783,433 |
| Net assets without donor restrictions | $3,965,539 |
| Net assets with donor restrictions | $264,746 |
| 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 | $11,013,718 |