Oahu Economic Development Board
- Assets
- $1.2m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 7
- Location
- Honolulu, HI
- Founding
- 06/1984
- Data as of
- 12/2021
- EIN
- 99-0229787
Organization Overview
Oahu Economic Development Board is located in Honolulu, HI. The organization was established in 1984. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Oahu Economic Development Board employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oahu Economic Development Board 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 12/2021, Oahu Economic Development Board generated $2.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 18.5% each year . All expenses for the organization totaled $1.9m during the year ending 12/2021. While expenses have increased by 13.2% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE AND ENCOURAGE ECONOMIC GROWTH, DEVELOPMENT, AND DIVERSIFICATION WITHIN THE CITY AND COUNTY OF HONOLULU AND THE STATE OF HAWAII.
Describe the Organization's Program Activity:
HAWAI'I GREEN GROWTH IS COMMITTED TO BUILDING A MORE RESILIENT AND SUSTAINABLE FUTURE FOR HAWAI'I. HAWAI'I GREEN GROWTH SERVES AS THE BACKBONE ORGANIZATION FOR THE ALOHA+ CHALLENGE, AND COORDINATES A BROAD STAKEHOLDER BASE TO IDENTIFY AREAS FOR STATEWIDE ACTION ON HAWAI'I'S 2030 SUSTAINABILITY GOALS. THE PARTNERSHIP HONORS A COLLABORATIVE AND INTEGRATED APPROACH TO ACHIEVE ENVIRONMENTAL, SOCIAL, AND ECONOMIC PROSPERITY FOR FUTURE GENERATIONS. HAWAIIAN CULTURE AND VALUES ARE THE BEDROCK OF THE ALOHA+ CHALLENGE AND HAWAI'I GREEN GROWTH, PROVIDING A TRUST-BASED FRAMEWORK TO PROMOTE SYSTEM-LEVEL CHANGE ACROSS HAWAI'I.
OTHER PROGRAM SERVICE ACCOMPLISHMENTS INCLUDE PROVIDING SUPPORT TO THE CITY & COUNTY OF HONOLULU, THE COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY (CEDS), FISCAL AGENT FOR THE HAWAII EAST PREVENT SUICIDE TASKFORCE, AND HAWAII WEST PREVENT SUICIDE TASKFORCE.
THE MISSION OF THE BUSINESS DEVELOPMENT PROGRAM IS TO ACHIEVE HEALTHY & PROSPEROUS ECONOMIC SECTORS FOCUSING ON HAWAII'S NEEDS AND BUILDING UPON OUR UNIQUE ASSETS. THIS INITIATIVE INCLUDED LEADERSHIP ENGAGEMENT AND DEVELOPMENT, TRUST BUILDING, COMMUNITY BUILDING AND DEVELOPMENT FOR CAPACITY BUILDING TO INCREASE JOBS AND WAGES INTO THE FUTURE. THE TARGETED SECTORS AND PROGRAMS INCLUDED, COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY - CONTRACTED ASSISTANCE WITH BUSINESSES, OFFICE OF PLANNING, STATE DEPARTMENT OF BUSINESS, FISCAL AGENT FOR THE OAHU PREVENT SUICIDE TASK FORCE AND BOMA (BUILDING OWNERS AND MANAGERS ASSOCIATION OF HAWAII).$10,000 OF REVENUE WAS RECEIVED FOR THE PROFESSIONAL MENTORING AND ADVISING FOR THE CENTER FOR DIVERSE LEADERSHIP IN SCIENCE. ALSO, COORDINATION AND ORGANIZING OF THE BOARD OF DIRECTORS FOR CDLS AS INTERIM BOARD CHAIR 2022. FOR OEDB, DEVELOPMENT OF EXAMPLES OF EXPORTING KNOWLEDGE AND INNOVATION EXPERTISE AND IMPORTING MONIES TO HAWAII.
THE NEW MARKETS TAX CREDITS ("NMTC") PROGRAM PROVIDES A TAX INCENTIVE FOR PRIVATE SECTOR INVESTMENT INTO ECONOMIC DEVELOPMENT PROJECTS AND BUSINESSES LOCATED IN LOW-INCOME COMMUNITIES. THIS PROGRAM IS OVERSEEN BY U.S. DEPARTMENT OF THE TREASURY AND DIRECTLY ADMINISTERED BY THE COMMUNITY DEVELOPMENT FINANCIALS INSTITUTIONS ("CDFI") FUND. NMTCS ARE ALLOCATED BY THE CDFI FUND TO COMMUNITY DEVELOPMENT ENTITIES ("CDES"). CDES OFFER NMTCS TO INVESTORS IN EXCHANGE FOR QUALIFIED EQUITY INVESTMENTS FOR THE PURPOSE OF MAKING LOANS TO QUALIFIED ACTIVE LOW-INCOME BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Arizumi Ex-Officio Director | Trustee | 2 | $0 |
Allen B Uyeda Ex-Officio Director (1/1/22-10/1/22) | Trustee | 2 | $0 |
Catherine Ngo Ex-Officio Director | Trustee | 2 | $0 |
Colbert Matsumoto Ex-Officio Director | Trustee | 2 | $0 |
David Tumilowicz Secretary & Director | OfficerTrustee | 2 | $0 |
Greg Hazelton Director (1/1/22-7/1/22) | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $288,986 |
| All other contributions, gifts, grants, and similar amounts not included above | $711,839 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,000,825 |
| Total Program Service Revenue | $1,709,283 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,710,108 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $46,315 |
| 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. | $209,696 |
| Compensation of current officers, directors, key employees. | $3,929 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $511,331 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $122,893 |
| Payroll taxes | $72,966 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,843 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $546,932 |
| Advertising and promotion | $51,181 |
| Office expenses | $12,463 |
| Information technology | $11,834 |
| Royalties | $0 |
| Occupancy | $61,599 |
| Travel | $1,888 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $31,638 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $14,379 |
| All other expenses | -$778 |
| Total functional expenses | $1,871,622 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,222,269 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,285 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,318 |
| Total assets | $1,230,872 |
| Accounts payable and accrued expenses | $78,280 |
| 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 | $78,280 |
| Net assets without donor restrictions | $981,091 |
| Net assets with donor restrictions | $171,501 |
| 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 | $1,230,872 |