Kauai Economic Development Board Inc
- Assets
- $1.4m
- Revenue
- $269.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Lihue, HI
- Founding
- 06/1985
- Data as of
- 12/2021
- EIN
- 99-0231581
Organization Overview
Kauai Economic Development Board Inc is located in Lihue, HI. The organization was established in 1985. 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 12/2021, Kauai Economic Development Board Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kauai Economic Development Board Inc 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, Kauai Economic Development Board Inc generated $269.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.1%) each year. All expenses for the organization totaled $749.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.7%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP INNOVATIVE, EFFECTIVE PARTNERSHIPS WITH PUBLIC, PRIVATE, NON-PROFIT, AND OTHER COMMUNITY SECTORS TO ACCOMPLISH SHARED GOALS FOR A STRONG ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MISCELLANEOUS GOVERNMENT GRANTS AWARDED FOR THE DESIGN AND PERFORMANCE OF PROGRAMS AND PROJECTS THAT ENCOURAGE EDUCATION AND WORKFORCE DEVELOPMENT AND STIMULATE ECONOMIC DEVELOPMENT ON KAUAI.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan Chun Director At Large/chair | OfficerTrustee | 8 | $0 |
Leland Kahawai Director/treasurer | OfficerTrustee | 6 | $0 |
Fred Cowell Director/vice Chair | OfficerTrustee | 6 | $0 |
Jason Bryant Director/secretary | OfficerTrustee | 6 | $0 |
Patrick Ono Director At Large/s & T Chair | OfficerTrustee | 2 | $0 |
Sue Kanoho Director/membership Chair | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $59,750 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $369,249 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $428,999 |
| Total Program Service Revenue | $47,580 |
| Investment income | $72 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$209,778 |
| 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 | $269,382 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $87,415 |
| Pension plan accruals and contributions | $570 |
| Other employee benefits | $12,168 |
| Payroll taxes | $6,583 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,737 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,790 |
| Advertising and promotion | $0 |
| Office expenses | $17,095 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $259,660 |
| Travel | $344 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,771 |
| Interest | $354 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $110,437 |
| Insurance | $17,140 |
| All other expenses | -$378,431 |
| Total functional expenses | $748,955 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $174,190 |
| Savings and temporary cash investments | $110,101 |
| Pledges and grants receivable | $10,252 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,294 |
| Prepaid expenses and deferred charges | $10,194 |
| Net Land, buildings, and equipment | $1,116,679 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,422,710 |
| Accounts payable and accrued expenses | $22,716 |
| Grants payable | $0 |
| Deferred revenue | $2,416 |
| 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 | $19,353 |
| Total liabilities | $44,485 |
| Net assets without donor restrictions | $527,094 |
| Net assets with donor restrictions | $851,131 |
| 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 | $1,422,710 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Kauai Economic Development Board Inc has recieved totaling $120,000.
| Awarding Organization | Amount |
|---|---|
Harold K L Castle Foundation Kailua, HI PURPOSE: CREATE AN INTEGRATED EMPLOYER-EDUCATION SYSTEM THAT INTRODUCES ALL KAUAI HIGH SCHOOL STUDENTS TO THE WORLD OF WORK THROUGH PROGRESSIVE WORK THROUGH PROGRESSIVE WORK-BASED LEARNING OPPORTUNITIES [4682; PC] | $100,000 |
George N Wilcox General Trust Honolulu, HI PURPOSE: KEEPER OF THE CULTURE: E OLA NA MOOLELO (GIVE LIFE TO OUR STORIES) 2020 (01/01/2020 12/31/2020) | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
San Diego Convention And Tourist Bureau San Diego, CA | $10,248,135 | $28,266,235 |
Cdc Small Business Finance Corp San Diego, CA | $123,395,668 | $31,738,512 |
Mission Economic Development Agency San Francisco, CA | $193,556,070 | $20,206,962 |
San Francisco Travel Association San Francisco, CA | $17,687,275 | $15,738,684 |
Citadel Economic Development Corporation San Bernardino, CA | $7,215,242 | $16,438,545 |
Long Beach Area Convention And Visitors Bureau Inc Long Beach, CA | $4,784,571 | $9,189,036 |
San Luis Obispo Visitors & Conference Bureau Incorporated San Luis Obispo, CA | $7,302,521 | $9,818,447 |
Smcu Community Fund Redwood City, CA | $1,513,371 | $6,964,137 |
Maui Economic Development Board Inc Medb Kihei, HI | $10,649,362 | $7,742,311 |
Santa Monica Travel & Tourism Santa Monica, CA | $2,868,308 | $7,126,411 |
Providence Foundation Of San Francisco San Francisco, CA | $2,572,916 | $7,012,697 |
La Cocina Inc San Francisco, CA | $10,601,250 | $8,307,558 |