Hawaii Island Community Development Corporation
- Assets
- $37.3m
- Revenue
- $1.2m
- Investments
- $2.2m
- Employees
- 7
- Location
- Hilo, HI
- Founding
- 03/1991
- Data as of
- 12/2022
- EIN
- 99-0253076
Organization Overview
Hawaii Island Community Development Corporation is located in Hilo, HI. The organization was established in 1991. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Hawaii Island Community Development Corporation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hawaii Island Community Development Corporation 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 Island Community Development Corporation generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (8.2%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. 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
HAWAII ISLAND COMMUNITY DEVELOPMENT CORPORATION WAS ESTABLISHED ON JULY 7, 1986, TO PROVIDE FAMILIES WITH LOW AND MODERATE INCOME WITH ADEQUATE HOUSING AND TO ACQUIRE, CONSTRUCT AND PROVIDE HOUSING RELATED ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HICDC HAS BEEN DEVELOPING SELF-HELP HOUSING SINCE 1992. THROUGH 2022, HICDC COMPLETED 371 HOMES FOR LOW-INCOME FAMILIES, ALMOST ALL OF WHICH ARE ON THE ISLAND OF HAWAII. HICDC ALSO WORKED WITH FAMILIES TO CLOSE 14 USDA RURAL DEVELOPMENT SECTION 502 DIRECT LOANS FOR THE HPP8 AND AINALOA PHASES 1-2 PROJECTS.
HICDC HAS DEVELOPED TEN SENIOR HOUSING PROJECTS FOR LOW INCOME RESIDENTS ON THE ISLAND OF HAWAII. THESE TEN PROJECTS HAVE A TOTAL OF 370 UNITS ALL OF WHICH HAVE FEDERAL RENTAL ASSISTANCE. AS OF DECEMBER 31, 2022, OTHER PROJECTS THAT WERE IN THE PIPELINE INCLUDE THE 100 UNIT KALOKO HEIGHTS APARTMENT PROJECT FOR LOW INCOME FAMILIES, AND HALE OLA O MOHOULI, A 90 UNIT RENTAL PROJECT IN HILO. IN ADDITION, HICDC IS ASSISTING OTHER NON-PROFIT ORGANIZATIONS IN REDEVELOPING THE PAPAALOA HOUSING PROJECT FOR SENIORS, ANOTHER SENIOR RENTAL PROJECT IN PAHOA, AND THE COUNTY OF HAWAII KUKUIOLA TRANSITIONAL HOUSING PROJECT IN KONA.
FROM 1996 THROUGH 2018, HICDC HAS DEVELOPED SIX SUBDIVISIONS FOR A TOTAL OF 174 LOTS. HICDC ALSO DEVELOPED THE HARRY AND JEANETTE WEINBERG ADULT DAY CENTER IN HILO FOR THE HAWAII ISLAND ADULT CARE AGENCY IN 2018.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Guido Giacometti Director | Trustee | 1 | $0 |
John Ray Vice President | OfficerTrustee | 1 | $0 |
Nancy Crawford President | OfficerTrustee | 1 | $0 |
Ross Wilson Director | Trustee | 1 | $0 |
Virginia Goldstein Secretary/treasurer | OfficerTrustee | 1 | $0 |
Richard Ha Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $852,144 |
| Investment income | $1,706 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $45,273 |
| 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 | $1,165,639 |
| 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. | $361,204 |
| Compensation of current officers, directors, key employees. | $36,120 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $224,369 |
| Pension plan accruals and contributions | $24,307 |
| Other employee benefits | $119,162 |
| Payroll taxes | $45,964 |
| 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 | $109,020 |
| Advertising and promotion | $0 |
| Office expenses | $20,273 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,782 |
| Travel | $8,538 |
| 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 | $132,297 |
| Insurance | $25,599 |
| All other expenses | $388 |
| Total functional expenses | $1,178,589 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $607,512 |
| Savings and temporary cash investments | $616,329 |
| Pledges and grants receivable | $11,470 |
| Accounts receivable, net | $3,030,260 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $19,161,526 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $10,283 |
| Net Land, buildings, and equipment | $11,662,157 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,200,774 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,710 |
| Total assets | $37,304,021 |
| Accounts payable and accrued expenses | $166,164 |
| Grants payable | $0 |
| Deferred revenue | $1,181,715 |
| 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 | $22,397,648 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,287,440 |
| Total liabilities | $25,032,967 |
| Net assets without donor restrictions | $12,271,054 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $37,304,021 |