Hawaii Community Reinvestment Corp
- Assets
- $3.7m
- Revenue
- $403.6k
- Investments
- $0.0
- Employees
- 1
- Location
- Honolulu, HI
- Founding
- 10/1995
- Data as of
- 12/2022
- EIN
- 99-0282148
Organization Overview
Hawaii Community Reinvestment Corp is located in Honolulu, HI. The organization was established in 1995. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hawaii Community Reinvestment Corp 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 Community Reinvestment Corp generated $403.6k 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 (22.2%) each year. All expenses for the organization totaled $325.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (12.4%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Hawaii Community Reinvestment Corp has awarded 41 individual grants totaling $1,013,042. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE CORPORATION IS TO PROVIDE INNOVATIVE FINANCING, TRAINING, AND CONSULTING SERVICES TO PUBLIC AND PRIVATE ORGANIZATIONS WHO ENGAGE IN BUILDING LIVABLE COMMUNITIES IN HAWAII.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HCRC AND SUBSIDIARIES HAVE ASSISTED 3,508 AFFORDABLE RENTAL HOUSING UNITS WITH FUNDING OF 205.5 MILLION THROUGH ITS AFFORDABLE HOUSING LOAN PARTICIPATION PROGRAM, PROVIDED 7 BUSINESS LOANS TOTALING 3.6 MILLION THROUGH THE SBA 504 LOAN PROGRAM, PROVIDED 22 BUSINESS LOANS TOTALING 2,206,138 DIRECTLY TO NONPROFIT AND SMALL BUSINESSES, AND PROVIDED 203 ENERGY EFFICIENCY LOANS TOTALING 4.8 MILLION THROUGH THE DBEDT GREENSUN LOAN LOSS RESERVE PROGRAM. IN 2022, 500,000 IN FINANCING WAS PROVIDED FOR PRE-DEVELOPMENT OF 66 AFFORDABLE HOUSING UNITS AND 50,000 IN FINANCING WAS PROVIDED FOR CRITICAL HOME REPAIRS OF 6 AFFORDABLE HOMES. HCRC GRANTED 789,474 TO THE UNIVERSITY OF HAWAII FOUNDATION TO FUND AN ENDOWMENT TO ESTABLISH THE HAWAII COMMUNITY REINVESTMENT CORPORATION DISTINGUISHED PROFESSORSHIP IN AFFORDABLE HOUSING, ADMINISTERED A PASSTHROUGH GRANT IN THE AMOUNT OF 1,983,950 FOR HUD AND C&C HONOLULU TO A NONPROFIT FOR PRESERVATION OF AFFORDABLE HOUSING IN TOD DISTRICT, AND ADMINSTERED 153 PASSTHROUGH GRANTS TOTALING 1,833,759 FOR THE C&C HONOLULU MAYORS OFFICE OF CULTURE AND ARTS CARES ACT RECOVERY & RELIEF FUND PROGRAM. HCRC PROVIDES FREE FINANCIAL TECHNICAL ASSISTANCE AND TRAINING TO COMMUNITY BASED ORGANIZATIONS THROUGH INDIVIDUAL CONSULTATIONS, WEBINARS, AND CONVENINGS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bryan Luke Chairman & S | OfficerTrustee | 1 | $0 |
Scott Hayashi Treasurer/di | OfficerTrustee | 1 | $0 |
Amy Asselbaye Director | Trustee | 0.5 | $0 |
Roy Katsuda Director | Trustee | 0.5 | $0 |
Tony Mizuno Director | Trustee | 0.5 | $0 |
Darren Ueki Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $145,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $212,334 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $357,334 |
| Total Program Service Revenue | $43,804 |
| Investment income | $2,442 |
| 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 | $403,580 |
| 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. | $183,610 |
| Compensation of current officers, directors, key employees. | $47,739 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,492 |
| Payroll taxes | $11,369 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,418 |
| Fees for services: Accounting | $41,906 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,944 |
| Advertising and promotion | $1,395 |
| Office expenses | $969 |
| Information technology | $13,498 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,477 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,500 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,982 |
| All other expenses | $0 |
| Total functional expenses | $325,677 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,244,810 |
| Savings and temporary cash investments | $936,171 |
| Pledges and grants receivable | $35,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $797,469 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,265 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $705,318 |
| Total assets | $3,723,033 |
| Accounts payable and accrued expenses | $15,873 |
| 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 | $541,567 |
| Total liabilities | $557,440 |
| Net assets without donor restrictions | $3,165,593 |
| 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 | $3,723,033 |
Grants Awarded
Over the last fiscal year, Hawaii Community Reinvestment Corp has awarded $1,013,042 in support to 41 organizations.
| Grant Recipient | Amount |
|---|---|
BALLET HAWAII PURPOSE: SEE PART IV | $50,000 |
BAMBOO RIDGE PRESS PURPOSE: SEE PART IV | $7,553 |
CENTER FOR CULTURAL AND TECHNICALINTERCHANGE BETWEEN EAST & WEST INC PURPOSE: SEE PART IV | $27,246 |
BISHOP MUSEUM PURPOSE: SEE PART IV | $50,000 |
CHAMBER MUSIC HAWAII PURPOSE: SEE PART IV | $9,938 |
CHILDREN'S DISCOVERY CENTER PURPOSE: SEE PART IV | $50,000 |