Phac No 1 Inc
- Assets
- $3.1m
- Revenue
- $406.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Honolulu, HI
- Founding
- 08/1992
- Data as of
- 06/2023
- EIN
- 99-0297069
Organization Overview
Phac No 1 Inc is located in Honolulu, HI. The organization was established in 1992. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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. Phac No 1 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 06/2023, Phac No 1 Inc generated $406.7k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $529.4k during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF RENTAL HOUSING AND FACILITIES TO BENEFIT ELDERLY PERSONS AS DEFINED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFFORDABLE HOUSING - OWN AND OPERATE "HARRY & JEANETTE WEINBERG SENIORRESIDENCE AT MALUHIA," A 40 RENTAL UNIT COMPLEX THAT OPERATES UNDERSECTION 202 OF THE NATIONAL HOUSING ACT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nadine Nakamura President | OfficerTrustee | 0.4 | $0 |
Carl Takamura Vice President | OfficerTrustee | 0.4 | $0 |
Sandra Oshiro Secretary | OfficerTrustee | 0.4 | $0 |
Collin Hoo Treasurer | OfficerTrustee | 0.4 | $0 |
Sara Horiuchi Director | Trustee | 0.4 | $0 |
Donalyn Dela Cruz Director | Trustee | 0.4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $283,884 |
| 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 | $283,884 |
| Total Program Service Revenue | $120,644 |
| Investment income | $296 |
| 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 | $406,699 |
| 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 | $31,545 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $229 |
| Payroll taxes | $3,129 |
| Fees for services: Management | $27,562 |
| Fees for services: Legal | $1,931 |
| Fees for services: Accounting | $5,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $27,694 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $197,740 |
| Travel | $0 |
| 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 | $187,375 |
| Insurance | $46,401 |
| All other expenses | $0 |
| Total functional expenses | $529,406 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,687 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,465 |
| 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 | $14,178 |
| Net Land, buildings, and equipment | $2,461,617 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $607,319 |
| Total assets | $3,117,266 |
| Accounts payable and accrued expenses | $42,794 |
| Grants payable | $0 |
| Deferred revenue | $620 |
| 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 | $2,585,902 |
| Other liabilities | $34,599 |
| Total liabilities | $2,663,915 |
| Net assets without donor restrictions | $427,353 |
| Net assets with donor restrictions | $25,998 |
| 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 | $3,117,266 |