Honolulu Festival Foundation
- Assets
- $688.1k
- Revenue
- $157.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Honolulu, HI
- Founding
- 09/2001
- Data as of
- 05/2022
- EIN
- 99-0352143
Organization Overview
Honolulu Festival Foundation is located in Honolulu, HI. The organization was established in 2001. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Honolulu Festival Foundation 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 05/2022, Honolulu Festival Foundation generated $157.5k 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 (29.1%) each year. All expenses for the organization totaled $120.3k during the year ending 05/2022. As we would expect to see with falling revenues, expenses have declined by (31.5%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE CULTURAL UNDERSTANDING, ECONOMIC COOPERATION AND ETHNIC HARMONY BETWEEN THE PEOPLE OF THE ASIA-PACIFIC REGION, ESPECIALLY THOSE OF HAWAII AND JAPAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL FESTIVAL - FREE 3-DAY EVENT WERE PLANNED AND PREPARED TO BE HELD AT VARIOUS VENUES ON OAHU FEATURING CULTURAL ENTERTAINMENT, EXHIBITS, DISPLAYS, DEMONSTRATIONS AND ETHNIC FOOD, CULMINATING IN A GRAND PARADE. THE FESTIVAL SERVES TO FOSTER UNDERSTANDING AND APPRECIATION OF THE CULTURES OF JAPAN AND HAWAII.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Duke Ahmoo Board Member | Trustee | 0.5 | $0 |
Ann H Chung Board Member | Trustee | 0.5 | $0 |
Jeff Chung Board Member | Trustee | 0.5 | $0 |
Robert Fortuna Board Member | Trustee | 0.5 | $0 |
Alan Fujimoto Board Member | Trustee | 0.5 | $0 |
Robert Harrison Board Member | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Akadama Incorporated Dba Hm International Event Management At Convention Center | 5/30/20 | $204,323 |
Fireworks By Grucci Fireworks Performance | 5/30/20 | $182,461 |
Hawaii Convention Center Facility Rent And Event Charges | 5/30/20 | $169,321 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $20,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $133,796 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $153,796 |
| Total Program Service Revenue | $0 |
| Investment income | $79 |
| 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 | $157,475 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $0 |
| Advertising and promotion | $53,844 |
| Office expenses | $2,723 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $41,487 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $322 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,128 |
| Insurance | $1,596 |
| All other expenses | $4,434 |
| Total functional expenses | $120,305 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $320,929 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $15,300 |
| 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 | $15,603 |
| Prepaid expenses and deferred charges | $304,671 |
| Net Land, buildings, and equipment | $25,814 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,748 |
| Total assets | $688,065 |
| Accounts payable and accrued expenses | $630 |
| Grants payable | $0 |
| Deferred revenue | $30,000 |
| 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 | $380 |
| Total liabilities | $31,010 |
| Net assets without donor restrictions | $657,055 |
| 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 | $688,065 |