HISTORIC HAWAI'I FOUNDATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1974

Legal Domicile

Principal Officer

KIERSTEN FAULKNER

Phone

8085232900

Tax Period

2024-01-01 to 2024-12-31

HISTORIC HAWAI'I FOUNDATION, founded in 1974, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.3M in total revenue in fiscal year 2024. Net assets of $2.7M represent 25 months of operating reserves.

Mission

TO PRESERVE AND ENCOURAGE THE PRESERVATION OF HISTORIC BUILDINGS, OBJECTS, AND SITES RELATING TO THE HISTORY OF HAWAII; TO PROMOTE AN AWARENESS OF AND RESPECT FOR ALL THAT IS HISTORICALLY SIGNIFICANT AND ARCHITECTURALLY DISTINCTIVE IN OUR STATE; AND THROUGH THESE EFFORTS, TO KEEP ALIVE AND INTACT FOR THE ENRICHMENT OF PRESENT AND FUTURE GENERATIONS THE INHERENT BEAUTY OF THE HAWAIIAN ISLANDS AND THE UNIQUE HISTORIC ROLE OF THE ISLANDS IN THE DEVELOPMENT OF THE PACIFIC BASIN.

Program Service Accomplishments

Program 1

Expenses: $846,664 Revenue: $69,226

PRESERVATION PROJECTS AND TECHNICAL ASSISTANCE: FIELD SERVICES FOR ON-SITE PRESERVATION ASSISTANCE, INCLUDING INFORMATION ABOUT STANDARDS AND GUIDELINES, BEST PRACTICES, AND PROFESSIONAL AND FUNDING RESOURCES; REVIEW OF DEVELOPMENT PROPOSALS TO RECOMMEND MEASURES TO AVOID, MINIMIZE AND MITIGATE ADVERSE EFFECTS TO HISTORIC PROPERTIES; INTEGRATING PRESERVATION INTO SIGNIFICANT URBAN PLANNING AND RURAL DEVELOPMENT LONG-RANGE PLANS. PROGRAM SERVICES INCLUDED GRANT ADMINISTRATION FOR 16 PRESERVATION GRANTS TO OTHERS, RESPONDING TO 793 INQUIRIES AT 250 HISTORIC SITES STATEWIDE, ANNUAL MONITORING OF THREE PRESERVATION EASEMENTS, AND SERVING ON ADVISORY GROUPS.

Program 2

Expenses: $208,334 Revenue: $1,427

PUBLIC EDUCATION: DEVELOP A COMMUNITY ETHIC OF PRESERVATION THROUGH TOURS, LECTURES, SEMINARS AND WORKSHOPS, PUBLICATIONS, AND HISTORIC SITE RESEARCH. PROGRAM SERVICES INCLUDED 9 PUBLIC PRESENTATIONS AND WALKING TOURS; 4 VIRTUAL WEBINARS AND IN-PERSON TRAININGS ON PRESERVATION PROCESSES AND BEST PRACTICES; 1 FIELD SCHOOL FOR TRADITIONAL TRADES TRAINING FOR PRESERVING HISTORIC BUILDINGS; FILMS AND PUBLICATIONS ON HISTORIC SITES, ARCHITECTURE AND DESIGN.

Program 3

Expenses: $109,650

PUBLIC OUTREACH AND ADVOCACY: PROMOTE PRESERVATION OF HAWAII'S HERITAGE THROUGH POLICY DEVELOPMENT AND ADVOCACY FOR FEDERAL, STATE AND LOCAL LAWS AND REGULATIONS, ECONOMIC INCENTIVE PROGRAMS, PUBLIC PLANS, COMMISSIONS AND ADVISORY GROUPS; LEADING AND FACILITATING PUBLIC AWARENESS EFFORTS; AND BUILDING COALITIONS OF HISTORIC PRESERVATION ALLIANCES. PROGRAM SERVICES INCLUDE MONITORING AND RESPONDING TO PROPOSED LEGISLATION RELATED TO PRESERVATION, PLANNING, ENVIRONMENT AND RELATED TOPICS, SUBMITTING TESTIMONY OR COMMENTS ON EFFECTS TO HISTORIC PROPERTIES FROM PROPOSED ACTIONS AND SIGNING AS A CONCURRING PARTY TO EIGHT (8) NATIONAL HISTORIC PRESERVATION ACT SECTION 106 AGREEMENTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,018,905

Program Service Revenue $70,496

Investment Income $80,052

Other Revenue $122,636

TOTAL REVENUE $1,292,089

Expense Breakdown

Grants Paid $616,400

Salaries & Benefits $381,445

Fundraising Expenses $30,898

Program Expenses $1,164,648

Other Expenses $281,891

TOTAL EXPENSES $1,279,736

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,292,089	$1,196,864	+0.1%
Expenses	$1,279,736	$1,305,491	0.0%
Net Income	$12,353	$-108,627	-1.1%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

131

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$137,863

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICK KIEFER	PRESIDENT	1.00	Officer Director	$0	$0	$0
JIM KELLY	FIRST VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JOANNA OSHIRO	TREASURER	1.00	Officer Director	$0	$0	$0
TRINETTE KAUI	SECRETARY	1.00	Officer Director	$0	$0	$0
LEN ISOTOFF	AT LARGE OFFICER	1.00	Officer Director	$0	$0	$0
KAWIKA MCKEAGUE	AT LARGE OFFICER	1.00	Officer Director	$0	$0	$0
VINCENT SHIGEKUNI	AT LARGE OFFICER	1.00	Officer Director	$0	$0	$0
KATIE STEPHENS	AT LARGE OFFICER	1.00	Officer Director	$0	$0	$0
CORD ANDERSON	TRUSTEE	1.00	Director	$0	$0	$0
RICKY CHING	TRUSTEE	1.00	Director	$0	$0	$0
LINDA CHIU	TRUSTEE	1.00	Director	$0	$0	$0
DONNE DAWSON	TRUSTEE	1.00	Director	$0	$0	$0
BLAINE GEMENO	TRUSTEE	1.00	Director	$0	$0	$0
GREG HACKLER	TRUSTEE	1.00	Director	$0	$0	$0
HALLETT HAMMATT	TRUSTEE	1.00	Director	$0	$0	$0
ALLEN HOE	TRUSTEE	1.00	Director	$0	$0	$0
CHRIS HONG	TRUSTEE	1.00	Director	$0	$0	$0
IINIMAIKALANI KAHAKALAU	TRUSTEE	1.00	Director	$0	$0	$0
MIKE KRAFT	TRUSTEE	1.00	Director	$0	$0	$0
TOM LAMBERT	TRUSTEE	1.00	Director	$0	$0	$0
JONATHAN MITCHELL	TRUSTEE	1.00	Director	$0	$0	$0
NICOLE OKUNA	TRUSTEE	1.00	Director	$0	$0	$0
MIKE ROBINSON	TRUSTEE	1.00	Director	$0	$0	$0
BARBARA SHIDELER	TRUSTEE	1.00	Director	$0	$0	$0
KENNY STANLEY	TRUSTEE	1.00	Director	$0	$0	$0
JAN TENBRUGGENCATE	TRUSTEE	1.00	Director	$0	$0	$0
ADRIANE TRULUCK	TRUSTEE	1.00	Director	$0	$0	$0
STEPHEN UEDA	TRUSTEE	1.00	Director	$0	$0	$0
JEREMY BALDWIN	FORMER TRUSTEE	1.00	Director	$0	$0	$0
KEKOA KALUHIWA	FORMER TRUSTEE	1.00	Director	$0	$0	$0
WENDIE MCALLASTER	FORMER TRUSTEE	1.00	Director	$0	$0	$0
WENDY RICE PETERSON	FORMER TRUSTEE	1.00	Director	$0	$0	$0
GREGORY PIETSCH	FORMER TRUSTEE	1.00	Director	$0	$0	$0
VERNON WONG	FORMER TRUSTEE	1.00	Director	$0	$0	$0
KIERSTEN FAULKNER	EXECUTIVE DIRECTOR	40.00	Officer	$123,425	$14,438	$137,863

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$1,292,089	$1,279,736	$2,712,577	$12,353
2023	$1,196,864	$1,305,491	$2,643,145	$-108,627
2022	$1,345,719	$1,174,666	$2,646,286	$171,053
2021	$1,262,395	$990,202	$2,591,431	$272,193
2020	$1,677,302	$1,060,501	$2,292,676	$616,801
2019	$1,128,758	$837,353	$1,701,018	$291,405
2018	$954,338	$740,430	$1,325,774	$213,908