CRAIGSIDE RETIREMENT RESIDENCE

EIN: 352272376 501(c)(3) Human Services

HONOLULU, HI

Total Revenue
$27,527,388
Total Expenses
$28,466,025
Total Assets
$64,211,951
Net Assets
$-50,885,360
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Financial Trends

Organization Details

Formation Year
2006
Legal Domicile
HI
Principal Officer
VIVIAN LAI
Phone
8089410941
Tax Period
2024-01-01 to 2024-12-31

CRAIGSIDE RETIREMENT RESIDENCE, founded in 2006, is a mid-sized nonprofit in the Human Services sector that reported $27.5M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion.

Mission

15 CRAIGSIDE'S MISSION IS TO ENRICH THE LIVES OF HAWAII'S KUPUNA BY PROVIDING HOUSING, HEALTHCARE, AND FINANCIAL SECURITY. AS A LIFE PLAN COMMUNITY, 15 CRAIGSIDE OFFERS A SUPERIOR CONTINUUM OF LIFETIME CARE DESIGNED TO SUPPORT THE SPIRITUAL, PHYSICAL, AND SOCIAL WELL-BEING OF EVERY RESIDENT.

Program Service Accomplishments

Program 1
Expenses: $12,268,267 Revenue: $17,225,756

MONTHLY SERVICE CHARGE - CRAIGSIDE PROVIDES ROOM, BOARD AND OTHER SERVICES FOR 180 RESIDENTS. THE AVERAGE MONTHLY FEE CHARGED TO EACH RESIDENT IS $6,000 IN 2024. CRAIGSIDE PAYS FOR ALL...

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MONTHLY SERVICE CHARGE - CRAIGSIDE PROVIDES ROOM, BOARD AND OTHER SERVICES FOR 180 RESIDENTS. THE AVERAGE MONTHLY FEE CHARGED TO EACH RESIDENT IS $6,000 IN 2024. CRAIGSIDE PAYS FOR ALL EXPENSES.ENTRANCE FEE AMORTIZATION - NEW RESIDENTS PAY FOR A LIFETIME INTEREST IN THEIR APARTMENT. REVENUE FOR AMORTIZATION OF ENTRANCE FEE IS RECOGNIZED OVER THE EXPECTED LIFE OF THE RESIDENT.

Program 2
Expenses: $8,570,399 Revenue: $8,054,326

HEALTH CARE CENTER - CRAIGSIDE HAS A LICENSED SKILLED NURSING, INTERMEDIATE CARE AND SPECIAL CARE FACILITY WITH 45 NURSING FACILITY BEDS AVAILABLE FOR USE BY RESIDENTS. ALL 45 BEDS ARE MEDICARE...

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HEALTH CARE CENTER - CRAIGSIDE HAS A LICENSED SKILLED NURSING, INTERMEDIATE CARE AND SPECIAL CARE FACILITY WITH 45 NURSING FACILITY BEDS AVAILABLE FOR USE BY RESIDENTS. ALL 45 BEDS ARE MEDICARE CERTIFIED. THE AVERAGE CENSUS WAS 43 IN 2024 WITH A PER DIEM RATE OF $472 FOR SEMI-PRIVATE ROOMS FOR LONG-TERM RESIDENTS IN 2024.

Program 3
Expenses: $3,157,001 Revenue: $1,430,408

ASSISTED LIVING SERVICES - PROGRAM TO PROVIDE HELP TO RESIDENTS WHO ARE NOT CLINICALLY RESTRICTED TO BEDS AND ARE NOT PHYSICALLY OR MENTALLY ABLE TO LIVE INDEPENDENTLY. RESIDENTS ENROLLED CAN HAVE AN...

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ASSISTED LIVING SERVICES - PROGRAM TO PROVIDE HELP TO RESIDENTS WHO ARE NOT CLINICALLY RESTRICTED TO BEDS AND ARE NOT PHYSICALLY OR MENTALLY ABLE TO LIVE INDEPENDENTLY. RESIDENTS ENROLLED CAN HAVE AN INDEPENDENT LIFESTYLE WITH HELP PROVIDED BY CRAIGSIDE. THIS CAN INCLUDE SERVICES FROM MEDICATION MANAGEMENT TO ASSISTANCE WITH MANY OF THE ACTIVITIES OF DAILY LIVING. 68 RESIDENTS WERE ENROLLED IN THE PROGRAM AS OF DECEMBER 31, 2024.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $590,778
Program Service Revenue $26,709,615
Investment Income $226,120
Other Revenue $875
TOTAL REVENUE $27,527,388

Expense Breakdown

Grants Paid $0
Salaries & Benefits $14,161,784
Fundraising Expenses $0
Program Expenses $23,995,667
Other Expenses $14,304,241
TOTAL EXPENSES $28,466,025

Year-over-Year Comparison

2024 2023 Change
Revenue $27,527,388 $23,996,792 +0.1%
Expenses $28,466,025 $26,309,126 +0.1%
Net Income $-938,637 $-2,312,334 -0.6%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
12
Independent Members
10
Employees
N/A
Volunteers
10

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
6
$740,784
Total Directors
12
$740,784
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARTIN ZORN CHAIR 2.00
Officer Director
$0 $0 $0
LUCAS SAYIN VICE CHAIR 0.50
Officer Director
$0 $0 $0
KOREN DREHER TREASURER 0.50
Officer Director
$0 $0 $0
CORLIS CHANG SECRETARY 0.50
Officer Director
$0 $0 $0
ANDREW BUNN BOARD MEMBER 0.50
Director
$0 $0 $0
REV DR DAVID POPHAM BOARD MEMBER 0.50
Director
$0 $0 $0
LAURA REICHARDT BOARD MEMBER 0.50
Director
$0 $0 $0
KENT REINKER BOARD MEMBER 0.50
Director
$0 $0 $0
REV RUSHAN SINNADURAY BOARD MEMBER 0.50
Director
$0 $0 $0
ARKIE KOEHL BOARD MEMBER 0.50
Director
$0 $0 $0
SUZIE SCHULBERG PRESIDENT & CEO 10.00
Officer Director
$0 $35,893 $451,170
VIVIAN LAI CFO 10.00
Officer Director
$0 $19,317 $289,614
MAY RIETA REGISTERED NURSE 64.00
Highest
$180,109 $26,662 $206,771
JO ANN ERICE REGISTERED NURSE 50.00
Highest
$131,599 $33,789 $165,388
ROSALIE D'SANSON DIRECTOR OF NURSING 50.00
Highest
$132,841 $33,101 $165,942
ZANDRA PADAYAO REGISTERED NURSE 50.00
Highest
$137,054 $28,099 $165,153
ANGELICA RANCES REGISTERED NURSE 50.00
Highest
$141,080 $19,179 $160,259
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 $27,527,388 $28,466,025 $64,211,951 $-938,637
2023 $23,996,792 $26,309,126 $60,945,280 $-2,312,334
2022 $23,543,885 $25,121,344 $59,015,536 $-1,577,459
2021 $21,950,444 $24,458,922 $60,556,862 $-2,508,478
2020 $23,066,258 $23,877,909 $62,090,714 $-811,651
2019 $21,606,688 $23,728,011 $63,889,505 $-2,121,323
2018 $21,563,928 $23,077,296 $71,097,564 $-1,513,368
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