HONOLULU BIENNIAL 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

2014

Legal Domicile

Principal Officer

ROSINA POTTER

Phone

8084982853

Tax Period

2023-07-01 to 2024-06-30

HONOLULU BIENNIAL FOUNDATION, founded in 2014, is a small nonprofit in the Arts, Culture & Humanities sector that reported $780K in total revenue in fiscal year 2023. Revenue surged 109% from the prior year, signaling strong growth momentum. The organization ran a surplus of $164K, a strong 21% operating margin.

Mission

HONOLULU BIENNIAL FOUNDATION DBA HAWAII CONTEMPORARY("HC") SUPPORTS THE LOCAL ARTS INFRASTRUCTURE WITH A GLOBAL OUTREACH BY PRESENTING AN ARTS FESTIVAL, HAWAII TRIENNIAL, EVERY THREE YEARS. THE MULTI-SITE PUBLIC EXHIBITION IS COMPLEMENTED BY YEAR-ROUND PUBLIC AND EDUCATION PROGRAMS, INCLUDING PROFESSIONAL DEVELOPMENT FOR ARTISTS, CONTRIBUTE TO THE LOCAL ARTS ECOSYSTEM, AND AFFIRM OUR COMMITMENT TO CREATING AN ACCESSIBLE GATEWAY FOR CONTEMPORARY ART IN HAWAI'I NEI.

Program Service Accomplishments

Program 1

Expenses: $308,848 Revenue: $286

FY24 IS YEAR TWO IN THE THREE YEAR TRIENNIAL CYCLE. FY24 IS FOCUSED ON RESEARCH AND DEVELOPMENT FOR THE TRIENNIAL AS WELL AS HOSTING ART SUMMIT, A THREE DAY SYMPOSIUM BASED ON THE TRIENNIAL THEME.

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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 (2023)

Revenue Breakdown

Contributions & Grants $815,927

Program Service Revenue $0

Investment Income $35

Other Revenue $-36,024

TOTAL REVENUE $779,938

Expense Breakdown

Grants Paid $0

Salaries & Benefits $375,716

Fundraising Expenses $202,756

Program Expenses $308,848

Other Expenses $239,809

TOTAL EXPENSES $615,525

Year-over-Year Comparison

	2023	2022	Change
Revenue	$779,938	$373,564	+1.1%
Expenses	$615,525	$634,307	0.0%
Net Income	$164,413	$-260,743	-1.6%

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

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

$106,819

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PIIA AARMA	PRESIDENT	2.00	Officer Director	$0	$0	$0
MAILE MEYER	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
TREVER ASAM	TREASURER	2.00	Officer Director	$0	$0	$0
MASAKO SHINN	SECRETARY	2.00	Officer Director	$0	$0	$0
KRISTEN CHAN	DIRECTOR	1.00	Director	$0	$0	$0
DIANE CHEN	DIRECTOR	1.00	Director	$0	$0	$0
CHLOE HARTWELL	DIRECTOR	1.00	Director	$0	$0	$0
JON KINDRED	DIRECTOR	1.00	Director	$0	$0	$0
GLORIA LAU	DIRECTOR	1.00	Director	$0	$0	$0
JASON LAZZERINI	DIRECTOR	1.00	Director	$0	$0	$0
PATRICIA MOAD	DIRECTOR	1.00	Director	$0	$0	$0
KA'IULANI SODARO	DIRECTOR	1.00	Director	$0	$0	$0
ANNE AWAYNE-KEIR	DIRECTOR	1.00	Director	$0	$0	$0
ROSINA POTTER	EXECUTIVE DIRECTOR	40.00	Officer	$101,538	$5,281	$106,819

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	$779,938	$615,525	$236,588	$164,413
2023	$373,564	$634,307	$176,781	$-260,743
2022	$2,015,197	$2,533,050	$380,696	$-517,853
2021	$1,626,673	$535,663	$1,379,044	$1,091,010
2019	$896,257	$1,278,846	$276,935	$-382,589
2018	$772,846	$364,515	$645,268	$408,331