WAIKIKI BEACH SPECIAL IMPROVEMENT … - Form 990 Financial Data

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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

2015

Legal Domicile

Principal Officer

RICK EGGED

Phone

8089231094

Tax Period

2023-07-01 to 2024-06-30

WAIKIKI BEACH SPECIAL IMPROVEMENT DISTRICT ASSOCIATION, founded in 2015, is a community nonprofit in the Environment sector that reported $1.4M in total revenue in fiscal year 2023. Revenue surged 31% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.1M, a strong 76% operating margin.

Mission

THE WAIKIKI BEACH SPECIAL IMPROVEMENT DISTRICT IS DEDICATED TO CARRYING OUT AND EXECUTING THE RESPONSIBILITIES AND ACTIVITIES PRESCRIBED IN THE WAIKIKI BEACH SPECIAL IMPROVEMENT DISTRICT PLAN FOR THE CITY AND COUNTY OF HONOLULU SPECIAL IMPROVEMENT DISTRICT NO. 3, ESTABLISHED BY ORDINANCE OF THE CITY COUNCIL, CITY AND COUNTY OF HONOLULU, AND PREPARED AND SPONSORED BY THE WAIKIKI IMPROVEMENT ASSOCIATION PURSUANT TO HAWAII REVISED STATUTE 46-80.5 AND REVISED ORDINANCES OF HONOLULU 1990, CHAPTER 36; TO RELIEVE THE BURDENS OF GOVERNMENT AND ENHANCE THE QUALITY OF LIFE IN WAIKIKI; TO WORK IN PARTNERSHIP WITH GOVERNMENT AND THE PRIVATE SECTOR TO DEVELOP AND IMPLEMENT PROGRAMS THAT PROMOTE THE OVERALL VITALITY OF WAIKIKI BEACH AND THE STATE OF HAWAII BY STRENGTHENING THEIR ROLES ON BEHALF OF ALL RESIDENTS OF HAWAII AS A WORLD-CLASS RESORT DESTINATION FOR VISITORS; TO OPERATE EXCLUSIVELY FOR CHARITABLE, RELIGIOUS, LITERARY, EDUCATIONAL, AND SCIENTIFIC PURPOSES, WITHIN THE MEANING OF SECTION 501

Program Service Accomplishments

Program 1

Expenses: $149,951

PLANNING FOR THE IMPLEMENTATION OF WAIKIKI BEACH IMPROVEMENTS

Program 2

Expenses: $33,131

IMPROVEMENT PROJECTS TO PRESERVE AND RESTORE WAIKIKI BEACH AND SURROUNDING AREAS.

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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 $1,139,359

Program Service Revenue $0

Investment Income $11,237

Other Revenue $227,749

TOTAL REVENUE $1,378,345

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $183,082

Other Expenses $324,828

TOTAL EXPENSES $324,828

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,378,345	$1,053,806	+0.3%
Expenses	$324,828	$792,488	-0.6%
Net Income	$1,053,517	$261,318	+3.0%

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

N/A

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DEBI BISHOP	DIRECTOR	1.00	Director	$0	$0	$0
TRACI BUSH	VICE CHAIR	1.00	Officer Director	$0	$0	$0
DYLAN CHING	DIRECTOR	1.00	Director	$0	$0	$0
MARK DEMELLO	DIRECTOR	1.00	Director	$0	$0	$0
RANDY DIAMOND	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS FOTI	DIRECTOR	1.00	Director	$0	$0	$0
ERON HODGES	DIRECTOR	1.00	Director	$0	$0	$0
DAVE KAJIHIRO	DIRECTOR	1.00	Director	$0	$0	$0
AARON KANEMARU	TREASURER	1.00	Officer Director	$0	$0	$0
ALIKA MAU	DIRECTOR	1.00	Director	$0	$0	$0
MIKE MURRAY	DIRECTOR	1.00	Director	$0	$0	$0
BRUCE NAKAOKA	DIRECTOR	1.00	Director	$0	$0	$0
ROB ROBINSON	CHAIR	1.00	Officer Director	$0	$0	$0
MIKE SHAFF	DIRECTOR	1.00	Director	$0	$0	$0
HELENE SAM SHENKUS	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL TAKAYAMA	VICE CHAIR	1.00	Officer Director	$0	$0	$0
CHRIS THIBAUT	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN WU	DIRECTOR	1.00	Director	$0	$0	$0
PAMELA YAGI	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL CAIN	GOVERNOR'S R	1.00	Officer	$0	$0	$0
RICK EGGED	PRESIDENT	5.00	Officer	$0	$0	$0
DOLAN EVERSOLE	SECRETARY	1.00	Officer	$0	$0	$0
TOMMY WATERS	CITY COUNCIL	1.00	Officer	$0	$0	$0
ALEXANDER YEE	MAYOR'S REP	1.00	Officer	$0	$0	$0

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
2025	No data	No data	No data	No data
2024	$1,378,345	$324,828	$3,547,926	$1,053,517
2023	$1,053,806	$792,488	$2,748,700	$261,318
2022	$1,003,176	$519,829	$2,233,835	$483,347
2021	$1,404,278	$1,366,774	$1,746,682	$37,504
2020	$1,065,298	$1,623,221	$1,708,240	$-557,923
2019	$934,757	$335,136	$2,275,707	$599,621
2018	$877,304	$369,530	$1,660,218	$507,774

WAIKIKI BEACH SPECIAL IMPROVEMENT DISTRICT ASSOCIATION