HAWAII RESIDENCY PROGRAMS INC

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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

1982

Legal Domicile

Principal Officer

NATALIE TALAMOA

Phone

8085862890

Tax Period

2022-07-01 to 2023-06-30

HAWAII RESIDENCY PROGRAMS INC, founded in 1982, is a mid-sized nonprofit in the Diseases & Disorders sector that reported $23.4M in total revenue in fiscal year 2022.

Mission

TO PROVIDE BETTER MEDICAL CARE FOR THE PEOPLE OF HAWAII BY THE ADVANCEMENT OF MEDICAL EDUCATION AND TRAINING FOR MEDICAL RESIDENTS IN THE STATE OF HAWAII.

Program Service Accomplishments

Program 1

Expenses: $21,428,952 Revenue: $23,147,234

PROVIDED POST GRADUATE MEDICAL TRAINING AND EDUCATION FOR 225 FULL-TIME EQUIVALENT RESIDENTS AND FELLOWS IN EIGHT (8) SPECIALTIES & NINE (9) SUB-SPECIALTIES INCLUDING INTERNAL MEDICINE, SURGERY...

PROVIDED POST GRADUATE MEDICAL TRAINING AND EDUCATION FOR 225 FULL-TIME EQUIVALENT RESIDENTS AND FELLOWS IN EIGHT (8) SPECIALTIES & NINE (9) SUB-SPECIALTIES INCLUDING INTERNAL MEDICINE, SURGERY, PSYCHIATRY, CHILD AND ADOLESCENT PSYCHIATRY, PATHOLOGY, OBSTETRICS/GYNECOLOGY, PEDIATRICS, ORTHOPAEDIC SURGERY, GERIATRICS, CARDIO-VASCULAR DISEASE, FAMILY MEDICINE, SURGICAL CRITICAL CARE, SPORTS MEDICINE, NEONATAL-PERINATAL MEDICINE, GERIATRIC PSYCHIATRY, ADDICTION PSYCHIATRY, AND ADDICTION MEDICINE.

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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 (2022)

Revenue Breakdown

Contributions & Grants $76,450

Program Service Revenue $23,145,326

Investment Income $194,296

Other Revenue $1,908

TOTAL REVENUE $23,417,980

Expense Breakdown

Grants Paid $0

Salaries & Benefits $21,743,873

Fundraising Expenses $0

Program Expenses $21,428,952

Other Expenses $1,421,845

TOTAL EXPENSES $23,165,718

Year-over-Year Comparison

	2022	2021	Change
Revenue	$23,417,980	$21,707,888	+0.1%
Expenses	$23,165,718	$21,656,251	+0.1%
Net Income	$252,262	$51,637	+3.9%

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

363

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

$407,818

Total Directors

Key Employees

$172,428

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RAYMOND P VARA JR	DIRECTOR, PRESIDENT	1.00	Officer Director	$0	$0	$0
JILL HOGGARD GREEN	DIRECTOR, VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
GARY K KAJIWARA	DIRECTOR, SECRETARY/TREASU	1.00	Officer Director	$0	$0	$0
LEE BUENCONSEJO-LUM	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN STEINEMANN	DIRECTOR	1.00	Director	$0	$0	$0
JERRIS HEDGES	FORMER DIRECTOR	1.00	Director	$0	$0	$0
SEIKO WATANABE	FORMER FINANCE DIRECTOR	40.00	Officer	$179,921	$13,786	$193,707
NATALIE TALAMOA	EXECUTIVE DIRECTOR	40.00	Officer	$196,593	$17,518	$214,111
MARLENE KEAWE	GME OPERATIONS DIRECTOR	40.00	Key Emp	$160,327	$12,101	$172,428

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	No data	No data	No data	No data
2023	$23,417,980	$23,165,718	$9,918,286	$252,262
2022	$21,707,888	$21,656,251	$9,296,011	$51,637
2021	$21,904,446	$21,752,450	$9,051,917	$151,996
2020	$21,443,925	$21,264,707	$8,661,807	$179,218
2019	$20,627,331	$20,485,315	$7,787,627	$142,016
2018	$20,364,334	$20,307,557	$7,023,778	$56,777