MAUI ECONOMIC DEVELOPMENT BOARD 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

LESLIE WILKINS

Phone

8088752300

Tax Period

2024-07-01 to 2025-06-30

MAUI ECONOMIC DEVELOPMENT BOARD INC, founded in 1982, is a community nonprofit that reported $9.1M in total revenue in fiscal year 2024. Revenue fell 32% from the prior year — a significant decline worth monitoring. Expenses of $8.0M left a modest 12% surplus.

Mission

MEDB LEADS AND INSPIRES INNOVATION IN BUSINESS, EDUCATION, AND OUR COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $4,133,800 Revenue: $1,539,532

BUSINESS DEVELOPMENT/OUTREACH/TECHNICAL ASSISTANCE:THE ORGANIZATION TARGETS AND ASSISTS EXISTING AND EMERGING BUSINESSES IN INFORMATION TECHNOLOGY, ENGINEERING, AEROSPACE, ASTRONOMY/OPTICS, RENEWABLE ENERGY, HEALTHCARE, AGRI-TECHNOLOGY AND SMALL BUSINESSES. THESE SECTORS PROVIDE OPPORTUNITIES TO STRENGTHEN AND BROADEN THE ECONOMY AND GENERATE ACTIVITIES THAT OFFER NEW CAREER OPTIONS FOR RESIDENTS. BUSINESS DEVELOPMENT STRATEGIES INCLUDE ONE-ON-ONE CONSULTATIONS, TECHNICAL CONFERENCES, PUBLIC AWARENESS TOOLS, AND EXHIBITIONS.

Program 2

Expenses: $3,079,747

EDUCATION AND WORKFORCE DEVELOPMENT: MEDB'S EDUCATION TO WORKFORCE PIPELINE PROGRAMS SPAN KINDERGARTEN TO CAREERS. OUR ORIGINAL AND SIGNATURE PROGRAMS UNDER STEMWORKS(TM) SEEK TO STRENGTHEN THE...

EDUCATION AND WORKFORCE DEVELOPMENT: MEDB'S EDUCATION TO WORKFORCE PIPELINE PROGRAMS SPAN KINDERGARTEN TO CAREERS. OUR ORIGINAL AND SIGNATURE PROGRAMS UNDER STEMWORKS(TM) SEEK TO STRENGTHEN THE PIPELINE BY ENGAGING STUDENTS INTO SCIENCE, TECHNOLOGY, ENGINEERING AND MATH (STEM) CAREER PATHWAYS. STEMWORKS INNOVATIVE METHODOLOGY IS GROUNDED IN PLACE-BASED, SERVICE AND APPLIED LEARNING. THE PROGRAM INCLUDES TECHNICAL TRAINING, ENGINEERING-DESIGN PROCESS, REAL-WORLD CHALLENGES, MENTORING, CAREER-AWARENESS ACTIVITIES, AND INTERNSHIPS FOR STUDENTS. EDUCATORS HAVE ACCESS TO STATE OF THE ART TECHNOLOGY TOOLS AND PROFESSIONAL DEVELOPMENT. MEDB PROGRAMS SERVE OVER 35,000 STUDENTS, EDUCATORS, AND BUSINESSES STATEWIDE.

Program 3

Expenses: $167,300

CIVIC ENGAGEMENT AND EDUCATION: THE ORGANIZATION WORKS TO ENGAGE MEMBERS OF THE COMMUNITY TO HAVE A VOICE IN DECISION-MAKING ABOUT MAUI COUNTY AND THE STATE'S ECONOMIC FUTURE. BY PROVIDING AND...

CIVIC ENGAGEMENT AND EDUCATION: THE ORGANIZATION WORKS TO ENGAGE MEMBERS OF THE COMMUNITY TO HAVE A VOICE IN DECISION-MAKING ABOUT MAUI COUNTY AND THE STATE'S ECONOMIC FUTURE. BY PROVIDING AND FACILITATING EDUCATION AND COMMUNITY-BASED PLATFORMS SUCH AS THE FOCUS GROUPS WHICH INFORMED THE COUNTY AND STATE'S COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY (CEDS), MEDB SEEKS TO PROVIDE TOOLS FOR RESIDENTS TO TAKE ACTION TO MAKE INFORMED DECISIONS ABOUT THEIR LIVES, COMMUNITY, AND THE ECONOMY.

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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 $7,444,201

Program Service Revenue $1,533,146

Investment Income $-6,425

Other Revenue $136,587

TOTAL REVENUE $9,107,509

Expense Breakdown

Grants Paid $662,279

Salaries & Benefits $2,321,816

Fundraising Expenses $127,050

Program Expenses $7,380,847

Other Expenses $5,041,714

TOTAL EXPENSES $8,025,809

Year-over-Year Comparison

	2024	2023	Change
Revenue	$9,107,509	$13,315,928	-0.3%
Expenses	$8,025,809	$12,964,989	-0.4%
Net Income	$1,081,700	$350,939	+2.1%

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

457

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

$314,412

Total Directors

$183,665

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LESLIE WILKINS	PRESIDENT AND CEO	40.00	Officer Director	$147,572	$36,093	$183,665
TIARE MARTIN	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
CURTIS TOM	VICE CHAIR	0.50	Officer Director	$0	$0	$0
DEANNA GARCIA	SECRETARY	0.50	Officer Director	$0	$0	$0
ROBERT KAWAHARA	TREASURER	1.00	Officer Director	$0	$0	$0
DWAYNE BETSILL	DIRECTOR	0.25	Director	$0	$0	$0
RYAN CHURCHILL	DIRECTOR	0.25	Director	$0	$0	$0
JERRY CORNELL	DIRECTOR	0.25	Director	$0	$0	$0
NED DAVIS	DIRECTOR	0.25	Director	$0	$0	$0
ROSIE DAVIS	DIRECTOR	0.25	Director	$0	$0	$0
LISA FRANKFORD FORMERLY THOMPSON	DIRECTOR	0.25	Director	$0	$0	$0
RYAN FUKUSHIMA	DIRECTOR	0.25	Director	$0	$0	$0
DAVID LASSNER	DIRECTOR	0.25	Director	$0	$0	$0
MIKE MABERRY	DIRECTOR	0.25	Director	$0	$0	$0
DR RONALD CHRIS MARTIN	DIRECTOR	0.25	Director	$0	$0	$0
ERIC MATSUDA	DIRECTOR	0.25	Director	$0	$0	$0
J SCOTT MEIDELL	DIRECTOR	0.25	Director	$0	$0	$0
SAEDENE OTA	DIRECTOR	0.25	Director	$0	$0	$0
ELLI PASCUA	DIRECTOR	0.25	Director	$0	$0	$0
LISA PAULSON	DIRECTOR	0.25	Director	$0	$0	$0
CAROL REIMANN	DIRECTOR	0.25	Director	$0	$0	$0
RICK VOLNER JR	DIRECTOR	0.25	Director	$0	$0	$0
MAILE WONG	DIRECTOR	0.25	Director	$0	$0	$0
GRANT CHUN	FORMER DIRECTOR	0.25	Director	$0	$0	$0
LISA TOMIHAMA	FORMER DIRECTOR	0.25	Director	$0	$0	$0
PAMELA TUMPAP	FORMER DIRECTOR	0.25	Director	$0	$0	$0
MICHELLE COCCA	CHIEF FINANCIAL OFFICER	40.00	Officer	$120,299	$10,448	$130,747

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	$9,107,509	$8,025,809	$15,326,384	$1,081,700
2024	No data	No data	No data	No data
2023	$6,751,092	$5,668,592	$12,120,139	$1,082,500
2022	$4,443,692	$4,454,057	$11,013,718	$-10,365
2021	$7,742,311	$7,749,603	$10,649,362	$-7,292
2020	$4,021,695	$3,906,848	$10,381,731	$114,847
2019	$4,285,831	$4,218,793	$10,789,062	$67,038
2018	$4,068,387	$3,913,704	$10,949,010	$154,683