OAHU ECONOMIC DEVELOPMENT BOARD

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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

1984

Legal Domicile

Principal Officer

CATHERINE AWAKUNI COLON

Phone

8085213611

Tax Period

2023-01-01 to 2023-12-31

OAHU ECONOMIC DEVELOPMENT BOARD, founded in 1984, is a community nonprofit in the Community Improvement sector that reported $1.0M in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year. The organization ran a surplus of $207K, a strong 20% operating margin.

Mission

OAHU ECONOMIC DEVELOPMENT BOARD (OEDB) IS A NON-PROFIT, FUNDED PRIMARILY BY THE PRIVATE SECTOR. THE ORGANIZATION'S EFFORTS SUPPORT A DIVERSIFIED ECONOMY ON O'AHU BY BEING A LEADING AGENT IN THE GROWTH, RETENTION AND RECRUITMENT OF BUSINESSES THAT OFFER QUALITY JOBS IN HAWAII. OEDB IS ALSO ACTIVELY INVOLVED IN INFRASTRUCTURE, PLANNING AND WORKFORCE DEVELOPMENT TO BUILD THE FOUNDATION FOR A GLOBALLY COMPETITIVE, PROSPEROUS ECONOMY.

Program Service Accomplishments

Program 1

Expenses: $55,460 Revenue: $0

HAWAI'I GREEN GROWTH IS COMMITTED TO BUILDING A MORE RESILIENT AND SUSTAINABLE FUTURE FOR HAWAI'I. HAWAI'I GREEN GROWTH SERVES AS THE BACKBONE ORGANIZATION FOR THE ALOHA+ CHALLENGE, AND COORDINATES A BROAD STAKEHOLDER BASE TO IDENTIFY AREAS FOR STATEWIDE ACTION ON HAWAI'I'S 2030 SUSTAINABILITY GOALS. THE PARTNERSHIP HONORS A COLLABORATIVE AND INTEGRATED APPROACH TO ACHIEVE ENVIRONMENTAL, SOCIAL, AND ECONOMIC PROSPERITY FOR FUTURE GENERATIONS. HAWAIIAN CULTURE AND VALUES ARE THE BEDROCK OF THE ALOHA+ CHALLENGE AND HAWAI'I GREEN GROWTH, PROVIDING A TRUST-BASED FRAMEWORK TO PROMOTE SYSTEM-LEVEL CHANGE ACROSS HAWAI'I.

Program 2

Expenses: $187,755 Revenue: $3,475

THE MISSION OF THE BUSINESS DEVELOPMENT PROGRAM IS TO ACHIEVE HEALTHY & PROSPEROUS ECONOMIC SECTORS FOCUSING ON HAWAII'S NEEDS AND BUILDING UPON OUR UNIQUE ASSETS. THIS INITIATIVE INCLUDED LEADERSHIP ENGAGEMENT AND DEVELOPMENT, TRUST BUILDING, COMMUNITY BUILDING AND DEVELOPMENT FOR CAPACITY BUILDING TO INCREASE JOBS AND WAGES INTO THE FUTURE. THE TARGETED SECTORS AND PROGRAMS INCLUDED, COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY - CONTRACTED ASSISTANCE WITH BUSINESSES, OFFICE OF PLANNING, STATE DEPARTMENT OF BUSINESS, FISCAL AGENT FOR HAWAII GREEN GROWTH AND HAWAII COMMUNITY BENEFITS CONSULTANTS.$10,000 OF REVENUE WAS RECEIVED FOR THE PROFESSIONAL MENTORING AND ADVISING FOR THE CENTER FOR DIVERSE LEADERSHIP IN SCIENCE. ALSO, COORDINATION AND ORGANIZING OF THE BOARD OF DIRECTORS FOR CDLS AS INTERIM BOARD CHAIR 2023. FOR OEDB, DEVELOPMENT OF EXAMPLES OF EXPORTING KNOWLEDGE AND INNOVATION EXPERTISE AND IMPORTING MONIES TO HAWAII.

Program 3

Expenses: $7,672 Revenue: $873,937

THE NEW MARKETS TAX CREDITS ("NMTC") PROGRAM PROVIDES A TAX INCENTIVE FOR PRIVATE SECTOR INVESTMENT INTO ECONOMIC DEVELOPMENT PROJECTS AND BUSINESSES LOCATED IN LOW-INCOME COMMUNITIES. THIS PROGRAM IS OVERSEEN BY U.S. DEPARTMENT OF THE TREASURY AND DIRECTLY ADMINISTERED BY THE COMMUNITY DEVELOPMENT FINANCIALS INSTITUTIONS ("CDFI") FUND. NMTCS ARE ALLOCATED BY THE CDFI FUND TO COMMUNITY DEVELOPMENT ENTITIES ("CDES"). CDES OFFER NMTCS TO INVESTORS IN EXCHANGE FOR QUALIFIED EQUITY INVESTMENTS FOR THE PURPOSE OF MAKING LOANS TO QUALIFIED ACTIVE LOW-INCOME BUSINESSES.

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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 $142,877

Program Service Revenue $906,467

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,049,344

Expense Breakdown

Grants Paid $5,520

Salaries & Benefits $577,146

Fundraising Expenses $0

Program Expenses $262,151

Other Expenses $259,552

TOTAL EXPENSES $842,218

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,049,344	$1,127,662	-0.1%
Expenses	$842,218	$1,218,551	-0.3%
Net Income	$207,126	$-90,889	-3.3%

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

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

$211,218

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALAN ARIZUMI	EX-OFFICIO DIRECTOR	2.00	Director	$0	$0	$0
CATHERINE NGO	EX-OFFICIO DIRECTOR	2.00	Director	$0	$0	$0
COLBERT MATSUMOTO	EX-OFFICIO DIRECTOR	2.00	Director	$0	$0	$0
DAVID TUMILOWICZ	SECRETARY & DIRECTOR	2.00	Officer Director	$0	$0	$0
JAN SULLIVAN	DIRECTOR	2.00	Director	$0	$0	$0
JEFFREY H OVERTON	CHAIRMAN & DIRECTOR	2.00	Officer Director	$0	$0	$0
JEFFREY KD AU	DIRECTOR	2.00	Director	$0	$0	$0
JOSEPH VIOLA	DIRECTOR	2.00	Director	$0	$0	$0
KEITH YOSHIDA	DIRECTOR	2.00	Director	$0	$0	$0
MURRAY CLAY	DIRECTOR	2.00	Director	$0	$0	$0
MYRON THOMPSON	DIRECTOR	2.00	Director	$0	$0	$0
NELSON KM LAU	TREASURER/DIRECTOR	2.00	Officer Director	$0	$0	$0
PATRICK SULLIVAN	DIRECTOR	2.00	Director	$0	$0	$0
ROBIN CAMPANIANO	DIRECTOR	2.00	Director	$0	$0	$0
TIMOTHY JOHNS	DIRECTOR	2.00	Director	$0	$0	$0
TYLER TOKIOKA	VICE CHAIR & DIRECTOR	2.00	Officer Director	$0	$0	$0
VASSILIS SYRMOS	DIRECTOR	2.00	Director	$0	$0	$0
MAHINA PAISHON-DUARTE	DIRECTOR	2.00	Director	$0	$0	$0
NEILL CHAR	DIRECTOR	2.00	Director	$0	$0	$0
ROB LEE	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL J O'MALLEY	DIRECTOR	2.00	Director	$0	$0	$0
SARAH GUAY	DIRECTOR	2.00	Director	$0	$0	$0
TAYLOR QUANAN	DIRECTOR	2.00	Director	$0	$0	$0
RYDEN IWAMOTO	DIRECTOR	2.00	Director	$0	$0	$0
VIRGIL PACKETT II	DIRECTOR	2.00	Director	$0	$0	$0
LISA MARUYAMA	DIRECTOR	2.00	Director	$0	$0	$0
SHERI-ANN LAU CLARK	DIRECTOR	2.00	Director	$0	$0	$0
PAUL ITO	DIRECTOR	2.00	Director	$0	$0	$0
CATHERINE COLON	PRESIDENT & CEO	60.00	Officer	$190,128	$21,090	$211,218

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	No data	No data	No data	No data
2023	$1,049,344	$842,218	$1,283,565	$207,126
2022	$1,127,662	$1,218,551	$1,091,719	$-90,889
2021	$2,710,108	$1,871,622	$1,230,872	$838,486
2020	$1,157,707	$1,551,308	$375,571	$-393,601
2019	$2,088,931	$1,593,562	$757,732	$495,369
2018	$1,318,670	$1,318,411	$268,874	$259