HAWAII ISLAND COMMUNITY DEVELOPMEN… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year

1986

Legal Domicile

Principal Officer

NANCY CRAWFORD

Phone

8089691158

Tax Period

2023-01-01 to 2023-12-31

HAWAII ISLAND COMMUNITY DEVELOPMENT CORPORATION, founded in 1986, is a community nonprofit in the Housing & Shelter sector that reported $2.2M in total revenue in fiscal year 2023. Revenue surged 90% from the prior year, signaling strong growth momentum. The organization ran a surplus of $927K, a strong 42% operating margin.

Mission

HAWAII ISLAND COMMUNITY DEVELOPMENT CORPORATION WAS ESTABLISHED ON JULY 7, 1986, TO PROVIDE FAMILIES WITH LOW AND MODERATE INCOME WITH ADEQUATE HOUSING AND TO ACQUIRE, CONSTRUCT AND PROVIDE HOUSING RELATED ACTIVITIES.

Program Service Accomplishments

Program 1

Expenses: $1,189,280 Revenue: $1,137,278

HICDC HAS BEEN DEVELOPING SELF-HELP HOUSING SINCE 1992. THROUGH 2023, HICDC COMPLETED 391 HOMES FOR LOW-INCOME FAMILIES, ALMOST ALL OF WHICH ARE ON THE ISLAND OF HAWAII. HICDC ALSO WORKED WITH...

HICDC HAS BEEN DEVELOPING SELF-HELP HOUSING SINCE 1992. THROUGH 2023, HICDC COMPLETED 391 HOMES FOR LOW-INCOME FAMILIES, ALMOST ALL OF WHICH ARE ON THE ISLAND OF HAWAII. HICDC ALSO WORKED WITH FAMILIES TO CLOSE 12 USDA RURAL DEVELOPMENT SECTION 502 DIRECT LOANS FOR THE HPP8 AND AINALOA PHASES 1-2 PROJECTS.

Program 2

HICDC HAS DEVELOPED 11 SENIOR HOUSING PROJECTS FOR LOW INCOME RESIDENTS ON THE ISLAND OF HAWAII. THESE 11 PROJECTS HAVE A TOTAL OF 411 UNITS ALL OF WHICH HAVE FEDERAL RENTAL ASSISTANCE. AS OF...

HICDC HAS DEVELOPED 11 SENIOR HOUSING PROJECTS FOR LOW INCOME RESIDENTS ON THE ISLAND OF HAWAII. THESE 11 PROJECTS HAVE A TOTAL OF 411 UNITS ALL OF WHICH HAVE FEDERAL RENTAL ASSISTANCE. AS OF DECEMBER 31, 2023, OTHER PROJECTS THAT WERE IN THE PIPELINE INCLUDE THE 100 UNIT KALOKO HEIGHTS APARTMENT PROJECT FOR LOW INCOME FAMILIES, AND HALE OLA O MOHOULI, A 90 UNIT RENTAL PROJECT IN HILO. IN ADDITION, HICDC IS ASSISTING OTHER NON-PROFIT ORGANIZATIONS IN DEVELOPING A SENIOR RENTAL PROJECT IN PAHOA, AND THE COUNTY OF HAWAII KUKUIOLA TRANSITIONAL HOUSING PROJECT IN KONA.

Program 3

FROM 1996 THROUGH 2018, HICDC HAS DEVELOPED SEVEN SUBDIVISIONS FOR A TOTAL OF 174 LOTS. HICDC ALSO DEVELOPED THE HARRY AND JEANETTE WEINBERG ADULT DAY CENTER IN HILO FOR THE HAWAII ISLAND ADULT CARE...

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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 $1,010,000

Program Service Revenue $1,104,428

Investment Income $69,219

Other Revenue $32,850

TOTAL REVENUE $2,216,497

Expense Breakdown

Grants Paid $0

Salaries & Benefits $897,757

Fundraising Expenses $0

Program Expenses $1,189,280

Other Expenses $392,110

TOTAL EXPENSES $1,289,867

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,216,497	$1,165,639	+0.9%
Expenses	$1,289,867	$1,178,589	+0.1%
Net Income	$926,630	$-12,950	-72.6%

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

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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

Total Directors

Key Employees

$191,316

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GUIDO GIACOMETTI	DIRECTOR	1.00	Director	$0	$0	$0
JOHN RAY	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
NANCY CRAWFORD	PRESIDENT	1.00	Officer Director	$0	$0	$0
ROSS WILSON	DIRECTOR	1.00	Director	$0	$0	$0
VIRGINIA GOLDSTEIN	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
RICHARD HA	DIRECTOR	1.00	Director	$0	$0	$0
KEITH KATO	EXECUTIVE DIRECTOR	20.00	Key Emp	$55,208	$2,208	$191,316
JEREMY MCCOMBER	CHIEF OF OPERATIONS	40.00	Highest	$125,842	$5,101	$130,943
JAN MAKANANI	CHIEF FINANCIAL OFFICER	30.00	Highest	$95,348	$3,862	$128,125

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	$2,216,497	$1,289,867	$43,362,369	$926,630
2022	$1,165,639	$1,178,589	$37,304,021	$-12,950
2021	$1,228,509	$2,378,204	$35,668,224	$-1,149,695
2020	$376,330	$870,788	$39,048,466	$-494,458
2020	$833,030	$1,053,912	$39,267,175	$-220,882
2019	$832,139	$826,704	$38,261,051	$5,435
2019	$1,147,573	$819,394	$38,620,864	$328,179
2018	$2,827,414	$804,878	$37,300,246	$2,022,536

HAWAII ISLAND COMMUNITY DEVELOPMENT CORPORATION