Pacific Rim Education Foundation Inc

EIN: 990277983 501(c)(3) Education

Kailua Kona, HI

Total Revenue
$146,806
Total Expenses
$297,013
Total Assets
$15,942,562
Net Assets
$15,941,847
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Financial Trends

Organization Details

Formation Year
1990
Legal Domicile
HI
Principal Officer
Charles Frumin
Phone
8083262344
Tax Period
2024-01-01 to 2024-12-31

Pacific Rim Education Foundation Inc, founded in 1990, is a small nonprofit in the Education sector that reported $147K in total revenue in fiscal year 2024. Revenue decreased 16% compared to the prior year. Expenses of $297K exceeded revenue, resulting in a 102% operating deficit.

Mission

We sponsor educational programs, fund charitable activities and support practices which nurture love, wisdom, wellness, and peace within individuals and families, and which promote understanding and connectedness among communities.

Program Service Accomplishments

Program 1
Expenses: $209,522 Revenue: $26,848

Kokua Academy PREF supported the private school called Kokua Academy (grade K to 5th). Their school was held on the PREF owned property at 75-1048 Henry St, Kailua Kona, Hawaii. In 2024 the school...

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Kokua Academy PREF supported the private school called Kokua Academy (grade K to 5th). Their school was held on the PREF owned property at 75-1048 Henry St, Kailua Kona, Hawaii. In 2024 the school existed from January to June with up to 40 total students. Kokua Academy is a private, independent day school. The school is dedicated to providing a positive educational environment for each student by engaging them in real-world, project based learning experiences. Kona Ocean Challenge Program The Annual Ocean Challenge program sponsored by PREF was held in December, 2024 at the Hawaiian Queen Coffee Garden. The outdoor education program for young people centered on personal growth and self?discovery. The seven day program consisted of morning devotional readings, boating, hiking, fishing and discovering the sites on the Big Island. A total of 8 participants plus five staff members participated.Ukulele & Guitar LessonsThroughout 2024 PREF has sponsored free Ukulele at the Hawaii Queen Coffee Garden for the Kona Community. Approximately fourteen to fifteen lessons took place at the Hawaiian Queen Coffee Garden in 2024. Rev. Chuck Frumin is the teacher of the lessons.Origami ClassOn December 14, 2024 PREF offering a community Origami class to learn the art of Japanese Paper Folding.Approximately 8 people attended.Community EventsBig Island Excellence in Parenting Award ProgramThe Excellence in Parenting Award Program on July 26, 2024 was sponsored by PREF. Held at the Hawaiian Queen Coffee Garden the program promotes and encourages families to invest in our young children in our community. Big Island Mayor Mitch Roth sent a written message congratulating the two Kona couples who won the award: Dana Mclaughlin, founder of the Hawaii Keiki Museum and Charis Higginson, founder of Humanity Hale both won the Excellence in Parenting Award. They received $500 each from PREF as an award.Thanksgiving Interfaith ConcertThe Kona Thanksgiving Interfaith Concert held on November 25, 2024 was sponsored by PREF. Choirs from diverse faith communities in Kona participated in the Interfaith event. Although sponsored by PREF the event took place at the Lutheran Church of the Holy Trinity in Kona. Donations at the event were collected for the Hawaii Island Food Bank in Kona. Ten different religious organization from Kona performed.Religious ProgramsOutdoor Church BBQ Service for the CommunityAn outdoor BBQ and Ping Pong Tournament for the community was held on Sept. 22, 2024 in honor of World Peace Day. PREF and also the Kona Family Church sponsored the event. It was a family event including games and an inflatable Jumper for children. It included a Ping Pong Tournament. Kids also had an opportunity to learn Japanese Origami paper folding. Approximately 48 people attended.Easter Egg HuntPREF sponsored an Easter Egg hunt on March 31, 2024 at the Hawaiian Queen Coffee Garden.Approximately twenty people including parents with children participated in the Egg Hunt.Religious Organizations Using the Hawaiian Queen Coffee GardenIn 2024 the following Religious organizations used the PREF owned facility at 75-1048 Henry Street, Kailua Kona, Hawaii for their own religious services. Congregation Kona Beth Shalom --- Used approximately 6 times in 2024Marshallese Assembly of God --- Used approximately 24 times in 2024Kona Family Church ---- Used approximately 52 times in 2024Self Realization Fellowship ---- Used approximately 9 times in 2024

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $25,010
Program Service Revenue $26,848
Investment Income $94,948
Other Revenue $0
TOTAL REVENUE $146,806

Expense Breakdown

Grants Paid $83,499
Salaries & Benefits $86,334
Fundraising Expenses $0
Program Expenses $209,522
Other Expenses $127,180
TOTAL EXPENSES $297,013

Year-over-Year Comparison

2024 2023 Change
Revenue $146,806 $173,829 -0.2%
Expenses $297,013 $532,287 -0.4%
Net Income $-150,207 $-358,458 -0.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
5
Independent Members
4
Employees
1
Volunteers
3

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
2
$39,463
Total Directors
5
$39,463
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Dr Sangkun Kim President, Chairperson 2.00
Officer Director
$0 $0 $0
Charles Frumin Director and Secretary 25.00
Officer Director
$30,866 $8,597 $39,463
Farley Jones Director 2.00
Director
$0 $0 $0
Hyungduk Kim Director 1.00
Director
$0 $0 $0
Yunjin Kim Director 1.00
Director
$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
2024 $146,806 $297,013 $15,942,562 $-150,207
2023 $173,829 $532,287 $16,959,099 $-358,458
2022 $127,974 $277,270 $17,747,902 $-149,296
2021 $99,350 $254,871 $18,727,084 $-155,521
2020 $43,570 $167,092 $19,186,604 $-123,522
2019 $175,590 $176,911 $19,618,846 $-1,321
2018 $57,781 $216,398 $19,926,624 $-158,617
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