FRIENDS OF HAWAII CHARITIES INC C/… - Form 990 Financial Data

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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

1998

Legal Domicile

Principal Officer

CORBETT A K KALAMA

Phone

8085237888

Tax Period

2024-06-01 to 2025-05-31

FRIENDS OF HAWAII CHARITIES INC C/O 141 HAWAII LLC, founded in 1998, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $379K in total revenue in fiscal year 2024. Revenue fell 23% from the prior year — a significant decline worth monitoring. Expenses of $650K exceeded revenue, resulting in a 71% operating deficit.

Mission

FRIENDS OF HAWAII CHARITIES ACTIVATES FINANCIAL RESOURCES FROM THE PRIVATE SECTOR AND SPIRITED VOLUNTEERISM FROM THE COMMUNITY, IN CONCERT WITH THE EXTRAORDINARY NATURAL RESOURCES OF THE STATE, TO PRODUCE SPORTS AND CULTURAL EVENTS THAT GENERATE FUNDS FOR QUALIFYING NOT-FOR-PROFIT ENDEAVORS IN HAWAII BENEFITING ITS WOMEN, CHILDREN, YOUTH, AND NEEDY, PRIMARILY IN THE AREAS OF INTERVENTION, HEALTH, AND EDUCATION.

Program Service Accomplishments

Program 1

Expenses: $599,006 Revenue: $5,529,965

PROVIDED FUNDS FOR QUALIFYING NOT-FOR-PROFIT ENDEAVORS IN HAWAII BENEFITING WOMEN, CHILDREN, YOUTH, AND NEEDY.

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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 $1,786,204

Program Service Revenue $0

Investment Income $0

Other Revenue $-1,407,011

TOTAL REVENUE $379,193

Expense Breakdown

Grants Paid $599,006

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $599,006

Other Expenses $50,942

TOTAL EXPENSES $649,948

Year-over-Year Comparison

	2024	2023	Change
Revenue	$379,193	$489,630	-0.2%
Expenses	$649,948	$699,708	-0.1%
Net Income	$-270,755	$-210,078	+0.3%

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

N/A

Volunteers

1000

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

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CORBETT A K KALAMA	PRESIDENT/EX	0.50	Officer Director	$0	$0	$0
CHAD KARASAKI	VP/EXEC COMM	0.50	Officer Director	$0	$0	$0
HOWARD IKEDA	TREASURER/EX	0.50	Officer Director	$0	$0	$0
DICKSON LEE	SECRETARY/EX	0.50	Officer Director	$0	$0	$0
RIYO TONOMOTO THRU APRIL 2025	EXECUTIVE CO	0.50	Director	$0	$0	$0
CALEB CHAN	DIRECTOR	0.50	Director	$0	$0	$0
MIKE DYER	EXECUTIVE CO	0.50	Director	$0	$0	$0
ADMIRAL THOMAS B FARGO USN RET	DIRECTOR	0.50	Director	$0	$0	$0
DAVID HAMAMOTO	DIRECTOR	0.50	Director	$0	$0	$0
MICHAEL HARTLEY	DIRECTOR	0.50	Director	$0	$0	$0
JUNE JONES	DIRECTOR	0.50	Director	$0	$0	$0
FUMIATSU HIRAI	DIRECTOR	0.50	Director	$0	$0	$0
MICHAEL W PERRY	DIRECTOR	0.50	Director	$0	$0	$0
RYOZO SAKAI	DIRECTOR	0.50	Director	$0	$0	$0
TODD APO	DIRECTOR	0.50	Director	$0	$0	$0
AL SOUZA	EXECUTIVE CO	0.50	Director	$0	$0	$0
KEITH VIEIRA	DIRECTOR	0.50	Director	$0	$0	$0
JIM WALTERS	DIRECTOR	0.50	Director	$0	$0	$0
REGGIE MALDONADO	DIRECTOR	0.50	Director	$0	$0	$0
JENNIFER ISOBE	DIRECTOR	0.50	Director	$0	$0	$0
MITCHELL M KAAIALII	EXECUTIVE CO	0.50	Director	$0	$0	$0
MICAH KANE	EXECUTIVE CO	0.50	Director	$0	$0	$0
ERIC YEAMAN	EXECUTIVE CO	0.50	Director	$0	$0	$0
MICHAEL KAWAZOE	EXECUTIVE CO	0.50	Director	$0	$0	$0
MISTY TUFONO	DIRECTOR	0.50	Director	$0	$0	$0
JON KOBAYASHI	DIRECTOR	0.50	Director	$0	$0	$0
JOHN UEKAWA	DIRECTOR	0.50	Director	$0	$0	$0
RANDY HIRAKI	DIRECTOR	0.50	Director	$0	$0	$0
NEILL CHAR	DIRECTOR	0.50	Director	$0	$0	$0
SCOTT HAYASHI TERM END JAN 2025	DIRECTOR	0.50	Director	$0	$0	$0
SHAUN USHIJIMA TERM BEG FEB 2025	DIRECTOR	0.50	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
2025	$379,193	$649,948	$2,369,025	$-270,755
2024	$489,630	$699,708	$2,270,596	$-210,078
2023	$159,391	$695,324	$2,866,656	$-535,933
2022	$1,125,429	$1,303,579	$3,000,826	$-178,150
2021	$2,139,671	$1,424,830	$3,166,731	$714,841

FRIENDS OF HAWAII CHARITIES INC C/O 141 HAWAII LLC