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Hhoc Mortgage FY2020 filing

Tax-deductible

Honolulu, HI501(c)(3)Housing EIN 27-1240023Revenue $542K in FY2020

On file with the IRS1259 Aala St Ste 201, 96817-3962 · Honolulu, HITax-exempt since Aug 2010Publicly supported — 509(a)(2)

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To assist low to moderate income home buyers in hawaii with down payment assistance, and affordable financing. Hhoc Mortgage is dedicated to offering affordable Mortgage loans to hawaii's homebuyers that are competitively priced. Hhoc Mortgage primarily serves low and moderate income target markets and communities. Hhoc Mortgage also provides financial support to hawaii homeownership center to enable continuance of its mission to provide prospective homebuyers with financial education and coaching.

501(c)(3) charity; gifts are tax-deductible.
50¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $554K a year · 63% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
50%
of spending
Worth a look: 50% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
36 mo
of spending, in cash
Looks good: 35.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $46K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$394K
13% of total assets
Looks good: liabilities are 13% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$542K
Spent
$412K
To programs
50%
Net assets
$2.5M
By yearFY2020–FY2024
Revenue
$542K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$542K
FY2021$1.5M
FY2022$303K
FY2023$1.1M
FY2024$886K
Expenses
$412K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$412K
FY2021$377K
FY2022$346K
FY2023$242K
FY2024$236K
Net assets
$2.5M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$2.5M
FY2021$3.7M
FY2022$3.7M
FY2023$4.5M
FY2024$5.2M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2010.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

50 cents of each dollar spent went to programs.

Program services 50% · $207K Management & general 50% · $205K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Michael Miller
Vice President
$0Pt VII · Sec A
Peter Nagata
Treasurer/Secretary
$0Pt VII · Sec A
Robert Chow
Director
$0Pt VII · Sec A
Mark Kimoto
Director
$0Pt VII · Sec A
Grant Chun
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Reina Miyamoto
Executive Director
$0Pt VII · Sec A
See Hhoc Mortgage executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Helps Hawaii residents with down payment assistance and affordable home loans.

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Provided by the organization

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1 program · $207K · in their own filed words · FY2020
01

Hhoc mortgage (hhocm) strives to serve its primary mission of serving the LOW/MODERATE income, first-time home buyers by providing them with the most affordable financing program(s) available.

$207Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Hawaii Homeownership CenterFY2024$46K
Total grants receivedfrom 1 funder$46K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$542K
Ln 12
Fees for servicesLn 2g$345K
Gifts and grantsLn 1h$195K
Investment incomeLn 3$2K
Money outPt IX
$412K
Ln 25
Programscol B$207K
Managementcol C$205K
Owns and owesPt X
$2.5M
net assets · Ln 32
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$2.9M
LiabilitiesLn 26$394K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$195K
Government grantsLn 1e$195K
Fees for servicesLn 2g$345K
Investment incomeLn 3$2K
Gains on assetsLn 7−$108
Total revenueLn 12$542K
Assets in detailPt X, end of year
CashLn 1$1.1M
SavingsLn 2$126K
Cash and savings togetherLn 1–2$1.2M
InvestmentsLn 11–13$27K
Land, buildings, equipmentLn 10c$4K
Total assetsLn 16$2.9M
LiabilitiesLn 26$394K
Net assetsLn 32$2.5M
OperationsPt I, VI
EmployeesI 55
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$1.1M$1.2M
InvestmentsLn 11–13$27K$27K
Land, buildings, equipmentLn 10c$3K$4K
Total assetsLn 16$2.9M$2.9M
LiabilitiesLn 26$437K$394K
Net assetsLn 32$2.4M$2.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$226K$124K$101K
Other employee benefitsLn 9$21K$12K$10K
Payroll taxesLn 10$21K$11K$9K
Legal feesLn 11b$6K$6K
Investment management feesLn 11f$175$175
Office expensesLn 13$102K$39K$63K
OccupancyLn 16$16K$6K$10K
Conferences, conventions and meetingsLn 19$3K$3K$50
InterestLn 20$3K$3K
Depreciation, depletion and amortizationLn 22$1K$396$633
InsuranceLn 23$14K$5K$8K
Total functional expensesLn 25$412K$207K$205K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $886K$236K$650K$5.2M 990 PDF
FY2023 $1.1M$242K$861K$4.5M 990 PDF
FY2022 $303K$346K−$43K$3.7M 990 PDF
FY2021 $1.5M$377K$1.2M$3.7M 990 PDF
FY2020 Viewing $542K$412K$130K$2.5M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $542,379 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $407,187$194,708
I-9 Program service revenuePrior year $296,504$345,310
I-10 Investment incomePrior year $2,401$2,361
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $706,092$542,379
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $256,829$267,850
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $270,063$144,295
I-18 Total expensesPrior year $526,892$412,145
I-19 Revenue less expensesPrior year $179,200$130,234
Part VI · Governance 7 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $542,379 across 6 lines filed
VIII-1e Government grants$194,708
VIII-1h Total contributions, gifts and grants$194,708
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $296,884 · Unrelated business $48,426$345,310
VIII-3 Investment incomeExcluded from tax $2,469$2,469
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$108−$108
VIII-12 Total revenueRelated to mission $296,884 · Unrelated business $48,426 · Excluded from tax $2,361$542,379
Part IX · Statement of functional expenses $412,145 across 11 lines filed
IX-7 Other salaries and wagesPrograms $124,285 · Management $101,360$225,645
IX-9 Other employee benefitsPrograms $11,842 · Management $9,657$21,499
IX-10 Payroll taxesPrograms $11,405 · Management $9,301$20,706
IX-11b Legal feesPrograms $6,201$6,201
IX-11f Investment management feesManagement $175$175
IX-13 Office expensesPrograms $39,055 · Management $62,514$101,569
IX-16 OccupancyPrograms $6,012 · Management $9,619$15,631
IX-19 Conferences, conventions and meetingsPrograms $2,643 · Management $50$2,693
IX-20 InterestManagement $3,393$3,393
IX-22 Depreciation, depletion and amortizationPrograms $396 · Management $633$1,029
IX-23 InsurancePrograms $5,232 · Management $8,372$13,604
IX-25 Total functional expensesPrograms $207,071 · Management $205,074 · Fundraising $0$412,145
Part X · Balance sheet $2,943,127 assets, 15 lines filed
Asset lines not itemized here account for $1,665,045; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $849,557$1,097,941
X-2 Savings and temporary cash investmentsStart of year $275,879$125,682
X-3 Pledges and grants receivableStart of year $12,228$10,964
X-4 Accounts receivable$511
X-9 Prepaid expenses and deferred chargesStart of year $16,941$12,644
X-10c Land, buildings and equipment, netStart of year $3,400$3,722
X-11 Publicly traded securitiesStart of year $26,623$26,618
X-16 Total assetsStart of year $2,855,409$2,943,127
X-17 Accounts payable and accrued expensesStart of year $28,720$27,593
X-25 Other liabilitiesStart of year $407,907$366,391
X-26 Total liabilitiesStart of year $436,627$393,984
X-27 Net assets without donor restrictionsStart of year $1,134,302$1,138,155
X-28 Net assets with donor restrictionsStart of year $1,284,480$1,410,988
X-32 Total net assets or fund balancesStart of year $2,418,782$2,549,143
X-33 Total liabilities and net assetsStart of year $2,855,409$2,943,127
Part XI · Reconciliation of net assets $2,549,143 net assets at year end
XI-1 Total revenue$542,379
XI-2 Total expenses$412,145
XI-3 Revenue less expenses$130,234
XI-4 Net assets at start of year$2,418,782
XI-5 Net unrealized gains (losses) on investments$127
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,549,143

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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