Craigside Retirement Residence

Tax-deductible

Honolulu, HI501(c)(3)Since 2006Human ServicesEIN 35-2272376Revenue $27.5M in FY2024

On file with the IRSarcadia.org1434 Punahou St, 96822-4701 · Honolulu, HITax-exempt since Oct 2007Publicly supported — 509(a)(2)

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15 Craigside provides senior living excellence in a gracious, compassionate and dynamic environment. The primary purpose is to further the health and general welfare of the elderly by providing housing, healthcare, and financial security with a superior continuum of assured lifetime care to meet the spiritual, physical and social needs of every resident.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
Run by 8 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
0 of 5
filings with a surplus
Average deficit $1.6M a year · 7% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$723K
to officers and key staff · 3% of spending
Top officer’s pay lower than 66% of similar orgs
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $480K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$115.1M
179% of total assets
Concern: liabilities are 179% of assets; over 80%.
Pt X · Ln 26
Independent board members
10
of 12 voting members
Looks good: 10 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$27.5M
+15% vs prior year
Spent
$28.5M
To programs
84%
Net assets
−$50.9M
By yearFY2020–FY2024
Revenue
$27.5M
FY2024▲ +15%
Tap a bar for its year
Revenue by fiscal year
FY2020$23.1M
FY2021$22.0M
FY2022$23.5M
FY2023$24.0M
FY2024$27.5M
Expenses
$28.5M
FY2024▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2020$23.9M
FY2021$24.5M
FY2022$25.1M
FY2023$26.3M
FY2024$28.5M
Net assets
−$50.9M
FY2024+0.2%
Tap a bar for its year
Net assets by fiscal year
FY2020−$50.9M
FY2021−$51.9M
FY2022−$48.7M
FY2023−$51.0M
FY2024−$50.9M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2007.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $24.0M Management & general 16% · $4.5M

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

17 people listed on the 990; $723K paid to officers and key staff.

Part VII, Section A · reportable compensation
Registered Nurse
$180,109Pt VII · Sec A
Registered Nurse
$141,080Pt VII · Sec A
Registered Nurse
$137,054Pt VII · Sec A
Director of Nursing
$132,841Pt VII · Sec A
Registered Nurse
$131,599Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

May Rieta’s $180K as Registered Nurse is at the 34th percentile of top reported officer pay among 3122 $10–100M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
May Rieta$180,109$186,113$176,765$130,426$144,893
Keleka Ho'okano—$143,755$123,172——
Jo Ann Erice$131,599$141,425$140,307——
Angelica Rances$141,080————
Zandra Padayao$137,054————
Rosalie D'Sanson$132,841$132,289—$116,651$111,737
Elaine Velasco—$132,300———
Maria Carina Fernandez——$124,374$102,511—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers seniors housing, healthcare, and financial security for a superior, assured lifetime of care.

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Provided by the organization

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3 programs · $24.0M · in their own filed words · FY2024
01

Monthly Service Charge

Craigside provides room, board and other services for 180 residents. The average monthly fee charged to each resident is $6,000 in 2024. Craigside pays for all EXPENSES.ENTRANCE fee amortization - new residents pay for a lifetime interest in their apartment.

$12.3Mprogram expense
02

Health Care Center

Craigside has a licensed skilled nursing, intermediate care and special care facility with 45 nursing facility beds available for use by residents. All 45 beds are medicare certified. The average census was 43 in 2024 with a per diem rate of $472 for semi-private rooms for long-term residents in 2024.

$8.6Mprogram expense
03

Assisted Living Services

Program to provide help to residents who are not clinically restricted to beds and are not physically or mentally able to live independently. Residents enrolled can have an independent lifestyle with help provided by craigside. This can include services from medication management to assistance with many of the activities of daily living.

$3.2Mprogram 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
Total grants receivedfrom 1 funder$480K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$27.5M
Ln 12
Fees for servicesLn 2g$26.7M
Gifts and grantsLn 1h$591K
Investment incomeLn 3$226K
Money outPt IX
$28.5M
Ln 25
Programscol B$24.0M
Managementcol C$4.5M
Owns and owesPt X
−$50.9M
net assets · Ln 32
Cash and savingsLn 1–2$4.4M
Total assetsLn 16$64.2M
LiabilitiesLn 26$115.1M
PeoplePt VI, VII
17
listed · VII A
PaidVII A5
Voting boardVI 1a12
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$591K
Fees for servicesLn 2g$26.7M
Investment incomeLn 3$226K
Other incomeLn 4–11$875
Gains on assetsLn 7$33K
Total revenueLn 12$27.5M
Assets in detailPt X, end of year
CashLn 1$4.4M
SavingsLn 2$22K
Cash and savings togetherLn 1–2$4.4M
InvestmentsLn 11–13$9.2M
Land, buildings, equipmentLn 10c$45.2M
Other assetsLn 15$2.9M
Total assetsLn 16$64.2M
LiabilitiesLn 26$115.1M
Net assetsLn 32−$50.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 68
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 FY24End FY24
Cash and savingsLn 1–2$4.4M$4.4M
InvestmentsLn 11–13$5.7M$9.2M
Land, buildings, equipmentLn 10c$46.7M$45.2M
Total assetsLn 16$60.9M$64.2M
LiabilitiesLn 26$111.9M$115.1M
Net assetsLn 32−$51.0M−$50.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$11.0M$10.6M$360K
Pension plan contributionsLn 8$804K$780K$24K
Other employee benefitsLn 9$1.5M$1.5M$61K
Payroll taxesLn 10$841K$813K$28K
Management feesLn 11a$1.1M$692K$401K
Legal feesLn 11b$5K$5K
Accounting feesLn 11c$28K$28K
Investment management feesLn 11f$27K$27K
Other fees for servicesLn 11g$588K$588K
Advertising and promotionLn 12$761K$761K
Office expensesLn 13$577K$482K$95K
Information technologyLn 14$267K$94K$173K
OccupancyLn 16$1.3M$1.3M$24K
Conferences, conventions and meetingsLn 19$37K$28K$9K
InterestLn 20$2.0M$2.0M
Depreciation, depletion and amortizationLn 22$2.0M$2.0M
InsuranceLn 23$312K$69K$243K
Other expenses (24a–d)Ln 24$4.4M$3.5M$896K
All other expensesLn 24e$949K$821K$128K
Total functional expensesLn 25$28.5M$24.0M$4.5M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $27.5M$28.5M−$939K−$50.9M 990 PDF
FY2023 $24.0M$26.3M−$2.3M−$51.0M 990 PDF
FY2022 $23.5M$25.1M−$1.6M−$48.7M 990 PDF
FY2021 $22.0M$24.5M−$2.5M−$51.9M 990 PDF
FY2020 $23.1M$23.9M−$812K−$50.9M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $27,527,388 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $202,586$590,778
I-9 Program service revenuePrior year $23,687,324$26,709,615
I-10 Investment incomePrior year $105,955$226,120
I-11 Other revenuePrior year $927$875
I-12 Total revenuePrior year $23,996,792$27,527,388
I-13 Grants and similar amounts paidPrior year $8,119$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $12,955,711$14,161,784
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $13,345,296$14,304,241
I-18 Total expensesPrior year $26,309,126$28,466,025
I-19 Revenue less expensesPrior year −$2,312,334−$938,637
Part VI · Governance 10 of 12 board members independent, 1 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members10
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $27,527,388 across 8 lines filed
VIII-1d Related organizations$480,000
VIII-1f All other contributions, gifts and grants$110,778
VIII-1h Total contributions, gifts and grants$590,778
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $26,709,615$26,709,615
VIII-3 Investment incomeExcluded from tax $192,707$192,707
VIII-7 Net gain or loss on sales of assetsExcluded from tax $33,413$33,413
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $875$875
VIII-12 Total revenueRelated to mission $26,710,490 · Unrelated business $0 · Excluded from tax $226,120$27,527,388
Part IX · Statement of functional expenses $28,466,025 across 19 lines filed
IX-7 Other salaries and wagesPrograms $10,625,891 · Management $359,977$10,985,868
IX-8 Pension plan contributionsPrograms $779,650 · Management $24,076$803,726
IX-9 Other employee benefitsPrograms $1,469,601 · Management $61,296$1,530,897
IX-10 Payroll taxesPrograms $813,101 · Management $28,192$841,293
IX-11a Management feesPrograms $691,639 · Management $400,658$1,092,297
IX-11b Legal feesManagement $5,079$5,079
IX-11c Accounting feesManagement $27,859$27,859
IX-11f Investment management feesManagement $26,790$26,790
IX-11g Other fees for servicesPrograms $588,490$588,490
IX-12 Advertising and promotionPrograms $761,208$761,208
IX-13 Office expensesPrograms $481,816 · Management $94,924$576,740
IX-14 Information technologyPrograms $94,094 · Management $173,054$267,148
IX-16 OccupancyPrograms $1,256,652 · Management $24,000$1,280,652
IX-19 Conferences, conventions and meetingsPrograms $27,923 · Management $9,168$37,091
IX-20 InterestManagement $1,968,670$1,968,670
IX-22 Depreciation, depletion and amortizationPrograms $2,038,191$2,038,191
IX-23 InsurancePrograms $68,948 · Management $242,789$311,737
IX-24 Other expenses (24a–d)Programs $3,477,557 · Management $896,076$4,373,633
IX-24e All other expensesPrograms $820,906 · Management $127,750$948,656
IX-25 Total functional expensesPrograms $23,995,667 · Management $4,470,358 · Fundraising $0$28,466,025
Part X · Balance sheet $64,211,951 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $4,290,355$4,390,304
X-2 Savings and temporary cash investmentsStart of year $97,049$21,844
X-4 Accounts receivableStart of year $3,363,115$2,287,906
X-8 Inventories for sale or useStart of year $141,666$140,497
X-9 Prepaid expenses and deferred chargesStart of year $32,566$118,584
X-10c Land, buildings and equipment, netStart of year $46,745,192$45,171,076
X-11 Publicly traded securitiesStart of year $5,678,468$9,152,624
X-15 Other assetsStart of year $596,869$2,929,116
X-16 Total assetsStart of year $60,945,280$64,211,951
X-17 Accounts payable and accrued expensesStart of year $1,269,424$1,430,660
X-19 Deferred revenueStart of year $32,147,862$36,743,004
X-20 Tax-exempt bond liabilitiesStart of year $50,609,194$48,620,218
X-25 Other liabilitiesStart of year $27,896,036$28,303,429
X-26 Total liabilitiesStart of year $111,922,516$115,097,311
X-27 Net assets without donor restrictionsStart of year −$50,977,236−$50,885,360
X-32 Total net assets or fund balancesStart of year −$50,977,236−$50,885,360
X-33 Total liabilities and net assetsStart of year $60,945,280$64,211,951
Part XI · Reconciliation of net assets −$50,885,360 net assets at year end
XI-1 Total revenue$27,527,388
XI-2 Total expenses$28,466,025
XI-3 Revenue less expenses−$938,637
XI-4 Net assets at start of year−$50,977,236
XI-5 Net unrealized gains (losses) on investments$425,329
XI-9 Other changes in net assets$605,184
XI-10 Net assets at end of year−$50,885,360

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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