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Malulani Hale FY2024 filing

Tax-deductible

Honolulu, HI501(c)(3)Since 1971EIN 51-0145260Revenue $2.9M in FY2024

On file with the IRS50 S Beretania St Ste C101, 96813-2225 · Honolulu, HITax-exempt since Jun 1975Publicly supported — 509(a)(2)

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501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Status: IRS Pub. 78 · Programs: Part IX

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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $1.2M a year · 43% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
45 mo
of spending, in cash
Looks good: 45.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$6.9M
41% of total assets
Looks good: liabilities are 41% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.9M
+10% vs prior year
Spent
$1.7M
To programs
91%
Net assets
$10.0M
By yearFY2020–FY2025
Revenue
$2.9M
FY2024▲ +10%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.4M
FY2021$2.4M
FY2022$2.5M
FY2023$2.7M
FY2024$2.9M
FY2025$3.0M
Expenses
$1.7M
FY2024▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.0M
FY2021$1.3M
FY2022$1.6M
FY2023$1.7M
FY2024$1.7M
FY2025$1.7M
Net assets
$10.0M
FY2024▲ +14%
Tap a bar for its year
Net assets by fiscal year
FY2020$5.7M
FY2021$6.8M
FY2022$7.7M
FY2023$8.7M
FY2024$10.0M
FY2025$11.3M

From the FY2024 Form 990 (year ending September 2024) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1975.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $1.6M Management & general 9% · $150K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Mark Nagasawa
Treasurer/Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Alfredo Lee
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
See Malulani Hale 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers safe and affordable housing for seniors.

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Provided by the organization

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1 program · $1.6M · in their own filed words · FY2023
01

Operate and maintain housing for the elderly.

$1.6Mprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.9M
Ln 12
Fees for servicesLn 2g$2.5M
Other incomeLn 4–11$213K
Investment incomeLn 3$209K
Money outPt IX
$1.7M
Ln 25
Programscol B$1.6M
Managementcol C$150K
Owns and owesPt X
$10.0M
net assets · Ln 32
Cash and savingsLn 1–2$6.4M
Total assetsLn 16$16.8M
LiabilitiesLn 26$6.9M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$2.5M
Investment incomeLn 3$209K
Other incomeLn 4–11$213K
Total revenueLn 12$2.9M
Assets in detailPt X, end of year
CashLn 1$2.5M
SavingsLn 2$3.9M
Cash and savings togetherLn 1–2$6.4M
Land, buildings, equipmentLn 10c$1.5M
Other assetsLn 15$2.3M
Total assetsLn 16$16.8M
LiabilitiesLn 26$6.9M
Net assetsLn 32$10.0M
OperationsPt I, VI
EmployeesI 54
VolunteersI 60
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$6.9M$6.4M
Land, buildings, equipmentLn 10c$647K$1.5M
Total assetsLn 16$15.9M$16.8M
LiabilitiesLn 26$7.2M$6.9M
Net assetsLn 32$8.7M$10.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$191K$191K
Other employee benefitsLn 9$36K$36K
Payroll taxesLn 10$16K$16K
Management feesLn 11a$150K$150K
Legal feesLn 11b$18K$18K
Accounting feesLn 11c$7K$7K
Other fees for servicesLn 11g$33K$33K
Office expensesLn 13$13K$13K
OccupancyLn 16$180K$180K
InterestLn 20$229K$229K
Depreciation, depletion and amortizationLn 22$260K$260K
InsuranceLn 23$70K$70K
Other expenses (24a–d)Ln 24$418K$418K
All other expensesLn 24e$80K$80K
Total functional expensesLn 25$1.7M$1.6M$150K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $3.0M$1.7M$1.3M$11.3M 990 PDF
FY2024 Viewing $2.9M$1.7M$1.2M$10.0M 990 PDF
FY2023 $2.7M$1.7M$1.0M$8.7M 990 PDF
FY2022 $2.5M$1.6M$934K$7.7M 990 PDF
FY2021 $2.4M$1.3M$1.1M$6.8M 990 PDF
FY2020 $2.4M$1.0M$1.4M$5.7M 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 $2,933,962 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $2,481,124$2,512,290
I-10 Investment incomePrior year $32,167$209,103
I-11 Other revenuePrior year $143,369$212,569
I-12 Total revenuePrior year $2,656,660$2,933,962
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 $219,394$242,445
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,435,646$1,459,528
I-18 Total expensesPrior year $1,655,040$1,701,973
I-19 Revenue less expensesPrior year $1,001,620$1,231,989
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $2,933,962 across 4 lines filed
Lines not itemized here account for $1,096 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,512,290$2,512,290
VIII-3 Investment incomeExcluded from tax $209,103$209,103
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $172,814 · Excluded from tax $38,659$211,473
VIII-12 Total revenueRelated to mission $2,685,104 · Unrelated business $0 · Excluded from tax $248,858$2,933,962
Part IX · Statement of functional expenses $1,701,973 across 14 lines filed
IX-7 Other salaries and wagesPrograms $190,509$190,509
IX-9 Other employee benefitsPrograms $36,356$36,356
IX-10 Payroll taxesPrograms $15,580$15,580
IX-11a Management feesManagement $149,868$149,868
IX-11b Legal feesPrograms $18,355$18,355
IX-11c Accounting feesPrograms $7,304$7,304
IX-11g Other fees for servicesPrograms $33,207$33,207
IX-13 Office expensesPrograms $12,987$12,987
IX-16 OccupancyPrograms $180,000$180,000
IX-20 InterestPrograms $229,347$229,347
IX-22 Depreciation, depletion and amortizationPrograms $260,183$260,183
IX-23 InsurancePrograms $69,625$69,625
IX-24 Other expenses (24a–d)Programs $418,184$418,184
IX-24e All other expensesPrograms $80,468$80,468
IX-25 Total functional expensesPrograms $1,552,105 · Management $149,868 · Fundraising $0$1,701,973
Part X · Balance sheet $16,815,577 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $2,488,875$2,544,216
X-2 Savings and temporary cash investmentsStart of year $4,452,007$3,889,972
X-4 Accounts receivableStart of year $9,044$1,543
X-9 Prepaid expenses and deferred chargesStart of year $34,087$35,748
X-10c Land, buildings and equipment, netStart of year $646,791$1,523,810
X-14 Intangible assetsStart of year $6,701,258$6,554,782
X-15 Other assetsStart of year $1,606,381$2,265,506
X-16 Total assetsStart of year $15,938,443$16,815,577
X-17 Accounts payable and accrued expensesStart of year $252,558$42,448
X-25 Other liabilitiesStart of year $200,815$203,319
X-26 Total liabilitiesStart of year $7,205,099$6,850,244
X-27 Net assets without donor restrictionsStart of year $8,733,344$9,965,333
X-32 Total net assets or fund balancesStart of year $8,733,344$9,965,333
X-33 Total liabilities and net assetsStart of year $15,938,443$16,815,577
Part XI · Reconciliation of net assets $9,965,333 net assets at year end
XI-1 Total revenue$2,933,962
XI-2 Total expenses$1,701,973
XI-3 Revenue less expenses$1,231,989
XI-4 Net assets at start of year$8,733,344
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$9,965,333

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

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