Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1982.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
91 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
13 people listed on the 990; $479K paid to officers and key staff.
Compensation history total reportable pay by year · 5 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| David Perkins | — | — | — | $151,188 | $275,464 | $234,526 |
| Shawn Higa | $197,031 | $189,538 | $152,791 | $186,565 | $138,968 | $135,669 |
| Myles Miyachi | $150,568 | $144,749 | $117,294 | $40,333 | — | — |
| Nalia Felipe | $99,245 | $95,526 | $77,943 | $89,612 | $92,101 | $87,212 |
| Arleen a Tarnay | $22,856 | $49,562 | $47,042 | $83,765 | $88,406 | $69,733 |
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.
See Hedco Local Development Corporation executive salaries →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 15aYes
Programs and updates
Helps small businesses grow and develop through promotion and assistance.
Questions for Hedco Local Development Corporation
Your first name shows with your question. Hedco Local Development Corporation answers here, for everyone.
Hedco local development corporation provides financing and growth and development assistance to small businesses. During the fiscal year ended september 30, 2024, hedco local development provided financing to 11 small businesses.
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $4.8M | $5.0M |
| Land, buildings, equipmentLn 10c | $164K | $163K |
| Total assetsLn 16 | $5.0M | $5.2M |
| LiabilitiesLn 26 | $113K | $101K |
| Net assetsLn 32 | $4.9M | $5.1M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $529K | $476K | $53K | |
| Other salaries and wagesLn 7 | $86K | $78K | $9K | |
| Pension plan contributionsLn 8 | $6K | $5K | $603 | |
| Other employee benefitsLn 9 | $30K | $27K | $3K | |
| Payroll taxesLn 10 | $46K | $42K | $5K | |
| Accounting feesLn 11c | $35K | $35K | ||
| Advertising and promotionLn 12 | $2K | $2K | ||
| Office expensesLn 13 | $7K | $6K | $711 | |
| OccupancyLn 16 | $75K | $67K | $7K | |
| TravelLn 17 | $576 | $576 | ||
| Conferences, conventions and meetingsLn 19 | $26K | $26K | ||
| Depreciation, depletion and amortizationLn 22 | $8K | $8K | $848 | |
| InsuranceLn 23 | $11K | $10K | $1K | |
| Other expenses (24a–d)Ln 24 | $100K | $95K | $5K | |
| All other expensesLn 24e | $6K | $6K | $500 | |
| Total functional expensesLn 25 | $969K | $883K | $86K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 LatestFiled with the IRS Mar 30, 2026 | $1.2M | $952K | $236K | $5.4M | 990 PDF |
| FY2024 ViewingFiled with the IRS Mar 31, 2025 | $1.2M | $969K | $244K | $5.1M | 990 PDF |
| FY2023Filed with the IRS Jul 24, 2024 | $1.2M | $974K | $225K | $4.9M | 990 PDF |
| FY2022Filed with the IRS Feb 2, 2023 | $1.0M | $1.0M | $4K | $4.7M | 990 PDF |
| FY2021Filed with the IRS Feb 28, 2022 | $1.3M | $1.1M | $136K | $4.7M | 990 PDF |
| FY2020Filed with the IRS Mar 1, 2021 | $1.5M | $905K | $585K | $4.6M | 990 PDF |
Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $1,213,069 revenue, 12 lines filed
Part VI · Governance 8 of 8 board members independent, 1 to look at
Part VIII · Statement of revenue $1,213,069 across 4 lines filed
Part IX · Statement of functional expenses $968,896 across 15 lines filed
Part X · Balance sheet $5,236,633 assets, 13 lines filed
Part XI · Reconciliation of net assets $5,135,523 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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