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David C Ai Charitable Trust FY2024 filing

Tax-deductible

Honolulu, HI501(c)(3)Since 1996Foundations & GrantmakersEIN 99-6078252Revenue $797K in FY2024

On file with the IRSPo Box 1559, 96806-1559 · Honolulu, HITax-exempt since Feb 1998Supporting organization — 509(a)(3)

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"the trustee shall distribute all of the net income of the Charitable Trust each year and may distribute so much or all of the principal of the charitbale Trust as IT deems necessary for the Charitable trust's purposes, consistent with the long term needs of the beneficiaries." "payment shall be made, first, to the nuuanu YMCA, honolulu, hawaii, to fund its teen fitness program...". "any net income remaining and any principal distributions the trustee may deem necessary shall be distributed to such one or more Charitable orginizations listed on exhibit III ... In such amounts, as the trustee shall determine."

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · 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
3 of 6
filings with a surplus
Average surplus $747K a year · 55% of revenue · last 6 filings
Worth a look: a surplus in 3 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
4 mo
of spending, in cash
Looks good: 3.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 4 voting members
Fine: 2 of 4 voting members are independent, half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$797K
-86% vs prior year
Spent
$1.1M
To programs
91%
Net assets
$15.7M
By yearFY2020–FY2025
Revenue
$797K
FY2024▼ -86%
Tap a bar for its year
Revenue by fiscal year
FY2020$161K
FY2021$440K
FY2022$97K
FY2023$5.8M
FY2024$797K
FY2025$854K
Expenses
$1.1M
FY2024▲ +14%
Tap a bar for its year
Expenses by fiscal year
FY2020$133K
FY2021$150K
FY2022$317K
FY2023$946K
FY2024$1.1M
FY2025$1.0M
Net assets
$15.7M
FY2024▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.8M
FY2021$4.2M
FY2022$9.1M
FY2023$15.0M
FY2024$15.7M
FY2025$17.4M

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

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 Feb 1998.

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% · $990K Management & general 9% · $92K

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

4 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jim Yates
Trustee
$0Pt VII · Sec A
See David C Ai Charitable Trust 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

Supports local YMCA programs and other charities.

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Provided by the organization

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3 programs · $990K · in their own filed words · FY2024
01

Eight local charities distribution of 2023 income

$616Kprogram expense
02

Ymca teen fitness program distribution of 2023 income

$375Kprogram expense
03

See the following statements for program service accomplishments.

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 19 grants · $2.7M · 2020–2025
YMCAHI · FY2025$675,000
'iolani SchoolHI · FY2025$158,000
Palama SettlementHI · FY2025$67,500
'iolani SchoolHI · FY2024$533,000
YMCAHI · FY2024$375,000
Palama SettlementHI · FY2024$45,000
Goodwill Industries of Hawaii INCHI · FY2024$15,000
Palolo Chinese HomeHI · FY2024$6,500
'iolani SchoolHI · FY2023$420,000
YMCAHI · FY2023$84,750
Palama SettlementHI · FY2023$40,000
Goodwill Industries of Hawaii INCHI · FY2023$25,000
YMCAHI · FY2022$43,000
'iolani SchoolHI · FY2022$31,000
YMCAHI · FY2021$60,000
'iolani SchoolHI · FY2021$53,045
YMCAHI · FY2020$50,000
'iolani SchoolHI · FY2020$50,000
See all 19 grants →

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$797K
Ln 12
Investment incomeLn 3$753K
Other incomeLn 4–11$44K
Money outPt IX
$1.1M
Ln 25
Programscol B$990K
Managementcol C$92K
Owns and owesPt X
$15.7M
net assets · Ln 32
Cash and savingsLn 1–2$316K
Total assetsLn 16$15.7M
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$753K
Other incomeLn 4–11$44K
Gains on assetsLn 7$207K
Total revenueLn 12$797K
Assets in detailPt X, end of year
CashLn 1$15K
SavingsLn 2$302K
Cash and savings togetherLn 1–2$316K
InvestmentsLn 11–13$15.3M
Land, buildings, equipmentLn 10c$80K
Total assetsLn 16$15.7M
LiabilitiesLn 26$0
Net assetsLn 32$15.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
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$511K$316K
InvestmentsLn 11–13$14.5M$15.3M
Land, buildings, equipmentLn 10c$80K$80K
Total assetsLn 16$15.0M$15.7M
LiabilitiesLn 26$0$0
Net assetsLn 32$15.0M$15.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$980K$980K
Grants and assistance to foreign recipientsLn 3$10K$10K
Legal feesLn 11b$437$437
Accounting feesLn 11c$7K$7K
Investment management feesLn 11f$76K$76K
Other expenses (24a–d)Ln 24$9K$9K
Total functional expensesLn 25$1.1M$990K$92K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $854K$1.0M−$158K$17.4M 990 PDF
FY2024 Viewing $797K$1.1M−$286K$15.7M 990 PDF
FY2023 $5.8M$946K$4.8M$15.0M 990 PDF
FY2022 $97K$317K−$220K$9.1M 990 PDF
FY2021 $440K$150K$291K$4.2M 990 PDF
FY2020 $161K$133K$29K$3.8M 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 $797,026 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $5,546,381$752,788
I-11 Other revenuePrior year $227,824$44,238
I-12 Total revenuePrior year $5,774,205$797,026
I-13 Grants and similar amounts paidPrior year $576,750$990,500
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $369,175$92,280
I-18 Total expensesPrior year $945,925$1,082,780
I-19 Revenue less expensesPrior year $4,828,280−$285,754
Part VI · Governance 2 of 4 board members independent, 5 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members2
VI-2 Family or business relationship among officers or directorsYes
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
Part VIII · Statement of revenue $797,026 across 4 lines filed
VIII-3 Investment incomeExcluded from tax $545,557$545,557
VIII-7 Net gain or loss on sales of assetsExcluded from tax $207,231$207,231
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $44,238$44,238
VIII-12 Total revenueRelated to mission $0 · Unrelated business $44,238 · Excluded from tax $752,788$797,026
Part IX · Statement of functional expenses $1,082,780 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $980,500$980,500
IX-3 Grants and assistance to foreign recipientsPrograms $10,000$10,000
IX-11b Legal feesManagement $437$437
IX-11c Accounting feesManagement $6,936$6,936
IX-11f Investment management feesManagement $76,071$76,071
IX-24 Other expenses (24a–d)Management $8,836$8,836
IX-25 Total functional expensesPrograms $990,500 · Management $92,280 · Fundraising $0$1,082,780
Part X · Balance sheet $15,740,860 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $79,682$14,663
X-2 Savings and temporary cash investmentsStart of year $431,432$301,833
X-10c Land, buildings and equipment, netStart of year $79,500$79,500
X-11 Publicly traded securitiesStart of year $14,455,472$15,344,864
X-16 Total assetsStart of year $15,046,086$15,740,860
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $15,046,086$15,740,860
X-33 Total liabilities and net assetsStart of year $15,046,086$15,740,860
Part XI · Reconciliation of net assets $15,740,860 net assets at year end
XI-1 Total revenue$797,026
XI-2 Total expenses$1,082,780
XI-3 Revenue less expenses−$285,754
XI-4 Net assets at start of year$15,046,086
XI-5 Net unrealized gains (losses) on investments$980,528
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$15,740,860

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

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