Honolulu Biennial Foundation

Nonprofit profile at a glance

EIN
471652561
IRS 990 coverage
2017–2023
Forms available
Form 990 2023, Form 990-N 2014
Location
Honolulu, HI, USA
Phone
8084982853
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$779,938
Expenses
$615,525
Assets
$236,588
Liabilities
$70,011

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • PIIA AARMA (PRESIDENT)
  • MAILE MEYER (VICE PRESIDENT)
  • ROSINA POTTER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ROSINA POTTER (EXECUTIVE DIRECTOR): $106,819 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Honolulu biennial foundation dba Hawaii contemporary("hc") supports the local arts infrastructure with a global outreach by presenting an arts festival, Hawaii triennial, every three years. The multi-site public exhibition is complemented by year-round public and education programs, including professional development for artists, contribute to the local arts ecosystem, and affirm our commitment to creating an accessible gateway for contemporary art in hawai'i nei.

What it reported doing in 2023

Fy24 is year two in the three year triennial cycle. Fy24 is focused on research and development for the triennial as well as hosting art summit, a three day symposium based on the triennial theme.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 40
  • Transparency & Controls: 92
  • Accountability: 74
  • Sustainability: 47
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 39.6%; rating input score 40
  • Program expense ratio: 50.2%; rating input score 50
  • Fundraising efficiency: $4.02 raised per $1 spent on fundraising; rating input score 13; 13th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 21.1%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 0.38; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 0.3; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 17.4%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: 2.4% per year; rating input score 100; 31st percentile among comparable filings
  • Revenue growth: -0.3% per year; rating input score 0; 15th percentile among comparable filings
  • Asset growth: -11.3% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 39.6% of revenue deployed · 50.2% of spending went to programs
  • Governance: 13 of 13 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $309K in reported program spending
  • Leadership: top reported pay $107K · 14 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 6 filing years from 2017 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 40/100.
  • Review — Financial Efficiency: Program expense ratio scored 50/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 13/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.