Housing and Land Enterprise of Maui

Nonprofit profile at a glance

EIN
205325361
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Wailuku, HI, USA
Phone
8082446110
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$132,682
Expenses
$324,787
Assets
$14,805,012
Liabilities
$31,734

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • DAWN DEREGO (PRESIDENT)
  • MICHAEL TROTTO (VICE PRESIDENT)
  • CASSANDRA ADBUL (EXECUTIVE DIRECTOR (THRU 8/24))
  • CARRIE DEMOTT (EXECUTIVE DIRECTOR (EFF 8/24))

Highest reported compensation

  • CASSANDRA ADBUL (EXECUTIVE DIRECTOR (THRU 8/24)): $102,042 total reported compensation
  • CARRIE DEMOTT (EXECUTIVE DIRECTOR (EFF 8/24)): $50,396 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To secure and preserve a permanent supply of affordable housing alternatives for low and moderate income households in maui county.

What it reported doing in 2024

The goal of the organization is to increase the supply of permanently affordable homeownership opportunities for low- and moderate-income households in maui county by retaining land ownership and ensuring long-term affordability through a renewable ground lease. During the 2024 tax year, nhom completed rehabilitation activities and sold two homes to income-qualified households, while continuing property stewardship, homebuyer education, and pre development planning for future construction.

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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 92
  • Accountability: 89
  • Sustainability: 36
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.9%; rating input score 80
  • Program expense ratio: 74.6%; rating input score 75
  • Fundraising efficiency: $8.05 raised per $1 spent on fundraising; rating input score 33; 33rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 90%; rating input score 90; 24th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -144.8%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 45.58; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 54; 54th percentile among comparable filings
  • Officer compensation ratio: 46.9%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 2.2% per year; rating input score 100; 40th percentile among comparable filings
  • Revenue growth: 6.6% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 8.3% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 79.9% of revenue deployed · 74.6% of spending went to programs
  • Governance: 9 of 10 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $242K in reported program spending
  • Leadership: top reported pay $102K · 13 people listed
  • Consistency: 32 of 32 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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: Fundraising efficiency scored 33/100.
  • High — Sustainability: Operating margin scored 1/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • Review — Sustainability: Liabilities to assets ratio scored 54/100.