Kekaulike Courtyards Corporation

Nonprofit profile at a glance

EIN
311688873
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Honolulu, HI, USA
Phone
8085500804
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$857,892
Expenses
$1,018,197
Assets
$2,215,375
Liabilities
$7,185,626

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

Leadership & pay

5 people listed

Executive titles in this filing

  • DEE DARBY (PRESIDENT)
  • AARIN GROSS (VICE PRESIDENT)
  • DAVID NAKAMURA (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DAVID NAKAMURA (EXECUTIVE DIRECTOR): $220,680 total reported compensation

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

Overview

Mission

The mission is to develop, own and manage multi-family rental communities serving families earning 20 to 80 percent of median income. The organization will assist its target families to become more self sufficient through the provision of affordable rental housing, support for economic development activities and supportive services aimed at assisting residents to build assets, earn income and improve the quality of family life and the economic vitality of the surrounding community.

What it reported doing in 2024

To develop, own and manage safe, quality, permanently affordable housing for a growing segment of the population which can no longer afford a home. Approximately 135 individuals benefited from services.

Operating model

Revenue model
Earned-program. 95% of the money available for current operations came from fees and other program revenue.
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 - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 60
  • Accountability: 95
  • Sustainability: 32
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.6%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -18.7%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 2.18; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 3.24; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 3% per year; rating input score 100; 31st percentile among comparable filings
  • Revenue growth: 2.6% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: -0.3% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.6% of spending went to programs
  • Governance: 4 of 4 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $994K in reported program spending
  • Leadership: top reported pay $221K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 8 filed related-organization links
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 10/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.