St Francis Development Corporation

Nonprofit profile at a glance

EIN
203154399
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Honolulu, HI, USA
Phone
8085478066
Rating
37
Verdict
REVIEW
Rating confidence
Moderate
Affiliation
Christianity

Official website

Reported finances

Revenue
$106,319
Expenses
$14,773
Assets
$71,823
Liabilities
$1,816,449

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

Leadership & pay

7 people listed

Executive titles in this filing

  • KATHLEEN MORIMOTO (PRESIDENT, CEO, DIRECTOR)
  • LAURIE RASMUSSEN (VICE PRESIDENT)

Highest reported compensation

  • KATHLEEN MORIMOTO (PRESIDENT, CEO, DIRECTOR): $320,601 total reported compensation
  • CRAIG SHANER (TREASURER): $223,288 total reported compensation
  • LAURIE RASMUSSEN (VICE PRESIDENT): $172,826 total reported compensation

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

Overview

Mission

See schedule o.

What it reported doing in 2024

St. Francis development corporation was formed for charitable and religious purposes, including, but not limited to, the establishment of living communities that provide affordable houses for sale or rent to seniors and low-income households. St. Francis development corporation was the sponsor for franciscan vista ewa, a low income senior rental housing project.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - 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: 0
  • Transparency & Controls: 60
  • Accountability: 76
  • Sustainability: 69
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 75%; rating input score 75; 20th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 86.1%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 4.86; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 25.29; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 414.6%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -22.2% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -0.6% per year; rating input score 0; 21st percentile among comparable filings
  • Asset growth: -14% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 3 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $321K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 13 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.