The Henry Kapono Foundation

What it reported doing in 2024

The HKF PROGRAM categories include: social needs, education, music development, and business. Dedicated to empowering individuals as a whole, we aim to uplift both musical abilities and overall well-being through growth opportunities, skill development, and community engagement, fostering confidence and resilience for fulfilling lives.MELE - Sponsorships, Work, Grants, MentoringKOKUA - Assistance, Relief, & Social ServicesKUKUI - Music & Business Industry ResourcesIMUA - Music Education Scholarships, & Grants______________________________2023 OVERVIEW2023 marked HKFs 5th year! The HKF has achieved significant milestones, demonstrating resilience and making a meaningful impact during one of the most challenging times of our generation. Since inception, HKF has provided over $350,000 in financial aid & assistance to over 400 Musicians and their families, creating meaningful work opportunities for nearly 1000 musicians and industry workers. In 2023 specifically, the HKF continued its dedication to advancing the music industry through expanded resources and programs, forging new Partnerships and launching new Grants & Scholarships. However, due to the August 8, 2023 wildfires in Maui, there was a shift in focus to the Music Community on that island, with 2 major fundraisers and launch of the We Are Friends Maui (WAFM) Emergency Grocery Card Program. HKF Refined Guiding Pillars to EMPWR. The HKF further fine-tuned & defined guiding pillars, Every HKF Program and service embodies and upholds the fundamental values of Educate, Malama, Partner, Work, and Resources. These pillars provide the basis for the HKF Acts of Aloha (Giving), in the form of Programs, Grants, Scholarships, and Resources. HKF PROGRAMSMELE PROGRAMS Empowering Hawaiis Music Community to thrive through facilitating live event sponsorships, meaningful work & mentoring programs, and providing mele (music) grants coming in 2024. THE ON THE RISE (OTR) PROGRAM The OTR program was launched in January 2023. OTR is dedicated to elevating Hawaiis musicians early in their careers as professional entertainers. Through community partnerships and resources, the OTR program provides mentorship, meaningful work & performance opportunities. oTwelve On the Rise Artists were admitted into the inaugural year of the program. oHKF provided Artists with 75 paid events and meaningful work to showcase their talents at fair market compensation. These events included: First Hawaiian Banks First Fridays is a fully funded lunchtime music event that featured 11 On the Rise Acts & 11 HFK Event Manager/Sound Technician, on the first Friday of each month starting on March 3, 2023, with two shows in December 2023. Duke's on Thursdays Started on November 2, 2023, as a weekly concert at Dukes Waikiki, which employed and featured 9 On the Rise Acts and 9 HKF Event Managers each Thursday through the end of the year, continuing into 2024. MELE WORK PROGRAM HKF continued to Empower Hawaiis Music Community to thrive through partnering with like-minded organizations to provide work opportunities for Hawaiis legendary, established, and up & coming entertainers through live events and organizations looking for talent. The HKFs objective is to continue to support work opportunities for Hawaii's music industry and entertainers by partnering and supporting select music events that offer Hawaiis music industry gainful employment. 199 (75 specific to OTR) quality musical gigs and a catalyst in providing in excess of 260 Music Industry Professionals meaningful work due to HKF initiatives. HKF work events included: oLes Jardin ARTFEST sponsored work for 9 entertainers on May 13, 2023 including 2 OTR, 1 sound technician and 1 HKF event manager for entertainment during their annual student-family art festival. Additionally, Les Jardin Academy donated $2,500 toward HKFs general Fund. oMake Music Day partnered with the HKF to have musicians showcase their talents across Oahu on June 21, 2023, with a featured lunchtime c

Financial Efficiency

• Mission deployment rate: 75.9%; rating input score 76
• Program expense ratio: 80.9%; rating input score 81
• Fundraising efficiency: $20.89 raised per $1 spent on fundraising; rating input score 59; 59th percentile among comparable filings

Transparency & Controls

• Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: 55.5%; rating input score 56; 43rd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 85.7%; rating input score 86; 23rd percentile among comparable filings
• Governance controls: 2 of 8 controls in place; rating input score 25
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: 6.1%; rating input score 53; 53rd percentile among comparable filings
• Total-asset coverage ratio: 0.58; rating input score 27; 27th percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
• Officer compensation ratio: 12.1%; rating input score 27; 27th percentile among comparable filings

Growth

• Program expense growth: 52.3% per year; rating input score 100; 96th percentile among comparable filings
• Revenue growth: 15% per year; rating input score 100; 82nd percentile among comparable filings
• Asset growth: 32.9% per year; rating input score 100; 93rd percentile among comparable filings