Overview
What is Hawaii Homeownership Center?
The Hawaii Homeownership Center is a nonprofit organization situated in Honolulu, Hawaii, specifically at 1259 Aala Street 201. Its primary mission is to empower low- to moderate-income individuals and families in the state by providing information, education, and support to facilitate successful first-time homeownership. This is accomplished through classes, homeownership coaching, and post-purchase services. The center also offers foreclosure prevention and rental counseling to help distressed owners and renters overcome housing challenges. In addition, the organization focuses on fostering financial literacy skills in the ALICE (Asset Limited, Income Constrained, Employed) population through its Financial Capabilities Pilot Program. This program includes an online money management workshop and a financial incentive for those who save and submit a budget for six consecutive months. The Hawaii Homeownership Center aims to strengthen families and communities in Hawaii by increasing homeownership rates.
Official website here: www.hihomeownership.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star Rating
The Hawaii Homeownership Center has achieved a commendable Four-Star rating from Charity Navigator, reflecting its high level of accountability and financial health. The organization scored 96%, with its rating based solely on the Accountability & Finance beacon, indicating strong performance in these critical areas.
Strengths of the organization include a fully independent board comprised of 18 members and the presence of comprehensive financial oversight mechanisms. The center has successfully demonstrated responsible financial practices, with a program expense ratio of over 70%, meaning a significant portion of its resources are allocated toward its mission.
There are no noted limitations regarding asset diversion or financial irregularities, suggesting sound management and governance practices. Overall, the Hawaii Homeownership Center appears to be a well-managed nonprofit with a strong commitment to transparency and effective use of funds.
This AI summary has been generated from information found on Charity Navigator.
Is Hawaii Homeownership Center legitimate?
Hawaii Homeownership Center is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hawaii Homeownership Center submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $87,609
Professional Fundraising Fees: $0
Other Salaries and Wages: $206,993
For more financial information, click here
Official website here: www.hihomeownership.org
What is the mission statement of Hawaii Homeownership Center?
The Hawaii Homeownership Center aims to assist in creating successful first-time homeowners by providing education, classes, and coaching. Their mission is to eliminate barriers to homeownership and increase rates, ultimately strengthening families and communities. They offer post-purchase support to address concerns as homeowners, serving low-to-moderate income individuals and families. In addition, the center offers foreclosure prevention and rental counseling to discuss housing concerns and help retain homes. The organization also focuses on developing financial literacy skills in the underprivileged population through pilot programs, offering workshops and financial incentives for saving and budgeting.
Official website here: www.hihomeownership.org
Who is the CEO of Hawaii Homeownership Center?
Reina Miyamoto is the Chair of Hawaii Homeownership Center.
Official website here: www.hihomeownership.org
What is the revenue of Hawaii Homeownership Center?
Hawaii Homeownership Center's revenue in 2022 was $754,875.
Official website here: www.hihomeownership.org
Who are the executives of Hawaii Homeownership Center and what are their salaries?
The average compensation at Hawaii Homeownership Center during 2022 was $58,920. There are 5 employees and 59 volunteers at Hawaii Homeownership Center.
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- Compensation: $80,000
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- Other: $7,608
Official website here: www.hihomeownership.org
Where can I find the form 990 for Hawaii Homeownership Center?
Hawaii Homeownership Center's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hihomeownership.org
Learn more at the official website: www.hihomeownership.org
Mission Statement of Hawaii Homeownership Center
The Hawaii Homeownership Center, a nonprofit organization, is committed to assisting low-to-moderate income individuals and families in Hawaii to become successful first-time homeowners. Their mission involves providing classes, homeownership coaching, and post-purchase support to prepare individuals for the home purchasing process and give them access to buyer resources. By addressing barriers and increasing homeownership rates, the Homeownership Center aims to foster stronger families and communities throughout the state of Hawaii.
In addition to their pre-purchase services, the Center also offers post-purchase support to address concerns that may arise as homeowners. This comprehensive approach ensures that individuals have the necessary resources and guidance to maintain their homes successfully. Furthermore, the Homeownership Center has previously provided foreclosure prevention and rental counseling services for distressed homeowners and renters, focusing on home retention and discussing housing concerns with clients.
The organization's mission is further illustrated through their Financial Capabilities Pilot Program, which aimed to instill positive financial habits in the population that is 80% or below the area median income. They offered an online money management workshop and provided a financial incentive to reward those who saved and submitted a budget for six consecutive months. This program, initially proposed to Aloha United Way, aimed to support the development of financial literacy skills in the ALICE (Asset Limited, Income Constrained, Employed) population.
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Impact
July, 2024
The Hawaii Homeownership Center's impact lies in its commitment to providing education, information, and support to help create successful first-time homeowners in Hawaii. By addressing barriers and increasing rates of homeownership, the center aims to build stronger families and communities throughout the state. The center offers classes, homeownership coaching, and post-purchase services to low to moderate-income individuals and families, empowering them to navigate the homebuying process and access necessary resources. Additionally, the center provides foreclosure prevention and rental counseling for distressed owners and renters, focusing on home retention and financial literacy skills development. Overall, the Hawaii Homeownership Center plays a vital role in supporting housing stability and empowerment in Hawaii.
This information is meant to be a general summary of Hawaii Homeownership Center. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $20,814
- Program Service Revenue: $18,268
- Gross Receipts: $1,661,424
Assets and Liabilities:
- Total Assets: $2,252,302
- Total Liabilities: $217,746
- Net Assets: $2,034,556
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEES
Revenue
$18,268
Organization Details
Founding Year
2003
Phone
(808) 523-9500Principal Officer
Reina Miyamoto
Main Address
1259 AALA STREET 201, HONOLULU, HI, 96817
Website
www.hihomeownership.orgNTEE Category
Code: L80 - Housing
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