Overview
What is Oahu Economic Development Board?
The Oahu Economic Development Board (OEDB) is a nonprofit organization based in Honolulu, Hawaii. Funded primarily by the private sector, it plays a vital role in promoting and encouraging economic growth, development, and diversification within Honolulu and the state of Hawaii. OEDB serves as a leading agent in attracting businesses that offer quality jobs in Hawaii, contributing to a diverse economy on O'ahu. Furthermore, the organization is actively involved in infrastructure, planning, and workforce development, aiming to establish a robust foundation for a globally competitive and prosperous economy. As the backbone of the Aloha+ Challenge, OEDB collaborates with various stakeholders to identify areas for statewide action towards Hawai'i's 2030 sustainability goals, reflecting a commitment to a more resilient and sustainable future for future generations. Hawaiian culture and values underpin this approach, providing a framework for system-level change across the island.
Official website here: www.oedb.biz
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement, Score: 73%
The Oahu Economic Development Board has received a two-star rating due to its overall performance, highlighting areas of strength and concern. While the organization excels in Accountability & Finance with a perfect score of 100%, it demonstrates weaknesses particularly in governance policies, such as lacking a whistleblower policy and document retention protocols.
The organization boasts a high program expense ratio of 78.78%, indicating a strong commitment to its mission-driven activities. Additionally, the board is well-structured, with all members being independent, and it maintains transparency regarding its liabilities to assets ratio at a low 6.35%. However, the absence of key governance policies raises questions about its operational transparency and risk management practices.
Overall, while the Oahu Economic Development Board demonstrates strong financial accountability and effective program spending, it must address its governance shortcomings to improve its rating and enhance stakeholder confidence. The compensation for key personnel is notable, with the CEO's salary reflecting industry standards, but the organization needs to bolster its policies to ensure comprehensive accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Oahu Economic Development Board legitimate?
Oahu Economic Development Board is a legitimate nonprofit organization registered as a 501(c)(3) entity. Oahu Economic Development Board 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: $92,042
Professional Fundraising Fees: $0
Other Salaries and Wages: $372,079
For more financial information, click here
Official website here: www.oedb.biz
What is the mission statement of Oahu Economic Development Board?
The Oahu Economic Development Board, a non-profit primarily funded by the private sector, is committed to fostering economic growth, development, and diversification. Acting as a leading agent, the organization works towards the growth, retention, and recruitment of businesses that offer quality jobs in Hawaii. Additionally, the board is actively involved in infrastructure, planning, and workforce development to establish a solid foundation for a globally competitive and prosperous economy. This initiative aims to enhance the economic landscape of the region, ultimately benefiting its community.
Official website here: www.oedb.biz
Who is the CEO of Oahu Economic Development Board?
Catherine Awakuni Colon is the Ex-Officio Director of Oahu Economic Development Board. The CEO's salary of Oahu Economic Development Board is $0 and their total compensation is $0.
Official website here: www.oedb.biz
What is the revenue of Oahu Economic Development Board?
Oahu Economic Development Board's revenue in 2022 was $1,127,662.
Official website here: www.oedb.biz
Who are the executives of Oahu Economic Development Board and what are their salaries?
The average compensation at Oahu Economic Development Board during 2022 was $66,303. There are 7 employees at Oahu Economic Development Board.
Here are 30 key members and their salaries (Oahu Economic Development Board's CEO's salary is $0 and their total compensation is $0):
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- Compensation: $82,986
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- Other: $9,056
Official website here: www.oedb.biz
Where can I find the form 990 for Oahu Economic Development Board?
Oahu Economic Development Board's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.oedb.biz
Learn more at the official website: www.oedb.biz
Mission Statement of Oahu Economic Development Board
The Oahu Economic Development Board, a non-profit organization primarily funded by the private sector, is committed to fostering economic growth, development, and diversification across the City and County of Honolulu and the state of Hawaii. Acting as a leading agent, the board focuses on the growth, retention, and recruitment of businesses that provide quality employment opportunities. In addition to this, the Oahu Economic Development Board is actively engaged in infrastructure, planning, and workforce development efforts. These initiatives aim to establish a solid foundation for a globally competitive and prosperous economy within the region.
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Impact
July, 2024
The Oahu Economic Development Board plays a crucial role in promoting and encouraging economic growth, development, and diversification within the City and County of Honolulu and the state of Hawaii. This organization, primarily funded by the private sector, actively supports a diversified economy on Oahu by leading efforts in the growth, retention, and recruitment of businesses that offer quality jobs in Hawaii.
Through its involvement in infrastructure, planning, and workforce development, the OEDB is instrumental in building the foundation for a globally competitive and prosperous economy. By focusing on creating opportunities for businesses and fostering economic prosperity, the Oahu Economic Development Board directly impacts the local community by driving growth and creating sustainable employment opportunities.
This information is meant to be a general summary of Oahu Economic Development Board. 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.
- Program Service Revenue: $678,215
- Gross Receipts: $1,127,662
Assets and Liabilities:
- Total Assets: $1,091,719
- Total Liabilities: $30,016
- Net Assets: $1,061,703
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NEW MARKET TAX CREDITS
Revenue
$437,799
HAWAI'I GREEN GROWTH
Revenue
$167,942
FISCAL AGENT
Revenue
$43,222
COMPREHENSIVE ECONOMIC
Revenue
$18,000
ALOHA RESPONSE
Revenue
$6,252
Organization Details
Founding Year
1984
Phone
(808) 521-3611Principal Officer
Catherine Awakuni Colon
Main Address
735 BISHOP STREET 424, HONOLULU, HI, 96813
Website
www.oedb.bizNTEE Category
Code: S31 - Community improvement
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