Overview
What is Hawaii Community Reinvestment Corporation?
Hawaii Community Reinvestment Corporation (HCRC) is a nonprofit organization based in Honolulu, Hawaii. Its primary mission is to facilitate affordable housing, community development, and economic development throughout the state by providing innovative financing, training, and consulting services to public and private organizations engaged in building livable communities in Hawaii. HCRC has assisted in the funding of 3,508 affordable housing units, offered business loans for small enterprises, and provided energy efficiency loans. In 2022, it offered financing for pre-development of affordable housing units and critical home repairs. Additionally, HCRC grants funds for various programs, including education and preservation of affordable housing. The organization also provides free financial technical assistance and training to community-based organizations.
Official website here: www.hcrchawaii.com
Is Hawaii Community Reinvestment Corporation legitimate?
Hawaii Community Reinvestment Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hawaii Community Reinvestment Corporation 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: $183,610
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.hcrchawaii.com
What is the mission statement of Hawaii Community Reinvestment Corporation?
The Hawaii Community Reinvestment Corporation's mission is centered around facilitating affordable housing, community development, and economic development across various sectors in Hawaii. They achieve this by providing innovative financing, training, and consulting services to organizations that serve underserved and disadvantaged communities. The corporation has assisted in funding numerous affordable housing units, business loans, and energy efficiency projects, contributing significantly to the state's development. In 2022, they provided financing for pre-development of affordable housing units and critical home repairs. Additionally, they grant funds to support initiatives such as establishing an endowed professorship in affordable housing at the University of Hawaii. The corporation also offers free financial technical assistance and training to community-based organizations.
Official website here: www.hcrchawaii.com
Who is the CEO of Hawaii Community Reinvestment Corporation?
Heather Piper is the Chairman & S of Hawaii Community Reinvestment Corporation.
Official website here: www.hcrchawaii.com
What is the revenue of Hawaii Community Reinvestment Corporation?
Hawaii Community Reinvestment Corporation's revenue in 2022 was $403,580.
Official website here: www.hcrchawaii.com
Who are the executives of Hawaii Community Reinvestment Corporation and what are their salaries?
The average compensation at Hawaii Community Reinvestment Corporation during 2022 was $183,610. There is 1 employee at Hawaii Community Reinvestment Corporation.
Here are 7 key members and their salaries:
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- Compensation: $155,548
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- Other: $28,063
Official website here: www.hcrchawaii.com
Where can I find the form 990 for Hawaii Community Reinvestment Corporation?
Hawaii Community Reinvestment Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hcrchawaii.com
Learn more at the official website: www.hcrchawaii.com
Mission Statement of Hawaii Community Reinvestment Corporation
Hawaii Community Reinvestment Corporation, abbreviated as HCRC, is dedicated to facilitating affordable housing, community development, and economic development across Hawaii. This mission is accomplished by providing innovative financing, training, and consulting services to organizations that serve underserved and disadvantaged communities. HCRC has played a significant role in financing various projects, including 3,508 affordable rental housing units, providing business loans to small businesses and nonprofits, and offering energy efficiency loans. In 2022 alone, HCRC provided financing for the pre-development of 66 affordable housing units and critical home repairs for 6 affordable homes. Furthermore, HCRC has granted funds to support affordable housing preservation and administered various grants to nonprofit organizations, including the University of Hawaii Foundation and C&C Honolulu. Additionally, HCRC offers free financial technical assistance and training to community-based organizations through individual consultations, webinars, and convenings.
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Impact
October, 2024
Hawaii Community Reinvestment Corporation (HCRC) significantly enhances affordable housing and community development throughout the state. It has played a crucial role in providing funding and technical assistance that directly impacts the availability of affordable housing for residents.
Through its Affordable Housing Loan Participation Program, HCRC has facilitated over 3,500 affordable rental housing units with a total funding of $205.5 million. This initiative demonstrates a strong commitment to supporting affordable living options in Hawaii. Additionally, HCRC has supported local businesses by providing seven business loans totaling $3.6 million through the SBA 504 Loan Program and 22 direct loans amounting to over $2.2 million.
HCRC also emphasizes energy efficiency, having administered 203 loans totaling $4.8 million aimed at improving sustainable living conditions. In 2022 alone, the organization provided $500,000 for the pre-development of 66 affordable housing units and contributed $50,000 for critical repairs to six affordable homes.
The impact extends further with an endowment grant of $789,474 to the University of Hawaii Foundation to establish a distinguished professorship in affordable housing, which underscores the focus on education in this sector. HCRC has also facilitated significant passthrough grants totaling nearly $3 million for improving housing preservation and supporting community arts and culture initiatives.
By offering free financial technical assistance and training for community-based organizations through consultations, webinars, and workshops, HCRC empowers local groups to effectively serve underserved communities. Overall, HCRC's efforts contribute to building livable, sustainable communities across Hawaii, positively affecting the housing landscape and fostering economic development.
This information is meant to be a general summary of Hawaii Community Reinvestment Corporation. 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: $2,442
- Program Service Revenue: $43,804
- Gross Receipts: $403,580
Assets and Liabilities:
- Total Assets: $3,723,033
- Total Liabilities: $557,440
- Net Assets: $3,165,593
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$15,342
LOAN APP AND SERVICE FEES
Revenue
$12,750
DBEDT GRANT AWARD
Revenue
$9,075
CONSULTING
Revenue
$6,637
Organization Details
Founding Year
1990
Phone
(808) 532-3110Principal Officer
Heather Piper
Main Address
PO BOX 3409, HONOLULU, HI, 96801
Website
www.hcrchawaii.comNTEE Category
Code: L800 - Housing
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