Overview
What is Makana Hale Cooperative?
Makana Hale Cooperative is a nonprofit organization situated in Honolulu, Hawaii. With a focus on affordability, it operates a 126-unit Limited Equity Housing Cooperative, catering to residents with low and moderate income levels. The primary mission of this cooperative is to preserve decent housing options within the reach of these income brackets, contributing positively to the local community. The cooperative employs a team of eight individuals, working diligently to uphold its purpose.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82%, Three-Star out of Four Star rating.
Makana Hale Cooperative has received a solid score of 82%, reflecting a strong focus on accountability and financial practices. The rating indicates that the organization meets high standards in financial transparency and governance, with its score derived entirely from the Accountability & Finance beacon. This suggests that potential donors can have confidence in the financial integrity of the cooperative.
The nonprofit boasts a fully independent board of directors, which is a key strength, as it enhances accountability and reduces conflicts of interest. Additionally, the organization has achieved a perfect score in several categories, including its program expense ratio, indicating that all of its expenses are directed towards its programs. This highlights the nonprofit's commitment to maximizing its impact in the community it serves.
However, while the rating itself is positive, there is no information available regarding the organization's overall impact or specific program outcomes, which could provide further insight into its effectiveness. Nevertheless, the strong financial practices indicate a well-managed organization that prioritizes its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Makana Hale Cooperative legitimate?
Makana Hale Cooperative is a legitimate nonprofit organization registered as a 501(c)(3) entity. Makana Hale Cooperative 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $178,788
For more financial information, click here
What is the mission statement of Makana Hale Cooperative?
Makana Hale Cooperative's mission is focused on preserving decent housing that is affordable for families with low to moderate incomes. They accomplish this by operating a limited equity housing cooperative, providing a home for 126 residents. The cooperative's purpose is to ensure that affordable housing remains available in the community, thus contributing to a sustainable living environment for its residents.
Who is the CEO of Makana Hale Cooperative?
Bernadette Addison is the President Fr. Eff. 3/15/23 of Makana Hale Cooperative.
What is the revenue of Makana Hale Cooperative?
Makana Hale Cooperative's revenue in 2022 was $1,266,929.
Who are the executives of Makana Hale Cooperative and what are their salaries?
The average compensation at Makana Hale Cooperative during 2022 was $22,348. There are 8 employees at Makana Hale Cooperative.
Here are 5 key members and their salaries:
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Where can I find the form 990 for Makana Hale Cooperative?
Makana Hale Cooperative's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Makana Hale Cooperative
Makana Hale Cooperative, a limited equity housing cooperative, is dedicated to preserving and providing decent housing that is affordable for very low and moderate income families in the area. Their primary mission is to operate a 126-unit cooperative, ensuring that residents in this income bracket have access to affordable housing options. By doing so, Makana Hale Cooperative aims to contribute positively to the community by providing a stable living environment for its residents.
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Impact
July, 2024
The impact of Makana Hale Cooperative is significant as it provides affordable housing solutions for very low and moderate-income residents in Honolulu, Hawaii. By operating a 126-unit limited equity housing cooperative, Makana Hale Cooperative helps preserve decent housing that is accessible to families who may otherwise struggle to afford suitable homes in the area. This initiative directly addresses the pressing issue of housing affordability, contributing to the overall well-being and stability of the community.
This information is meant to be a general summary of Makana Hale Cooperative. 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: $35,117
- Program Service Revenue: $1,170,010
- Gross Receipts: $1,266,929
Assets and Liabilities:
- Total Assets: $17,153,481
- Total Liabilities: $227,234
- Net Assets: $16,926,247
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,044,991
EXCESS RENTAL INCOME
Revenue
$125,019
Organization Details
Founding Year
1995
Phone
(808) 591-9139Principal Officer
Bernadette Addison
Main Address
1221 KAPIOLANI BLVD 810, HONOLULU, HI, 96814
NTEE Category
Code: L80 - Housing
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