2024-05-07T15:49:46-05:00 2023-06-30 261659234 CW ASSOCIATES CPAS 700 BISHOP STREET SUITE 1040 HONOLULU HI 96813 990 2022-07-01 990226377 MAUI ECONOMIC DEVELOPMENT BOARD INC MAUI 8088752300 1305 N HOLOPONO STREET STE 1 KIHEI HI 96753 LESLIE WILKINS PRESIDENT & CEO 8088752300 2024-05-07 1 LESLIE WILKINS 999009999 0 RODNEY M HARANO P00389596 8085311040 2024-05-07 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z LESLIE WILKINS 1305 N HOLOPONO STREET STE 1 KIHEI HI 96753 7542050 0 X WWW.MEDB.ORG X 1982 HI TO PROVIDE LEADERSHIP AND VISION IN OUR COMMUNITY FOR THE RESPONSIBLE DESIGN AND DEVELOPMENT OF A STRONG SUSTAINABLE, AND DIVERSIFIED ECONOMY FOR MAUI COUNTY. 23 22 26 26 92154 17431 3938279 5402082 526004 1195252 19544 10477 -40135 143281 4443692 6751092 0 12000 0 0 1643429 1768213 0 0 15605 2810628 3888379 4454057 5668592 -10365 1082500 11013718 12120139 6783433 6805576 4230285 5314563 MEDB LEADS AND INSPIRES INNOVATION IN BUSINESS, EDUCATION, AND OUR COMMUNITY. 0 0 2072792 EDUCATION AND WORKFORCE DEVELOPMENT: MEDB'S EDUCATION TO WORKFORCE PIPELINE PROGRAMS SPAN KINDERGARTEN TO CAREERS. OUR ORIGINAL AND SIGNATURE PROGRAMS UNDER STEMWORKS SEEK TO STRENGTHEN THE PIPELINE BY ENGAGING GIRLS/WOMEN AND TRADITIONALLY UNDERREPRESENTED GROUPS IN SCIENCE, TECHNOLOGY, ENGINEERING AND MATH (STEM) CAREER PATHWAYS. STEMWORKS INNOVATIVE METHODOLOGY IS GROUNDED IN PLACE-BASED, SERVICE AND APPLIED LEARNING. THE PROGRAM INCLUDES TECHNICAL TRAINING, ENGINEERING-DESIGN PROCESS, REAL-WORLD CHALLENGES, MENTORING, CAREER-AWARENESS ACTIVITIES, AND INTERNSHIPS FOR STUDENTS. EDUCATORS HAVE ACCESS TO STATE OF THE ART TECHNOLOGY TOOLS AND PROFESSIONAL DEVELOPMENT. MEDB PROGRAMS SERVE OVER 35,000 STUDENTS, EDUCATORS, AND BUSINESSES STATEWIDE. 3392511 1213420 BUSINESS DEVELOPMENT/OUTREACH/TECHNICAL ASSISTANCE: THE ORGANIZATION TARGETS AND ASSISTS EXISTING AND EMERGING BUSINESSES IN INFORMATION TECHNOLOGY, ENGINEERING, AEROSPACE, ASTRONOMY/OPTICS, RENEWABLE ENERGY, HEALTHCARE, AGRI-TECHNOLOGY AND SMALL BUSINESSES IN RURAL AND UNDER RESOURCED COMMUNITIES. THESE SECTORS PROVIDE OPPORTUNITIES TO STRENGTHEN AND DIVERSIFY THE ECONOMY AND GENERATE ACTIVITIES THAT OFFER NEW CAREER OPTIONS FOR RESIDENTS. BUSINESS DEVELOPMENT STRATEGIES INCLUDE ONE-ON-ONE CONSULTATIONS, TECHNICAL CONFERENCES, PUBLIC AWARENESS TOOLS, AND EXHIBITIONS. 25053 12000 CIVIC ENGAGEMENT AND EDUCATION: THE ORGANIZATION WORKS TO ENGAGE DIVERSE MEMBERS OF THE COMMUNITY TO HAVE A VOICE IN DECISION-MAKING ABOUT MAUI COUNTY AND THE STATE'S ECONOMIC FUTURE. BY PROVIDING AND FACILITATING EDUCATION AND COMMUNITY-BASED PLATFORMS SUCH AS THE FOCUS GROUPS WHICH INFORMED THE COUNTY AND STATE'S COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY (CEDS), MEDB SEEKS TO PROVIDE TOOLS FOR RESIDENTS TO TAKE ACTION TO MAKE INFORMED DECISIONS ABOUT THEIR LIVES, COMMUNITY, AND THE ECONOMY. 5490356 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 180 0 26 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 23 22 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 HI X X MICHELLE COCCA 8088752300 1305 N HOLOPONO STREET STE 1 KIHEI HI 96753 TIARE MARTIN CHAIR 0.30 X X 0 0 0 CURTIS TOM VICE CHAIR 0.30 X X 0 0 0 DEANNA GARCIA SECRETARY 0.30 X X 0 0 0 ROBERT KAWAHARA TREASURER 0.30 X X 0 0 0 ROZ ROSALYN BAKER DIRECTOR 0.10 X 0 0 0 DWAYNE BETSILL DIRECTOR 0.10 X 0 0 0 GRANT CHUN DIRECTOR 0.30 X 0 0 0 RYAN CHURCHILL DIRECTOR 0.30 X 0 0 0 JERRY CORNELL DIRECTOR 0.10 X 0 0 0 NED DAVIS DIRECTOR 0.10 X 0 0 0 LISA TOMIHAMA DIRECTOR 0.30 X 0 0 0 DAVID LASSNER DIRECTOR 0.10 X 0 0 0 ERIC MATSUDA DIRECTOR 0.10 X 0 0 0 RYAN FUKUSHIMA DIRECTOR 0.10 X 0 0 0 J SCOTT MEIDELL DIRECTOR 0.10 X 0 0 0 SAEDENE OTA DIRECTOR 0.30 X 0 0 0 LISA PAULSON DIRECTOR 0.10 X 0 0 0 CAROL REIMANN DIRECTOR 0.10 X 0 0 0 ELLI PASCUA DIRECTOR 0.10 X 0 0 0 PAM TUMPAP DIRECTOR 0.30 X 0 0 0 RICK VOLNER DIRECTOR 0.10 X 0 0 0 ROSIE DAVIS DIRECTOR 0.10 X 0 0 0 LESLIE WILKINS PRESIDENT & CEO 40.00 X X 138000 0 16861 138000 0 16861 1 0 1 0 MAUI AGRICULTURE TECHNOLOGIES 291 NALANI STREET MAKAWAO HI 96768 BUSINESS TECHNICAL ASSISTANCE AND COACH 141479 BETSILL BROTHER LLC PO BOX 1451 WAILUKU HI 96793 TENANT IMPROVEMENTS 108329 TIMS COMMERCIAL CLEANING PO BOX 857 KIHEI HI 96753 JANITORIAL AND MAINTENANCE 107141 3 76100 69564 2158557 3097861 1515 5402082 CONFERENCE FEES COLLEC 900099 1195252 1195252 1195252 10477 10477 873487 730406 143081 143081 92154 50927 42584 69564 60552 -17968 -17968 MISCELLANEOUS INCOME 900099 10799 10799 PROCESSING FEE EARNED 900099 7369 7369 18168 6751092 1213420 92154 43436 X 12000 12000 124361 118330 5994 37 1306328 1282594 23587 147 74012 72472 1530 10 138187 135312 2857 18 125325 122718 2591 16 4209 4209 46947 46947 1078489 1041898 30417 6174 190334 181070 1445 7819 227684 217119 9774 791 49968 48245 1712 11 82036 81179 852 5 87882 86100 1771 11 20210 19193 1011 6 UNRELATED BUSINESS INCO 4430 4430 MEDB EVENT COSTS 1491110 1491110 TRAINING 552863 552759 104 DEFERRED INCOME TAX 22800 0 22800 0 29417 28257 600 560 5668592 5490356 162631 15605 2215759 2404650 641373 1107887 796097 971506 60004 456715 135188 144550 10982015 4187400 6903220 6794615 158743 170416 103334 69800 11013718 12120139 378101 542332 1283856 1218302 5064822 4938626 56654 106316 6783433 6805576 X 3965539 3995549 264746 1319014 4230285 5314563 11013718 12120139 1082500 1778 0 X X 0 1 X 1 1 1 X 2584504 2621927 7202823 3938279 5402082 21749615 2584504 2621927 7202823 3938279 5402082 21749615 517231 21232384 11326 2176 4473 19544 259327 296846 62654 0 0 12378 92154 167186 732093 725911 441712 6913 18168 1924797 24138444 3467293 0.87960 0.87990 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2018 AMOUNT: $ 732,093. 2019 AMOUNT: $ 725,911. 2020 AMOUNT: $ 441,712. 2021 AMOUNT: $ 6,913. 2022 AMOUNT: $ 18,168. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1125972 1125972 7175435 3120199 4055236 2235800 777566 1458234 259264 248138 11126 185544 41497 144047 6794615 TENANT SECURITY DEPOSITS 55629 REFUNDABLE ADVANCES 50687 106316 X 6489560 1778 1778 6487782 263310 263310 6751092 6459550 790958 790958 5668592 0 5668592 PART X, LINE 2: U.S. GAAP REQUIRES UNCERTAIN TAX POSITIONS TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THEY ARE MORE LIKELY THAN NOT TO FAIL UPON REGULATORY EXAMINATION. MANAGEMENT HAS EVALUATED THE TAX POSITIONS OF MEDB AS OF JUNE 30, 2023 AND 2022 AND FOR THE YEARS THEN ENDED AND DETERMINED THAT IT HAD NO UNCERTAIN TAX POSITIONS REQUIRED TO BE REPORTED IN ACCORDANCE WITH U.S. GAAP. MEDB IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS IN PROGRESS FOR ANY OPEN TAX PERIODS. PART XI, LINE 4B - OTHER ADJUSTMENTS: CHANGE IN NET ASSETS WITH DONOR RESTRICTIONS 1,054,268. DIRECT RENTAL EXPENSES -730,406. DIRECT FUNDRAISING EXPENSES -60,552. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT RENTAL EXPENSES 730,406. DIRECT FUNDRAISING EXPENSES 60,552. KE ALAHELE EDUCATION FUND 19125 19125 1740 KA IPU KUKUI LEGACY GALA 93023 50439 42584 3530 24717 30565 112148 69564 42584 3530 24717 32305 60552 -17968 X X X 0 0 0 0 0 0 0 0 0 LESLIE WILKINS PRESIDENT & CEO 138000 0 0 0 0 0 8280 0 8581 0 154861 0 0 0 BETSILL BROTHER LLC CONTROLLED ENTITY 108329 MEDB HAD UNOCCUPIED SPACE IN THE KEALAHELE CENTER AT THE BEGINNING OF FY22. WHEN A POTENTIAL TENANT INDICATED INTEREST IN MORE THAN 5,000 SQUARE FEET, BUT WITH THE STIPULATION REQUIRING SIGNIFICANT TENANT IMPROVEMENTS TO SUITE 3 IN AN ACCELERATED TIMELINE, MEDB DISCOVERED THE TIGHT LABOR MARKET FOR CONTRACTORS. MEDB STAFF REACHED OUT TO THE BOARD FOR ADVICE OR ASSISTANCE IN SECURING A VIABLE SOLUTION TO AVOID LOSING THE TENANT PROSPECT. BOARD MEMBER DWAYNE BETSILL OFFERED THE SERVICES OF HIS CONSTRUCTION COMPANY, BETSILL BROTHER LLC, AT WELL BELOW THE MARKET RATE AND CONFIRMED TIMELY SCHEDULING AND COMPLETION. BECAUSE OF TIGHT MARKET CONDITIONS AND LACK OF AVAILABLE CONTRACTORS, TIMING CONSTRAINTS, AND COST CONCERNS TO MEET THE POTENTIAL TENANTS NEEDS, BETSILL BROTHER LLC WAS RETAINED AS THE CONTRACTOR FOR THE REQUIRED WORK TO SECURE THE TENANCY WITH A LONG-TERM LEASE FOR SUITE 3. 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION'S DUES PAYING MEMBERS HAVE VOTING RIGHTS AND ELECTS THE ORGANIZATON'S BOARD OF DIRECTORS, CHAIRMAN OF THE BOARD AND VICE-CHAIRMAN OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION'S DUES PAYING MEMBERS HAVE VOTING RIGHTS AND ELECTS THE ORGANIZATON'S BOARD OF DIRECTORS, CHAIRMAN OF THE BOARD AND VICE-CHAIRMAN OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS AND REVIEWED BY THE ORGANIZATION'S MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUESTS ALL DIRECTORS TO DISCLOSE CONFLICTS OF INTEREST ANNUALLY AND THROUGHOUT THE YEAR. DIRECTORS SIGN A DISCLOSURE FORM ON AN ANNUAL BASIS. CONFLICTS ARE INITIALLY DISCUSSED BY THE EXECUTIVE COMMITTEE AND SUBSEQUENTLY BY THE FULL BOARD OF DIRECTORS OR DIRECTLY BY THE FULL BOARD OF DIRECTORS. DEPENDING ON THE CIRCUMSTANCES OF THE CONFLICT, PERSONS WITH SUCH CONFLICTS MAY BE ASKED TO REMEDY THE SITUATION. OTHER RESTRICTIONS MAY RANGE FROM RECUSAL FROM VOTING TO RESIGNING FROM THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE PRESIDENT AND CEO (LESLIE WILKINS) IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD (WITH THE EXCEPTION OF THE PRESIDENT AND VICE PRESIDENT) BASED ON PERFORMANCE APPRAISALS AND COMPARABILITY DATA FROM THE HAWAII EMPLOYERS COUNCIL AND OTHER NONPROFITS OF LIKE SIZE, STAFF AND ACTIVITIES. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 1,041,898. MANAGEMENT AND GENERAL EXPENSES 30,417. FUNDRAISING EXPENSES 6,174. TOTAL EXPENSES 1,078,489. FORM 990, PART XII, LINE 2C THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR