Affordable Housing and Economic Development Foundation
Public records show a registered, tax-exempt organization in good standing.
What it says it does
THE ORGANIZATION IS INCORPORATED TO SUPPORT THE PRESERVATION, REHABILITATION AND DEVELOPMENT OF, AND ACCESS TO, AFFORDABLE HOUSING, AND TO SUPPORT ECONOMIC OPPORTUNITIES FOR LOWER-INCOME FAMILIES.
- Income
- $8.9 million
- Spending
- $1,499
- Spent on programs
- 60%
- Largest source of income
- government grants, 100%
- Employees
- 0
- Volunteers
- 6
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
We do not score finances when yearly spending is very small or the return has too little detail. The ratios stop meaning much at that size.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Fair: 61 out of 100. Higher than 13% of charities in its peer group (housing, $1m to $10m).
Independent board
18 of 254 of 4 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
0 of 8Reports no written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Independent check of accounts
0 of 15Its accounts were not audited or reviewed by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $899 spent. The organization materially participated in the development of the following affordable housing projects in 2024:1. Projects previously completed and continually in operation: a. Kokua: 224-unit senior rental project in Honolulu, Oahu. b. Pua Loke: 54-unit senior-rental project in Lihue, Kauai. c. Pahala: 8-unit multifamily rental project in Pahala, Hawaii d. Queen Emma Apartments: 71-unit multifamily rental project in Honolulu, Oahu. e. Waimea Huakai: 35-unit senior rental project in Waimea, Kauai. f. Waipahu Tower: 64-unit multifamily rental project in Waipahu, Oahu. g. Rice Camp II: 30-unit senior rental project in Lihue, Kauai. h. Kai Olino: 48-unit rental project in Lihue, Kauai. i. Kapolei Parkways (Lot 6): 236 multifamily rental project in Kapolei, Oahu. j. Kapolei Parkways (Lot 7): 169 multifamily rental project in Kapolei, Oahu.2. Projects currently under construction: a. Lima Ola Family: 44-unit multifamily rental project in Eleele, Kauai. b. Lima Ola Kupuna: 40-unit senior rental project in Eleele, Kauai. c. Kuulei: 34-unit multifamily rental project in Kailua, Oahu.3. Projects in the pre-development stage seeking entitlements and financing: a. Kailua Lofts: 42-unit multifamily rental project in Kailua, Oahu. b. Pohukaina Commons: 428-unit multifamily rental project in Honolulu, Oahu. c. Keawalau (Phases I, II, & III): 531-unit multifamily and senior rental project in Waipahu, Oahu. d. Kahoapili: 188-unit multifamily rental or for-sale project in Salt Lake, Oahu.4. Other work: a. The organization worked to build further capacity as an affordable housing non-profit by submitting funding applications under the low-income housing tax credit program as administered by the State of Hawaii. b. The organization submitted funding applications for various grants administered by State and local agencies for the acquisition, rehabilitation and new construction of affordable rental housing projects. c. The organization submitted applications and solicitaton letters from various funding organizations. d. The organization coordinated tenant social service and partnership services with affiliates for projects under construction and in operation.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since October 2015.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.