1.1
Open Applications - Hawaii Community Foundation.
(see source).
Welcome to your daily briefing on nonprofit developments in Hawaii. Today we're covering 5 key stories including updates on hawaii nonprofit headlines, background & context. Let's dive in.
1
Hawaii Nonprofit Headlines
2 stories
1.2
Bank of Hawaii Corporation: SEC Filings Now Available for Investors.
The Investor Relations website provides essential information about Bank of Hawaii Corporation for stockholders, potential investors, and financial analysts.
Why It Matters
Access to SEC filings is crucial for finance professionals in Hawaii to make informed investment decisions.
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2
Background & Context
3 stories
2.1
Form 1023-EZ has eligibility limits that most applicants miss.
The streamlined Form 1023-EZ is available only to organizations meeting specific limits on projected revenue, assets, and activity types. Filing 1023-EZ when ineligible produces a determination that is technically valid but vulnerable to retroactive revocation if discovered. The full 1023 is harder to file but harder to challenge.
Why It Matters
Loss of exemption is retroactive to the original determination, exposing the organization to back-tax liability. The eligibility checklist is the only protection.
2.2
A conflict-of-interest policy that fails the test.
The IRS-recommended COI policy requires (1) annual disclosure by all directors and key employees, (2) a process for review of any disclosed conflict, (3) recusal procedures, and (4) documentation in board minutes. Policies that have only the disclosure form without the review and recusal process do not satisfy the recommendation.
Why It Matters
A weak COI policy is a Schedule L disclosure waiting to happen, and Schedule L disclosures correlate with future IRS examination selection.
2.3
Why every Form 990 line is public — and what most boards forget.
Form 990 is required to be made public by the filing organization on request and is indexed by ProPublica and others within weeks of filing. Sections most boards underestimate: Schedule J (top-staff compensation), Schedule L (transactions with interested persons), and Schedule O (narrative explanations that "soften" other answers). Donors and reporters read these.
Why It Matters
Items that read fine in management's narrative often read very differently in print. Pre-filing review by a non-finance board member catches optics issues that a CFO will not.
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DateMay 13, 2026
Stories5
Sections2
Read Time2 min
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