2017-03-04T14:01:25-06:00 2016-05-31 261659234 CW ASSOCIATES CPAS 700 BISHOP STREET SUITE 1040 HONOLULU HI 96813 990 2015-06-01 990078306 HAWAII PREPARATORY ACADEMY HAWA 8088857321 65-1692 KOHALA MOUNTAIN ROAD KAMUELA HI 967438476 ROBERT MCKENDRY HEAD OF SCHOOL 8088857321 2017-03-03 1 MARK A HAYES P00085205 8085311040 2015 2021-01-29 14:40:06Z ROBERT MCKENDRY 65-1692 KOHALA MOUNTAIN ROAD KAMUELA HI 967438476 32883123 0 X WWW.HPA.EDU X 1957 HI EDUCATION 20 20 300 323 561905 -60596 1381453 2864898 18983195 20084441 3752561 1196038 780677 572510 24897886 24717887 3836024 3996302 0 0 12146221 12925551 0 31830 690154 7089590 8797258 23071835 25750941 1826051 -1033054 132667198 130731679 6638066 7740688 126029132 122990991 TO PROVIDE EXCEPTIONAL LEARNING OPPORTUNITIES IN A DIVERSE COMMUNITY HONORING THE TRADITIONS OF HAWAII. SEE SCHEDULE O. 0 0 20101500 3996302 20199560 K-12 EDUCATIONAL PROGRAM - PROVIDES EDUCATION FOR APPROXIMATELY 640 STUDENTS FROM KINDERGARTEN TO GRADE 12 20101500 1 1 0 0 0 1 0 1 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 X 59 0 300 1 1 1 0 0 0 0 0 0 0 0 0 X 20 20 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DANIEL J PETRILL 8088857321 65-1692 KOHALA MOUNTAIN ROAD KAMUELA HI 967438476 GREGORY R MOOERS PRESIDENT & CHAIRMAN 2.00 X X 0 0 0 C SCOTT BRADLEY FIRST VICE PRESIDENT/BOARD MEMBER 2.00 X X 0 0 0 WILL J HANCOCK SECRETARY 2.00 X X 0 0 0 MICHAEL K FUJIMOTO TREASURER 2.00 X X 0 0 0 LAURIE T AINSLIE BOARD MEMBER 4.00 X 0 0 0 MICHAEL J CHUN BOARD MEMBER 2.00 X 0 0 0 PUTMAN D CLARK BOARD MEMBER 2.00 X 0 0 0 ALLISON HOLT GENDREAU BOARD MEMBER 2.00 X 0 0 0 NONA HASEGAWA BOARD MEMBER 2.00 X 0 0 0 CHARLES G KING BOARD MEMBER 2.00 X 0 0 0 DUNCAN MACNAUGHTON BOARD MEMBER 2.00 X 0 0 0 RICH MATSUDA BOARD MEMBER 2.00 X 0 0 0 PAUL NAKAYAMA BOARD MEMBER 2.00 X 0 0 0 SAM PRATT BOARD MEMBER 2.00 X 0 0 0 WILLIAM D PRATT BOARD MEMBER 2.00 X 0 0 0 MICHAEL S SPALDING BOARD MEMBER 2.00 X 0 0 0 HANNAH K SPRINGER BOARD MEMBER 2.00 X 0 0 0 PETER M VITOUSEK BOARD MEMBER 2.00 X 0 0 0 ROY A VITOUSEK III BOARD MEMBER 2.00 X 0 0 0 TAFFI WISE BOARD MEMBER 2.00 X 0 0 0 MICHAEL PETROSIAN FORMER BOARD MEMBER 2.00 X 0 0 0 ROBERT B MCKENDRY SECOND VICE PRESIDENT & HEAD OF SCHOOL 40.00 X 146954 0 32351 KATHERINE PURDY ASSISTANT SECRETARY 40.00 X 49759 0 6140 DANIEL J PETRILL ASSISTANT TREASURER 40.00 X 104974 0 19882 LINDSAY R BARNES FORMER SECOND VICE PRESIDENT & HEADMASTER 40.00 X 152069 0 25885 SHIRLEY-ANN FUKUMOTO DEAN OF AUXILIARY PROGRAMS 40.00 X 124904 0 22977 MARK NOETZEL DEAN OF CAMPUS LIFE 40.00 X 115798 0 10829 694458 0 118064 5 0 1 0 SODEXO AMERICA LLC DEPT 880328 LOS ANGELES CA 900880328 FOOD SERVICE 1521645 QUALITY BUILDERS INC PO BOX 2135 KAMUELA HI 96743 CONSTRUCTION CONTRACTOR 777487 STAR PROTECTION AGENCY LLC 3375 KOAPAKA ST STE B217 HONOLULU HI 96819 SECURITY SERVICES 353767 CENTRAL PACIFIC MANAGEMENT LLC PO BOX 944 KAMUELA HI 96743 PV SYSTEM CONTRACTOR 156249 THREE-W US INC 2121 AVENUE OF THE STARS SUITE 245 LOS ANGELES CA 90067 STUDENT RECRUITING 153196 5 191133 2673765 130728 2864898 TUITION AND FEES 611710 19363213 19363213 SPECIAL EVENTS 611710 721228 721228 20084441 1732476 1732476 7372947 100800 7849445 160740 -476498 -59940 -536438 -536438 85870 191133 105460 -19590 -19590 78840 49591 29249 29249 ISAACS ART GALLERY 900099 561905 561905 OTHER INCOME 900099 946 946 562851 24717887 20113690 561905 1177394 3996302 3996302 488810 90418 368253 30139 8382634 6789873 1159565 433196 583170 472363 80670 30137 2826278 2111133 705132 10013 644659 522169 89175 33315 92545 92545 53624 53624 31830 31830 114798 114798 309326 300505 8821 68293 68293 1020489 558365 419943 42181 1440195 1346285 82159 11751 245271 212465 11586 21220 75008 67571 7437 71252 71252 892901 848255 44646 OTHER EXPENSE 1713953 102804 1572214 38935 FOOD SERVICES 1262453 1255095 7358 STUDENT ACTIVITIES 882484 877885 4599 ART CENTER OPERATIONS 537623 532247 5376 17043 17043 25750941 20101500 4959287 690154 495688 747618 172122 122538 70297 143877 419778 362698 2386741 2276718 166392 209856 65846564 20406876 43490369 45439688 25193223 22716943 60272588 58711743 132667198 130731679 2055096 2386535 1962197 2238861 2366741 1824287 254032 1291005 6638066 7740688 X 48309215 47294157 11206525 10540713 66513392 65156121 126029132 122990991 132667198 130731679 X -1033054 -611924 -1393163 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 503590 0 0 1850735 X X X X FUNDRAISING 1 24319765 36838 -601363 1124621 22630619 23690843 354562 1376077 1101717 24319765 21887047 72595 2790787 1059586 23690843 19581957 177615 3483782 1356307 21887047 21716089 23091 -864713 1292510 19581957 0.46440 0.42420 0.11140 1 0 6312078 6312078 46948455 10844481 36103974 1027005 811161 215844 11559026 8751234 2807792 45439688 DONATED ARTWORK HELD FOR INVESTMENT 2457622 BENEFICIAL INTEREST IN PARKER RANCH FOUNDATION 35116664 BENEFICIAL INTEREST IN TRUSTS HELD BY OTHERS 20439287 DONATED REAL ESTATE HELD FOR INVESTMENT 698170 58711743 CHARITABLE GIFT ANNUITY LIABILITY 254032 OTHER ACCRUED LIABILITIES 1036973 1291005 X 17724817 -611924 14698 -6550928 -7148154 24872971 -155084 -155084 24717887 20762958 14698 155084 169782 20593176 5157765 5157765 25750941 PART III, LINE 4: THE ACADEMY MAINTAINS AN EXTENSIVE COLLECTION OF HAWAIIAN ART INCLUDING PAINTINGS AND HAND-MADE ARTIFACTS. ARTWORK IS DONATED TO THE ACADEMY AND MAINTAINED BY THE ISAACS ART GALLERY. ARTWORK IS KEPT FOR EDUCATIONAL PURPOSES, PRESERVATION OF HAWAIIAN CULTURE OR SOLD FOR FUNDRAISING PURPOSES. PART V, LINE 4: THE ACADEMY'S ENDOWMENT INCLUDES 75 INDIVIDUAL DONOR-RESTRICTED FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ACADEMY'S ENDOWMENT CONSISTS OF BOTH DONOR-RESTRICTED FUNDS AND FUNDS DESIGNATED BY THE BOARD TO FUNCTION AS ENDOWMENTS. NET ASSETS ASSOCIATED WITH THESE ENDOWMENT FUNDS, INCLUDING BOARD-DESIGNATED FUNDS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE ACADEMY HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR-RESTRICTED FUNDS THAT THE ACADEMY MUST HOLD IN PERPETUITY OR FOR A DONOR-SPECIFIED PERIOD AS WELL AS BOARD-DESIGNATED FUNDS. UNDER THIS POLICY, THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER TO ENSURE THAT THE FUTURE GROWTH OF THE ENDOWMENT ASSETS IS SUFFICIENT TO OFFSET NORMAL INFLATION PLUS REASONABLE SPENDING, THEREBY PRESERVING THE CONSTANT DOLLAR VALUE AND PURCHASING POWER OF THE ENDOWMENT FUNDS FOR FUTURE GENERATIONS. PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE 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 ACADEMY'S TAX POSITIONS AS OF MAY 31, 2016 AND 2015 AND FOR THE YEARS THEN ENDED BY REVIEWING ITS INCOME TAX RETURNS AND CONFERRING WITH ITS TAX ADVISORS, AND DETERMINED THAT THE ACADEMY HAD NO UNCERTAIN TAX POSITIONS REQUIRED TO BE REPORTED IN ACCORDANCE WITH SUCH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. THE ACADEMY IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS IN PROGRESS FOR ANY OPEN TAX PERIODS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGES IN BENEFICIAL INTERESTS IN TRUSTS HELD BY OTHERS -1,393,163. STUDENT AID (NETTED AGAINST REVENUE PER AUDIT REPORT) -4,001,490. TUITION REMISSION (NETTED AGAINST REVENUE PER AUDIT REPORT) -1,156,275. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF SALES - INVENTORY (NETTED AGAINST REVENUE PER TAX RETURN) -49,591. FUNDRAISING EXPENSES -105,460. SELLING EXPENSES - SALE OF DONATED REAL ESTATE -33. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES - INVENTORY (NETTED AGAINST REVENUE PER TAX RETURN) 49,591. FUNDRAISING EXPENSES 105,460. SELLING EXPENSES - SALE OF DONATED REAL ESTATE 33. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID AND (NETTED AGAINST REVENUE PER AUDIT REPORT) 4,001,490. TUITION REMISSION (NETTED AGAINST REVENUE PER AUDIT REPORT) 1,156,275. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 NONDISCRIMINATORY POLICY PRINTED ON ADMISSION AND FINANCIAL AID PUBLICATION AND IN NEWSPAPER ADVERTISEMENTS. X X 1 NETZEL GRIGSBY ASSOCIATES INC PO BOX 5122 CULVER CITY CA 90231 CONDUCT CAMPAIGN FEASIBILITY STUDY 0 0 31760 0 31760 HI SCHOLARSHIP AUCTION 264625 190425 74200 58000 8060 31791 GOLF TOURNAMENT 12378 708 11670 3300 3300 1009 277003 191133 85870 58000 11360 3300 32800 105460 -19590 1 STUDENT TUITION FINANCIAL AID 283 3971640 PART I, LINE 2: THE SCHOOL PROVIDES GRANTS IN THE FORM OF CREDITS AGAINST TUITION INVOICES. GRANT FUNDS ARE NOT ACTUALLY DISBURSED FROM THE SCHOOL. X X X X X 1 1 X X 0 0 0 0 0 0 0 0 0 ROBERT B MCKENDRY SECOND VICE PRESIDENT & HEAD OF SCHO 146954 0 0 0 0 0 10858 0 21493 0 179305 0 0 0 LINDSAY R BARNES FORMER SECOND VICE PRESIDENT & HEADM 152069 0 0 0 0 0 18313 0 7572 0 177954 0 0 0 PART I, LINE 1A THE HEADMASTER AND SPOUSE MAY TRAVEL BETWEEN HAWAII AND THE U.S. MAINLAND UNDER AN ACCOUNTABLE PLAN ARRANGEMENT. THE HEADMASTER RESIDES ON CAMPUS AS A CONDITION OF EMPLOYMENT. THE HEADMASTER IS A MEMBER OF A COUNTRY CLUB FOR THE PURPOSE OF RECREATION, NETWORKING, AND ENTERTAINMENT. X 14 40200 FAIR MARKET VALUE X 1 2552 FAIR MARKET VALUE X AUCTION ITEMS 9 60481 FAIR MARKET VALUE X PROGRAM ITEMS 17 24245 FAIR MARKET VALUE X FURNITURE, FIXTURES, & EQUIPMENT 1 3250 FAIR MARKET VALUE 32 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. FORM 990, PART V: QUESTIONS 7G AND 7H ARE NOT APPLICABLE TO THE EXEMPT ORGANIZATION. AS SUCH, THEY HAVE BEEN LEFT BLANK. FORM 990, PART VI, SECTION A, LINE 2 WILLIAM D. PRATT (BOARD MEMBER) AND SAM PRATT (BOARD MEMBER) HAVE A FAMILY RELATIONSHIP. PETER M. VITOUSEK (BOARD MEMBER) AND ROY A. VITOUSEK, III (BOARD MEMBER) HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 HPA'S ASSISTANT TREASURER WORKS WITH THE RETURN PREPARER TO COMPLETE THE FORM 990. THE RETURN IS PROVIDED TO THE AUDIT COMMITTEE FOR REVIEW. AUDIT COMMITTEE MEMBERSHIP INCLUDES THE PRESIDENT AND CHAIRMAN, TREASURER, SECOND VICE PRESIDENT AND ASSISTANT TREASURER. PRIOR TO FILING, THE CHAIR OF THE AUDIT COMMITTEE PROVIDES THE RETURN TO THE FULL BOARD AT A REGULARLY SCHEDULED MEETING. FORM 990, PART VI, SECTION B, LINE 12C A QUESTIONNAIRE IS SENT TO ALL BOARD MEMBERS AND OFFICERS PRIOR TO THE FILING OF FORM 990, EDUCATING THEM ABOUT THE ISSUE OF A CONFLICT OF INTEREST. THE COMMITTEE ON TRUSTEES REVIEWS INITIALLY AND ANNUALLY ALL TRANSACTIONS THAT MAY ARISE OR DO EXIST BETWEEN THE SCHOOL AND INDIVIDUALS WITH ACTUAL OR POTENTIAL CONFLICTS OF INTEREST, TRANSMITTING ITS RECOMMENDATIONS CONCERNING THE APPROPRIATENESS OF ANY SUCH TRANSACTIONS TO THE FULL BOARD OF TRUSTEES. THE BOARD OF TRUSTEES THEN DETERMINES WHETHER OR NOT TO PROCEED WITH SUCH TRANSACTION. AN OFFICER OR TRUSTEE WHO HAS POTENTIAL OR ACTUAL CONFLICT OF INTEREST, OR THE APPEARANCE THEREOF, SHALL RECUSE HIMSELF OR HERSELF FROM ANY VOTE OR ACCOMPANYING DISCUSSION. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES IS SOLELY RESPONSIBLE FOR DECISIONS REGARDING THE ENTIRE COMPENSATION PACKAGE FOR THE HEAD OF SCHOOL, WHO IS THE SCHOOL'S TOP MANAGEMENT OFFICIAL AND SECOND VICE PRESIDENT, AS WELL AS OTHER OFFICERS AND KEY EMPLOYEES. A SUBCOMMITTEE OF INDEPENDENT PERSONS IS CHARGED WITH EXECUTING THE COMPENSATION POLICY, INCLUDING COLLECTING DATA (I.E. SALARY DATA FROM COMPARABLE SCHOOLS), MAKING A COMPENSATION RECOMMENDATION, AND FOLLOWING ALL DOCUMENTATION REQUIREMENTS. DURING THE 2015-16 FISCAL YEAR, THE ORGANIZATION'S DIRECTOR OF HUMAN RESOURCES COLLECTED COMPARABLE DATA FOR THE POSITION OF HEAD OF SCHOOL, WHO IS THE SCHOOL'S TOP MANAGEMENT OFFICIAL AND SECOND VICE PRESIDENT FOR USE BY A COMPENSATION SUBCOMMITTEE. DATA SOURCES INCLUDED SURVEY INFORMATION AVAILABLE FROM THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS), AS WELL AS PUBLIC DISCLOSURE COPIES OF FORM 990 FOR COMPARABLE INDEPENDENT SCHOOLS. A SUBCOMMITTEE COMPRISED OF MEMBERS OF THE BOARD OF TRUSTEES, INCLUDING THE BOARD CHAIR, REVIEWED COMPARABILITY DATA FOR THE HEAD OF SCHOOL POSITION AND DOCUMENTED IN A PERSONNEL FILE DECISIONS MADE AT SUBCOMMITTEE MEETINGS. THE COMPENSATION PACKAGE FOR HEAD OF SCHOOL WAS APPROVED BY THE FULL BOARD OF TRUSTEES AT A REGULARLY SCHEDULED BOARD MEETING. FORM 990, PART VI, SECTION C, LINE 19 FORM 1023 - AVAILABLE UPON REQUEST FORM 990 - AVAILABLE UPON REQUEST OR VIA WWW.GUIDESTAR.ORG GOVERNING DOCUMENTS - AVAILABLE UPON REQUEST (FACT DEPENDENT) CONFLICT OF INTEREST POLICY - NOT AVAILABLE (INTERNAL USE ONLY) FINANCIAL STATEMENTS - AVAILABLE UPON REQUEST OR VIA WWW.GUIDESTAR.ORG FORM 990, PART XI, LINE 9: CHANGES IN BENEFICIAL INTERESTS IN TRUSTS HELD BY OTHERS -1,393,163. FORM 990, PART XII, LINE 2C: THE OVERSIGHT PROCESS OF THE AUDITED FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART III, LINE 1: FOUNDED IN 1949, HAWAII PREPARATORY ACADEMY IS AN INDEPENDENT COEDUCATIONAL SCHOOL PROVIDING A FULL RANGE OF OPPORTUNITIES FOR STUDENTS FROM KINDERGARTEN THROUGH GRADE 12. OUR BOARDING PROGRAM ADMITS STUDENTS IN GRADES 9 THROUGH 12. HPA FEATURES MANY UNIQUE COURSES AND ACTIVITIES (MARINE SCIENCE FIELD STUDIES, SEA TURTLE RESEARCH, SCUBA CERTIFICATION, AND MORE) THAT MAKE USE OF HAWAII'S GEOGRAPHICAL SETTING AND GIVE STUDENTS A STRONG SENSE OF HAWAII AND ITS CULTURE. OFFERINGS ALSO INCLUDE PROGRAMS IN THE VISUAL AND PERFORMING ARTS AS WELL AS A SUCCESSFUL UPPER SCHOOL INTERSCHOLASTIC ATHLETIC PROGRAM THAT STRESSES SCHOOL-WIDE PARTICIPATION AND TEACHES THE VALUES OF SPORTSMANSHIP AND FAIR PLAY. THE SCHOOL HAS TWO CAMPUSES IN THE TOWN OF WAIMEA (KAMUELA) ON THE ISLAND OF HAWAII. THE LOWER AND MIDDLE SCHOOLS ARE LOCATED ON NINE ACRES IN THE HEART OF HAWAII'S RANCHING COUNTRY, WHILE THE UPPER SCHOOL IS LOCATED JUST TWO MILES AWAY ON A 200-ACRE CAMPUS AT THE FOOT OF THE KOHALA MOUNTAINS. HPA IS FULLY ACCREDITED BY THE WESTERN ASSOCIATION OF SCHOOLS AND COLLEGES AND IS A MEMBER OF 12 EDUCATIONAL ORGANIZATIONS INCLUDING THE COUNCIL FOR THE ADVANCEMENT AND SUPPORT OF EDUCATION, COLLEGE ENTRANCE EXAMINATION BOARD, COUNCIL FOR SPIRITUAL AND ETHICAL EDUCATION, CUM LAUDE SOCIETY, NATIONAL ASSOCIATION OF COLLEGE ADMISSION COUNSELORS, HAWAII ASSOCIATION OF INDEPENDENT SCHOOLS, AND NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS. VISIT HTTP://WWW.HPA.EDU/ABOUT FOR MORE INFORMATION REGARDNG HPA'S ENROLLMENT, FACULTY, COLLEGE COUNSELING PROGRAM, SPORTS AND CO-CURRICULAR ATIVITIES, ADVANCED PLACEMENT PREPARATION, AND USE OF TECHNOLOGY IN THE LEARNING PROCESS. HAWAII PREPARATORY ACADEMY ALUMNI ASSOCIATION INC 65-1692 KOHALA MOUNTAIN ROAD KAMUELA HI 96743 990225471 SUPPORT HAWAII PREPARATORY ACADEMY HI 501(C)(3) LINE 11 N/A 0 HAWAII PREPARATORY ACADEMY PARENTS ASSOCIATION INC 65-1692 KOHALA MOUNTAIN ROAD KAMUELA HI 96743 237105675 SUPPORT HAWAII PREPARATORY ACADEMY HI 501(C)(3) LINE 11 N/A 0 PARKER RANCH FOUNDATION TRUST 66-1304 MAMALAHOA HIGHWAY KAMUELA HI 96743 996064620 SUPPORT HAWAII PREPARATORY ACADEMY AND OTHER HAWAII ORGANIZATIONS HI 501(C)(3) LINE 11 - TYPE 1 N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 PARKER RANCH FOUNDATION TRUST C 362004 CASH HAWAII PREPARATORY ACADEMY PARENTS ASSOCIATION INC C 100100 CASH