2013-06-13T14:27:18-05:00 2012-07-31 272365899 PKF PACIFIC HAWAII LLP 1132 BISHOP STREET SUITE 2500 HONOLULU HI 96813 990 2011-08-01 990073514 MID-PACIFIC INSTITUTE MID- 8089735000 2445 KAALA STREET HONOLULU HI 96822 PATRICK GARVEY 8089735000 2013-06-13 1 DENEEN NAKASHIMA P00130623 8085360066 2011 2016-02-25 16:41:14Z PATRICK GARVEY 2445 KAALA STREET HONOLULU HI 96822 37147069 0 X WWW.MIDPAC.EDU X 1908 HI TO PREPARE THE STUDENTS FOR HIGHER EDUCATION AND LIFE IN A CONSTANTLY CHANGING WORLD. 23 23 478 1250 -20226 -20226 1293535 1829445 28373041 29699480 -205220 -11792 512976 702112 29974332 32219245 3783437 4297257 0 0 18146698 18748263 28269 29007 630619 7617714 8179319 29576118 31253846 398214 965399 73353729 75110291 29642296 30731564 43711433 44378727 X MID-PACIFIC INSTITUTE, A PRESCHOOL THROUGH HIGH SCHOOL, COLLEGE-PREPARATORY COMMUNITY FOUNDED ON CHRISTIAN VALUES, NURTURES AND CHALLENGES STUDENTS TO DEVELOP INTELLECTUAL, EMOTIONAL, ARTISTIC, SPIRITUAL AND PHYSICAL STRENGTHS TO BECOME COMPASSIONATE AND RESPONSIBLE LIFELONG LEARNERS AND GLOBAL CITIZENS. 0 0 24785510 2909277 29699480 PROGRAM SERVICEMID-PACIFIC, ONE OF HAWAII'S MOST DYNAMIC AND FORWARD-THINKING EDUCATIONAL INSTITUTIONS, CONTINUES TO SET THE BAR AS A RIGOROUS, COEDUCATIONAL, COLLEGE PREPARATORY DAY SCHOOL FOR PRESCHOOL, KINDERGARTEN AND GRADES 1-12. CONSISTENTLY, MID-PACIFIC IS RECOGNIZED AS AN INNOVATOR OF EDUCATIONAL, TECHNOLOGICAL AND ARTISTIC PROGRAMS THAT DEVELOP ENLIGHTENED LEARNERS AND LEADERS. IT, TOO, IS COMMITTED TO PROVIDING A LEARNING ENVIRONMENT WHERE STUDENTS REACH THEIR FULL POTENTIAL ACADEMICALLY, ARTISTICALLY, SOCIALLY, PHYSICALLY AND SPIRITUALLY. MID-PACIFIC IS HOME TO 1,500 STUDENTS FROM MORE THAN 15 COUNTRIES, AND THIS INTERNATIONALISM PROMOTES AN UNDERSTANDING AND RESPECT FOR DIVERSITY THAT IS ESSENTIAL IN THE GLOBAL COMMUNITY. MID-PACIFIC INSTITUTE WAS THE FIRST SCHOOL IN HAWAII TO OFFER AN ACCREDITED, PRE-PROFESSIONAL ARTS TRAINING PROGRAM AS A COMPLEMENT TO ITS COLLEGE-PREPARATORY CURRICULUM, AS WELL AS THE FIRST SCHOOL IN THE STATE TO OFFER THE INTERNATIONAL BACCALAUREATE DIPLOMA PROGRAM. 24785510 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 1 97 0 1 478 1 1 1 0 0 0 1 1 1 1 0 0 0 1 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X MID-PACIFIC INSTITUTE 8089735000 2445 KAALA STREET HONOLULU HI 96822 JAMES KOMETANI 0.00 X 0 0 0 KENNETH KUPCHACK ESQUIRE 0.00 X 0 0 0 GAYLORD WILCOX 0.00 X 0 0 0 DICKSON LEE ESQUIRE 0.00 X 0 0 0 NORMAN CHONG 0.00 X 0 0 0 DENIS ISONO 0.00 X 0 0 0 MOHSEN AGSEN 0.00 X 0 0 0 FRANK ATHERTON 0.00 X 0 0 0 JAMES BELL 0.00 X 0 0 0 REVEREND DR CHARLES BUCK 0.00 X 0 0 0 GEORGE BUCK 0.00 X 0 0 0 MELVYN CHOY 0.00 X 0 0 0 ROBERT CROWELL 0.00 X 0 0 0 HOLLY GORENCE 0.00 X 0 0 0 SANDRA HARTLEY 0.00 X 0 0 0 KENNETH KOBATAKE 0.00 X 0 0 0 KEITH OGATA 0.00 X 0 0 0 DIANE ONO ESQUIRE 0.00 X 0 0 0 WALTER OZAWA 0.00 X 0 0 0 SUSANNE MILLARD 0.00 X 0 0 0 STEVEN TERUYA 0.00 X 0 0 0 MICHAEL WOOD 0.00 X 0 0 0 ALBERT YAMADA 0.00 X 0 0 0 JOE RICE 40.00 X 265170 0 39662 PATRICK GARVEY 40.00 X 185975 0 28660 KRISTY TONG 40.00 X 144722 0 19409 EDNA HUSSEY 40.00 X 145799 0 26968 DR DWAYNE PRIESTER 40.00 X 130141 0 11310 GRACE CRUZ 40.00 X 128454 0 18564 GARETH RUSSELL 40.00 X 107072 0 15559 SCOTT SIEGFRIED 40.00 X 103082 0 18895 1210415 0 179027 22 0 1 0 SODEXO INC & AFFILIATES 2445 KAALA STREET HONOLULU HI 96822 FOOD SERVICE 554764 BIVEN'S ELECTRIC INC DBA WEST COAST CONSTRUCTION - PO PEARL CITY HI 96782 CONSTRUCTION/ELECTRICIAN SERVICES 253593 SPORTS MEDICINE HAWAII LTD 800 S BERETANIA STREET STE 100 HONOLULU HI 96813 ATHLETIC TRAINING SERVICES 190000 TRANE US INC PO BOX 98167 CHICAGO IL 60693 ICE PLANT - AIR CONDITIONING SYSTEM MAIN 135679 KELLY SERVICES INC PO BOX 31001-0422 PASADENA CA 911100422 SUBSTITUTE TEACHERS 124570 7 12160 60977 1756308 56657 1829445 TUITION & FEES 611710 27466950 27466950 AUXILIARY & STUDENT FE 611710 1856950 1856950 RENTAL 531190 200223 -20226 220449 SUNDRY 900099 175357 175357 29699480 230140 230140 3999910 4241842 -241932 -241932 -241932 844986 60977 601040 243946 243946 120518 84942 35576 35576 MISCELLANEOUS 611110 422590 422590 422590 32219245 27642307 -20226 2767719 4297257 4297257 1183028 514829 411340 256859 13611655 10950956 2498924 161775 979026 783356 178748 16922 1863841 1491301 340322 32218 1110713 888724 202791 19198 66248 2382 63866 104268 104268 29007 29007 43497 43497 112497 51722 60775 104395 104395 1061797 593188 384385 84224 360045 340666 15874 3505 3585 3585 1335442 1284174 51268 121915 107502 14413 99993 76809 22784 400 673296 13101 660195 2101541 2036056 65485 178867 130350 46373 2144 OUTSIDE SERVICES 576873 335375 235894 5604 MEALS & ENTERTAINMENT 195178 110687 72645 11846 PROGRAM/BUSINESS FEES 157048 152483 4565 NON-CAPITALIZED EQUIPME 110634 84015 26250 369 772200 432597 333055 6548 31253846 24785510 5837717 630619 4047647 4052824 8986759 6920200 99387 576148 91905 69346 69084 64879 1699257 1608351 76452845 27786179 44973624 48666666 13386066 13151877 73353729 75110291 2341330 1938443 11207200 12694685 13856017 13541019 654773 702835 1582976 1854582 29642296 30731564 X 37717150 38137336 647803 738497 5346480 5502894 43711433 44378727 73353729 75110291 X 965399 -298105 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11048655 420395 -240166 141854 11087030 10331484 481029 425752 189610 11048655 9333177 238129 901334 141156 10331484 0.46270 0.49540 0.04190 0 0 8973957 8973957 56507244 18955867 37551377 9326117 7589376 1736741 1645527 1240936 404591 48666666 CASH AND MONEY MARKET 6005057 F COMMON STOCKS 3355101 F MUTUAL FUNDS 2478164 F FIXED INCOME SECURITIES 1313555 F 13151877 DEPOSITS HELD FOR OTHERS 463697 CAPITAL LEASE OBLIGATION 1390885 1854582 32219245 31253846 965399 -265772 -32333 -298105 667294 29065811 -265772 -265772 29331583 2887662 2887662 32219245 28398517 84943 84943 28313574 2940272 2940272 31253846 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: A PORTION OF THE ENDOWMENT FUNDS ARE FOR STUDENT SCHOLARSHIPS AND AWARDS. A PORTION IS AT THE DISCRETION OF ADMINISTRATION AND/OR THE BOARD FOR GENERAL OPERATIONS OR OTHER PURPOSES. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: FIN 48 EXPLANATION IN EVALUATING A TAX POSITION FOR RECOGNITION, THE SCHOOL JUDGEMENTALLY EVALUATES WHETHER IT IS MORE-LIKELY-THAN-NOT THAT A TAX POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTION OF RELATED APPEALS OR LITIGATION PROCESSES, BASED ON THE TECHNICAL MERITS OF THE POSITION. IF THE TAX POSITION MEETS THE MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD, THE TAX POSITION IS MEASURED AND RECOGNIZED IN THE SCHOOL'S FINANCIAL STATEMENTS AS THE LARGEST AMOUNT OF TAX BENEFIT THAT, IN MANAGEMENT'S JUDGEMENT, IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE SCHOOL'S EVALUATION OF TAX POSITIONS WAS PERFORMED FOR THE YEARS ENDED 2009 THROUGH 2012 FOR THE U.S. FEDERAL JURISDICTION, THE TAX YEARS WHICH REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AS OF JULY 21, 2012. THE SCHOOL DID NOT RECOGNIZE ANY SIGNIFICANT TAX LIABILITIES FOR INCOME TAX ASSOCIATED WITH UNRECOGNIZED TAX BENEFITS AS OF JULY 31, 2012 AND 2011. PART XI, LINE 8 - OTHER ADJUSTMENTS: INTEREST EXPENSE ANNUITY INCLUDED ON 990, BUT NOT ON FINANCIAL STATEMENTS -32,332. MISCELLANEOUS ROUNDING -1. TOTAL TO SCHEDULE D, PART XI, LINE 8: -32,333. PART XII, LINE 2D - OTHER INCOME INCLUDED ON FINANCIAL STATEMENTS BUT NOT ON FORM 990: NET UNREALIZED LOSS ON INVESTMENTS (-265,772) PART XII, LINE 4D- OTHER INCOME INCLUDED ON FORM 990 BUT NOT ON FINANCIAL STATEMENTS: INTEREST EXPENSE ANNUITY 32,332 FINANCIAL AID GRANTS AND AWARDS 2,909,277 COGS (84,942) BANK FEES INCL IN SCHOOL ENDOW GAIN/LOSS - OTHER INCOME 30,995 TOTAL 2,887,662 PART XIII, LINE 2D- OTHER EXPENSES INCLUDED ON FINANCIAL STATEMENTS BUT NOT ON FORM 990: BOOK STORE COGS 84,942 MISCELLANEOUS ROUNDING 1 TOTAL 84,943 PART XIII, LINE 4B- OTHER EXPENSES INCLUDED ON FORM 990 BUT NOT ON FINANCIAL STATEMENTS: FINANCIAL AID & AWARDS 2,909,277 BANK FEES INCL IN SCHOOL ENDOW GAIN/LOSS 30,995 TOTAL 2,940,272 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE POLICY ON NONDISCRIMINATORY PRACTICES IS STATED IN THE OFFICIAL SCHOOL INFORMATION BROCHURE AND ALL ADVERTISEMENTS RUN FOR NEW APPLICANTS. X 0 HI PCA GIFT CARDS 409467 265 409202 385960 MOON OVER MANOA 234569 24989 209580 5048 9356 62086 1021 23128 3 261927 35723 226204 28154 86287 905963 60977 844986 5048 9356 90240 1021 495375 601040 243946 1 GRANTS 23 180000 AWARDS 409 2729277 TUITION WAIVERS 95 1363680 OTHER AWARDS (GRADUATION) 12 18700 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: GRANT MONITORING SCHEDULE I, PART I GRANTS ARE PRIMARILY TO STUDENTS FOR FINANCIAL AID. THE FINANCIAL AID IS APPLIED AGAINST THE STUDENTS' ACCOUNTS. X X 1 1 X X 0 0 0 0 0 0 0 0 0 JOE RICE 234164 0 30000 0 1006 0 26821 0 13890 0 305881 0 0 0 PATRICK GARVEY 162780 0 5000 0 18195 0 17350 0 15193 0 218518 0 0 0 KRISTY TONG 133905 0 0 0 10817 0 13476 0 7604 0 165802 0 0 0 EDNA HUSSEY 127543 0 0 0 18256 0 13150 0 15112 0 174061 0 0 0 SUPPLEMENTAL INFORMATION PART III HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE SCHEDULE J, PART I, LINE 1A THE PRESIDENT IS REQUIRED TO LIVE ON CAMPUS AS HE WOULD BE ONE OF THE FIRST TO RESPOND TO EMERGENCY SITUATIONS. ADDITIONALLY THE PRESIDENT SERVES AS THE HOST FOR SCHOOL MEETINGS AND ACTIVITIES AT THE RESIDENCE. SUPPLEMENTAL INFORMATION PART III HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES SCHEDULE J, PART I, LINE 1A THE MEMBERSHIPS AT TWO SOCIAL CLUBS ARE TO PROVIDE VENUES FOR MEETINGS AND FUNCTIONS FOR SCHOOL RELATED GROUPS. DEPT OF BUDGET & FINANCE OF THE STATE OF HAWAII 990266961 419800GG6 2006-03-22 15085847 PLEASE SEE PART V 0 0 0 15085847 964331 795372 13326144 2008 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 SCHEDULE K PART I TAX EXEMPT BOND PURPOSE THE BORROWER USED THE PROCEEDS OF THE BONDS TO REFINANCE DEBT INCURRED OR REIMBURSE FUNDS ADVANCED FOR OR TO FINANCE (I) CONSTRUCTION AND FURNISHING OF ITS NEW ELEMENTARY SCHOOL; (II) CONSTRUCTION OF ITS MATH, SCIENCE, AND TECHNOLOGY COMPLEX; (III) EXPANSION OF AN AIR CONDITIONING PLANT (IV) REPAIRS AND IMPROVEMENTS TO EXISTING BUILDINGS AND INFRASTRUCTURE IN AND SURROUNDING THE QUADRANGLE AREA OF THE SCHOOL CAMPUS. PROCEEDS OF THE BONDS WILL ALSO BE USED TO PAY THE COSTS OF ISSUING THE BONDS, INCLUDING THE PREMIUM FOR THE BOND INSURANCE POLICY. DAMON KEY LEONG KUPCHAK HASTERT A LAW CORPORATION CHAIRMAN OF THE BOARD IS A PRINCIPAL PARTNER IN THE INTEREST ENTITY 29060 LAW SERVICES 0 X 9 56657 CURRENT MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 BOARD MEMBERS ARE PROVIDED A COPY OF THE TAX RETURN FOR THEIR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C TRANSACTIONS WITH MID-PACIFIC INSTITUTE BY OFFICERS, DIRECTORS, TRUSTEES AND KEY EMPLOYEES, WHERE THERE IS A FINANCIAL INTEREST THAT MAY BE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST ARE DISCLOSED ANNUALLY AND WHEN THE TRANSACTIONS OR ARRANGEMENTS ARE PROPOSED. ALL MATERIAL FACTS OF THE TRANSACTIONS ARE GIVEN TO THE BOARD COMMITTEES DELEGATED OVERSIGHT POWERS TO CONSIDER THE PROPOSED TRANSACTION OR ARRANGEMENT. THE COMMITTEE WILL DETERMINE WHETHER THE TRANSACTION IS IN MID PACIFIC INSTITUTE'S BEST INTEREST, AND WHETHER IT IS FAIR AND REASONABLE OR WHETHER A MORE ADVANTAGEOUS ARRANGEMENT, NOT PRODUCING A CONFLICT OF INTEREST IS POSSIBLE. IF THERE IS REASONABLE CAUSE TO BELIEVE AN OFFICER, DIRECTOR, TRUSTEE OR KEY EMPLOYEE HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST THAT PERSON SHALL BE INFORMED OF THE BASIS OF SUCH BELIEF AND SHALL BE AFFORDED AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. AFTER HEARING THE RESPONSE AND AFTER FURTHER INVESTIGATION AS WARRANTED, IF THE OVER SIGHT COMMITTEE DETERMINES THERE HAS BEEN A FAILURE TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST THE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION WILL BE TAKEN. FORM 990, PART VI, SECTION B, LINE 15 AN ANALYSIS IS PREPARED BY THE CFO OF SALARIES OF COMPARABLE SCHOOLS IN HAWAII AND THE WESTERN UNITED STATES FROM INFORMATION OBTAINED FROM THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS AND GUIDE STAR FORMS 990. IF REQUIRED, ADDITIONAL SALARY INFORMATION IS OBTAINED FROM THE HAWAII ASSOCIATION OF INDEPENDENT SCHOOLS. THE ANALYSIS IS GIVEN TO THE BOARD OF TRUSTEES FOR REVIEW TO APPROVE OF ANNUAL SALARY LEVELS FOR APPROPRIATE POSITIONS. THE PRESIDENT'S SALARY IS DETERMINED BY BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 MID-PACIFIC INSTITUTE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND/OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -265,772. INTEREST EXPENSE ANNUITY INCLUDED ON 990, BUT NOT ON FINANCIAL STATEMENTS -32,332. MISCELLANEOUS ROUNDING -1. TOTAL TO FORM 990, PART XI, LINE 5: -298,105.