2012-11-14T17:56:57-06:00 2011-12-31 273670123 SCHLISSEL & ASSOCIATES LLC 1164 BISHOP STREET - STE 1612 HONOLULU HI 96813 990 2011-01-01 237302232 POLYNESIAN VOYAGING SOCIETY POLY 8088421101 10 SAND ISLAND PARKWAY HONOLULU HI 96819 DENNIS FERN 8088421101 2012-11-14 1 ALAN M SCHLISSEL P01451320 8087327232 2011 2016-02-24 21:20:13Z NAINOA THOMPSON 10 SAND ISLAND PARKWAY HONOLULU HI 96819 929691 0 X HTTP://PVS.KCC.HAWAII.EDU X 1973 HI THE POLYNESIAN VOYAGING SOCIETY HAS LAUNCHED (THROUGH THE RENOVATION OF OUR VOYAGING CANOE, HOKULE'A) SAIL PLANS FOR HAWAI'I-WIDE EDUCATIONAL PROGRAMS/VOYAGES AND A SAIL PLAN FOR A WORLDWIDE VOYAGE. THE PURPOSE OF THE WORLDWIDE VOYAGE IS TO BECOME A CATALYST FOR POSITIVE CHANGE IN HAWAI'I BY CONSTANTLY LEARNING FROM AND NUTURING RELATIONSHIPS WORLDWIDE THAT SHARE THE VALUES AND RESPONSIBILITY OF CARING FOR ISLAND EARTH, HER OCEANS AND CHILDREN, WHILE HONORING OUR HERITAGE AND PERPETUATING OUR CULTURE. 19 16 7 1159 0 0 287522 184944 450482 540845 -111713 -23127 42047 117654 668338 820316 0 0 0 0 215876 348760 0 0 0 396532 432370 612408 781130 55930 39186 673970 591228 185004 98788 488966 492440 X FUNDED ON A LEGACY OF PACIFIC OCEAN EXPLORATION, THE POLYNESIAN VOYAGING SOCIETY SEEKS TO PERPETUATE THE ART AND SCIENCE OF TRADITIONAL POLYNESIAN VOYAGING AND THE SPIRIT OF EXPLORATION THROUGH EXPERIENTIAL EDUCATIONAL PROGRAMS THAT INSPIRE STUDENTS AND THEIR COMMUNITIES TO RESPECT AND CARE FOR THEMSELVES, EACH OTHER, AND THEIR NATURAL AND CULTURAL ENVIRONMENTS. 0 0 526250 0 552933 REPAIRED AND MAINTAINED NATIVE SAILING VESSELS AND PROVIDED EDUCATION PROGRAMS ON ANCIENT HAWAIIAN SEA VOYAGING. SERVED 5,557 PERSONS. 526250 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 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 14 0 1 7 1 0 0 0 0 0 0 0 0 0 0 X 19 16 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 HI X THE ORGANIZATION 8088421101 10 SAND ISLAND PARKWAY HONOLULU HI 96819 CHARLES NAINOA THOMPSON 40.00 X X 85000 0 0 BRUCE BLANKENFELD 27.50 X X 45760 0 0 WILLIAM TAM 0.50 X 0 0 0 WILLIAM ORNELLAS 0.50 X 0 0 0 ROBERT WITT 0.50 X 0 0 0 NEIL HANNAHS 0.50 X 0 0 0 MICHAEL CUNNINGHAM 0.50 X X 0 0 0 MICHAEL CHUN 0.50 X 0 0 0 LILIKALA KAME'ELEIHIWA 0.50 X 0 0 0 LAURA THOMPSON 0.50 X 0 0 0 HARRY HO 0.50 X 0 0 0 HARDY SPOEHR 0.50 X 0 0 0 DR NATHAN WONG 0.50 X 0 0 0 DR BENJAMIN TAMURA 0.50 X 0 0 0 DENNIS FERN 0.50 X X 0 0 0 DAVID COLE 0.50 X 0 0 0 CATHERINE FULLER 0.50 X 0 0 0 BYRON MALLOTT 0.50 X 0 0 0 AUGUST YEE 0.50 X 0 0 0 HEIDI GUTH 20.00 X 27539 0 0 158299 0 0 0 0 0 0 0 36557 31465 116922 10946 184944 FEES FOR SERVICE - GOV 900099 540374 540374 PROGRAM FEES 900099 471 471 540845 457 457 70441 4500 72025 26500 -1584 -22000 -23584 -23584 7672 31465 10850 -3178 -3178 5160 0 5160 5160 CANCELLATION OF DEBT I 900099 80000 80000 IRC SEC 481(A) ADJUSTM 900099 35672 35672 115672 820316 552933 0 82439 158299 92510 65789 137608 111073 26535 16511 14690 1821 36342 17445 18897 42936 18540 24396 97473 97473 2332 1594 738 14256 6940 7316 11209 6353 4856 13524 11926 1598 610 610 56484 56484 25179 19328 5851 SUPPLIES & EQUIPMENT 119976 105876 14100 REPAIRS & MAINTENANCE 13320 9268 4052 PUBLICATION EXPENSES 7798 1495 6303 RENTAL EXPENSES 7718 6977 741 19555 4152 15403 781130 526250 254880 0 88129 140045 8453 0 29710 9266 321 545 0 1635 2417 645 643036 203944 453057 439092 63305 0 28578 0 673970 591228 44004 21822 81000 61610 60000 0 15356 185004 98788 X 457451 482629 31515 9811 488966 492440 673970 591228 X 39186 -35712 X X 0 1 1 X 1 1 X 833216 215486 163856 52522 184944 1450024 833216 215486 163856 52522 184944 1450024 186208 1263816 1342 911 1719 787 457 5216 10000 2164 80000 92164 1547404 1107184 0.81670 0.83840 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 573169 203944 369225 69867 69867 439092 ACCRUED VACATION 10082 ACCRUED GET 46 ACCRUED PAYROLL 196 ACCRUED PAYROLL TAXES 5032 15356 820316 781130 39186 -40 -35672 -35712 3474 974940 -40 179570 10766 190296 784644 35672 35672 820316 971466 179570 10766 190336 781130 0 781130 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: FOOTNOTE TO FINANCIAL STATEMENTS - INCOME TAXES EXEMPTION: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION AS DEFINED IN SECTION 509(A) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION IS ALSO EXEMPT FROM STATE INCOME TAXES UNDER SECTION 235 OF THE HAWAII REVISED STATUTES. IN 2009, THE ORGANIZATION ADOPTED ACCOUNTING RULES RELATED TO UNCERTAIN TAX POSITIONS. IN EVALUATING A TAX POSITION FOR RECOGNITION, THE ORGANIZATION 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 AS THE LARGEST AMOUNT OF TAX BENEFIT THAT, IN MANAGEMENT'S JUDGMENT, IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE ORGANIZATION FILES INFORMATION RETURNS IN THE UNITED STATES ("U.S.") FEDERAL JURISDICTION. THE ORGANIZATION'S EVALUATION OF TAX POSITIONS WAS PERFORMED FOR THE 2008 THROUGH 2011 TAX YEARS FOR THE U.S. FEDERAL JURISDICTION, THE TAX YEARS WHICH REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AS OF DECEMBER 31, 2011. THE ORGANIZATION DID NOT RECOGNIZE ANY TAX LIABILITIES FOR INCOME TAX ASSOCIATED WITH UNRECOGNIZED TAX BENEFITS AT DECEMBER 31, 2011. IT IS THE ORGANIZATION'S POLICY TO RECOGNIZE INTEREST ACCRUED RELATED TO ANY UNDERPAYMENT OF INCOME TAXES IN INTEREST EXPENSE AND PENALTIES IN OTHER EXPENSES. PART XI, LINE 8 - OTHER ADJUSTMENTS: IRC SEC 481(A) ADJUSTMENT -35,672. PART XII, LINE 4B - OTHER: IRC SEC 481(A) ADJUSTMENT -35,672. CULTURAL 37248 31465 5783 4165 0 0 6685 37248 31465 5783 4165 6685 10850 -5067 LAURA THOMPSON WORKING CAPITAL FUNDING X 61000 61610 0 1 1 CHARLES NAINOA THOMPSON OTHER RECEIVABLE - REIMBURSEMENTS X 545 545 0 1 0 62155 BRUCE BLANKENFELD OFFICER/DIRECTOR WITH A FAMILY RELATIONSHIP WITH ANOTHER OFFICER/DIRECTOR 45760 PAYMENT OF COMPENSATION TO A FAMILY MEMBER OF A CURRENT OFFICER/DIRECTOR. VICE PRESIDENT BRUCE BLAKENFELD RECEIVED COMPENSATION FOR SERVICES PERFORMED AS THE CREW TRAINING DIRECTOR LEADING HOKULE'A'S DRYDOCK AND CREW TRAINING INITIATIVE. COMPENSATION FOR THESE SERVICES WAS FUNDED BY THE ORGANIZATION'S FEDERAL ADMINISTRATION FOR NATIVE AMERICANS GRANT. 0 CHARLES NAINOA THOMPSON OFFICER/DIRECTOR WITH A FAMILY RELATIONSHIP WITH ANOTHER OFFICER/DIRECTOR 85000 PAYMENT OF COMPENSATION TO A FAMILY MEMBER OF A CURRENT OFFICER/DIRECTOR. PRESIDENT CHARLES NAINOA THOMPSON RECEIVED COMPENSATION FOR SERVICES PERFORMED AS AN EMPLOYEE OF THE ORGANIZATION. 0 FORM 990, PART VI, SECTION A, LINE 2 DIRECTOR LAURA THOMPSON AND PRESIDENT NAINOA THOMPSON ARE MOTHER AND SON. PRESIDENT NAINOA THOMPSON AND VICE PRESIDENT BRUCE BLANKENFELD ARE BROTHER-IN-LAWS. FORM 990, PART VI, SECTION B, LINE 11 PRIOR TO FILING THE FORM 990 WITH THE INTERNAL REVENUE SERVICE, A COPY OF THE DRAFT FORM 990 IS PROVIDED TO ALL BOARD MEMBERS FOR THEIR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, BOARD MEMBERS ARE REQUIRED TO READ THE ORGANIZATION'S CONFLICT OF INTEREST POLICY AND PROVIDE A SIGNED STATEMENT OF UNDERSTANDING. IF A POTENTIAL CONFLICT OF INTEREST OCCURS, IT IS REVIEWED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS ARE AVAILABLE THROUGH THE STATE OF HAWAII DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS. THE ORGANIZATION ALSO MAKES GOVERNING DOCUMENTS AND 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: -40. IRC SEC 481(A) ADJUSTMENT -35,672. TOTAL TO FORM 990, PART XI, LINE 5: -35,712. THE OVERSIGHT AND SELECTION OF THE INDEPENDENT AUDITOR IS THE RESPONSIBILITY OF THE BOARD OF DIRECTORS. WRITTEN BIDS FROM VARIOUS CPAS ARE SOLICITED AND THE SELECTION OF THE AUDITOR IS BASED ON THE AUDITOR'S EXPERIENCE IN NONPROFIT FINANCES, REPUTATION AND REASONABLENESS OF THE BID AMOUNT. THE BOARD REVIEWS THE AUDITED FINANCIAL STATEMENTS WITH THE AUDITOR BEFORE APPROVAL. THE OVERSIGHT AND SELECTION PROCESS HAVE NOT CHANGED DURING THE TAX YEAR.