2012-05-14T16:55:45-05:00 2011-06-30 CW ASSOCIATES CPAS 700 BISHOP STREET SUITE 1040 HONOLULU HI 96813 990 2010-07-01 990115665 THE FRIENDS OF IOLANI PALACE FRIE 8085220822 PO BOX 2259 HONOLULU HI 968042259 AL DARLING 8085220822 2012-05-14 1 MARK A HAYES 8085311040 2010 2016-02-24 21:20:13Z KIPPEN DE ALBA CHU PO BOX 2259 HONOLULU HI 968042259 2661076 0 X WWW.IOLANIPALACE.ORG X 1966 HI EDUCATION, RESEARCH, RESTORATION, REFURBISHMENT AND OPERATION FOR THE IOLANI PALACE COMPLEX. 23 23 53 306 0 0 335278 901181 1081487 1164786 9534 7167 997137 61780 2423436 2134914 0 0 0 0 1126602 965294 0 0 58662 670360 977283 1796962 1942577 626474 192337 498687 319064 404885 338032 93802 -18968 TO PRESERVE, RESTORE, INTERPRET, SHARE, AND CELEBRATE THE UNIQUE CULTURAL, HISTORICAL, AND SPIRITUAL QUALITIES OF `IOLANI PALACE AND ITS GROUNDS FOR THE BENEFIT OF NATIVE HAWAIIANS, THE PEOPLE OF HAWAI`I, AND THE WORLD. 0 0 1518654 1139025 MUSEUM OPERATIONS - OPERATED AND MAINTAINED THE IOLANI PALACE; TRAINED STAFF FOR TOURS; PLANNED PROGRAMS, EXHIBITS AND CEREMONIES. PALACE SHOPS - PRIMARILY SELLING PRODUCTS DERIVED FROM OR RELATED TO IOLANI PALACE HISTORY, ALONG WITH UNRELATED ITEMS FOR THE CONVENIENCE OF VISITORS. 1518654 1 1 0 0 0 0 1 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 21 0 53 1 0 0 0 0 0 1 1 0 0 0 0 X 23 23 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 0 0 HI X X LINDY OSHEA (ADMINISTRATIVE MANAGER) 8085220822 364 S KING STREET HONOLULU HI 96813 EDWINA PUCHI ROMIG 2.00 X X 0 0 0 DANTON WONG 2.00 X X 0 0 0 ROBERT A ALM 2.00 X X 0 0 0 JOHN C WALKER JR 2.00 X X 0 0 0 STERRY WELLS 2.00 X X 0 0 0 MICHELLE AKINA 2.00 X 0 0 0 W FRANK BRANDT 2.00 X 0 0 0 DESOTO BROWN 2.00 X 0 0 0 ROBERT I CROWELL 2.00 X 0 0 0 AL DARLING 2.00 X 0 0 0 RICI GUILD 2.00 X 0 0 0 KEN K HAYASHIDA 2.00 X 0 0 0 SYLVIA M HUSSEY 2.00 X 0 0 0 MICAH KANE 2.00 X 0 0 0 DAVID KAWANANAKOA 2.00 X 0 0 0 KATHERINE KEALOHA 2.00 X 0 0 0 RICHARD KENNEDY 2.00 X 0 0 0 HK BRUSS KEPPELER 2.00 X 0 0 0 DUCCIO MARIGNOLI 2.00 X 0 0 0 CHUCK PEARSON 2.00 X 0 0 0 KIHA PIMENTAL 2.00 X 0 0 0 PONO SHIM 2.00 X 0 0 0 LYNNE WOODDELL 2.00 X 0 0 0 QUENTIN KAWANANAKOA 2.00 X 0 0 0 CRYSTAL ROSE 2.00 X 0 0 0 KIPPEN DE ALBA CHU 40.00 X 151142 0 3527 151142 0 3527 1 0 1 0 SIMPLEX GRINNELL 99-1379 KOAHA PLACE AIEA HI 96701 SECURITY 153061 1 60115 129850 206827 504389 901181 PALACE TOURS 712110 1164786 1164786 1164786 4788 4788 3490 3490 3490 3490 37541 35162 2379 2379 2379 250327 129850 166276 84051 84051 296546 324724 -28178 -28178 MISCELLANEOUS INCOME 712110 2417 2417 2417 2134914 1139025 0 94708 145705 58282 58282 29141 819589 698432 110840 10317 26769 26769 474 474 77509 13496 64013 68651 50672 15362 2617 303735 234510 55179 14046 5214 1992 3222 46552 42968 3584 160 160 24749 20034 3536 1179 REPAIRS AND MAINTENANCE 335648 331815 3833 LEASE AND RENTAL EQUIPM 32003 28650 3353 TAXES AND FEES 28609 23160 4087 1362 MISCELLANEOUS 22911 14643 8268 DUES AND MEMBERSHIP 4299 4299 1942577 1518654 365261 58662 204062 117888 108207 50000 138149 6051 27187 41903 44622 155 182375 182375 160 0 79367 498687 319064 404885 338032 404885 338032 X -30273 -191666 124075 172698 93802 -18968 498687 319064 X 192337 -305107 X 0 1 1 X 0 X 285685 286167 817173 335278 901181 2625484 285685 286167 817173 335278 901181 2625484 773727 1851757 29904 9125 776 9534 8278 57617 84051 84051 2771 118949 18261 2417 142398 2909550 7056618 0.63640 0.91540 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER REVENUE RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 79900 79900 0 102475 102475 0 0 INVESTMENTS 79367 F 79367 2134914 1942577 192337 4239 -309346 -305107 -112770 2414780 4239 324724 328963 2085817 474 48623 49097 2134914 2266827 324724 324724 1942103 474 474 1942577 PART III, LINE 1A: THE HISTORICAL COLLECTION CONSISTS OF ORIGINAL FURNISHINGS AND OTHER ITEMS FOR THE IOLANI PALACE COMPLEX. THE COLLECTION IS CONTINUOUSLY CATALOGED, CARED FOR AND PRESERVED. THE COLLECTION ITEMS, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS, ARE NOT RECOGNIZED IN THE ACCOMPANYING FINANCIAL STATEMENTS BECAUSE THEY HAVE NO ALTERNATIVE USE. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR ACQUIRED OR AS TEMPORARILY OR PERMANENTLY RESTRICTED NET ASSETS IF PURCHASED WITH DONOR-RESTRICTED FUNDS. CONTRIBUTED COLLECTION ITEMS ARE NOT REFLECTED IN THE FINANCIAL STATEMENTS. PROCEEDS FROM THE DISPOSITION OF COLLECTION ITEMS, IF ANY, ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASSES. PART III, LINE 4: THERE ARE OVER 4,700 OBJECTS IN THE COLLECTIONS AT 'IOLANI PALACE. THEY INCLUDE FURNITURE, DECORATIVE OBJECTS, HOUSEHOLD ITEMS AND PERSONAL FURNISHINGS OF THE HAWAIIAN ROYAL FAMILY. THE COLLECTING FOCUS IS OBJECTS THAT WERE PRESENT IN THE PALACE FROM THE TIME IT WAS BUILT IN 1882 TO WHEN THE MONARCHY WAS OVERTHROWN IN 1893. PERIOD SUBSTITUTES ARE USED TO COMPLETE THE FURNISHINGS OF PERIOD ROOMS, WHEN THE ORIGINAL ARTIFACTS ARE NOT AVAILABLE. OBJECTS RECEIVED AS STATE PRESENTATION GIFTS FROM OTHER MONARCHS AND GOVERNMENTS SIGNIFY INTERNATIONAL RECOGNITION OF HAWAII'S INDEPENDENCE AND THE BONDS OF FRIENDSHIP THAT EXISTED BETWEEN HAWAII AND OTHER NATIONS AROUND THE WORLD. OTHER ITEMS ARE IMPORTANT AS ANCIENT INHERITED SYMBOLS OF CHIEFLY AUTHORITY THAT SHOWCASE THE SKILLS OF NATIVE HAWAIIAN ARTISANS. THE PALACE MAINTAINS ONE OF THE FINEST COLLECTIONS OF AMERICAN GOTHIC REVIVAL FURNITURE MANUFACTURED BY THE A.H. DAVENPORT COMPANY OF BOSTON. THE ORIGINAL ORDER TO FURNISH THE NEW PALACE IN 1882 CONSISTED OF OVER 200 PIECES. TODAY THERE ARE 77 PIECES OF A.H. DAVENPORT FURNITURE AT THE PALACE FROM THAT ORDER WHICH ARE ON LOAN FROM THE STATE OF HAWAII, BISHOP MUSEUM, OR HAVE BEEN DONATED TO IOLANI PALACE OR PURCHASED FOR THE COLLECTION. BI-CULTURAL OBJECTS CRAFTED OUT OF NATIVE HARDWOODS ACCORDING TO WESTERN DESIGNS AND CHINA TRADE ITEMS IN THE COLLECTIONS ARE NOTEWORTHY IN ILLUSTRATING THE CULTURAL DIVERSITY AND TRADE THAT EXISTED IN NINETEENTH CENTURY HAWAII. OVER 1,000 PIECES OF ORIGINAL CHINA AND GLASSWARE HAVE RETURNED TO THE PALACE. THERE ARE OVER 1,000 PIECES OF ORIGINAL PALACE STATIONARY, PHOTOGRAPHS, INVITATIONS AND MENUS. OVER 100 ORIGINAL TEXTILES ARE IN THE COLLECTION. PAINTINGS INCLUDE WORKS BY PROMINENT ARTISTS WORKING IN HAWAII IN THE LATE NINETEENTH CENTURY, SUCH AS WILLIAM COGSWELL, JULES TAVERNIER, D. HOWARD HITCHCOCK, PAUL PETROVITS, CHARLES FURNEAUX, AND ROBERT BARNFIELD. THE PALACE COLLECTIONS OF FURNITURE AND FURNISHINGS ARE USED THROUGHOUT THE BUILDING TO RECREATE PERIOD ROOM INTERIORS OF THE HAWAIIAN MONARCHY ERA. COLLECTION PIECES ARE ALSO EXHIBITED WITH INTERPRETIVE TEXT IN MODERN GALLERY SPACES IN THE PALACE BASEMENT. THE COLLECTION IS AN INVALUABLE FOR EDUCATING VISITORS FROM HAWAII AND AROUND THE WORLD. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: MANAGEMENT HAS EVALUATED THE TAX POSITIONS OF THE FRIENDS OF IOLANI PALACE AS OF JUNE 30, 2011 AND FOR THE YEAR THEN ENDED BY REVIEWING ITS INCOME TAX RETURNS AND CONFERRING WITH ITS TAX ADVISORS, AND DETERMINED THAT THE FRIENDS OF IOLANI PALACE HAD NO UNCERTAIN TAX POSITIONS REQUIRED TO BE REPORTED IN ACCORDANCE WITH SUCH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. SUCH RETURNS ARE OPEN FOR EXAMINATION UNTIL THE STATUTE OF LIMITATIONS EXPIRES. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF PALACE SHOP 324,724. PART XII, LINE 4B - OTHER ADJUSTMENTS: INCREASE IN TEMPORARILY RESTRICTED NET ASSETS 48,623. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COST OF PALACE SHOP 324,724. ROYAL GARDEN PARTY 154290 129850 24440 366 19318 19364 1024 7494 HOSTED EVENTS 225887 225887 118710 380177 129850 250327 366 19318 19364 1024 126204 166276 84051 X X X 0 0 0 0 0 0 0 0 0 KIPPEN DE ALBA CHU 151142 0 0 0 0 0 0 0 3527 0 154669 0 0 0 X 10 0 0 0 0 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF ITEMS CONTRIBUTED. NON REPORTING OF REVENUE: PART I, LINE 33: A ZERO AMOUNT WAS REPORTED ON FORM 990, PART VIII, STATEMENT OF REVENUE, LINE 1G, BECAUSE THE ORGANIZATION DID NOT CAPITALIZE ITS HISTORICAL COLLECTIONS, AS ALLOWED UNDER SFAS 116 (ASC 958-360-25). FORM 990, PART VI, SECTION A, LINE 2 DAVID KAWANANAKOA (DIRECTOR) AND QUENTIN KAWANANAKOA (FORMER DIRECTOR) HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS REVIEWED BY THE INTERNAL AFFAIRS COMMITTEE OF THE BOARD OF DIRECTORS PRIOR TO SIGNING BY AN OFFICER. IT IS DISTRIBUTED TO THE FULL BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C CLASSES THROUGH PROSERVICE ARE SCHEDULED TO TRAIN EMPLOYEES WITH REGARDS TO COMPLIANCE ISSUES. SPECIFIC TRAINING HAS BEEN HELD FOR MANAGERS AND SOME GENERAL TRAINING SESSIONS THAT SUMMARIZE WRITTEN STANDARDS AND FEDERAL REQUIREMENTS HAVE BEEN EXECUTED FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE DIRECTOR'S COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD. THE BOARD UTILIZES BENCHMARKING MEASURES ALONG WITH EVALUATING PERFORMANCE. DELIBERATION AND DECISION ARE DOCUMENTED IN THE MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 7, OTHER SALARIES AND WAGES DESCRIPTION: THE AMOUNTS INCLUDE WAGES, EMPLOYEE BENEFITS AND PAYROLL TAXES. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 4,239. PRIOR PERIOD ADJUSTMENTS: -309,346. TOTAL TO FORM 990, PART XI, LINE 5: -305,107.