2012-11-12T11:42:33-06:00 2011-12-31 KPMG LLP PO BOX 4150 Honolulu HI 968124150 990 2011-01-01 990057829 WAIALAE COUNTRY CLUB % WAIALAE COUNTRY CLUB WAIA 8087342151 4997 KAHALA AVENUE HONOLULU HI 96816 ALLAN SU LUM 8087342151 2012-11-09 true 8085402800 2011 2016-02-24 21:20:13Z Allan S U Lum 4997 Kahala Avenue Honolulu HI 96816 18307396 false X www.waialaecc.com X 1942 HI a club for golf, social fellowship and companionship among its members, and for their recreation and for the entertainment of their friends and guests. 13 12 240 1281803 -516405 8691927 0 2696401 12127558 462421 99776 2206010 1687125 14056759 13914459 0 10000 0 0 6678130 8624063 0 0 0 6314932 6989897 12993062 15623960 1063697 -1709501 29375763 30471581 17388635 19706320 11987128 10765261 TO FORM, CONDUCT AND CARRY ON A CLUB FOR GOLF, SOCIAL FELLOWSHIP AND COMPANIONSHIP AMONG ITS MEMBERS, AND FOR THEIR RECREATION AND FOR THE ENTERTAINMENT OF THEIR FRIENDS AND GUESTS, WITH THE PRIVILEGE OF PROVIDING AND FURNISHING PREMISES FOR THE LOCATION OF THE CLUB WHERE THE CLUB MAY SELL TO AND PROVIDE FOR ITS MEMBERS, FRIENDS AND GUESTS GOODS AND REFRESHMENTS OF ALL KINDS CONNECTED WITH THE CONDUCT. false false THE CLUB'S PRIMARY FACILITIES INCLUDE A GOLF COURSE, TENNIS COURTS, AND DINING OPERATIONS. FACILITIES ARE AVAILABLE TO MEMBERS AND THEIR GUESTS. MEMBERSHIP IN THE CLUB IS BY INVITATION ONLY, AND IS PREDOMINANTLY COMPRISED OF RESIDENTS OF THE STATE OF HAWAII. false false false false false false false false false true false false false true false true false false false false true false false false false false false false true false false false false false true false false false false false false false false false true 82 0 true 240 true true true false false false false false false false false 2180600 1303540 false X 13 12 false false false false true true true true true false false true true true true false false true true false X WAIALAE COUNTRY CLUB 8087342151 4997 KAHALA AVENUE HONOLULU HI 96816 CEDRIC CHOI 0.5 X 0 0 0 MILES FURUTANI 0.5 X 0 0 0 GEORGE SUMNER III 0.5 X 0 0 0 HERBERT CHOCK 0.5 X 0 0 0 MELVYN MURAKAMI 0.5 X 0 0 0 MICHAEL HIRAI 0.5 X 0 0 0 THOMAS FARGO 0.5 X 0 0 0 KEVIN CHEE 0.5 X 0 0 0 NEAL KANDA 0.5 X 0 0 0 BRUCE MATSUSHITA 2.0 X X 7020 0 0 RANDALL YS CHUNG 2.0 X X 0 0 0 ALLAN KIMI 0.5 X 0 0 0 CLYDE MATSUI 0.5 X 0 0 0 THOMAS HIRAI 0.5 X 0 0 0 RAYMOND ONO 0.5 X 0 0 0 LAWRENCE RODRIGUEZ 0.5 X 0 0 0 C SCOTT WO 0.5 X X 0 0 0 RICHARD INGERSOLL 2.0 X 7625 0 0 ALLAN SU LUM 40.0 X 203193 0 16670 JAMES AHLOY 3.0 X 4141 0 0 DAVE NAKAMA 40.0 X 157500 0 8272 KATHLEEN MATTOS 40.0 X 147919 0 9281 KEVIN CARLL 40.0 X 101727 0 7653 MILES ISHIMA 40.0 X 117505 0 13499 GUIDO ULMANN 40.0 X 124238 0 3358 870868 0 58733 6 false true false KPMG LLP PO BOX 4150 HONOLULU HI 968124150 ACCOUNTING SERVICES 106676 1 0 MEMBER SERVICES 713910 2254926 2254926 SONY OPEN GOLF TOURNAMENT 713910 449621 449621 MEMBERSHIP DUES 713910 9423011 9423011 12127558 109465 109465 0 0 311439 492778 -181339 -181339 -181339 2673988 11620 2638578 56719 35410 -45099 -9689 35410 -45099 0 0 3064780 1204862 1859918 868646 991272 MISCELLANEOUS INCOME 900099 8546 8546 8546 13914459 11677937 1281803 954719 0 0 10000 0 385635 0 3758531 2992801 1099800 387296 19603 1884 114193 0 0 24095 115046 31179 869101 0 0 2456918 0 0 66723 4012 0 1797829 298359 REPAIRS & MAINTENANCE 618061 TOURNAMENT EXPENSES 224805 SECURITY 72057 ENTERTAINMENT 85466 190566 15623960 35347 41796 7415319 4011530 0 0 2854672 3077379 0 0 0 0 0 0 99144 102465 735287 818678 42403285 23176739 14780352 19226546 3455642 3193187 0 0 0 0 0 0 0 0 29375763 30471581 1799116 1990393 0 0 2454559 2722836 0 0 0 0 0 0 0 0 0 0 13134960 14993091 17388635 19706320 X 2910929 2910929 0 0 9076199 7854332 11987128 10765261 29375763 30471581 X -1709501 487634 X false true true X false 14851079 6388100 8462979 14141681 7591004 6550677 13318082 9197635 4120447 92443 0 92443 19226546 0 ACCRUED PENSION LIABILITY 2511715 OTHER LIABILITIES 1691382 ACCRUED RENT EXPENSE 10789994 14993091 13914459 15623960 -1709501 -335784 838418 502634 -1206867 15031101 -335784 1742467 1406683 13624418 24095 265946 290041 13914459 16237968 2239079 2239079 13998889 24095 1600976 1625071 15623960 Reconciliation of Change in Net Assets Schedule D, Part XI, Line 8 $ (532,258) - OCCUPANCY ADJUSTMENT $ 35,919 - INCOME TAX EXPENSE $ (272) - INVESTMENT INCOME ADJUSTMENT $1,335,030 - ADDITIONAL UNFUNDED PENSION LIABILITY ----------- $ 838,418 Reconciliation of Revenue Schedule D, Part XII, Line 2d $1,204,862 - COST OF GOODS SOLD $ 492,778 - RENTAL EXPENSES $ 45,099 - GAIN/LOSS ON DISPOSAL OF FA $ (272)- INVESTMENT INCOME ADJUSTMENT ----------- $1,742,467 Reconciliation of Revenue Schedule D, Part XII, Line 4b $ 48,699 - Sony Open Direct Expenses $ 220,677 - Golf Tournament Expenses $ (3,430)- General Excise Tax Reclass ---------- $ 265,946 Reconciliation of Expenses Schedule D, Part XIII, Line 2d $1,204,862 - COST OF GOODS SOLD $ 492,778 - RENTAL EXPENSES $ 45,099 - GAIN/LOSS ON DISPOSAL OF FA $ (35,919)- INCOME TAX EXPENSE $ 532,258 - OCCUPANCY ADJUSTMENT ----------- $2,239,079 Reconciliation of Expenses Schedule D, Part XIII, Line 4d $ 48,699 - Sony Open Direct Expenses $ 220,677 - Golf Tournament Expenses $ (3,430)- General Excise Tax Reclass $1,335,030 - Change in Adjustment to Pension Liability ---------- $1,600,976 Uncertain Tax Positions Schedule D, Part X, Line 2 The Club determines whether a tax position is more likely than not to be sustained upon examination by the applicable tax authority, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Once it is determined that a position meets this recognition threshold, the position is measured to determine the amount of tax benefit or expense to be recognized in the financial statements. East Asia/Pacific 10000 CHECK 0 N/A FMV 0 1 false false false false false false ADDITIONAL SCHEDULE F DISCLOSURE SCHEDULE F, PART II, LINE 3 WAIALAE COUNTRY CLUB DOES NOT NORMALLY PROVIDE GRANTS OR ASSISTANCE OUTSIDE OF THE UNITED STATES. THE $10,000 GIFT WAS PROVIDED TO THE JAPANESE RED CROSS VIA THE HONOLULU JAPANESE CONSULATE IN ORDER TO ASSIST IN THE RELIEF EFFORTS FOLLOWING THE DEVASTATING TSUNAMI IN MARCH 2011. THE DONATION WAS APPROVED BY THE BOARD OF DIRECTORS, AND FALLS UNDER THE CLUB'S NORMAL PROCUREMENT POLICY AND SPENDING LIMITS. X true true X X X false false false ALLAN SU LUM 164987 0 29790 0 8416 0 8051 0 8619 0 219863 0 0 0 DAVE NAKAMA 134651 0 17080 0 5769 0 5205 0 3067 0 165772 0 0 0 KATHLEEN MATTOS 128631 0 18100 0 1188 0 5923 0 3358 0 157200 0 0 0 Travel for Companions Schedule J, Part I, Line 1 The assistant secretary/assistant treasurer's spouse traveled with him on organization business trips and was reimbursed for the costs. These amounts were included as part of the employee's taxable compensation. THOMAS B FARGO DIRECTOR 520829 ELECTRICITY SERVICE false BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS SCHEDULE L, PART IV, COLUMN (D) THE FOLLOWING PAYMENTS WERE MADE TO THE ORGANIZATIONS OR COMPANIES THAT THE DIRECTORS WORK FOR, ARE BOARD MEMBERS OF, OR REPRESENT AND NOT TO THE INDIVIDUALS DIRECTLY: THOMAS B. FARGO: MR. FARGO IS A MEMBER OF THE BOARD OF DIRECTORS OF HAWAIIAN ELECTRIC INDUSTRIES, WHICH IS THE PARENT COMPANY OF HAWAIIAN ELECTRIC COMPANY, THE ONLY ELECTRICITY PROVIDER ON THE ISLAND OF OAHU. THE TRANSACTION REPRESENTS AMOUNTS PAID AT STANDARD RATES AVAILABLE TO THE PUBLIC FOR ELECTRICITY SERVICES TO HAWAIIAN ELECTRIC COMPANY. Governing Body and Management Form 990 Part VI Section A Line 6 The organization has approximately 1,450 members and 35 different classes of membership. Regular, Limited, Senior Regular, Special Limited and Senior Special Limited member classes are entitled to: (1) Elect the members of the governing body; and (2) Approve significant decisions of the governing body. Regular, Limited, Senior Regular, Senior Limited, Ex-Resident Regular, Ex-Resident Limited, Ex-Resident Senior, Special Limited, and Senior Special Limited member classes who hold Transfer Certificates at the time the organization dissolves may be entitled to share in the organization's assets, if any. Line 7a Of these members, approximately 650 members may elect the governing body. Line 7b 1) Any expenditures in excess of $500,000 requires a majority vote of voting members. 2) Some of the decisions of the governing body may be subject to approval by the voting members. Policies Form 990 Part VI Section B Line 11b The controller and general manager review the Form 990 prior to its filing with the IRS. Line 12c The Executive Committee of the Board is charged with monitoring proposed or ongoing transactions for conflicts of interest and any actual conflicts are referred to the full Board of Directors for action. Any potential conflicts of interest are reported to the President. Pursuant to the Conflicts of Interest Policy, an annual conflict of interest statement, aimed at determining any family and business relationships and transactions or other transactions that may pose a potential conflict, is distributed to all covered persons (i.e., board members, officers, management, and all key employees). Covered persons are required to disclose real or potential conflicts at the time when such conflicts arise. When someone becomes a covered person and annually thereafter, each covered person is required to sign a statement affirming that he/she has no conflicts of interest as defined in the Club's Conflict of Interest Policy. The procedures for addressing any conflict of interest are determined on a case by case basis. Lines 15a & 15b The Managing Review Committee, comprised solely of independent members, none of which have a conflict of interest with respect to the compensation arrangement, is accountable for setting reasonable compensation packages for each officer or key employee (including the general manager). Yearly, the Managing Review Committee reviews the annual performance goals and criteria used in determining merit increases and variable compensation criteria for officers and key employees. Appropriate comparability data is obtained from other clubs in the area, i.e., total economic benefits paid by similarly situated organizations (both taxable and tax-exempt) for similar job responsibilities. Key deliberations of the Committee are documented in minutes which are approved at the next Committee meeting. Disclosure Form 990 Part VI Section C Line 19 The organization has its governing documents, conflict of interest policy and financial statements available to the public upon request. RECONCILIATION OF NET ASSETS FORM 990, PART XI, LINE 5 $ (335,784) - UNREALIZED GAIN ON SALE OF INVESTMENTS $ (532,258) - OCCUPANCY ADJUSTMENT $ 35,919 - INCOME TAX EXPENSE $ (272) - INVESTMENT INCOME ADJUSTMENT $1,335,030 - CHANGE IN ADJUSTMENT TO PENSION LIABILITY $ (15,000) - TRANSFER CERTIFICATE ADJUSTMENT ----------- $ 487,634