2011-04-15T19:02:16-05:00 2010-05-31 KMH LLP 1003 BISHOP STREET SUITE 2400 HONOLULU HI 96813 990 2009-06-01 990078306 HAWAII PREPARATORY ACADEMY HAWA 8088857321 65-1692 KOHALA MOUNTAIN ROAD KAMUELA HI 967438476 ROBERT MCKENDRY 8088857321 2011-04-15 1 ALAN ML YEE 8085262255 2009 2016-02-24 21:20:13Z ROBERT MCKENDRY 65-1692 KOHALA MOUNTAIN ROAD KAMUELA HI 967438476 24686741 0 X www.hpa.edu X 1957 HI EDUCATION 20 19 293 315 682052 -35518 8241471 1946687 14435527 14722366 608351 1589987 353332 811112 23638681 19070152 1742483 1967323 0 10062466 10153054 0 337433 5836535 6391964 17641484 18512341 5997197 557811 83366074 88435316 8482824 10160900 74883250 78274416 TO PROVIDE EXCEPTIONAL LEARNING OPPORTUNITIES AND A DIVERSE COMMUNITY HONORING THE TRADITIONS OF HAWAII. SEE ATTACHED STATEMENT. 0 0 12813927 1967323 14800281 K-12 EDUCATIONAL PROGRAM - PROVIDES EDUCATION FOR APPROXIMATELY 600 STUDENTS FROM KINDERGARTEN TO GRADE 12 12813927 1 1 0 0 1 0 1 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 0 0 0 1 1 1 0 0 0 1 0 0 0 1 38 0 1 293 1 1 1 0 0 0 0 0 0 0 0 20 19 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 0 0 0 X ROBERT MCKENDRY 8088857321 65-1692 KOHALA MOUNTAIN ROAD KAMUELA HI 967438476 DR MICHAEL J CHUN 2.00 X 0 0 0 WILL J HANCOCK 2.00 X 0 0 0 NONA HASEGAWA 2.00 X 0 0 0 CHARLES G KING 2.00 X 0 0 0 DUNCAN MACNAUGHTON 2.00 X 0 0 0 JAKE J MIZUNO 2.00 X 0 0 0 GREGORY R MOOERS 2.00 X 0 0 0 DAVID W PRATT 2.00 X 0 0 0 WILLIAM D PRATT 2.00 X 0 0 0 ROBERT L REED 2.00 X 0 0 0 MICHAEL S SPALDING 2.00 X 0 0 0 DONNA TANOUE 2.00 X 0 0 0 PETER M VITOUSEK 2.00 X 0 0 0 PONO VON HOLT 2.00 X 0 0 0 LAURIE T AINSLIE 4.00 X X 0 0 0 DEBORAH BAKER 2.00 X X 0 0 0 PENNY BRADLEY 2.00 X X 0 0 0 PUTMAN D CLARK 2.00 X X 0 0 0 MICHAEL K FUJIMOTO 2.00 X X 0 0 0 ROY A VITOUSEK III 2.00 X X 0 0 0 LINDSAY R BARNES 40.00 X 184426 0 33003 GARY CAMPBELL 40.00 X 82273 0 5600 KATHERINE PURDY 40.00 X 44610 0 4343 SHIRLEY ANN FUKUMOTO 40.00 X 118643 0 13324 429952 0 56270 2 0 1 0 Quality Builders Inc PO Box 2135 KAMUELA HI 96743 CONSTRUCTION 3104988 Renewable Energy Services Inc PO Box 278 PAAUILO HI 96776 CONSTRUCTION 229008 Hilton Hara Electrical Contractor 1151 Kinoole STREET HILO HI 96720 CONSTRUCTION 201414 Flansburgh Architects Inc 77 N WASHINGTON STREET BOSTON MA 02114 CONSTRUCTION 129376 Pa'ahana Enterprises PO Box 109 KEALAKEKUA HI 96750 CONSTRUCTION 110408 5 12550 1934137 138503 1946687 TUITION FEES AND STUDE 611710 13971172 13971172 SPECIAL PROGRAMS 611710 751194 751194 14722366 1498930 1498930 8900 8900 8900 8900 5560441 5469384 91057 91057 91057 16490 12550 3603 12887 12887 221517 143602 77915 77915 ISAACS ART GALLERY 900099 682052 682052 OTHER INCOME 900099 29358 29358 711410 19070152 14800281 682052 1641132 1967323 1967323 311309 53253 236754 21302 6722397 4538065 2016107 168225 522382 334324 174600 13458 2071090 1269546 762852 38692 525876 352337 161763 11776 5294 5294 34691 34691 4871 4871 886956 355648 502307 29001 1398744 1289612 103544 5588 165065 110518 17111 37436 131450 131450 924814 852659 68461 3694 Food/Food Services 1089399 1089399 Art Center Operations 640390 640390 Student Activities 313652 313652 TICKETS, FEES 27175 27175 CONTRACT SERVICES 6088 6088 763375 249457 505657 8261 18512341 12813927 5360981 337433 169800 280021 1024514 1101146 5587951 1784957 432083 317489 18500 81549 2868679 2349421 234528 97500 57380241 15080832 37253654 42299409 15635682 17752826 4982286 15176897 22352498 83366074 88435316 2199479 2741913 1804893 2114187 4309729 5199585 168723 105215 8482824 10160900 X 38443487 43817265 14960477 10365416 21479286 24091735 74883250 78274416 83366074 88435316 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 381223 0 0 86900 4875370 X X X X FUNDRAISING 1 15694279 1272028 1925739 1082395 17809651 21130804 144836 -4589300 992061 15694279 0.51300 0.41870 0.06830 1 0 6312078 6312078 39431295 7660866 31770429 8829694 7419966 1409728 2807174 2807174 42299409 BENEFICIAL INTERESTS IN TRUSTS HELD BY OTHERS 16546675 DONATED ARTWORK HELD FOR INVESTMENT 2651897 DONATED REAL ESTATE HELD FOR INVESTMENT 3153926 22352498 CHARITABLE GIFT ANNUITY LIABILITIES 105215 105215 19070152 18512341 557811 1492617 1340738 2833355 3391166 22600712 1492617 1919778 3412395 19188317 -118165 -118165 19070152 19209546 697205 697205 18512341 0 18512341 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: Description of Intended Use of Endowment Funds: The Academy's endowment includes 70 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 XI, Line 8 - Other Adjustments: CHANGES IN BENEFICIAL INTERESTS IN TRUSTS HELD BY OTHERS: 1369778. FUNDRAISING EVENT GROSS RECEIPTS (NOT INCLUDED ON AUDITED FINANCIALS): -29040. Part XII, Line 2d - Other Adjustments: CHANGES IN BENEFICIAL INTERESTS IN TRUSTS HELD BY OTHERS: 1369778. ADJUSTMENT TO CONTRIBUTION REVENUE (BOOKED AS EXPENSE ON AUDITED FINANCIALS): 550000. Part XII, Line 4b - Other Adjustments: FUNDRAISING EVENT EXPENSES (NETTED AGAINST REVENUE PER TAX RETURN): -3603. COST OF SALES - INVENTORY (NETTED AGAINST REVENUE PER TAX RETURN): -143602. FUNDRAISING EVENT GROSS RECEIPTS (NOT INCLUDED ON AUDITED FINANCIALS): 29040. Part XIII, Line 2d - Other Adjustments: FUNDRAISING EVENT EXPENSES (NETTED AGAINST REVENUE PER TAX RETURN): 3603. COST OF SALES - INVENTORY (NETTED AGAINST REVENUE PER TAX RETURN): 143602. ADJUSTMENT TO CONTRIBUTION REVENUE (BOOKED AS EXPENSE ON AUDITED FINANCIALS): 550000. 1 1 1 NONDISCRIMINATORY POLICY PRINTED ON ADMISSION AND FINANCIAL AID PUBLICATION AND IN NEWSPAPER ADVERTISEMENTS. 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 GOLF EVENT 29040 12550 16490 600 3003 29040 12550 16490 600 3003 3603 12887 1 STUDENT TUITION FINANCIAL AID 203 1967323 0 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, 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 X X 0 0 0 0 0 0 0 0 0 LINDSAY R BARNES 184426 0 0 0 0 0 20900 0 13018 0 218344 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. PUTMAN D CLARK AUCTION receivable X 18500 18500 0 0 0 18500 DONNA TANOUE BOARD MEMBER IS AN OFFICER OF BANK OF HAWAII 150229 INVESTMENT MANAGEMENT FEES, INTEREST EXPENSE 0 X 6 84900 FAIR MARKET VALUE X 3800 FAIR MARKET VALUE X 11650 FAIR MARKET VALUE X 5 30153 FAIR MARKET VALUE X 1 2000 FAIR MARKET VALUE X ELECTRIC VEHICLE 1 6000 fAIR MARKET VALUE 23 0 1 0 Form 990, Part VI, Section A, line 2 DAVID W. PRATT (BOARD MEMBER) IS THE FATHER OF WILLIAM D. PRATT (BOARD MEMBER). PETER M. VITOUSEK (BOARD MEMBER) IS THE BROTHER OF ROY A. VITOUSEK, III (BOARD MEMBER). Form 990, Part VI, Section B, line 11 THE RETURN PREPARER PROVIDES A COPY OF THE FORM 990 TO THE FINANCE/AUDIT COMMITTEE FOR REVIEW. THE TREASURER, WHO IS CHAIR OF THE FINANCE COMMITTEE, WILL REVIEW THE RETURN AND ISSUE A REPORT ON THE RETURN TO THE BOARD. Form 990, Part VI, Section B, line 12c A QUESTIONNAIRE IS SENT TO ALL BOARD MEMBERS PRIOR TO THE FILING OF THE 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. 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 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 VI, SECTION B, LINE 15: HEADMASTER SALARY - DETERMINED BY A COMMITTEE OF THE BOARD. THEY RELY ON EXPERIENCE OF THE CANDIDATE AND USE INDUSTRY DATA TO HELP WITH THE DECISION. THEY WILL CONSIDER WHAT WAS PAID TO PAST HEADMASTERS, AS WELL AS WHAT OTHER HEADMASTERS ARE EARNING IN PRIVATE SCHOOLS IN HAWAII AND ON THE MAINLAND. THE DELIBERATIONS ARE EXCLUDED FROM MINUTES OF THE MEETINGS. OTHER KEY EMPLOYEES SALARIES - NOT INFLUENCED BY THE BOARD. THE SALARIES ARE DETERMINED BY THE HEADMASTER WITH THE HELP OF OTHER DEPARTMENT HEADS DEPENDING ON THE POSITION. THE BUSINESS MANAGER AND HR DIRECTOR HELP IN GATHERING COMPARATIVE SALARY INFORMATION FOR THAT POSITION FROM HAWAII AND THE MAINLAND AS A GUIDELINE. FORM 990, SCHEDULE D, PART IX: The Academy also has a 16 percent beneficial interest in the Parker Ranch Foundation Trust. The Academy has not recorded an asset and related contribution revenue for its beneficial interest in this trust because management believes that the fair value of the trust is not determinable. According to accounting principles generally accepted in the United States of America, the fair value of the contribution should be measured by using a valuation technique such as the present value of the expected future cash receipts from the trust's assets. Distributions from the trust in prior years have been inconsistent in amounts. Accordingly, management does not believe that it is feasible to calculate the present value of expected cash flows from the trust. Although the trust has reported fair value information about its assets in the past, management is aware that a significant portion of the assets is undeveloped land, and thus is uncertain as to the cash flows from such land. Income from the trust is classified as unrestricted investment income. 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 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 PARKER RANCH FOUNDATION TRUST 67-1435 MAMALAHOA HIGHWAY KAMUELA HI 96743 996064620 SUPPORT HAWAII PREPARATORY ACADEMY AND OTHER HAWAII ORGANIZATIONS HI 501(C)(3) LINE 11 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 HAWAII PREPARATORY ACADEMY ALUMNI ASSOCIATION INC C 0 HAWAII PREPARATORY ACADEMY PARENTS ASSOCIATION INC C 0 PARKER RANCH FOUNDATION TRUST C 128000