2025-03-31T20:50:00-05:00 2024-06-30 421539623 KMH LLP 1003 BISHOP STREET SUITE 2400 HONOLULU HI 96813 990 2023-07-01 990272261 CHAMINADE UNIVERSITY OF HONOLULU CHAM 8087354711 3140 WAIALAE AVENUE HONOLULU HI 96816 DR LYNN BABINGTON PRESIDENT 8087354711 2025-03-31 1 0 CHRISTOPHER CASSIDY P01237316 8085262255 2023 2025-03-06 01:10:19Z DR LYNN BABINGTON 3140 WAIALAE AVENUE HONOLULU HI 96816 89545393 0 X WWW.CHAMINADE.EDU X 1957 HI CHAMINADE UNIVERSITY OFFERS ITS STUDENTS AN EDUCATION IN A COLLABORATIVE LEARNING ENVIRONMENT THAT PREPARES THEM FOR LIFE, WORK AND SERVICE. GUIDED BY ITS CATHOLIC, MARIANIST AND LIBERAL ARTS EDUCATIONAL TRADITIONS, CHAMINADE ENCOURAGES THE DEVELOPMENT OF MORAL CHARACTER, PERSONAL COMPETENCIES, AND A COMMITMENT TO BUILD A JUST AND PEACEFUL SOCIETY. THE UNIVERSITY OFFERES BOTH THE CIVIC AND CHURCH COMMUNITIES OF THE PACIFIC REGION ITS ACADEMIC AND INTELLECTUAL RESOURCES IN THE PURSUIT OF COMMON AIMS. 28 25 943 100 0 0 14388038 15332096 58157176 66965760 1203243 2971042 353907 307145 74102364 85576043 19086349 21971579 0 0 32886636 36148622 0 0 1114756 23300627 25607169 75273612 83727370 -1171248 1848673 123315698 146826287 35904578 34363578 87411120 112462709 X CHAMINADE UNIVERSITY OFFERS ITS STUDENTS AN EDUCATION IN A COLLABORATIVE LEARNING ENVIRONMENT THAT PREPARES THEM FOR LIFE, WORK AND SERVICE. GUIDED BY ITS CATHOLIC, MARIANIST AND LIBERAL ARTS EDUCATIONAL TRADITIONS, CHAMINADE ENCOURAGES THE (SEE SCHEDULE O) DEVELOPMENT OF MORAL CHARACTER AND PERSONAL COMPETENCIES, AND THE COMMITMENT TO BUILD A JUST AND PEACEFUL SOCIETY. THE UNIVERSITY OFFERS THE CIVIC AND CHURCH COMMUNITIES OF THE PACIFIC REGION ITS ACADEMIC AND INTELLECTUAL RESOURCES IN THE PURSUIT OF COMMON AIMS. 0 0 66940894 21971579 62571694 CHAMINADE OFFERS AN EDUCATION IN A COLLABORATIVE LEARNING ENVIRONMENT THAT PREPARES STUDENTS FOR LIFE, SERVICE AND SUCCESSFUL CAREERS. GUIDED BY ITS CATHOLIC, MARIANIST AND LIBERAL ARTS EDUCATIONAL TRADITIONS AND ACCREDITED BY THE WASC SENIOR COLLEGE AND UNIVERSITY COMMISSION, CHAMINADE PROVIDES 2500 STUDENTS WITH 25 UNDERGRADUATE DEGREE PROGRAMS, 12 CERTIFICATE PROGRAMS, SEVEN GRADUATE PROGRAMS, FIVE DOCTORAL PROGRAMS AND 15 DEGREE OPPORTUNITIES FOR WORKING ADULTS. 6432461 4394066 AUXILIARY ENTERPRISES AT CHAMINADE INCLUDE A 300 STUDENT RESIDENCE HALL PROGRAM; DINING SERVICES FEATURING THE SILVERSWORD CAFE AND COURTYARD POD MARKET; NCAA PACIFIC WEST CONFERENCE DIVISION II ATHLETIC PROGRAM ANNUALLY HOSTING THE MAUI JIM INVITATIONAL BASKETBALL TOURNAMENT; CAMPUS BOOKSTORE. 73373355 1 0 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 X 4183 0 1 943 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 X 28 25 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X CHOONG LIM 8087354831 3140 WAIALAE AVENUE HONOLULU HI 96816 V ARNOBIT REGENT 0.30 X 0 0 0 G BERGQUIST-TROMMALD REGENT 0.30 X 0 0 0 C WILSON REGENT 0.30 X 0 0 0 K DANCIL CHAIR 0.30 X 0 0 0 I EUSTAQUIO REGENT 0.30 X 0 0 0 J FIELD SECOND VICE CHAIR 0.30 X 0 0 0 L FORMAN REGENT 0.30 X 0 0 0 E FUJIMOTO REGENT 0.30 X 0 0 0 R HARANO FIRST VICE CHAIR 0.30 X 0 0 0 M JAMES REGENT 0.30 X 0 0 0 E KELLEY REGENT 0.30 X 0 0 0 K KNUDSEN SECRETARY 0.30 X 0 0 0 L LUIS REGENT 0.30 X 0 0 0 J MARKEL REGENT 0.30 X 0 0 0 B MISALUCHA REGENT 0.30 X 0 0 0 L MIZUMOTO REGENT 0.30 X 0 0 0 J ROLLES REGENT 0.30 X 0 0 0 A TANAKA REGENT 0.30 X 0 0 0 D UNDERRINER REGENT 0.30 X 0 0 0 E VIOLETT REGENT 0.30 X 0 0 0 T WALSH REGENT 0.30 X 0 0 0 J WIERCINSKI REGENT 0.30 X 0 0 0 O VASQUEZ CHANCELLOR/EX OFFICIO 0.30 X 0 0 0 J O'NEILL EX OFFICIO 0.30 X 0 0 0 C GAYAGAS EX OFFICIO 0.30 X 0 0 0 D CARTER EX OFFICIO/FACULTY SENATE PRESIDENT 40.00 X X 164792 0 8765 L BABINGTON PRESIDENT/EX OFFICIO 40.00 X X 464813 0 39772 G LIEBL EMERITUS REGENTS 0.30 X 0 0 0 G CORDOVA VP ADVANCEMENT 40.00 X 155490 0 25252 L ASKILDSON PROVOST & SENIOR VP FOR ACADEMIC AFFAIRS 40.00 X 258467 0 41429 A KAANOI VP FINANCE & FACILITIES 40.00 X 180222 0 39943 C DENTON VP ADMINISTRATION & GENERAL COUNSEL 40.00 X 147868 0 19043 A JEROME VP STUDENT AFFAIRS 40.00 X 168437 0 21523 L FURUTA VP COMMUNICATIONS & MARKETING 40.00 X 158786 0 39488 J CREECH VP FOR ENROLLMENT MANAGEMENT & ASSOC PROVOST 40.00 X 168648 0 9711 J HIGASHI VP ADVANCEMENT 40.00 X 127430 0 21425 D IWAMOTO ASSOC PROFESSOR & DIRECTOR 40.00 X 218745 0 37937 D FRYXELL DEAN 40.00 X 365908 0 17736 R HALEY DEAN 40.00 X 234770 0 25302 A HALSTON ASSOCIATE PROFESSOR 40.00 X 215996 0 20619 K TREECE DIRECTOR & PROFESSOR 40.00 X 217019 0 20845 M YAMASAKI FACULTY SENATE/PROFESSOR 40.00 X 115485 0 24636 R KIDO FORMER PRESIDENT OF FACULTY/ ASSOCIATE PROFESSOR 40.00 X 120210 0 18787 3483086 0 432213 70 1 1 0 BANKMOBILE 3140 WAIALAE AVENUE HONOLULU HI 96816 FINANCIAL SERVICES 7692899 ARAMARK SERVICES INC C/O ARAMARK CHICAGO LOCKBOX 27310 N CHICAGO IL 606731273 FOOD SERVICES 1583459 EDWARD ENTERPRISES INC PO BOX 30468 HONOLULU HI 968200468 PRINTING SERVICES 726166 ASSESSMENT TECHNOLOGIES INSTITUTE LLC 62277 COLLECTIONS CENTER DRIVE CHICAGO IL 606930622 EDUCATION 617517 CAROLINE COLLEGE PASTORAL INSTITUTE NEPWUKOS WENO CHUUK FM 96942 EDUCATION 605683 31 10246148 5085948 15332096 TUITION AND FEES 900004 62571694 62571694 AUXILIARY REVENUE 900004 4394066 4394066 66965760 1978670 1978670 4961722 3969350 992372 992372 992372 OTHER INCOME 900099 250497 250497 BOOKSTORE INCOME 900099 56648 56648 307145 85576043 66965760 0 3278187 X 21971579 21971579 2173009 2173009 28076407 25556747 1409568 1110092 1043291 881442 123562 38287 2782928 2351205 329595 102128 2072987 1751400 245513 76074 2550 2524 26 65056 65056 137491 137491 804967 600548 105110 99309 2800875 1779002 245108 776765 1255311 99413 1117710 38188 6851616 5741671 1079201 30744 1184381 1153016 30368 997 72101 72101 60255 60255 4826797 4433313 345979 47505 563774 520234 40240 3300 ALL OTHER 1293622 2450352 112994 -1269724 STUDENT SUPPORT 1209529 1209529 0 0 INSTITUTIONAL SUPPORT 1185832 0 1185832 0 BAD DEBT EXPENSE 772399 772399 0 0 2520613 2098981 360541 61091 83727370 73373355 9239259 1114756 11890379 12251574 2317425 2358641 3212163 4023797 2964854 3090597 545701 369349 122675692 69079811 55042628 53595881 38110554 43757468 9231994 27378980 123315698 146826287 4696855 6190102 6505869 4367632 19414801 18918532 5287053 4887312 35904578 34363578 X 48768788 50295725 38642332 62166984 87411120 112462709 123315698 146826287 X 1848673 3874016 19328900 X X 0 1 X 1 1 1 X 14409945 16959664 25453919 14388038 15332096 86543662 14409945 16959664 25453919 14388038 15332096 86543662 8893846 77649816 585922 491731 34723 1110810 1978670 4201856 90745518 282705922 0.85570 0.82280 X 154104 X 0 30928621 362156 4104195 550830 34844143 27391971 868151 3254052 585553 30928621 25517217 5986644 -3602060 509830 27391971 20471885 587542 4855459 397669 25517217 20028045 257398 515329 328887 20471885 0.00000 0.65000 0.35000 1 0 637000 637000 100662940 53073067 47589873 21256941 16006744 5250197 118811 118811 53595881 INTEREST IN NET ASSETS OF CUEF 1915001 COLLECTIONS 154104 RIGHT OF USE ASSET 6698913 CONTRIBUTION RECEIVABLE UNDER ASC 958 18610962 27378980 DEPOSITS 293855 CAPITAL LEASE OBLIGATION 4593457 4887312 X 70826407 3874016 3211600 136326 7221942 63604465 21971579 21971579 85576044 64967391 3211600 3211600 61755791 21971579 21971579 83727370 PART III, LINE 4: IN FYE JUNE 30, 2011, THE ORGANIZATION PURCHASED A FINE ART EDITION OF THE ST. JOHN'S BIBLE. THE BIBLE IS A WORK OF ART AND A WORK OF THEOLOGY. THE VISION AND VALUES OF THE BIBLE ARE TO IGNITE IMAGINATION, GLORIFY GOD'S WORD, REVIVE TRADITION, DISCOVER HISTORY, FOSTER THE ARTS, AND GIVE VOICE. THE ST. JOHN'S BIBLE, ON PUBLIC EXHIBITION, PROVIDES EDUCATION TO STUDENTS BY PROVIDING OPPORTUNITIES TO EXPLORE THE VARIOUS SUBJECTS WRITTEN AND ILLUMINATED IN THE BIBLE. CHAMINADE PLANS TO USE THE BIBLE IN LITURGIES MARKING EVENTS OF GREATEST SIGNIFICANCE IN CAMPUS LIFE, SUCH AS GRADUATIONS AND INSTALLATIONS. CHAMINADE WILL ALSO MAKE IT AVAILABLE FOR USE BY THE DIOCESE OF HONOLULU FOR SIMILAR OCCASIONS, SUCH AS THE ANNUAL RED MASS FOR HAWAII'S POLITICAL LEADERS AND THE OPENING OF THE ACADEMIC YEAR MASS WITH THE CATHOLIC SCHOOL TEACHERS. PART V, LINE 4: ENDOWMENT FUNDS ARE USED FOR SCHOLARSHIPS AND PROGRAM EXPENSES. PART X, LINE 2: IN EVALUATING A TAX POSITION FOR RECOGNITION, MANAGEMENT JUDGMENTALLY 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 UNIVERSITY'S FINANCIAL STATEMENTS AS THE LARGEST AMOUNT OF TAX BENEFIT THAT, IN MANAGEMENT'S JUDGMENT, IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE UNIVERSITY HAS EVALUATED ITS TAX POSITIONS AND DETERMINED THAT THERE WERE NO UNCERTAIN TAX POSITIONS AT JUNE 30, 2024 AND 2023. INTEREST AND PENALTIES, IF ANY (NONE IN 2024 OR 2023), ARE INCLUDED IN INSTITUTIONAL SUPPORT EXPENSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN NET ASSETS OF CUEF 136,326. PART XI, LINE 4B - OTHER ADJUSTMENTS: TUITION DISCOUNTS & SCHOLARSHIPS 16,830,435. FEDERAL GRANTS 5,141,144. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION DISCOUNTS & SCHOLARSHIPS 16,830,435. FEDERAL GRANTS NETTED AGAINST REVENUE 5,141,144. PART V, LINE 1: PLEDGE RECEIVABLES THAT ARE EXPECTED TO BE COLLECTED IN FUTURE YEARS ARE RECORDED AT THE PRESENT VALUE OF THEIR ESTIMATED FUTURE CASH FLOWS USING RISK-FREE INTEREST RATES IN THE YEAR IN WHICH THE PLEDGES ARE MADE. DURING THE FISCAL YEAR ENDED JUNE 30, 2020, A RESTATEMENT OF AN EXISTING DISCOUNTED PLEDGE RECEIVABLE WAS IMPLEMENTED DUE TO AN EXTENSION OF THE AMORTIZATION PERIOD. AS A RESULT, THE FISCAL YEARS ENDED JUNE 30, 2019 AND 2018 INCLUDE A PRIOR PERIOD ADJUSTMENT AS REFLECTED IN LINES 1A THROUGH 1G. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 NOTICE OF NONDISCRIMINATORY POLICY" IS AVAILABLE TO THE PUBLIC VIA THE UNIVERSITY CATALOG, STUDENT HANDBOOK AND CHAMINADE WEBSITE (WWW.CHAMINADE.EDU) SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES VARIOUS FEDERAL GOVERNMENT GRANTS SUCH AS THE PELL GRANT, TEACH GRANT, AND SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT. EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES ONE YEAR MBA PROGRAM, EXPERIENTIAL HONORS PROGRAM, CHUUK PROGRAM, ATHLETICS PROGRAM, CONFERENCES, SEMINARS, RESEARCH AND FIELDWORK, STUDY ABROAD, MONTESSORI ASIA 190274 EUROPE 0 0 PROGRAM SERVICES CONFERENCES, SEMINARS 11267 0 0 0 0 0 0 201541 0 201541 0 0 0 0 0 0 1 SCHOLARSHIPS & GRANTS 1004 15722023 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 0 1 X X X 0 0 0 0 0 0 0 0 0 L BABINGTON PRESIDENT/EX OFFICIO 464813 0 0 0 0 0 18559 0 22489 0 505861 0 0 0 D FRYXELL DEAN 365908 0 0 0 0 0 14887 0 3630 0 384425 0 0 0 L ASKILDSON PROVOST & SENIOR VP FOR ACADEMIC AFF 258467 0 0 0 0 0 13511 0 29016 0 300994 0 0 0 R HALEY DEAN 234770 0 0 0 0 0 11724 0 14581 0 261075 0 0 0 D IWAMOTO ASSOC PROFESSOR & DIRECTOR 218745 0 0 0 0 0 11349 0 26985 0 257079 0 0 0 K TREECE DIRECTOR & PROFESSOR 217019 0 0 0 0 0 10902 0 10350 0 238271 0 0 0 A HALSTON ASSOCIATE PROFESSOR 215996 0 0 0 0 0 10783 0 10224 0 237003 0 0 0 A KAANOI VP FINANCE & FACILITIES 180222 0 0 0 0 0 9724 0 31081 0 221027 0 0 0 L FURUTA VP COMMUNICATIONS & MARKETING 158786 0 0 0 0 0 8667 0 31621 0 199074 0 0 0 A JEROME VP STUDENT AFFAIRS 168437 0 0 0 0 0 8667 0 13639 0 190743 0 0 0 G CORDOVA VP ADVANCEMENT 155490 0 0 0 0 0 8091 0 17946 0 181527 0 0 0 J CREECH VP FOR ENROLLMENT MANAGEMENT & ASSOC 168648 0 0 0 0 0 8453 0 1896 0 178997 0 0 0 D CARTER EX OFFICIO/FACULTY SENATE PRESIDENT 164792 0 0 0 0 0 8265 0 1199 0 174256 0 0 0 C DENTON VP ADMINISTRATION & GENERAL COUNSEL 147868 0 0 0 0 0 7637 0 12101 0 167606 0 0 0 M YAMASAKI FACULTY SENATE/PROFESSOR 115485 0 0 0 0 0 6005 0 19175 0 140665 0 0 0 R KIDO FORMER PRESIDENT OF FACULTY/ ASSOCIA 120210 0 0 0 0 0 6178 0 13190 0 139578 0 0 0 PART I, LINE 1A THE EXEMPT ORGANIZATION PAYS FOR HEALTH OR SOCIAL CLUB DUES ON BEHALF OF PERSONS LISTED ON FORM 990, PART VII, SECTION A, LINE 1A. AMOUNTS PAID ARE TO FACILITATE BUSINESS ACTIVITIES CONDUCTED BY SUCH PERSONS AT THE CLUB. CLUB DUES ARE PAID ON BEHALF OF LYNN BABINGTON AND ROY PANZARELLA. AS ALL DUES PAID ARE TO FACILITATE BUSINESS ACTIVITIES, THE CLUB DUES QUALIFY AS WORKING CONDITION FRINGE BENEFITS AND ARE NOT REQUIRED TO BE TREATED AS TAXABLE COMPENSATION. PART I, LINE 1B THE EXEMPT ORGANIZATION DOES NOT FOLLOW A WRITTEN POLICY SPECIFICALLY FOR HEALTH OR SOCIAL CLUB DUES. HOWEVER, WRITTEN DOCUMENTATION IS REQUIRED FOR ALL CHARGES INCURRED ON THE MONTHLY DUES STATEMENTS. ADDITIONALLY, ALL REIMBURSEMENTS ARE PAID DIRECTLY TO THE CLUB. A CHAMINADE UNIVERSITY OF HONOLULU 990272261 419800GS0 2015-12-01 22595000 FURTHERANCE OF ENTITY'S CHARITABLE PURPOSE 0 0 0 A 22595000 1502734 643679 13283183 2016 0 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 1 0 0 NA 0 0 0 NA 0 0 1 A 0 SCHEDULE K, PART IV, ARBITRAGE: QUESTIONS 4D-4E AND 5D ARE NOT APPLICABLE TO THE EXEMPT ORGANIZATION. AS SUCH, THEY HAVE BEEN MARKED NO. SCHEDULE K, PART I, BOND ISSUES: LINE A INCLUDES THE FOLLOWING BOND CUSIPS: 419800GS0 419800GT8 419800GU5 419800GV3 FORM 990, PART V: QUESTIONS 7G AND 7H ARE NOT APPLICABLE TO THE EXEMPT ORGANIZATION. AS SUCH, THEY HAVE BEEN MARKED NO. FORM 990, PART VI, SECTION A, LINE 6 CHAMINADE'S MEMBERS CONSIST OF THE PROVINCIAL OF THE MARIANIST PROVINCE OF THE UNITED STATES, CHAMINADE CHAIR OF BOARD, THE PRESIDENT OF CHAMINADE AND THE OTHER MEMBERS OF THE PROVINCIAL COUNCIL OF THE MARIANIST PROVINCE OF THE UNITED STATES. THE MEMBERS HAVE THE AUTHORITY TO ELECT MEMBERS OF CHAMINADE'S GOVERNING BODY AND APPROVE SIGNIFICANT DECISIONS OF THE GOVERNING BODY, AMONG OTHER SIMILAR POWERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF CHAMINADE HAVE THE AUTHORITY TO RATIFY NOMINEES FOR THE POSITION OF PRESIDENT OF CHAMINADE UNIVERSITY OF HONOLULU AND TO RATIFY NOMINEES FOR THE BOARD OF REGENTS AT ANY ANNUAL OR SPECIAL MEETING OF MEMBERS NOTICED FOR THE SELECTION OF REGENTS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF CHAMINADE HAVE THE AUTHORITY TO: (A) APPROVE THE MERGER OR CONSOLIDATION OF CHAMINADE WITH ANOTHER CORPORATION OR ENTITY; (B) APPROVE THE SALE, LEASE, EXCHANGE, OR OTHER DISPOSITION OF ALL, OR SUBSTANTIALLY ALL, OF THE ASSETS OF CHAMINADE, OTHER THAN IN THE USUAL AND REGULAR COURSE OF ITS BUSINESS; (C) APPROVE THE PARTIAL OR TOTAL DISSOLUTION OF CHAMINADE; (D) AMEND CHAMINADE'S ARTICLES OF INCORPORATION PURSUANT TO THE PROCEDURES SET FORTH BY STATUTE; (E) RATIFY NOMINEES FOR THE POSITION OF PRESIDENT OF CHAMINADE UNIVERSITY OF HONOLULU; (F) RATIFY NOMINEES FOR THE BOARD OF REGENTS OF CHAMINADE AT ANY ANNUAL OR SPECIAL MEETING OF MEMBERS NOTICED FOR THE ELECTION OF REGENTS; AND (G) REMOVE A REGENT, WITH OR WITHOUT CAUSE, AT ANY ANNUAL OR SPECIAL MEETING OF THE MEMBERS NOTICED FOR THE REMOVAL OF THE REGENTS, PROVIDED, HOWEVER ANY VACANCIES MAY BE FILLED BY THE BOARD OF REGENTS IN ACCORDANCE WITH THE BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE 990 WILL BE SUBMITTED TO ALL MEMBERS OF THE AUDIT COMMITTEE AT THEIR JANUARY 2025 MEETING FOR REVIEW PRIOR TO FINALIZATION & FILING. AFTER THE AUDIT COMMITTEE'S APPROVAL, THE 990 WILL BE MADE AVAILABLE TO THE ENTIRE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR, IN JULY/AUGUST, THE PRESIDENT'S OFFICE EMAILS THE CONFLICT OF INTEREST FORMS TO EACH CURRENT MEMBER OF THE BOARD OF REGENTS, HUI ALAKA'I AND HUI HAKU (SENIOR LEADERSHIP COUNCIL). FORMS ARE THEN SENT BACK TO THE PRESIDENT'S OFFICE, WHO REVIEWS THE COMPLETED FORMS AND TRACKS WHICH FORMS MAY STILL BE OUTSTANDING. FORM 990, PART VI, SECTION B, LINE 15 FOR THE ORGANIZATION'S PRESIDENT, THE BOARD NEGOTIATES THE CONTRACT IN CONJUNCTION WITH THE UNIVERSITY LEGAL COUNSEL. FOR OTHER OFFICERS OR KEY EMPLOYEES, COMPENSATION IS NEGOTIATED BY THE PRESIDENT OF THE UNIVERSITY WHO CONSULTS WITH THE PERSONNEL OFFICE & COMPARES COMPENSATION WITH PEER INSTITUTIONS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS & CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE & UPON REQUEST. FORM 990, PART IX: DURING THE FISCAL YEAR ENDED JUNE 30, 2012, CHAMINADE UNIVERSITY ENTERED INTO A LONG-TERM POWER PURCHASE AGREEMENT TO PURCHASE THE ENERGY GENERATED BY A SOLAR ELECTRIC GENERATING FACILITY. MANAGEMENT HAS RECOGNIZED A CAPITAL LEASE FOR THE ESTIMATED PAYMENTS RELATED TO THE SYSTEM. ALTHOUGH FOR TAX PURPOSES THE AGREEMENT WOULD NOT FALL UNDER THE DEFINITION OF A CAPITAL LEASE, THE POWER PURCHASE AGREEMENT WILL BE ACCOUNTED FOR AS A CAPITAL LEASE ON THE FORM 990 IN KEEPING WITH THE BOOKS AND RECORDS OF THE ORGANIZATION. DURING THE FISCAL YEAR ENDED JUNE 30, 2015, AN ADDENDUM WAS CREATED TO INCREASE THE SIZE OF THE SOLAR POWER SYSTEM PREVIOUSLY INSTALLED. THE ADDITIONAL SOLAR POWER INSTALLED UNDER THIS ADDENDUM IS AN ADDITION TO THE EXISTING AGREEMENT AND WILL FOLLOW ALL THE RATES AND TERMS OF THE AGREEMENT. FORM 990, PART XI, LINE 9: CHANGE IN NET ASSETS OF CUEF 136,326. ROUNDING 19. RESTATEMENT OF BELOW MARKET LEASE UNDER ASC 958 19,192,555. FORM 990, PART XII, LINE 2C: THE OVERSIGHT & SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS: IN MARCH 2006, MARIANIST CENTER OF HAWAII (MCH) LEASED LAND AND CERTAIN BUILDINGS TO CHAMINADE UNIVERSITY UNDER A LEASE AGREEMENT. THE LEASE REQUIRES ANNUAL RENT OF $1 AND ALL TAXES, ASSESSMENTS, AND OTHER CHARGES APPLICABLE TO THE LEASED PREMISES. IT WAS DETERMINED THAT THIS $1 LEASE DOES NOT CONSTITUTE MEANINGFUL CONSIDERATION TO BE CONSIDERED A LEASE FOR ACCOUNTING PURPOSES. ACCOUNTING FOR THIS $1 LEASE SHOULD FOLLOW THE IN-KIND CONTRIBUTION GUIDANCE IN ASC 958-605-55-24, IN WHICH THE UNIVERSITY WOULD RECOGNIZE DONOR RESTRICTED CONTRIBUTION REVENUE AND CONTRIBUTION RECEIVABLE FOR THE DIFFERENCE BETWEEN FAIR RENTAL VALUE OF THE PROPERTY AND THE STATED AMOUNTS OF LEASE PAYMENTS. IN ACCORDANCE WITH ASC 958, THE UNIVERSITY WOULD RECORD A NET CONTRIBUTION RECEIVABLE AND DONOR-RESTRICTED CONTRIBUTION REVENUE FOR THE PRESENT VALUE OF THE FUTURE FAIR VALUE OF RENT UPON EXECUTION OF THIS LEASE. AS OF JULY 1, 2022, NET ASSETS WITH DONOR RESTRICTIONS AND CONTRIBUTION RECEIVABLE HAVE BEEN RESTATED BY APPROXIMATELY $19.7 MILLION TO CORRECT THE RECOGNITION OF THE MCH BELOW MARKET LEASE IN ACCORDANCE WITH ASC 958. FOR THE YEAR ENDED JUNE 30, 2023, THE CHANGE IN NET ASSETS WITH DONOR RESTRICTIONS DECREASED BY APPROXIMATELY $582,000 AS THE RESULT OF THE RECOGNITION OF THE RELEASE FROM THE CONTRIBUTION RECEIVABLE RELATED TO THE 2023 LEASE RENT. NET ADJUSTMENT MADE TO CONTRIBUTION RECEIVABLE AND NET ASSETS WITH DONOR RESTRICTIONS IS $19,192,555. MARIANIST CENTER OF HAWAII 3140 WAIALAE AVENUE HONOLULU HI 96816 990142275 EDUCATIONAL HI 501(C)(3) SEC. 170(B)(1)(A)(I) N/A 0 MARIANIST PROVINCE OF THE UNITED STATES 4425 W PINE ST LOUIS MO 63108 030415363 RELIGIOUS MO 501(C)(3) SEC. 170(B)(1)(A)(I) N/A 0 CHAMINADE UNIVERSITY EDUCATIONAL FOUNDATION C/O 1088 BISHOP STREET 1009 HONOLULU HI 96813 996007124 SCHOLARSHIP FOUNDATION HI 501(C)(3) SEC. 509(A)(3) N/A 0 CHARITABLE REMAINDER TRUST PROVIDE FUNDING TO SUPPORT ATHLETIC FACILITIES HI CHAMINADE UNIVERSITY OF HONOLULU T 1 0 0 1 0 0 0 0 1 0 0 1 0 0 1 1 1 0 1 0 MARIANIST PROVINCE OF THE UNITED STATES R 276691 CASH MARIANIST PROVINCE OF THE UNITED STATES P 74940 CASH MARIANIST CENTER OF HAWAII K 3211600 FAIR MARKET VALUE MARIANIST CENTER OF HAWAII H 1094300 FAIR MARKET VALUE