2019-05-13T21:39:33-05:00 2018-06-30 KPMG LLP 1003 Bishop Street Suite 2100 Honolulu HI 96813 990 2017-07-01 990073502 'IOLANI SCHOOL % WEI LEE-YONAMINE IOLA 8089495355 563 KAMOKU STREET HONOLULU HI 96826 REID GUSHIKEN CFO 8089495355 2019-05-13 true CANDACE C CHING P01698370 8085402800 2019-05-13 167.68.102.5 99005920191335000000 2019-05-13 P F81E0E728B2C8ABD11084026A9CA94D563B43E23 369E5A1C6A2DDA29EAA06BCCC6FA42E233A5B77D 2017 2019-02-21 02:37:17Z REID GUSHIKEN 563 KAMOKU STREET HONOLULU HI 96826 169972670 false X www.iolani.org X 1942 HI 'IOLANI SCHOOL IS A COLLEGE-PREP SCHOOL FOR GRADES K-12 WHOSE MISSION IS TO DEVELOP EDUCATED, WELL-ROUNDED INDIVIDUALS WHO ARE WELL PREPARED FOR COLLEGE. 23 22 1010 5072 0 14712 9641288 6479579 46194442 48172357 16101283 15723584 676327 41435 72613340 70416955 4525054 4860214 0 0 36669574 39347309 0 0 2365214 16009824 16315772 57204452 60523295 15408888 9893660 288198519 311825102 52238512 64627557 235960007 247197545 X 'IOLANI'S MISSION IS TO DEVELOP LIBERALLY EDUCATED, WELL-ROUNDED INDIVIDUALS WHO ARE WELL PREPARED FOR HIGHER EDUCATION AND FOR RESPONSIBLE, MORAL CITIZENSHIP. TO FOSTER ACADEMIC EXCELLENCE AND PERSONAL GROWTH, A SCHOOL MUST BE CHALLENGING AND COMPETITIVE YET COMPASSIONATE AND HUMANE. THE 'IOLANI MOTTO "ONE TEAM" EXPRESSES THE SPIRIT OF UNSELFISH COOPERATION AND MUTUAL SUPPORT AMONG FACULTY, STAFF, COACHES, PARENTS AND STUDENTS. 'IOLANI IS COMMITTED TO THE FOLLOWING IDEALS: - AN EDUCATION WHICH REFLECTS ITS EPISCOPAL CHURCH HERITAGE AND PROVIDES A SPIRITUAL FOUNDATION FOR THE DEVELOPMENT OF PERSONAL VALUES AND MORAL INTEGRITY. - AN EXEMPLARY COLLEGE PREPARATORY CURRICULUM WITH SMALL CLASSES, PERSONALIZED INSTRUCTION AND FREQUENT OCCASIONS TO SPEAK, LISTEN, THINK, AND WRITE. - THE DEVELOPMENT OF INDIVIDUALS WHO ARE CREATIVE AND INQUISITIVE, WHO CAN ANALYZE AND SYNTHESIZE INFORMATION TO SOLVE PROBLEMS, AND WHO CONDUCT THEMSELVES WITH CONFIDENCE, DISCRETION, TOLERANCE, AND COMPASSION. - A false false 43018075 4860214 44741332 'IOLANI WAS FOUNDED IN 1863 AFTER KING KAMEHAMEHA IV AND QUEEN EMMA SET OUT TO ESTABLISH AN ANGLICAN CHURCH IN HAWAII. THE SCHOOL IS ROOTED IN THREE SMALL SCHOOLS - A LAHAINA SCHOOL ON THE ISLAND OF MAUI, ST. ALBAN'S COLLEGE AND 'IOLANI COLLEGE - FORMED DURING HAWAII'S MONARCHY DAYS. THE SCHOOL'S CAMPUS WAS ONCE LOCATED ON THE GROUNDS OF ST. ANDREW'S CATHEDRAL, MOVED TO NU'UANU, AND THEN FINALLY RELOCATED IN 1946 TO ITS PRESENT 25-ACRE PROPERTY. 'IOLANI WAS ORIGINALLY AN ALL-BOYS SCHOOL, BUT BECAME CO-EDUCATIONAL IN 1979. TODAY, 'IOLANI HAS MORE THAN 10,310 LIVING ALUMNI AROUND THE WORLD. THERE ARE APPROXIMATELY 330 FULL-TIME FACULTY AND STAFF DEDICATED TO APPROXIMATELY 1,940 STUDENTS FROM DIVERSE BACKGROUNDS ENROLLED IN GRADES K - 12. ROUGHLY 700 PART-TIME OR SEASONAL TEACHERS, AIDES, COACHES, AND STAFF SUPPLEMENT THE SCHOOL'S EXPANSIVE AFTER-SCHOOL, SUMMER, PERFORMING ARTS, ATHLETIC AND EXTRA-CURRICULAR PROGRAMS. DURING THE SUMMER, STUDENTS FROM THROUGHOUT THE STATE AND AROUND THE WORLD ENROLL IN CLASSES. 'IOLANI SCHOOL IS A PRIVATE SCHOOL YET SERVES THE PUBLIC PURPOSE OF REACHING OUT TO THE COMMUNITY AS WELL AS BEING A RESOURCE FOR OTHER ORGANIZATIONS. THE SCHOOL IS INCREASINGLY BECOMING MORE GLOBAL AS STUDENTS ARE CONNECTED BY TECHNOLOGY TO OTHER PARTS OF THE WORLD. IN THE FALL OF 2013, THE SCHOOL OPENED THE NEW SULLIVAN CENTER FOR INNOVATION AND LEADERSHIP, A FOUR-STORY, 40,000 SQUARE FOOT GREEN DESIGNED BUILDING OFFERING COLLABORATIVE LEARNING SPACES WHERE STUDENTS LEARN TO BE EFFECTIVE LEADERS THROUGH COURSES EMPHASIZING EMPATHY, INTERPERSONAL COMMUNICATION AND REAL-WORLD PROBLEM SOLVING. THE BUILDING INCLUDES A FABRICATION LAB AND MAKER SPACES, A LIBRARY WITH COLLABORATION ROOMS, FLEXIBLE OPEN LEARNING SPACES, A WET LAB, A MEDIA CENTER, A SEMINAR ROOM, AND A ROOFTOP GARDEN. THE CENTER IS ALSO A COMMUNITY RESOURCE FOR VARIOUS LOCAL AND NATIONAL GROUPS. 'IOLANI UPHOLDS HIGH STANDARDS OF ACADEMIC EXCELLENCE AND IS CONSIDERED AMONGST THE EDUCATIONAL LEADERS IN HAWAII AND AROUND THE WORLD. THE SCHOOL MAINTAINS A HEALTHY FINANCIAL PORTFOLIO AND ATTEMPTS TO KEEP TUITION AS LOW AS POSSIBLE. TUITION COVERS APPROXIMATELY 75% OF THE COST OF EDUCATING A CHILD WITH INTEREST INCOME FROM THE SCHOOL'S ENDOWMENT AND FUNDRAISING COVERING THE DIFFERENCE BETWEEN TUITION AND THE ACTUAL COST. THE SCHOOL'S FACULTY IS HIGHLY QUALIFIED AND COMMITTED TO THEIR STUDENTS WITH RELATIONAL TEACHING A HIGH PRIORITY. TEACHERS ARE ENCOURAGED TO ATTEND CONFERENCES EITHER LOCALLY OR NATIONALLY TO STAY ABREAST OF CURRENT AND EFFECTIVE PEDAGOGIES. 2013-14 WAS THE FIRST YEAR OF FULL IMPLEMENTATION OF THE I-DEPARTMENT, WHICH PROVIDES STUDENTS WITH ELECTIVES AKIN TO COLLEGE-LEVEL COURSES THAT INSPIRE INNOVATION AND ENTREPRENEURSHIP. THESE CLASSES INCLUDE DESIGN AND FABRICATION, IPAD APP DESIGN AND DEVELOPMENT, APPLIED RENEWABLE ENERGY SYSTEMS, ROBOTICS, THE ONE MILE CLASS, AND VIDEO GAME DESIGN. IN ADDITION, THE SCHOOL MAINTAINS OUTSTANDING ACADEMIC PROGRAMS IN ENGLISH, WORLD LANGUAGES (CHINESE, JAPANESE, SPANISH, FRENCH, LATIN, AND HAWAIIAN), HEALTH EDUCATION, HISTORY, MATHEMATICS, PERFORMING ARTS, PHYSICAL EDUCATION, RELIGION, SCIENCE AND ATHLETICS. THERE IS AN ACTIVE STUDENT ACTIVITIES OFFICE AND EACH APRIL, 'IOLANI HOLDS A TWO-DAY COMMUNITY FAIR PROVIDING AN OPPORTUNITY TO RAISE FUNDS TO SUPPORT STUDENT TRAVEL INITIATIVES. STUDENT TRAVEL IS A LARGE PART OF THE 'IOLANI EXPERIENCE AS WELL, PROVIDING HANDS-ON EXPERIENCES WITH DIFFERENT CULTURES AND OPPORTUNITIES FOR DEVELOPING GLOBAL CITIZENS. SOME PROGRAMS INCLUDE: THEATER STUDENTS PERFORMING AT THE EDINBURGH FRINGE FESTIVAL IN SCOTLAND, THE ORCHESTRA PERFORMING AT THE LONDON INVITATIONAL SERIES, COLLEGE TOURS TO THE EAST AND WEST COASTS, ECONOMICS TEAM COMPETING IN NEW YORK CITY IN THE NATIONAL ECONOMICS BOWL, and A WEEKLONG EXCHANGE PROGRAM WITH TSINGHUA HIGH SCHOOL IN BEIJING, CHina, AND A SERVICE LEARNING TRIP TO INDIA. 'IOLANI STUDENTS ARE SEEN AS LEADERS IN THE COMMUNITY AND ARE DEDICATED TO COMMUNITY SERVICE. STUDENT ACCOMPLISHMENTS INCLUDE STATE AND NATIONAL RECOGNITION IN COMPETITIONS SUCH AS THE SUPER SCIENCE FAIR, HONG KONG UNIVERSITY REAL WORLD DESIGN COMPETITION, MATH LEAGUE, SPEECH AND DEBATE, ROBOTICS, MUSIC, ART. NINETY-NINE PERCENT OF SENIORS ATTEND COLLEGE, INCLUDING HIGHLY SELECTIVE UNIVERSITIES SUCH AS STANFORD, HARVARD, YALE, NEW YORK UNIVERSITY, GEORGETOWN AND OTHERS. 'IOLANI SCHOOL IS ACCREDITED BY THE WESTERN ASSOCIATION OF SCHOOLS AND COLLEGES, AND LICENSED BY THE HAWAII COUNCIL OF PRIVATE SCHOOLS. 5326819 3278250 'IOLANI OFFERS AN EXTENSIVE SUMMER AND AFTER SCHOOL PROGRAM WITH REINFORCEMENT, ENRICHMENT, ELECTIVE AND CREDIT COURSES. THESE COURSES ARE OPEN TO STUDENTS FROM ALL SCHOOLS AND ARE AVAILABLE ON A FIRST COME FIRST SERVE REGISTRATION BASIS. FROM DANCE, PHYSICAL EDUCATION, ART, MATH, READING, ROBOTICS, VIDEO GAME DESIGN, SAT PREPARATION CLASSES, MORE THAN 3,500 STUDENTS ENROLL EACH YEAR IN 'IOLANI'S SUMMER AND SPECIAL PROGRAMS. MANY STUDENTS COME FROM THE U.S. MAINLAND AND ASIA TO ENROLL THEIR CHILDREN IN 'IOLANI'S SUMMER PROGRAMS, WHICH EMPLOYS TEACHERS WHO ARE EMPLOYED BY 'IOLANI, OTHER INDEPENDENT SCHOOLS, AND PUBLIC SCHOOLS. IN ADDITION, THE KA'I PROGRAM IS A SUMMER MENTORING PARTNERSHIP BETWEEN 'IOLANI AND JARRETT MIDDLE SCHOOL, A NEIGHBORING PUBLIC MIDDLE SCHOOL. THE PERFORMING ARTS DEPARTMENT AT 'IOLANI OFFERS ORCHESTRA, DANCE (HULA, BALLET, JAZZ), STAGE BAND, MARCHING BAND, JAZZ BAND, THEATER, MUSICAL THEATER, AND CHOIR. THESE DIFFERENT DISCIPLINES SHOWCASE THEIR STUDENTS' ABILITIES THROUGH PERFORMANCES HELD EITHER ON CAMPUS OR AT THEATERS AND OTHER VENUES IN THE COMMUNITY. THESE GROUPS ALSO TRAVEL TO THE MAINLAND AND FOREIGN COUNTRIES TO PERFORM. A FALL PLAY AND SPRING MUSICAL ARE PRESENTED EACH YEAR. AUDITIONS ARE OPEN TO ALL STUDENTS IN UPPER SCHOOL AND, IF REQUIRED BY THE PRODUCTION, THE LOWER SCHOOL. GUEST ARTISTS/TEACHERS VISIT THE SCHOOL THROUGH SPONSORSHIP UNDER THE TAM & YOUNG ARTS CHAIR. 2367005 152775 'IOLANI IS A MEMBER OF THE INTERSCHOLASTIC LEAGUE OF HONOLULU (ILH). ALL PARTICIPANTS ARE EXPECTED TO FULFILL ALL ATHLETIC REQUIREMENTS, TO DISPLAY GOOD SPORTSMANSHIP, AND TO FOLLOW THE PROGRAM SET FORTH BY COACHES AND THE ATHLETIC DEPARTMENT. THERE ARE 17 VARSITY SPORTS FOR BOYS AND GIRLS, AS WELL AS MANY SPORTS IN THE JUNIOR VARSITY AND INTERMEDIATE GRADE LEVELS. FOR THE LOWER GRADE LEVELS, 'IOLANI PARTICIPATES IN THE CHRISTIAN SCHOOLS ATHLETIC LEAGUE FOR BASKETBALL AND VOLLEYBALL. THERE ARE ALSO OPPORTUNITIES FOR YOUNGSTERS TO PARTICIPATE IN INTRAMURAL SPORTS. THE CAMPUS HOSTS NUMEROUS ATHLETIC TOURNAMENTS AND SPORTING EVENTS, WHICH SCHOOLS AND TEAMS FROM ACROSS THE STATE AND AROUND THE WORLD PARTICIPATE. SOME EXAMPLES OF HOW THE SCHOOL SHARES ITS RESOURCES INCLUDE: THE 'IOLANI CLASSIC BASKETBALL TOURNAMENT, STATE FORENSICS TOURNAMENT, 'IOLANI INVITATIONAL CROSS COUNTRY MEET, HAWAII EDUCATIONAL SUMMIT, AND MANY MORE. 2162992 COLLEGE COUNSELING 2162992 52874891 true true false false false false false false false true true false false false true true false true true false false false false false true false false false true true false false false false false false true false true true false false true true true true false false true 111 0 true 1010 true true true false false false false true true false false false false X 23 22 true false false false false false false true true false false true true true true true true true false false HI X WEI LEE-YONAMINE 8089495355 563 KAMOKU STREET HONOLULU HI 96826 X Timothy R Cottrell Head of School, Ex Officio 40.0 0.0 X X 438455 0 186352 Lisa MK Sakamoto Board of Governors Treasurer 1.0 0.0 X X 0 0 0 Jenai S Wall Board of Governors Chair 1.0 0.0 X X 0 0 0 Mark M Mugiishi Board of Governors Vice Chair 1.0 0.0 X X 0 0 0 Steven C Ai Board of Governors Secretary 1.0 0.0 X X 0 0 0 John C Dean Jr Member of Board of Governors 1.0 0.0 X 0 0 0 Thomas B Fargo Member of Board of Governors 1.0 0.0 X 0 0 0 David C Hulihee Member of Board of Governors 1.0 0.0 X 0 0 0 Melvin Kaneshige Member of Board of Governors 1.0 0.0 X 0 0 0 Whitney Limm Member of Board of Governors 1.0 0.0 X 0 0 0 Bill D Mills Member of Board of Governors 1.0 0.0 X 0 0 0 Calvin S Oishi Member of Board of Governors 1.0 0.0 X 0 0 0 Raymond Ono Member of Board of Governors 1.0 0.0 X 0 0 0 Takeshi Saeki Member of Board of Governors 1.0 0.0 X 0 0 0 Russel K Saito Member of Board of Governors 1.0 0.0 X 0 0 0 Jodi Shin Yamamoto Member of Board of Governors 1.0 0.0 X 0 0 0 Kent Tsukamoto Member of Board of Governors 1.0 0.0 X 0 0 0 Robert W Wo Member of Board of Governors 1.0 0.0 X 0 0 0 Emelda Wong Trainor Member of Board of Governors 1.0 0.0 X 0 0 0 Mark H Yamakawa Member of Board of Governors 1.0 0.0 X 0 0 0 Russell Yamamoto Member of Board of Governors 1.0 0.0 X 0 0 0 Right Rev Robert L Fitzpatrick Ex Officio Mbr Board of Gov 1.0 0.0 X 0 0 0 Ben Kashiwabara Ex Officio Mbr Board of Gov 1.0 0.0 X 0 0 0 Tyler Kimura Ex Officio Mbr Board of Gov 1.0 0.0 X 0 0 0 Karen L Neitzel Associate Head of School 40.0 0.0 X 211010 0 33547 Reid Gushiken Chief Financial Officer 40.0 0.0 X 183344 0 58353 Kimberly Hagi Executive Dir. Of Advancement 40.0 0.0 X 177732 0 59069 Linda B Look Dean of Lower School 40.0 0.0 X 157609 0 16462 Aster Chin Dean of Upper School 40.0 0.0 X 167169 0 57266 Carey S Inouye Faculty/Department Head 40.0 0.0 X 152373 0 16115 Deborah C Hall Faculty 40.0 0.0 X 135353 0 20152 1623045 0 447316 41 false true false Thompson Matheny 312 Kealahou Street Honolulu HI 96825 PROJECT MANAGEMENT 294513 Adams Miyashiro Krek 900 Fort Street Mall Suite 1700 Honolulu HI 96813 Attorney 115380 KPMG LLP 1003 Bishop Street Suite 2100 Honolulu HI 96813 Accounting services 111395 Marcus Associates Inc 1045 Mapunapuna Street Honolulu HI 96819 Property management 110558 4 269841 37725 6172013 2747746 6479579 TUITION & FEES 611600 44741332 44741332 SUMMER SCHOOL 611600 2656551 2656551 SPECIAL PROGRAMS 611600 621699 621699 ATHLETIC/FACILITY USAGE 611600 152775 152775 48172357 4718715 4718715 0 0 2065994 2392673 -326679 0 -326679 -326679 106639351 715788 95298620 1051650 11340731 -335862 11004869 11004869 747464 269841 600169 147295 147295 0 0 0 235687 212603 23084 23084 CAFETERIA 900099 97493 97493 AUXILIARY INCOME 900099 24400 24400 FORFEITURES AND RECOVERIES 900099 19923 19923 55919 55919 197735 70416955 48172357 15765019 0 4860214 4860214 0 0 1096236 199114 698008 199114 0 27793247 25551207 1142992 1099048 2356619 1791321 564378 920 5807648 5479965 31396 296287 2293559 1825337 467058 1164 0 119249 119249 85385 85385 0 0 383504 383504 246767 246767 135555 134789 766 3423388 2403455 708694 311239 487607 484586 3021 0 2950165 2888445 31160 30560 499182 294546 183481 21155 0 0 321407 292046 26271 3090 0 4531461 4393835 68813 68813 1006472 985616 10428 10428 STUDENT ACTIVITIES 511476 511476 ENTERTAINMENT 440059 47523 156372 236164 MEMBERSHIP DUES 373776 255952 102372 15452 TRANSPORTATION 217835 217691 72 72 582484 392562 122001 67921 60523295 52874891 5283190 2365214 1300 2300 4185305 6448419 3881008 3159572 106887 279901 0 0 0 0 0 0 119503 140221 1082447 1173440 163428890 67256366 87396522 96172524 189044989 201519978 0 0 0 0 0 0 2380558 2928747 288198519 311825102 5251100 7846771 0 0 3460820 3455239 0 0 0 0 0 0 32729090 44430895 0 0 10797502 8894652 52238512 64627557 X 184330793 191195849 26493894 29985674 25135320 26016022 235960007 247197545 288198519 311825102 X 9893660 1044278 299600 X false true X true false X 3700403 3415991 3473465 9641288 6479579 26710726 0 0 3700403 3415991 3473465 9641288 6479579 26710726 504620 26206106 6437414 6727130 6852012 6709773 6784709 33511038 0 796652 801721 977386 980017 847706 4403482 64625246 219932882 0.40551 0.38310 X 174302570 883207 16379075 8228438 183336414 158622451 2282754 21741319 8343954 174302570 163340223 494292 2859513 8071577 158622451 166302970 1142105 3311733 7416585 163340223 144289471 585280 27455277 6027058 166302970 0.77764 0.14190 0.08045 false false 25471405 25471405 91023060 37535446 53487614 46934425 29720920 17213505 0 0 96172524 0 STUDENT DEPOSITS 945432 OBLIGATION INTEREST RATE SWAP 713738 DEPOSITS HELD FOR OTHERS 1870672 ACCRUED POSTRETIREMENT HEALTH 3980122 CAPITAL LEASE OBLIGATIONS 1384688 8894652 X 67149364 1343878 62390 569859 1976127 65173237 383504 4860214 5243718 70416955 55911826 62390 569859 632249 55279577 383504 4860214 5243718 60523295 INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS FORM 990, SCHEDULE D, PART V, LINE 4 THE PRIMARY PURPOSE OF THE ENDOWMENT FUNDS FOR 'IOLANI SCHOOL IS TO PROVIDE FINANCIAL SUPPORT FOR SCHOOL OPERATIONS AND TO PROVIDE NEED-BASED SCHOLARSHIPS AND FINANCIAL AID. ORGANIZATION'S LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FIN 48 SCHEDULE D, PART X, LINE 2 THE SCHOOL AND BUILDING FUTURES LLC RECOGNIZE THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. NO INCOME TAX PROVISION HAS BEEN RECORDED AS THE NET INCOME, IF ANY, FROM ANY UNRELATED TRADE OR BUSINESS, IN THE OPINION OF MANAGEMENT, IS NOT MATERIAL TO THE BASIC CONSOLIDATED FINANCIAL STATEMENTS TAKEN AS A WHOLE. REVENUE ON FINANCIAL STATEMENT NOT INCLUDED ON TAX RETURN SCHEDULE D, PART XI, LINE 2D $ 212,603 - BOOKSTORE EXPENSES REPORTED NET ON 990 AND GROSS ON FINANCIAL STATEMENTS $ 129,579 - RENTAL EXPENSES REPORTED NET ON 990 AND GROSS ON FINANCIAL STATEMENTS $ 227,677 - ASSET GAIN/LOSS REPORTED ON 990 AND GROSS ON FINANCIAL STATEMENTS ----------- $ 569,859 REVENUE ON TAX RETURN NOT INCLUDED ON FINANCIAL STATEMENTS SCHEDULE D, PART XI, LINE 4B $ 4,860,214 - FINANCIAL AID EXPENSES are REPORTED GROSS ON 990 AND NET ON FINANCIAL STATEMENTS EXPENSE ON FINANCIAL STATEMENTS NOT INCLUDED ON TAX RETURN SCHEDULE D, PART XII, LINE 2D $ 212,603 - BOOKSTORE EXPENSES REPORTED NET ON 990 AND GROSS ON FINANCIAL STATEMENTS $ 129,579 -RENTAL EXPENSES REPORTED NET ON 990 AND GROSS ON FINANCIAL STATEMENTS $ 227,677 -ASSET GAIN/LOSS REPORTED ON 990 AND GROSS ON FINANCIAL STATEMENTS ----------- $ 569,859 EXPENSE ON TAX RETURN NOT ON FINANCIAL STATEMENTS SCHEDULE D, PART XII, LINE 4B $ 4,860,214 - FINANCIAL AID EXPENSES ARE REPORTED GROSS ON 990 AND NET ON FINANCIAL STATEMENTS true true true true true true true false false false false false false false false false false true PUBLICATION OF RACIALLY NONDISCRIMINATORY POLICY FORM 990, SCHEDULE E, LINE 3 PERIODIC NEWSPAPER ADVERTISEMENTS STATING NON-DISCRIMINATORY POLICY OF THE SCHOOL. FAMILY FAIR 754877 208581 546296 2100 30156 64114 6396 304871 TOUCH OF IOLANI 202548 42075 160473 11083 54614 78759 1 59880 19185 40695 1200 10681 13038 17605 5552 1017305 269841 747464 3300 40837 24121 136333 6396 389182 600169 147295 true SCHOLARSHIPS 468 4860214 N/A NONE PROCEDURES FOR MONITORING USE OF GRANT FUNDS FORM 990, SCHEDULE I, PART I, LINE 2 GRANT FUNDS CONSIST ALMOST ENTIRELY OF SCHOLARSHIPS AND FINANCIAL AID, WHICH ARE GIVEN TO STUDENTS WHOSE FAMILIES DEMONSTRATE FINANCIAL NEED. SCHOLARSHIPS & FINANCIAL AID ARE USED BY STUDENTS IN ORDER TO DEFRAY THE COST OF TUITION, BOOKS, AND OTHER NECESSARY SCHOOL SUPPLIES. X X X X true true X X X X X false false false false false false false false false Timothy R Cottrell Head of School, Ex Officio 355250 0 35000 0 48205 0 27000 0 159352 0 624807 0 0 0 Karen L Neitzel Associate Head of School 211010 0 0 0 0 0 21429 0 12118 0 244557 0 0 0 Reid Gushiken Chief Financial Officer 183344 0 0 0 0 0 18855 0 39498 0 241697 0 0 0 Kimberly Hagi Executive Dir. Of Advancement 177732 0 0 0 0 0 18844 0 40225 0 236801 0 0 0 Linda B Look Dean of Lower School 157609 0 0 0 0 0 15682 0 780 0 174071 0 0 0 Aster Chin Dean of Upper School 167169 0 0 0 0 0 17767 0 39499 0 224435 0 0 0 Carey S Inouye Faculty/Department Head 152373 0 0 0 0 0 15085 0 1030 0 168488 0 0 0 Deborah C Hall Faculty 135353 0 0 0 0 0 13609 0 6543 0 155505 0 0 0 COMPENSATION EXPENSE FORM 990, SCHEDULE J, PART I, LINE 1A Residence for Personal Use The Head of School resides in employer-provided housing off campus as a condition of employment and hosts numerous school events at the residence. As such, this benefit was treated as A nontaxable working condition fringe benefit and is not treated as taxable compensation. The value of the nontaxable benefit is included in Part II, column (d). Personal Services The Head of Schools off-campus residence that is used for hosting school events and activities is MAINTAINED on a regular basis PRIMARILY by the employees of the school. This benefit is treated as nontaxable compensation. The value of this nontaxable benefit is included in Part II, column (d). Social Club Dues or Initiation Fees The Head of School is provided access to a social club membership for the business purpose of cultivating donor relationships. However, they also have access to the club for personal use. This benefit is included in the Head of School's taxable wages. Gross-up Payments The Head of School is provided a tuition remission benefit that is included in his taxable wages and is grossed-up by the school. FORM 990, SCHEDULE J, PART I, LINE 3 COMPENSATION COMMITTEE 'IOLANI DOES NOT HAVE A SEPARATE COMPENSATION COMMITTEE TO DETERMINE COMPENSATION. THE DUTIES OF A COMPENSATION COMMITTEE ARE PERFORMED BY 'IOLANI'S EXECUTIVE COMMITTEE. ERIK YAMAMOTO FAMILY MEMBER OF TRUSTEE 118523 SEE SCHEDULE L DISCLOSURE false BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS SCHEDULE L, PART IV, COLUMN (D) THE PAYMENTS NOTED ABOVE REPRESENT COMPENSATION PAID BY THE ORGANIZATION TO FAMILY MEMBERS OF INTERESTED PERSONS FOR SERVICES RENDERED TO THE ORGANIZATION. PAYMENT AMOUNTS WERE DETERMINED BY INDIVIDUALS WITHOUT A CONFLICT OF INTEREST WITH RESPECT TO THE TRANSACTION, AND ANY INTERESTED PERSONS RECUSED THEMSELVES IN ACCORDANCE WITH THE CONFLICT OF INTEREST POLICY. RUSSELL YAMAMOTO: MR. YAMAMOTO'S SON, ERIK YAMAMOTO, RECEIVED COMPENSATION FROM THE SCHOOL FOR SERVICES AS THE CO-DIRECTOR OF SPECIAL PROGRAMS IN 2016-17 AND DEAN OF STUDENTS IN 2017-18. X 6 8306 REPLACEMENT COST X 1909 REPLACEMENT COST X 55129 REPLACEMENT COST X 61 2627594 AVG MARKET PRICE X 1 350 REPLACEMENT COST X 20 12278 REPLACEMENT COST X JEWELRY 3 726 REPLACEMENT COST X GIFT CERTIFICATES 114 31139 REPLACEMENT COST X SPORTS GEAR 2 2861 REPLACEMENT COST X MUSICAL INSTRUMENTS 1 800 REPLACEMENT COST X PLANTS 11 6654 REPLACEMENT COST false true false REPORTING NONCASH DONATIONS SCHEDULE M, PART I, COLUMN B THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED IN COLUMN B OF SCHEDULE M. FOR GIFTS OF SECURITIES, EACH SEPARATE GIFT IS TREATED AS A SINGLE CONTRIBUTION FOR PURPOSES OF COLUMN B. METHOD OF DETERMINING REVENUES SCHEDULE M, PART I, COLUMN D CONTRIBUTED PROPERTY IS RECORDED AS INCOME AT THE FAIR VALUE OF THE PROPERTY ON THE DATE OF DONATION. THE FAIR VALUE OF PUBLICLY TRADED SECURITIES IS BASED ON AVERAGE MARKET PRICES. Part I, Line 7b This line amount includes the 512(a)(7) amounts that are not considered revenue and, therefore, not reported as such on Form 990. RELATIONSHIPS BETWEEN OFFICERS, DIRECTORS, KEY EMPLOYEES, and trustees FORM 990, PART VI, SECTION A, LINE 2 DAVID HULIHEE AND JENAI WALL, MEMBERS OF THE BOARD OF GOVERNORS, HAVE A BUSINESS RELATIONSHIP. MARK MUGIISHI AND LISA SAKAMOTO, MEMBERS OF THE BOARD OF GOVERNORS, HAVE A BUSINESS RELATIONSHIP. REVIEW PROCESS FOR FORM 990 FORM 990, PART VI, SECTION B, LINE 11 The organizations chief financial officer and controller work closely with the external accounting firm it engages to prepare and review the form 990. In addition, the draft is reviewed and approved by the finance committee before it is forwarded to the full board of governors before it is filed with the IRS. CONFLICTS OF INTEREST POLICY Form 990, Part VI, Section B, Line 12C The Chair & Executive Committee of the Board ARE charged with monitoring proposed or ongoing transactions for conflicts of interest and addressing any potential or actual conflicts. Pursuant to the Conflicts of Interest Policy, an annual conflict of interest questionnaire, 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 and 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: (1) has received a copy of the Conflicts oF Interest Policy; (2) has read the Policy and understands said Policy; and (3) agrees to comply with all requirements of the Policy, including completing the conflicts of interest questionnaire. ALL CONFLICTS OF INTEREST ARE: (1) fully disclosed to the Board or Chair; AND (2) the person with the conflict of interest is excluded from voting on ANY MATTERS INVOLVING THE CONFLICT. COMPENSATION DETERMINATION - TOP MANAGEMENT OFFICIAL FORM 990, PART VI, SECTION B, LINE 15A TO DETERMINE THE COMPENSATION OF THE HEAD OF SCHOOL The Executive Committee (the Committee), comprised of active board members NONE whom have conflicts-of-interest with each other or with the head of school, is tasked with reviewing the compensation package for the Head of School. Evaluation as to the Head OF SCHOOL's annual performance includeS a review of the Head OF SCHOOL'S job description as contained in the bylaws adopted by the Board of Governors. In addition to the duties as described in the Bylaws, the Committee CONSIDERS performance objectives set forth by the Board Chair in conjunction with the Head OF SCHOOL. THE Head of School'S performance review IS conducted AT LEAST annually. THe Committee may APPROVE an adjustment in compensation and/or granting of benefits BASED ON THE RESULTS OF THE PERFORMANCE REVIEW. The Executive Committee will UTILIZE comparable compensation survey results conducted by NAIS, Guidestar, or any other source of compensation information relevant and comparable to Head of School compensation TO ASSIST WITH ASSESSMENT OF A FAIR AND REASONABLE COMPENSATION PACKAGE. THE MOST RECENT COMPARABILITY STUDY PERFORMED FOR THE HEAD OF SCHOOL FOR THE FISCAL YEAR ENDING JUNE, 30, 2018 WAS PERFORMED IN JANUARY 2018. Results of the evaluation ARE reported to the Board by the Chair of the Committee in closed session with separate minutes taken. Upon completion of THE Head OF SCHOOL'S evaluation and compensation REVIEW, the Board Chair will issue to the CHIEF FINANCIAL OFFICER, written information pertaining to the head of school's compensation package, including the effective date and any conditions or future benefits granted. THE EXECUTIVE COMMITTEE DOCUMENTS THE BASIS FOR ITS DECISION IN ITS COMMITTEE MINUTES WHICH DESCRIBE 1) THE TERMS OF THE COMPENSATION PACKAGE AND DATE OF APPROVAL; 2) COMMITTEE MEMBERS PRESENT AT MEETING AND HOW THEY VOTED; 3) THE SOURCE AND SUBSTANCE OF DATA RELIED ON AND WHY IT IS COMPARABLE; 4) ANY DISCLOSURES OF CONFLICTS-OF-INTEREST; AND 5) THE REASONS IF THE APPROVED COMPENSATION IS BELOW OR ABOVE COMPARABLES. COMPENSATION - OFFICERS & KEY EMPLOYEES FORM 990, PART VI, SECTION B, LINE 15B CHIEF FINANCIAL OFFICER THE BOARD CHAIR AND THE SEARCH COMMITTEE, ALL OF WHOM DO NOT HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION AGREEMENT, ESTABLISHED THE CHIEF FINANCIAL OFFICER'S INITIAL COMPENSATION PACKAGE BASED ON NUMEROUS FACTORS, INCLUDING COMPARABLE MARKET DATA, THE DUTIES AND RESPONSIBILITIES OF THE POSITION, AND REID GUSHIKEN'S BACKGROUND AND EXPERIENCE. FOR GUIDANCE, THE BOARD CHAIR AND THE SEARCH COMMITTEE CONSIDERED COMPARABLE COMPENSATION SURVEY RESULTS CONDUCTED BY NAIS, GUIDESTAR, AND OTHER SOURCES OF COMPENSATION INFORMATION RELEVANT AND COMPARABLE TO OTHER CHIEF FINANCIAL OFFICERS AT PEER INSTITUTIONS. NO COMPARABILITY STUDY WAS PERFORMED FOR FYE 6/30/2018; HOWEVER, COMPENSATION WAS DETERMINED BY A BOARD-APPROVED PERCENTAGE INCREASE. OTHER KEY EMPLOYEES Initial recommended compensation of key employees will be included in the budget parameters set by the Chief Financial Officer who then submits it to the Head of School for consideration. Recommended compensation of key employees is validated by the head of School based on their job performance and comparable compensation information provided by NAIS, Guidestar, or any other source of compensation information relevant and comparable to the duties or job descriptionS of key employeeS. The reason for any key employee compensation which is not comparable or provides excess benefitS will be reported to the Board Chair. There were no instances of excess benefits reported during the fiscal year ended June 30, 2018.The budget presented to the Finance Committee and subsequently to the Board will include applicable key employee compensation determined by the Head of School and Chief Financial Officer whose conflicts-of-interest, if any, are disclosed to the Board. Any key employee compensation which is not within comparable parameters, or provides for excess benefitS, will be disclosed to the Board during the budget approval process. There were no instances of excess benefits reported during the fiscal year ended June 30, 2018. INFORMATION AVAILABLE TO PUBLIC FORM 990, PART VI, SECTION C, LINE 19 Federal tax laws do not mandate that the organization's governing documents, conflict of interest policy and financial statements be made available for public inspection. OTHER CHANGES IN NET ASSETS FORM 990, PART IX, LINE 9 Unrealized GAIN on INTEREST RATE SWAP 299,600 BUILDING FUTURES LLC 563 KAMOKU STREET HONOLULU HI 96826 264097997 REAL ESTATE HI 238477 25907475 IOLANI SCH H&M MIST TRUST PO BOX 3170 DEPT 715 HONOLULU HI 968023170 990259507 CHAR. 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