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← KAPALUA RESORT ASSOCIATION

Form 990 for tax year 2023

Filed by KAPALUA RESORT ASSOCIATION.

Totals

Total revenue
$2,691,252
Total expenses
$2,840,533
Contributions and grants received
$0
Grants paid
$398,000
Program service revenue
$2,639,750
Investment income
$13,653
Other revenue
$37,849
Total assets, end of year
$2,918,394
Total liabilities, end of year
$530,125
Net assets or fund balances, end of year
$2,388,269
Program services expenses (Part IX)
$2,784,838
Management and general expenses
$55,695
Fundraising expenses
$0
Program service expenses (Part III)
$2,784,838

Program services were 98.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: MEMBER ASSESSMENTS

    total $2,277,622 · related or exempt $2,277,622

  • 2b · Program service revenue: RESERVE ASSESSMENTS

    total $186,758 · related or exempt $186,758

  • 2c · Program service revenue: ENHANCEMENT

    total $175,370 · related or exempt $175,370

  • 3 · Investment income

    total $13,653 · excluded $13,653

  • 11a · Other revenue: OTHER INCOME

    total $37,849 · excluded $37,849

  • 11e · Other revenue, total

    $37,849

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $398,000 · program services $398,000

  • 5 · Compensation of officers, directors and key employees

    total $109,408 · program services $92,997 · management and general $16,411

  • 10 · Payroll taxes

    total $9,991 · program services $8,492 · management and general $1,499

  • 11b · Fees: legal

    total $14,193 · program services $12,064 · management and general $2,129

  • 11c · Fees: accounting

    total $59,321 · program services $50,423 · management and general $8,898

  • 11g · Fees: other

    total $96,619 · program services $93,440 · management and general $3,179

  • 12 · Advertising and promotion

    total $28,854 · program services $28,854

  • 13 · Office expenses

    total $10,501 · program services $8,926 · management and general $1,575

  • 14 · Information technology

    total $1,108 · program services $942 · management and general $166

  • 16 · Occupancy

    total $169,899 · program services $169,899

  • 22 · Depreciation, depletion and amortization

    total $19,334 · management and general $19,334

  • 23 · Insurance

    total $16,691 · program services $14,187 · management and general $2,504

  • 24a · Other expenses: LANDSCAPING

    total $766,194 · program services $766,194

  • 24b · Other expenses: SHUTTLE SERVICE

    total $567,471 · program services $567,471

  • 24c · Other expenses: SECURITY

    total $352,789 · program services $352,789

  • 24d · Other expenses: RESERVE EXPENSES

    total $200,265 · program services $200,265

  • 24e · All other expenses

    total $19,895 · program services $19,895

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $866,310 · end of year $456,511

  • 2 · Savings and temporary cash investments

    beginning of year $620,910 · end of year $794,551

  • 4 · Accounts receivable

    beginning of year $107,701 · end of year $22,113

  • 9 · Prepaid expenses and deferred charges

    beginning of year $31,396 · end of year $99,754

  • 10a · Land, buildings and equipment: cost or other basis

    $580,010

  • 10b · Land, buildings and equipment: accumulated depreciation

    $87,921

  • 10c · Land, buildings and equipment, net

    beginning of year $511,423 · end of year $492,089

  • 11 · Investments: publicly traded securities

    beginning of year $1,008,542 · end of year $1,053,376

  • 17 · Accounts payable and accrued expenses

    beginning of year $187,704 · end of year $46,231

  • 25 · Other liabilities

    beginning of year $465,862 · end of year $483,894

  • 31 · Retained earnings, endowment or other funds

    beginning of year $2,492,716 · end of year $2,388,269

Mission and programs · 2023

Mission

TO PROVIDE FOR THE MANAGEMENT, MAINTENANCE, PROTECTION, PRESERVATION, AND ARCHITECTURAL CONTROL OF THE REAL PROPERTY KNOWN AS THE KAPALUA RESORT, AND TO PROMOTE THE HEALTH, SAFETY, AND WELFARE OF ITS MEMBERS.

  • KAPALUA RESORT ASSOCIATION MAINTAINS AND PROTECTS THE COMMON ELEMENTS, AND PROVIDES SECURITY AND SHUTTLE SERVICES FOR THE ASSOCIATION. THE ORGANIZATION SEEKS TO BUILD AND MAINTAIN A COMMUNITY AND A SENSE OF PLACE.

    Expenses $2,784,838 · Grants $398,000 · Revenue $2,639,750

As filed on the 2023 return.

Listed in Part VII

  • Peter Laszlo

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Alex Nakajima

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    1

  • Al Haar

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • John Tolbert

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Race Randle

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Frank Viola

    ASSOCIATION

    Total calculated
    $109,408
    From this org
    $109,408
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.0
Source object
202423189349300642

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