Skip to content
Nonprofiteer
← HAWAII PREPARATORY ACADEMY

Form 990 for tax year 2024

Filed by HAWAII PREPARATORY ACADEMY.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2024 , filed 26 February 2026. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$468,633 changed to $35,530,966
Total expenses
$1,357,591 changed to $32,604,165
Contributions and grants received
$52,604 changed to $3,750,293
Grants paid
$0 changed to $4,555,626
Program service revenue
$204,355 changed to $27,508,730
Investment income
$208,973 changed to $3,883,546
Other revenue
$2,701 changed to $388,397
Total assets, end of year
$156,257,122 changed to $161,583,035
Total liabilities, end of year
$19,362,463 changed to $18,789,642
Net assets or fund balances, end of year
$136,894,659 changed to $142,793,393
Program services expenses
$912,749 changed to $26,472,536
Management and general expenses
$385,879 changed to $5,275,792
Fundraising expenses
$58,963 changed to $855,837
Program service expenses (Part III)
$912,749 changed to $26,472,536

Listed only on the later return

  • Dora W Kwong
  • Hannah Candelario
  • John K Spencer
  • Mark A Noetzel
  • Mike Hoover
  • Taffi Wise
  • Tiare Hj Police

Listed under a different title

  • Rob O'Donohue: BOARD MEMBER then FORMER BOARD MEMBER

Totals

Total revenue
$468,633
Total expenses
$1,357,591
Contributions and grants received
$52,604
Grants paid
$0
Program service revenue
$204,355
Investment income
$208,973
Other revenue
$2,701
Total assets, end of year
$156,257,122
Total liabilities, end of year
$19,362,463
Net assets or fund balances, end of year
$136,894,659
Program services expenses (Part IX)
$912,749
Management and general expenses
$385,879
Fundraising expenses
$58,963
Program service expenses (Part III)
$912,749

Program services were 67.2% 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.

  • 1f · All other contributions, gifts and grants

    $52,604

  • 2a · Program service revenue: SPECIAL EVENTS

    total $161,755 · related or exempt $161,755

  • 2b · Program service revenue: TUITION AND FEES

    total $42,600 · related or exempt $42,600

  • 3 · Investment income

    total $176,189 · excluded $176,189

  • 7a · Gross sales of assets other than inventory

    securities $147,588

  • 7b · Less cost or other basis and sales expenses

    securities $114,804

  • 7c · Gain or loss

    securities $32,784

  • 7d · Net gain or loss

    total $32,784 · excluded $32,784

  • 10a · Gross sales of inventory

    $2,198

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $2,198 · related or exempt $2,198

  • 11a · Other revenue: ISAACS ART GALLERY

    total $503 · unrelated business $503

  • 11e · Other revenue, total

    $503

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $45,300 · program services $13,590 · management and general $27,180 · fundraising $4,530

  • 7 · Other salaries and wages

    total $394,339 · program services $257,062 · management and general $103,356 · fundraising $33,921

  • 8 · Pension plan contributions

    total $80,791 · program services $65,341 · management and general $13,294 · fundraising $2,156

  • 9 · Other employee benefits

    total $34,778 · program services $15,405 · management and general $13,970 · fundraising $5,403

  • 10 · Payroll taxes

    total $67,621 · program services $53,464 · management and general $11,276 · fundraising $2,881

  • 11b · Fees: legal

    total $5,424 · management and general $5,424

  • 11c · Fees: accounting

    total $7,460 · management and general $7,460

  • 11f · Fees: investment management

    total $13,426 · management and general $13,426

  • 11g · Fees: other

    total $9,684 · program services $1,812 · management and general $7,872

  • 12 · Advertising and promotion

    total $8,152 · program services $2,984 · management and general $4,316 · fundraising $852

  • 13 · Office expenses

    total $102,534 · program services $30,171 · management and general $69,717 · fundraising $2,646

  • 16 · Occupancy

    total $193,549 · program services $184,567 · management and general $7,613 · fundraising $1,369

  • 17 · Travel

    total $7,052 · program services $99 · management and general $6,424 · fundraising $529

  • 19 · Conferences, conventions and meetings

    total $26,502 · management and general $26,502

  • 20 · Interest

    total $5,370 · management and general $5,370

  • 22 · Depreciation, depletion and amortization

    total $119,122 · program services $113,166 · management and general $5,956

  • 24a · Other expenses: FOOD SERVICES

    total $94,631 · program services $94,603 · management and general $28

  • 24b · Other expenses: OTHER EXPENSES

    total $73,431 · program services $12,288 · management and general $56,467 · fundraising $4,676

  • 24c · Other expenses: STUDENT ACTIVITIES

    total $45,603 · program services $45,603

  • 24d · Other expenses: ART CENTER OPERATIONS

    total $22,822 · program services $22,594 · management and general $228

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,367,728 · end of year $777,110

  • 2 · Savings and temporary cash investments

    beginning of year $2,509,721 · end of year $8,059,885

  • 3 · Pledges and grants receivable

    end of year $1,000

  • 4 · Accounts receivable

    beginning of year $97,880 · end of year $452,741

  • 8 · Inventories for sale or use

    beginning of year $2,463,771 · end of year $2,465,203

  • 9 · Prepaid expenses and deferred charges

    beginning of year $209,489 · end of year $432,271

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

    $82,061,734

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

    $31,321,466

  • 10c · Land, buildings and equipment, net

    beginning of year $50,593,402 · end of year $50,740,268

  • 11 · Investments: publicly traded securities

    beginning of year $28,920,513 · end of year $29,409,279

  • 15 · Other assets

    beginning of year $64,485,223 · end of year $63,919,365

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,830,260 · end of year $2,406,573

  • 19 · Deferred revenue

    beginning of year $7,027,686 · end of year $14,434,079

  • 23 · Secured mortgages and notes payable

    beginning of year $2,555,133 · end of year $2,521,811

  • 27 · Net assets without donor restrictions

    beginning of year $44,828,166 · end of year $49,973,995

  • 28 · Net assets with donor restrictions

    beginning of year $93,406,482 · end of year $86,920,664

Mission and programs · 2024

Mission

TO PROVIDE EXCEPTIONAL LEARNING OPPORTUNITIES IN A DIVERSE COMMUNITY HONORING THE TRADITIONS OF HAWAII. SEE SCHEDULE O.

Activities or mission (Part I)

TO PROVIDE EXCEPTIONAL LEARNING OPPORTUNITIES IN A DIVERSE COMMUNITY HONORING THE TRADITIONS OF HAWAII.

  • K-12 EDUCATIONAL PROGRAM - PROVIDES EDUCATION FOR APPROXIMATELY 600 STUDENTS FROM KINDERGARTEN TO GRADE 12

    Expenses $912,749 · Revenue $206,553

As filed on the 2024 return.

Listed in Part VII

  • Robert Budway

    PRESIDENT/BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Bonnie Wedemeyer

    FIRST VP/BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Laurie T Ainslie

    TREASURER/BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Michael J Chun

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Warren Doi

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Rob O'Donohue

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Hans Lorange

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Sam Pratt

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • William D Pratt

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Michael S Spalding

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Max Unger

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • S Fred Wawner

    SECOND VP & HEAD OF SCHOOL

    Total calculated
    $0
    Hours/week
    40

  • Brian Pearson

    ASST HEAD OF SCHOOL FOR BUSINESS OPS

    Total calculated
    $0
    Hours/week
    40

  • Katherine Purdy

    ASSISTANT SECRETARY

    Total calculated
    $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.

Schedule J

Answered yes

  • 1a · Discretionary spending account
  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE HEAD OF SCHOOL RESIDES ON CAMPUS AS A CONDITION OF EMPLOYMENT.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
8 April 2025
IRS schema version
2024v5.1
Source object
202510989349300406

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.