Form 990 for tax year 2022

Filed by IOLANI SCHOOL.

Totals

Total revenue: $99,292,108
Total expenses: $87,484,359
Contributions and grants received: $15,231,617
Grants paid: $7,566,970
Program service revenue: $67,609,835
Investment income: $7,035,818
Other revenue: $9,414,838
Total assets, end of year: $419,655,758
Total liabilities, end of year: $111,517,560
Net assets or fund balances, end of year: $308,138,198
Program services expenses (Part IX): $76,248,180
Management and general expenses: $8,183,756
Fundraising expenses: $3,052,423
Program service expenses (Part III): $76,248,180

Program services were 87.2% 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.

1c · Fundraising events

$190,699
1d · Related organizations

$47,000
1f · All other contributions, gifts and grants

$14,993,918
1g · Noncash contributions included above

$3,602,989
2a · Program service revenue: TUITION & FEES

total $63,724,289 · related or exempt $63,724,289
2b · Program service revenue: SUMMER SCHOOL

total $2,090,805 · related or exempt $2,090,805
2c · Program service revenue: SPECIAL PROGRAMS

total $1,685,606 · related or exempt $1,685,606
2d · Program service revenue: ATHLETIC/FACILITY USAG

total $109,135 · related or exempt $109,135
3 · Investment income

total $5,129,379 · excluded $5,129,379
6a · Gross rents

real property $1,402,965
6b · Less rental expenses

real property $1,648,554
6c · Rental income or loss

real property -$245,589
6d · Net rental income or loss

total -$245,589 · excluded -$245,589
7a · Gross sales of assets other than inventory

securities $59,119,680 · other assets $377,932
7b · Less cost or other basis and sales expenses

securities $57,531,159 · other assets $60,014
7c · Gain or loss

securities $1,588,521 · other assets $317,918
7d · Net gain or loss

total $1,906,439 · excluded $1,906,439
8a · Fundraising events: gross income

$1,220,171
8a · Fundraising events: contributions included on line 1c

$190,699
8b · Fundraising events: direct expenses

$618,804
8c · Net income from fundraising events

total $601,367 · excluded $601,367
10a · Gross sales of inventory

$263,842
10b · Cost of goods sold

$203,164
10c · Net income from sales of inventory

total $60,678 · excluded $60,678
11a · Other revenue: ERC REVENUE

total $8,814,207 · excluded $8,814,207
11b · Other revenue: CAFETERIA

total $101,367 · excluded $101,367
11c · Other revenue: CREDIT CARD REBATE

total $50,366 · excluded $50,366
11d · All other revenue

total $32,442 · excluded $32,442
11e · Other revenue, total

$8,998,382

Functional expenses

Part IX, the statement of functional expenses.

2 · Grants to domestic individuals

total $7,566,970 · program services $7,566,970
5 · Compensation of officers, directors and key employees

total $1,188,565 · program services $277,510 · management and general $633,545 · fundraising $277,510
6 · Compensation of disqualified persons

total $247,912 · program services $153,899 · management and general $94,013
7 · Other salaries and wages

total $37,452,729 · program services $33,313,397 · management and general $2,882,055 · fundraising $1,257,277
8 · Pension plan contributions

total $3,096,792 · program services $2,992,589 · management and general $97,206 · fundraising $6,997
9 · Other employee benefits

total $9,566,689 · program services $7,803,901 · management and general $1,075,949 · fundraising $686,839
10 · Payroll taxes

total $3,119,734 · program services $2,400,278 · management and general $717,743 · fundraising $1,713
11b · Fees: legal

total $34,829 · management and general $34,829
11c · Fees: accounting

total $130,578 · management and general $130,578
11f · Fees: investment management

total $448,052 · management and general $448,052
11g · Fees: other

total $239,504 · management and general $239,504
12 · Advertising and promotion

total $169,766 · management and general $169,766
13 · Office expenses

total $5,300,848 · program services $4,537,500 · management and general $461,745 · fundraising $301,603
14 · Information technology

total $824,647 · program services $820,243 · fundraising $4,404
16 · Occupancy

total $4,430,854 · program services $4,349,809 · management and general $40,972 · fundraising $40,073
17 · Travel

total $853,347 · program services $624,771 · management and general $210,304 · fundraising $18,272
20 · Interest

total $1,473,382 · program services $1,254,152 · management and general $207,676 · fundraising $11,554
22 · Depreciation, depletion and amortization

total $6,024,100 · program services $5,869,835 · management and general $77,132 · fundraising $77,133
23 · Insurance

total $1,896,365 · program services $1,862,310 · management and general $17,027 · fundraising $17,028
24a · Other expenses: STUDENT ACTIVITIES

total $1,273,132 · program services $1,273,132
24b · Other expenses: ENTERTAINMENT

total $588,125 · program services $129,179 · management and general $197,670 · fundraising $261,276
24c · Other expenses: AFTER SCHOOL ENRICHMENT

total $255,346 · program services $255,346
24d · Other expenses: MEMBERSHIP DUES

total $209,009 · program services $20,493 · management and general $139,834 · fundraising $48,682
24e · All other expenses

total $1,093,084 · program services $742,866 · management and general $308,156 · fundraising $42,062

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $1,300 · end of year $1,300
2 · Savings and temporary cash investments

beginning of year $3,032,652 · end of year $4,430,376
3 · Pledges and grants receivable

beginning of year $2,065,374 · end of year $2,167,599
4 · Accounts receivable

beginning of year $108,410 · end of year $333,729
8 · Inventories for sale or use

beginning of year $163,425 · end of year $197,719
9 · Prepaid expenses and deferred charges

beginning of year $1,762,454 · end of year $1,946,459
10a · Land, buildings and equipment: cost or other basis

$222,029,220
10b · Land, buildings and equipment: accumulated depreciation

$89,067,236
10c · Land, buildings and equipment, net

beginning of year $129,711,971 · end of year $132,961,984
11 · Investments: publicly traded securities

beginning of year $213,214,074 · end of year $259,885,951
15 · Other assets

beginning of year $3,489,434 · end of year $17,730,641
17 · Accounts payable and accrued expenses

beginning of year $7,790,691 · end of year $9,199,869
19 · Deferred revenue

beginning of year $4,091,028 · end of year $3,571,429
23 · Secured mortgages and notes payable

beginning of year $56,114,369 · end of year $88,770,756
25 · Other liabilities

beginning of year $10,835,818 · end of year $9,975,506
27 · Net assets without donor restrictions

beginning of year $201,371,762 · end of year $222,314,236
28 · Net assets with donor restrictions

beginning of year $73,345,426 · end of year $85,823,962

Mission and programs · 2022

Mission

SEE SCHEDULE O

Activities or mission (Part I)

TO DEVELOP EDUCATED, WELL-ROUNDED INDIVIDUALS WHO ARE WELL PREPARED FOR COLLEGE.

'IOLANI WAS FOUNDED IN 1863 AFTER KING KAMEHAMEHA IV AND QUEEN EMMA SET OUT TO ESTABLISH AN ANGLICAN CHURCH IN HAWAII. THE SCHOOL WAS 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'S ENROLLMENT HAS GROWN TO APPROXIMATELY 2,200 STUDENTS, WITH ROUGHLY 1,500 IN GRADES 7 - 12.THERE ARE APPROXIMATELY 449 FULL-TIME FACULTY AND STAFF DEDICATED TO STUDENTS FROM DIVERSE BACKGROUNDS ENROLLED IN GRADES K - 12. ROUGHLY 735 PART-TIME OR SEASONAL TEACHERS, AIDES, COACHES, AND STAFF SUPPLEMENT THE SCHOOL'S EXPANSIVE AFTER-SCHOOL, SUMMER, PERFORMINGARTS, ATHLETIC AND EXTRACURRICULAR PROGRAMS. 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 EFFECTIVEPEDAGOGIES.'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.'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 SUMMER OF 2019, THE SCHOOL'S KA'I PROGRAM CELEBRATED ITS 10TH ANNIVERSARY OF SERVING UNDERPRIVILEGED YOUTH IN NEARBY PALOLO VALLEY. THIS PROGRAM BEGAN AS A SUMMER PROGRAM FOR STUDENTS ATTENDING JARRETT MIDDLE SCHOOL, A PUBLIC SCHOOL IN PALOLO. KA'I NOW INCLUDES A SUMMER DAY CARE PROGRAM, AFTER SCHOOL TUTORING DURING THE REGULAR SCHOOL YEAR, AND POST-SECONDARY EDUCATION SUPPORT.IN 2019, 'IOLANI RECEIVED A PRESTIGIOUS EE FORD FOUNDATION EDUCATIONAL LEADERSHIP GRANT FOR ITS AINA-INFORMATICS NETWORK PROGRAM WHICH AIMS TO PROVIDE SCHOOLS WITH THE TOOLS AND RESOURCES TO TEACH GENOME SCIENCE.IN THE FALL OF 2013, THE SCHOOL OPENED THE 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 ACOMMUNITY RESOURCE FOR VARIOUS LOCAL AND NATIONAL GROUPS.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.A RESIDENTIAL HALL AND BOARDING PROGRAM, WITH A CAPACITY FOR 112 STUDENTS, OPENED IN THE 2018-19 SCHOOL YEAR. THE SCHOOL ALSO OPENED A NEW K - 1 COMMUNITY FEATURING LARGE, OPEN CLASSROOMS AND A NATURAL PLAYGROUND THAT ENCOURAGES IMAGINATION AND CREATIVITY IN THE SUMMER OF 2019. IN THE SUMMER OF 2020, THE SCHOOL OPENED TWO NEW BUILDINGS IN ITS LOWER SCHOOL, INCLUDING EXPANDED LEARNING SPACES FOR SCIENCE, RELIGION, READING, TECHNOLOGY, DANCE, AND MUSIC.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.'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 MATH LEAGUE, SPEECH AND DEBATE, ROBOTICS, MUSIC, ART. NINETY-NINE PERCENT OF SENIORS ATTEND COLLEGE.DURING THE SUMMER, STUDENTS FROM THROUGHOUT THE STATE AND AROUND THE WORLD ENROLL IN CLASSES. 'IOLANI OFFERS AN EXTENSIVE SUMMER AND AFTER SCHOOL PROGRAM WITH REINFORCEMENT, ENRICHMENT, ELECTIVE AND CREDIT COURSES. THE SUMMER OF 2019 WAS THE FIRST SUMMER THAT A RESIDENTIAL PROGRAM WAS OFFERED TO STUDENTS AGES 11 - 17. STUDENTS FROM HAWAII, THE NEIGHBOR ISLANDS, THE U.S. MAINLAND, AND ASIA ATTENDED THE PROGRAM. ALUMNI NOW ATTENDING COLLEGE RETURNED TO LIVE IN THE DORM AND WORK AS RESIDENTIAL ASSISTANTS.'IOLANI SCHOOL IS ACCREDITED BY THE WESTERN ASSOCIATION OF SCHOOLS AND COLLEGES, AND LICENSED BY THE HAWAII COUNCIL OF PRIVATE SCHOOLS.

Expenses $64,765,511 · Grants $7,566,970 · Revenue $63,724,289
'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 2,500 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 AND 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.

Expenses $5,759,373 · Revenue $3,776,411
'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 20 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 GAMES, WHICH SCHOOLS AND TEAMS FROM ACROSS THE STATE AND AROUND THE WORLD PARTICIPATE IN. SOME EXAMPLES OF HOW THE SCHOOL SHARES ITS RESOURCES INCLUDE: THE 'IOLANI CLASSIC BASKETBALL TOURNAMENT, STATE FORENSICSTOURNAMENT, 'IOLANI INVITATIONAL CROSS COUNTRY MEET, HAWAII EDUCATIONAL SUMMIT, AND MANY MORE.

Expenses $3,043,284 · Revenue $109,135
COLLEGE COUNSELING

Expenses $2,680,012

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Timothy R CottrellTIMOTHY R COTTRELL

HEAD OF SCHOOL, EX OFFICIO

Total calculated

$962,307

From this org

$631,526

From related orgs

$0

Other

$330,781

Hours/week

40

Schedule J breakdown matched by us

Base

$431,595

Bonus

$82,500

Other

$117,431

Deferred

$160,500

Nontaxable benefits

$170,281

Filer's total

$962,307
Reid GushikenREID GUSHIKEN

CHIEF FINANCIAL OFFICER

Total calculated

$357,112

From this org

$284,812

From related orgs

$0

Other

$72,300

Hours/week

40

Schedule J breakdown matched by us

Base

$252,902

Bonus

$7,500

Other

$24,410

Deferred

$25,844

Nontaxable benefits

$46,456

Filer's total

$357,112
Aster ChinASTER CHIN

DEAN OF UPPER SCHOOL

Total calculated

$353,127

From this org

$278,779

From related orgs

$0

Other

$74,348

Hours/week

40

Schedule J breakdown matched by us

Base

$271,279

Bonus

$7,500

Other

$0

Deferred

$28,420

Nontaxable benefits

$45,928

Filer's total

$353,127
Kimberly HagiKIMBERLY HAGI

EXECUTIVE DIR. OF ADVANCEMENT

Total calculated

$290,686

From this org

$246,654

From related orgs

$0

Other

$44,032

Hours/week

40

Schedule J breakdown matched by us

Base

$239,154

Bonus

$7,500

Other

$0

Deferred

$24,767

Nontaxable benefits

$19,265

Filer's total

$290,686
Melanie PfingstenMELANIE PFINGSTEN

DEAN OF LOWER SCHOOL

Total calculated

$279,715

From this org

$213,606

From related orgs

$0

Other

$66,109

Hours/week

40

Schedule J breakdown matched by us

Base

$181,631

Bonus

$7,500

Other

$24,475

Deferred

$18,752

Nontaxable benefits

$47,357

Filer's total

$279,715
Kelly MonacoKELLY MONACO

DEAN OF ADMISSION

Total calculated

$262,272

From this org

$208,616

From related orgs

$0

Other

$53,656

Hours/week

40

Schedule J breakdown matched by us

Base

$201,116

Bonus

$7,500

Other

$0

Deferred

$20,300

Nontaxable benefits

$33,356

Filer's total

$262,272
Burl BrownBURL BROWN

DEAN OF OPERATIONAL PROGRAMS

Total calculated

$257,666

From this org

$229,267

From related orgs

$0

Other

$28,399

Hours/week

40

Schedule J breakdown matched by us

Base

$221,767

Bonus

$7,500

Other

$0

Deferred

$22,330

Nontaxable benefits

$6,069

Filer's total

$257,666
Melvin KaneshigeMELVIN KANESHIGE

BOARD OF GOVERNORS VICE CHAIR

Total calculated

$0

Hours/week

1
Mark M MugiishiMARK M MUGIISHI

BOARD OF GOVERNORS CHAIR

Total calculated

$0

Hours/week

1
Lisa Mk SakamotoLISA MK SAKAMOTO

BOARD OF GOVERNORS TREASURER

Total calculated

$0

Hours/week

1
Mark H YamakawaMARK H YAMAKAWA

BOARD OF GOVERNORS SECRETARY

Total calculated

$0

Hours/week

1
John C Dean JrJOHN C DEAN JR

MEMBER OF BOARD OF GOVERNORS

Total calculated

$0

Hours/week

1
Right Rev Robert L FitzpatrickRIGHT REV ROBERT L FITZPATRICK

EX OFFICIO MBR BOARD OF GOV

Total calculated

$0

Hours/week

1
Thomas A JermolukTHOMAS A JERMOLUK

MEMBER OF BOARD OF GOVERNORS

Total calculated

$0

Hours/week

1
Whitney LimmWHITNEY LIMM

MEMBER OF BOARD OF GOVERNORS

Total calculated

$0

Hours/week

1
Eun Joo MilkenEUN JOO MILKEN

MEMBER OF BOARD OF GOVERNORS

Total calculated

$0

Hours/week

1
Bill D MillsBILL D MILLS

MEMBER OF BOARD OF GOVERNORS

Total calculated

$0

Hours/week

1
Darin Nakagawa Thru 63023DARIN NAKAGAWA THRU 63023

EX OFFICIO MBR BOARD OF GOV

Total calculated

$0

Hours/week

1
Calvin S OishiCALVIN S OISHI

MEMBER OF BOARD OF GOVERNORS

Total calculated

$0

Hours/week

1
Raymond OnoRAYMOND ONO

MEMBER OF BOARD OF GOVERNORS

Total calculated

$0

Hours/week

1
Jill A OtakeJILL A OTAKE

MEMBER OF BOARD OF GOVERNORS

Total calculated

$0

Hours/week

1
Jonathan K PoeJONATHAN K POE

MEMBER OF BOARD OF GOVERNORS

Total calculated

$0

Hours/week

1
Takeshi SaekiTAKESHI SAEKI

MEMBER OF BOARD OF GOVERNORS

Total calculated

$0

Hours/week

1
Michele SaitoMICHELE SAITO

MEMBER OF BOARD OF GOVERNORS

Total calculated

$0

Hours/week

1
Emelda Wong TrainorEMELDA WONG TRAINOR

MEMBER OF BOARD OF GOVERNORS

Total calculated

$0

Hours/week

1
Kent TsukamotoKENT TSUKAMOTO

MEMBER OF BOARD OF GOVERNORS

Total calculated

$0

Hours/week

1
Jenai S WallJENAI S WALL

MEMBER OF BOARD OF GOVERNORS

Total calculated

$0

Hours/week

1
Robert W WoROBERT W WO

MEMBER OF BOARD OF GOVERNORS

Total calculated

$0

Hours/week

1
Reuben WongREUBEN WONG

MEMBER OF BOARD OF GOVERNORS

Total calculated

$0

Hours/week

1
Jodi Shin YamamotoJODI SHIN YAMAMOTO

MEMBER OF BOARD OF GOVERNORS

Total calculated

$0

Hours/week

1
Russell YamamotoRUSSELL YAMAMOTO

MEMBER OF BOARD OF GOVERNORS

Total calculated

$0

Hours/week

1

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

1a · Travel for companions
1a · Housing allowance or residence for personal use
1a · Personal services (maid, chauffeur, chef)
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Compensation committee
3 · Form 990 of other organizations
3 · Written employment contract
3 · Compensation survey or study
3 · Approval by the board or compensation committee
4b · Supplemental nonqualified retirement plan

Answered no

4a · Severance or change-of-control payment
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: 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 SCHOOL'S 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).
PART I, LINE 3: 'IOLANI DOES NOT HAVE A SEPARATE COMPENSATION COMMITTEE TO DETERMINE COMPENSATION. THE DUTIES OF A COMPENSATION COMMITTEE ARE PERFORMED BY 'IOLANI'S EXECUTIVE COMMITTEE.
PART I, LINE 4B: SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN THE HEAD OF SCHOOL IS A PARTICIPANT IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN DESCRIBED IN SECTION 457(F). THE DEFERRED AMOUNT OF $130,000 IS INCLUDED IN PART II, COLUMN (C).

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

BUILDING FUTURES LLC

REAL ESTATE · HI · income $287,561 · assets $25,366,706

Directly controlled by 'IOLANI SCH

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

KANEOHE PROPERTIES INC

C · REAL ESTATE · HI · 100% owned · share of assets $1,078 · controlled entity
H&M MIST TRUST

T · CHAR. TRUST · HI · 100% owned · share of income $26,639 · share of assets $910,836 · controlled entity

Provenance

Return type: form_990
Tax year: 2022
Filed: 9 May 2024
IRS schema version: 2022v5.0
Source object: 202421309349303842

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