2025-04-08T03:42:34-05:00 2024-06-30 261659234 CW ASSOCIATES CPAS 700 BISHOP STREET SUITE 1040 HONOLULU HI 96813 990 2024-06-01 990078306 HAWAII PREPARATORY ACADEMY HAWA 8088857321 65-1692 KOHALA MOUNTAIN ROAD KAMUELA HI 967438476 S FRED WAWNER HEAD OF SCHOOL 8088857321 2025-04-08 1 0 RODNEY M HARANO P00389596 8085311040 2025-04-08 2024 2025-03-06 01:10:19Z S FRED WAWNER 65-1692 KOHALA MOUNTAIN ROAD KAMUELA HI 967438476 583437 0 X WWW.HPA.EDU X 1957 HI TO PROVIDE EXCEPTIONAL LEARNING OPPORTUNITIES IN A DIVERSE COMMUNITY HONORING THE TRADITIONS OF HAWAII. 11 11 0 144 503 0 3136033 52604 24652384 204355 3779951 208973 368680 2701 31937048 468633 3737006 0 0 0 18319241 622829 0 0 58963 9144862 734762 31201109 1357591 735939 -888958 150647727 156257122 12413079 19362463 138234648 136894659 TO PROVIDE EXCEPTIONAL LEARNING OPPORTUNITIES IN A DIVERSE COMMUNITY HONORING THE TRADITIONS OF HAWAII. SEE SCHEDULE O. 0 0 912749 206553 K-12 EDUCATIONAL PROGRAM - PROVIDES EDUCATION FOR APPROXIMATELY 600 STUDENTS FROM KINDERGARTEN TO GRADE 12 912749 1 1 0 0 0 1 0 1 0 1 1 0 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 X 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 11 11 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X VICTORIA YU 8088857321 65-1692 KOHALA MOUNTAIN ROAD KAMUELA HI 967438476 X ROBERT BUDWAY PRESIDENT/BOARD MEMBER 2.00 X X 0 0 0 BONNIE WEDEMEYER FIRST VP/BOARD MEMBER 2.00 X X 0 0 0 LAURIE T AINSLIE TREASURER/BOARD MEMBER 2.00 X X 0 0 0 MICHAEL J CHUN BOARD MEMBER 2.00 X 0 0 0 WARREN DOI BOARD MEMBER 2.00 X 0 0 0 ROB O'DONOHUE BOARD MEMBER 2.00 X 0 0 0 HANS LORANGE BOARD MEMBER 2.00 X 0 0 0 SAM PRATT BOARD MEMBER 2.00 X 0 0 0 WILLIAM D PRATT BOARD MEMBER 2.00 X 0 0 0 MICHAEL S SPALDING BOARD MEMBER 2.00 X 0 0 0 MAX UNGER BOARD MEMBER 2.00 X 0 0 0 S FRED WAWNER SECOND VP & HEAD OF SCHOOL 40.00 X 0 0 0 BRIAN PEARSON ASST HEAD OF SCHOOL FOR BUSINESS OPS 40.00 X 0 0 0 KATHERINE PURDY ASSISTANT SECRETARY 40.00 X 0 0 0 0 0 0 52604 52604 SPECIAL EVENTS 611710 161755 161755 TUITION AND FEES 611710 42600 42600 204355 176189 176189 147588 114804 32784 32784 32784 2198 0 2198 2198 ISAACS ART GALLERY 900099 503 503 503 468633 206553 503 208973 45300 13590 27180 4530 394339 257062 103356 33921 80791 65341 13294 2156 34778 15405 13970 5403 67621 53464 11276 2881 5424 5424 7460 7460 13426 13426 9684 1812 7872 8152 2984 4316 852 102534 30171 69717 2646 193549 184567 7613 1369 7052 99 6424 529 26502 26502 5370 5370 119122 113166 5956 FOOD SERVICES 94631 94603 28 OTHER EXPENSES 73431 12288 56467 4676 STUDENT ACTIVITIES 45603 45603 ART CENTER OPERATIONS 22822 22594 228 1357591 912749 385879 58963 1367728 777110 2509721 8059885 1000 97880 452741 2463771 2465203 209489 432271 82061734 31321466 50593402 50740268 28920513 29409279 64485223 63919365 150647727 156257122 2830260 2406573 7027686 14434079 2555133 2521811 12413079 19362463 X 44828166 49973995 93406482 86920664 138234648 136894659 150647727 156257122 X -888958 147210 -598241 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 703001 0 0 1840235 X X X X FUNDRAISING 1 28840476 28840476 28378756 62020 3338025 2938325 28840476 28491789 1157234 -79209 1192066 28378756 29022885 1087700 -551929 1066867 28491789 23902962 36043 6123955 1040075 29022885 0.35865 0.40109 0.24027 1 0 6912078 6912078 55340198 16416027 38924171 1045752 837206 208546 18763706 14068233 4695473 50740268 DONATED ARTWORK HELD FOR INVESTMENT 2426797 BENEFICIAL INTEREST IN PARKER RANCH FOUNDATION 37255042 BENEFICIAL INTEREST IN TRUSTS HELD BY OTHERS 23486456 DONATED REAL ESTATE HELD FOR INVESTMENT 751070 63919365 X 28794673 147210 28790497 28937707 -143034 13426 598241 611667 468633 28885462 27541297 27541297 1344165 13426 13426 1357591 PART III, LINE 4: THE ACADEMY MAINTAINS AN EXTENSIVE COLLECTION OF HAWAIIAN ART INCLUDING PAINTINGS AND HAND-MADE ARTIFACTS. ARTWORK IS DONATED TO THE ACADEMY AND MAINTAINED BY THE ISAACS ART GALLERY. ARTWORK IS KEPT FOR EDUCATIONAL PURPOSES, PRESERVATION OF HAWAIIAN CULTURE OR SOLD FOR FUNDRAISING PURPOSES. PART V, LINE 4: THE ACADEMY'S ENDOWMENT INCLUDES 80 INDIVIDUAL DONOR-RESTRICTED FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ACADEMY'S ENDOWMENT CONSISTS OF BOTH DONOR-RESTRICTED FUNDS AND FUNDS DESIGNATED BY THE BOARD TO FUNCTION AS ENDOWMENTS. NET ASSETS WITH DONOR RESTRICTIONS ASSOCIATED WITH THESE ENDOWMENT FUNDS, INCLUDING BOARD-DESIGNATED FUNDS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE ACADEMY HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR-RESTRICTED FUNDS THAT THE ACADEMY MUST HOLD IN PERPETUITY OR FOR A DONOR-SPECIFIED PERIOD AS WELL AS BOARD-DESIGNATED FUNDS. UNDER THIS POLICY, THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER TO ENSURE THAT THE FUTURE GROWTH OF THE ENDOWMENT ASSETS IS SUFFICIENT TO OFFSET NORMAL INFLATION PLUS REASONABLE SPENDING, THEREBY PRESERVING THE CONSTANT DOLLAR VALUE AND PURCHASING POWER OF THE ENDOWMENT FUNDS FOR FUTURE GENERATIONS. PART X, LINE 2: U.S. GAAP REQUIRES UNCERTAIN TAX POSITIONS TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THEY ARE MORE LIKELY THAN NOT TO FAIL UPON REGULATORY EXAMINATION. MANAGEMENT HAS EVALUATED THE ACADEMY'S TAX POSITIONS AS OF AND FOR THE THIRTEEN MONTHS ENDED JUNE 30, 2024 AND AS OF AND FOR THE YEAR ENDED MAY 31, 2023, AND DETERMINED THAT THE ACADEMY HAD NO UNCERTAIN TAX POSITIONS REQUIRED TO BE REPORTED IN ACCORDANCE WITH U.S. GAAP. THE ACADEMY IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS IN PROGRESS FOR ANY OPEN TAX PERIODS. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE 6/1/23 - 5/31/24 28,790,497. PART XI, LINE 4B - OTHER ADJUSTMENTS: CHANGES IN BENEFICIAL INTERESTS IN TRUSTS 598,241. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES 6/1/23 - 5/31/24 27,541,297. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 NONDISCRIMINATORY POLICY PRINTED ON ADMISSION AND FINANCIAL AID PUBLICATION AND IN NEWSPAPER ADVERTISEMENTS. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL RESIDES ON CAMPUS AS A CONDITION OF EMPLOYMENT. FORM 990, PART V, LINE 7G: QUESTION 7G IS NOT APPLICABLE TO THE EXEMPT ORGANIZATION. AS SUCH, IT HAS BEEN LEFT BLANK. FORM 990, PART VI, SECTION A, LINE 2 WILLIAM D. PRATT (BOARD MEMBER) AND SAM PRATT (BOARD MEMBER) HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S ASSISTANT TREASURER & CONTROLLER WORKS CLOSELY WITH THE OUTSIDE ACCOUNTING FIRM IT ENGAGES TO REVIEW THE RETURN. THE FINAL DRAFT OF THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE BEFORE BEING PRESENTED TO THE FULL BOARD FOR REVIEW AND APPROVAL PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C A QUESTIONNAIRE IS SENT TO ALL BOARD MEMBERS AND OFFICERS ANNUALLY, EDUCATING THEM ABOUT THE ISSUE OF A CONFLICT OF INTEREST. THE COMMITTEE ON TRUSTEES REVIEWS INITIALLY AND ANNUALLY ALL TRANSACTIONS THAT MAY ARISE OR DO EXIST BETWEEN THE SCHOOL AND INDIVIDUALS WITH ACTUAL OR POTENTIAL CONFLICTS OF INTEREST, TRANSMITTING ITS RECOMMENDATIONS CONCERNING THE APPROPRIATENESS OF ANY SUCH TRANSACTIONS TO THE FULL BOARD OF TRUSTEES. THE BOARD OF TRUSTEES THEN DETERMINES WHETHER OR NOT TO PROCEED WITH SUCH TRANSACTION. AN OFFICER OR TRUSTEE WHO HAS POTENTIAL OR ACTUAL CONFLICT OF INTEREST, OR THE APPEARANCE THEREOF, SHALL RECUSE HIMSELF OR HERSELF FROM ANY VOTE OR ACCOMPANYING DISCUSSION. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES IS SOLELY RESPONSIBLE FOR DECISIONS REGARDING THE ENTIRE COMPENSATION PACKAGE FOR THE HEAD OF SCHOOL, WHO IS THE SCHOOL'S TOP MANAGEMENT OFFICIAL AND SECOND VICE PRESIDENT. THIS PROCESS WAS LAST UNDERTAKEN IN 2024. FORM 990, PART VI, SECTION C, LINE 19 FORM 1023 - AVAILABLE UPON REQUEST FORM 990 - AVAILABLE UPON REQUEST OR VIA WWW.GUIDESTAR.ORG GOVERNING DOCUMENTS - AVAILABLE UPON REQUEST (FACT DEPENDENT) CONFLICT OF INTEREST POLICY - NOT AVAILABLE (INTERNAL USE ONLY) FINANCIAL STATEMENTS - AVAILABLE UPON REQUEST OR VIA WWW.GUIDESTAR.ORG FORM 990, PART XI, LINE 9: CHANGES IN BENEFICIAL INTERESTS IN TRUSTS HELD BY OTHERS -598,241. FORM 990, PART XII, LINE 2C: THE OVERSIGHT PROCESS OF THE AUDITED FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART III, LINE 1: FOUNDED IN 1949, HAWAII PREPARATORY ACADEMY IS AN INDEPENDENT COEDUCATIONAL SCHOOL PROVIDING A FULL RANGE OF OPPORTUNITIES FOR STUDENTS FROM KINDERGARTEN THROUGH GRADE 12. OUR BOARDING PROGRAM ADMITS STUDENTS IN GRADES 9 THROUGH 12. HPA FEATURES MANY UNIQUE COURSES AND ACTIVITIES (MARINE SCIENCE FIELD STUDIES, SEA TURTLE RESEARCH, SCUBA CERTIFICATION, AND MORE) THAT MAKE USE OF HAWAII'S GEOGRAPHICAL SETTING AND GIVE STUDENTS A STRONG SENSE OF HAWAII AND ITS CULTURE. OFFERINGS ALSO INCLUDE PROGRAMS IN THE VISUAL AND PERFORMING ARTS AS WELL AS A SUCCESSFUL UPPER SCHOOL INTERSCHOLASTIC ATHLETIC PROGRAM THAT STRESSES SCHOOL-WIDE PARTICIPATION AND TEACHES THE VALUES OF SPORTSMANSHIP AND FAIR PLAY. THE SCHOOL HAS TWO CAMPUSES IN THE TOWN OF WAIMEA (KAMUELA) ON THE ISLAND OF HAWAII. THE LOWER AND MIDDLE SCHOOLS ARE LOCATED ON NINE ACRES IN THE HEART OF HAWAII'S RANCHING COUNTRY, WHILE THE UPPER SCHOOL IS LOCATED JUST TWO MILES AWAY ON A 200-ACRE CAMPUS AT THE FOOT OF THE KOHALA MOUNTAINS. HPA IS FULLY ACCREDITED BY THE WESTERN ASSOCIATION OF SCHOOLS AND COLLEGES AND IS A MEMBER OF 12 EDUCATIONAL ORGANIZATIONS INCLUDING THE COUNCIL FOR THE ADVANCEMENT AND SUPPORT OF EDUCATION, COLLEGE ENTRANCE EXAMINATION BOARD, COUNCIL FOR SPIRITUAL AND ETHICAL EDUCATION, CUM LAUDE SOCIETY, NATIONAL ASSOCIATION OF COLLEGE ADMISSION COUNSELORS, HAWAII ASSOCIATION OF INDEPENDENT SCHOOLS, AND NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS. VISIT HTTP://WWW.HPA.EDU/ABOUT FOR MORE INFORMATION REGARDNG HPA'S ENROLLMENT, FACULTY, COLLEGE COUNSELING PROGRAM, SPORTS AND CO-CURRICULAR ATIVITIES, ADVANCED PLACEMENT PREPARATION, AND USE OF TECHNOLOGY IN THE LEARNING PROCESS. PARKER RANCH FOUNDATION TRUST 66-1304 MAMALAHOA HIGHWAY KAMUELA HI 96743 996064620 SUPPORT HAWAII PREPARATORY ACADEMY AND OTHER HAWAII ORGANIZATIONS HI 501(C)(3) LINE 11 - TYPE 1 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0