2025-05-09T15:16:29-05:00 2024-06-30 261659234 CW ASSOCIATES CPAS 700 BISHOP STREET SUITE 1040 HONOLULU HI 96813 990 2023-07-01 680534162 ISLAND PACIFIC ACADEMY INC ISLA 8086743523 909 HAUMEA STREET KAPOLEI HI 96707 GERALD TERAMAE HEAD OF SCHOOL 8086743523 2025-05-09 1 0 VERA WRIGHT P00024010 8085311040 2025-05-08 2023 2025-03-06 01:10:19Z CAYENNE PE'A 909 HAUMEA STREET KAPOLEI HI 96707 13921014 0 X ISLANDPACIFICACADEMY.ORG X 2002 HI ISLAND PACIFIC ACADEMY (IPA) IS A K-12 INDEPENDENT, COED, COLLEGE PREPARATORY SCHOOL 14 14 182 50 0 0 2932560 285436 11113944 11671819 288640 365058 218611 -1101 14553755 12321212 1378287 1409202 0 0 6859078 7205281 0 0 290549 3342217 3595034 11579582 12209517 2974173 111695 19908402 18951118 12102355 10590471 7806047 8360647 SEE SCHEDULE O. 0 0 9572743 1409202 11647187 PROVIDE A LEARNING ENVIRONMENT CONDUCIVE TO ACADEMIC SUCCESS FOR APPROXIMATELY 560 CHILDREN IN KINDERGARTEN THROUGH THE TWELFTH GRADE. 9572743 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 15 0 1 182 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 X THE ORGANIZATION 8086743523 909 HAUMEA STREET KAPOLEI HI 96707 CAYENNE PE'A PRESIDENT 0.50 X X 0 0 0 JAMES MALINS VICE PRESIDENT 0.50 X X 0 0 0 PETER YOUNG TREASURER 0.50 X 0 0 0 MIKE YOUNG SECRETARY 0.50 X 0 0 0 JOY BARUA TRUSTEE 0.50 X 0 0 0 MARTHA CAMACHO TRUSTEE 0.50 X 0 0 0 DEL MOCHIZUKI TRUSTEE 0.50 X 0 0 0 ERIC SEITZ TRUSTEE 0.50 X 0 0 0 KIMBERLY UEHISA TRUSTEE 0.50 X 0 0 0 TEDDI ANDERSON TRUSTEE 0.50 X 0 0 0 LANCE CHEE TRUSTEE 0.50 X 0 0 0 DR LEON RICHARDS TRUSTEE 0.50 X 0 0 0 MIKE ROMPEL TRUSTEE 0.50 X 0 0 0 LANCE WILHELM TRUSTEE 0.50 X 0 0 0 GERALD TERAMAE HEAD OF SCHOOL 40.00 X 292334 0 8734 SHARON YOSHIDA FORMER DIRECTOR OF FINANCE 40.00 X 44886 0 3280 GAVIN YUKITOMO DIRECTOR OF FINANCE 40.00 X 61130 0 3998 GAIL VANNATTA PRINCIPAL 40.00 X 104698 0 13776 503048 0 29788 2 0 1 0 0 153859 131577 69804 285436 TUITION & FEES 611110 10970641 10970641 BEFORE/AFTER SCHOOL PROGRAMS 611110 290981 290981 SUMMER SCHOOL 611110 188620 188620 CLUB & OTHER FEES 611110 144422 144422 APPLICATION & OTHER FEES 611110 63190 63190 13965 13965 11671819 294153 294153 1427054 1356149 70905 70905 70905 228701 153859 205170 23531 23531 13851 38483 -24632 -24632 12321212 11647187 0 388589 5050 5050 1404152 1404152 348937 348937 5703809 4622735 873101 207973 51160 51160 656080 656080 445295 445295 10173 10173 35891 35891 24010 24010 164978 35317 129661 129679 14428 115251 220425 150273 62170 7982 166029 82801 83228 1191495 893621 262129 35745 30001 2383 27618 14645 14645 54206 54206 492873 369655 108432 14786 139736 104802 30742 4192 REPAIRS AND MAINTENANCE 319643 240842 69345 9456 STUDENT ACT & FIELD TRI 302622 302622 INSTRUCTIONAL EXPENSES 131138 131138 DUES, FEES, & SUBSCRIPT 102234 21026 74982 6226 65256 39363 21704 4189 12209517 9572743 2346225 290549 2619539 338093 35148 1603075 20000 0 8606292 7837417 104184 121199 4293990 2159148 2836698 2134842 5684970 6163896 1571 752596 19908402 18951118 530385 236258 10629152 8942830 395915 316416 546903 1094967 12102355 10590471 X 7643138 8249795 162909 110852 7806047 8360647 19908402 18951118 111695 184030 258875 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 30616 20000 5236 55852 9017 20000 1809 210 30616 10000 -1050 89 9017 10000 504 39 10466 0.00000 1.00000 0.00000 0 0 2052432 898706 1153726 1198906 572896 626010 1042652 687546 355106 2134842 CAPITAL LEASE OBLIGATION 1094967 1094967 X 11962263 184030 348865 532895 11429368 24010 867834 891844 12321212 11317672 38483 38483 11279189 24010 906318 930328 12209517 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 EVALUATED THE TAX POSITIONS OF THE ACADEMY AS OF JUNE 30, 2024 AND 2023 AND FOR THE YEARS THEN ENDED, AND DETERMINED THAT THERE WERE NO UNCERTAIN TAX POSITIONS REQUIRED TO BE REPORTED IN ACCORDANCE WITH U.S. GAAP. THE ACADEMY IS SUBJECT TO ROUTINE AUDITS BY TAXING AUTHORITIES; HOWEVER, THERE ARE CURRENTLY NO AUDITS IN PROGRESS FOR ANY OPEN TAX PERIODS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN NET ASSETS WITH DONOR RESTRICTIONS 348,865. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID, TUITION REMISSIONS, DISCOUNTS AND SCHOLARSHIPS 902,137. COST OF GOODS SOLD -38,483. DIRECT FUNDRAISING EXPENSES 4,180. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 38,483. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID, TUITION REMISSIONS, DISCOUNTS AND SCHOLARSHIPS 902,138. DIRECT FUNDRAISING EXPENSES 4,180. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE ACADEMY PLACED THE POLICY ON THE SCHOOL'S WEBSITE, ON THE EMPLOYMENT PAGE, AND THE ADMISSIONS PAGE. ANNUAL GALA 223909 113354 110555 93001 GOLF TOURNAMENT 158651 40505 118146 112169 382560 153859 228701 205170 205170 23531 1 FINANCIAL AID 139 902137 0 N/A N/A TUITION REMISSION 27 502015 0 N/A N/A PART I, LINE 2: FINANCIAL AID REQUESTS REQUIRE APPLICATION THROUGH A THIRD-PARTY, FACTS GRANT & AID. THE FAMILY SUBMITS A COMPLETED APPLICATION FORM AND THEIR MOST RECENT YEAR FORM 1040 TAX RETURN. THE THIRD-PARTY REVIEWS THE INFORMATION AND REMITS THE RESULTS OF THEIR ANALYSIS TO THE SCHOOL. THE SCHOOL'S FINANCIAL AID COMMITTEE MEETS AND REVIEWS EACH APPLICATION. X X 0 0 0 0 0 0 0 0 0 GERALD TERAMAE HEAD OF SCHOOL 292334 0 0 0 0 0 0 0 8734 0 301068 0 0 0 X 290 2000 FAIR MARKET VALUE X GALA AND GOLF TOURNAMENT IN-KIND DONATIONS 595 67804 FAIR MARKET VALUE 0 0 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF ITEMS CONTRIBUTIONS. FORM 990, PART VI, SECTION B, LINE 11B CFO AND HEAD OF SCHOOL REVIEWS THE FORM 990, THEN PRESENTS TO THE FINANCE COMMITTEE AND THEN TO THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 12C IF THE BOARD CONSIDERS ENTERING INTO ANY TRANSACTION OR ARRANGEMENT WITH A CORPORATION, ENTITY, OR INDIVIDUAL IN WHICH A BOARD MEMBER HAS AN INTEREST: A. THE INTERESTED BOARD MEMBER MUST DISCLOSE THE POTENTIAL CONFLICT OF INTEREST TO THE BOARD B. THE BOARD MAY ASK THE INTERESTED BOARD MEMBER TO LEAVE THE MEETING DURING DISCUSSION OF THE MATTER THAT GIVES RISE TO THE POTENTIAL CONFLICT C. THE INTERESTED BOARD MEMBER WILL NOT VOTE ON THE MATTER THAT GIVES RISE TO THE POTENTIAL CONFLICT D. THE BOARD MUST APPROVE THE TRANSACTION OR ARRANGEMENT BY A 2/3 MAJORITY VOTE OF DISINTERESTED BOARD MEMBERS AT A DULY CALLED MEETING OF THE BOARD AND E. THE BOARD MEETING MINUTES MUST STATE WHICH BOARD MEMBERS WERE NOT PRESENT FOR THE DISCUSSION AND VOTE, THE CONTENT OF THE DISCUSSION, AND ANY ROLL CALL OF THE VOTE. FORM 990, PART VI, SECTION B, LINE 15 FORM 990, PAGE 6, PART VI, LINE 15A FOR THE HEAD OF SCHOOL POSITION, THE BOARD OBTAINED AND REVIEWED THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS ("NAIS") SALARY DATA FOR OTHER HEADS OF SCHOOL POSITIONS. THE BOARD APPROVED THE HEAD OF SCHOOL'S COMPENSATION WHICH IS CONSIDERED TO BE IN THE 40 PERCENTILE OF OTHER NAIS HEADS. THE COMPENSATION FOR THE HEAD OF SCHOOL IS DETERMINED BY THE BOARD ON A FIVE YEAR BASIS. FORM 990, PAGE 6, PART VI, LINE 15B FOR OTHER OFFICERS OR KEY EMPLOYEES, THE BOARD OBTAINED AND REVIEWED THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS ("NAIS") SALARY DATA FOR OTHER SIMILAR POSITIONS. THE BOARD APPROVED THE OTHER OFFICERS OR KEY EMPLOYEES' COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 COPIES ARE AVAILABLE IN THE BUSINESS OFFICE AND CAN BE REVIEWED UPON REQUEST.