2026-03-03T20:54:04-06:00 2025-06-30 261659234 CW ASSOCIATES CPAS 700 BISHOP STREET SUITE 1040 HONOLULU HI 96813 990 2024-07-01 680534162 ISLAND PACIFIC ACADEMY INC ISLA 8086743523 909 HAUMEA STREET KAPOLEI HI 96707 GERALD TERAMAE HEAD OF SCHOOL 8086743523 2026-03-03 1 1 VERA WRIGHT P00024010 8085311040 2026-03-03 2024 2025-03-06 01:10:19Z CAYENNE PE'A 909 HAUMEA STREET KAPOLEI HI 96707 14224433 0 X ISLANDPACIFICACADEMY.ORG X 2002 HI ISLAND PACIFIC ACADEMY (IPA) IS A K-12 INDEPENDENT, COED, COLLEGE PREPARATORY SCHOOL 13 13 175 50 0 0 285436 1229533 11671819 11248409 365058 307826 -1101 -67332 12321212 12718436 1409202 1314522 0 0 7205281 7575831 0 0 296253 3595034 3824714 12209517 12715067 111695 3369 18951118 21278429 10590471 12684614 8360647 8593815 SEE SCHEDULE O. 0 0 10036634 1314522 11236851 PROVIDE A LEARNING ENVIRONMENT CONDUCIVE TO ACADEMIC SUCCESS FOR APPROXIMATELY 528 CHILDREN IN KINDERGARTEN THROUGH THE TWELFTH GRADE. 10036634 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 12 0 1 175 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 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 MIKE YOUNG SECRETARY 0.50 X 0 0 0 MARTHA CAMACHO TREASURER 0.50 X 0 0 0 JOY BARUA TRUSTEE 0.50 X 0 0 0 LANCE CHEE TRUSTEE 0.50 X 0 0 0 LEIGHTON HARA TRUSTEE 0.50 X 0 0 0 DEL MOCHIZUKI TRUSTEE 0.50 X 0 0 0 JERRY PUPILLO 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 ERIC SEITZ TRUSTEE 0.50 X 0 0 0 KIMBERLY UEHISA TRUSTEE 0.50 X 0 0 0 GERALD TERAMAE HEAD OF SCHOOL 40.00 X 240244 0 4791 GAVIN YUKITOMO CHIEF FINANCIAL OFFICER 40.00 X 104937 0 26986 345181 0 31777 2 0 1 0 0 207135 1022398 5000 1229533 TUITION & FEES 611110 10241950 10241950 APPLICATION & OTHER FEES 611110 350611 350611 BEFORE/AFTER SCHOOL PROGRAMS 611110 268258 268258 SUMMER SCHOOL 611110 219328 219328 CLUB & OTHER FEES 611110 109388 109388 58874 58874 11248409 319791 319791 2162 97 2065 2065 2065 1313971 1325936 -11965 -11965 -11965 94230 207135 152069 -57839 -57839 16337 27895 -11558 -11558 12718436 11236851 0 252052 1314522 1314522 357031 357031 6050146 4896327 945858 207961 51278 51278 642981 642981 474395 474395 16028 16028 41661 41661 26631 26631 65736 39720 26016 228203 8662 219541 239489 162119 53406 23964 198556 99278 99278 1191302 893476 262087 35739 26255 26255 19676 19676 25201 25201 505490 379117 111208 15165 128319 114617 12058 1644 STUDENT ACT & FIELD TRI 418169 418169 REPAIRS AND MAINTENANCE 310190 232642 68242 9306 INSTRUCTIONAL EXPENSES 170654 170654 CREDIT LOSSES 88190 88190 124964 50487 72003 2474 12715067 10036634 2382180 296253 338093 200340 1603075 1303322 0 300802 7837417 7738810 121199 167868 4457107 2664639 2134842 1792468 6163896 6490801 752596 3284018 18951118 21278429 236258 251315 8942830 8788553 316416 234895 1094967 3409851 10590471 12684614 X 8249795 7991060 110852 602755 8360647 8593815 18951118 21278429 3369 229799 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 55852 382248 8076 446176 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 2198719 1143622 1055097 1198906 755811 443095 1059482 765206 294276 1792468 OPERATING LEASES 3284018 3284018 CAPITAL LEASE OBLIGATION 3409851 3409851 X 11632494 229799 229799 11402695 26631 1289110 1315741 12718436 11891229 27895 27895 11863334 26631 825102 851733 12715067 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 TAX POSITIONS OF THE ACADEMY AS OF JUNE 30, 2025 AND 2024 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 JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS IN PROGRESS FOR ANY OPEN TAX PERIODS. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID, TUITION REMISSIONS, DISCOUNTS AND SCHOLARSHIPS 827,372. COST OF GOODS SOLD -27,895. DIRECT FUNDRAISING EXPENSES -2,270. CHANGE IN NET ASSETS WITH DONOR RESTRICTIONS 491,903. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 27,895. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID, TUITION REMISSIONS, DISCOUNTS AND SCHOLARSHIPS 827,372. DIRECT FUNDRAISING EXPENSES -2,270. 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 183702 141235 42467 93501 GOLF TOURNAMENT 117663 65900 51763 58568 301365 207135 94230 152069 152069 -57839 1 FINANCIAL AID 139 624262 0 N/A N/A TUITION REMISSION 31 487150 0 N/A N/A SIBLING DISCOUNTS 108 203110 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, ALONG WITH VARIOUS SUPPORTING DOCUMENTS. 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 240244 0 0 0 0 0 0 0 4791 0 245035 0 0 0 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.