2024-05-07T19:07:34-05:00 2023-06-30 261659234 CW ASSOCIATES CPAS 700 BISHOP STREET SUITE 1040 HONOLULU HI 96813 990 2022-07-01 680534162 ISLAND PACIFIC ACADEMY INC ISLA 8086743523 909 HAUMEA STREET KAPOLEI HI 96707 GERALD TERAMAE HEAD OF SCHOOL 8086743523 2024-05-07 1 GERALD TERAMAE 999009999 0 VERA WRIGHT P00024010 8085311040 2024-05-07 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z MARTHA CAMACHO 909 HAUMEA STREET KAPOLEI HI 96707 14750343 0 X ISLANDPACIFICACADEMY.ORG X 2002 HI ISLAND PACIFIC ACADEMY (IPA) IS A K-12 INDEPENDENT, COED, COLLEGE PREPARATORY SCHOOL 12 12 185 40 0 0 2103810 2932560 10208982 11113944 15910 288640 -104149 218611 12224553 14553755 728263 1378287 0 0 6394130 6859078 0 0 359325 3299457 3342217 10421850 11579582 1802703 2974173 6468633 19908402 1653351 12102355 4815282 7806047 SEE SCHEDULE O. 0 0 8641174 1378287 11109645 PROVIDE A LEARNING ENVIRONMENT CONDUCIVE TO ACADEMIC SUCCESS FOR APPROXIMATELY 560 CHILDREN IN PRE-KINDERGARTEN THROUGH THE TWELFTH GRADE. 8641174 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 0 0 0 0 0 0 0 0 0 1 32 0 185 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 12 12 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 MARTHA CAMACHO PRESIDENT 0.50 X X 0 0 0 DEL MOCHIZUKI TREASURER 0.50 X X 0 0 0 CAYENNE PE'A SECRETARY 0.50 X 0 0 0 TEDDI ANDERSON TRUSTEE 0.50 X 0 0 0 JAMES MALINS TRUSTEE 0.50 X 0 0 0 KEITH OGATA TRUSTEE 0.50 X 0 0 0 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 LANCE WILHELM TRUSTEE 0.50 X 0 0 0 PETER YOUNG TRUSTEE 0.50 X 0 0 0 GERALD TERAMAE HEAD OF SCHOOL 40.00 X 211851 0 3235 SHARON YOSHIDA DIRECTOR OF FINANCE 40.00 X 102370 0 8345 314221 0 11580 2 0 1 0 ERC SPECIALISTS LLC 560 E TIMPANOGOS CIR OREM UT 840976225 ACCOUNTING 242065 CONNECTWORKS GROUP HAWAII LLC 76 N KING STE 200 HONOLULU HI 968175644 MARKETING 175314 2 27235 2435190 470135 24652 2932560 TUITION & FEES 611110 10484166 10484166 BEFORE/AFTER SCHOOL PROGRAMS 611110 211661 211661 SUMMER SCHOOL 611110 161426 161426 APPLICATION & OTHER FEES 611110 141346 141346 CLUB & OTHER FEES 611110 115345 115345 11113944 288640 288640 401760 27235 178850 222910 222910 13439 17738 -4299 -4299 14553755 11109645 0 511550 1378287 1378287 329094 329094 5543793 4271475 1049742 222576 58647 55295 3043 309 497486 369830 105637 22019 430058 312910 99746 17402 17949 17949 80736 80736 22439 22439 371245 371245 101425 101425 210496 80922 119459 10115 211441 65737 145704 1545028 1143321 339906 61801 15377 15377 21314 21314 268500 198690 59070 10740 STUDENT ACT & FIELD TRI 131354 131354 INSTRUCTIONAL EXPENSES 113938 113938 PROFESSIONAL DEVELOPMEN 67481 21425 46056 ATHLETIC EXPENSES 55136 55136 108358 71609 22386 14363 11579582 8641174 2579083 359325 2586019 2619539 36916 35148 30000 20000 -535854 8606292 43478 104184 6606520 3769822 720996 2836698 2285596 5684970 1301482 1571 6468633 19908402 171515 530385 887449 10629152 473489 395915 120898 546903 1653351 12102355 X 4323338 7643138 491944 162909 4815282 7806047 6468633 19908402 2974173 152277 -135685 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9017 20000 1809 210 30616 10000 -1050 89 9017 10000 504 39 10466 0.00000 1.00000 0.00000 0 0 1989011 607197 1381814 2960487 1863546 1096941 1657022 1299079 357943 2836698 CAPITAL LEASE OBLIGATION 546903 546903 X 13524333 152277 196588 348865 13175468 1378287 1378287 14553755 10397883 196588 196588 10201295 1378287 1378287 11579582 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 ORGANIZATION AS OF JUNE 30, 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 ORGANIZATION 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: DIRECT FUNDRAISING EXPENSES 178,850. COST OF GOODS SOLD 17,738. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID, TUITION REMISSIONS, DISCOUNTS AND SCHOLARSHIPS 1,378,287. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSES 178,850. COST OF GOODS SOLD 17,738. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID, TUITION REMISSIONS, DISCOUNTS AND SCHOLARSHIPS 1,378,287. 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 306594 26235 280359 140046 GOLF TOURNAMENT 122401 1000 121401 38804 428995 27235 401760 178850 178850 222910 1 FINANCIAL AID 127 844429 TUITION REMISSION 30 533858 PART I, LINE 2: FINANCIAL AID REQUESTS REQUIRE APPLICATION THROUGH A THIRD-PARTY, SCHOOL AND STUDENT SERVICES FOR FINANCIAL AID (SSS). THE FAMILY SUBMITS A COMPLETED SSS APPLICATION FORM AND THEIR MOST RECENT YEAR FORM 1040 TAX RETURN. SSS 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 210750 0 1101 0 0 0 3190 0 45 0 215086 0 0 0 FORM 990, PART I, LINE 1 MISSION: ISLAND PACIFIC ACADEMY EMPOWERS STUDENTS TO UNLOCK THEIR POTENTIAL BY PROVIDING A WELL-ROUNDED COLLEGE AND CAREER PREPARATORY EDUCATION THAT VALUES EACH CHILD'S INDIVIDUALITY, BUILDS CONFIDENCE AND CHARACTER, AND INSPIRES FUTURE SUCCESS AS ENGAGED CITIZENS AND LIFELONG LEARNERS IN A PLACE WHERE VALUES MATTER. VISION: ISLAND PACIFIC ACADEMY INSPIRES AND ENABLES OUR STUDENTS TO "GO FORWARD WITH CONFIDENCE" (I MUA ME KA HA'AHEO) TO BECOME CARING, CONTRIBUTING CITIZENS WHO SUCCEED IN AN EVERCHANGING WORLD. OUR PURPOSE IS TO PROVIDE CHILDREN WITH AN ACADEMICALLY CHALLENGING AND DEVELOPMENTALLY APPROPRIATE EDUCATIONAL EXPERIENCE LED BY TALENTED AND CARING TEACHERS IN A NURTURING AND SUPPORTIVE LEARNING ENVIRONMENT. OUR GOAL IS TO GRADUATE YOUNG MEN AND WOMEN WHOSE PERFORMANCE MATCHES THEIR ABILITIES AND REFLECTS THE CORE VALUES OF POWER OF HUMAN KINDNESS, GENEROSITY OF SPIRIT, SOLUTION ORIENTED, GROWTH MINDSET, AND INGENUITY. IPA ENROLLED ITS FIRST STUDENTS IN SEPTEMBER 2004. UNDER THE LEADERSHIP OF THE FOUNDING HEADMASTER, DR. DANIEL WHITE, THE SCHOOL HAS GROWN FROM 200 ORIGINAL STUDENTS TO A CURRENT ENROLLMENT OF APPROXIMATELY 560, AND GRADUATED ITS FIRST CLASS OF 45 SENIORS IN MAY 2010. IPA'S CURRENT HEAD OF SCHOOL IS GERALD TERAMAE. FORM 990, PART VI, SECTION B, LINE 11B THE DIRECTOR OF FINANCE PERFORMS A FIRST REVIEW OF THE FORM 990, THEN THE HEAD OF SCHOOL DOES A FINAL REVIEW PRIOR TO FILING. 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.