Hawaii Preparatory Academy
- Assets
- $147.1m
- Revenue
- $28.6m
- Investments
- $0.0
- Employees
- 298
- Location
- Kamuela, HI
- Founding
- 09/1958
- Data as of
- 05/2022
- EIN
- 99-0078306
Organization Overview
Hawaii Preparatory Academy is located in Kamuela, HI. The organization was established in 1958. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 05/2023, Hawaii Preparatory Academy employed 298 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hawaii Preparatory Academy is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2022, Hawaii Preparatory Academy generated $28.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $28.8m during the year ending 05/2022. While expenses have increased by 1.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
K-12 EDUCATIONAL PROGRAM - PROVIDES EDUCATION FOR APPROXIMATELY 600 STUDENTS FROM KINDERGARTEN TO GRADE 12
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Budway President/board Member | OfficerTrustee | 2 | $0 |
Bonnie Wedemeyer First Vp/board Member | OfficerTrustee | 2 | $0 |
Laurie T Ainslie Treasurer/board Member | OfficerTrustee | 2 | $0 |
Michael J Chun Board Member | Trustee | 2 | $0 |
Warren Doi Board Member | Trustee | 2 | $0 |
Allison Holt Gendreau Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Flik Independent School Dining Food Service | 5/30/23 | $2,412,651 |
Allied Universal Security Services Security Services | 5/30/23 | $282,444 |
Basis Diagnostics Clinical Testing - Covid Testings | 5/30/23 | $308,062 |
L Arafiles Builders Llc Building & Grounds Improvement | 5/30/23 | $171,705 |
Cades Schutte Llp Legal Services | 5/30/23 | $145,779 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $210,423 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,798,655 |
| Noncash contributions included in lines 1a–1f | $435,249 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,009,078 |
| Total Program Service Revenue | $23,006,552 |
| Investment income | $2,307,073 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $793,146 |
| Net Income from Fundraising Events | $15,571 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $27,180 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,601,591 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,109,108 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $396,253 |
| Compensation of current officers, directors, key employees. | $237,752 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,893,440 |
| Pension plan accruals and contributions | $753,986 |
| Other employee benefits | $3,783,826 |
| Payroll taxes | $849,407 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $232,377 |
| Fees for services: Accounting | $46,185 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $148,619 |
| Fees for services: Other | $353,176 |
| Advertising and promotion | $124,683 |
| Office expenses | $1,235,673 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,966,572 |
| Travel | $69,574 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $80,250 |
| Interest | $111,981 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,585,333 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $28,833,205 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $547,402 |
| Savings and temporary cash investments | $930,475 |
| Pledges and grants receivable | $295,000 |
| Accounts receivable, net | $115,935 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,361,199 |
| Prepaid expenses and deferred charges | $379,991 |
| Net Land, buildings, and equipment | $50,541,570 |
| Investments—publicly traded securities | $27,187,512 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $64,772,652 |
| Total assets | $147,131,736 |
| Accounts payable and accrued expenses | $3,262,420 |
| Grants payable | $0 |
| Deferred revenue | $2,405,837 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,531,860 |
| Unsecured mortgages and notes payable | $2,350,000 |
| Other liabilities | $0 |
| Total liabilities | $11,550,117 |
| Net assets without donor restrictions | $49,718,867 |
| Net assets with donor restrictions | $85,862,752 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $147,131,736 |