'Iolani School

The information in this column was provided to MinistryWatch by the ministry itself. It was last updated 9/15/2021. To update the information in this column, please email: info@ministrywatch.com


Summary

'Iolani School is a culturally diverse, co-educational, college preparatory school for more than 2,000 students in kindergarten through 12th grade founded upon Christian values.


Contact information

Mailing address:
'Iolani School
563 Kamoku Street
Honolulu, HI 96826

Website: iolani.org

Phone: (808) 949-5355

Email: info@iolani.org


Organization details

EIN: 990073502

CEO/President: Timothy R. Cottrell

Chairman: Mark M. Mugiishi, M.D.

Board size: 24

Founder: Rev. George Mason

Year founded: 1942

Tax deductible: Yes

Fiscal year end: 06/30

Member of ECFA: No

Member of ECFA since:


Purpose

Academic excellence and personal growth flourish in an atmosphere that is challenging and competitive, yet caring and nurturing. Through dynamic and personalized instruction in a multitude of disciplines, 'Iolani School's day and boarding programs develop liberally educated, well-rounded individuals who are well prepared for college and ready to assume their responsibilities as active, moral citizens.


Mission statement

Its mission is to develop liberally educated, well-rounded individuals who are well prepared for higher education and for responsible, moral citizenship.

To foster academic excellence and personal growth, a school must be challenging and competitive yet compassionate and humane. The 'Iolani motto "One Team" expresses the spirit of unselfish cooperation and mutual support among faculty, staff, coaches, parents and students.


Statement of faith

Transparency grade

D

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: K-12 Schools/Academies

CategoryRatingOverall rankSector rank
Overall efficiency rating435 of 94015 of 30
Fund acquisition rating519 of 94221 of 30
Resource allocation rating285 of 9426 of 30
Asset utilization rating554 of 94020 of 30

Financial ratios

Funding ratiosSector median20202019201820172016
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
18%29%28%37%20%51%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
3%3%3%3%3%2%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
12%12%12%9%13%4%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
3%4%4%4%3%3%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
88%88%88%91%87%96%
 
Operating ratiosSector median20202019201820172016
Program expense ratio Program expense ratio =
Program services /
Total expenses
82%87%87%87%88%86%
Spending ratio Spending ratio =
Total expenses /
Total revenue
96%94%90%86%79%67%
Program output ratio Program output ratio =
Program services /
Total revenue
79%82%78%75%70%58%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
4%6%10%14%21%33%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
2%2%3%4%7%13%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
14%9%9%9%8%11%
 
Investing ratiosSector median20202019201820172016
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.380.200.190.190.200.21
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
3.231.631.581.471.451.49
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.340.330.300.280.290.31
 
Liquidity ratiosSector median20202019201820172016
Current ratio Current ratio =
Total current assets /
Total current liabilities
3.1026.3920.1218.8222.7821.12
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.320.040.050.050.040.05
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
4.0634.9438.0939.9439.8036.42
 
Solvency ratiosSector median20202019201820172016
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
30%28%26%21%18%20%
Debt ratio Debt ratio =
Debt /
Total assets
13%20%20%14%11%13%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
163%352%391%408%412%380%

Financials

Balance sheet
 
Assets20202019201820172016
Cash$7,144,257$6,114,005$6,450,719$4,186,605$3,332,543
Receivables, inventories, prepaids$5,488,230$6,519,159$4,753,134$5,189,845$1,226,581
Short-term investments$204,377,046$203,193,859$201,519,978$189,044,989$174,242,261
Other current assets$0$0$0$0$0
Total current assets$217,009,533$215,827,023$212,723,831$198,421,439$178,801,385
Long-term investments$0$0$0$0$0
Fixed assets$133,387,034$123,173,472$96,172,524$87,396,522$85,152,496
Other long-term assets$2,454,754$2,577,540$2,928,747$2,380,558$2,313,595
Total long-term assets$135,841,788$125,751,012$99,101,271$89,777,080$87,466,091
Total assets$352,851,321$341,578,035$311,825,102$288,198,519$266,267,476
 
Liabilities20202019201820172016
Payables and accrued expenses$6,423,447$6,399,657$7,846,771$5,251,100$5,065,940
Other current liabilities$1,799,748$4,328,067$3,455,239$3,460,820$3,401,880
Total current liabilities$8,223,195$10,727,724$11,302,010$8,711,920$8,467,820
Debt$70,734,804$66,717,192$44,430,895$32,729,090$34,777,977
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$21,252,110$11,151,060$8,894,652$10,797,502$9,479,357
Total long-term liabilities$91,986,914$77,868,252$53,325,547$43,526,592$44,257,334
Total liabilities$100,210,109$88,595,976$64,627,557$52,238,512$52,725,154
 
Net assets20202019201820172016
Without donor restrictions$187,055,765$191,894,412$191,195,849$184,330,793$171,379,948
With donor restrictions$65,585,447$61,087,647$56,001,696$51,629,214$42,162,374
Net assets$252,641,212$252,982,059$247,197,545$235,960,007$213,542,322
 
Revenues and expenses
 
Revenue20202019201820172016
Total contributions$8,936,273$8,455,747$6,479,579$9,641,288$3,473,465
Program service revenue$57,141,865$51,699,978$48,172,357$46,194,442$44,429,113
Membership dues$0$0$0$0$0
Investment income$9,735,165$11,846,310$15,723,584$16,101,283$35,623,476
Other revenue$188,060$46,302$41,435$676,327($367,451)
Total other revenue$67,065,090$63,592,590$63,937,376$62,972,052$79,685,138
Total revenue$76,001,363$72,048,337$70,416,955$72,613,340$83,158,603
 
Expenses20202019201820172016
Program services$62,420,965$56,462,118$52,874,891$50,498,632$48,283,460
Management and general$6,738,834$5,802,592$5,283,190$4,736,513$6,088,182
Fundraising$2,555,511$2,358,312$2,365,214$1,969,307$1,757,113
Total expenses$71,715,310$64,623,022$60,523,295$57,204,452$56,128,755
 
Change in net assets20202019201820172016
Surplus (deficit)$4,286,053$7,425,315$9,893,660$15,408,888$27,029,848
Other changes in net assets$0$0$0$0$0
Total change in net assets$4,286,053$7,425,315$9,893,660$15,408,888$27,029,848

Compensation

NameTitleCompensation
Timothy R CottrellHead of School, Ex Officio$813,743
Kimberly HagiExecutive Dir. Of Advancement$301,239
Reid GushikenChief Financial Officer$281,332
Aster ChinDean of Upper School$259,625
Burl BrownDean of Students$189,791
Zachary LinnertAssociate Dean of Lower School$185,674
Linda LookDean of Lower School$185,273

Compensation data as of: 6/30/2020


Response from ministry

No response has been provided by this ministry.


The information below was provided to MinistryWatch by the ministry itself. It was last updated 9/15/2021. To update the information below, please email: info@ministrywatch.com


History

'Iolani School's history is closely interwoven with the story of Hawai'i.

In 1862, following a request from King Kamehameha IV and Queen Emma to the Church of England, the first Anglican bishop and priests arrived to establish the Anglican Episcopal Church mission. By 1863, Bishop Thomas Nettleship Staley had formed the Hawaiian Reformed Catholic Church, which would later become the Anglican Church of Hawai'i. Bishop Staley and the Rev. George Mason, with the patronage of the King and Queen, also founded St. Alban's College. This was the beginning of the present 'Iolani School.

The school, under the direction of Father Mason, spread to Lahaina, Maui following the mission. In 1868, Father Mason returned to O'ahu and the two schools were merged into one at the Honolulu site. The school also soon underwent a name change to 'Iolani College, the bestowing of which has been attributed to both Queen Emma and King Kamehameha IV. In both cases, the name "'Iolani" (Hawaiian for "heavenly hawk") is meant to honor the late King Kamehameha IV, who was born Alexander Liholiho 'Iolani.

After the overthrow of the Hawaiian Kingdom and the annexation of Hawai'i to the United States, the American Episcopal Church assumed jurisdiction over the school. 'Iolani moved from its Nu'uanu Valley home to the Cathedral grounds where it remained until 1927, when it returned to Nu'uanu. 'Iolani continued to grow resulting in the move of the Lower School to the current Ala Wai property in November 1946. The last graduating class to attend the Nu'uanu campus was the class of 1953. The whole school was operational at the Ala Wai campus by Fall of 1953.

'Iolani's growth since 1953 has been phenomenal. Starting with a few wartime wooden buildings, the school has gradually built a multi-million dollar plant provided with the latest equipment. From a small mission school for young men, founded during the reign of King Kamehameha IV, 'Iolani has grown into one of the largest independent schools in the nation. In the fall of 1979, girls were admitted to 'Iolani for the first time. After nearly 60 years, the boarding program was reinstated and in 2018, and a new Residence Hall was built on campus.

More than 2,000 students of diverse racial and religious heritage currently attend the school's 13 grade levels (K-12). The students work through a curriculum which prepares them for college, but the school also strives through its religious, athletic and extracurricular programs to intensify and broaden the capacities of its students that they may enter the world not only with trained minds, but also with a sense of personal worth and responsibility to mankind.

The sustaining heart of a school is its faculty. 'Iolani's teachers come from across the country and other parts of the world; they bring a wealth of experience and background to their students. They form a disparate group but one that is united by a common dedication to excellence in education and by a love of children.

Although 'Iolani is related by tradition to the Episcopal Church, the school accepts boys and girls of any religious background. The requirements for admission are scholastic ability, good character, and the promise of leadership.


Program accomplishments

Accredited by the Western Association of Schools and Colleges
Licensed by the Hawaii Council of Private Schools


MEMBER OF:
National Association of Independent Schools (NAIS) Hawaii
Association of Independent Schools (HAIS) Secondary School
Admission Test Board (SSATB) Educational Records Bureau (ERB)
College Entrance Examination Board (CEEB)
National Association for College Admission Counseling (NACAC)
School and Student Service for Financial Aid (SSS)
National Association of Episcopal Schools (NAES)
Council for Spiritual and Ethical Education (CSEE)


Needs