501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
$1.9M paid to officers and key staff.
Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $12.2M a year · 13% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.9M
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
<1 mo
of spending, in cash
Plus $213.2M in investments, Pt X · Ln 11–13
Fine: 0.5 months of spending in cash, plus $213.2M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $248K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$78.8M
22% of total assets
Looks good: liabilities are 22% of assets; 50% or less.
Pt X · Ln 26
Independent board members
23
of 26 voting members
Looks good: 23 of 26 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$95.4M
-1% vs prior year
Spent
$80.5M
To programs
89%
Net assets
$274.7M
By yearFY2020–FY2025
Revenue
$95.4M
FY2022▼ -1%
Tap a bar for its year
Revenue by fiscal year
FY2020$76.0M
FY2021$96.7M
FY2022$95.4M
FY2023$99.3M
FY2024$104.9M
FY2025$110.8M
Expenses
$80.5M
FY2022▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$71.7M
FY2021$75.3M
FY2022$80.5M
FY2023$87.5M
FY2024$94.3M
FY2025$101.1M
Net assets
$274.7M
FY2022▼ -10%
Tap a bar for its year
Net assets by fiscal year
FY2020$252.6M
FY2021$305.2M
FY2022$274.7M
FY2023$308.1M
FY2024$338.6M
FY2025$366.6M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1942.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $71.6M Management & general 8% · $6.4M Fundraising 3% · $2.5M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

32 people listed on the 990; $1.9M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Head of School, Ex Officio
$629,282Pt VII · Sec A
Chief Financial Officer
$261,997Pt VII · Sec A
Dean of Upper School
$242,528Pt VII · Sec A
Executive Dir. of Advancement
$236,940Pt VII · Sec A
Dean of Studies
$187,903Pt VII · Sec A
Dean of Students
$185,578Pt VII · Sec A
Dean of Admission
$175,673Pt VII · Sec A
Ex Officio Mbr Board of Gov
$0Pt VII · Sec A

Timothy R Cottrellthru 63025’s $625K as Head of School, Ex Officio is at the 54th percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Timothy R Cottrell—$643,573$631,526$629,282$569,903$475,324
Timothy R Cottrellthru 63025$625,107—————
Reid Gushiken$310,136$290,316$284,812$261,997$238,185$212,946
Aster Chin—$289,634$278,779$242,528$203,600$192,166
Kimberly Hagi$280,094$257,855$246,654$236,940$241,311$228,978
Melanie Pfingsten$275,066$217,218$213,606$187,903$161,070—
Burl Brown—$238,722$229,267$185,578$170,424$165,357
Michael F Lomuscio$228,257$221,839————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See 'iolani School executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Prepares students for college with a well-rounded education.

Questions for 'iolani School

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Your first name shows with your question. 'iolani School answers here, for everyone.

Provided by the organization

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3 programs · $69.1M · in their own filed words · FY2021
01

'iolani was founded in 1863 after king kamehameha iv and queen emma set out to establish an anglican church in hawaii. The school was rooted in three small schools - a lahaina school on the island of maui, ST.

$60.8Mprogram expense
02

'iolani offers an extensive summer and after school program with reinforcement, enrichment, elective and credit courses. These courses are open to students from all schools and are available on a first come first serve registration basis.

$5.4Mprogram expense
03

'iolani is a member of the interscholastic league of honolulu (ilh). All participants are expected to fulfill all athletic requirements, to display good sportsmanship, and to follow the program set forth by coaches and the athletic department.

$2.9Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
See all 5 funders →
Grants paid · 6 grants · $44.7M · 2019–2024
Unitemized GrantFY2024$8,762,915
Unitemized GrantFY2023$8,090,580
Unitemized GrantFY2022$7,566,970
Unitemized GrantFY2021$7,284,855
Unitemized GrantFY2020$7,227,381
Unitemized GrantFY2019$5,797,421

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$95.4M
Ln 12
Fees for servicesLn 2g$65.4M
Investment incomeLn 3$20.7M
Gifts and grantsLn 1h$8.9M
Money outPt IX
$80.5M
Ln 25
Programscol B$71.6M
Managementcol C$6.4M
Fundraisingcol D$2.5M
Owns and owesPt X
$274.7M
net assets · Ln 32
Cash and savingsLn 1–2$3.0M
Total assetsLn 16$353.5M
LiabilitiesLn 26$78.8M
PeoplePt VI, VII
32
listed · VII A
PaidVII A7
Voting boardVI 1a26
IndependentVI 1b23
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$8.9M
Noncash giftsLn 1g$2.3M
Fundraising eventsLn 1c$127K
Fees for servicesLn 2g$65.4M
Investment incomeLn 3$20.7M
Other incomeLn 4–11$383K
Gains on assetsLn 7$15.7M
Total revenueLn 12$95.4M
Assets in detailPt X, end of year
CashLn 1$1K
SavingsLn 2$3.0M
Cash and savings togetherLn 1–2$3.0M
InvestmentsLn 11–13$213.2M
Land, buildings, equipmentLn 10c$129.7M
Other assetsLn 15$3.5M
Total assetsLn 16$353.5M
LiabilitiesLn 26$78.8M
Net assetsLn 32$274.7M
OperationsPt I, VI
EmployeesI 51,328
VolunteersI 67,581
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$2.0M$3.0M
InvestmentsLn 11–13$248.6M$213.2M
Land, buildings, equipmentLn 10c$130.4M$129.7M
Total assetsLn 16$388.6M$353.5M
LiabilitiesLn 26$83.4M$78.8M
Net assetsLn 32$305.2M$274.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$7.3M$7.3M
Pay of current officers, directors and key staffLn 5$1.2M$279K$654K$279K
Pay of disqualified personsLn 6$200K$151K$49K
Other salaries and wagesLn 7$34.2M$32.0M$1.0M$1.2M
Pension plan contributionsLn 8$3.0M$2.5M$477K$25K
Other employee benefitsLn 9$7.3M$6.9M$135K$329K
Payroll taxesLn 10$3.0M$2.3M$682K$2K
Legal feesLn 11b$19K$19K
Accounting feesLn 11c$110K$110K
Investment management feesLn 11f$496K$496K
Other fees for servicesLn 11g$201K$201K
Advertising and promotionLn 12$162K$162K
Office expensesLn 13$5.2M$4.2M$735K$250K
Information technologyLn 14$608K$603K$5K
OccupancyLn 16$4.1M$4.0M$38K$37K
TravelLn 17$347K$195K$152K
InterestLn 20$1.3M$1.3M$30K$12K
Depreciation, depletion and amortizationLn 22$6.1M$6.0M$55K$55K
InsuranceLn 23$1.6M$1.6M$15K$15K
Other expenses (24a–d)Ln 24$2.8M$1.7M$915K$250K
All other expensesLn 24e$1.2M$617K$446K$95K
Total functional expensesLn 25$80.5M$71.6M$6.4M$2.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $110.8M$101.1M$9.7M$366.6M 990 PDF
FY2024 $104.9M$94.3M$10.6M$338.6M 990 PDF
FY2023 $99.3M$87.5M$11.8M$308.1M 990 PDF
FY2022 Viewing $95.4M$80.5M$15.0M$274.7M 990 PDF
FY2021 $96.7M$75.3M$21.5M$305.2M 990 PDF
FY2020 $76.0M$71.7M$4.3M$252.6M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $95,433,531 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $11,309,490$8,858,799
I-9 Program service revenuePrior year $59,636,590$65,446,271
I-10 Investment incomePrior year $25,487,025$20,745,887
I-11 Other revenuePrior year $280,506$382,574
I-12 Total revenuePrior year $96,713,611$95,433,531
I-13 Grants and similar amounts paidPrior year $7,227,381$7,284,855
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $47,455,950$48,919,274
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $20,569,044$24,261,925
I-18 Total expensesPrior year $75,252,375$80,466,054
I-19 Revenue less expensesPrior year $21,461,236$14,967,477
Part VI · Governance 23 of 26 board members independent, 1 to look at
VI-1a Voting members of the governing body26
VI-1b Independent voting members23
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $95,433,531 across 12 lines filed
Lines not itemized here account for $79,351 of total revenue; see the IRS return.
VIII-1c Fundraising events$126,770
VIII-1d Related organizations$38,000
VIII-1f All other contributions, gifts and grants$8,694,029
VIII-1g Noncash contributions (included above)$2,311,809
VIII-1h Total contributions, gifts and grants$8,858,799
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $65,446,271$65,446,271
VIII-3 Investment incomeExcluded from tax $5,089,137$5,089,137
VIII-6 Net rental income or lossExcluded from tax −$154,198−$154,198
VIII-7 Net gain or loss on sales of assetsExcluded from tax $15,656,750$15,656,750
VIII-8 Net income from fundraising eventsExcluded from tax $287,096$287,096
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $170,325$170,325
VIII-12 Total revenueRelated to mission $65,446,271 · Unrelated business $0 · Excluded from tax $21,128,461$95,433,531
Part IX · Statement of functional expenses $80,466,054 across 21 lines filed
IX-2 Grants to domestic individualsPrograms $7,284,855$7,284,855
IX-5 Pay of current officers, directors and key staffPrograms $279,028 · Management $653,930 · Fundraising $279,028$1,211,986
IX-6 Pay of disqualified personsPrograms $151,005 · Management $49,168$200,173
IX-7 Other salaries and wagesPrograms $32,006,479 · Management $1,000,254 · Fundraising $1,157,440$34,164,173
IX-8 Pension plan contributionsPrograms $2,537,081 · Management $477,127 · Fundraising $24,573$3,038,781
IX-9 Other employee benefitsPrograms $6,863,088 · Management $135,176 · Fundraising $329,140$7,327,404
IX-10 Payroll taxesPrograms $2,293,185 · Management $682,056 · Fundraising $1,516$2,976,757
IX-11b Legal feesManagement $18,899$18,899
IX-11c Accounting feesManagement $109,581$109,581
IX-11f Investment management feesManagement $496,224$496,224
IX-11g Other fees for servicesManagement $200,797$200,797
IX-12 Advertising and promotionManagement $161,527$161,527
IX-13 Office expensesPrograms $4,212,270 · Management $735,358 · Fundraising $250,106$5,197,734
IX-14 Information technologyPrograms $602,983 · Fundraising $4,783$607,766
IX-16 OccupancyPrograms $3,982,246 · Management $37,587 · Fundraising $36,686$4,056,519
IX-17 TravelPrograms $194,728 · Management $152,420$347,148
IX-20 InterestPrograms $1,305,982 · Management $29,528 · Fundraising $12,031$1,347,541
IX-22 Depreciation, depletion and amortizationPrograms $5,976,542 · Management $55,059 · Fundraising $55,059$6,086,660
IX-23 InsurancePrograms $1,608,727 · Management $14,816 · Fundraising $14,815$1,638,358
IX-24 Other expenses (24a–d)Programs $1,670,318 · Management $915,058 · Fundraising $250,068$2,835,444
IX-24e All other expensesPrograms $616,909 · Management $446,214 · Fundraising $94,604$1,157,727
IX-25 Total functional expensesPrograms $71,585,426 · Management $6,370,779 · Fundraising $2,509,849$80,466,054
Part X · Balance sheet $353,549,094 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $1,300$1,300
X-2 Savings and temporary cash investmentsStart of year $1,957,096$3,032,652
X-3 Pledges and grants receivableStart of year $2,697,814$2,065,374
X-4 Accounts receivableStart of year $102,381$108,410
X-8 Inventories for sale or useStart of year $171,606$163,425
X-9 Prepaid expenses and deferred chargesStart of year $1,855,493$1,762,454
X-10c Land, buildings and equipment, netStart of year $130,396,150$129,711,971
X-11 Publicly traded securitiesStart of year $248,581,325$213,214,074
X-15 Other assetsStart of year $2,826,691$3,489,434
X-16 Total assetsStart of year $388,589,856$353,549,094
X-17 Accounts payable and accrued expensesStart of year $7,365,752$7,790,691
X-19 Deferred revenueStart of year $3,361,977$4,091,028
X-25 Other liabilitiesStart of year $15,234,840$10,835,818
X-26 Total liabilitiesStart of year $83,374,940$78,831,906
X-27 Net assets without donor restrictionsStart of year $226,340,138$201,371,762
X-28 Net assets with donor restrictionsStart of year $78,874,778$73,345,426
X-32 Total net assets or fund balancesStart of year $305,214,916$274,717,188
X-33 Total liabilities and net assetsStart of year $388,589,856$353,549,094
Part XI · Reconciliation of net assets $274,717,188 net assets at year end
XI-1 Total revenue$95,433,531
XI-2 Total expenses$80,466,054
XI-3 Revenue less expenses$14,967,477
XI-4 Net assets at start of year$305,214,916
XI-5 Net unrealized gains (losses) on investments−$38,440,792
XI-9 Other changes in net assets−$7,024,413
XI-10 Net assets at end of year$274,717,188

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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