'Iolani School 
The information on this page was last updated 6/21/2022. If you see errors or omissions, please email: [email protected]
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: [email protected]
Organization details
EIN: 990073502
CEO/President: Timothy R. Cottrell
Chairman: Mark M. Mugiishi, M.D.
Board size: 24
Founder: Rev. George Mason
Ruling year: 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
Donor confidence score
Transparency grade
D
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: K-12 Schools/Academies
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 503 of 1031 | 26 of 47 |
| Fund acquisition rating | | 666 of 1032 | 36 of 47 |
| Resource allocation rating | | 228 of 1032 | 5 of 47 |
| Asset utilization rating | | 635 of 1031 | 35 of 47 |
Financial ratios
| Funding ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 12% | 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 | 14% | 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 | 86% | 88% | 88% | 91% | 87% | 96% |
| Operating ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
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 | 77% | 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 | 4% | 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 ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.44 | 0.20 | 0.19 | 0.19 | 0.20 | 0.21 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 3.29 | 1.63 | 1.58 | 1.47 | 1.45 | 1.49 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.57 | 0.33 | 0.30 | 0.28 | 0.29 | 0.31 |
| Liquidity ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Current ratio Current ratio = Total current assets / Total current liabilities | 3.23 | 26.39 | 20.12 | 18.82 | 22.78 | 21.12 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.31 | 0.04 | 0.05 | 0.05 | 0.04 | 0.05 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 4.03 | 34.94 | 38.09 | 39.94 | 39.80 | 36.42 |
| Solvency ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 32% | 28% | 26% | 21% | 18% | 20% |
Debt ratio Debt ratio = Debt / Total assets | 14% | 20% | 20% | 14% | 11% | 13% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 134% | 352% | 391% | 408% | 412% | 380% |
Financials
| Balance sheet | |||||
| Assets | 2020 | 2019 | 2018 | 2017 | 2016 |
| 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 |
| Liabilities | 2020 | 2019 | 2018 | 2017 | 2016 |
| 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 assets | 2020 | 2019 | 2018 | 2017 | 2016 |
| 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 | |||||
| Revenue | 2020 | 2019 | 2018 | 2017 | 2016 |
| 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 |
| Expenses | 2020 | 2019 | 2018 | 2017 | 2016 |
| 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 assets | 2020 | 2019 | 2018 | 2017 | 2016 |
| 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
| Name | Title | Compensation |
| Timothy R Cottrell | Head of School, Ex Officio | $813,743 |
| Kimberly Hagi | Executive Dir. Of Advancement | $301,239 |
| Reid Gushiken | Chief Financial Officer | $281,332 |
| Aster Chin | Dean of Upper School | $259,625 |
| Burl Brown | Dean of Students | $189,791 |
| Zachary Linnert | Associate Dean of Lower School | $185,674 |
| Linda Look | Dean 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 6/21/2022. To update the information below, please email: [email protected]
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)
Interscholastic League of Honolulu (ILH)
Hawai'i High School Athletic Association (HHSAA)