TY 2015 Form 990

(A)
Name and Title

(B)
Average hours per week (list any hours for related organizations below dotted line)

(D)
Reportable compensation from the organization (W- 2/1099-MISC)

(E)
Reportable compensation from related organizations (W- 2/1099-MISC)

(F)
Estimated amount of other compensation from the organization and related organizations

(1) PAUL TOMAR......................................................................
PRESIDENT

0.75
.................
0.0

(2) TIM KELLEY......................................................................
VICE PRESIDENT

0.75
.................
0.0

(3) JAIME HIGGINS......................................................................
TREASURER

0.75
.................

(4) RHEA YAMASHIRO......................................................................
SECRETARY

0.75
.................
0.0

(5) DAVID ROOT......................................................................
BOARD MEMBER

0.75
.................
0.0

(6) MARTY BLACK......................................................................
BOARD MEMBER

0.75
.................
0.0

(7) LLOYD CHAFFIN......................................................................
BOARD MEMBER

0.75
.................
0.0

(8) CHARLENE VAN DE PYLE-CHEE......................................................................
BOARD MEMBER

0.75
.................
0.0

(9) RK BEERS......................................................................
BOARD MEMBER

0.75
.................
0.0

(10) BRUCE NAGEL......................................................................
CLUB MANAGER

40.0
.................
0.0

107,350

(A)
Name and Title

(B)
Average hours per week (list any hours for related organizations below dotted line)

(D)
Reportable compensation from the organization (W- 2/1099-MISC)

(E)
Reportable compensation from related organizations (W- 2/1099-MISC)

(F)
Estimated amount of other compensation from the organization and related organizations

(A)
Name and business address

(B)
Description of services

Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet


a	Total number of conservation easements ......................	2a
b	Total acreage restricted by conservation easements ....................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after 8/17/06, and not on a historic structure listed in the National Register ...	2d


b	If "Yes," explain the arrangement in Part XIII and complete the following table:		Amount
c	Beginning balance .............................	1c
d	Additions during the year ............................	1d
e	Distributions during the year ..........................	1e
f	Ending balance ................................	1f

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......	1
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d .....................	2e
3	Subtract line 2e from line 1..................	3
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b....................	4c
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......	5

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........	1
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities .........	2a
b	Prior year adjustments ............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d....................	2e
3	Subtract line 2e from line 1...................	3
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a
b	Other (Describe in Part XIII.) ............	4b
c	Add lines 4a and 4b.....................	4c
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......	5

- TIN:

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet

Attach to Form 990 or 990-EZ.
MediumBullet

Information about Schedule O (Form 990 or 990-EZ) and its instructions is at
www.irs.gov/form990.

OMB No. 1545-0047

2015

Open to Public
Inspection

Name of the organization

KAILUA RACQUET CLUB LTD

Employer identification number

99-0077889

Return Reference	Explanation
PART VI, LINE 6	PRIOR TO 1997, MEMBERS PURCHASED COMMON STOCK. AS THE REGULAR MEMBERS RESIGN, THEY ARE PAID FOR THEIR APPRECIATED STOCK AND ALL NEW MEMBERS ARE NOT STOCKHOLDERS
PART VI, LINE 15A	THE GOVERNING BODY OBTAINS ANNUAL REPORTS COMPARING CLUB MANAGERS' COMPENSATION ACROSS THE COUNTRY
PART VI, 11A	FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR BEFORE IT IS SIGNED AND FILED
PART X1, LINE 9	STOCK RETIREMENTS $ (6,200) STOCK REDUCTION ( 50) 50% BUSINESS MEALS (1,317) FEDERAL INCOME TAX (2,587) TOTAL $ (10,154)
FORM 990 PART IX LINE 24 - OTHER EXPENSES	DESCRIPTION:REAL PROPERTY TAX TOTAL EXPENSES:13065
FORM 990 PART IX LINE 24 - OTHER EXPENSES	DESCRIPTION:WATER TOTAL EXPENSES:13179
FORM 990 PART IX LINE 24 - OTHER EXPENSES	DESCRIPTION:CONTRACT SERVICES TOTAL EXPENSES:12563
FORM 990 PART IX LINE 24 - OTHER EXPENSES	DESCRIPTION:GENERAL EXCISE TAXES TOTAL EXPENSES:4850
FORM 990 PART IX LINE 24 - OTHER EXPENSES	DESCRIPTION:BUSINESS MEALS 50% TOTAL EXPENSES:1318
FORM 990 PART IX LINE 24 - OTHER EXPENSES	DESCRIPTION:GAS TOTAL EXPENSES:16865
FORM 990 PART IX LINE 24 - OTHER EXPENSES	DESCRIPTION:OPERATING SUPPLIES TOTAL EXPENSES:1385
FORM 990 PART IX LINE 24 - OTHER EXPENSES	DESCRIPTION:POOL EXPENSE TOTAL EXPENSES:3330
FORM 990 PART IX LINE 24 - OTHER EXPENSES	DESCRIPTION:KITCHEN & SNACK BAR SUPPLIES TOTAL EXPENSES:3172
FORM 990 PART IX LINE 24 - OTHER EXPENSES	DESCRIPTION:CABLE TELEVISION TOTAL EXPENSES:3162
FORM 990 PART IX LINE 24 - OTHER EXPENSES	DESCRIPTION:BANK CHARGES TOTAL EXPENSES:914
FORM 990 PART IX LINE 24 - OTHER EXPENSES	DESCRIPTION:DUES & SUBSCRIPTIONS TOTAL EXPENSES:1592
FORM 990 PART IX LINE 24 - OTHER EXPENSES	DESCRIPTION:LICENSES & MISCELLANEOUS TAXES TOTAL EXPENSES:186
FORM 990 PART IX LINE 24 - OTHER EXPENSES	DESCRIPTION:ANNUAL MEETING TOTAL EXPENSES:1467
FORM 990 PART IX LINE 24 - OTHER EXPENSES	DESCRIPTION:COMPUTER EXPENSE TOTAL EXPENSES:1523
FORM 990 PART IX LINE 24 - OTHER EXPENSES	DESCRIPTION:PROFESSIONAL DEVELOPMENT TOTAL EXPENSES:3435
FORM 990 PART IX LINE 24 - OTHER EXPENSES	DESCRIPTION:POSTAGE & DELIVERY TOTAL EXPENSES:860
FORM 990 PART IX LINE 24 - OTHER EXPENSES	DESCRIPTION:MISCELLANEOUS EXPENSE TOTAL EXPENSES:288
FORM 990 PART IX LINE 24 - OTHER EXPENSES	DESCRIPTION:AMORTIZATION TOTAL EXPENSES:637
FORM 990 PART IX LINE 24 - OTHER EXPENSES	DESCRIPTION:GIFTS TOTAL EXPENSES:1440
FORM 990 PART IX LINE 24 - OTHER EXPENSES	DESCRIPTION:STATE INCOME TAXES TOTAL EXPENSES:930

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2015

Additional Data

Software ID:
Software Version:

1	Briefly describe the organization’s mission or most significant activities: TO PROVIDE A SOCIAL CLUB TO FOSTER, CULTIVATE & ENCOURAGE SOCIAL RELATIONS & CLOSER PERSONAL ACQUAINTANCE AMONG ITS MEMBERS
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	9
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	9
5	Total number of individuals employed in calendar year 2015 (Part V, line 2a) ......	5	6
6	Total number of volunteers (estimate if necessary) .............	6	0
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	50,675
b	Net unrelated business taxable income from Form 990-T, line 34 .........	7b	17,068

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	389,990	414,801
9	Program service revenue (Part VIII, line 2g) .........	97,404	75,140
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	-2,724	-2,432
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	24,898	36,983
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	509,568	524,492
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	0	0
14	Benefits paid to or for members (Part IX, column (A), line 4).....	0	0
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	154,690	162,881
16a	Professional fundraising fees (Part IX, column (A), line 11e) .....	0	0
b	Total fundraising expenses (Part IX, column (D), line 25) 0
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	310,613	304,779
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	465,303	467,660
19	Revenue less expenses. Subtract line 18 from line 12.......	44,265	56,832
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	648,037	677,541
21	Total liabilities (Part X, line 26).............	185,186	168,012
22	Net assets or fund balances. Subtract line 21 from line 20.....	462,851	509,529

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )
	TO PROVIDE A SOCIAL CLUB TO FOSTER, CULTIVATE & ENCOURAGE SOCIAL RELATIONS & CLOSER PERSONAL ACQUAINTANCE AMONG ITS MEMBERS

4b	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4c	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4d	Other program services (Describe in Schedule O.)
	(Expenses $ including grants of $ ) (Revenue $ )
4e	Total program service expenses

1b	Sub-Total................
c	Total from continuation sheets to Part VII, Section A....
d	Total (add lines 1b and 1c)...........	107,350	0	0

(A) Name and business address	(B) Description of services	(C) Compensation





2 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 0

1a	Federated campaigns..		1a
b	Membership dues..		1b	413,291
c	Fundraising events..		1c
d	Related organizations		1d
e	Government grants (contributions)		1e

f	All other contributions, gifts, grants, and similar amounts not included above		1f	1,510

g	Noncash contributions included in lines 1a-1f:$
h Total.Add lines 1a-1f.......		414,801

			Business Code
2a	TOURNAMENTS	711210	72,440	42,963	29,477
b	LEAGUE INCOME		2,700	2,700
c
d
e
f	All other program service revenue.
g Total.Add lines 2a–2f.....			75,140

3 Investment income (including dividends, interest, and othersimilar amounts) ..........			374	369
4 Income from investment of tax-exempt bond proceeds			0
5 Royalties...........			0
		(ii) Personal	(i) Real
6a	Gross rents		27,497
b	Less: rental expenses
c	Rental income or (loss)	0	27,497
d	Net rental income or (loss)......			27,497	8,999	21,198
		(ii) Other	(i) Securities
7a	Gross amount from sales of assets other than inventory
b	Less: cost or other basis and sales expenses	2,806
c	Gain or (loss)	-2,806
d	Net gain or (loss).....			-2,806
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ....
	a
b	Less: direct expenses ...b
c	Net income or (loss) from fundraising events..			0
9a	Gross income from gaming activities. See Part IV, line 19 ...
	a
b	Less: direct expenses ...b
c	Net income or (loss) from gaming activities..			0
10a	Gross sales of inventory, less returns and allowances ..
	a		108,085
b	Less: cost of goods sold ..b		107,338
c	Net income or (loss) from sales of inventory..			747
Business Code			Miscellaneous Revenue
11a	MISCELLANEOUS INCOME			1,440	1,440
b	CLUB PARTIES			2,530	2,530
c	GUEST FEES			4,314	4,314
d	All other revenue ....			455	455
e	Total. Add lines 11a–11d ......			8,739
12	Total revenue. See Instructions......			524,492	63,770	50,675

1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21	0
2	Grants and other assistance to individuals in the United States. See Part IV, line 22	0
3	Grants and other assistance to governments, organizations, and individuals outside the United States. See Part IV, lines 15 and 16	0
4	Benefits paid to or for members	0
5	Compensation of current officers, directors, trustees, and key employees ....	107,350
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ....	0
7	Other salaries and wages	51,173
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	0
9	Other employee benefits .......	0
10	Payroll taxes ...........	4,358
11	Fees for services (non-employees):
a	Management ......	0
b	Legal .........	0
c	Accounting ...........	4,306
d	Lobbying ...........	0
e	Professional fundraising services. See Part IV, line 17	0
f	Investment management fees ......	0
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)	0
12	Advertising and promotion ....	770
13	Office expenses .......	1,102
14	Information technology ......	0
15	Royalties ..	0
16	Occupancy ...........	0
17	Travel ............	0
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .	0
19	Conferences, conventions, and meetings ....	0
20	Interest ...........	4,295
21	Payments to affiliates .......	0
22	Depreciation, depletion, and amortization ..	52,484
23	Insurance ...	25,812
24	Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a	TOURNAMENT EXPENSE	51,001
b	ELECTRICITY	31,388
c	TELEPHONE	1,280
d	REPAIRS & MAINTENANCE	46,180
e	All other expenses	86,161
25	Total functional expenses. Add lines 1 through 24e	467,660
26	Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).

1	Cash–non-interest-bearing ........			159,661	1	207,125
2	Savings and temporary cash investments .........			0	2	0
3	Pledges and grants receivable, net ......			0	3	0
4	Accounts receivable, net .............			46,725	4	53,556
5	Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of Schedule L
				0	5	0
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L
				0	6	0
7	Notes and loans receivable, net ....			0	7	0
8	Inventories for sale or use ........			4,559	8	4,100
9	Prepaid expenses and deferred charges ......			14,220	9	13,515
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	1,914,878
b	Less: accumulated depreciation	10b	1,517,379	420,489	10c	397,499
11	Investments—publicly traded securities .			0	11	0
12	Investments—other securities. See Part IV, line 11 .....			0	12	0
13	Investments—program-related. See Part IV, line 11 ..			0	13	0
14	Intangible assets ...............			0	14	0
15	Other assets. See Part IV, line 11 ...........			2,383	15	1,746
16	Total assets. Add lines 1 through 15 (must equal line 34)...			648,037	16	677,541

17	Accounts payable and accrued expenses .....	3,182	17	1,610
18	Grants payable ...	0	18	0
19	Deferred revenue .........	30,530	19	31,035
20	Tax-exempt bond liabilities .........	0	20	0
21	Escrow or custodial account liability. Complete Part IV of Schedule D	0	21	0
22	Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
	persons. Complete Part II of Schedule L..	0	22	0
23	Secured mortgages and notes payable to unrelated third parties ..	99,528	23	79,871
24	Unsecured notes and loans payable to unrelated third parties ..	0	24	0
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D	51,946	25	55,496
26	Total liabilities. Add lines 17 through 25..	185,186	26	168,012

	Organizations that follow SFAS 117 (ASC 958), check here and complete lines 27 through 29, and lines 33 and 34.
27	Unrestricted net assets		27
28	Temporarily restricted net assets ...........		28
29	Permanently restricted net assets		29
	Organizations that do not follow SFAS 117 (ASC 958), check here and complete lines 30 through 34.
30	Capital stock or trust principal, or current funds .....	630	30	580
31	Paid-in or capital surplus, or land, building or equipment fund ...	0	31	0
32	Retained earnings, endowment, accumulated income, or other funds	462,221	32	508,949
33	Total net assets or fund balances ...........	462,851	33	509,529
34	Total liabilities and net assets/fund balances ........	648,037	34	677,541

1	Total number at end of year ....
2	Aggregate value of contributions to (during year)
3	Aggregate value of grants from (during year)
4	Aggregate value at end of year ....

1a	Beginning of year balance ....
b	Contributions ...
c	Net investment earnings, gains, and losses
d	Grants or scholarships ...
e	Other expenditures for facilities and programs ...
f	Administrative expenses ....
g	End of year balance ......

1a	Land ...	47,595		47,595
b	Buildings	525,095	415,634	109,461
c	Leasehold improvements	986,662	802,154	184,508
d	Equipment ...	272,258	254,745	17,513
e	Other ...	83,268	44,846	38,422
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..				397,499

(a) Description of investment	(b) Book value	(c) Method of valuation: Cost or end-of-year market value

(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)

(a) Description of security or category (including name of security)	(b)Book value	(c)Method of valuation: Cost or end-of-year market value
(1)Financial derivatives
(2)Closely-held equity interests
(3)Other
(A)
(B)
(C)
(D)
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)

1.(a) Description of liability	(b) Book value
(1) Federal income taxes	0
MEMBER DEPOSITS	55,496
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)	55,496
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII