NANEA GOLF CLUB INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2000

Legal Domicile

Principal Officer

DAN ROSE

Phone

8089301302

Tax Period

2024-01-01 to 2024-12-31

NANEA GOLF CLUB INC, founded in 2000, is a community nonprofit in the Recreation & Sports sector that reported $4.3M in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year. Expenses of $8.1M exceeded revenue, resulting in a 89% operating deficit.

Mission

TO DEVELOP AND OPERATE NANEA GOLF COURSE

Program Service Accomplishments

Program 1

Expenses: $1,733,621

DEPRECIATION: THE CLUB HAS ACQUIRED MUTIPLE FIXED ASSETS WHICH MOSTLY CONSISTS OF LEASEHOLD IMPROVEMENTS. ALL ASSETS ARE DEPRECIATED USING THE STRAIGHTLINE METHOD.

Program 2

Expenses: $2,545,875

PAYROLL TO DEVELOP AND OPERATE NANEA GOLF COURSE.

Program 3

Expenses: $3,049,434

NANEA GOLF CLUB INC: NANEA GOLF CLUB, INC. (FORMERLY KNOWN AS KEKAHA VENTURE, INC.), (THE "CLUB") WAS ORGANIZED ON FEBRUARY 11, 2000, BY THE TWO FOUNDING MEMBERS AS A NONPROFIT, MUTUAL BENEFIT...

NANEA GOLF CLUB INC: NANEA GOLF CLUB, INC. (FORMERLY KNOWN AS KEKAHA VENTURE, INC.), (THE "CLUB") WAS ORGANIZED ON FEBRUARY 11, 2000, BY THE TWO FOUNDING MEMBERS AS A NONPROFIT, MUTUAL BENEFIT CORPORATION FORMED UNDER THE LAWS OF THE STATE OF HAWAI'I. THE PURPOSE OF THE CLUB IS TO DEVELOP AND OPERATE THE NANEA GOLF CLUB ON THE KONA COAST OF THE ISLAND OF HAWAI'I. THE CLUB INCLUDES AN 18-HOLE GOLF COURSE AND RELATED CLUBHOUSE FACILITIES. FOR INCOME TAX PURPOSES, THE CLUB WAS CONSIDERED COMPLETED ON JUNE 30, 2004.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $9,604,298

Investment Income $362,504

Other Revenue $-5,662,172

TOTAL REVENUE $4,304,630

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,828,752

Fundraising Expenses $0

Program Expenses $7,328,930

Other Expenses $5,314,507

TOTAL EXPENSES $8,143,259

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,304,630	$4,887,088	-0.1%
Expenses	$8,143,259	$8,231,189	0.0%
Net Income	$-3,838,629	$-3,344,101	+0.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

223

Independent Members

223

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$213,684

Total Directors

$205,824

Key Employees

$256,256

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHARLES R SCHWAB	DIRECTOR	1.00	Director	$0	$0	$0
GEORGE ROBERTS	DIRECTOR	1.00	Director	$0	$0	$0
FRANK C HERRINGER	VICE PRES., DIRECTOR	1.00	Officer Director	$0	$0	$0
DAN ROSE	PRESIDENT, DIRECTOR	1.00	Officer Director	$0	$0	$0
JENNIFER SILLS	SECRETARY, DIRECTOR	1.00	Officer Director	$0	$0	$0
ROBERT MOMSEN	DIRECTOR	1.00	Director	$0	$0	$0
DAVID ZIERK	DIRECTOR	1.00	Director	$0	$0	$0
ABIGAIL DURBAN	DIRECTOR	1.00	Director	$0	$0	$0
GEOFFREY YANG	DIRECTOR	1.00	Director	$0	$0	$0
RAUL ROBAYO	EXECUTIVE CHEF	48.00	Director	$179,322	$26,502	$205,824
STACIE KAIWI-MACHEN	TREASURER	48.00	Officer	$185,877	$27,807	$213,684
KRISTOPHER FELTE	GENERAL MANAGER	48.00	Key Emp	$222,710	$33,546	$256,256
SCOTT MAIN	GOLF COURSE SUPERINTENDENT	48.00	Highest	$244,816	$32,414	$277,230
CHRISTOPHER KEITER	DIRECTOR OF GOLF	48.00	Highest	$162,850	$22,751	$185,601

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$4,304,630	$8,143,259	$38,210,904	$-3,838,629
2023	$4,887,088	$8,231,189	$39,700,657	$-3,344,101
2022	$4,368,725	$7,419,130	$40,798,923	$-3,050,405
2021	$3,990,807	$6,926,079	$40,040,878	$-2,935,272
2020	$2,962,715	$6,962,621	$37,106,902	$-3,999,906
2019	$3,645,549	$7,013,603	$40,070,342	$-3,368,054
2018	$6,962,490	$9,660,906	$42,196,696	$-2,698,416