$1.7M in expenses

Depreciation: the club has acquired mutiple fixed assets which mostly consists of leasehold improvements. All assets are depreciated using the straightline method.

$2.5M in expenses

Payroll to develop and operate nanea golf course.

$3.0M in expenses

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.