2023-11-03T20:45:48-04:00 2022-12-31 852178774 KIMBERLY JONES CPA PO BOX 240819 HONOLULU HI 96824 990 2022-01-01 996064620 PARKER RANCH FOUNDATION TRUST PARK 8088857311 67-1349 ALA OHIA STREET KAMUELA HI 96743 TIMOTHY E JOHNS TRUSTEE CHAIR 8088857311 2023-11-02 true TIMOTHY JOHNS 999009999 false KIMBERLY JONES P00940140 8084608011 2023-11-03 X 2022 2023-04-26 12:10:37Z TIMOTHY E JOHNS C/O 67-1349 ALA OHIA STREET KAMUELA HI 96743 13003632 false X WWW.PRFT.ORG X 1992 HI PROVIDING PERPETUAL SUPPORT FOR DESIGNATED BENEFICIARIES ENGAGED IN HEALTHCARE, EDUCATION AND CHARITABLE PURPOSES FOR THE BENEFIT OF THE KAMUELA AREA, THROUGH THE SOUND MANAGEMENT AND PRUDENT INVESTMENT OF TRUST ASSETS. THE DESIGNATED BENEFICIARIES OF THE TRUST ARE QUEEN'S NORTH HAWAII COMMUNITY HOSPITAL, INC., RICHARD SMART FUND, A COMPONENT OF THE HAWAII COMMUNITY FOUNDATION, HAWAII PREPARATORY ACADEMY AND PARKER SCHOOL. 3 3 0 304610 13347 0 0 4842259 5192861 2330164 2646238 7172423 7839099 3675509 3675509 0 275000 275000 0 0 7718676 3083665 11669185 7034174 -4496762 804925 269073510 259782895 6682027 7072141 262391483 252710754 X TO PROVIDE PERPETUAL SUPPORT FOR DESIGNATED BENEFICIARIES ENGAGED IN HEALTHCARE, EDUCATION, AND CHARITABLE PURPOSES FOR THE BENEFIT OF THE KAMUELA AREA, THROUGH THE SOUND MANAGEMENT OF TRUST ASSETS. false false 3985478 3675509 PARKER RANCH FOUNDATION TRUST ("PRFT", THE "TRUST") WAS FORMED ON NOVEMBER 12, 1992. RICHARD SMART DEDICATED SUBSTANTIAL ASSETS FROM HIS PERSONAL ESTATE TO PRFT TO BE HELD FOR THE BENEFIT OF NAMED BENEFICIARIES. AT DECEMBER 31, 2022, SUCH NAMED BENEFICIARIES WERE HAWAII PREPARATORY ACADEMY, PARKER SCHOOL, QUEEN'S NORTH HAWAII COMMUNITY HOSPITAL AND THE HAWAII COMMUNITY FOUNDATION. SUCH TRANSFERRED ASSETS WERE COMPRISED PRIMARILY OF REAL ESTATE ON THE ISLAND OF HAWAII AND RANCH ASSETS/OPERATIONS KNOWN AS "PARKER RANCH." PRFT CURRENTLY HOLDS SOME REAL ESTATE AND RANCH ASSETS/OPERATIONS AS PARKER RANCH, INC. ("PRI"); A WHOLLY-OWNED, FOR PROFIT SUBSIDIARY. PRFT IS DIRECTED BY TRUSTEES WHO ARE RESPONSIBLE FOR MANAGING THE TRUST'S ASSETS IN ACCORDANCE WITH THE TRUST AGREEMENT AND SELECTION/OVERSIGHT OF DIRECTORS AND THE MANAGEMENT TEAM THAT RUNS THE PRI OPERATIONS. 3985478 true false false false false false false true false false true true false false true true false true false false false false false false false false false true false false false false false false false false false false false false false false true true true true false false true 14 0 false 0 true true false false false false false false false false false false false X 3 3 false false false false false true false true true false false true true true true true true true true false HI X CANDICE MEYER CO PARKER RANCH 8088857311 67-1349 ALA OHIA STREET KAMUELA HI 96743 X TIMOTHY E JOHNS TRUSTEE CHAI 24.00 8.00 X 95000 9700 0 MICHAEL K FUJIMOTO TRUSTEE 24.00 8.00 X 90000 11100 0 MICHAEL W GIBSON TRUSTEE 24.00 8.00 X 90000 9500 0 275000 30300 false false false NORTHERN TRUST 201 SOUTH LAKE AVE SUITE 600 PASADENA CA 91101 INVESTMENT MGMT 215888 CBRE INC 1003 BISHOP STREET SUITE 1800 HONOLULU HI 96813 LEGAL FEES 197477 CARLSMITH BALL LLP PO BOX 656 HONOLULU HI 96809 LEGAL FEES 176443 HAWAIIAN ELECTRIC 74-5519 KAIWI STREET KAILUAKONA HI 96740 ELECTRICAL WORK 162592 4 1348140 3703 1344437 2646238 2646238 2646238 300163 2346075 7113907 1895347 5080328 84205 2033579 1811142 3844721 744 3843977 7839099 304610 7534489 3675509 3675509 275000 275000 139875 34969 104906 75496 75496 215888 215888 267387 267387 4407 4407 12541 12541 1257 1257 91033 91033 701 701 128429 128429 441993 441993 147317 147317 G&A ALLOCATION INTERCO 1349943 1349943 REAL PROPERTY TAXES 204778 204778 CONTRACTUAL SERVICES 55403 55403 OTHER INSURANCE 6360 6360 -59143 -59143 7034174 3985478 3048696 0 X 2717136 3538364 181069 156755 92703 42703 13769 135017237 2493512 132600729 132523725 53935929 45555733 79077972 77512910 467972 438936 269073510 259782895 74569 96668 3675486 4025869 176859 321449 2650000 2550000 105113 78155 6682027 7072141 X 262391483 252710754 262391483 252710754 269073510 259782895 X 804925 -10146562 -339092 X X false true X true false X X 4 QUEEN'S NORTH HAWAII COMMUNITY HOSPITAL 990260423 3 true 1764245 0 HAWAII COMMUNITY FOUNDATION 990261283 7 true 735102 0 HAWAII PREPARATORY ACADEMY 990078306 2 true 588081 0 PARKER SCHOOL 990329799 2 true 588081 0 4 3675509 0 true false false false false false false false false false false false false false false true false 402640 X X false 130967919 130967919 3878198 2363980 1514218 167944 126356 41588 3176 3176 132523725 PARKER RANCH INC. 72052047 C PRIVATE EQUITY FUNDS 5460863 C 77512910 REFUNDABLE LEASE DEPOSITS 46976 DUE TO PARKER RANCH, INC. 22790 GET PAYABLE 9847 CREDIT CARD 132 POST-RETIRE BENEFITS PAYABLE -1590 78155 X SCHEDULE D, PAGE 2, PART III, LINE 4 THE FOUNDATION MAINTAINS A COLLECTION OF HISTORICAL BUILDINGS, ARTIFACTS AND HOUSEHOLD ITEMS TO EDUCATE THE PEOPLE OF HAWAII AND SHARE A VALUABLE AND UNIQUE PIECE OF HAWAII'S HISTORY WITH FUTURE GENERATIONS. THESE HISTORICAL ITEMS ARE CAREFULLY PRESERVED AND ARE SHOWCASED AT THE HEADQUARTERS OF PARKER RANCH, INC. AS WELL AS AT SELECTED LOCAL EVENTS THROUGHOUT THE YEAR. SCHEDULE D, PAGE 3, PART X MANAGEMENT EVALUATED THE TAX POSITIONS OF THE TRUST AND ITS SUBSIDIARIES AS OF DECEMBER 31, 2022 AND 2021 AND FOR THE YEARS THEN ENDED, BY REVIEWING ITS INCOME TAX RETURNS AND CONFERRING WITH ITS TAX ADVISORS, AND DETERMINED THAT THEY HAD NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRED TO BE REPORTED IN ACCORDANCE WITH U.S. GAAP. THE TRUST AND ITS SUBSIDIARIES ARE SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS IN PROGRESS FOR ANY OPEN TAX PERIODS. true QUEEN'S NORTH HAWAII COMMUNITY HOSPITAL 67-1125 MAMALAHOA HIGHWAY KAMUELA HI 96743 990260423 501C3 1764245 FMV SEE PART IV HAWAII COMMUNITY FOUNDATION 827 FORT STREET MALL HONOLULU HI 96813 990261283 501C3 735102 FMV SEE PART IV HAWAII PREPARATORY ACADEMY 65-1692 KOHALA MOUNTAIN ROAD KAMUELA HI 967438476 990078306 501C3 588081 FMV SEE PART IV PARKER SCHOOL 65-1224 LINDSEY ROAD KAMUELA HI 96743 990329799 501C3 588081 FMV SEE PART IV SCHEDULE I, PAGE 1, PART I, LINE 2 PRFT IS A TYPE 1 SUPPORTING ORGANIZATION AND DISTRIBUTES GRANTS TO ITS FOUR BENEFICIARY 501(C)(3) ORGANIZATIONS IN THE KAMUELA AREA. THESE RECIPIENT ORGANIZATIONS HAVE A RESPONSIBILITY TO USE CONTRIBUTIONS RECEIVED IN ACCORDANCE WITH THEIR OWN EXEMPT PURPOSE. SCHEDULE I, PAGE 4, PART IV SUPPLEMENTAL INFORMATION FOR PART II, LINE 1, COLUMN (H), PURPOSE OF GRANT OR ASSISTANCE - SUPPORT IS FOR GENERAL ASSISTANCE FOR EACH RESPECTIVE ORGANIZATION IN THE KAMUELA AREA. FORM 990, PAGE 2, PART III, LINE 4A PARKER RANCH FOUNDATION TRUST ("PRFT", THE "TRUST") WAS FORMED ON NOVEMBER 12, 1992. RICHARD SMART DEDICATED SUBSTANTIAL ASSETS FROM HIS PERSONAL ESTATE TO PRFT TO BE HELD FOR THE BENEFIT OF NAMED BENEFICIARIES. AT DECEMBER 31, 2022, SUCH NAMED BENEFICIARIES WERE HAWAII PREPARATORY ACADEMY, PARKER SCHOOL, QUEEN'S NORTH HAWAII COMMUNITY HOSPITAL AND THE HAWAII COMMUNITY FOUNDATION. SUCH TRANSFERRED ASSETS WERE COMPRISED PRIMARILY OF REAL ESTATE ON THE ISLAND OF HAWAII AND RANCH ASSETS/OPERATIONS KNOWN AS "PARKER RANCH." PRFT CURRENTLY HOLDS SOME REAL ESTATE AND RANCH ASSETS/OPERATIONS AS PARKER RANCH, INC. ("PRI"); A WHOLLY-OWNED, FOR PROFIT SUBSIDIARY. PRFT IS DIRECTED BY TRUSTEES WHO ARE RESPONSIBLE FOR MANAGING THE TRUST'S ASSETS IN ACCORDANCE WITH THE TRUST AGREEMENT AND SELECTION/OVERSIGHT OF DIRECTORS AND THE MANAGEMENT TEAM THAT RUNS THE PRI OPERATIONS. FORM 990, PAGE 6, PART VI, LINE 7A SELECTION OF TRUSTEES IS CONTROLLED BY THE CHARITABLE ORGANIZATIONS IT SUPPORTS, WITHIN THE MEANING OF IRC SECTION 509(A)(3)(B)(I) AND THE REGULATIONS THEREUNDER. FORM 990, PAGE 6, PART VI, LINE 11B COPIES OF FORM 990 ARE PROVIDED TO ALL TRUSTEES OF PARKER RANCH FOUNDATION TRUST PRIOR TO FILING THE RETURN. DURING THIS TIME THE TRUSTEES ARE PROVIDED THE OPPORTUNITY TO REVIEW, COMMENT AND SUBMIT BACK TO THE TAX PREPARER ANY CHANGES OR MODIFICATIONS DEEMED APPROPRIATE. FORM 990, PAGE 6, PART VI, LINE 12C THE PARKER RANCH FOUNDATION TRUST REQUIRES THAT A WRITTEN AND SIGNED CONFLICT OF INTEREST POLICY BE COMPLETED ANNUALLY IN THE BEGINNING OF THE YEAR. ALL SIGNED STATEMENTS ARE THEN REVIEWED ANNUALLY BY THE BOARD OF TRUSTEES AT THE FEBRUARY TRUSTEE MEETING. IN ADDITION, THE ORGANIZATION HAS A STANDING POLICY WHICH REQUIRES CONFLICT OF INTEREST STATEMENTS BE COMPLETELY REDONE AND RESUBMITTED ONCE ANY PARTY IS AWARE OF ANY CHANGES. FORM 990, PAGE 6, PART VI, LINE 15A COMPENSATION TO THE TRUSTEE CHAIR OF THE PARKER RANCH FOUNDATION TRUST IS ESTABLISHED BY THE FOUR TRUST BENEFICIARIES WHO ARE SUPPORTED ORGANIZATIONS OF THE TRUST. COMPENSATION LEVELS FOR THE TRUSTEE CHAIR REMAINED UNCHANGED FROM 2012 THROUGH 2022. THE TRUST DOES NOT HAVE OFFICERS OR EMPLOYEES. FORM 990, PAGE 6, PART VI, LINE 15B COMPENSATION TO THE TRUSTEES OF THE PARKER RANCH FOUNDATION TRUST IS ESTABLISHED BY THE FOUR TRUST BENEFICIARIES WHO ARE SUPPORTED ORGANIZATIONS OF THE TRUST. COMPENSATION LEVELS FOR THE TRUSTEES REMAINED UNCHANGED FROM 2012 THROUGH 2022. THE TRUST DOES NOT HAVE OFFICERS OR EMPLOYEES. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE FOR VIEWING TO INTERESTED PARTIES UPON REQUEST. FORM 990, PART VII SECTION A, COLUMN B ALL TRUSTEES SPENT APPROXIMATELY 8 HOURS A WEEK ON AVERAGE ON RELATED ORGANIZATIONS. FORM 990, PART X BANK LOAN FOR WHICH PRFT IS LISTED AS CO-OBLIGOR 26,528,624 OFFSET TO BANK LOAN - PORTION TO BE PAID BY CO-OBLIGOR (26,528,624) TOTAL TO BALANCE SHEET, LINE 23 0 FORM 990, PART XI, LINE 9 PTSHP K-1 NET INVEST. INC. ADJ. 11,291 BENEFICIARY ADJ. (SEE DETAIL BELOW) -350,383 TOTAL -339,092 BENEFICIARY DISTRIBUTIONS ADJUSTMENT DETAIL: ADJUSTMENT FOR CASH BASIS PRESENTATION ON INCOME STATEMENT, ACCRUAL BASIS PRESENTATION ON BALANCE SHEET REVERSE CASH BASIS EXPENSE FOR DISTRIBUTIONS PAID IN CURRENT YEAR, ACCRUED IN PRIOR YEAR 3,675,486 RECORD ACCRUAL BASIS EXPENSE FOR DISTRIBUTIONS ACCRUED IN CURRENT YEAR, TO BE PAID IN SUBSEQUENT YEAR (4,025,869) ------------ TOTAL TO FORM 990, PART XI, LINE 9 ( 350,383) FORM 990, PAGE 12, PART XII, LINE 2C THE ORGANIZATION HAS AN AUDIT COMMITTEE WHICH IS RESPONSIBLE FOR THE SELECTION OF INDEPENDENT ACCOUNTANTS AND FOR REVIEWING THE AUDITED FINANCIAL STATEMENTS. NO CHANGES WERE MADE TO THE REVIEW PROCESS FROM THE PRIOR YEAR. 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