2019-05-15T19:46:19-05:00 2018-06-30 KPMG LLP 1003 Bishop Street Suite 2100 Honolulu HI 96813 990 2017-07-01 990073523 PUNAHOU SCHOOL % JILL KAWANO PUNA 8089445711 1601 PUNAHOU STREET HONOLULU HI 96822 JOHN D FIELD JR VP & TREASURER 8089445711 2019-05-15 true CANDACE C CHING P01698370 8085402800 2019-05-15 167.68.102.5 99005920191355000001 2019-05-15 P C04C01341DD2C454CF2F26065B0A0A988140C2FE 369E5A1C6A2DDA29EAA06BCCC6FA42E233A5B77D 2017 2019-02-21 02:37:17Z JOHN D FIELD JR 1601 PUNAHOU STREET HONOLULU HI 96822 140425075 false X WWW.PUNAHOU.EDU X 1853 HI PUNAHOU SCHOOL IS A PRIMARY AND SECONDARY SCHOOL THAT IS RECOGNIZED FOR ITS ACADEMIC EXCELLENCE, ATHLETICS, AND EXTRACURRICULAR ACTIVITIES FOR MORE THAN 3750 STUDENTS IN GRADES K-12. 16 16 2259 5000 -7225 -199919 27438256 17463918 97304678 100354601 2360511 2906907 932355 847846 128035800 121573272 6802705 7393780 0 0 74933059 78851650 462991 27100 4740800 29073863 30931538 111272618 117204068 16763182 4369204 458517453 473773839 44952039 46606876 413565414 427166963 X PUNAHOU IS COMMITTED TO PROVIDE AN ENVIRONMENT WHERE STUDENTS CAN DEVELOP MORAL AND SPIRITUAL VALUES CONSISTENT WITH THE CHRISTIAN PRINCIPLES ON WHICH PUNAHOU WAS FOUNDED, AFFIRMING THE WORTH AND DIGNITY OF EACH INDIVIDUAL; DEVELOP INTELLECTUAL, ACADEMIC AND PHYSICAL POTENTIAL TO THE FULLEST DEGREE, PREPARING THEM FOR HIGHER EDUCATION AND FOR CHALLENGES FACING THEM NOW AND IN THE FUTURE; DEVELOP AND ENHANCE CREATIVITY AND APPRECIATION FOR THE ARTS; APPRECIATE CULTURAL DIVERSTIY AND DEVELOP SOCIAL RESPONSIBILTY. FOUNDED IN 1841, PUNAHOU SCHOOL IS THE LARGEST INDEPENDENT SCHOOL IN AMERICA. IT IS A PRIVATELY OPERATED SCHOOL SERVING CHILDREN FROM EVERY RACIAL, RELIGIOUS, SOCIAL AND ECONOMIC GROUP IN HAWAII. PUNAHOU HAS FACULTY AND ACADEMIC SUPPORT STAFF OF APPROXIMATELY 600, SERVING ABOUT 3,750 STUDENTS FROM KINDERGARTEN TO GRADE 12. THE SCHOOL IS DIVIDED INTO TWO MAJOR DIVISIONS: THE JUNIOR SCHOOL (KINDERGARTEN TO GRADE 8) AND THE ACADEMY (GRADES 9 TO 12), EACH WITH ITS OWN PRINCIPAL. IN false false 85609245 7330927 93715126 ACADEMIC CURRICULUM - PUNAHOU SCHOOL IS A COEDUCATIONAL COLLEGE PREPATORY DAY SCHOOL OFFERING EDUCATIONAL EXCELLENCE. MORE THAN 96 PERCENT OF PUNAHOU GRADUATES GO ON TO ATTEND COLLEGE. CURRENTLY, PUNAHOU IS DIVIDED INTO THE JUNIOR SCHOOL, KINDERGARTEN THROUGH GRADE 8, AND THE ACADEMY, GRADES 9-12. THE JUNIOR SCHOOL (K-8) IS COMPOSED OF THREE SECTIONS WITH A PRINCIPAL AND FIVE SUPERVISORS OVERSEEING APPROXIMATELY 2,000 STUDENTS. THESE SMALLER, SELF-CONTAINED SECTIONS FOR K-2, 3-5 AND 6-8 ARE DESIGNED TO MEET THE SPECIAL NEEDS OF THESE GROUPS OF CHILDREN. SUPPLEMENTAL EDUCATION, SUCH AS OUTDOOR AND CAMP EXPERIENCES, ARE ALSO OFFERED IN THE JUNIOR SCHOOL. THE CASE MIDDLE SCHOOL WAS COMPLETED IN 2005 FOR GRADES 6-8. THIS EXPANDED AREA OF CAMPUS WAS DESIGNED TO SUPPORT AN EDUCATION PROGRAM DESIGNED SPECIFICALLY TO MEET THE INTELLECTUAL AND SOCIAL NEEDS OF EARLY ADOLESCENTS. THE LEARNING ENVIRONMENT RECOGNIZES THIS DEVELOPMENTAL PERIOD THROUGH MORE INTIMATE ORGANIZATIONAL STRUCTURES, FACILITIES MORE OPEN TO THE ENVIRONMENT AND CLASSROOM AND GATHERING SPACES DESIGNED TO ENCOURAGE COLLABORATION AND INTEGRATED LEARNING. IN THE ACADEMY, COLLEGE PREPARATORY GRADUATION REQUIREMENTS INCLUDE CREDITS IN ENGLISH, SCIENCE, SOCIAL STUDIES, MATHEMATICS, FOREIGN LANGUAGE, PHYSICAL EDUCATION, PERFORMING ARTS, AND COMMUNITY SERVICE. THE LEARNING ENVIRONMENT RECOGNIZES THIS DEVELOPMENTAL PERIOD THROUGH MORE INTIMATE ORGANIZATIONAL STRUCTURES, FACILITIES MORE OPEN TO THE ENVIRONMENT AND CLASSROOM AND GATHERING SPACES DESIGNED TO ENCOURAGE COLLABORATION AND INTEGRATED LEARNING. IN THE ACADEMY, COLLEGE PREPARATORY GRADUATION REQUIREMENTS INCLUDE CREDITS IN ENGLISH, SCIENCE, SOCIAL STUDIES, MATHEMATICS, FOREIGN LANGUAGE, PHYSICAL EDUCATION, PERFORMING ARTS, AND COMMUNITY SERVICE. 3994492 3236306 SUMMER SCHOOL OFFERS A VARIED AND ENRICHED PROGRAM IN ACADEMICS, SPORTS, MUSIC AND DANCE. THE PROGRAMS STIMULATE INTEREST, CREATIVITY AND ENJOYMENT IN SPECIAL AREAS THAT ARE NOT ALWAYS COVERED DURING THE REGULAR SCHOOL YEAR. 4138670 3083038 CO-CURRICULAR ACTIVITIES ARE AN ESSENTIAL PART OF THE PUNAHOU EXPERIENCE, HELPING STUDENTS DEVELOP A SENSE OF RESPONSIBILITY, COMMITMENT, CONFIDENCE AND LEADERSHIP. WITH A FOCUS ON EXPERIENTIAL, HANDS-ON, AND COLLABORATIVE LEARNING, THE CURRICULUM IS SUPPORTED BY A WIDE VARIETY OF MEDIA SERVICES, TECHNOLOGY RESOURCES AND A WELL-ROUNDED ARTS PROGRAM. 3589679 78852 ATHLETICS 792803 62853 30907 MUSIC DEPARTMENT & THEATER PROGRAMS 151486 81310 STUDENT ACTIVITIES 4533968 62853 191069 98276375 true true false false true false false false true true true false false true true true false true false false false false true true false false false true true false false false false false false true false true true false false false true true true false false true 237 0 true 2259 true true true false false false false false false false false false false false false X 16 16 true false false false false false false true true false false false true true true true true true true false HI X JILL KAWANO 8089445711 1601 PUNAHOU STREET HONOLULU HI 96822 X ETHAN D B ABBOTT CHAIR OF THE BOARD 1.0 0.0 X X 0 0 0 MARK H FUKUNAGA FIRST VICE CHAIR 1.0 0.0 X X 0 0 0 W DAVID P CAREY III SECOND VICE CHAIR 1.0 0.0 X X 0 0 0 WENDY B CRABB SECRETARY 1.0 0.0 X X 0 0 0 MARGARET M COLE ASSISTANT SECRETARY 1.0 0.0 X X 0 0 0 DEBORAH K BERGER TRUSTEE 1.0 0.0 X 0 0 0 STEPHEN M CASE TRUSTEE 1.0 0.0 X 0 0 0 RONALD D HIGGINS II TRUSTEE 1.0 0.0 X 0 0 0 THOMAS S KOSASA TRUSTEE 1.0 0.0 X 0 0 0 CONSTANCE H LAU TRUSTEE 1.0 0.0 X 0 0 0 WARREN K K LUKE TRUSTEE 1.0 0.0 X 0 0 0 DUNCAN MACNAUGHTON TRUSTEE 1.0 0.0 X 0 0 0 PIERRE M OMIDYAR TRUSTEE 1.0 0.0 X 0 0 0 MICHAEL A PIETSCH TRUSTEE 1.0 0.0 X 0 0 0 JEFFREY N WATANABE TRUSTEE (THRU 6/5/18) 1.0 0.0 X 0 0 0 KATHLEEN S WO TRUSTEE 1.0 0.0 X 0 0 0 GREGORY K YIM TRUSTEE 1.0 0.0 X 0 0 0 JAMES K SCOTT PRESIDENT 40.0 0.0 X 543881 0 141499 JOHN D FIELD JR VP & TREASURER 40.0 0.0 X 279919 0 33243 JILL M KAWANO ASSISTANT TREASURER 40.0 0.0 X 163851 0 40558 EMILY N MCCARREN PRINCIPAL - ACADEMY 40.0 0.0 X 216942 0 117769 KATHRYN A NELSON VP - INST ADVANCEMENT 40.0 0.0 X 262256 0 32504 PARIS T PRIORE-KIM PRINCIPAL - JUNIOR SCHOOL 40.0 0.0 X 218003 0 75695 PAULA G HODGES ACADEMY ASST PRINCIPAL 40.0 0.0 X 184618 0 30163 PAULINE L BAILEY DIR - HUMAN RESOURCES 40.0 0.0 X 175212 0 29380 JOHN R OVERTON II DIR - CAMPUS ENERGY & CONSTR 40.0 0.0 X 171183 0 28992 BETSY S HATA DIR - ADMISSION & FIN AID 40.0 0.0 X 167956 0 28228 WENDI A KAMIYA CIO/INNOVATION CATALYST 40.0 0.0 X 158958 0 56731 2542779 0 614762 108 false true false Nordic PCL Construction Inc 1099 Alakea Street Suite 1600 Honolulu HI 968164500 CONSTRUCTION 10425734 Cambridge Associates LLC P O Box 412015 Boston MA 022412015 INVESTMENT MGMT 580926 Air Engineering Company Inc 1032 Puuwai Street Honolulu HI 96819 Air Conditioning 432907 Design Partners Inc 1580 Makaloa Street Suite 1100 Honolulu HI 96814 Facility Planning 432624 Hagadone Printing Company P O Box 30041 Honolulu HI 96820 Printing 321366 16 X 2773608 14690310 1360382 17463918 TUITION & FEES 611600 93715126 93715126 INSTRUCTIONAL SERVICES 611600 6639475 6639475 100354601 3035969 -7225 3043194 0 0 221259 165334 55925 0 55925 55925 16809431 45440 16937856 46077 -128425 -637 -129062 -129062 1740129 1402060 338069 338069 0 0 0 367545 300476 67069 67069 HANDLING CHARGE 900099 156530 156530 FOREFEITED ENROLLMENT DEPOSITS 900099 23142 23142 VENDING REVENUE 900099 11237 11237 195874 195874 386783 121573272 100225539 -7225 3891040 0 7393780 7393780 0 0 2257826 503021 1462598 292207 203222 203222 53889037 52025681 412141 1451215 3799318 3573932 109715 115671 14458386 13600674 417523 440189 4243861 3992104 122552 129205 0 284927 284927 148005 148005 0 27100 27100 648379 648379 2257203 130677 2029143 97383 24491 497 23994 3250902 2275632 650180 325090 837006 585904 167401 83701 11478 11478 3287543 2301280 657509 328754 2282009 1597406 456402 228201 0 980543 97911 867676 14956 0 0 9701452 6791016 1940292 970144 1705214 1193650 341043 170521 FOOD SUPPLIES 1404623 1404623 MEMBERSHIP DUES 1218903 1165153 53750 REPAIRS & MAINTENANCE 810338 159266 651072 BAD DEBT EXPENSE 11668 11668 2066854 422953 1631188 12713 117204068 98276375 14186893 4740800 X 12057722 7044009 44853486 29538486 21415491 17964250 164595 162378 0 0 0 0 0 0 205256 204320 2782230 3161962 315997365 149141556 150649737 166855809 73834568 93639136 129030267 132727895 0 0 0 0 23524101 22475594 458517453 473773839 9416839 13722013 0 0 7188692 6527226 0 0 0 0 0 0 0 0 0 0 28346508 26357637 44952039 46606876 X 272039883 281378003 52495467 51425214 89030064 94363746 413565414 427166963 458517453 473773839 X 4369204 9002475 229870 X X false true X true false X 29226195 14643734 18491389 27438256 17463919 107263493 0 0 29226195 14643734 18491389 27438256 17463919 107263493 26018768 81244725 3952522 4175092 3326382 2783938 3257228 17495162 459585 459585 4998297 5159406 5232612 2176424 2126913 19693652 144911892 463350017 0.56065 0.51219 X 3 76629 317219 7374099 true true 204768193 7840670 9148460 4032624 3163516 616119 213945064 194503031 7122989 10483169 2927893 3896072 517031 204768193 216385661 6388667 1133212 2704785 3504546 23195178 194503031 210810544 5291810 8912188 2455635 5660246 513000 216385661 194881890 4567655 19308806 2191676 5237265 518866 210810544 0.44371 0.39914 0.15715 false false 500498 500498 183706278 79067550 104638728 31075319 15066140 16009179 65875780 53493582 12382198 34839490 1514284 33325206 166855809 INVESTMENT IN LTD PARTNERSHIPS 132727895 F 132727895 0 DEPOSITS HELD IN CUSTODY 720824 LIABILITY UNDER SPLIT-INTEREST 5489882 OTHER LIABILITIES 1535521 POST RETIREMENT HEALTH BENEFIT 18611410 26357637 X 123094956 9002475 498515 9500990 113593966 648379 7330927 7979306 121573272 109493407 1868507 1868507 107624900 648379 8930789 9579168 117204068 INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 THE PRIMARY PURPOSE OF THE ENDOWMENT FUNDS FOR PUNAHOU SCHOOL IS THE CREATION AND MAINTENANCE OF SCHOLARSHIPS IN ORDER TO HELP ALLEVIATE THE COST OF EDUCATING THEIR STUDENTS. PRIOR YEAR ENDOWMENT FUND BALANCE SCHEDULE D, PART 5, ROW F, COLUMN C THE ADMINISTRATIVE EXPENSE REPORTED FOR 2015 INCLUDES AN ADJUSTMENT FOR A CHANGE IN ACCOUNTING FOR THE SCHOOL'S BENEFICIAL INTERESTS IN PERPETUAL TRUSTS WHICH ARE NO LONGER BEING REPORTED AS PART OF THE SCHOOL'S ENDOWMENT FUNDS. ASC 740 THE SCHOOL RECOGNIZES INCOME TAX POSITIONS IN ACCORDANCE WITH ASC TOPIC 740-10 (INTEREPRETATION 48), INCOME TAXES - OVERALL, (ASC TOPIC 740), WHICH PRESCRIBES A "MORE-LIKELY THAN-NOT" RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE (THE LARGEST AMOUNT OF BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON ULTIMATE RESOLUTION WITH TAX AUTHORITIES) FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF AN INCOME TAX POSITION EXPECTED TO BE TAKEN IN A TAX RETURN. MANAGEMENT BELIEVES THAT NO SUCH UNCERTAIN TAX POSITION EXISTS FOR THE SCHOOL REQUIRING ACCRUAL OR DISCLOSURE AT JUNE 30, 2018 AND 2017. THE SCHOOL IS NO LONGER SUBJECT TO U.S. FEDERAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2013. RECONCILIATION OF REVENUE SCHEDULE D, PART XI, LINE 2D OTHER ADJUSTMENTS ARE AS FOLLOWS: CARNIVAL EXPENSES reported NET ON 990 : 1,402,060 RENTAL EXPENSES reported NET ON 990 : 165,334 BOOKSTORE EXPENSES reported NET ON 990 : 300,476 LOSS ON SALE OF ASSET reported as expense ON 990 : 637 CHANGE IN VALUE OF SPLIT-INT AGREEMENTS not reported on form 990 : -1,369,992 ----------- TOTAL 498,515 SCHEDULE D, PART XI, LINE 4B OTHER ADJUSTMENTS ARE AS FOLLOWS: FINANCIAL AID REPORTED NET OF TUITION ON FINANCIAL STATEMENTS: 7,330,927 RECONCILIATION OF EXPENSES SCHEDULE D, PART XII, LINE 2D OTHER ADJUSTMENTS ARE AS FOLLOWS: CARNIVAL EXPENSES reported NET ON 990 : 1,402,060 RENTAL EXPENSES reported NET ON 990 : 165,334 BOOKSTORE EXPENSES reported NET ON 990 : 300,476 LOSS ON SALE OF ASSET reported NET OF REVENUE ON AUDITED financial statements : 637 ----------- TOTAL 1,868,507 SCHEDULE D, PART XII, LINE 4B OTHER ADJUSTMENTS ARE AS FOLLOWS: FINANCIAL AID REPORTED NET OF TUITION ON FINANCIAL STATEMENTS : 7,330,927 NET ACTUARIAL CHANGES IN POSTRETIREMENT HEALTHCARE BENEFITS not reported on form 990 : 1,599,862 ---------- TOTAL 8,930,789 true true true true true true true false false false false false false false false false true PUBLICATION OF RACIALLY NON-DISCRIMINATORY POLICY FORM 990, SCHEDULE E, LINE 3 STATED IN PERIODIC NEWSPAPER ADVERTISEMENT. X X X X true MARTS LUNDY INC 1200 WALL STREET WEST LYNDHURST NJ 07071 CONSULTANT false 21600 Crescendo Interactive Inc 110 Camino Ruiz Camarillo CA 93012 PLANNED GIVING false 5500 27100 AL AK AR CA CO CT GA HI IL KS KY ME MD MA MI MS MO NH NM NY NC ND OH OK OR PA RI SC TN VA WA WV WI CARNIVAL 1740130 1740130 30082 268977 5323 1097679 0 1740130 1740130 30082 268977 5323 1097679 1402061 338069 Part I, Line 2b(iv), Gross Receipts from Activity The professional fundraisers that are reported on Part I, Line 2b assist in fundraising strategies but do not support specific campaigns so there are gross no receipts to report. false SCHOLARSHIPS 818 7330927 N/A N/A DANCE AND MUSIC GRANTS 316 62853 N/A N/A PROCEDURES FOR MONITORING USE OF GRANT FUNDS FORM 990, SCHEDULE I, PART I, LINE 2 GRANT FUNDS CONSIST ALMOST ENTIRELY OF SCHOLARSHIPS AND FINANCIAL AID, WHICH ARE GIVEN TO STUDENTS IN THE FORM OF TUITION REDUCTIONS OR WAIVERS. FUNDS ARE ALSO SET ASIDE FOR THE REIMBURSEMENT OF SCHOOL SUPPLIES FOR SOME STUDENTS. THESE STUDENTS MUST SUBMIT RECEIPTS DETAILING THEIR PURCHASES SO THAT PUNAHOU CAN VERIFY THAT AMOUNTS SUBMITTED FOR REIMBURSEMENT CONSIST ENTIRELY OF APPROVED EXPENDITURES. X X true true X X X X false true false false false false false false false JAMES K SCOTT PRESIDENT 533081 0 0 0 10800 0 48052 0 93447 0 685380 0 0 0 JOHN D FIELD JR VP & TREASURER 248719 0 0 0 31200 0 24771 0 8472 0 313162 0 0 0 JILL M KAWANO ASSISTANT TREASURER 163851 0 0 0 0 0 16708 0 23850 0 204409 0 0 0 EMILY N MCCARREN PRINCIPAL - ACADEMY 216942 0 0 0 0 0 17736 0 100033 0 334711 0 0 0 KATHRYN A NELSON VP - INST ADVANCEMENT 255056 0 0 0 7200 0 20412 0 12092 0 294760 0 0 0 PARIS T PRIORE-KIM PRINCIPAL - JUNIOR SCHOOL 218003 0 0 0 0 0 22161 0 53534 0 293698 0 0 0 PAULA G HODGES ACADEMY ASST PRINCIPAL 184618 0 0 0 0 0 18629 0 11534 0 214781 0 0 0 PAULINE L BAILEY DIR - HUMAN RESOURCES 175212 0 0 0 0 0 17875 0 11505 0 204592 0 0 0 JOHN R OVERTON II DIR - CAMPUS ENERGY & CONSTR 171183 0 0 0 0 0 17458 0 11534 0 200175 0 0 0 BETSY S HATA DIR - ADMISSION & FIN AID 167956 0 0 0 0 0 16722 0 11506 0 196184 0 0 0 WENDI A KAMIYA CIO/INNOVATION CATALYST 158958 0 0 0 0 0 16669 0 40062 0 215689 0 0 0 DETAIL REGARDING EMPLOYER PROVIDED BENEFITS SCHEDULE J, PART I, LINE 1A A HOUSING ALLOWANCE IS PROVIDED TO JOHN FIELD AND IS INCLUDED IN HIS TAXABLE COMPENSATION. ON CAMPUS HOUSING IS PROVIDED TO JIM SCOTT, EMILY MCCARREN, AND PARIS PRIORE-KIM AS A CONDITION OF EMPLOYMENT AND IS USED FOR HOSTING SCHOOL EVENTS AND ACTIVITIES. THIS BENEFIT WAS TREATED AS NONTAXABLE COMPENSATION. THE PRESIDENT, TREASURER, AND VP OF INSTITUTIONAL ADVANCEMENT ARE MEMBERS OF SOCIAL CLUBS FOR THE PURPOSE OF RECREATION, NETWORKING, AND ENTERTAINMENT. THE PORTION OF EXPENSES THAT CAN BE TRACED TO PERSONAL USE ARE TREATED AS TAXABLE COMPENSATION. TUITION REMISSION All regular full-time faculty and staff hired after February 16, 1994, are eligible to receive full tuition remission for one child. All regular full-time faculty and staff hired on or before February 16, 1994 and have been continuously employed by Punahou, are eligible to receive full tuition remission for two children. This benefit is treated as a nontaxable compensation. SUSAN J FIELD FAMILY MEMBER OF OFFICER 104077 SEE SCHEDULE L DISCLOSURE false SARAH J MCKAY FAMILY MEMBER OF OFFICER 65697 SEE SCHEDULE L DISCLOSURE false BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS SCHEDULE L, PART IV, COLUMN (D) THE PAYMENT NOTED ABOVE REPRESENTS COMPENSATION PAID BY THE ORGANIZATION TO A FAMILY MEMBER OF AN INTERESTED PERSON FOR SERVICES RENDERED TO THE ORGANIZATION. PAYMENT AMOUNTS WERE DETERMINED BY INDIVIDUALS WITHOUT A CONFLICT OF INTEREST WITH RESPECT TO THE TRANSACTION, AND ANY INTERESTED PERSONS RECUSED THEMSELVES IN ACCORDANCE WITH THE CONFLICT OF INTEREST POLICY DISCLOSED ABOVE. JOHN D. FIELD: MR. FIELD'S SPOUSE, SUSAN FIELD, RECEIVED COMPENSATION FROM THE SCHOOL FOR SERVICES AS AN ACADEMY MATH TEACHER. JOHN D. FIELD: MR. FIELD'S DAUGHTER, SARAH MCKAY, RECEIVED COMPENSATION FROM THE SCHOOL FOR SERVICES AS A JUNIOR SCHOOL - GRADE 6 - TEACHER. X 6 18323 RETAIL VALUE X 220 RETAIL VALUE X 88 1339483 AVG MARKET PRICE X SUPPLIES 2 2355 RETAIL VALUE 1 false true true NON-CASH DONATIONS DISCLOSURE SCHEDULE M, COLUMN B The organization is reporting the number of contributions received on Column B of Schedule M. For contributions of securities, each separate gift is reported on Column B. METHOD OF DETERMINING REVENUES SCHEDULE M, PART I, COLUMN D CONTRIBUTED PROPERTY IS RECORDED AS INCOME AT THE FAIR VALUE OF THE PROPERTY ON THE DATE OF DONATION. THE FAIR VALUE OF PUBLICLY TRADED SECURITIES IS BASED ON AVERAGE MARKET PRICES. OTHER PROGRAM SERVICES FORM 990, PART III, LINE 4D Athletics - Punahou School has been a member of the ILH (Interscholastic League of Honolulu) since 1909 and fields over 115 competitive teams. Students interested in participating on an athletic team can try out for one of 23 different sports beginning in the 7th grade. Student Activities - For many students, Punahou becomes more than just a school; it serves as a community, a neighborhood, a place which provides a large part of their total environment. Thus, the student activities are varied and offer the students opportunities to get involved in special interest clubs, May Day/Holoku Pageant and curriculum-related travel by athletic teams, speech/debate and musical groups. Theatre Programs - Theatre has a long history at Punahou. Informal classroom activities growing out of a class studies initiate play-acting in early grades. More structured stage experiences are offered in the Grades 5 and 7 Keaka Punahou Clubs and Thurston Memorial Chapel performances. Theatre opportunities in the Drama Workshop classroom or on the Dillingham stage are offered each semester for seventh and eighth graders. Academy students have the opportunity to perform in a play each semester, or to direct or act in student-initiated productions in the Drama Workshop. Formal Theatre courses are offered in Technical Theatre, Acting and Musical Theatre in the Academy. RELATIONSHIPS BETWEEN OFFICERS, TRUSTEES, AND KEY EMPLOYEES FORM 990, PART VI, SECTION A, LINE 2 CONSTANCE LAU, TRUSTEE, JEFFREY WATANABE, TRUSTEE, AND JAMES SCOTT, PRESIDENT, HAVE A BUSINESS RELATIONSHIP IN A FOR-PROFIT ENTITY. REVIEW PROCESS FOR FORM 990 FORM 990, PART VI, SECTION B, LINE 11 The Board of Trustees has delegated the review of the Form 990 to the Audit Committee. The organization's Assistant Treasurer & Controller works closely with the outside accounting firm it engages to review the return; and the final draft of Form 990 is also reviewed by the Vice President of Finance and Administration prior to providing the draft to the Audit Committee. CONFLICT OF INTEREST POLICY FORM 990, PART VI, LINE 12C An Interested Person shall promptly disclose to the Board of Trustees the existence of a Conflict of Interest known to the Interested Person and all material facts relating to the Conflict of Interest. Trustees, Directors, KEY EMPLOYEES, and Officers are encouraged to disclose any Arrangements which may not constitute an actual Conflict of Interest, but which give rise to the appearance of a Conflict of Interest. The conflict of interest policy will be monitored by the audit committee. Any actual or potential Conflict of Interest may also be raised by any other member of the Board of Trustees. An Interested Person may make a presentation to the Board of Trustees, but after such presentation, the Interested Person shall recuse themselves from the meeting during the discussion of, and the vote on, the Arrangement involving the Conflict of Interest or the appearance of a Conflict of Interest. The chairperson of the Board of Trustees shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed Arrangement. The Board of Trustees shall endeavor, to the extent reasonably practical, to comply with the "rebuttable presumption of reasonableness" set forth in Internal Revenue Service Treasury Regulation 53.4958-6 when evaluating any proposed Arrangement. After exercising due diligence, the Board of Trustees shall determine whether the School is able to obtain a more advantageous arrangement with reasonable efforts from a person or entity that would not give rise to a Conflict of Interest or the appearance of a Conflict of Interest. If a more advantageous arrangement is not reasonably attainable under circumstances that would not give rise to a Conflict of Interest or the appearance of a Conflict of Interest, the Board of Trustees shall determine by a majority vote of the disinterested Trustees: that the Arrangement is in the School's best interest, is fair and reasonable to the School, and whether to enter into the Arrangement. The minutes of the Board of Trustees shall contain: (a) The names of the persons who disclosed or otherwise were found to have a Conflict of Interest and the nature of the Conflict of Interest. (b) The names of the persons who were present for the discussion and vote relating to the Arrangement, the content of the discussion (including any action taken to determine whether the Conflict of Interest was in the School's best interest and any alternatives to the proposed Arrangement), and a record of any votes taken in connection therewith. EACH TRUSTEE, DIRECTOR, KEY EMPLOYEE, or OFFICER SHALL ANNUALLY FILL OUT A CONFLICT OF INTEREST STATEMENT. IN IT, THEY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON (I) HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, (II) HAS READ AND UNDERSTANDS THE POLICY, (III) AGREES TO COMPLY WITH THE POLICY, AND (IV) DISCLOSES ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST (AS DEFINED IN THE CONFLICT POLICY). COMPENSATION DETERMINATION FORM 990, PART VI, SECTION B, LINE 15A & 15B THE BOARD APPOINTS A COMPENSATION COMMITTEE, COMPRISED SOLELY OF INDEPENDENT TRUSTEES, NONE OF WHICH HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT, TO BE ACCOUNTABLE FOR SETTING REASONABLE COMPENSATION FOR THE PRESIDENT. THE PRESIDENT, CONSISTENT WITH THE ORGANIZATION'S PHILOSOPHY AND PRINCIPLES, AND BASED ON CRITICAL SUCCESS FACTORS PRESENTED BY THE PRESIDENT TO THE BOARD AND COMPENSATION COMMITTEE, DETERMINES THE MERIT INCREASES FOR OTHER OFFICERS AND KEY EMPLOYEES. Appropriate comparability data is obtained from independent experts, i.e., total economic benefits paid by similarly situated organizations (both taxable and tax-exempt) for similar job responsibilities. The Committee's written record include the (1) terms of the arrangement with the President and/or officers and key employees (including the date the arrangement was approved); (2) a list of members present during the debate on the transaction (and how the members voted when it was approved); (3) a description of the comparable data relied on by the Committee; and (4) any actions taken with respect to consideration of the transaction by members of the committee who had a conflict of interest with respect to the transaction. Key deliberations of the Committee are also documented in minutes which are approved at the next Committee meeting. A benchmark review was prepared in MAY 2016. THE AD HOC COMMITTEE ON EXECUTIVE COMPENSATION REVIEWED AND APPROVED THE BENCHMARKS FOR THE FISCAL YEAR ENDED JUNE 30, 2018 COMPENSATION. THEIR RECOMMENDATION WAS APPROVED IN THE BOARD EXECUTIVE COMMITTEE MEEETING ON JUNE 7, 2017. INFORMATION AVAILABLE TO PUBLIC FORM 990, PART VI, SECTION C, LINE 19 While federal tax laws do not mandate that the organization's governing documents, conflict of interest policy and financial statements be made available for public inspection, the organization makes its financial statements available upon request. OTHER CHANGES IN NET ASSETS OR FUND BALANCES FORM 990, PART XI, LINE 9 OTHER CHANGES ARE AS FOLLOWS: CHANGE IN VALUE OF SPLIT-INT AGREEMENT not reported on form 990 : (1,369,992) net actuarial changes in post retirement healthcare benefits not reported on form 990 : 1,599,862 ------------ TOTAL 229,870 CNW FACULTY BENEFIT TRUST AT PUNAHOU PO BOX 3170 DEPT 715 HONOLULU HI 968023170 990301435 CHAR. TRUST HI 501(C)(3) 11D PUNAHOU SCH true CF CHARITABLE TRUST PO BOX 3170 DEPT 715 HONOLULU HI 968023170 916571634 CHAR. TRUST HI 501(C)(3) PF PUNAHOU SCH true JTW TE COTR PUNAHOU 1ST HWN BANK PO BOX 3708 HONOLULU HI 96801 996048709 CHAR. TRUST HI 501(C)(3) 11D PUNAHOU SCH true CHARITABLE REMAINDER TRUST (11) TRUST HI PUNAHOU SCHOOL Trust true false false true false false false false false false false false false false false false false false false false CNW FACULTY BENEFIT TRUST AT PUNAHOU c 1861005 cash received CF TRUST c 103284 cash received JTW TE COTR PUNAHOU c 809319 cash received