2013-10-15T16:54:07-05:00 2012-12-31 205325889 ACCUITY LLP 999 BISHOP STREET STE 1900 HONOLULU HI 96813 990 2012-01-01 996064620 PARKER RANCH FOUNDATION TRUST PARK 8088857311 66-1304 MAMALAHOA HIGHWAY KAMUELA HI 96743 MICHAEL W GIBSON 8088857311 2013-10-11 1 ACCUITY LLP P00089337 8085313400 2012 2016-02-25 16:41:14Z MICHAEL W GIBSON 66-1304 MAMALAHOA HIGHWAY KAMUELA HI 96743 19867126 0 X WWW.PRFT.ORG X 1992 HI PROVIDING PERPETUAL SUPPORT FOR DESIGNATED BENEFICIARIES ENGAGED IN...(CONTINUED ON SCHEDULE O) ... (CONTINUED FROM PAGE 1) 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 NORTH HAWAII COMMUNITY HOSPITAL, INC., RICHARD SMART FUND, A COMPONENT OF THE HAWAII COMMUNITY FOUNDATION, HAWAII PREPARATORY ACADEMY AND THE PARKER SCHOOL TRUST CORPORATION. 3 3 0 0 95820 4584 0 0 0 0 2333606 2256634 0 0 2333606 2256634 2000000 2000000 0 0 358881 272708 0 0 0 1008163 1812857 3367044 4085565 -1033438 -1828931 256368818 259069730 4288343 5151941 252080475 253917789 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. 0 0 2332259 2000000 SEE SCHEDULE O 2332259 1 0 0 0 0 0 0 1 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 10 0 1 0 1 1 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 HI X NAHUA GUILLOZ CO PARKER RANCH 8088857311 66-1304 MAMALAHOA HWY KAMUELA HI 96743 X MICHAEL W GIBSON 24.00 X 93941 8750 0 TIMOTHY E JOHNS 24.00 X 89167 8950 0 BRENDAN G MOYNAHAN 24.00 X 89167 10550 0 272275 28250 0 0 0 0 0 GOLDMAN SACHS 85 BROAD STREET NEW YORK NY 10004 INVESTMENT MANAGEMENT 350464 CARLSMITH BALL LLP PO BOX 656 HONOLULU HI 96809 LEGAL 185716 2 1316784 95820 1220964 18550342 17610131 361 940211 -361 939850 939850 2256634 0 95820 2160814 2000000 2000000 272708 271337 1371 243687 60922 182765 72258 72258 350464 350464 5469 5469 622 622 3168 3168 2812 2812 37 37 2118 2118 48793 48793 8256 8256 14702 14702 CONVEYANCE TAX 782118 782118 PROFESSIONAL FEES 137370 137370 G&A ALLOCATION 80000 80000 FOREIGN TAXES 55178 55178 5805 5805 4085565 2332259 1753306 0 X 864587 1474411 1836000 1615000 0 1000 131191301 1657587 1544679 129533714 40900454 43502119 210739748 82506928 483350 436558 256368818 259069730 149602 245506 2000000 2000000 2050000 2835000 88741 71435 4288343 5151941 X 252080475 253917789 252080475 253917789 256368818 259069730 -1828931 3666245 0 X X 0 1 X 1 0 X X X 0 0 0 NORTH HAWAII COMMUNITY HOSPITAL 990260423 3 1 1 1 960000 HAWAII COMMUNITY FOUNDATION 990261283 7 1 1 1 400000 HAWAII PREPARATORY ACADEMY 990078306 2 1 1 1 320000 PARKER SCHOOL TRUST CORPORATION 990354692 2 1 1 1 320000 4 2000000 370140 X X 0 127787764 127787764 3324401 1592511 1731890 79136 65076 14060 129533714 PARKER RANCH INC. 75052047 C PRIVATE EQUITY FUNDS 7454881 F 82506928 DUE TO PARKER RANCH, INC. 9475 LIABILITY FOR EARTHQUAKE REPAIR 33271 POST-RETIRE BENEFITS PAYABLE 28689 71435 X 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, PART X, LINE 2: PARKER RANCH FOUNDATION TRUST'S ("PRFT") AUDITED FINANCIAL STATEMENTS INCLUDED ITS TAXABLE SUBSIDIARY, PARKER RANCH, INC. ("PRI"). DURING 2012, PRI RECORDED AN ACCRUAL OF $342,000 FOR AN UNCERTAIN TAX POSITION RELATED TO 2012. THIS AMOUNT IS CLASSIFIED AS A CURRENT LIABILITY AND NO AMOUNTS HAVE BEEN RECORDED FOR POTENTIAL INTEREST OR PENALTIES. NO UNRECOGNIZED TAX BENEFITS EXISTED IN THE PRIOR YEAR. 1 NORTH HAWAII COMMUNITY HOSPITAL 67-1125 MAMALAHOA HIGHWAY KAMUELA HI 96743 990260423 501(C)(3) 960000 FMV GENERAL SUPPORT FOR HOSPITAL HAWAII COMMUNITY FOUNDATION 1164 BISHOP STREET SUITE 800 HONOLULU HI 96813 990261283 501(C)(3) 400000 FMV GENERAL SUPPORT FOR FOUNDATION HAWAII PREPARATORY ACADEMY 65-1692 KOHALA MOUNTAIN ROAD KAMUELA HI 967438476 990078306 501(C)(3) 320000 FMV GENERAL SUPPORT FOR SCHOOL PARKER SCHOOL TRUST CORPORATION PO BOX 1720 KAMUELA HI 96743 990354692 501(C)(3) 320000 FMV GENERAL SUPPORT FOR SCHOOL PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: PRFT IS A TYPE 1 SUPPORTING ORGANIZATION AND DISTRIBUTES GRANTS TO ITS FOUR BENEFICIARY 501(C)(3) ORGANIZATIONS. THESE RECIPIENT ORGANIZATIONS HAVE A RESPONSIBILITY TO USE CONTRIBUTIONS RECEIVED IN ACCORDANCE WITH THEIR OWN EXEMPT PURPOSE. FORM 990, PART VI, SECTION A, 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, PART VI, SECTION B, LINE 11 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, PART VI, SECTION B, 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, PART VI, SECTION C, 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 VI, SECTION B, LINE 15A COMPENSATION TO THE TRUSTEES OF THE PARKER RANCH FOUNDATION TRUST WAS ESTABLISHED BY TRUST BENEFICIARIES/SUPPORTED ORGANIZATIONS AND REPORTED IN 2012 FORM 990, PART VII, SECTION A. THE COMPENSATION REPORTED IN 2012 FORM 990, PART VII, SECTION A, REMAINS AT THE SAME LEVELS REPORTED IN THE 2011 FORM 990, PART VII, SECTION A. FORM 990, PART VI, SECTION B, LINE 15B PARKER RANCH FOUNDATION TRUST HAS NO OFFICERS OR EMPLOYEES. FORM 990, PART VII, SECTION A, PART B ALL TRUSTEES SPENT APPROXIMATELY 8 HOURS A WEEK ON AVERAGE ON RELATED ORGANIZATIONS. FORM 990, PART X, LINE 23 MARGIN LOAN WITH GOLDMAN SACHS $2,835,000 BANK LOAN FOR WHICH PRFT IS LISTED AS CO-BORROWER $14,765,825 OFFSET TO BANK LOAN - PORTION TO BE PAID BY CO-BORROWER ($14,765,825) TOTAL TO BALANCE SHEET, LINE 23 $2,835,000 FORM 990, PART XII, LINE 2(C): THE ORGANIZATION HAS AN AUDIT COMMITTEE WHICH IS RESPONSIBLE FOR THE SELECTION OF INDEPENDENT ACCOUNTANTS AND FOR REVIEWING THE AUDITED FINANCIAL STATEMENTS. 990, PART III, LINE 4(A): 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, 2012, SUCH NAMED BENEFICIARIES WERE HAWAII PREPARATORY ACADEMY, PARKER SCHOOL TRUST CORPORATION, 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. 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