2026-05-06T14:10:08-05:00 2025-06-30 946214841 ARMANINO ADVISORY LLC 2700 CAMINO RAMON STE 350 SAN RAMON CA 945835004 990 2024-07-01 990073523 PUNAHOU SCHOOL PUNA 8089445711 1601 PUNAHOU STREET HONOLULU HI 96822 SUNNY DONENFELD VP & TREASURER 8089445711 2026-05-06 1 1 MATTHEW PETROSKI P00853132 9257902600 2026-05-03 2024 2025-03-06 01:10:19Z SUNNY DONENFELD 1601 PUNAHOU STREET HONOLULU HI 96822 213913117 0 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 3,700 STUDENTS IN GRADES K-12. 17 17 2057 1875 762058 0 21580649 17244472 128501132 134111255 6130857 18788992 1150215 1170260 157362853 171314979 10580838 10768976 0 0 97035402 104307453 19500 20700 5242426 38274331 38845095 145910071 153942224 11452782 17372755 691291288 742618217 66207837 72185377 625083451 670432840 X IN 2023, PUNAHOU REVEALED ITS RENEWED MISSION AND VALUES STATEMENT. IT READS AS FOLLOWS: WE ARE CHILDREN OF KA PUNAHOU, THE NEW SPRING.FROM UNDER THE HALA TREE, WE WEAVE A MAT THAT SEATS MANY, OUR HOME TO DREAM AND DISCOVER OUR PURPOSE AND KULEANA TO HAWAI'I AND THE WORLD. OUR VALUES- CHILDREN OF THE NEW SPRING -- WE DEVELOP SPIRITUAL AND ETHICAL VALUES THAT AFFIRM THE WORTH AND DIGNITY OF EVERYONE, INSPIRED BY OUR HAWAIIAN AND CHRISTIAN HERITAGE. - DREAM AND DISCOVER -- WE INSPIRE A LOVE FOR LEARNING, INNOVATION, AND EXPLORATION FROM KINDERGARTEN THROUGH LIFE, EMPOWERING ALL TO DISCOVER THEIR GIFTS AND PASSIONS. - PURPOSE AND KULEANA -- WE COMMIT TO PERSONAL RESPONSIBILITY AND KULEANA AS CENTRAL TENETS OF OUR LARGER PUBLIC PURPOSE TO CREATE A JUST, COMPASSIONATE, AND SUSTAINABLE WORLD. - A MAT THAT SEATS MANY -- WE WELCOME ALL TO REALIZE THE FULL EXPRESSION OF THEMSELVES, KNOWING THAT OUR DIFFERENCES ARE OUR SOURCE OF STRENGTH. 0 0 107305435 10753439 124187329 PUNAHOU SCHOOL IS A COEDUCATIONAL COLLEGE PREPARATORY DAY SCHOOL ACCREDITED BY THE WESTERN ASSOCIATION OF SCHOOLS AND COLLEGES. PUNAHOU OFFERS EDUCATIONAL EXCELLENCE WITH MORE THAN 99 PERCENT OF GRADUATES ATTENDING COLLEGE. PUNAHOU IS DIVIDED INTO THE JUNIOR SCHOOL (KINDERGARTEN THROUGH GRADE 8) WITH APPROXIMATELY 2,000 STUDENTS AND THE ACADEMY (GRADES 9-12) WITH APPROXIMATELY 1,700 STUDENTS. THE JUNIOR SCHOOL IS DIVIDED INTO THREE SELF-CONTAINED SECTIONS TO MEET THE SPECIAL NEEDS OF THESE GROUPS OF CHILDREN: OMIDYAR K-1 NEIGHBORHOOD, KOSASA COMMUNITY FOR GRADES 2-5, AND CASE MIDDLE SCHOOL FOR GRADES 6-8. ACADEMY CLASSROOM SIZE AVERAGES 18-22 STUDENTS. ACADEMY STUDENTS CAN CUSTOMIZE THEIR MIX OF CLASSES FROM AN EXTENSIVE CATALOG OF COURSES WITHIN A MODULAR SCHEDULE. COLLEGE PREPARATORY GRADUATION REQUIREMENTS INCLUDE CREDITS IN ENGLISH, SCIENCE, SOCIAL STUDIES, MATHEMATICS, LANGUAGE, PHYSICAL EDUCATION, VISUAL AND PERFORMING ARTS, AND COMMUNITY SERVICE.STUDENTS ARE ALSO ENCOURAGED TO EXPLORE OTHER INTERESTS AND BUILD SKILLS BEYOND THOSE DEVELOPED IN THE CLASSROOM THROUGH PARTICIPATION IN PUNAHOU'S ACADEMIC CENTERS AND VARIOUS INITIATIVES, INCLUDING THE CASE ACCELERATOR FOR STUDENT ENTREPRENEURSHIP (CASE), DESIGN TECHNOLOGY AND ENGINEERING, KUAIHELANI CENTER FOR 'IKE HAWAII, LUKE CENTER FOR PUBLIC SERVICE, OUTDOOR EDUCATION, AND THE WO INTERNATIONAL CENTER. THESE ACADEMIC CENTERS AND INITIATIVES OFFER MENTORSHIP, HANDS-ON EXPERIENCES, AND LEARNING OPPORTUNITIES IN AREAS SUCH AS ENTREPRENEURSHIP, ENGAGED CITIZENSHIP, HAWAIIAN STUDIES, AND CIVIC AND GLOBAL EDUCATION. STUDENTS THAT DEMONSTRATE COMPETENCY IN THESE RESPECTIVE AREAS WILL RECEIVE AN OFFICIAL DISTINCTION ON THEIR TRANSCRIPTS. 3085437 0 4170884 SUMMER SCHOOL OFFERS A WIDE VARIETY OF ACADEMIC, ENRICHMENT, AND TRANSITIONAL PROGRAMS. AT THE JUNIOR SCHOOL LEVEL (GRADES K-8), MOST SUMMER COURSES ARE OPEN TO ALL STUDENTS, INCLUDING THOSE FROM OUR LOCAL COMMUNITY, THE U.S. MAINLAND, AND ABROAD. ACADEMY SUMMER COURSES ARE TYPICALLY CREDIT-BEARING AND ARE ONLY OPEN TO CURRENT OR INCOMING PUNAHOU STUDENTS. THE ACADEMY COURSES OFFERED COVER A VARIETY OF ACADEMIC SUBJECTS, AS WELL AS SPORTS AND THE ARTS. 18457236 15537 5753042 CO-CURRICULAR AND OTHER PROGRAMS PROVIDE OPPORTUNITIES FOR GROWTH AND DEVELOPMENT BEYOND THE CLASSROOM AND REGULAR SCHOOL DAY. CO-CURRICULAR PROGRAMS INCLUDE MUSIC, DANCE, THEATRE, TENNIS, AND PUNAHOU AQUATICS. OTHER PROGRAMS INCLUDE SPECIAL INTEREST CLUBS, HOLOKU PAGEANT, SPEECH AND DEBATE, AND ROBOTICS. THESE CO-CURRICULAR AND OTHER PROGRAMS ALLOW STUDENTS TO DEEPLY ENGAGE IN LEARNING THROUGH COURSES RANGING FROM RECREATION AND EXPLORATION TO ACTIVE INQUIRY, REFLECTION, AND THE PROGRESSIVE DEVELOPMENT OF ADVANCED SKILLS AND TECHNIQUES. THE ATHLETICS PROGRAM PROVIDES STUDENTS WITH THE OPPORTUNITY TO BUILD AND DEVELOP VALUES, QUALITIES, AND SKILLS THAT ARE AN ESSENTIAL PART OF THE PUNAHOU EXPERIENCE. OVER 70% OF STUDENTS IN GRADES 7-12 PARTICIPATE IN ONE OF THE 23 SPORTS PROGRAMS OFFERED THROUGH APPROXIMATELY 150 TEAMS. PUNAHOU IS A MEMBER OF THE HAWAII HIGH SCHOOL ATHLETIC ASSOCIATION (HHSAA) AND THE INTER-SCHOLASTIC LEAGUE OF HONOLULU (ILH). FOR MANY STUDENTS, PUNAHOU BECOMES MORE THAN JUST A SCHOOL; IT SERVES AS A COMMUNITY, A PLACE WHICH PROVIDES A LARGE PART OF THEIR TOTAL ENVIRONMENT. 128848108 1 1 0 1 0 1 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 1 1 0 0 1 1 1 0 0 0 0 1 0 0 0 1 0 0 0 0 1 1 1 0 0 1 385 0 1 2057 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 17 17 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 HI MA NY SC X DENISE HOKE 8089445711 1601 PUNAHOU STREET HONOLULU HI 96822 WENDY CRABB BOARD CHAIR 1.00 X X 0 0 0 W DAVID P CAREY III VICE CHAIR 1.00 X X 0 0 0 KATHLEEN SULLIVAN WO SECRETARY 1.00 X X 0 0 0 MARGARET COLE ASSISTANT SECRETARY 1.00 X X 0 0 0 ETHAN ABBOTT TRUSTEE 1.00 X 0 0 0 DEBORAH BERGER TRUSTEE 1.00 X 0 0 0 GREGORY DICKHENS TRUSTEE 1.00 X 0 0 0 MARK FUKUNAGA TRUSTEE 1.00 X 0 0 0 PETER HO TRUSTEE 1.00 X 0 0 0 DUANE KURISU TRUSTEE 1.00 X 0 0 0 DR DOUGLAS KWOCK TRUSTEE 1.00 X 0 0 0 CONSTANCE LAU TRUSTEE 1.00 X 0 0 0 JOHN LEONG TRUSTEE 1.00 X 0 0 0 JOHN MORGAN TRUSTEE 1.00 X 0 0 0 WILLIAM PRICE III TRUSTEE 1.00 X 0 0 0 EMILY REBER PORTER TRUSTEE 1.00 X 0 0 0 ANN TERANISHI TRUSTEE 1.00 X 0 0 0 MICHAEL E LATHAM PRESIDENT 40.00 X 610473 0 137354 SUNNY DONENFELD VP - FINANCE OPS AND TREASURER 40.00 X 408333 0 53381 NOELEHUA LL ARCHAMBAULT VP - INST. ADVANCEMENT 40.00 X 270598 0 85836 DENISE SA HOKE ASST TREASURER & CONTROLLER 40.00 X 221683 0 24105 GUSTAVO CARRERA PRINCIPAL - ACADEMY 40.00 X 235553 0 129386 TODD CHOW-HOY PRINCIPAL - JUNIOR SCHOOL 40.00 X 235138 0 116798 RAQUEL KELLY HICKS CHIEF HUMAN RESOURCE OFFICER 40.00 X 237901 0 51001 ROBERT GELBER DIRECTOR - COMMUNICATIONS 40.00 X 213333 0 69329 MAILE UOHARA DIR. - ENROLLMENT MGMT & ADMISSION 40.00 X 224832 0 40547 SHIGEHIRO MINAMI CHIEF INFO TECHNOLOGY OFFICER 40.00 X 232413 0 26943 JAMES KAKOS ASSOC. PRINCIPAL - K-12 STUDENT LIFE 40.00 X 200552 0 54951 3090809 0 789631 276 0 1 0 ALBERT C KOBAYASHI INC 94-535 UKEE STREET WAIPAHU HI 96797 CONSTRUCTION 6449170 CAMBRIDGE ASSOCIATES PO BOX 412015 BOSTON MA 022412015 INVESTMENT ADVISORS 859844 ALAKAI MECHANICAL CORPORATION PO BOX 29960 HONOLULU HI 968202360 AIR CONDITIONING MAINTENANCE 755466 BLACKBAUD PO BOX 830413 PHILADELPHIA PA 191820413 FINANCIAL SYSTEM/SERVICES 375680 ADP PO BOX 31001-1874 PASADENA CA 911101874 PAYROLL SYSTEM/SERVICES 328970 27 21676 2036698 75245 15110853 2325165 17244472 TUITION & FEES 611600 124187329 124187329 INSTRUCTIONAL SERVICES 611600 9923926 9923926 134111255 3178591 729706 2448885 361383 163994 197389 197389 197389 55313542 33454 39736595 0 15576947 33454 15610401 32352 15578049 2520567 21676 2195313 325254 325254 619363 502236 117127 117127 HANDLING REVENUE 900099 203800 203800 EVENTS REVENUE 900099 119511 119511 REBATES 900099 65083 65083 142096 142096 530490 171314979 134111255 762058 19197194 6950 6950 10762026 10762026 2613345 737680 1514808 360857 73503548 62729182 8286181 2488185 5089350 4477710 461189 150451 17074308 13974062 2424374 675872 6026902 5148022 676677 202203 292209 292209 136636 136636 300 300 20700 20700 955149 955149 1074949 899785 126575 48589 92650 92650 3342715 2152333 944152 246230 6352439 4771680 1163192 417567 9670 9670 3200002 2562998 477977 159027 2465925 1497189 677135 291601 503325 412630 74592 16103 423322 423322 10431221 10194910 186720 49591 2817908 2411515 316980 89413 PROGRAM EXPENSES 5294539 5294539 MEMBERSHIP DUES 335196 41270 278244 15682 BAD DEBTS 208443 208443 REPAIRS & MAINTENANCE 138578 137482 822 274 769919 626475 133363 10081 153942224 128848108 19851690 5242426 761545 925055 57180417 56686409 10306913 8943409 236879 99211 180648 176974 3701474 3638314 434109863 229919154 182032689 204190709 149707074 152650536 258520176 285085871 28663473 30221729 691291288 742618217 9124652 18304959 10010322 9737235 25962900 22571013 21109963 21572170 66207837 72185377 X 355372263 372082283 269711188 298350557 625083451 670432840 691291288 742618217 X 17372755 25411394 2565240 X 0 1 X 1 0 X 13121279 21962298 18093921 21580649 17244472 92002619 13121279 21962298 18093921 21580649 17244472 92002619 9111478 82891141 1993199 4912048 2350857 4140662 3539974 16936740 152629 209919 325254 687802 469760 2115781 1873930 1094238 1149853 6703562 116330723 605342045 0.71250 0.70660 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2020 AMOUNT: $ 256,166. 2021 AMOUNT: $ 1,810,788. 2022 AMOUNT: $ 1,332,443. 2023 AMOUNT: $ 542,757. 2024 AMOUNT: $ 530,490. GROSS SALE OF INVENTORY - 2020 AMOUNT: $ 213,594. 2021 AMOUNT: $ 304,993. 2022 AMOUNT: $ 541,487. 2023 AMOUNT: $ 551,481. 2024 AMOUNT: $ 619,363. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 300 0 0 300 0 PART II-B, LINE 1: LOBBYING ACTIVITY WAS LIMITED TO THE DRAFTING OF TESTIMONY FOR HAWAII HOUSE BILL 1437 HD 1. 2 689 402767 9150484 1 1 401401771 4418692 40600874 5149370 6672556 730289 433869122 359829153 8065049 45440983 4813557 6467697 652160 401401771 340016969 6944371 24198550 5762901 4966189 601647 359829153 379574633 6100597 -36011580 5155320 3780933 710428 340016969 270425749 4269654 114965514 3778029 5648564 659691 379574633 0.45819 0.26050 0.28131 0 0 500498 500498 263496393 120219372 143277021 36547489 24517663 12029826 89938321 82310156 7628165 43627162 2871963 40755199 204190709 INVESTMENT IN LTD PARTNERSHIPS 285085871 F 285085871 DEPOSITS HELD IN CUSTODY 473653 LIABILITY UNDER SPLIT-INTEREST 6164611 OTHER LIABILITIES 322510 POST RETIREMENT HEALTH BENEFIT 14396466 LEASE OBLIGATION 214930 21572170 X 190443541 25411394 5625231 31036625 159406916 955149 10952914 11908063 171314979 145086592 2861543 2861543 142225049 955149 10762026 11717175 153942224 PART V, LINE 4: A SIGNIFICANT 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. PART X, LINE 2: THE SCHOOL IS ORGANIZED UNDER THE PROVISIONS OF SECTIONS 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS GENERALLY NOT SUBJECT TO FEDERAL INCOME TAXES. HOWEVER, THE SCHOOL IS SUBJECT TO INCOME TAXES ON ANY NET INCOME THAT IS DERIVED FROM A TRADE OR BUSINESS, REGULARLY CARRIED ON, AND NOT IN FURTHERANCE OF THE PURPOSES FOR WHICH IT WAS GRANTED EXEMPTION. NO INCOME TAX PROVISION HAS BEEN RECORDED AS THE INCOME, IF ANY, FROM ANY UNRELATED TRADE OR BUSINESS, IN THE OPINION OF MANAGEMENT, IS NOT MATERIAL TO THE FINANCIAL STATEMENTS TAKEN AS A WHOLE. PART XI, LINE 2D - OTHER ADJUSTMENTS: CARNIVAL EXPENSES REPORTED NET ON FORM 990 2,195,313. RENTAL EXPENSES REPORTED NET ON FORM 990 163,994. BOOKSTORE COST OF GOODS SOLD REPORTED NET ON FORM 990 502,236. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 2,763,688. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID REPORTED GROSS OF TUITION ON FINANCIAL STATEMENTS 10,762,026. LOSS ON UNCOLLECTIBLE PLEDGES 190,888. PART XII, LINE 2D - OTHER ADJUSTMENTS: CARNIVAL EXPENSES REPORTED NET ON FORM 990 2,195,313. RENTAL EXPENSES REPORTED NET ON FORM 990 163,994. BOOKSTORE COST OF GOODS SOLD REPORTED NET ON FORM 990 502,236. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID REPORTED GROSS OF TUITION ON FINANCIAL STATEMENTS 10,762,026. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 PUNAHOU SCHOOL'S NONDISCRIMINATORY POLICY IS PUBLICIZED ON ITS INTERNET HOMEPAGE AT ALL TIMES. SCHEDULE E, PART I, LINE 6 PUNAHOU SCHOOL RECEIVES FEDERAL FUNDS SPECIFICALLY AND ONLY FOR ITS JROTC PROGRAM. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 78917852 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 14063212 0 0 0 0 0 0 92981064 0 92981064 1 0 1 1 1 0 X X X X 1 MARTS AND LUNDY 1200 WALL STREET WEST LYNDHURST NH 07071 CONSULTING 0 0 20700 0 20700 AK CO MA NY SC WA AL AR CA CT FL GA HI IL KS KY ME MN MS MO NM NC ND OH OK OR RI TN VA WV WI CARNIVAL 2542243 21676 2520567 25297 373905 1796111 2542243 21676 2520567 25297 373905 1796111 2195313 325254 SCHEDULE G, PART I, LINE 2B, COLUMN (V) THE PROFESSIONAL FUNDRAISERS REPORTED ON PART I, LINE 2B ASSIST IN FUNDRAISING STRATEGIES BUT DO NOT SUPPORT SPECIFIC CAMPAIGNS SO THERE ARE NO GROSS RECEIPTS TO REPORT. 1 MUSIC GRANTS 35 14687 FMV DIRECT CREDIT TO STUDENT ACCOUNT SCHOLARSHIPS AND AID 1220 10747339 FMV DIRECT CREDIT TO STUDENT ACCOUNT PART I, LINE 2: FINANCIAL ASSISTANCE IS AWARDED BASED ON A THOROUGH ASSESSMENT OF EACH APPLICANT'S FINANCIAL CIRCUMSTANCES. FAMILIES PROVIDE DETAILED INCOME INFORMATION, AND A STANDARDIZED METHODOLOGY IS APPLIED TO DETERMINE ELIGIBILITY. THE FINANCIAL AID COMMITTEE ALLOCATES AVAILABLE RESOURCES ACCORDINGLY. AWARDS ARE GRANTED IN AN OBJECTIVE AND NON-DISCRIMINATORY MANNER AND MAY BE APPLIED TOWARD TUITION AND FEES AS A REDUCTION OR WAIVER. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 MICHAEL E LATHAM PRESIDENT 582143 0 0 0 28330 0 27600 0 109754 0 747827 0 0 0 SUNNY DONENFELD VP - FINANCE OPS AND TREASURER 407559 0 0 0 774 0 27600 0 25781 0 461714 0 0 0 GUSTAVO CARRERA PRINCIPAL - ACADEMY 234779 0 0 0 774 0 9668 0 119718 0 364939 0 0 0 NOELEHUA LL ARCHAMBAULT VP - INST. ADVANCEMENT 262984 0 0 0 7614 0 27020 0 58816 0 356434 0 0 0 TODD CHOW-HOY PRINCIPAL - JUNIOR SCHOOL 234724 0 0 0 414 0 31098 0 85700 0 351936 0 0 0 RAQUEL KELLY HICKS CHIEF HUMAN RESOURCE OFFICER 237487 0 0 0 414 0 19815 0 31186 0 288902 0 0 0 ROBERT GELBER DIRECTOR - COMMUNICATIONS 212919 0 0 0 414 0 17589 0 51740 0 282662 0 0 0 MAILE UOHARA DIR. - ENROLLMENT MGMT & ADMISSION 210614 0 0 0 14218 0 16884 0 23663 0 265379 0 0 0 SHIGEHIRO MINAMI CHIEF INFO TECHNOLOGY OFFICER 231999 0 0 0 414 0 18693 0 8250 0 259356 0 0 0 JAMES KAKOS ASSOC. PRINCIPAL - K-12 STUDENT LIFE 200138 0 0 0 414 0 21049 0 33902 0 255503 0 0 0 DENISE SA HOKE ASST TREASURER & CONTROLLER 220909 0 0 0 774 0 22153 0 1952 0 245788 0 0 0 PART I, LINE 1A A HOUSING ALLOWANCE IS PROVIDED TO MAILE UOHARA AND IS INCLUDED IN HER TAXABLE COMPENSATION. ON-CAMPUS HOUSING IS PROVIDED TO DR. LATHAM, GUSTAVO CARRERA, AND TODD CHOW-HOY AS A CONDITION OF EMPLOYMENT AND IS USED FOR HOSTING SCHOOL EVENTS AND ACTIVITIES. THIS BENEFIT IS TREATED AS NONTAXABLE COMPENSATION. THE PRESIDENT, TREASURER, AND VP OF INSTITUTIONAL ADVANCEMENT ARE MEMBERS OF A SOCIAL CLUB FOR THE PURPOSE OF RECREATION, NETWORKING, AND ENTERTAINMENT. THE PORTION OF EXPENSES THAT CAN BE TRACED TO PERSONAL USE ARE PAID DIRECTLY BY THE INDIVIDUAL. TUITION REMISSION ALL REGULAR FULL-TIME FACULTY AND STAFF HIRED AFTER FEBRUARY 16, 1994 AND BEFORE JANUARY 22, 2021, ARE ELIGIBLE TO RECEIVE FULL TUITION REMISSION FOR ONE CHILD. ELIGIBLE EMPLOYEES HIRED AFTER JANUARY 22, 2021, RECEIVED $10,000 IN TUITION ASSISTANCE. BEGINNING WITH THE 2024-2025 SCHOOL YEAR, THIS TUITION ASSISTANCE BENEFIT INCREASED TO 50% TUITION REMISSION FOR ONE ELIGIBLE CHILD AT A TIME DURING EMPLOYMENT AT PUNAHOU. 31680 SCHOLARSHIP TUITION X 68 2154026 PUBLICLY TRADED EXCHANGE X HEAVY EQUIPMENT 1 154500 COMPARABLE SALES X CARNIVAL DONATIONS 22 21676 COMPARABLE SALES X EQUIPMENT & SUPPLIES 4 10170 COMPARABLE SALES X ALUMNI LUAU SUPPLIES 2 6469 COMPARABLE SALES 0 0 1 0 PART I, 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. 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. FORM 990, PART III, LINE 1 - HAWAII AND THE WORLD -- WE HONOR OUR MANY COMMUNITIES AND UNIQUE KUANA'IKE WHILE EMBRACING THE ENTIRE WORLD AS OUR HOME. FORM 990, PART VI, SECTION A, LINE 2 RELATIONSHIPS BETWEEN OFFICERS, TRUSTEES, AND KEY EMPLOYEES JOHN MORGAN (TRUSTEE) AND EMILY REBER PORTER (TRUSTEE) HAVE A BUSINESS RELATIONSHIP IN A FOR-PROFIT ENTITY. MARK FUKUNAGA (TRUSTEE) AND CONSTANCE LAU (TRUSTEE) HAVE A BUSINESS RELATIONSHIP IN A FOR-PROFIT ENTITY. FORM 990, PART VI, SECTION B, LINE 11B REVIEW PROCESS FOR FORM 990 THE BOARD OF TRUSTEES HAS DELEGATED THE REVIEW OF THE FORM 990 TO THE AUDIT, RISK, AND HUMAN CAPITAL COMMITTEE. THE ORGANIZATION'S ASSISTANT TREASURER & CONTROLLER WORKS CLOSELY WITH THE OUTSIDE ACCOUNTING FIRM IT ENGAGES TO REVIEW THE RETURN. THE FINAL DRAFT OF THE FORM 990 IS ALSO REVIEWED BY THE VICE PRESIDENT FOR FINANCE OPERATIONS & TREASURER PRIOR TO PROVIDING THE DRAFT TO THE AUDIT, RISK, AND HUMAN CAPITAL COMMITTEE. A FINAL COPY OF THE FORM 990 IS PROVIDED TO THE FULL BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY 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 IS MONITORED BY THE NOMINATING & GOVERNANCE 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). FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION DETERMINATION THE BOARD OF TRUSTEES APPROVES THE PRESIDENT'S COMPENSATION BASED ON THE RECOMMENDATION OF THE AUDIT, RISK AND HUMAN CAPITAL (ARHC) COMMITTEE. COMPRISED SOLELY OF INDEPENDENT TRUSTEES WITH NO CONFLICTS OF INTEREST REGARDING COMPENSATION ARRANGEMENTS, THE ARHC COMMITTEE IS RESPONSIBLE FOR APPROVING THE COMPENSATION OF ALL OTHER SCHOOL OFFICERS AND PRINCIPALS ("OTHER EXECUTIVES"). FURTHERMORE, THE ARHC COMMITTEE REVIEWS THE COMPENSATION OF ALL OTHER EMPLOYEES WHOSE COMPENSATION IS LISTED ON THE RELEVANT IRS FORM 990, AS WELL AS THE COMPENSATION PROGRAMS APPLICABLE TO OTHER SCHOOL EMPLOYEES. COMPENSATION FOR THE PRESIDENT AND KEY EXECUTIVES IS REVIEWED ANNUALLY AGAINST COMPARATIVE MARKET SALARY DATA. APPROPRIATE COMPARABILITY DATA IS OBTAINED FROM INDEPENDENT EXPERTS. DATA INCLUDES TOTAL ECONOMIC BENEFITS PAID BY SIMILARLY SITUATED ORGANIZATIONS (BOTH TAXABLE AND TAX-EXEMPT) FOR SIMILAR JOB RESPONSIBILITIES. UPDATES ARE DISCUSSED WITH AND APPROVED BY THE ARHC COMMITTEE. IN ADDITION, THE ARHC COMMITTEE WILL PERIODICALLY ENGAGE AN INDEPENDENT COMPENSATION CONSULTANT TO PROVIDE INDEPENDENT DATA AND ASSIST IN ANALYSIS. THE MOST RECENT STUDY WAS COMPLETED IN MAY 2025. THE BOARD CONCURRENTLY DOES AN ANNUAL ASSESSMENT OF THE PRESIDENT'S PERFORMANCE. THIS ASSESSMENT IS DONE BY THE BOARD CHAIR AND INCLUDES INTERVIEWS OF THE PRESIDENT'S DIRECT REPORTS, A SURVEY OF BOARD MEMBERS, AND A SELF-ASSESSMENT DONE BY THE PRESIDENT. ALL THIS INFORMATION IS PRESENTED TO THE BOARD AND DISCUSSED AT THE SAME MEETING THE PRESIDENT'S COMPENSATION IS SET. THE COMMITTEE'S WRITTEN RECORD INCLUDES THE (1) TERMS OF THE ARRANGEMENT WITH THE PRESIDENT, 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. FORM 990, PART VI, SECTION C, LINE 19 INFORMATION AVAILABLE TO THE PUBLIC 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. FORM 990, PART XI, LINE 9: CHANGE IN POST RETIREMENT BENEFITS -7,560. CHANGE IN VALUE OF SPLIT INTEREST 2,763,688. LOSS ON UNCOLLECTIBLE PLEDGES -190,888. CNW FACULTY BENEFIT TRUST AT PUNAHOU PO BOX 3170 DEPT 715 HONOLULU HI 968023170 990301435 CHARITABLE TRUST HI 501(C)(3) LINE 12D, III-O PUNAHOU SCHOOL 1 JTW TE COTR PUNAHOU 1ST HWN BANK PO BOX 3708 HONOLULU HI 96811 996048709 CHARITABLE TRUST HI 501(C)(3) LINE 12D, III-O PUNAHOU SCHOOL 1 THE WATERHOUSE CHARITABLE TRUST 770 KAPIOLANI BLVD SUITE 506 HONOLULU HI 96813 996086871 CHARITABLE TRUST HI 501(C)(3) LINE 12D, III-O 0 CHARITABLE REMAINDER TRUST (8) TRUST HI PUNAHOU SCHOOL T 1 CF CHARITABLE TRUST PO BOX 3170 DEPT 715 HONOLULU HI 968023170 916571634 CHARITABLE TRUST HI PUNAHOU SCHOOL T 142004 2870997 1.00000 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 C NW FACULTY BENEFIT TRUST AT PUNAHOU C 955308 CASH RECEIVED C F TRUST C 197000 CASH RECEIVED J TW TE COTR PUNAHOU C 884390 CASH RECEIVED