2024-05-10T16:20:06-05:00 2023-06-30 135565207 KPMG LLP 1003 BISHOP STREET SUITE 2210 HONOLULU HI 96813 990 2022-07-01 990073523 PUNAHOU SCHOOL PUNA 8089445711 1601 PUNAHOU STREET HONOLULU HI 96822 SUNNY DONENFELD VP & TREASURER 8089445711 2024-05-10 1 SUNNY DONENFELD 999009999 0 CANDACE C CHING P01698370 8085402800 2024-05-08 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z SUNNY DONENFELD 1601 PUNAHOU STREET HONOLULU HI 96822 186016062 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 3750 STUDENTS IN GRADES K-12. 16 16 1894 3480 -635302 0 22029951 18093921 114481158 121684641 4624764 4745682 1971608 1849737 143107481 146373981 10556949 9905992 0 0 85290747 92176200 45674 17663 6216627 30314869 37315014 126208239 139414869 16899242 6959112 624153689 644434222 86563389 74579521 537590300 569854701 X SEE SCHEDULE O 0 0 93729560 9894052 113326369 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) AND THE ACADEMY (GRADES 9-12). A PRINCIPAL, TWO ASSISTANT PRINCIPALS, AND FIVE DEANS OVERSEE APPROXIMATELY 2,000 JUNIOR SCHOOL STUDENTS. THE JUNIOR SCHOOL IS DIVIDED INTO SMALLER, SELF-CONTAINED SECTIONS FOR GRADES K-1, 2-5, AND 6-8 WHICH ARE DESIGNED TO MEET THE SPECIAL NEEDS OF THESE GROUPS OF CHILDREN. IN FALL 2019, THE KOSASA COMMUNITY FOR GRADES 2-5 WAS UNVEILED OFFERING STATE-OF-THE-ART CLASSROOMS AND EXPANSIVE OUTDOOR LEARNING SPACES TO PROMOTE INTERACTIVE LEARNING. THESE FACILITIES COMPLEMENT THE OMIDYAR NEIGHBORHOOD WHICH WAS BUILT IN 2010 TO SERVE THE 300 STUDENTS IN GRADES K AND 1. THE CASE MIDDLE SCHOOL WAS COMPLETED IN 2005 FOR GRADES 6-8. THIS EXPANDED AREA OF CAMPUS WAS DESIGNED FOR FACILITIES TO BE MORE OPEN TO THE ENVIRONMENT AND CLASSROOM AND GATHERING SPACES TO ENCOURAGE COLLABORATION AND INTEGRATED LEARNING. SUPPLEMENTAL EDUCATION, SUCH AS OUTDOOR AND CAMP EXPERIENCES, ARE ALSO OFFERED IN THE JUNIOR SCHOOL. IN THE ACADEMY, STUDENTS GRADES 9-12 CAN PERSONALIZE 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. THE PUNAHOU EDUCATION IS ENHANCED BY ACCESS TO LEARNING SPACES AND RESOURCES OFFERED THROUGH THE K-12 LEARNING COMMONS WHICH PROVIDES BOOKS, TECHNOLOGY, TOOLS, AND HUMAN RESOURCES THAT ASSIST STUDENTS WITH THEIR LEARNING AND PRESENTATIONS. 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, SUSTAINABILITY, PARTNERSHIPS IN UNLIMITED EDUCATIONAL OPPORTUNITIES (PUEO) PROGRAM, AND THE WO INTERNATIONAL CENTER. THESE ACADEMIC CENTERS AND INITIATIVES OFFER MENTORSHIP, HANDS ON EXPERIENCES, AND LEARNING OPPORTUNITIES IN AREAS SUCH AS ENTREPRENEURSHIP, ROBOTICS AND ENGINEERING, ENGAGED CITIZENSHIP AND HAWAIIAN STUDIES, CIVIC AND GLOBAL EDUCATION. STUDENTS THAT DEMONSTRATE COMPETENCY IN THE AREA OF FOCUS FOR THESE EDUCATIONAL CENTERS MAY RECEIVE AN OFFICIAL DISTINCTION FROM THE CENTER RECOGNIZING THEIR WORK AND DEDICATION UPON GRADUATION. 3825465 3829249 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. 13578891 11940 4529023 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. STUDENT ACTIVITIES RANGE FROM SPECIAL INTEREST CLUBS, HOLOKU PAGEANT, SPEECH AND DEBATE, TO 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 1,700 STUDENTS IN GRADES 7 -12 PARTICIPATE IN ONE OF THE 21 SPORTS PROGRAMS OFFERED THROUGH APPROXIMATELY 140 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. 111133916 1 1 0 0 0 1 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 365 0 1 1894 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 16 16 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 HI X DENISE HOKE 8089445711 1601 PUNAHOU STREET HONOLULU HI 96822 MICHAEL E LATHAM PRESIDENT 40.00 0.00 X 537990 0 173587 SUNNY DONENFELD VP - FIN. & OPS AND TREASURER 40.00 0.00 X 469893 0 40595 NOELEHUA LL ARCHAMBAULT VP - INST. ADVANCEMENT 40.00 0.00 X 248604 0 89003 JAMES LACLAIR CHIEF INFORMATION OFFICER 40.00 0.00 X 295477 0 21271 TODD CHOW-HOY PRINCIPAL - JR SCHOOL 40.00 0.00 X 199467 0 110345 ROBERT GELBER DIRECTOR OF COMMUNICATIONS 40.00 0.00 X 185202 0 71536 RAQUEL KELLY HICKS CHIEF HR OFFICER 40.00 0.00 X 218615 0 34330 GUSTAVO CARRERA PRINCIPAL -ACADEMY (FROM 7/22) 40.00 0.00 X 222071 0 17271 VIRGINIA LOO DIR - ANALYTICS & PLANNING 40.00 0.00 X 181898 0 55502 MAILE UOHARA DIR - ENROLLMENT MGMT & ADMISSION 40.00 0.00 X 218300 0 14851 DENISE SA HOKE ASST. TREASURER & CONTROLLER 40.00 0.00 X 185580 0 19252 EMILY MCCARREN PRINCIPAL - ACAD. (UNTIL 6.22) 40.00 0.00 X 151816 0 38976 W DAVID CAREY III SECOND VICE CHAIR, FINANCE 1.00 0.00 X X 0 0 0 MARGARET COLE ASSISTANT SECRETARY 1.00 0.00 X X 0 0 0 WENDY CRABB FIRST VICE CHAIR 1.00 0.00 X X 0 0 0 CONSTANCE LAU CHAIR OF THE BOARD 1.00 0.00 X X 0 0 0 KATHLEEN SULLIVAN WO SECRETARY 1.00 0.00 X X 0 0 0 ETHAN ABBOTT TRUSTEE 1.00 0.00 X 0 0 0 DEBORAH BERGER TRUSTEE 1.00 0.00 X 0 0 0 GREGORY DICKHENS TRUSTEE 1.00 0.00 X 0 0 0 MARK FUKUNAGA TRUSTEE 1.00 0.00 X 0 0 0 PETER HO TRUSTEE 1.00 0.00 X 0 0 0 DUANE KURISU TRUSTEE 1.00 0.00 X 0 0 0 DOUGLAS KWOCK TRUSTEE 1.00 0.00 X 0 0 0 JOHN MORGAN TRUSTEE 1.00 0.00 X 0 0 0 WILLIAM PRICE III TRUSTEE 1.00 0.00 X 0 0 0 EMILY REBER PORTER TRUSTEE 1.00 0.00 X 0 0 0 ANN TERANISHI TRUSTEE 1.00 0.00 X 0 0 0 3114913 0 686519 154 0 1 0 CAMBRIDGE ASSOCIATES LLC PO BOX 412015 BOSTON MA 022412015 INVESTMENT ADVISORS 778433 DANO BROTHERS INC 47-227 WAIHEE ROAD B KANEOHE HI 96744 CONSTRUCTION 429019 BOSS COMMUNICATIONS TECHNOLOGIES INC 99-1445 KOAHA PLACE AIEA HI 96701 ELECTRICAL WORK 425485 WHITESPACE ARCHITECTS INC 4747 KILAUEA AVE UNIT 201 HONOLULU HI 96816 ARCHITECTS 424826 QUALITY GENERAL INC 99-1219 IWAENA STREET AIEA HI 96701 CONSTRUCTION 404641 20 2424110 15669811 643780 18093921 TUITION & FEES 611600 113326369 113326369 INSTRUCTIONAL SERVICES 611600 8358272 8358272 121684641 2011557 -635302 2646859 339300 103961 235339 235339 235339 40040671 10200 37316746 0 2723925 10200 2734125 2734125 1961842 1809213 152629 152629 541487 412161 129326 129326 ERC CREDIT 900099 783698 783698 HANDLING REVENUE 900099 183490 183490 EVENTS REVENUE 900099 140163 140163 225092 225092 1332443 146373981 121684641 -635302 7230721 9905992 9905992 2769599 816520 1597626 355453 63956655 53883304 7644461 2428890 5501270 3909647 1055712 535911 15117986 11448189 2659642 1010155 4830690 3381483 966138 483069 470899 470899 182581 182581 17663 17663 779454 779454 1586786 869796 638316 78674 62723 62723 6527902 4902796 1279634 345472 3852594 2673706 934278 244610 7785 7785 3750339 2684448 742934 322957 1996340 1080233 694430 221677 476404 245030 208160 23214 1030153 1030153 11632180 11380027 199413 52740 2247139 1916868 262348 67923 FOOD SUPPLIES 1832027 1832027 0 0 MEMBERSHIP DUES 271100 31798 225573 13729 BAD DEBTS 240611 0 240611 0 REPAIRS & MAINTENANCE 118602 103062 10360 5180 249395 61205 178880 9310 139414869 111133916 22064326 6216627 41147046 930922 6528154 30991794 12909350 7452870 4375860 1001654 213108 144452 2161593 3746250 394124307 208021091 190261228 186103216 118309411 154273703 222125737 231590624 26122202 28198737 624153689 644434222 6416740 7682751 8884489 9364069 48175000 36009838 23087160 21522863 86563389 74579521 X 320161163 334297968 217429137 235556733 537590300 569854701 624153689 644434222 X 6959112 22073027 3232262 X 0 1 X 1 0 X 21583480 10705743 13121279 21962298 18093921 85466721 21583480 10705743 13121279 21962298 18093921 85466721 6154313 79312408 2709070 3026303 1993199 4912048 2350857 14991477 2239849 2254791 964271 2726873 3294285 11480069 111938267 553447436 0.70850 0.70160 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER REVENUE - 2018 AMOUNT: $ 502,755. 2019 AMOUNT: $ 250,883. 2020 AMOUNT: $ 256,166. 2021 AMOUNT: $ 1,810,788. 2022 AMOUNT: $ 1,332,443. SPECIAL EVENTS - 2018 AMOUNT: $ 1,737,094. 2019 AMOUNT: $ 2,003,908. 2020 AMOUNT: $ 708,105. 2021 AMOUNT: $ 916,085. 2022 AMOUNT: $ 1,961,842. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3 1606 347520 8835637 1 1 340016969 6944371 24198550 5762901 4966189 601647 359829153 379574633 6100597 -36011580 5155320 3780933 710428 340016969 270425749 4269654 114965514 3778029 5648564 659691 379574633 222111932 4216758 53075759 3577922 4775503 625275 270425749 213945064 11394147 5380294 3389847 4588717 629009 222111932 0.46600 0.28070 0.25330 0 0 500498 500498 262624558 107848793 154775765 35275083 21958406 13316677 83441607 75764309 7677298 12282561 2449583 9832978 186103216 INVESTMENT IN LTD PARTNERSHIPS 231590624 F 231590624 DEPOSITS HELD IN CUSTODY 625432 LIABILITY UNDER SPLIT-INTEREST 5745284 OTHER LIABILITIES 812832 POST RETIREMENT HEALTH BENEFIT 14339315 21522863 X 160836067 22073027 3279915 25352942 135483125 779454 10111402 10890856 146373981 128571666 -157757 -157757 128729423 779454 9905992 10685446 139414869 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 AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 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 1,809,213. RENTAL EXPENSES NET ON FORM 990 103,961. BOOKSTORE EXPENSES NET ON FORM 990 412,161. CHANGE IN VALUE OF SPLIT-INT AGREEMENTS 954,580. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID REPORTED GROSS OF TUITION ON FINANCIAL STATEMENTS 9,905,992. LOSS ON UNCOLLECTIBLE PLEDGES 205,410. PART XII, LINE 2D - OTHER ADJUSTMENTS: CARNIVAL EXPENSES REPORTED NET ON FORM 990 1,809,213. RENTAL EXPENSES NET ON FORM 990 103,961. BOOKSTORE EXPENSES NET ON FORM 990 412,161. CHANGE IN POST RETIREMENT HEALTHCARE BENEFITS STATEMENT 158 -2,483,092. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID REPORTED GROSS OF TUITION ON FINANCIAL STATEMENTS 9,905,992. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 STATED IN PERIODIC NEWSPAPER ADVERTISEMENT. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 62236152 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 INVESTMENTS 11700669 0 0 0 0 0 0 73936821 0 73936821 1 0 1 1 1 0 PART III ACCOUNTING METHOD: X X X X 1 MARTS AND LUNDY 1200 WALL STREET WEST LYNDHURST NH 07071 CONSULTING 0 0 18000 0 18000 AK AL AR CA CO CT GA HI IL KS KY MA MD ME MI MO MS NC ND NH NM NY OH OK OR PA RI SC TN VA WA WI WV CARNIVAL 1961842 1961842 22876 314877 1471460 1961842 1961842 22876 314877 1471460 1809213 152629 PART I, LINE 2B(IV) THE PROFESSIONAL FUNDRAISERS THAT ARE REPORTED ON PART I, LINE 2B ASSIST IN FUNDRAISING STRATEGIES BUT DO NOT SUPPORT SPECIFIC CAMPAIGNS SO THERE ARE NO GROSS RECEIPTS TO REPORT. 0 SCHOLARSHIPS 995 9894052 N/A N/A DANCE AND MUSIC GRANTS 22 11940 N/A N/A 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. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 MICHAEL E LATHAM PRESIDENT 510024 0 1000 0 26966 0 24070 0 149517 0 711577 0 0 0 SUNNY DONENFELD VP - FIN. & OPS AND TREASURER 372114 0 1000 0 96779 0 3623 0 36972 0 510488 0 0 0 NOELEHUA LL ARCHAMBAULT VP - INST. ADVANCEMENT 240134 0 1000 0 7470 0 24798 0 64205 0 337607 0 0 0 JAMES LACLAIR CHIEF INFORMATION OFFICER 292191 0 1000 0 2286 0 19940 0 1331 0 316748 0 0 0 TODD CHOW-HOY PRINCIPAL - JR SCHOOL 198053 0 1000 0 414 0 20272 0 90073 0 309812 0 0 0 ROBERT GELBER DIRECTOR OF COMMUNICATIONS 183932 0 1000 0 270 0 15321 0 56215 0 256738 0 0 0 RAQUEL KELLY HICKS CHIEF HR OFFICER 217201 0 1000 0 414 0 0 0 34330 0 252945 0 0 0 GUSTAVO CARRERA PRINCIPAL -ACADEMY (FROM 7/22) 105475 0 16000 0 100596 0 0 0 17271 0 239342 0 0 0 VIRGINIA LOO DIR - ANALYTICS & PLANNING 180628 0 1000 0 270 0 9283 0 46219 0 237400 0 0 0 MAILE UOHARA DIR - ENROLLMENT MGMT & ADMISSION 190313 0 1000 0 26987 0 0 0 14851 0 233151 0 0 0 DENISE SA HOKE ASST. TREASURER & CONTROLLER 183806 0 1000 0 774 0 17036 0 2216 0 204832 0 0 0 EMILY MCCARREN PRINCIPAL - ACAD. (UNTIL 6.22) 123446 0 0 0 28370 0 12352 0 26624 0 190792 0 0 0 PART I, LINE 3 A HOUSING ALLOWANCE IS PROVIDED TO SUNNY DONENFELD AND MAILE UOHARA AND IS INCLUDED IN THEIR 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 RECEIVE $10,000 IN TUITION ASSISTANCE. X 1200 RETAIL VALUE X 2 RETAIL VALUE X 71 610493 AVG MARKET PRICE X 1 1 RETAIL VALUE X 1 114 RETAIL VALUE X SUPPLIES 6 18770 RETAIL VALUE X SPORTS GEAR 3 13196 RETAIL VALUE X EQUIPMENT 4 4 RETAIL VALUE 0 0 1 0 SCHEDULE M, 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, DESCRIPTION OF ORGANIZATION MISSION: IN 2023, PUNAHOU REVEALED ITS RENEWED MISSION AND VALUES STATEMENTS. 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. - HAWAI'I 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 ANN TERANISHI (TRUSTEE) AND NOE ARCHAMBAULT (VP - INSTITUTIONAL ADVANCEMENT) HAVE A BUSINESS RELATIONSHIP IN A FOR-PROFIT ENTITY. 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 AND COMPENSATION 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 OF FINANCE & OPERATIONS AND TREASURER PRIOR TO PROVIDING THE DRAFT TO THE AUDIT AND COMPENSATION 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 WILL BE MONITORED BY THE AUDIT AND COMPENSATION 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 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. COMPENSATION FOR THE PRESIDENT AND KEY EXECUTIVES ARE VIEWED ANNUALLY AGAINST COMPARATIVE MARKET SALARY DATA. UPDATES ARE DISCUSSED WITH AND APPROVED BY THE AUDIT AND COMPENSATION COMMITTEE. IN ADDITION, THE AUDIT AND COMPENSATION COMMITTEE WILL PERIODICALLY ENGAGE AN INDEPENDENT COMPENSATION CONSULTANT TO PROVIDE INDEPENDENT DATA AND ASSIST IN ANALYSIS, WITH THE MOST RECENT STUDY COMPLETED IN 2022. FORM 990, PART VI, SECTION C, LINE 19 INFORMATION AVAILABLE TO 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 VALUE OF SPLIT-INT AGREEMENT 954,580. NET ACTUARIAL CHANGES IN POST RETIREMENT BENEFITS 2,483,092. LOSS ON UNCOLLECTIBLE PLEDGES -205,410. CNW FACULTY BENEFIT TRUST AT PUNAHOU PO BOX 3170 DEPT 715 HONOLULU HI 968023170 990301435 CHAR. TRUST HI 501(C)(3) 12D PUNAHOU SCH 1 JTW TE COTR PUNAHOU 1ST HWN BANK PO BOX 3708 HONOLULU HI 96811 996048709 CHAR. TRUST HI 501(C)(3) 12D PUNAHOU SCH 1 THE WATERHOUSE CHARITABLE TRUST 700 KAPIOLANI BLVD SUITE 506 HONOLULU HI 96813 996086871 CHAR. TRUST HI 501(C)(3) 12D 0 CHARITABLE REMAINDER TRUST (9) TRUST HI PUNAHOU SCHOOL T 1 CF CHARITABLE TRUST PO BOX 3170 DEPT 715 HONOLULU HI 968023170 916571634 CHAR. TRUST HI PUNAHOU SCHOOL T 93155 2426543 1.00000 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 CNW FACULTY BENEFIT TRUST AT PUNAHOU C 957623 CASH RECEIVED CF TRUST C 139000 CASH RECEIVED JTW TE COTR PUNAHOU C 927487 CASH RECEIVED