﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xsi:schemaLocation="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2025v4.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2026-05-11T10:01:06-04:00</ReturnTs>
    <TaxPeriodEndDt>2025-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>346565596</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>ERNST &amp; YOUNG US LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>2100 ONE PPG PLACE</AddressLine1Txt>
        <CityNm>PITTSBURGH</CityNm>
        <StateAbbreviationCd>PA</StateAbbreviationCd>
        <ZIPCd>15222</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2025-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>996065390</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>CHRISTINE M MARSH CHARITABLE TRUST</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>MARS</BusinessNameControlTxt>
      <PhoneNum>8085258119</PhoneNum>
      <USAddress>
        <AddressLine1Txt>FIRST HAWAIIAN BANK PO BOX 3708</AddressLine1Txt>
        <CityNm>HONOLULU</CityNm>
        <StateAbbreviationCd>HI</StateAbbreviationCd>
        <ZIPCd>96811</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>JOHNNEL NAKAMURA</PersonNm>
      <PersonTitleTxt>Vice President</PersonTitleTxt>
      <PhoneNum>8085258119</PhoneNum>
      <SignatureDt>2026-04-24</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>LAUREN R TAKACS</PreparerPersonNm>
      <PTIN>P01252796</PTIN>
      <PhoneNum>4126447417</PhoneNum>
      <PreparationDt>2026-04-24</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2025</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="6">
    <IRS990PF documentId="IRS990PF">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>1512506</FMVAssetsEOYAmt>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <DividendsRevAndExpnssAmt>54954</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>54055</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>156521</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>575434</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>156521</CapGainNetIncmNetInvstIncmAmt>
        <NetSTCapitalGainAdjNetIncmAmt>0</NetSTCapitalGainAdjNetIncmAmt>
        <TotalRevAndExpnssAmt>211475</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>210576</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>22869</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>17152</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>5717</CompOfcrDirTrstDsbrsChrtblAmt>
        <OthEmplSlrsWgsNetInvstIncmAmt>0</OthEmplSlrsWgsNetInvstIncmAmt>
        <OthEmplSlrsWgsAdjNetIncmAmt>0</OthEmplSlrsWgsAdjNetIncmAmt>
        <OthEmplSlrsWgsDsbrsChrtblAmt>0</OthEmplSlrsWgsDsbrsChrtblAmt>
        <PensionEmplBnftNetInvstIncmAmt>0</PensionEmplBnftNetInvstIncmAmt>
        <PensionEmplBnftAdjNetIncmAmt>0</PensionEmplBnftAdjNetIncmAmt>
        <LegalFeesDsbrsChrtblAmt>0</LegalFeesDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="AccountingFeesSchedule">1650</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>0</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesAdjNetIncmAmt>0</AccountingFeesAdjNetIncmAmt>
        <AccountingFeesChrtblPrpsAmt>1650</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesDsbrsChrtblAmt>0</OtherProfFeesDsbrsChrtblAmt>
        <InterestDsbrsChrtblAmt>0</InterestDsbrsChrtblAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule">1791</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>758</TaxesNetInvstIncmAmt>
        <TaxesDsbrsChrtblAmt>0</TaxesDsbrsChrtblAmt>
        <DeprecAndDpltnRevAndExpnssAmt>0</DeprecAndDpltnRevAndExpnssAmt>
        <DeprecAndDpltnNetInvstIncmAmt>0</DeprecAndDpltnNetInvstIncmAmt>
        <TravConfMeetingNetInvstIncmAmt>0</TravConfMeetingNetInvstIncmAmt>
        <TravConfMeetingAdjNetIncmAmt>0</TravConfMeetingAdjNetIncmAmt>
        <PrintingAndPubNetInvstIncmAmt>0</PrintingAndPubNetInvstIncmAmt>
        <PrintingAndPubAdjNetIncmAmt>0</PrintingAndPubAdjNetIncmAmt>
        <TotOprExpensesRevAndExpnssAmt>26310</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>17910</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesAdjNetIncmAmt>0</TotOprExpensesAdjNetIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>7367</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>66000</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>66000</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>92310</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>17910</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesAdjNetIncmAmt>0</TotalExpensesAdjNetIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>73367</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>119165</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>192666</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>24746</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>26587</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>26587</SavAndTempCashInvstEOYFMVAmt>
        <AcctRcvblEOYAmt>0</AcctRcvblEOYAmt>
        <AcctRcvblEOYFMVAmt>0</AcctRcvblEOYFMVAmt>
        <OtherRcvblAllwncDbtflAcctAmt>0</OtherRcvblAllwncDbtflAcctAmt>
        <CorporateStockBOYAmt>707010</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="InvestmentsCorpStockSchedule">776519</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>1126163</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>346053</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="InvestmentsCorpBondsSchedule">391257</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>359756</CorporateBondsEOYFMVAmt>
        <OtherInvestmentsEOYFMVAmt>0</OtherInvestmentsEOYFMVAmt>
        <TotalAssetsBOYAmt>1077809</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>1194363</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>1512506</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <CapitalStockBOYAmt>1077809</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>1194363</CapitalStockEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>1077809</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>1194363</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>1077809</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>1194363</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>1077809</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>119165</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt>0</OtherIncreasesAmt>
        <SubtotalAmt>1196974</SubtotalAmt>
        <OtherDecreasesAmt referenceDocumentId="OtherDecreasesSchedule">2611</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>1194363</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>2731.091 BAIRD AGGREGATE BOND-INST</PropertyDesc>
          <AcquiredDt>2021-08-04</AcquiredDt>
          <SoldDt>2025-03-17</SoldDt>
          <GrossSalesPriceAmt>26792</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>31786</CostOrOtherBasisAmt>
          <GainOrLossAmt>-4994</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-4994</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>2704.976 COHEN &amp; STEER PR SEC&amp;INC-I</PropertyDesc>
          <AcquiredDt>2020-11-30</AcquiredDt>
          <SoldDt>2025-03-17</SoldDt>
          <GrossSalesPriceAmt>33379</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>38366</CostOrOtherBasisAmt>
          <GainOrLossAmt>-4987</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-4987</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>1562.691 FH INST HI YLD BND-IS</PropertyDesc>
          <AcquiredDt>2012-04-23</AcquiredDt>
          <SoldDt>2025-03-17</SoldDt>
          <GrossSalesPriceAmt>13845</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>15439</CostOrOtherBasisAmt>
          <GainOrLossAmt>-1594</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-1594</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>2101.034 MSIF INTERNATIONAL ADV-R6</PropertyDesc>
          <AcquiredDt>2020-11-30</AcquiredDt>
          <SoldDt>2025-03-17</SoldDt>
          <GrossSalesPriceAmt>54144</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>50000</CostOrOtherBasisAmt>
          <GainOrLossAmt>4144</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>4144</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>281. STSR SPD MSC EAF STGFS-US IN</PropertyDesc>
          <AcquiredDt>2020-05-06</AcquiredDt>
          <SoldDt>2025-03-17</SoldDt>
          <GrossSalesPriceAmt>22783</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>15503</CostOrOtherBasisAmt>
          <GainOrLossAmt>7280</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>7280</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>758. SS SPDR MSCI U STRATFACT ETF</PropertyDesc>
          <AcquiredDt>2019-05-30</AcquiredDt>
          <SoldDt>2025-03-17</SoldDt>
          <GrossSalesPriceAmt>118365</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>62497</CostOrOtherBasisAmt>
          <GainOrLossAmt>55868</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>55868</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>1296.937 NUVEEN SM CAP BLND INDX F-R6</PropertyDesc>
          <AcquiredDt>2010-08-18</AcquiredDt>
          <SoldDt>2025-03-17</SoldDt>
          <GrossSalesPriceAmt>28740</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>14435</CostOrOtherBasisAmt>
          <GainOrLossAmt>14305</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>14305</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>265. VANGUARD HIGH DVD YIELD ETF</PropertyDesc>
          <AcquiredDt>2018-05-10</AcquiredDt>
          <SoldDt>2025-03-17</SoldDt>
          <GrossSalesPriceAmt>34325</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>22289</CostOrOtherBasisAmt>
          <GainOrLossAmt>12036</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>12036</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>1306. VANGUARD INT HIGH DVD YLD IN</PropertyDesc>
          <AcquiredDt>2018-05-10</AcquiredDt>
          <SoldDt>2025-03-17</SoldDt>
          <GrossSalesPriceAmt>98797</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>87721</CostOrOtherBasisAmt>
          <GainOrLossAmt>11076</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>11076</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>20. VANGUARD LARGE-CAP ETF</PropertyDesc>
          <AcquiredDt>2019-05-30</AcquiredDt>
          <SoldDt>2025-03-17</SoldDt>
          <GrossSalesPriceAmt>5192</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>2561</CostOrOtherBasisAmt>
          <GainOrLossAmt>2631</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>2631</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>288.578 VANGUARD GROWTH INDEX-ADM</PropertyDesc>
          <AcquiredDt>2018-05-11</AcquiredDt>
          <SoldDt>2025-03-17</SoldDt>
          <GrossSalesPriceAmt>56368</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>21292</CostOrOtherBasisAmt>
          <GainOrLossAmt>35076</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>35076</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>1629. WISDOMTREE US MIDCAP DIVIDEN</PropertyDesc>
          <AcquiredDt>2018-05-10</AcquiredDt>
          <SoldDt>2025-03-17</SoldDt>
          <GrossSalesPriceAmt>80650</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>57024</CostOrOtherBasisAmt>
          <GainOrLossAmt>23626</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>23626</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GainOrLossAmt>2054</GainOrLossAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GainOrLossAmt>2054</GainOrLossAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GainOrLossAmt>2054</GainOrLossAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GainOrLossAmt>2054</GainOrLossAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GainOrLossAmt>2054</GainOrLossAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GainOrLossAmt>2054</GainOrLossAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GainOrLossAmt>2054</GainOrLossAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GainOrLossAmt>2054</GainOrLossAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GainOrLossAmt>2054</GainOrLossAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GainOrLossAmt>2054</GainOrLossAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GainOrLossAmt>2054</GainOrLossAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GainOrLossAmt>2054</GainOrLossAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>156521</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>2678</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>2678</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>2678</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>680</EstimatedPlusOvpmtIncmTxAmt>
        <ExemptFrgnOrgTaxWthldAtSrceAmt>0</ExemptFrgnOrgTaxWthldAtSrceAmt>
        <ExtsnRequestIncomeTaxPaidAmt>0</ExtsnRequestIncomeTaxPaidAmt>
        <TotalPaymentsAndCreditsAmt>680</TotalPaymentsAndCreditsAmt>
        <EsPenaltyAmt>0</EsPenaltyAmt>
        <TaxDueAmt>1998</TaxDueAmt>
        <AppliedToESTaxAmt>0</AppliedToESTaxAmt>
        <RefundAmt>0</RefundAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>HI</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>FIRST HAWAIIAN BANK</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>8085258119</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>999 BISHOP STREET</AddressLine1Txt>
          <CityNm>HONOLULU</CityNm>
          <StateAbbreviationCd>HI</StateAbbreviationCd>
          <ZIPCd>96813</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>true</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <ActsFailToQlfyAsExceptionsInd>false</ActsFailToQlfyAsExceptionsInd>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>false</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <BusinessName>
            <BusinessNameLine1Txt>FIRST HAWAIIAN BANK</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>999 BISHOP STREET</AddressLine1Txt>
            <CityNm>HONOLULU</CityNm>
            <StateAbbreviationCd>HI</StateAbbreviationCd>
            <ZIPCd>96811</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>4</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>22869</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <OtherEmployeePaidOver50kCnt>0</OtherEmployeePaidOver50kCnt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
        <ContractorPaidOver50kCnt>0</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp />
      <SumOfProgramRelatedInvstGrp />
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>1421756</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>35415</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>1457171</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>1457171</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>21858</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>1435313</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>71766</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>71766</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>2678</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>2678</TotalTaxAmt>
        <DistributableBeforeAdjAmt>69088</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>0</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>69088</DistributableBeforeDedAmt>
        <DeductionFromDistributableAmt>0</DeductionFromDistributableAmt>
        <DistributableAsAdjustedAmt>69088</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>73367</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <CharitableAssetsAcquisPaidAmt>0</CharitableAssetsAcquisPaidAmt>
        <SetAsideSuitabilityTestAmt>0</SetAsideSuitabilityTestAmt>
        <SetAsideCashDistriTestAmt>0</SetAsideCashDistriTestAmt>
        <QualifyingDistributionsAmt>73367</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>69088</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>46182</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr5Amt>0</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>0</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>0</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>0</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>0</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>0</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>73367</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>46182</AppliedToYear1Amt>
        <AppliedToPriorYearsAmt>0</AppliedToPriorYearsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>27185</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>0</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>0</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>0</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>0</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <PriorYearDeficiencyOrTaxAmt>0</PriorYearDeficiencyOrTaxAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>41903</UndistributedIncomeCYAmt>
        <CorpusDistri170b1EOr4942g3Amt>0</CorpusDistri170b1EOr4942g3Amt>
        <ExcessDistriCyovFromYr5Amt>0</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>0</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>0</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>0</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>0</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>0</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>0</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>NONE</ContributingManagerNm>
        <ShareholderManagerNm>NONE</ShareholderManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>AMERICAN CANCER SOCIETY</BusinessNameLine1Txt>
            <BusinessNameLine2Txt>NATL OFFICE OF PROBATE/TR MGMT SVCS</BusinessNameLine2Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>NATL OFFICE OF PROBATE/TR MGMT SVCS</AddressLine1Txt>
            <CityNm>Hagerstown</CityNm>
            <StateAbbreviationCd>MD</StateAbbreviationCd>
            <ZIPCd>21741</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>MEDICAL RESEARCH</GrantOrContributionPurposeTxt>
          <Amt>66000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>66000</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <FeesContractsFromGovtAgGrp />
        <MembershipDuesAndAssmntGrp />
        <IntOnSavAndTempCashInvstGrp />
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>54954</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <NetRntlIncmReDebtFincdPropGrp />
        <NetRntlIncmReNotDebtFincdProp />
        <NetRentalIncomePersonalPropGrp />
        <OtherInvestmentIncomeGrp />
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>156521</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <NetIncomeLossFromSpecialEvtGrp />
        <GrossProfitLossSlsOfInvntryGrp />
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>211475</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>211475</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <RlnOfActyToAccomOfExmptPrpsGrp />
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <AccountingFeesSchedule documentId="AccountingFeesSchedule">
      <AccountingFeesDetail>
        <CategoryTxt>TAX PREPARATION FEE (NON-ALLOC</CategoryTxt>
        <Amt>1650</Amt>
        <DisbursementsCharitablePrpsAmt>1650</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsCorpBondsSchedule documentId="InvestmentsCorpBondsSchedule">
      <InvestmentsCorporateBondsGrp>
        <BondNm>BISHOP STR HIGH GRADE INCOME</BondNm>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>FEDERATED INSTITUT HIGH YIELD</BondNm>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>VANGUARD INFLAT PROT SEC FUND</BondNm>
        <EOYBookValueAmt>46883</EOYBookValueAmt>
        <EOYFMVAmt>40687</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>ISHARES US PREFERRED STOCK ETF</BondNm>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>JPMORGAN STRATEGIC INCOME OPPU</BondNm>
        <EOYBookValueAmt>33159</EOYBookValueAmt>
        <EOYFMVAmt>32694</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>TEMPLETON GLOBAL TOTAL RETURN</BondNm>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>COHEN &amp; STEERS PREFERRED SECUR</BondNm>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>PIMCO INTERNATIONAL BOND FUND</BondNm>
        <EOYBookValueAmt>33231</EOYBookValueAmt>
        <EOYFMVAmt>31790</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>BAIRD AGGREGATE BOND FUND</BondNm>
        <EOYBookValueAmt>178191</EOYBookValueAmt>
        <EOYFMVAmt>152183</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>PIMCO INCOME FUND</BondNm>
        <EOYBookValueAmt>99793</EOYBookValueAmt>
        <EOYFMVAmt>102402</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="InvestmentsCorpStockSchedule">
      <InvestmentsCorporateStockGrp>
        <StockNm>BISHOP STREET DIVIDEND VALUE</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>TIAA-CREF SMALL CAP BLEND INDX</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>NUVEEN REAL ASSET INCOME-I</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>VANGUARD GROWTH INDEX FD ADM</StockNm>
        <EOYBookValueAmt>38244</EOYBookValueAmt>
        <EOYFMVAmt>153970</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>VANGUARD HIGH DVD YIELD ETF</StockNm>
        <EOYBookValueAmt>90669</EOYBookValueAmt>
        <EOYFMVAmt>162608</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>WISDOMTREE MIDCAP DIVIDEND FUN</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ISHARES CORE MSCI EAFE ETF</StockNm>
        <EOYBookValueAmt>78598</EOYBookValueAmt>
        <EOYFMVAmt>108783</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ISHARES CURRENCY HEDGED MSCI E</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>VANGUARD INTERNATIONAL HIGH DI</StockNm>
        <EOYBookValueAmt>67801</EOYBookValueAmt>
        <EOYFMVAmt>94140</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SPDR MSCI USA STRATEGICFACTORS</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>VANGUARD LARGE-CAP ETF</StockNm>
        <EOYBookValueAmt>56976</EOYBookValueAmt>
        <EOYFMVAmt>140086</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>MORGAN STANLEY INSTL FUND INC</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SPDR MSCI EAFE STRATEGICFACTOR</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>NUVEEN NWQ FLEXIBLE INCOME FUN</StockNm>
        <EOYBookValueAmt>62114</EOYBookValueAmt>
        <EOYFMVAmt>57867</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BLACKROCK GLOBAL EQUITY MARKET</StockNm>
        <EOYBookValueAmt>41011</EOYBookValueAmt>
        <EOYFMVAmt>43204</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>JPMORGAN EQUITY PREM INC</StockNm>
        <EOYBookValueAmt>143704</EOYBookValueAmt>
        <EOYFMVAmt>144359</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>VANGUARD SMALL CAP</StockNm>
        <EOYBookValueAmt>56748</EOYBookValueAmt>
        <EOYFMVAmt>65261</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>FRANKLIN INTL CORE DIV TILT IN</StockNm>
        <EOYBookValueAmt>77771</EOYBookValueAmt>
        <EOYFMVAmt>89641</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>GOLDMAN SACHS GQG PARTNERS INT</StockNm>
        <EOYBookValueAmt>62883</EOYBookValueAmt>
        <EOYFMVAmt>66244</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <OtherDecreasesSchedule documentId="OtherDecreasesSchedule">
      <OtherDecreasesDetail>
        <Desc>MUTUAL FUND TIMING DIFFERENCES</Desc>
        <Amt>2611</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <TaxesSchedule documentId="TaxesSchedule">
      <TaxesDetail>
        <CategoryTxt>FEDERAL TAX PAYMENT - PRIOR YE</CategoryTxt>
        <Amt>353</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FEDERAL ESTIMATES - INCOME</CategoryTxt>
        <Amt>680</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES ON QUALIFIED FOR</CategoryTxt>
        <Amt>649</Amt>
        <NetInvestmentIncomeAmt>649</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES ON NONQUALIFIED</CategoryTxt>
        <Amt>109</Amt>
        <NetInvestmentIncomeAmt>109</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>