Skip to content
Nonprofiteer
← PARKER RANCH FOUNDATION TR 091092

Form 990 for tax year 2022

Filed by PARKER RANCH FOUNDATION TR 091092.

Totals

Total revenue
$7,839,099
Total expenses
$7,034,174
Contributions and grants received
$0
Grants paid
$3,675,509
Program service revenue
$0
Investment income
$5,192,861
Other revenue
$2,646,238
Total assets, end of year
$259,782,895
Total liabilities, end of year
$7,072,141
Net assets or fund balances, end of year
$252,710,754
Program services expenses (Part IX)
$3,985,478
Management and general expenses
$3,048,696
Fundraising expenses
$0
Program service expenses (Part III)
$3,985,478

Program services were 56.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $1,348,140 · unrelated business $3,703 · excluded $1,344,437

  • 6a · Gross rents

    real property $2,646,238

  • 6c · Rental income or loss

    real property $2,646,238

  • 6d · Net rental income or loss

    total $2,646,238 · unrelated business $300,163 · excluded $2,346,075

  • 7a · Gross sales of assets other than inventory

    securities $7,113,907 · other assets $1,895,347

  • 7b · Less cost or other basis and sales expenses

    securities $5,080,328 · other assets $84,205

  • 7c · Gain or loss

    securities $2,033,579 · other assets $1,811,142

  • 7d · Net gain or loss

    total $3,844,721 · unrelated business $744 · excluded $3,843,977

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,675,509 · program services $3,675,509

  • 5 · Compensation of officers, directors and key employees

    total $275,000 · program services $275,000

  • 11b · Fees: legal

    total $139,875 · program services $34,969 · management and general $104,906

  • 11c · Fees: accounting

    total $75,496 · management and general $75,496

  • 11f · Fees: investment management

    total $215,888 · management and general $215,888

  • 11g · Fees: other

    total $267,387 · management and general $267,387

  • 12 · Advertising and promotion

    total $4,407 · management and general $4,407

  • 13 · Office expenses

    total $12,541 · management and general $12,541

  • 14 · Information technology

    total $1,257 · management and general $1,257

  • 16 · Occupancy

    total $91,033 · management and general $91,033

  • 19 · Conferences, conventions and meetings

    total $701 · management and general $701

  • 20 · Interest

    total $128,429 · management and general $128,429

  • 22 · Depreciation, depletion and amortization

    total $441,993 · management and general $441,993

  • 23 · Insurance

    total $147,317 · management and general $147,317

  • 24a · Other expenses: G&A ALLOCATION INTERCO

    total $1,349,943 · management and general $1,349,943

  • 24b · Other expenses: REAL PROPERTY TAXES

    total $204,778 · management and general $204,778

  • 24c · Other expenses: CONTRACTUAL SERVICES

    total $55,403 · management and general $55,403

  • 24d · Other expenses: OTHER INSURANCE

    total $6,360 · management and general $6,360

  • 24e · All other expenses

    total -$59,143 · management and general -$59,143

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,717,136 · end of year $3,538,364

  • 4 · Accounts receivable

    beginning of year $181,069 · end of year $156,755

  • 7 · Other notes and loans receivable

    beginning of year $92,703 · end of year $42,703

  • 9 · Prepaid expenses and deferred charges

    end of year $13,769

  • 10a · Land, buildings and equipment: cost or other basis

    $135,017,237

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,493,512

  • 10c · Land, buildings and equipment, net

    beginning of year $132,600,729 · end of year $132,523,725

  • 11 · Investments: publicly traded securities

    beginning of year $53,935,929 · end of year $45,555,733

  • 12 · Investments: other securities

    beginning of year $79,077,972 · end of year $77,512,910

  • 15 · Other assets

    beginning of year $467,972 · end of year $438,936

  • 17 · Accounts payable and accrued expenses

    beginning of year $74,569 · end of year $96,668

  • 18 · Grants payable

    beginning of year $3,675,486 · end of year $4,025,869

  • 19 · Deferred revenue

    beginning of year $176,859 · end of year $321,449

  • 24 · Unsecured notes and loans payable

    beginning of year $2,650,000 · end of year $2,550,000

  • 25 · Other liabilities

    beginning of year $105,113 · end of year $78,155

  • 27 · Net assets without donor restrictions

    beginning of year $262,391,483 · end of year $252,710,754

Mission and programs · 2022

Mission

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.

Activities or mission (Part I)

PROVIDING PERPETUAL SUPPORT FOR DESIGNATED BENEFICIARIES ENGAGED IN 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 QUEEN'S NORTH HAWAII COMMUNITY HOSPITAL, INC., RICHARD SMART FUND, A COMPONENT OF THE HAWAII COMMUNITY FOUNDATION, HAWAII PREPARATORY ACADEMY AND PARKER SCHOOL.

  • 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, 2022, SUCH NAMED BENEFICIARIES WERE HAWAII PREPARATORY ACADEMY, PARKER SCHOOL, QUEEN'S 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.

    Expenses $3,985,478 · Grants $3,675,509

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Timothy E Johns

    TRUSTEE CHAI

    Total calculated
    $104,700
    From this org
    $95,000
    From related orgs
    $9,700
    Other
    $0
    Hours/week
    24 + 8 related

  • Michael K Fujimoto

    TRUSTEE

    Total calculated
    $101,100
    From this org
    $90,000
    From related orgs
    $11,100
    Other
    $0
    Hours/week
    24 + 8 related

  • Michael W Gibson

    TRUSTEE

    Total calculated
    $99,500
    From this org
    $90,000
    From related orgs
    $9,500
    Other
    $0
    Hours/week
    24 + 8 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • PR KOHALA LLC

    REAL ESTAT · HI · income $113,193 · assets $32,921,705

    Directly controlled by PRFT PARKER RANCH FOUNDATION TRUST

  • PR MAUNA KEA LLC

    REAL ESTAT · HI · income $2,211,311 · assets $76,035,404

    Directly controlled by PRFT PARKER RANCH FOUNDATION TRUST

  • PR PUU PA LLC

    REAL ESTAT · HI · income $153,243 · assets $13,866,596

    Directly controlled by PRFT PARKER RANCH FOUNDATION TRUST

  • PR WAIEMI LLC

    REAL ESTAT · HI · income $4,465 · assets $6,439,394

    Directly controlled by PRFT PARKER RANCH FOUNDATION TRUST

  • PR WAIPUNALEI LLC

    REAL ESTAT · HI · income $48,884 · assets $2,409,557

    Directly controlled by PRFT PARKER RANCH FOUNDATION TRUST

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • PANIOLO HARDWOODS LLC-INDIRECT INT

    UNRELATED · WOOD SALES · HI · 99.88% owned · share of income $15,439 · share of assets $2,026,680

    Directly controlled by PRI PARKER RANCH INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • PARKER RANCH INC

    C CORP · BEEF/CATTL · HI · 100% owned · share of income -$5,585,732 · share of assets $112,577,908 · controlled entity

    Directly controlled by PRFT

  • WAIMEA WASTEWATER COMPANY INC

    C CORP · PUBLIC UTI · HI · 100% owned · share of income -$15,843 · share of assets $5,579 · controlled entity

    Directly controlled by PRI

Provenance

Return type
form_990
Tax year
2022
Filed
2 November 2023
IRS schema version
2022v5.0
Source object
202333079349303503

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.