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← WATERHOUSE CHARITABLE TR

Form 990 for tax year 2022

Filed by WATERHOUSE CHARITABLE TR.

Totals

Total revenue
$350,901
Total expenses
$3,696,001
Contributions and grants received
$0
Grants paid
$2,971,165
Program service revenue
$0
Investment income
$350,901
Other revenue
$0
Total assets, end of year
$41,584,902
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$41,584,902
Program services expenses (Part IX)
$3,131,470
Management and general expenses
$564,531
Fundraising expenses
$0
Program service expenses (Part III)
$3,131,470

Program services were 84.7% 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 $350,901 · unrelated business $0 · excluded $350,901

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,971,165 · program services $2,971,165

  • 5 · Compensation of officers, directors and key employees

    total $455,000 · program services $152,250 · management and general $302,750 · fundraising $0

  • 11b · Fees: legal

    total $44,502 · program services $5,555 · management and general $38,947 · fundraising $0

  • 11c · Fees: accounting

    total $13,150 · program services $0 · management and general $13,150 · fundraising $0

  • 11f · Fees: investment management

    total $165,000 · program services $0 · management and general $165,000 · fundraising $0

  • 13 · Office expenses

    total $697 · program services $0 · management and general $697 · fundraising $0

  • 23 · Insurance

    total $21,462 · program services $0 · management and general $21,462 · fundraising $0

  • 24a · Other expenses: Administrative fee

    total $25,000 · program services $2,500 · management and general $22,500 · fundraising $0

  • 24b · Other expenses: Other taxes and licenses

    total $25 · program services $0 · management and general $25 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $569,274 · end of year $522,089

  • 11 · Investments: publicly traded securities

    beginning of year $18,769,798 · end of year $15,782,813

  • 12 · Investments: other securities

    beginning of year $25,280,000 · end of year $25,280,000

  • 29 · Capital stock, trust principal or current funds

    beginning of year $44,619,072 · end of year $41,584,902

Mission and programs · 2022

Mission

To distribute amounts to certain charitable organizations

  • During the year, the Trust made grant distributions to the five charitable organizations that it was established to support.

    Expenses $3,131,470 · Grants $2,971,165 · Revenue $350,901

As filed on the 2022 return.

Listed in Part VII

  • Stanley Y Mukai

    Co-Trustee

    Total calculated
    $516,480
    From this org
    $70,000
    From related orgs
    $407,000
    Other
    $39,480
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $70,000 + $407,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $11,600 related
    Nontaxable benefits
    $0 + $27,880 related
    Filer's total
    $70,000 + $446,480 related

  • First Hawaiian Bank

    Successor Co-Trustee

    Total calculated
    $550,000
    From this org
    $550,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    25

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Itemized on Schedule J with no Part VII listing of the same name on this return:

  • Name not reported

    Schedule J breakdown

    Base
    $0
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Other
Institutional trustees have been excluded from Schedule J Part II.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

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.

Related corporations and trusts

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

  • Waterhouse Inc

    C · Hld Co Rental · HI · 100% owned · share of income $4,373,973 · share of assets $46,164,578 · controlled entity

    Directly controlled by Waterhouse Tr

  • Soboba Springs Royal Vista Golf Courses Inc

    C · Co Rental · HI · 100% owned · share of income $782,298 · share of assets $11,717,260 · controlled entity

    Directly controlled by Waterhouse

  • San Ramon Royal Vista Golf Course Inc

    C · Rental · HI · 100% owned · share of income $1,518,362 · share of assets $6,845,693 · controlled entity

    Directly controlled by Soboba

  • Francis Camera Shop Inc

    C · Co Rental · HI · 100% owned · share of income $379,661 · share of assets $774,956 · controlled entity

    Directly controlled by Waterhouse

  • Ontario Apartments Inc

    C · Inactive · HI · 100% owned · share of income $0 · share of assets $206 · controlled entity

    Directly controlled by Waterhouse

  • Waterhouse Ventures Inc

    C · Investments · HI · 100% owned · share of income $264,631 · share of assets $4,884,159 · controlled entity

    Directly controlled by Soboba

Provenance

Return type
form_990
Tax year
2022
Filed
9 May 2024
IRS schema version
2022v5.0
Source object
202411359349309746

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