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Nonprofiteer
← TRUSTEES OF THE ESTATE OF BERNICE PAUAHI BISHOP

Form 990 for tax year 2023

Filed by TRUSTEES OF THE ESTATE OF BERNICE PAUAHI BISHOP.

Totals

Total revenue
$588,827,104
Total expenses
$1,408,154,627
Contributions and grants received
$1,349,235
Grants paid
$98,871,910
Program service revenue
$47,377,000
Investment income
$396,488,767
Other revenue
$143,612,102
Total assets, end of year
$12,171,215,830
Total liabilities, end of year
$1,746,285,714
Net assets or fund balances, end of year
$10,424,930,116
Program services expenses (Part IX)
$429,780,964
Management and general expenses
$975,754,289
Fundraising expenses
$2,619,374
Program service expenses (Part III)
$429,780,964

Program services were 30.5% 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.

  • 1d · Related organizations

    $1,251,036

  • 1f · All other contributions, gifts and grants

    $98,199

  • 2a · Program service revenue: TUITION

    total $39,843,136 · related or exempt $39,843,136

  • 2b · Program service revenue: STUDENT FEES

    total $7,032,652 · related or exempt $7,032,652

  • 2c · Program service revenue: BOOKSTORE

    total $331,228 · related or exempt $331,228

  • 2d · Program service revenue: OTHER

    total $169,984 · related or exempt $169,984

  • 3 · Investment income

    total $92,096,782 · unrelated business $18,525,632 · excluded $73,571,150

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $1,249,770 · excluded $1,249,770

  • 6a · Gross rents

    real property $286,006,947

  • 6b · Less rental expenses

    real property $156,357,002

  • 6c · Rental income or loss

    real property $129,649,945 · personal property $0

  • 6d · Net rental income or loss

    total $129,649,945 · excluded $129,649,945

  • 7a · Gross sales of assets other than inventory

    securities $4,250,397,091 · other assets $117,514

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

    securities $3,946,115,956 · other assets $6,664

  • 7c · Gain or loss

    securities $304,281,135 · other assets $110,850

  • 7d · Net gain or loss

    total $304,391,985 · unrelated business $7,198,997 · excluded $297,192,988

  • 8a · Fundraising events: gross income

    $1,024,011

  • 8b · Fundraising events: direct expenses

    $410,139

  • 8c · Net income from fundraising events

    total $613,872 · excluded $613,872

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: GOLF REVENUE

    total $3,828,384 · unrelated business $3,828,384

  • 11b · Other revenue: NET PREMIUMS EARNED

    total $3,158,602 · related or exempt $3,158,413 · unrelated business $189

  • 11c · Other revenue: PARKING

    total $2,776,212 · unrelated business $2,005,738 · excluded $770,474

  • 11d · All other revenue

    total $2,335,317 · related or exempt $1,889,648 · unrelated business $21,333 · excluded $424,336

  • 11e · Other revenue, total

    $12,098,515

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $33,176,102 · program services $33,176,102

  • 2 · Grants to domestic individuals

    total $65,695,808 · program services $65,695,808

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $10,678,573 · program services $1,751,330 · management and general $8,927,243

  • 6 · Compensation of disqualified persons

    total $778,655 · program services $468,646 · management and general $310,009

  • 7 · Other salaries and wages

    total $230,988,985 · program services $152,612,844 · management and general $76,713,440 · fundraising $1,662,701

  • 8 · Pension plan contributions

    total $20,463,513 · program services $13,332,845 · management and general $6,985,123 · fundraising $145,545

  • 9 · Other employee benefits

    total $27,982,732 · program services $16,525,368 · management and general $11,234,471 · fundraising $222,893

  • 10 · Payroll taxes

    total $17,085,550 · program services $10,934,418 · management and general $6,033,490 · fundraising $117,642

  • 11a · Fees: management

    total $804,818 · program services $127,844 · management and general $676,974

  • 11b · Fees: legal

    total $9,147,841 · management and general $9,147,491 · fundraising $350

  • 11c · Fees: accounting

    total $673,185 · management and general $673,185

  • 11d · Fees: lobbying

    total $136,108 · management and general $136,108

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $26,426,285 · management and general $26,426,285

  • 11g · Fees: other

    total $40,544,025 · program services $20,274,660 · management and general $20,221,240 · fundraising $48,125

  • 12 · Advertising and promotion

    total $694,869 · program services $152,953 · management and general $541,916

  • 13 · Office expenses

    total $2,627,182 · program services $830,145 · management and general $1,774,336 · fundraising $22,701

  • 14 · Information technology

    total $15,455,125 · program services $606,262 · management and general $14,738,077 · fundraising $110,786

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $13,304,739 · program services $10,175,420 · management and general $3,127,399 · fundraising $1,920

  • 17 · Travel

    total $3,748,630 · program services $1,821,259 · management and general $1,877,896 · fundraising $49,475

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $1,316,495 · program services $856,758 · management and general $452,907 · fundraising $6,830

  • 20 · Interest

    total $17,813,899 · management and general $17,813,899

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $49,862,307 · program services $44,539,965 · management and general $5,322,342

  • 23 · Insurance

    total $7,114,646 · program services $69,899 · management and general $7,044,747

  • 24a · Other expenses: WILDFIRE LEGAL CLAIMS

    total $727,500,000 · program services $0 · management and general $727,500,000 · fundraising $0

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $46,579,282 · program services $29,636,497 · management and general $16,942,785 · fundraising $0

  • 24c · Other expenses: SUPPLIES

    total $21,014,299 · program services $19,283,892 · management and general $1,628,934 · fundraising $101,473

  • 24d · Other expenses: BUSINESS EXPENSES

    total $8,463,593 · program services $2,423,965 · management and general $5,919,014 · fundraising $120,614

  • 24e · All other expenses

    total $8,077,381 · program services $4,484,084 · management and general $3,584,978 · fundraising $8,319

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $14,200 · end of year $12,200

  • 2 · Savings and temporary cash investments

    beginning of year $132,287,568 · end of year $298,475,436

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $10,266,670 · end of year $156,099,490

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $86,862 · end of year $317,694

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $140,531,691 · end of year $139,985,151

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

    $1,894,893,847

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

    $1,067,650,140

  • 10c · Land, buildings and equipment, net

    beginning of year $811,229,360 · end of year $827,243,707

  • 11 · Investments: publicly traded securities

    beginning of year $517,548,850 · end of year $434,435,981

  • 12 · Investments: other securities

    beginning of year $9,450,153,764 · end of year $10,130,707,580

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $178,970,806 · end of year $183,938,591

  • 17 · Accounts payable and accrued expenses

    beginning of year $97,307,278 · end of year $105,780,489

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $151,337,222 · end of year $142,033,688

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $261,317,856 · end of year $553,783,809

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $86,098,741 · end of year $944,687,728

  • 27 · Net assets without donor restrictions

    beginning of year $10,645,028,674 · end of year $10,424,930,116

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

KAMEHAMEHA SCHOOLS' MISSION IS TO FULFILL PAUAHI'S DESIRE TO CREATE EDUCATIONAL OPPORTUNITIES IN PERPETUITY TO IMPROVE THE CAPABILITY AND WELL-BEING OF PEOPLE OF HAWAIIAN ANCESTRY.

  • KAMEHAMEHA SCHOOLS WAS ESTABLISHED UNDER THE WILL AND CODICILS OF BERNICE PAUAHI BISHOP IN 1885 AND OPENED IN 1887 AND IS NOW ONE OF THE LARGEST SCHOOLS IN THE UNITED STATES SERVING KINDERGARTEN THROUGH GRADE 12 AND 30 PRESCHOOLS. FOR OVER ONE-HUNDRED AND THIRTY YEARS, KAMEHAMEHA SCHOOLS HAS CONTINUOUSLY PROVIDED QUALITY EDUCATION GIVING PREFERENCE TO STUDENTS OF HAWAIIAN ANCESTRY TO THE EXTENT PERMITTED BY LAW. (SEE SCHEDULE O FOR ADDITIONAL INFORMATION ON PROGRAM SERVICE ACCOMPLISHMENTS).

    Expenses $429,780,964 · Grants $98,871,910 · Revenue $52,425,061

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Timothy Donohue

    CIO

    Total calculated
    $2,528,549
    From this org
    $2,455,692
    From related orgs
    $0
    Other
    $72,857
    Hours/week
    50 + 1 related

    Schedule J breakdown matched by us

    Base
    $1,041,819
    Bonus
    $1,411,011
    Other
    $2,862
    Deferred
    $51,750
    Nontaxable benefits
    $21,107
    Filer's total
    $2,528,549

  • L Jack Wong

    CEO

    Total calculated
    $1,506,617
    From this org
    $1,349,584
    From related orgs
    $0
    Other
    $157,033
    Hours/week
    50 + 1 related

    Schedule J breakdown matched by us

    Base
    $748,895
    Bonus
    $576,000
    Other
    $24,689
    Deferred
    $129,520
    Nontaxable benefits
    $27,513
    Filer's total
    $1,506,617

  • Burton Yuen

    MANAGING DIR. - FIN'L ASSETS

    Total calculated
    $1,271,841
    From this org
    $1,206,906
    From related orgs
    $0
    Other
    $64,935
    Hours/week
    50 + 1 related

    Schedule J breakdown matched by us

    Base
    $663,342
    Bonus
    $540,000
    Other
    $3,564
    Deferred
    $43,454
    Nontaxable benefits
    $21,481
    Filer's total
    $1,271,841

  • Cara Nakamura

    MANAGING DIR. - FIN'L ASSETS

    Total calculated
    $1,036,955
    From this org
    $958,423
    From related orgs
    $0
    Other
    $78,532
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $487,433
    Bonus
    $470,000
    Other
    $990
    Deferred
    $45,143
    Nontaxable benefits
    $33,389
    Filer's total
    $1,036,955

  • Jon Iwatani

    MANAGING DIR. - FIN'L ASSETS

    Total calculated
    $1,013,860
    From this org
    $951,152
    From related orgs
    $0
    Other
    $62,708
    Hours/week
    50 + 1 related

    Schedule J breakdown matched by us

    Base
    $498,830
    Bonus
    $450,000
    Other
    $2,322
    Deferred
    $50,908
    Nontaxable benefits
    $11,800
    Filer's total
    $1,013,860

  • Christopher Piccione

    COO, FINANCIAL ASSETS

    Total calculated
    $969,473
    From this org
    $889,375
    From related orgs
    $0
    Other
    $80,098
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $458,565
    Bonus
    $430,000
    Other
    $810
    Deferred
    $52,500
    Nontaxable benefits
    $27,598
    Filer's total
    $969,473

  • David Ames

    MANAGING DIR. - FIN'L ASSETS

    Total calculated
    $794,628
    From this org
    $735,038
    From related orgs
    $0
    Other
    $59,590
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $384,552
    Bonus
    $350,000
    Other
    $486
    Deferred
    $50,431
    Nontaxable benefits
    $9,159
    Filer's total
    $794,628

  • Mia Okinaga

    VP INTERNAL AUDIT

    Total calculated
    $606,023
    From this org
    $573,497
    From related orgs
    $0
    Other
    $32,526
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $360,369
    Bonus
    $176,000
    Other
    $37,128
    Deferred
    $19,800
    Nontaxable benefits
    $12,726
    Filer's total
    $606,023

  • Darrel Hoke

    EVP - ADMINISTRATION

    Total calculated
    $600,553
    From this org
    $523,464
    From related orgs
    $0
    Other
    $77,089
    Hours/week
    50 + 1 related

    Schedule J breakdown matched by us

    Base
    $476,136
    Bonus
    $45,000
    Other
    $2,328
    Deferred
    $50,545
    Nontaxable benefits
    $26,544
    Filer's total
    $600,553

  • Taran Chun

    HEAD OF SCHOOL - KAPALAMA

    Total calculated
    $504,474
    From this org
    $437,595
    From related orgs
    $0
    Other
    $66,879
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $398,236
    Bonus
    $38,000
    Other
    $1,359
    Deferred
    $41,584
    Nontaxable benefits
    $25,295
    Filer's total
    $504,474

  • Walter Thoemmes

    MD, KS COMMERCIAL REAL ESTATE

    Total calculated
    $460,979
    From this org
    $398,676
    From related orgs
    $0
    Other
    $62,303
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $360,904
    Bonus
    $35,014
    Other
    $2,758
    Deferred
    $37,101
    Nontaxable benefits
    $25,202
    Filer's total
    $460,979

  • Benjamin Salazar

    VP FINANCE & CFO

    Total calculated
    $433,247
    From this org
    $373,566
    From related orgs
    $0
    Other
    $59,681
    Hours/week
    50 + 1 related

    Schedule J breakdown matched by us

    Base
    $340,342
    Bonus
    $31,886
    Other
    $1,338
    Deferred
    $34,048
    Nontaxable benefits
    $25,633
    Filer's total
    $433,247

  • M Kahealani Nae'Ole-Wong

    HEAD OF SCHOOL - BIG ISLAND

    Total calculated
    $430,750
    From this org
    $364,797
    From related orgs
    $0
    Other
    $65,953
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $330,835
    Bonus
    $32,000
    Other
    $1,962
    Deferred
    $37,185
    Nontaxable benefits
    $28,768
    Filer's total
    $430,750

  • M Nalani Fujimori Kaina

    GEN COUNSEL & VP

    Total calculated
    $428,402
    From this org
    $401,436
    From related orgs
    $0
    Other
    $26,966
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $360,106
    Bonus
    $40,000
    Other
    $1,330
    Deferred
    $19,355
    Nontaxable benefits
    $7,611
    Filer's total
    $428,402

  • Scott Parker

    HEAD OF SCHOOL - MAUI

    Total calculated
    $402,453
    From this org
    $356,928
    From related orgs
    $0
    Other
    $45,525
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $324,409
    Bonus
    $31,200
    Other
    $1,319
    Deferred
    $36,126
    Nontaxable benefits
    $9,399
    Filer's total
    $402,453

  • M Wai'Ale'Ale Arroyo

    VP HI'IALO

    Total calculated
    $395,337
    From this org
    $336,986
    From related orgs
    $0
    Other
    $58,351
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $306,095
    Bonus
    $29,600
    Other
    $1,291
    Deferred
    $30,448
    Nontaxable benefits
    $27,903
    Filer's total
    $395,337

  • T Ka'Eo Duarte

    VP AINA PAUAHI

    Total calculated
    $386,260
    From this org
    $331,630
    From related orgs
    $0
    Other
    $54,630
    Hours/week
    50 + 1 related

    Schedule J breakdown matched by us

    Base
    $303,493
    Bonus
    $26,600
    Other
    $1,537
    Deferred
    $30,627
    Nontaxable benefits
    $24,003
    Filer's total
    $386,260

  • Shelli Kim

    FORMER INTERIM HEAD-PRESCHOOLS

    Total calculated
    $313,096
    From this org
    $274,146
    From related orgs
    $0
    Other
    $38,950
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $272,626
    Bonus
    $0
    Other
    $1,520
    Deferred
    $29,103
    Nontaxable benefits
    $9,847
    Filer's total
    $313,096

  • Lauren Nahme

    VP S&T (UNTIL 7/23)

    Total calculated
    $308,843
    From this org
    $266,378
    From related orgs
    $0
    Other
    $42,465
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $264,819
    Bonus
    $0
    Other
    $1,559
    Deferred
    $32,109
    Nontaxable benefits
    $10,356
    Filer's total
    $308,843

  • Sabrina Toma

    FORMER INT. GEN COUNS, VP

    Total calculated
    $294,635
    From this org
    $246,315
    From related orgs
    $0
    Other
    $48,320
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $243,384
    Bonus
    $0
    Other
    $2,931
    Deferred
    $22,670
    Nontaxable benefits
    $25,650
    Filer's total
    $294,635

  • Carrie Shoda-Sutherland

    INTERIM VP S&T (7/23 - 11/23)

    Total calculated
    $253,050
    From this org
    $205,902
    From related orgs
    $0
    Other
    $47,148
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $198,306
    Bonus
    $7,000
    Other
    $596
    Deferred
    $20,113
    Nontaxable benefits
    $27,035
    Filer's total
    $253,050

  • Andrea Kanno

    INT VP COMM & CCO(UNTIL 11/23)

    Total calculated
    $235,696
    From this org
    $208,274
    From related orgs
    $0
    Other
    $27,422
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $188,593
    Bonus
    $18,661
    Other
    $1,020
    Deferred
    $18,846
    Nontaxable benefits
    $8,576
    Filer's total
    $235,696

  • Kehau Abad

    VP S&E (AS OF 11/26)

    Total calculated
    $227,843
    From this org
    $185,936
    From related orgs
    $0
    Other
    $41,907
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $184,832
    Bonus
    $0
    Other
    $1,104
    Deferred
    $18,041
    Nontaxable benefits
    $23,866
    Filer's total
    $227,843

  • Elliot Mills

    CHAIR/TRUSTEE

    Total calculated
    $199,859
    From this org
    $199,859
    From related orgs
    $0
    Other
    $0
    Hours/week
    10 + 2 related

    Schedule J breakdown matched by us

    Base
    $199,859
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $199,859

  • Robert Nobriga

    TRUSTEE

    Total calculated
    $196,138
    From this org
    $196,138
    From related orgs
    $0
    Other
    $0
    Hours/week
    10 + 2 related

    Schedule J breakdown matched by us

    Base
    $196,138
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $196,138

  • Crystal Rose

    TRUSTEE

    Total calculated
    $177,414
    From this org
    $177,414
    From related orgs
    $0
    Other
    $0
    Hours/week
    10 + 2 related

    Schedule J breakdown matched by us

    Base
    $177,414
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $177,414

  • Jennifer Goodyear-Ka'Opua

    TRUSTEE

    Total calculated
    $177,414
    From this org
    $177,414
    From related orgs
    $0
    Other
    $0
    Hours/week
    10 + 2 related

    Schedule J breakdown matched by us

    Base
    $177,414
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $177,414

  • Michelle Ka'Uhane

    TRUSTEE

    Total calculated
    $91,865
    From this org
    $91,865
    From related orgs
    $0
    Other
    $0
    Hours/week
    10 + 2 related

  • Lance Wilhelm

    FORMER TRUSTEE

    Total calculated
    $78,049
    From this org
    $78,049
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $78,049
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $78,049

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

Answered yes

  • 1a · First-class or charter travel
  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 1A
THE HEAD OF SCHOOL FOR KAPALAMA CAMPUS IS PROVIDED HOUSING IN ACCORDANCE WITH SECTION 119 OF THE CODE BECAUSE HE IS REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF HIS EMPLOYMENT. THE RESIDENCE IS NOT TREATED AS TAXABLE COMPENSATION. IN ACCORDANCE WITH KS' TRAVEL POLICIES, TWO TRUSTEES, ONE KEY EMPLOYEE, ONE OFFICER AND THE TOP FIVE HIGHEST PAID EMPLOYEES FLEW FIRST CLASS FOR BUSINESS TRIPS THAT WERE TAKEN SOLELY TO FURTHER KS' CHARITABLE MISSION. THIS BENEFIT WAS PROPERLY TREATED AS NONTAXABLE.
SCHEDULE J, PART I, LINE 4B
L. "JACK" WONG RECEIVED A CONTRIBUTION OF $77,020 TO HIS SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN IN CALENDAR YEAR 2023. THIS AMOUNT IS INCLUDED IN COLUMN C OF SCHEDULE J, PART II.
SCHEDULE J, PART I, LINE 7
THE CEO AND CURRENT OFFICERS' PERFORMANCE AND ACCOMPLISHMENTS ARE REVIEWED AND EVALUATED EACH YEAR BY THE BOARD OF TRUSTEES, WHO, AT THEIR DISCRETION, MAY PROVIDE A BONUS PAYMENT TO THE CEO AND/OR CURRENT OFFICERS COMMENSURATE WITH SUCH PERFORMANCE AND ACCOMPLISHMENTS. THE PERFORMANCE AND ACCOMPLISHMENTS OF OTHER EMPLOYEES ARE REVIEWED AND EVALUATED EACH YEAR BY THE CEO, WHO, AT HIS DISCRETION, MAY PROVIDE A BONUS PAYMENT TO OTHER EMPLOYEES COMMENSURATE WITH SUCH PERFORMANCE AND ACCOMPLISHMENTS.
SCHEDULE J, PART II, COLUMN (B)(II)
CERTAIN INVESTMENT PROFESSIONALS RESPONSIBLE FOR THE INVESTMENT PORTFOLIO HAVE A PORTION OF THEIR COMPENSATION PLACED 'AT RISKAWARDED ONLY WHEN SPECIFIC INVESTMENT RETURN BENCHMARKS ARE MET OR EXCEEDED. INCENTIVE COMPENSATION IS BASED ON THE PORTFOLIO'S PRIOR FISCAL YEAR PERFORMANCE, AND IT IS AWARDED IN THE CURRENT FISCAL YEAR. THE 'AT RISK' COMPENSATION PLAN IS ALIGNED WITH ENDOWMENT INDUSTRY STANDARDS.

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

  • P&C INSURANCE COMPANY LLC

    INSURANCE · HI · income $4,189,624 · assets $16,883,405

    Directly controlled by KS

  • KALOKO'ELI PROPERTIES LLC

    REAL ESTATE · HI · income $1,729,004 · assets $20,299,426

    Directly controlled by KS

  • GE HAWAII BK A2 HLD

    INVESTMENTS · DE · income $6,115,944 · assets $73,924,256

    Directly controlled by KS

Related partnerships

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

  • SINO FINANCE GROUP

    EXCLUDED · INTL BUS IN CHINA · DE · 90.48% owned · share of income $0 · share of assets $6,089,957

    Directly controlled by KS

  • KAYNE KS CRDT FD LP

    EXCLUDED · INVESTMENTS · DE · 99.934% owned · share of income $3,317,006 · share of assets $28,551,554

    Directly controlled by KS

  • CRESCENTKS PTNRSHP

    EXCLUDED · INVESTMENTS · DE · 99.984% owned · share of income $963,534 · share of assets $61,806,001

    Directly controlled by KS

  • KURAMO AFRC OPP FD

    EXCLUDED · INVESTMENTS · DE · 83.654% owned · share of income -$321,040 · share of assets $11,003,782

    Directly controlled by KS

  • ORION MINE FIN I-A

    EXCLUDED · INVESTMENTS · DE · 62.278% owned · share of income $1,928,235 · share of assets $5,815,515

    Directly controlled by KS

  • CSKS OPPS FUND LP

    EXCLUDED · INVESTMENTS · DE · 99.001% owned · share of income $2,781,061 · share of assets $12,884,539

    Directly controlled by KS

  • KSOH FUND LLC

    EXCLUDED · INVESTMENTS · DE · 98.907% owned · share of income $498,524 · share of assets $27,506,327

    Directly controlled by KS

  • KSBCS FUND LP

    EXCLUDED · INVESTMENTS · DE · 100% owned · share of income -$1,781,167 · share of assets $7,059,097

    Directly controlled by KS

  • MANULELE HOLDINGS

    EXCLUDED · INVESTMENT · HI · 51.286% owned · share of income -$152,046 · share of assets $435,334

    Directly controlled by KS

Related corporations and trusts

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

  • BISHOP HOLDINGS CORPORATION

    C CORP · HOLDING COMPANY · HI · 100% owned · share of income $452,596 · share of assets $16,057,948 · controlled entity

    Directly controlled by KAMEHAMEHA SCH

  • PAUAHI MANAGEMENT CORPORATION

    C CORP · PROPERTY MGMT · HI · share of income $0 · share of assets $0 · controlled entity

    Directly controlled by BISHOP HOLDINGS

  • KAMEHAMEHA INVESTMENT CORPORATION

    C CORP · RE DEV/INVESTMENT · HI · share of income $0 · share of assets $0 · controlled entity

    Directly controlled by BISHOP HOLDINGS

  • KBH INC

    C CORP · RE ASSET MGMT · HI · share of income $0 · share of assets $0 · controlled entity

    Directly controlled by PAUAHI MGT CORP

  • KEAUHOU COMMUNITY SERVICES INC

    C CORP · WASTEWATER TRMT · HI · share of income $0 · share of assets $0 · controlled entity

    Directly controlled by KAMEHAMEHA INV

  • KAUPULEHU FOUNDATION

    C CORP · LAND MANAGEMENT · HI · 100% owned · share of income $164,148 · share of assets $158,224 · controlled entity

    Directly controlled by KAMEHAMEHA SCH

  • KAIAULU'O KAKA'AKO OWNERS ASSOC INC

    C CORP · OWNER ASSOCIATION · HI · 100% owned · share of income $350,981 · share of assets $43,640 · controlled entity

    Directly controlled by KAMEHAMEHA SCH

  • KS ALCENTRA EUROPE SARL

    C CORP · INVESTMENTS · LU · share of income $0 · share of assets $0 · controlled entity

    Directly controlled by KAMEHAMEHA SCH

  • KAMVUS FUND

    C CORP · INVESTMENTS · EI · 95.81% owned · share of income $75,503,009 · share of assets $272,842,935 · controlled entity

    Directly controlled by KAMEHAMEHA SCH

Provenance

Return type
form_990
Tax year
2023
Filed
9 May 2025
IRS schema version
2023v6.0
Source object
202521359349307492

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