Form990
Click to see attachment
Department of the Treasury
Internal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung benefit trust or private foundation)

MediumBullet The organization may have to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0047
2010
Open to Public Inspection
A For the calendar year, or tax year beginning 07-01-2010 and ending 06-30-2011
BCheck if applicable:
CName of organization
TRUSTEES OF THE ESTATE OF BERNICE
PAUAHI BISHOP DBA KAMEHAMEHA SCHOOLS
Doing Business As
KAMEHAMEHA SCHOOLS
 
Number and street (or P.O. box if mail is not delivered to street address)
PO BOX 3466
 
Room/suite
City or town, state or country, and ZIP + 4
HONOLULU, HI96801
D Employer identification number

99-0073480
E Telephone number

G Gross receipts $ 4,066,737,323
F Name and address of principal officer:
DEE JAY MAILER
567 SOUTH KING STREET
HONOLULU,HI96813
I
Tax-exempt status: (   ) LeftBullet (insert no.) or
J
Website:MediumBullet
WWW.KSBE.EDU
H(a)
Is this a group return for
affiliates?
H(b)
Are all affiliates included?
If "No," attach a list. (see instructions)
H(c)
Group exemption number MediumBullet  
K Form of organization:
 
L Year of formation: 1887
M State of legal domicile: HI
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: SEE SCHEDULE OKAMEHAMEHA 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.
2 Check this box MediumBullet
3 Number of voting members of the governing body (Part VI, line 1a) .... 3 5
4 Number of independent voting members of the governing body (Part VI, line 1b) .... 4 4
5 Total number of individuals employed in calendar year 2010 (Part V, line 2a) ... 5 3,561
6 Total number of volunteers (estimate if necessary) .... 6 2,800
7a Total unrelated business revenue from Part VIII, column (C), line 12 .. 7a 2,302,461
b Net unrelated business taxable income from Form 990-T, line 34 .. 7b 788,567
Revenues; Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 500,000 10,000
9 Program service revenue (Part VIII, line 2g) ......... 27,914,666 28,516,135
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 202,423,212 390,274,910
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 102,916,347 105,241,145
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)................... 333,754,225 524,042,190
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 61,515,058 62,735,827
14 Benefits paid to or for members (Part IX, column (A), line 4) .... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 156,565,175 163,346,847
16a Professional fundraising fees (Part IX, column (A), line 11e).... 0 0
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet0    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24f).... 137,585,242 138,171,863
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 355,665,475 364,254,537
19 Revenue less expenses. Subtract line 18 from line 12...... -21,911,250 159,787,653
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............ 6,414,591,498 7,277,105,989
21 Total liabilities (Part X, line 26)............ 480,978,454 429,325,895
22 Net assets or fund balances. Subtract line 21 from line 20 ..... 5,933,613,044 6,847,780,094
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
JumboBullet
Signature of officer Date
JumboBullet
Type or print name and title.
Paid Preparer's Use Only Preparer's
signatureBig Right Arrow 		Date
right pointing bullet image Preparer’s taxpayer identification number
(see instructions)
Firm’s name (or yours
if self-employed),
address, and ZIP + 4Big Right Arrow




 		EIN right pointing bullet image
Phone no. right pointing bullet image
May the IRS discuss this return with the preparer shown above? (see instructions) .........
For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y
Form 990 (2010)
Form 990 (2010)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response to any question in this Part III . . . . . . . . . .
1
Briefly describe the organization’s 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.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? ....................
If “Yes,” describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program services? ..........................
If “Yes,” describe these changes on Schedule O.
4
Describe the exempt purpose achievements for each of the organization’s three largest program services by expenses.
Section 501(c)(3) and 501(c)(4) organizations and section 4947(a)(1) trusts are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 264,397,341 including grants of $ 62,735,827 ) (Revenue $ 28,516,135 )
KAMEHAMEHA SCHOOLS WAS ESTABLISHED UNDER THE WILL AND CODICILS OF BERNICE PAUAHI BISHOP IN 1887 AND IS NOW ONE OF THE LARGEST SCHOOLS IN THE UNITED STATES SERVING GRADES K-12 AND 31 PRESCHOOLS. FOR APPROXIMATELY ONE HUNDRED AND TWENTY-FIVE 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).AS OF JUNE 30, 2011, THE OVERALL FAIR VALUE OF KAMEHAMEHA SCHOOLS' ENDOWMENT WAS APPROXIMATELY $9.1 BILLION. THE FAIR VALUE EXCLUDES NON-INVESTMENT RELATED ASSETS, SUCH AS EDUCATIONAL, ADMINISTRATIVE, AND AGRICULTURAL AND CONSERVATION ASSETS AND IS USED FOR TRUST SPENDING PURPOSES.FOR THE FISCAL YEAR ENDED JUNE 30, 2011, KAMEHAMEHA SCHOOLS SPENT APPROXIMATELY $315 MILLION ON EDUCATIONAL PROGRAMS AND EDUCATIONAL SUPPORT, WITH $106 MILLION SPENT ON COMMUNITY-FOCUSED PROGRAMS AND $138 MILLION SPENT ON CAMPUS-BASED PROGRAMS. THESE FINANCIAL RESOURCES ENABLED KAMEHAMEHA SCHOOLS TO EXTEND ITS EDUCATIONAL REACH TO MORE HAWAIIANS THROUGH ITS EDUCATION STRATEGIC PLAN, ADOPTED IN 2005 AND BASED ON THE KAMEHAMEHA SCHOOLS STRATEGIC PLAN 2000-2015.FISCAL YEAR 2011 WAS THE SIXTH YEAR OF THE 10-YEAR EDUCATION STRATEGIC PLAN, AND THE NUMBER OF CHILDREN AND FAMILIES IMPACTED BY KAMEHAMEHA'S CAMPUS AND COMMUNITY PROGRAMS INCREASED BY MORE THAN 3 PERCENT, FROM APPROXIMATELY 45,500 LEARNERS TO MORE THAN 46,900 LEARNERS. MORE THAN 12,800 PARENTS AND CAREGIVERS WERE PROVIDED TRAINING AND SUPPORT FOR FAMILIES AND CAREGIVERS OF CHILDREN IN THE PRENATAL TO GRADE 12 COMMUNITY.PRENATAL TO 8 YEARS OF AGE:KAMEHAMEHA SCHOOLS SERVED MORE THAN 14,000 KEIKI AGES 0-8 AND THEIR PARENTS AND CAREGIVERS THROUGH ITS KS CENTER-BASED PRESCHOOLS, PRESCHOOL SCHOLARSHIPS, LITERACY INSTRUCTION AND VARIOUS EDUCATIONAL COLLABORATIONS. THAT NUMBER INCLUDED MORE THAN 1,500 STUDENTS AT 31 KS PRESCHOOL SITES ACROSS THE STATE AND NEARLY 4,000 STUDENTS SERVED THROUGH COMMUNITY COLLABORATIONS. OVER 2,300 PAUAHI KEIKI SCHOLARSHIPS WERE AWARDED TOTALING $13.5 MILLION.GRADES 4 THROUGH POST-HIGH:KAMEHAMEHA SCHOOLS SERVED MORE THAN 9,000 LEARNERS THROUGH ITS EXTENSION EDUCATION AND DISTANCE LEARNING PROGRAMS SUCH AS THE EXPLORATIONS SERIES, KAMEHAMEHA SCHOLARS, 'IKE PONO AND CAREER & POST-HIGH COUNSELING. MORE THAN 2,100 POST-HIGH SCHOLARSHIPS WERE AWARDED TOTALING $14.6 MILLION AND MORE THAN 3,800 STUDENTS WERE SUPPORTED WITH $10.6 MILLION IN PER-PUPIL FUNDING AND SUPPORT TO 17 OF THE DEPARTMENT OF EDUCATION'S 31 PUBLIC CHARTER SCHOOLS. MORE THAN 1,600 NON-CAMPUS LEARNERS WERE ENROLLED IN CAMPUS-BASED SUMMER PROGRAMS.CAMPUS PROGRAMS:KAMEHAMEHA SCHOOLS EDUCATED MORE THAN 5,390 STUDENTS, INCLUDING GRADUATING MORE THAN 690 SENIORS, AT CAMPUS PROGRAMS ON HAWAI'I, ON MAUI AND AT KAPALAMA. ORPHAN AND INDIGENT CHILDREN COMPRISED APPROXIMATELY 31 PERCENT OF STUDENTS INVITED TO CAMPUS PROGRAMS AND 25 PERCENT OF STUDENTS ENROLLED DURING FISCAL YEAR 2011. FOR MORE, INCLUDING A COPY OF KAMEHAMEHA SCHOOLS' AUDITED "CONSOLIDATED FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES" FOR FISCAL YEAR 2011, PLEASE VISIT WWW.KSBE.EDU/ANNUALREPORTS.
4b (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
4c (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
4d Other program services. (Describe in Schedule O.)
(Expenses $   including grants of $   ) (Revenue $   )
4e Total program service expensesMediumBullet$ 264,397,341
Form 990 (2010)
Form 990 (2010)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If “Yes,” complete Schedule AClick to see attachment.....................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors? Click to see attachment........
2
Yes
 
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If “Yes,” complete Schedule C, Part IClick to see attachment..........
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities? If “Yes,” complete Schedule C,
Part IIClick to see attachment.........................
4
Yes
 
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If “Yes,” complete Schedule C, Part IIIClick to see attachment........................
5
 
No
6
Did the organization maintain any donor advised funds or any similar funds or accounts where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If “Yes,” complete
Schedule D, Part IClick to see attachment.......................
6
Yes
 
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas or historic structures? If “Yes,” complete Schedule D, Part IIClick to see attachment...
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If “Yes,” complete Schedule D, Part III Click to see attachment....................
8
Yes
 
9
Did the organization report an amount in Part X, line 21; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If “Yes,”
complete Schedule D, Part IVClick to see attachment...................
9
 
No
10
Did the organization, directly or through a related organization, hold assets in term, permanent,or quasi-endowments? If “Yes,” complete Schedule D, Part VClick to see attachment
10
 
No
11
If the organization’s answer to any of the following questions is ‘Yes,’ then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable:
a
Did the organization report an amount for land, buildings, and equipment in Part X, line10? If “Yes,” complete Schedule D, Part VI.Click to see attachment
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VII.Click to see attachment
11b
Yes
 
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VIII.Click to see attachment
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part IX.Click to see attachment
11d
 
No
e
Did the organization report an amount for other liabilities in Part X, line 25? If “Yes,” complete Schedule D, Part X.Click to see attachment
11e
Yes
 
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If “Yes,” complete Schedule D, Part X.Click to see attachment
11f
Yes
 
12a
Did the organization obtain separate, independent audited financial statements for the tax year? If “Yes,” complete Schedule D, Parts XI, XII, and XIII Click to see attachment
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If “Yes,” and if the organization answered ‘No’ to line 12a, then completing Schedule D, Parts XI, XII, and XIII is optional Click to see attachment
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If “Yes,” complete Schedule EClick to see attachment
13
Yes
 
14a
Did the organization maintain an office, employees, or agents outside of the United States?....
14a
Yes
 
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, and program service activities outside the United States? If “Yes,” complete Schedule F, Part I......... Click to see attachment
14b
Yes
 
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or assistance to any organization or entity located outside the U.S.? If “Yes,” complete Schedule F, Part II.. Click to see attachment
15
 
No
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or assistance to individuals located outside the U.S.? If “Yes,” complete Schedule F, Part III.. Click to see attachment
16
 
No
17
Did the organization report a total of more than $15,000, of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If “Yes,” complete Schedule G, Part I
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If “Yes,” complete Schedule G, Part II..........
18
Yes
 
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If “Yes,” complete Schedule G, Part III...................
19
 
No
Form 990 (2010)
Form 990 (2010)
Page 4
Part IV
Checklist of Required Schedules (continued)
20a
Did the organization operate one or more hospitals? If “Yes,” complete Schedule H.....
20a
 
No
b
Did the organization attach its audited financial statement to this return? Note: All Form 990 filers that operate one or more hospitals must attach audited financial statements. .....
20b
 
 
21
Did the organization report more than $5,000 of grants and other assistance to governments and organizations in the United States on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.. Click to see attachment
21
Yes
 
22
Did the organization report more than $5,000 of grants and other assistance to individuals in the United States on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III..... Click to see attachment
22
Yes
 
23
Did the organization answer “Yes” to Part VII, Section A, questions 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If “Yes,” complete Schedule J................ Click to see attachment
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer questions 24b–24d and complete Schedule K. If “No,” go to line 25................
24a
 
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds?......................
24c
 
 
d
Did the organization act as an “on behalf of” issuer for bonds outstanding at any time during the year?...
24d
 
 
25a
Section 501(c)(3) and 501(c)(4) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If “Yes,” complete Schedule L, Part I...... Click to see attachment
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If “Yes,” complete Schedule L, Part I................ Click to see attachment
25b
 
No
26
Was a loan to or by a current or former officer, director, trustee, key employee, highly compensated employee, or disqualified person outstanding as of the end of the organization’s tax year? If “Yes,” complete Schedule L,
Part II........................... Click to see attachment
26
 
No
27
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor, or a grant selection committee member, or to a person related to such an individual? If “Yes,” complete Schedule L, Part III............... Click to see attachment
27
 
No
28
Was the organization a party to a business transaction with one of the following parties? (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, or key employee? If “Yes,” complete Schedule L, Part IV ......................... Click to see attachment
28a
 
No
b
A family member of a current or former officer, director, trustee, or key employee? If “Yes,”
complete Schedule L, Part IV................... Click to see attachment
28b
 
No
c
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or owner? If “Yes,” complete Schedule L, Part IV.. Click to see attachment
28c
Yes
 
29
Did the organization receive more than $25,000 in non-cash contributions? If “Yes,” complete Schedule M
29
 
No
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If “Yes,” complete Schedule M............
30
 
No
31
Did the organization liquidate, terminate, or dissolve and cease operations? If “Yes,” complete Schedule N,
Part I...........................
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If “Yes,” complete Schedule N, Part II.......................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If “Yes,” complete Schedule R, Part I........ Click to see attachment
33
Yes
 
34
Was the organization related to any tax-exempt or taxable entity? If “Yes,” complete Schedule R, Parts II, III, IV, and V, line 1..................... Click to see attachment
34
Yes
 
35
Is any related organization a controlled entity within the meaning of section 512(b)(13)? .....
35
Yes
 
a
Did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If “Yes,” complete Schedule R, Part V, line 2... Click to see attachment
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If “Yes,” complete Schedule R, Part V, line 2........... Click to see attachment
36
 
No
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If “Yes,” complete Schedule R, Part VIClick to see attachment
37
 
No
38
Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11 and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Form 990 (2010)
Form 990 (2010)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response to any question in this Part V . . . . . . . . . .
Yes
No
1a
Enter the number reported in Box 3 of Form 1096. Enter -0- if not applicable. .......
1a
770
b
Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable.
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and Tax Statements filed for the calendar year ending with or within the year covered by this return .....................
2a
3,561
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?

Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file. (see instructions)
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?.............................
3a
Yes
 
b
If “Yes,” has it filed a Form 990-T for this year? If “No,” provide an explanation in Schedule O.....
3b
Yes
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account or securities account)?.......................
4a
Yes
 
b
If "Yes," enter the name of the foreign country: MediumBulletBR , CI , CH , EZ , CO , EG , GR , IC , IN , ID , JA , MU , PK , PE , PL , RO , KS , CE , TW , TU , AE
See instructions for filing requirements for Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts.
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If “Yes” to line 5a or 5b, did the organization file Form 8886-T? ........
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible?..........
6a
 
No
b
If “Yes,” did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?........................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?....................
7a
 
No
b
If “Yes,” did the organization notify the donor of the value of the goods or services provided?.....
7b
 
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?...........................
7c
 
No
d
If “Yes,” indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?..........................
7e
 
No
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?..
7f
 
No
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?...................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?...............
7h
 
 
8
Sponsoring organizations maintaining donor advised funds and section 509(a)(3) supporting organizations. Did the supporting organization, or a donor advised fund maintained by a sponsoring organization, have excess business holdings at any time during the year?................
8
 
 
9
Sponsoring organizations maintaining donor advised funds.
a
Did the organization make any taxable distributions under section 4966?.........
9a
 
 
b
Did the organization make a distribution to a donor, donor advisor, or related person?......
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them.) ........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If “Yes,” enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state?
Note. All 501(c)(29) organizations must list in Schedule O each state in which they are licensed to issue qualified health plans, the amount of reserves required by each state, and the amount of reserves the organization allocated to each state.
13a
 
 
b
Enter the aggregate amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans.
13b
 
c
Enter the aggregate amount of reserves on hand.
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
 
b
If "Yes," has it filed a Form 720 to report these payments? If “No,” provide an explanation in Schedule O..
14b
 
 
Form 990 (2010)
Form 990 (2010)
Page 6
Part VI
Governance, Management, and Disclosure For each “Yes” response to lines 2 through 7b below, and for a “No” response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response to any question in this Part VI . . . . . . . . . .
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year ..............
1a
5
b
Enter the number of voting members included in line 1a, above, who are independent .................
1b
4
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
Yes
 
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? ..
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed?
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Does the organization have members or stockholders? ................
6
 
No
7a
Does the organization have members, stockholders, or other persons who may elect one or more members of the governing body? .........................
7a
 
No
b
Are any decisions of the governing body subject to approval by members, stockholders, or other persons? ..
7b
 
No
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .........................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If “Yes,” provide the names and addresses in Schedule O .....
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal
Revenue Code.)
Yes
No
10a
Does the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If “Yes,” does the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with those of the organization? ....
10b
 
 
11a
Has the organization provided a copy of this Form 990 to all members of its governing body before filing the form?
11a
Yes
 
b
Describe in Schedule O the process, if any, used by the organization to review the Form 990. .....
12a
Does the organization have a written conflict of interest policy? If “No,” go to line 13.......
12a
Yes
 
b
Are officers, directors or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ...........................
12b
Yes
 
c
Does the organization regularly and consistently monitor and enforce compliance with the policy? If “Yes,” describe in Schedule O how this is done ....................
12c
Yes
 
13
Does the organization have a written whistleblower policy? ...............
13
Yes
 
14
Does the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line a or b, describe the process in Schedule O. (See instructions.)
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
Yes
 
b
If “Yes,” has the organization adopted a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and taken steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
Yes
 
Section C. Disclosure
17
List the States with which a copy of this Form 990 is required to be filedMediumBullet
HI
18
Section 6104 requires an organization to make its Form 1023 (or 1024 if applicable), 990, and 990-T (501(c)(3)s only) available for public inspection. Indicate how you make these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how), the organization makes its governing documents, conflict of interest policy, and financial statements available to the public.
20
State the name, physical address, and telephone number of the person who possesses the books and records of the organization: MediumBullet
DEBORAH ERSKINE CONTROLLER
567 SOUTH KING STREET SUITE 160
HONOLULU,HI968133036
(808) 523-6200
Form 990 (2010)
Form 990 (2010)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response to any question in this Part VII . . . . . . . . . .
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation, and current key employees. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

List persons in the following order: individual trustees or directors; institutional trustees; officers; key employees; highest
compensated employees; and former such persons.
Check this box if neither the organization nor any related organizations compensated any current or former officer, director, or trustee.
(A)
Name and Title 		(B)
Average hours per week (describe hours for related organizations in Schedule O) 		(C)
Position (check all that apply) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;
(1) MICAH KANE
TRUSTEE
 20.00 X           99,500 0 0
(2) J DOUGLAS ING
TRUSTEE
 20.00 X           95,150 0 0
(3) C NAINOA THOMPSON - SEE SCH O
TRUSTEE
 20.00 X           96,650 0 0
(4) DIANE PLOTTS
TRUSTEE
 20.00 X           108,125 0 0
(5) JANEEN-ANN OLDS - SEE SCH O
TRUSTEE
 20.00 X           0 0 0
(6) CORBETT KALAMA
TRUSTEE
 20.00 X           105,875 0 0
(7) DEE JAY MAILER
CEO
 50.00     X       533,706 0 60,704
(8) KIRK BELSBY
VP-ENDOWMENT
 50.00     X       684,404 0 153,928
(9) MICHAEL LOO - SEE SCH O
VP-FINANCE & FACILITIES
 50.00     X       317,610 0 25,965
(10) ANN BOTTICELLI
VP-COMM RELATIONS & COMMUNICATIONS
 50.00     X       179,672 0 28,842
(11) COLLEEN WONG
VP-LEGAL SERVICES
 50.00     X       250,247 0 61,228
(12) D ROD CHAMBERLAIN
VP-CAMPUS STRATEGIC & ACADEMIC
 50.00     X       250,624 0 51,153
(13) CHRISTOPHER PATING
VP-STRATEGIC PLNG & IMPLEMENTATION
 50.00     X       419,012 0 43,269
(14) SYLVIA HUSSEY
VP-ADMINISTRATION
 50.00     X       169,839 0 36,018
(15) ERIC MARLER - SEE SCH O
VP FINANCE & FACILITIES
 50.00     X       32,007 0 1,293
(16) BENJAMIN SALAZAR - SEE SCH O
INTERIM VP-FINANCE & FACILITIES
 50.00     X       156,625 0 18,378
(17) MICHAEL CHUN
HEADMASTER-KAPALAMA CAMPUS
 50.00       X     238,464 0 51,784
Form 990 (2010)
Form 990 (2010)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and Title 		(B)
Average hours per week (describe hours for related organizations in Schedule O) 		(C)
Position (check all that apply) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;
(18) STANLEY FORTUNA JR
HEADMASTER-HAWAII CAMPUS
 50.00       X     229,654 0 42,065
(19) LEE ANN DELIMA
HEADMASTER-MAUI CAMPUS
 50.00       X     191,040 0 39,743
(20) DARREL HOKE
DIR INTERNAL AUDIT
 50.00       X     198,959 0 25,732
(21) ELIZABETH HOKADA
DIR FINANCIAL ASSETS
 50.00       X     404,730 0 87,125
(22) CHRISTIAN MILLAN
INVESTMENT MANAGER - ENDOWMENT
 50.00         X   218,316 0 18,194
(23) PAUL QUINTILIANI
DIR COMMERCIAL ASSETS
 50.00         X   374,259 0 38,675
(24) SUSAN TODANI
DIR SPECIAL PROJECTS
 50.00         X   226,383 0 41,920
(25) BURTON YUEN
INVESTMENT MANAGER - ENDOWMENT
 50.00         X   247,066 0 28,179
(26) MICHAEL DANG
DIR PLANNING & DEVELOPMENT
 50.00         X   269,732 0 16,303








1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)............MediumBullet 6,097,649 0 870,498
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 in reportable compensation from the organizationMediumBullet121
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If “Yes,” complete Schedule J for such individual .............
3
 
No
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If “Yes,” complete Schedule J for such individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If “Yes,” complete Schedule J for such person .....
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
NORDIC PCL CORPORATION
1099 ALAKEA ST STE 1560
HONOLULU,HI96813 		CONSTRUCTION SERVICES 10,270,365
HAWAIIAN DREDGING CONSTRUCTION COMPANY
PO BOX 4088
HONOLULU,HI96812 		CONSTRUCTION SERVICES 4,077,067
GOTO CONSTRUCTION
42-273 OLD KALANIANAOLE HWY
KAILUA,HI96734 		CONSTRUCTION SERVICES 3,185,188
JAY KADOWAKI INC
518 AHUI ST
HONOLULU,HI96813 		CONSTRUCTION SERVICES 2,757,866
BRIDGEWATER ASSOCIATES LP
ONE GLENDINNING PL
WESTPORT,CT06880 		INVESTMENT MANAGEMENT SVCS 2,484,366
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 in compensation from the organization MediumBullet193
Form 990 (2010)
Form 990 (2010)
Page 9
Part VIII
Statement of Revenue
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512, 513, or 514
Contributions, gifts, grants and other similar amounts 1a Federated campaigns..1a  
b Membership dues....1b  
c Fundraising events....1c  
d Related organizations...1d  
e Government grants (contributions)1e  
f All other contributions, gifts, grants, and
similar amounts not included above1f 		10,000
g Noncash contributions included in lines 1a-1f:$  
h Total. Add lines 1a-1f.......MediumBullet 10,000
Program Service Revenue Business Code
2a TUITION 611,600 13,891,368 13,891,368    
b FOOD SERVICES 611,600 7,109,808 7,109,808    
c STUDENT FEES 611,600 6,486,204 6,486,204    
d CAMPUS OP RECOVERIES 611,600 444,053 444,053    
e STUDENT STORE 611,600 329,918 329,918    
f All other program service revenue . 254,784 217,931 853 36,000
g Total. Add lines 2a–2f........MediumBullet 28,516,135
Other Revenue 3 Investment income (including dividends, interest
and other similar amounts).....MediumBullet 75,380,644   379,054 75,001,590
4 Income from investment of tax-exempt bond proceeds..MediumBullet        
5 Royalties............MediumBullet 343     343
(i) Real (ii) Personal
6a Gross Rents 231,965,640  
b Less: rental expenses 133,574,751  
c Rental income or (loss) 98,390,889  
d Net rental income or (loss).......MediumBullet 98,390,889     98,390,889
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory 3,683,103,232 40,673,955
b Less: cost or other basis and sales expenses 3,408,440,263 442,658
c Gain or (loss) 274,662,969 40,231,297
d Net gain or (loss)..........MediumBullet 314,894,266     314,894,266
8a Gross income from fundraising events (not including
$  
of contributions reported on line 1c). See Part IV, line 18 ...
a 604,500
b Less: direct expenses ...b 237,461
c Net income or (loss) from fundraising events..MediumBullet 367,039   367,039
9a Gross income from gaming activities.
See Part IV, line 19 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from gaming activities...MediumBullet        
10a Gross sales of inventory, less
returns and allowances .
a  
b Less: cost of goods sold ..b  
c Net income or (loss) from sales of inventory..MediumBullet        
Miscellaneous Revenue Business Code
11a NET PREMIUMS EARNED 524,126 2,926,927 2,882,679 44,248  
b PARKING REVENUE 812,930 1,308,201   1,308,201  
c ADVERTISING REV 541,800 234,467   234,467  
d All other revenue .... 2,013,279 1,677,641 335,638  
e Total. Add lines 11a–11d ......MediumBullet 6,482,874
12 Total revenue. See Instructions....MediumBullet 524,042,190 33,039,602 2,302,461 488,690,127
Form 990 (2010)
Form 990 (2010)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A) but are not required to complete columns (B), (C), and (D).
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising expenses
1 Grants and other assistance to governments and organizations in the U.S. See Part IV, line 21 22,427,881 22,427,881
2 Grants and other assistance to individuals in the U.S. See Part IV, line 22 40,307,946 40,307,946
3 Grants and other assistance to governments, organizations, and individuals outside the U.S. See Part IV, lines 15 and 16    
4 Benefits paid to or for members    
5 Compensation of current officers, directors, trustees, and key employees .... 6,918,387 3,770,104 3,148,283  
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ....        
7 Other salaries and wages 116,914,127 93,159,896 23,754,231  
8 Pension plan contributions (include section 401(k) and section 403(b) employer contributions) .... 13,257,761 10,379,835 2,877,926  
9 Other employee benefits ....... 17,133,320 13,414,108 3,719,212  
10 Payroll taxes ........... 9,123,252 7,142,824 1,980,428  
11 Fees for services (non-employees):        
a Management ...... 84,170   84,170  
b Legal ......... 3,959,258   3,959,258  
c Accounting ........... 208,533   208,533  
d Lobbying ........... 115,427   115,427  
e Professional fundraising. See Part IV, line 17..    
f Investment management fees ...... 22,951,548   22,951,548  
g Other .......... 22,235,618 7,144,068 15,091,550  
12 Advertising and promotion .... 308,609 9,409 299,200  
13 Office expenses ....... 11,645,329 6,980,323 4,665,006  
14 Information technology ...... 10,669,498 929,714 9,739,784  
15 Royalties ..        
16 Occupancy ........... 10,671,027 9,513,699 1,157,328  
17 Travel ............ 3,413,081 2,823,009 590,072  
18 Payments of travel or entertainment expenses for any federal, state, or local public officials ......        
19 Conferences, conventions, and meetings .... 1,041,493 612,828 428,665  
20 Interest ........... 6,519,297 6,519,297    
21 Payments to affiliates ....... 487,744 295,333 192,411  
22 Depreciation, depletion, and amortization ..... 26,720,628 24,875,074 1,845,554  
23 Insurance .............. 587,557 1,747,451 -1,159,894  
24 Other expenses. Itemize expenses not covered above. (Expenses grouped together and labeled miscellaneous may not exceed 5% of total expenses shown on line 25 below.)
a REPAIRS AND ALTERATIONS 6,462,334 6,015,399 446,935  
b STUDENT EXPENSES 5,007,537 2,967,593 2,039,944  
c FOOD SERVICES 3,113,107 3,113,107    
d MISCELLANEOUS 1,970,068 248,443 1,721,625  
e
f All other expenses        
25 Total functional expenses. Add lines 1 through 24f 364,254,537 264,397,341 99,857,196 0
26 Joint costs. Check here MediumBullet if following
SOP 98-2 (ASC 958-720). Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation 		       
Form 990 (2010)
Form 990 (2010)
Page 11
Part X Balance Sheet
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash—non-interest-bearing .......... 24,469 1 23,167
2 Savings and temporary cash investments ....... 29,124,993 2 31,960,591
3 Pledges and grants receivable, net .........   3  
4 Accounts receivable, net ......... 3,032,679 4 4,346,316
5 Receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L ..........   5  
6 Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B). Complete Part II of
Schedule L ..........   6  
7 Notes and loans receivable, net .............   7  
8 Inventories for sale or use ..............   8  
9 Prepaid expenses and deferred charges ............ 107,071,538 9 108,620,836
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 1,379,430,746
b Less: accumulated depreciation. ..... 10b 511,044,757 855,899,570 10c 868,385,989
11 Investments—publicly traded securities .......... 1,799,724,176 11 2,108,834,955
12 Investments—other securities. See Part IV, line 11 ...... 3,407,293,698 12 4,042,325,476
13 Investments—program-related. See Part IV, line 11 ..   13  
14 Intangible assets .........   14  
15 Other assets. See Part IV, line 11 ........... 212,420,375 15 112,608,659
16 Total assets. Add lines 1 through 15 (must equal line 34)... 6,414,591,498 16 7,277,105,989
Liabilities 17 Accounts payable and accrued expenses . 61,992,160 17 61,958,998
18 Grants payable ..........   18  
19 Deferred revenue .......... 21,221,382 19 23,850,730
20 Tax-exempt bond liabilities ..........   20  
21 Escrow or custodial account liability. Complete Part IV of Schedule D..   21  
22 Payables to current and former officers, directors, trustees, key
employees, highest compensated employees, and disqualified
persons. Complete Part II of Schedule L..........   22  
23 Secured mortgages and notes payable to unrelated third parties .. 226,770,476 23 206,624,762
24 Unsecured notes and loans payable to unrelated third parties ....   24  
25 Other liabilities. Complete Part X of Schedule D..... 170,994,436 25 136,891,405
26 Total liabilities. Add lines 17 through 25..... 480,978,454 26 429,325,895
Net Assets or Fund Balance Organizations that follow SFAS 117, check here MediumBullet and complete lines 27 through 29, and lines 33 and 34.
27 Unrestricted net assets ..... 5,933,613,044 27 6,847,780,094
28 Temporarily restricted net assets .....   28  
29 Permanently restricted net assets .....   29  
Organizations that do not follow SFAS 117, check here MediumBullet and complete lines 30 through 34.
30 Capital stock or trust principal, or current funds .....   30  
31 Paid-in or capital surplus, or land, building or equipment fund .....   31  
32 Retained earnings, endowment, accumulated income, or other funds   32  
33 Total net assets or fund balances ..... 5,933,613,044 33 6,847,780,094
34 Total liabilities and net assets/fund balances ..... 6,414,591,498 34 7,277,105,989
Form 990 (2010)
Form 990 (2010)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response to any question in this Part XI . . . . . . . . . .
1
Total revenue (must equal Part VIII, column (A), line 12) . . .
1
524,042,190
2
Total expenses (must equal Part IX, column (A), line 25) . . . . .
2
364,254,537
3
Revenue less expenses. Subtract line 2 from line 1 . . . .
3
159,787,653
4
Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) . .
4
5,933,613,044
5
Other changes in net assets or fund balances (explain in Schedule O) . . . .
5
754,379,397
6
Net assets or fund balances at end of year. Combine lines 3, 4, and 5 (must equal Part X, line 33, column (B)) . . . . . .
6
6,847,780,094
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response to any question in this Part XII . . . . . . . . . .
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?..
2a
 
No
b
Were the organization’s financial statements audited by an independent accountant?........
2b
Yes
 
c
If “Yes,” to 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O............................
2c
Yes
 
d
If “Yes” to line 2a or 2b, check a box below to indicate whether the financial statements for the year were issued on a separate basis, consolidated basis, or both:
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133? ................
3a
 
No
b
If “Yes,” did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits. ..
3b
 
 
Form 990 (2010)
Additional Data


Software ID:  
Software Version:  
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE A
(Form 990 or 990EZ)

Department of the Treasury
Internal Revenue Service
Public Charity Status and Public Support

Complete if the organization is a section 501(c)(3) organization or a section
4947(a)(1) nonexempt charitable trust.
right arrow Attach to Form 990 or Form 990-EZ. right arrow See separate instructions.
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE
PAUAHI BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Part I
Reason for Public Charity Status (All organizations must complete this part.) See instructions
The organization is not a private foundation because it is: (For lines 1 through 11, check only one box.)
1
2
3
4
5
section 170(b)(1)(A)(iv). (Complete Part II.)
6
7
8
9
receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 331/3% of
its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses
acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)
10
11
e
f
g
(i) a person who directly or indirectly controls, either alone or together with persons described in (ii)
Yes
No
and (iii) below, the governing body of the the supported organization? ................
11g(i)
 
 
(ii) a family member of a person described in (i) above? ......................
11g(ii)
 
 
(iii) a 35% controlled entity of a person described in (i) or (ii) above? ................
11g(iii)
 
 
h
(i)
Name of supported organization 		(ii)
EIN 		(iii)
Type of organization (described on lines 1- 9 above or IRC section (see instructions)) 		(iv)
Is the organization in col. (i) listed in your governing document? 		(v)
Did you notify the organization in col. (i) of your support? 		(vi)
Is the organization in col. (i) organized in the U.S.? 		(vii)
Amount of support?
Yes No Yes No Yes No
Total                  

For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 11285F
Schedule A (Form 990 or 990-EZ) 2010
Schedule A (Form 990 or 990-EZ) 2010
Page 2
Part II
Support Schedule for Organizations Described in IRC 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization fails to qualify under the tests listed below, please complete Part III.)
Section A. Public Support
Calendar year(or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") ....            
2 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.......            
3 The value of services or facilities furnished by a governmental unit to the organization without charge..            
4 Total. Add lines 1 through 3..            
5 The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f)..            
6 Public Support. Subtract line 5 from line 4.            
Section B. Total Support
Calendar year(or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
7 Amounts from line 4..            
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..            
9 Net income from unrelated business activities, whether or not the business is regularly carried on..            
10 Other income. (Explain in Part IV.) Do not include gain or loss from the sale of capital assets..            
11 Total support (Add lines 7 through 10).            
12
12
 
13
Section C. Computation of Public Support Percentage
14
14
 
15
15
 
16a
b
17a
b
18
Schedule A (Form 990 or 990-EZ) 2010
Schedule A (Form 990 or 990-EZ) 2010
Page 3
Part III
Support Schedule for Organizations Described in IRC 509(a)(2)
(Complete only if you checked the box on line 9 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)
Section A. Public Support
Calendar year(or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .            
2 Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose......            
3 Gross receipts from activities that are not an unrelated trade or business under section 513..            
4 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...            
5 The value of services or facilities furnished by a governmental unit to the organization without charge..            
6 Total. Add lines 1 through 5.            
7a Amounts included on lines 1, 2, and 3 received from disqualified persons...            
b Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.            
c Add lines 7a and 7b..            
8 Public Support (Subtract line 7c from line 6.)            
Section B. Total Support
Calendar year (or fiscal year beginning in) (a) 2006 (b) 2007 (c) 2008 (d) 2009 (e) 2010 (f) Total
9 Amounts from line 6...            
10a Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..            
b Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.            
c Add lines 10a and 10b.            
11 Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on.            
12 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part IV.)            
13 Total support (Add lines 9, 10c, 11 and 12.).            
14
Section C. Computation of Public Support Percentage
15
15
 
16
16
 
Section D. Computation of Investment Income Percentage
17
17
 
18
18
 
19a
b
20
Schedule A (Form 990 or 990-EZ) 2010
Schedule A (Form 990 or 990-EZ) 2010
Page 4
Part IV
Supplemental Information. Supplemental Information. Complete this part to provide the explanation required by Part II, line 10; Part II, line 17a or 17b; or Part III, line 12. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
 
Explanation
 
 
 
 
Schedule A (Form 990 or 990-EZ) 2010

Additional Data


Software ID:  
Software Version:  
Schedule B
(Form 990, 990-EZ,
or 990-PF)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors
Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
OMB No. 1545-0047
2010
Name of organization
TRUSTEES OF THE ESTATE OF BERNICE
PAUAHI BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ





Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule—
Special Rules
......................... Arrow Bullet   $    
Caution. An Organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2 of its Form 990, or check the box in the heading of its
Form 990-EZ, or on line 2 of its Form 990-PF, to certify that it does not meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2010)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
Page 1 of 1 of Part I
Name of organization
TRUSTEES OF THE ESTATE OF BERNICE
PAUAHI BISHOP DBA KAMEHAMEHA SCHOOLS 		Employer identification number

99-0073480
Part I
Contributors (see Instructions)
     
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
RESTRICTED
RESTRICTED
 

     
RESTRICTED
RESTRICTED  
RESTRICTED, RESTRICTED   RESTRICTED

$RESTRICTED




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
Page 1 of 1 of Part II
Name of organization
TRUSTEES OF THE ESTATE OF BERNICE
PAUAHI BISHOP DBA KAMEHAMEHA SCHOOLS 		Employer identification number

99-0073480
Part II
Noncash Property (see Instructions)
     
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
Page 1 of 1 of Part III
Name of organization
TRUSTEES OF THE ESTATE OF BERNICE
PAUAHI BISHOP DBA KAMEHAMEHA SCHOOLS 		Employer identification number

99-0073480
Part III
Exclusively religious, charitable, etc., individual contributions to section 501(c)(7), (8), or (10) organizations
aggregating more than $1,000 for the year. (Complete columns (a) through (e) and the following line entry.)
For organizations completing Part III, enter the total of exclusively religious, charitable, etc.,
contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet $  
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Additional Data


Software ID:  
Software Version:  
SCHEDULE C
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Political Campaign and Lobbying Activities

For Organizations Exempt From Income Tax Under section 501(c) and section 527
SchCMd Bullet Complete if the organization is described below.
SchCMd Bullet Attach to Form 990 or Form 990-EZ. SchCMd Bullet See separate instructions.
OMB No. 1545-0047
2010
Open to Public
Inspection
If the organization answered “Yes,” to Form 990, Part IV, Line 3, or Form 990-EZ, Part V, line 46 (Political Campaign Activities), then
Round Bullet Section 501(c)(3) organizations: Complete Parts I-A and B. Do not complete Part I-C.
Round Bullet Section 501(c) (other than section 501(c)(3)) organizations: Complete Parts I-A and C below. Do not complete Part I-B.
Round Bullet Section 527 organizations: Complete Part I-A only.
If the organization answered “Yes,” to Form 990, Part IV, Line 4, or Form 990-EZ, Part VI, line 47 (Lobbying Activities), then
Round Bullet Section 501(c)(3) organizations that have filed Form 5768 (election under section 501(h)) Complete Part II-A. Do not complete Part II-B.
Round Bullet Section 501(c)(3) organizations that have NOT filed Form 5768 (election under section 501(h)): Complete Part II-B. Do not complete Part II-A.
If the organization answered “Yes,” to Form 990, Part IV, Line 5 (Proxy Tax) or Form 990-EZ, Part V, line 35a (Proxy Tax), then
Round Bullet Section 501(c)(4), (5), or (6) organizations: Complete Part III.
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE
PAUAHI BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Part I-A
Complete if the organization is exempt under section 501(c) or is a section 527 organization.

1
Provide a description of the organization's direct and indirect political campaign activities on behalf of or in opposition to candidates for public office in Part IV.
2
Political expenditures ....................................SchCMd Bullet
$  
3
Volunteer hours ........................................
 

Part I-B
Complete if the organization is exempt under section 501(c)(3).
1
Enter the amount of any excise tax incurred by the organization under section 4955 .........SchCMd Bullet
$  
2
Enter the amount of any excise tax incurred by organization managers under section 4955 ......SchCMd Bullet
$  
3
If the organization incurred a section 4955 tax, did it file Form 4720 for this year? ..............
4a
Was a correction made? .........................................
b
If "Yes," describe in Part IV.
Part I-C
Complete if the organization is exempt under section 501(c) except section 501(c)(3).
1
Enter the amount directly expended by the filing organization for section 527 exempt function activities SchCMd Bullet
$  
2
Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt funtion activities ....................................SchCMd Bullet

$  
3
Total exempt function expenditures. Add lines 1 and 2. Enter here and on Form 1120-POL, line 17b..SchCMd Bullet

$  
4
Did the filing organization file Form 1120-POL for this year? ..........................
5
Enter the names, addresses and employer identification number (EIN) of all section 527 political organizations to which the filing
organization made payments. For each organization listed, enter the amount paid from the filing organization’s funds. Also enter the amount of political contributions received that were promptly and directly delivered to a separate political organization, such as a separate segregated fund or a political action committee (PAC). If additional space is needed, provide information in Part IV.
(a) Name (b) Address (c) EIN (d) Amount paid from filing organization's funds. If none, enter -0-. (e) Amount of political contributions received and promptly and directly delivered to a separate political organization. If none, enter -0-.










For Privacy Act and Paperwork Reduction Act Notice, see the instructions for Form 990.
Cat. No. 50084S
Schedule C (Form 990 or 990-EZ) 2010

Schedule C (Form 990 or 990-EZ) 2010
Page 2
Part II-A
Complete if the organization is exempt under section 501(c)(3) and filed Form 5768 (election under section 501(h)).
A Check
B Check
Limits on Lobbying Expenditures
(The term "expenditures" means amounts paid or incurred.) 		(a) Filing
Organization's
Totals 		(b) Affiliated Group
Totals
1a Total lobbying expenditures to influence public opinion (grass roots lobbying) ...... 122  
b Total lobbying expenditures to influence a legislative body (direct lobbying) ....... 134,338  
c Total lobbying expenditures (add lines 1a and 1b) ................... 134,460  
d Other exempt purpose expenditures ........................ 264,262,881  
e Total exempt purpose expenditures (add lines 1c and 1d) ............... 264,397,341  
f Lobbying nontaxable amount. Enter the amount from the following table in both
columns.		 1,000,000  
  If the amount on line 1e, column (a) or (b) is:The lobbying nontaxable amount is:    
  Not over $500,00020% of the amount on line 1e.    
  Over $500,000 but not over $1,000,000$100,000 plus 15% of the excess over $500,000.    
  Over $1,000,000 but not over $1,500,000$175,000 plus 10% of the excess over $1,000,000.    
  Over $1,500,000 but not over $17,000,000$225,000 plus 5% of the excess over $1,500,000.    
  Over $17,000,000$1,000,000.    
       
g Grassroots nontaxable amount (enter 25% of line 1f) ................. 250,000  
h Subtract line 1g from line 1a. If zero or less, enter -0-. ................ 0  
i Subtract line 1f from line 1c. If zero or less, enter -0-. ................ 0  
j If there is an amount other than zero on either line 1h or line 1i, did the organization file Form 4720 reporting
section 4911 tax for this year? ......................................

4-Year Averaging Period Under Section 501(h)
(Some organizations that made a section 501(h) election do not have to complete all of the five
columns below. See the instructions for lines 2a through 2f on page 4.)
Lobbying Expenditures During 4-Year Averaging Period
  Calendar year (or fiscal year
beginning in) 		(a) 2007 (b) 2008 (c) 2009 (d) 2010 (e) Total
             
2a Lobbying non-taxable amount 1,000,000 1,000,000 1,000,000 1,000,000 4,000,000
             
b Lobbying ceiling amount
(150% of line 2a, column(e)) 		        6,000,000
             
c Total lobbying expenditures 435,885 187,825 111,953 134,460 870,123
             
d Grassroots non-taxable amount 250,000 250,000 250,000 250,000 1,000,000
             
e Grassroots ceiling amount
(150% of line 2d, column (e))		         1,500,000
             
f Grassroots lobbying expenditures   282 4,369 122 4,773
Schedule C (Form 990 or 990-EZ) 2010


Schedule C (Form 990 or 990-EZ) 2010
Page 3
Part II-B
Complete if the organization is exempt under section 501(c)(3) and has NOT filed Form 5768 (election under section 501(h)).
(a)
Yes
No
(b)
Amount
1
During the year, did the filing organization attempt to influence foreign, national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of:
a
Volunteers? .........................................
 
 
b
Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? ....
 
 
c
Media advertisements? ....................................
 
 
 
d
Mailings to members, legislators, or the public? .........................
 
 
 
e
Publications, or published or broadcast statements? .......................
 
 
 
f
Grants to other organizations for lobbying purposes? .......................
 
 
 
g
Direct contact with legislators, their staffs, government officials, or a legislative body? ........
 
 
 
h
Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? ......
 
 
 
i
Other activities? If "Yes," describe in Part IV ..........................
 
 
 
j
Total. lines 1c through 1i ...................................
 
2a
Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? .....
 
 
b
If "Yes," enter the amount of any tax incurred under section 4912 .................
 
c
If "Yes," enter the amount of any tax incurred by organization managers under section 4912 .....
 
d
If the filing organization incurred a section 4912 tax, did it file Form 4720 for this year? .......
 
 
Part III-A
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6).
Yes
No
1
Were substantially all (90% or more) dues received nondeductible by members? ................
1
 
 
2
Did the organization make only in-house lobbying expenditures of $2,000 or less? ................
2
 
 
3
Did the organization agree to carryover lobbying and political expenditures from the prior year? ..........
3
 
 
Part III-B
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6) if BOTH Part III-A, lines 1 and 2 are answered “No” OR if Part III-A, line 3 is answered “Yes”.
1
Dues, assessments and similar amounts from members .....................
1
 
2
Section 162(e) non-deductible lobbying and political expenditures (do not include amounts of political
expenses for which the section 527(f) tax was paid).
a
Current year .........................................
2a
 
b
Carryover from last year ....................................
2b
 
c
Total ...........................................
2c
 
3
Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues .
3
 
4
If notices were sent and the amount on line 2c exceeds the amount on line 3, what portion of the excess does the organization agree to carryover to the reasonable estimate of nondeductible lobbying and political expenditure next year? ................................
4
 
5
Taxable amount of lobbying and political expenditures (see instructions) ..............
5
 
Part IV
Supplemental Information
Complete this part to provide the descriptions required for Part l-A, line 1; Part l-B, line 4; Part l-C, line 5; and Part ll-B, line 1i.
Also, complete this part for any additional information.
Identifier Return Reference Explanation
Schedule C (Form 990 or 990EZ) 2010

Additional Data


Software ID:  
Software Version:  

SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11, or 12.
SchDMd Bullet Attach to Form 990. SchDMd Bullet See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE
PAUAHI BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .......   3
2 Aggregate contributions to (during year) ...   0
3 Aggregate grants from (during year) ...   35,000
4 Aggregate value at end of year .......   2,090,439
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds may be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit. ...................................
Part II
Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a–2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ....................... 2a  
b Total acreage restricted by conservation easements .................. 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after 8/17/06 ........ 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the taxable year SchDMd Bullet  
4
Number of states where property subject to conservation easement is located SchDMd Bullet  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................
6
Staff and volunteer hours devoted to monitoring, inspecting and enforcing conservation easements during the year SchDMd Bullet  
7
Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year SchDMd Bullet $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section
170(h)(4)(B)(i) and 170(h)(4)(B)(ii)? ....................................
9
In Part XIV, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" to Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under SFAS 116, not to report in its revenue statement and balance sheet works of
art, historical treasures, or other similar assets held for public exhibition, education or research in furtherance of public service,
provide, in Part XIV, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under SFAS 116, to report in its revenue statement and balance sheet works of art,
historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service,
provide the following amounts relating to these items:
(i)
Revenues included in Form 990, Part VIII, line 1 ........................SchDMd Bullet $ 0
(ii)
Assets included in Form 990, Part X ..............................SchDMd Bullet $ 450,000
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 relating to these items:
a
Revenues included in Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990
Cat. No. 52283D
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s accession and other records, check any of the following that are a significant use of its collection
items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIV.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?........
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990,
Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b
If "Yes," explain the arrangement in Part XIV and complete the following table:
Amount
c Beginning balance ................................. 1c  
d Additions during the year .............................. 1d  
e Distributions during the year ............................. 1e  
f Ending balance ................................... 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21? .....................
b
If “Yes,” explain the arrangement in Part XIV.
Part V
Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.
(a)Current Year (b)Prior Year (c)Two Years Back (d)Three Years Back (e)Four Years Back
1a Beginning of year balance ....      
b Contributions ........      
c Investment earnings or losses ...      
d Grants or scholarships .....      
e Other expenditures for facilities
and programs ........ 		     
f Administrative expenses ....      
g End of year balance ......      
2
Provide the estimated percentage of the year end balance held as:
a
Board designated or quasi-endowment: SchDMd Bullet  
b
Permanent endowment: SchDMd Bullet  
c
Term endowment: SchDMd Bullet  
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) unrelated organizations ........................
3a(i)
 
 
(ii) related organizations ........................
3a(ii)
 
 
b
If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIV the intended uses of the organization's endowment funds.
Part VI
Investments—Land, Buildings, and Equipment. See Form 990, Part X, line 10.
Description of investment (a) Cost or other basis (investment) (b)Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .................   90,842,892 90,842,892
b Buildings ................   1,156,523,955 472,914,345 683,609,610
c Leasehold improvements ............        
d Equipment ................   53,841,037 38,130,412 15,710,625
e Other .................   78,222,862   78,222,862
Total. Add lines 1a-1e. (Column (d) should equal Form 990, Part X, column (B), line 10(c).)........SchDMdBullet 868,385,989
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 3
Part VII
Investments—Other Securities. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b)Book value (c) Method of valuation:
Cost or end-of-year market value
(1)Financial derivatives    
(2)Closely-held equity interests    
(3)Other
(A) HEDGE FUNDS 		2,438,894,000 F

(B) PRIVATE EQUITY FUNDS 		970,578,000 F

(C) COMMINGLED FUNDS 		602,090,000 F

(D) OTHER 		30,763,476 F





Total. (Column (b) should equal Form 990, Part X, col.(B) line 12.)Small Bullet 4,042,325,476
Part VIII
Investments—Program Related. See Form 990, Part X, line 13.
(a) Description of investment type (b) Book value (c) Method of valuation:
Cost or end-of-year market value








Total. (Column (b) should equal Form 990, Part X, col.(B) line 13.)Small Bullet  
Part IX
Other Assets. See Form 990, Part X, line 15.
(a) Description (b) Book value








Total. (Column (b) should equal Form 990, Part X, col.(B) line 15.)...........Small Bullet  
Part X
Other Liabilities. See Form 990, Part X, line 25.
1.(a) Description of Liability (b) Amount
Federal Income Taxes  
ACCRUED PENSION LIABILITY 69,685,539
ACCRUED POSTRETIREMENT 32,782,803
AMOUNTS PAYABLE FOR SECURITIES PURCHASED 29,262,000
DEFERRED COMPENSATION PLAN 5,161,063





Total. (Column (b) should equal Form 990, Part X, col.(B) line 25.)Small Bullet 136,891,405
2. Fin 48 (ASC 740) Footnote. In Part XIV, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC740).
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 4
Part XI Reconciliation of Change in Net Assets from Form 990 to Financial Statements
1 Total revenue (Form 990, Part VIII, column (A), line 12) .................... 1 524,042,190
2 Total expenses (Form 990, Part IX, column (A), line 25) ..................... 2 364,254,537
3 Excess or (deficit) for the year. Subtract line 2 from line 1 ............. 3 159,787,653
4 Net unrealized gains (losses) on investments .......................... 4 724,317,376
5 Donated services and use of facilities ............................. 5  
6 Investment expenses ................................... 6  
7 Prior period adjustments .................................. 7  
8 Other (Describe in Part XIV) ................................. 8 30,062,021
9 Total adjustments (net). Add lines 4 - 8 ............................. 9 754,379,397
10 Excess or (deficit) for the year per financial statements. Combine lines 3 and 9 ......... 10 914,167,050
Part XII Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
1 Total revenue, gains, and other support per audited financial statements ....... 1 1,341,913,787
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains on investments .......... 2a 724,317,376
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIV): ............ 2d -12,911,205
e Add lines 2a through 2d ..................... 2e 711,406,171
3 Subtract line 2e from line 1..................... 3 630,507,616
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a 22,951,548
b Other (Describe in Part XIV): ........... 4b -129,416,974
c Add lines 4a and 4b....................... 4c -106,465,426
5 Total Revenue. Add lines 3 and 4c. (This should equal Form 990, Part I, line 12.) ...... 5 524,042,190
Part XIII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
1 Total expenses and losses per audited financial statements ............. 1 460,179,699
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities .......... 2a  
b Prior year adjustments .............. 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIV): ............ 2d 135,531,921
e Add lines 2a through 2d...................... 2e 135,531,921
3 Subtract line 2e from line 1..................... 3 324,647,778
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a 22,951,548
b Other (Describe in Part XIV): ............ 4b 16,655,211
c Add lines 4a and 4b....................... 4c 39,606,759
5 Total expenses. Add lines 3 and 4c. (This should equal Form 990, Part I, line 18.) ...... 5 364,254,537
Part XIV
Supplemental Information
Complete this part to provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X; Part XI, line 8; Part XII, lines 2d and 4b; and Part XIII, lines 2d and 4b. Also complete this part to provide any additional information.
Identifier Return Reference Explanation
  PART III, LINE 4: THE KAMEHAMEHA SCHOOLS ART COLLECTION INCLUDES OVER 500 ART PIECES THAT HAVE BEEN PURCHASED, COMMISSIONED OR ACQUIRED THROUGH DONATIONS. THE PIECES RANGE FROM HISTORICAL TO CONTEMPORARY AND ENCOMPASS A BROAD SPECTRUM OF MEDIA INCLUDING SCULPTURE, DRAWING, PAINTING, PRINTING AND PHOTOGRAPHY. THE ART COLLECTION IS MANAGED BY THE KAMEHAMEHA SCHOOLS 'IKE HAWAI'I ART CONSORTIUM, A CAREFULLY SELECTED GROUP COMPOSED OF FACULTY AND STAFF MEMBERS FROM THROUGHOUT THE ORGANIZATION. THE PRIMARY FOCUS OF THE CONSORTIUM IS TO IDENTIFY WAYS TO SHARE THE KS ART COLLECTION FOR EDUCATIONAL PURPOSES AND TO CARE FOR THE COLLECTION. THE CONSORTIUM ALSO OVERSEES THE ACQUISITION OF NEW ART PIECES THROUGH DONATION OR ACQUISITION. KAMEHAMEHA SCHOOLS HAS IDENTIFIED THE FOLLOWING AS THE ROLE OF ART WITHIN THE INSTITUTION: TO INSPIRE AND EDUCATE TO FOSTER AN APPRECIATION AND RESPECT FOR ARTISTIC EXPRESSION TO EMBODY THE ESSENCE OF NATIVE HAWAIIAN LANGUAGE, CULTURE, HISTORY, TRADITIONS AND VALUES THE VAST COLLECTION SERVES AS A VALUABLE EDUCATIONAL RESOURCE FOR TEACHERS AND THEIR STUDENTS.
PART XI, LINE 8 - OTHER ADJUSTMENTS:   EQUITY IN EARNINGS OF SUBS -578,403. RETIREMENT PLAN CHANGES OTHER THAN NET PERIOD COST 30,640,424.
PART XII, LINE 2D - OTHER ADJUSTMENTS:   IN-KIND RENT 198,789. EQUITY IN EARNINGS OF SUBS -578,403. ACTIVITIES OF WHOLLY OWNED SUBS (REVENUE) 4,322,409. FINANCIAL AID -16,745,419. PARKING EXPENSE -108,581.
PART XII, LINE 4B - OTHER ADJUSTMENTS:   EXPENSE RECOVERIES 1,554,516. RENTAL EXPENSE -133,200,562. BENEFITS REALLOCATION ADJUSTMENT -482,770. P&C NET PREMIUMS EARNED 2,926,927. FUNDRAISING EXPENSE -237,461. CONFERENCE FEES 22,376.
PART XIII, LINE 2D - OTHER ADJUSTMENTS:   ACTIVITIES OF WHOLLY OWNED SUBS 6,114,947. EXPENSE RECOVERIES -1,554,516. RENTAL EXPENSE 133,200,562. BENEFITS REALLOCATION ADJUSTMENT 482,770. P&C NET PREMIUMS EARNED -2,926,927. FUNDRAISING EXPENSE 237,461. CONFERENCE FEES -22,376.
PART XIII, LINE 4B - OTHER ADJUSTMENTS:   FINANCIAL AID 16,745,419. IN-KIND RENT -198,789. PARKING EXPENSE 108,581.
    PART X: LINE 2 FIN 48 (ASC 740) FOOTNOTE: THE ORGANIZATION EVALUATES UNCERTAIN TAX POSITIONS UTILIZING A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. AT JUNE 30, 2011, MANAGEMENT BELIEVES THERE WERE NO SIGNIFICANT UNCERTAIN TAX POSITIONS.
Schedule D (Form 990) 2010

Additional Data


Software ID:  
Software Version:  




SCHEDULE E(Form 990 or 990-EZ)
Department of the TreasuryInternal Revenue Service
Schools
Right pointing arrow large imageComplete if the organization answered "Yes" to Form 990, Part IV, line 13,
or Form 990-EZ, Part VI, line 48.
Right pointing arrow large image Attach to Form 990 or Form 990-EZ.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE
PAUAHI BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Part I
YES
NO
1
Does the organization have a racially nondiscriminatory policy toward students by statement in its charter, bylaws,
other governing instrument, or in a resolution of its governing body? ......................
1
Yes
 
2
Does the organization include a statement of its racially nondiscriminatory policy toward students in all its
brochures, catalogues, and other written communications with the public dealing with student admissions,
programs, and scholarships? ......................................
2
Yes
 
3
Has the organization publicized its racially nondiscriminatory policy through newspaper or broadcast media during
the period of solicitation for students, or during the registration period if it has no solicitation program, in a way
that makes the policy known to all parts of the general community it serves? If "Yes," please describe. If "No,"
please explain. If you need more space use Part II. .............................
3
Yes
 
 
4
Does the organization maintain the following?
a
Records indicating the racial composition of the student body, faculty, and administrative staff? ..........
4a
Yes
 
b
Records documenting that scholarships and other financial assistance are awarded on a racially nondiscriminatory
basis? ...............................................
4b
Yes
 
c
Copies of all catalogues, brochures, announcements, and other written communications to the public dealing
with student admissions, programs, and scholarships? ...........................
4c
Yes
 
d
Copies of all material used by the organization or on its behalf to solicit contributions? ..............
4d
Yes
 
If you answered "No" to any of the above, please explain. If you need more space, use Part II.
 
5
Does the organization discriminate by race in any way with respect to:
a
Students' rights or privileges? .....................................
5a
 
No
b
Admissions policies? .........................................
5b
 
No
c
Employment of faculty or administrative staff? ..............................
5c
 
No
d
Scholarships or other financial assistance? ................................
5d
 
No
e
Educational policies? .........................................
5e
 
No
f
Use of facilities? ...........................................
5f
 
No
g
Athletic programs? ..........................................
5g
 
No
h
Other extracurricular activities? .....................................
5h
 
No
If you answered "Yes" to any of the above, please explain. If you need more space, use Part II.
 
6a
Does the organization receive any financial aid or assistance from a governmental agency? ............
6a
 
No
b
Has the organization's right to such aid ever been revoked or suspended? ...................
6b
 
No
If you answered "Yes" to either line 6a or line 6b, explain on Part II.
7
Does the organization certify that it has complied with the applicable requirements of sections 4.01 through 4.05
of Rev. Proc. 75-50, 1975-2 C.B. 587, covering racial nondiscrimination? If "No," explain on Part II.
7
Yes
 
Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50085D
Schedule E (Form 990 or 990-EZ) 2010
Schedule E (Form 990 or 990EZ) 2010
Page 2
Part II
Supplemental Information
Complete this part to provide the explanations required by Part I, lines 3, 4d, 5h, 6b, and 7, as applicable. Also complete this part to provide any other additional information (see instructions).
Identifier Return Reference Explanation
EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE NONDISCRIMINATORY POLICY IS PUBLISHED ANNUALLY IN A NEWSPAPER PUBLISHED IN THE STATE OF HAWAII THAT HAS GENERAL CIRCULATION IN THE STATE.
Schedule E (Form 990 or 990-EZ) 2010
Additional Data


Software ID:  
Software Version:  
SCHEDULE F
(Form 990)

Department of the Treasury
Internal Revenue Service
Statement of Activities Outside the United States
Right pointing arrow large image Complete if the organization answered "Yes" to Form 990,
Part IV, line 14b, 15, or 16.
Right pointing arrow large image Attach to Form 990. Right pointing arrow large image See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE
PAUAHI BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Part I
General Information on Activities Outside the United States. Complete if the organization answered
“Yes” to Form 990, Part IV, line 14b.
1
For grantmakers. Does the organization maintain records to substantiate the amount of the grants or
assistance, the grantees' eligibility for the grants or assistance, and the selection criteria used to award
the grants or assistance? ...................................
2
For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of grant funds outside the
United States.
3
Activites per Region. (Use Part V if additional space is needed.)
(a) Region (b) Number of offices in the region (c) Number of employees or agents in region or independent contractors (d) Activities conducted in region (by type) (e.g., fundraising, program services, investments, grants to recipients located in the region) (e) If activity listed in (d) is a program service, describe specific type of
service(s) in region		 (f) Total
expenditures for region/investments
in region
CENTRAL AMERICA AND THE CARIBBEAN (SEE SCHEDULE F, PART V) 0 0 INVESTMENTS N/A 4,000,000
EAST ASIA AND THE PACIFIC (SEE SCHEDULE F, PART V) 0 0 INVESTMENTS N/A 876,000,000
EUROPE (SEE SCHEDULE F, PART V) 0 0 INVESTMENTS N/A 1,439,000,000
MIDDLE EAST AND NORTH AFRICA (SEE SCHEDULE F, PART V) 0 0 INVESTMENTS N/A 11,000,000
NORTH AMERICA (SEE SCHEDULE F, PART V) 0 0 INVESTMENTS N/A 128,000,000
RUSSIA (SEE SCHEDULE F, PART V) 0 0 INVESTMENTS N/A 20,000,000
SOUTH AMERICA (SEE SCHEDULE F, PART V) 0 0 INVESTMENTS N/A 105,000,000
SOUTH ASIA (SEE SCHEDULE F, PART V) 0 0 INVESTMENTS N/A 288,000,000
SUB-SAHARAN AFRICA (SEE SCHEDULE F, PART V) 0 0 INVESTMENTS N/A 49,000,000
           
           
           
           
           
           
           
           
3a Sub-total ..... 0 0 2,871,000,000
b Total from continuation sheets to Part I ... 0 0 49,000,000
c Totals (add lines 3a and 3b) 0 0 2,920,000,000
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2010
Schedule F (Form 990) 2010
Page 2
Part II
Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" to Form 990,
Part IV, line 15, for any recipient who received more than $5,000. Check this box if no one recipient received more than $5,000 ........ MediumBullet
Use Part V if additional space is needed.
1 (a) Name of organization (b) IRS code section
and EIN (if applicable)		 (c) Region (d) Purpose of
grant 		(e) Amount of
cash grant 		(f) Manner of
cash
disbursement 		(g) Amount of
of non-cash
assistance 		(h) Description
of non-cash
assistance 		(i) Method of
valuation
(book, FMV,
appraisal, other)
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
2
Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter .....MediumBullet
 
3
Enter total number of other organizations or entities ........................MediumBullet
 
Schedule F (Form 990) 2010
Schedule F (Form 990) 2010Page 3
Part III
Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 16.
Use Part V if additional space is needed.
(a) Type of grant or assistance (b) Region (c) Number of recipients (d) Amount of
cash grant 		(e) Manner of cash
disbursement 		(f) Amount of
non-cash
assistance 		(g) Description
of non-cash
assistance 		(h) Method of
valuation
(book, FMV,
appraisal, other)
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
Schedule F (Form 990) 2010
Schedule F (Form 990) 2010
Page 4
Part IV
Foreign Forms
1 Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 926 (see instructions for Form 926).................
2 Did the organization have an interest in a foreign trust during the tax year? If " Yes," the organization may be required to file Form 3520 and/or Form 3520-A. (see instructions for Forms 3520 and 3520-A)..........
3 Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 5471, Information Return of U.S. Persons with respect to Certain Foreign Corporations. (see instructions for Form 5471)..............................
4 Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If "Yes," the organization may be required to file Form 8621, Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. (see instructions for Form 8621)
5 Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be required to file Form 8865, Return of U.S. Persons with respect to Certain Foreign Partnerships. (see instructions for Form 8865)....................................
6 Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be required to file Form 5713, International Boycott Report (see instructions for Form 5713)................................................
Schedule F (Form 990) 2010
Schedule F (Form 990) 2010
Page 5
Part V
Supplemental Information
Complete this part to provide the information (see instructions) required in Part I, line 2, and any additional information.
Identifier ReturnReference Explanation
METHOD USED TO ACCCOUNT FOR EXPENDITURES:   SCHEDULE F, PART I, LINE 3: PER IRS SCHEDULE F INSTRUCTIONS, FOR FORM 990 2010, ONLY COLUMNS (A), (D), AND (F) OF SCHEDULE F, PART I, LINE 3 MUST BE COMPLETED WITH RESPECT TO INVESTMENTS; COLUMNS (B), (C), AND (E) NEED NOT BE COMPLETED. DUE TO LIMITATIONS OF THE TAX RETURN SOFTWARE, COLUMNS (B) & (C) CANNOT BE LEFT BLANK OR MARKED N/A AND ARE DEFAULTING TO SHOW ZEROS. HOWEVER, THESE COLUMNS SHOULD BE CONSIDERED 'N/A'.
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
Schedule F (Form 990) 2010
Additional Data


Software ID:  
Software Version:  



SCHEDULE G
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information Regarding
Fundraising or Gaming Activities
Complete if the organization answered "Yes" to Form 990, Part IV, lines 17, 18, or 19,
or if the organization entered more than $15,000 on Form 990-EZ, line 6a.
right arrow Attach to Form 990 or Form 990-EZ. right arrow See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE
PAUAHI BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Part I
Fundraising Activities. Complete if the organization answered "Yes" to Form 990, Part IV, line 17.
1
Indicate whether the organization raised funds through any of the following activities. Check all that apply.
a e
b f
c g
d
2a
Did the organization have a written or oral agreement with any individual (including officers, directors, trustees
or key employees listed in Form 990, Part VII) or entity in connection with professional fundraising services?
b
If “Yes,” list the ten highest paid individuals or entities (fundraisers) pursuant to agreements under which the fundraiser is
to be compensated at least $5,000 by the organization. Form 990-EZ filers are not required to complete this table.
(i) Name and address of individual
or entity (fundraiser) 		(ii) Activity (iii) Did fundraiser have custody or control of contributions? (iv) Gross receipts
from activity 		(v) Amount paid to
(or retained by)
fundraiser listed in
col. (i) 		(vi) Amount paid to
(or retained by)
organization
Yes No
Total .................right arrow      
3
List all states in which the organization is registered or licensed to solicit funds or has been notified it is exempt from registration or licensing.
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50083H
Schedule G (Form 990 or 990-EZ) 2010
Schedule G (Form 990 or 990-EZ) 2010
Page 2
Part II
Fundraising Events. Complete if the organization answered "Yes" to Form 990, Part IV, line 18, or reported more than $15,000 on Form 990-EZ, line 6a. List events with gross receipts greater than $5,000.
(a) Event #1

STUDENT FUNDRAISING
(event type) 		(b) Event #2

 
(event type) 		(c) Other Events

  
(total number) 		(d) Total Events
(Add col. (a) through col. (c))
VerticalRevenue 1 Gross receipts . . . 604,500     604,500
2 Less: Charitable
contributions . . . 		       
3 Gross income (line 1
minus line 2) . . . 		604,500     604,500
VerticalDirectExpenses 4 Cash prizes . . . 1,150     1,150
5 Non-cash prizes . . 3,805     3,805
6 Rent/facility costs . . 13,011     13,011
7 Food and beverages . . 31,769     31,769
8 Entertainment . . .        
9 Other direct expenses . 187,726     187,726
10 Direct expense summary. Add lines 4 through 9 in column (d) ........... right arrow 237,461
11 Net income summary. Combine lines 3 and 10 in column (d)............ right arrow 367,039
Part III
Gaming. Complete if the organization answered "Yes" to Form 990, Part IV, line 19, or reported more than $15,000 on Form 990-EZ, line 6a.
VerticalRevenue (a) Bingo (b) Pull tabs/Instant
bingo/progressive bingo 		(c) Other gaming (d) Total gaming (Add col. (a) through col. (c))
1 Gross revenue . . . .        
VerticalDirectExpenses 2 Cash prizes . . . .        
3 Non-cash prizes . . .        
4 Rent/facility costs . . .        
5 Other direct expenses . .        
6 Volunteer labor . . .
 
 
 
7 Direct expense summary. Add lines 2 through 5 in column (d) ........... right arrow  
8 Net gaming income summary. Combine lines 1 and 7 in column (d) .......... right arrow  
9
Enter the state(s) in which the organization operates gaming activities:
a
Is the organization licensed to operate gaming activities in each of these states? ............
b
If "No," Explain:
 
10a
Were any of the organization's gaming licenses revoked, suspended or terminated during the tax year? .....
b
If "Yes," Explain:
 
11
Does the organization operate gaming activities with nonmembers? .................
12
Is the organization a grantor, beneficiary or trustee of a trust or a member of a partnership or other entity
formed to administer charitable gaming? ...........................
Schedule G (Form 990 or 990-EZ) 2010
Schedule G (Form 990 or 990-EZ) 2010
Page 3
13
Indicate the percentage of gaming activity operated in:
a
The organization's facility ......................
13a
 
b
An outside facility ........................
13b
 
14
Provide the name and address of the person who prepares the organization's gaming/special events books and records:
Name right arrow
Address right arrow
15a
Does the organization have a contract with a third party from whom the organization receives gaming
revenue? ......................................
b
If "Yes," enter the amount of gaming revenue received by the organization right arrow $   and the
amount of gaming revenue retained by the third party right arrow $   .
c
If "Yes," enter name and address:
Name right arrow
Address right arrow
 
 
16
Gaming manager information:
Name right arrow
Gaming manager compensation right arrow $  
Description of services provided right arrow
 
17
Mandatory distributions:
a
Is the organization required under state law to make charitable distributions from the gaming proceeds to
retain the state gaming license? ............................
b
Enter the amount of distributions required under state law distributed to other exempt organizations or spent
in the organization's own exempt activities during the tax year right arrow$  
Part IV
Complete this part to provide additional information for responses to quuestion on Schedule G (see instructions.)
Identifier ReturnReference Explanation
Schedule G (Form 990 or 990-EZ) 2010
Additional Data


Software ID:  
Software Version:  
Schedule I
(Form 990)
Department of the Treasury
Internal Revenue Service
Grants and Other Assistance to Organizations,
Governments and Individuals in the United States
Complete if the organization answered "Yes," to Form 990, Part IV, line 21 or 22.
lBullet Attach to Form 990
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE
PAUAHI BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number
99-0073480
Part I
General Information on Grants and Assistance
1
Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ....................................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Governments and Organizations in the United States. Complete if the organization answered "Yes" to
Form 990, Part IV, line 21 for any recipient that received more than $5,000. Check this box if no one recipient received more than $5,000. Use
Part IV and Schedule I-1 (Form 990) if additional space is needed ......................... lBullet
(a) Name and address of organization
or government		 (b) EIN (c) IRC Code section
if applicable		 (d) Amount of cash grant (e) Amount of non-cash
assistance		 (f) Method of valuation
(book, FMV, appraisal,
other)		 (g) Description of
non-cash assistance		 (h) Purpose of grant
or assistance
(1) HO'OKAKO'O CORPORATIONPO BOX 37755
HONOLULU,HI96837 		76-0717301 501(C)(3) 2,953,050   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(2) AHA PUNANA LEO96 PUUHONU PL
HILO,HI06720 		99-0226111 501(C)(3) 2,510,286   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(3) KANU O KA AINA LEARNING OHANAPO BOX 6511
KAMUELA,HI96743 		99-0352665 501(C)(3) 2,136,650   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(4) HAWAII DEPARTMENT OF EDUCATIONPO BOX 2360
HONOLULU,HI96804 		501(C)(3) 1,601,928   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(5) ALU LIKE INC458 KEAWE ST
HONOLULU,HI96813 		51-0151095 501(C)(3) 1,420,347   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(6) UNIVERSITY OF HAWAII AT MANOA2500 CAMPUS RD
HONOLULU,HI96822 		501(C)(3) 1,289,905   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(7) FRIENDS OF THE LEEWARD92-1480 ALIINUI DR
KAPOLEI,HI96707 		20-0090779 501(C)(3) 1,073,500   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(8) INPEACEINSTITUTE FOR NATIVE PEOPLE1001 KAMOKILA BLVD STE 226
KAPOLEI,HI96707 		99-0315193 501(C)(3) 999,000   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(9) UNIVERSITY OF HAWAII AT HILO200 W KAWILI ST
HILO,HI967204091 		501(C)(3) 831,282   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(10) PARTNERS IN DEVELOPMENT FOUNDATION2040 BACHELOT ST
HONOLULU,HI96817 		94-3271325 501(C)(3) 792,250   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(11) KAKOO KA UMEKE INC400 HUALANI ST STE 194
HILO,HI96720 		43-2029008 501(C)(3) 707,500   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(12) HO'OULU LAHUIPO BOX 2177
PAHOA,HI967782177 		99-0323345 501(C)(3) 645,000   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(13) KA HULI O HALOAPO BOX 1159
KANEOHE,HI96744 		75-3115246 501(C)(3) 637,250   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(14) WAIPA FOUNDATIONPO BOX 1516
HANALEI,HI96714 		99-0313224 501(C)(3) 499,883   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(15) BIG BROTHERS BIG SISTERS418 KUWILI ST SUITE 106
HONOLULU,HI96817 		99-0109970 501(C)(3) 443,986   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(16) KUPU3569 HARDING AVE STE C
HONOLULU,HI96816 		51-0652665 501(C)(3) 383,298   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(17) MAKANA O LILOA FOUNDATION401 WAIAKAMILO RD 1A
HONOLULU,HI96817 		05-0580950 501(C)(3) 368,000   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(18) PAPAHANA KUAOLA41-888 KAKAINA ST
WAIMANALO,HI96795 		20-2565007 501(C)(3) 339,335   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(19) PAEPAE O HEEIAPO BOX 6355
KANEOHE,HI96744 		71-0903791 501(C)(3) 320,000   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(20) SUPPORTING THE LANGUAGE OF KAUAIPO BOX 245
LIHUE,HI96766 		20-4088998 501(C)(3) 318,750   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(21) HAEYC HAWAII CHAPTER HONOLULU1806 KING ST STE 30
HONOLULU,HI96826 		23-7425746 501(C)(3) 290,700   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(22) KANU I KA PONO INCPO BOX 12
ANAHOLA,HI96703 		99-0347359 501(C)(3) 254,500   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(23) KAI LOA INC45-037 KANEOHE BAY DR
KANEOHE,HI96744 		20-1632545 501(C)(3) 241,000   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(24) KULA AUPUNI NIIHAU A KAHELELANI ALOHAPO BOX 610
KEKAHA,HI96752 		99-0349254 501(C)(3) 189,250   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(25) GOOD BEGINNINGS ALLIANCE33 S KING ST STE 200
HONOLULU,HI96813 		94-3257650 501(C)(3) 182,000   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(26) MOLOKAI COMMUNITY SERVICE COUNCILPO BOX 2047
KAUNAKAKAI,HI96748 		23-7426312 501(C)(3) 170,761   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(27) KA'ALA FARM INCPO BOX 630
WAIANAE,HI96792 		99-0242181 501(C)(3) 150,086   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(28) EDITH KANAKA'OLE FOUNDATION1500 KALANIANAOLE AVE
HILO,HI96720 		99-0294540 501(C)(3) 153,000   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(29) MANA MAOLI1100 UNIVERSITY AVE
HONOLULU,HI96826 		31-1783481 501(C)(3) 152,000   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(30) LUNALILO HOME501 KEKAULUOHI ST
HONOLULU,HI96825 		99-0075244 501(C)(3) 105,000   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(31) TEACH FOR AMERICA INC315 WEST 35TH ST
NEW YORK,NY10018 		13-3541913 501(C)(3) 100,000   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(32) DOLLYWOOD FOUNDATION1020 DOLLYWOOD LN
PIGEON FORGE,TN37863 		62-1348105 501(C)(3) 47,634   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(33) QUEEN LILIUOKALANI CHILDREN'S CENTER (LILIUOKALANI TRUST)1300 HALONA ST
HONOLULU,HI96817 		99-0078890 501(C)(3) 26,000   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(34) HAWAII STATE PUBLIC LIBRARY SYSTEM478 S KING ST
HONOLULU,HI96813 		501(C)(3) 25,000   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(35) MA KA HANA KA IKEPO BOX 968
HANA,HI96713 		02-0556883 501(C)(3) 23,750   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(36) HUI MALAMA O KE KAI41-1537 KALANIANAOLE HWY STE 201B
WAIMANALO,HI96795 		99-0356784 501(C)(3) 19,000   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
(37) KUALAO HEEIA ECUMENICAL YOUTH47-200 WAIHEE RD
KANEOHE,HI96744 		99-0118209 501(C)(3) 19,000   N/A N/A SUPPORT HAWAIIAN EDUCATIONAL ACTIVITIES AND PROGRAMS
2
Enter total number of section 501(c)(3) and government organizations ......................... Bullet Image
37
3
Enter total number of other organizations ................................ . Bullet Image
0
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2010

Schedule I (Form 990) 2010
Page 2
Part III
Grants and Other Assistance to Individuals in the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 22.
Use Schedule I-1 (Form 990) if additional space is needed.
(a)Type of grant or assistance (b)Number of
recipients		 (c)Amount of
cash grant		 (d)Amount of
non-cash assistance		 (e)Method of valuation (book,
FMV, appraisal, other)		 (f)Description of non-cash assistance
(1) SCHOLARSHIPS - PRESCHOOL 2330 9,451,054   N/A N/A
(2) SCHOLARSHIPS - KINDERGARTEN 415 1,794,442   N/A N/A
(3) SCHOLARSHIPS - POST-HIGH 2023 10,365,381   N/A N/A
(4) SCHOLARSHIPS - POST-BACCALAUREATE 164 1,951,650   N/A N/A
(5) FINANCIAL AID - KS STUDENTS IN PRESCHOOL TO GRADE 12 4765 16,667,245   N/A N/A





Part IV
Supplemental Information. Complete this part to provide the information required in Part I, line 2, and any other additional information.
Identifier Return Reference Explanation
OTHER INFORMATION: PART IV: GRANTS TO ORGANIZATIONS: THE GRANTS ARE MADE THROUGH A WRITTEN AGREEMENT WITH AT LEAST ANNUAL REPORTING REQUIREMENTS BY THE ORGANIZATION WHO RECEIVES THE GRANT. IN ADDITION, KS CONDUCTS ON-SITE VISITS TO HELP ENSURE THE OBJECTIVES OF THE GRANT ARE ACHIEVED. GRANTS TO INDIVIDUALS: (I) WITH RESPECT TO SCHOLARSHIPS: SCHOLARSHIP AWARDS ARE MADE THROUGH CHECKS OR FUNDS TRANSFER IN THE NAME OF THE INDIVIDUAL AND THE RECIPIENTS' SCHOOLS AND SENT TO THE SCHOOLS. FUNDS NOT USED ARE RETURNED TO KS. THE POST-HIGH SCHOLARSHIP RECIPIENT ARE ALSO ASSIGNED A COUNSELOR WHO MAINTAINS REGULAR CONTACT WITH THE RECIPIENT AND PROVIDES ANY ASSISTANCE AND GUIDANCE TO HELP THEM MATRICULATE. (II) WITH RESPECT TO FINANCIAL AID: FINANCIAL AID FOR TUITION, MEALS AND FEES IS PROVIDED TO STUDENTS WITH A DEMONSTRATED FINANCIAL NEED WHO ACTUALLY ENROLL AND ATTEND KS SCHOOLS.
Schedule I (Form 990) 2010


Additional Data


Software ID:  
Software Version:  


Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet Complete if the organization answered "Yes" to Form 990,
Part IV, question 23.
SchJMediumBullet Attach to Form 990. SchJMediumBullet See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE
PAUAHI BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed in Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement orprovision of all the expenses described above? If "No," complete Part III to explain....
1b
Yes
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
officers, directors, trustees, and the CEO/Executive Director, regarding the items checked in line 1a? ....
2
Yes
 
3
Indicate which, if any, of the following the organization uses to establish the compensation of the
organization's CEO/Executive Director. Check all that apply.
4
During the year, did any person listed in Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? ...............
4a
Yes
 
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? ........
4b
 
No
c
Participate in, or receive payment from, an equity-based compensation arrangement? ........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3) and 501(c)(4) organizations only must complete lines 5-9.
5
For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ...........................
5a
 
No
b
Any related organization? .........................
5b
 
No
If "Yes," to line 5a or 5b, describe in Part III.
6
For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ...........................
6a
 
No
b
Any related organization? .........................
6b
 
No
If "Yes," to line 6a or 6b, describe in Part III.
7
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
 
No
8
Were any amounts reported in Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regs. section 53.4958-4(a)(3)? If "Yes," describe
in Part III .............................
8
 
No
9
If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990
Cat. No. 50053T
Schedule J (Form 990) 2010

Schedule J (Form 990) 2010
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use Schedule J-1 if additional space needed.
For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.

Note. The sum of columns (B)(i)-(iii) must equal the applicable column (D) or column (E) amounts on Form 990, Part VII, line 1a.
(A) Name (B) Breakdown of W-2 and/or 1099-MISC compensation (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation
reported in prior
Form 990 or
Form 990-EZ
(i) Base compensation (ii) Bonus & incentive compensation (iii) Other reportable compensation
(1) DEE JAY MAILER (i)
(ii)		 482,204
0 		50,000
0 		1,502
0 		46,833
0 		13,871
0 		594,410
0 		0
0
(2) KIRK BELSBY (i)
(ii)		 449,685
0 		234,000
0 		719
0 		137,002
0 		16,926
0 		838,332
0 		0
0
(3) MICHAEL LOO - SEE SCH O (i)
(ii)		 135,765
0 		0
0 		181,845
0 		12,794
0 		13,171
0 		343,575
0 		0
0
(4) ANN BOTTICELLI (i)
(ii)		 178,816
0 		0
0 		856
0 		18,238
0 		10,604
0 		208,514
0 		0
0
(5) COLLEEN WONG (i)
(ii)		 249,161
0 		0
0 		1,086
0 		44,817
0 		16,411
0 		311,475
0 		0
0
(6) D ROD CHAMBERLAIN (i)
(ii)		 249,077
0 		0
0 		1,547
0 		33,692
0 		17,461
0 		301,777
0 		0
0
(7) CHRISTOPHER PATING (i)
(ii)		 345,518
0 		72,800
0 		694
0 		23,588
0 		19,681
0 		462,281
0 		0
0
(8) SYLVIA HUSSEY (i)
(ii)		 169,368
0 		0
0 		471
0 		14,818
0 		21,200
0 		205,857
0 		0
0
(9) BENJAMIN SALAZAR - SEE SCH O (i)
(ii)		 150,371
0 		0
0 		6,254
0 		8,927
0 		9,451
0 		175,003
0 		0
0
(10) MICHAEL CHUN (i)
(ii)		 236,484
0 		0
0 		1,980
0 		48,268
0 		3,516
0 		290,248
0 		0
0
(11) STANLEY FORTUNA JR (i)
(ii)		 195,541
0 		0
0 		34,113
0 		31,005
0 		11,060
0 		271,719
0 		0
0
(12) LEE ANN DELIMA (i)
(ii)		 189,708
0 		0
0 		1,332
0 		25,349
0 		14,394
0 		230,783
0 		0
0
(13) DARREL HOKE (i)
(ii)		 196,399
0 		0
0 		2,560
0 		15,701
0 		10,031
0 		224,691
0 		0
0
(14) ELIZABETH HOKADA (i)
(ii)		 308,903
0 		93,780
0 		2,047
0 		73,279
0 		13,846
0 		491,855
0 		0
0
(15) CHRISTIAN MILLAN (i)
(ii)		 179,275
0 		38,500
0 		541
0 		11,844
0 		6,350
0 		236,510
0 		0
0
(16) PAUL QUINTILIANI (i)
(ii)		 275,544
0 		97,883
0 		832
0 		22,578
0 		16,097
0 		412,934
0 		0
0
(17) SUSAN TODANI (i)
(ii)		 190,888
0 		33,432
0 		2,063
0 		24,922
0 		16,998
0 		268,303
0 		0
0
(18) BURTON YUEN (i)
(ii)		 190,472
0 		56,096
0 		498
0 		16,662
0 		11,517
0 		275,245
0 		0
0
(19) MICHAEL DANG (i)
(ii)		 166,002
0 		42,692
0 		61,038
0 		5,670
0 		10,633
0 		286,035
0 		0
0
Schedule J (Form 990) 2010

Schedule J (Form 990) 2010
Page 3
Part III
Supplemental Information
Complete this part to provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 4c, 5a, 5b, 6a, 6b, 7, and 8. Also complete this part for any additional information.
Identifier Return Reference Explanation
  PART I, LINE 1A HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE NON-TAXABLE ON-CAMPUS HOUSING WAS PROVIDED TO KEY EMPLOYEE DR. MICHAEL CHUN. THIS HOUSING WAS PROVIDED AS A CONDITION OF EMPLOYMENT TO SUPERVISE AND INTERACT WITH STUDENTS AND, BECAUSE THE CAMPUS HAS BOARDING STUDENTS, TO BE AVAILABLE AT ALL TIMES TO MANAGE AND RESOLVE ISSUES ARISING FROM BOARDERS. HEADMASTER CHUN IS PROVIDED FREE HOUSING LOCATED WITHIN THE KAPALAMA CAMPUS. A HOUSING ALLOWANCE WAS PROVIDED TO KEY EMPLOYEE DR.STANLEY FORTUNA JR. THE ENTIRE AMOUNT OF SUCH HOUSING ALLOWANCE WAS INCLUDED AS TAXABLE COMPENSATION. PART I, LINE 1A: HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES THE ORGANIZATION PAYS CLUB DUES ON BEHALF OF KS OFFICER KIRK BELSBY FOR BUSINESS USE PURPOSES AND THE EMPLOYEE PAYS FOR PERSONAL USE, IF ANY. THE ENTIRE AMOUNT OF SUCH DUES WAS NONTAXABLE.
  PART I, LINE 4A PART I, LINE 4A: MICHAEL LOO, VICE PRESIDENT OF FINANCE & ADMINISTRATION, RECEIVED A SEVERANCE PAYMENT OF $128,000 IN 2010. MICHAEL DANG, HIGHLY COMPENSATED EMPLOYEE, RECIEVED A SEVERANCE PAYMENT OF $40,719 IN 2010.
Schedule J (Form 990) 2010

Additional Data


Software ID:  
Software Version:  
Schedule L
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Transactions with Interested Persons
MediumBullet Complete if the organization answered
"Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c,
or Form 990-EZ, Part V lines 38a or 40b.
MediumBullet Attach to Form 990 or Form 990-EZ. MediumBulletSee separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE
PAUAHI BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Part I
Excess Benefit Transactions (section 501(c)(3) and section 501 (c)(4) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.
1(a) Name of disqualified person (b) Description of transaction (c) Corrected?
Yes No





2
Enter the amount of tax imposed on the organization managers or disqualified persons during the year under section 4958. ......................... Bullet Image$
 
3
Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ....... Bullet Image$
 

Part II
Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 26, or Form 990-EZ, Part V, line 38a.
(a) Name of interested person and purpose (b) Loan to or from the organization? (c)Original principal amount (d)Balance due (e) In default? (f) Approved by board or committee? (g)Written agreement?
To From Yes No Yes No Yes No
Total ...............Small Bullet $  
Part III
Grants or Assistance Benefitting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.
(a) Name of interested person (b)Relationship between interested person and the organization (c)Amount of grant or type of assistance
For Privacy Act and Paperwork Reduction Act Notice, see the
Instructions for Form 990 or 990-EZ.
Cat. No. 50056A
Schedule L (Form 990 or 990-EZ) 2010
Schedule L (Form 990 or 990-EZ) 2010
Page 2
Part IV
Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of transaction (d) Description of transaction (e) Sharing of organization's revenues?
Yes No
(1) SEE SCHEDULE L PART V
  		        No
(2) SEE SCHEDULE L PART V
  		        No
(3) SEE SCHEDULE L PART V
  		        No
(4) SEE SCHEDULE L PART V
  		        No
(5) SEE SCHEDULE L PART V
  		        No
(6) SEE SCHEDULE L PART V
  		        No
(7) SEE SCHEDULE L PART V
  		        No
(8) SEE SCHEDULE L PART V
  		        No
(9) SEE SCHEDULE L PART V
  		        No
(10) SEE SCHEDULE L PART V
  		        No
(11) FIRST HAWAIIAN BANK
  		CORBETT KALAMA IS AN OFFICER OF THE ENTITY AND TRUSTEE OF THE ORGANIZATION 35,391 LEASE RENT   No
(12) FIRST HAWAIIAN BANK
  		CORBETT KALAMA IS AN OFFICER OF THE ENTITY AND TRUSTEE OF THE ORGANIZATION 35,521 LINE OF CREDIT   No
(13) FIRST HAWAIIAN BANK
  		DEE JAY MAILER IS A DIRECTOR OF THE ENTITY AND OFFICER OF THE ORGANIZATION 35,391 LEASE RENT   No
(14) FIRST HAWAIIAN BANK
  		DEE JAY MAILER IS A DIRECTOR OF THE ENTITY AND OFFICER OF THE ORGANIZATION 35,521 LINE OF CREDIT   No
(15) BANK OF HAWAII
  		MICHAEL CHUN IS A DIRECTOR OF THE ENTITY AND KEY EMPLOYEE OF THE ORG. 479,191 LEASE RENT   No
(16) BANK OF HAWAII
  		MICHAEL CHUN IS A DIRECTOR OF THE ENTITY AND KEY EMPLOYEE OF THE ORG. 47,880 ANALYSIS FEES   No
(17) BANK OF HAWAII
  		MICHAEL CHUN IS A DIRECTOR OF THE ENTITY AND KEY EMPLOYEE OF THE ORG. 10,673 MERCHANT SERVICE FEES   No
Part V
Supplemental Information
Complete this part to provide additional information for responses to questions on Schedule L (see instructions).
Identifier Return Reference Explanation
Schedule L (Form 990 or 990-EZ) 2010

Additional Data


Software ID:  
Software Version:  




SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE
PAUAHI BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Identifier Return Reference Explanation
FORM 990, PART VI, SECTION A, LINE 1   FOR PURPOSES OF DETERMINING INDEPENDENCE WITH RESPECT TO THE FORM 990, EACH MEMBER OF THE GOVERNING BODY MUST SATISFY A THREE-PART TEST. ONE SUCH PART PROVIDES THAT THE MEMBER WAS NOT INVOLVED IN A TRANSACTION WITH THE ORGANIZATION EITHER DIRECTLY OR INDIRECTLY THROUGH AN AFFILIATION WITH ANOTHER ORGANIZATION. ONE MEMBER OF KAMEHAMEHA SCHOOLS' GOVERNING BODY WAS INVOLVED, INDIRECTLY, IN TRANSACTIONS WITH THE ORGANIZATION SOLELY THROUGH HIS AFFILIATION WITH ANOTHER ORGANIZATION AS AN OFFICER OF THAT OTHER ORGANIZATION. CORBETT KALAMA, THROUGH HIS AFFILIATION AS AN OFFICER OF FIRST HAWAIIAN BANK, IS NOT CONSIDERED INDEPENDENT DUE TO LEASE RENT AND CREDIT LINE ARRANGEMENTS BETWEEN KS (IN WHICH CORBETT KALAMA IS A TRUSTEE) AND FIRST HAWAIIAN BANK IN WHICH TRUSTEE KALAMA IS AN OFFICER. TRUSTEE KALAMA NEITHER APPROVED NOR PARTICIPATED IN THE TRANSACTIONS EITHER AS A TRUSTEE OF KS (KS' CONFLICT OF INTEREST POLICY PRECLUDES HIS PARTICIPATION AT KS) OR IN HIS ROLE AS AN OFFICER AT FIRST HAWAIIAN BANK. THE TRUSTEES ARE SELECTED BY THE PROBATE COURT, WHICH APPOINTS MEMBERS OF A SCREENING COMMITTEE UNDER THE COURT'S CONTROL TO RECEIVE APPLICATIONS FOR A TRUSTEE VACANCY, SCREEN SUCH APPLICANTS AND RECOMMEND APPROPRIATE INDIVIDUALS TO THE COURT FOR THE COURT'S FINAL SELECTION.
FORM 990, PART VI, SECTION A, LINE 2   BISHOP HOLDINGS CORP- CORBETT KALAMA, DEE JAY MAILER, J. DOUGLAS ING, MICAH KANE (BUSINESS RELATIONSHIP - BISHOP HOLDINGS IS A SUBSIDIARY OF PARENT ORGANIZATION KAMEHAMEHA SCHOOLS AND THESE INDIVIDUALS SERVE WITH OTHERS ON THE BOARD WHICH CONSIST OF NINE MEMBERS (J.D. ING RESIGNED 4/30/11)) CHARLES REED BISHOP TRUST- CORBETT KALAMA, DIANE PLOTTS, C. NAINOA THOMPSON, J. DOUGLAS ING, JANEEN-ANN OLDS, MICAH KANE (BUSINESS RELATIONSHIP - THESE INDIVIDUALS SERVE ON THE BOARD OF THE CHARLES REED BISHOP TRUST) FIRST HAWAIIAN BANK- CORBETT KALAMA AND DEE JAY MAILER (BUSINESS RELATIONSHIP - CORBETT KALAMA IS AN EXECUTIVE AT FIRST HAWAIIAN BANK AND DEE JAY MAILER IS A MEMBER OF THE BOARD) KAMEHAMEHA INVESTMENT CORP- CORBETT KALAMA, DEE JAY MAILER, J. DOUGLAS ING, MICAH KANE (BUSINESS RELATIONSHIP - KAMEHAMEHA INVESTMENT CORPORATION IS A 2ND TIER SUBIDIARY OF KAMEHAMEHA SCHOOLS AND THESE INDIVIDUALS SERVE WITH OTHERS ON THE BOARD WHICH CONSIST OF NINE MEMBERS (J.D. ING RESIGNED 4/30/11)) KE ALII PAUAHI FOUNDATION- J. DOUGLAS ING, CORBETT KALAMA, JANEEN-ANN OLDS, DIANE PLOTTS, C. NAINOA THOMPSON, MICAH KANE, DEE JAY MAILER, ERIC MARLER, BENJAMIN SALAZAR, MICHAEL LOO (BUSINESS RELATIONSHIP - KE ALI'I PAUAHI FOUNDATION IS A TAX-EXEMPT SUPPORT ORGANIZATION TO KAMEHAMEHA SCHOOLS WITH THE TRUSTEES AND VARIOUS OFFICERS OF KAMEHAMEHA SCHOOLS SERVING AS THE BOARD OF DIRECTORS OF THE FOUNDATION OR ITS OFFICERS) PAUAHI MANAGEMENT CORP- CORBETT KALAMA, DEE JAY MAILER, J. DOUGLAS ING, MICAH KANE (BUSINESS RELATIONSHIP - PAUAHI MANAGEMENT CORPORATION IS A 2ND TIER SUBSIDIARY OF KAMEHAMEHA SCHOOLS AND THESE INDIVIDUALS SERVE WITH OTHERS ON THE BOARD WHICH CONSIST OF NINE MEMBERS (J.D. ING RESIGNED 4/30/11)) FRIENDS OF IOLANI PALACE- MICAH KANE, SYLVIA HUSSEY (BUSINESS RELATIONSHIP - THESE INDIVIDUALS SERVE ON THE BOARD OF THE FRIENDS OF IOLANI) NA KUPAA O KUHIO- MICAH KANE, MICHAEL CHUN (BUSINESS RELATIONSHIP - THESE INDIVIDUALS SERVE ON THE BOARD OF NA KUPAA O KUHIO)
FORM 990, PART VI, SECTION B, LINE 11   THE 5-STEP REVIEW PROCESS PRIOR TO THE RETURN BEING FILED CONSISTS OF THE FOLLOWING: THE RETURN IS FIRST REVIEWED BY THE TAX DEPARTMENT, STAFF FROM THE CONTROLLERS' DIVISION AND STAFF FROM THE ENDOWMENT GROUP. THEN THE RETURN IS REVIEWED BY THE VICE PRESIDENT OF LEGAL, THE VP OF FINANCE AND ADMINISTRATION AND THE VP OF COMMUNICATIONS AND COMMUNITY RELATIONS. THEN THE RETURN IS PROVIDED TO THE CEO FOR REVIEW. THEN A MEETING IS ARRANGED WITH THE CEO, REPRESENTATIVES FROM THE TAX DEPARTMENT AND THE THIRD PARTY TAX RETURN PREPARER TO REVIEW THE RETURN IN MORE DETAIL WITH THE CEO. FINALLY, THE TAX DEPARTMENT, THE TAX RETURN PREPARER, AND THE CEO REVIEW THE RETURN IN DETAIL WITH THE TRUSTEES, WHO GIVE FINAL APPROVAL TO FILE THE RETURN.
  FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE IS ACCOMPLISHED AS FOLLOWS: ACTION REQUIRING APPROVAL BY THE CEO OR TRUSTEES MUST BE SUBMITTED VIA AN INTERNAL FORM, REQUEST FOR ACTION ("RFA"), THAT INCLUDES A SECTION ON CONFLICT OF INTEREST REVIEW, WHICH IS CONDUCTED BY THE LEGAL DEPARTMENT AND ANY CONFLICTS ARE DISCLOSED ON THE RFA. IN ORDER TO DO A CONFLICT CHECK, EACH YEAR THE LEGAL GROUP SENDS OUT A REQUEST TO THE TRUSTEES AND MEMBERS OF EXECUTIVE MANAGEMENT TO COMPLETE AN ANNUAL DISCLOSURE FORM IN WHICH THEY DISCLOSE THEIR FAMILY MEMBERS AND ORGANIZATIONS IN WHICH THEY ARE SHAREHOLDERS (OTHER THAN PUBLICLY TRADED COMPANIES) OR WHERE THEY SERVE AS AN OFFICER OR DIRECTOR. INDIVIDUALS ARE REQUIRED TO REPORT ANY CHANGES TO THEIR ANNUAL DISCLOSURE DURING THE YEAR TO LEGAL. THE LEGAL GROUP THEN MAINTAINS A DATABASE OF THE DISCLOSURES FOR USE IN DETERMINING WHETHER AN INDIVIDUAL HAS A CONFLICT IN A DECISION BEFORE HIM OR HER. FOR DECISIONS DELEGATED TO VICE PRESIDENTS OR STAFF BELOW A VICE PRESIDENT, THE RFA REQUIRES DISCLOSURE OF THIRD PARTIES INVOLVED IN THE MATTER TO BE APPROVED AND THE REQUESTOR MUST THEN CONDUCT A CONFLICT CHECK AND NOTE WHETHER THERE IS ANY CONFLICT. THOSE WHO HAVE A CONFLICT MAY NOT APPROVE THE TRANSACTION.
  FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION IS APPROVED EACH YEAR BY THE BOARD OF TRUSTEES, WHO ARE ALL INDEPENDENT PERSONS. AS PART OF THE APPROVAL PROCESS, THE HUMAN RESOURCE DIVISION OF KS PREPARES AN INTERNAL DOCUMENT (A REQUEST FOR APPROVAL, THE "RFA") FOR THE TRUSTEES APPROVAL. THE RFA INCLUDES A CURRENT COMPENSATION REPORT WITH BENCHMARKS AND COMPARABILITY DATA PREPARED BY AN INDEPENDENT EXPERT, UNLESS THE REQUESTED COMPENSATION IS WITHIN THE COMPARABILITY INFORMATION PROVIDED BY THE EXPERT FROM THE PREVIOUS YEAR. THE RFA ALSO INCLUDES JUSTIFICATION FOR THE RECOMMENDED COMPENSATION. THE TRUSTEES THEN REVIEW THE RFA, DELIBERATE AND MAKE A DECISION. THE MINUTES OF THE TRUSTEES MEETING AND DECISION ARE RETAINED. THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED IN THE SAME MANNER AS ABOVE FOR THE CEO.
  FORM 990, PART VI, SECTION C, LINE 19 FORM 990, PART VI, SECTION C, LINE 19: EACH YEAR THE TRUSTEES OF THE ESTATE OF BERNICE PAUAHI BISHOP DBA KAMEHAMEHA SCHOOLS MUST SUBMIT THEIR ACCOUNT FOR THE YEAR TO THE PROBATE COURT IN HONOLULU, HAWAII FOR APPROVAL. AS PART OF THAT PROCESS, THE GOVERNING DOCUMENT (THE WILL AND CODICILS) AND THE AUDITED FINANCIAL STATEMENTS ARE PUBLICLY AVAILABLE AND CAN ALSO BE PROVIDED UPON REQUEST. THE CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST.
OFFICERS, DIRECTORS, TRUSTEES, KEY EMPLOYEES & HIGHEST COMPENSATED EMPLOYEE SUPPLEMENT TO FORM 990, PART VII , SECTION A , LINE 1A ,COLUMN B THE ACTUAL NUMBER OF HOURS PER WEEK DEVOTED TO POSITION RANGES FROM 40 TO 60 HOURS FOR OFFICERS AND DIRECTORS, AND 20 TO 40 HOURS FOR TRUSTEES.
CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 724,317,376. EQUITY IN EARNINGS OF SUBS -578,403. CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE 30,640,424. TOTAL TO FORM 990, PART XI, LINE 5: 754,379,397.
  FORM 990, PART IV, LINE 12 AND PART XII, LINE 2D THE INDEPENDENTLY AUDITED FINANCIAL STATEMENTS OF KAMEHAMEHA SCHOOLS ARE CONSOLIDATED WITH THOSE OF ITS WHOLLY-OWNED SUBSIDIARIES (E.G. BISHOP HOLDINGS CORPORATION, ETC.) AND THEREFORE NOT ISSUED ON A SEPARATE BASIS.
  FORM 990, PART VII, SECTION A C. NAINOA THOMPSON'S TERM AS TRUSTEE ENDED EFFECTIVE JANUARY 31, 2011. JANEEN-ANN OLDS WAS APPOINTED AS TRUSTEE EFFECTIVE FEBRUARY 1,2011. MICHAEL LOO RESIGNED ON JULY 2, 2010. BENJAMIN SALAZAR BECAME INTERIM VP - FINANCE & FACILITIES ON JULY 5, 2010. ERIC MARLER BECAME THE NEW VP - FINANCE & FACILITIES ON NOVEMBER 15, 2010.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2010

Additional Data


Software ID:  
Software Version:  
SCHEDULE R
(Form 990)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
MediumBulletComplete if the organization answered "Yes" to Form 990, Part IV, line 33, 34, 35, 36, or 37.
MediumBulletAttach to Form 990. MediumBullet See separate instructions.

OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE
PAUAHI BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Part I
Identification of Disregarded Entities (Complete if the organization answered "Yes" on Form 990, Part IV, line 33.)
(a)
Name, address, and EIN of disregarded entity


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Total income
(e)
End-of-year assets


 		(f)
Direct controlling
entity







(1) P&C INSURANCE COMPANY
2001 KALAKAUA AVENUE SUITE A500
HONOLULU,HI96815
99-0315757 		INSURANCE HI 1,855,980 20,841,869 N/A










Part II
Identification of Related Tax-Exempt Organizations (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.)
(a)
Name, address, and EIN of related organization


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Exempt Code section
(e)
Public charity status
(if section 501(c)(3))

 		(f)
Direct controlling
entity

 		(g)
Section 512(b)(13) controlled organization
Yes No
(1) KE ALI'I PAUAHI FOUNDATION

PO BOX 3466

HONOLULU,HI96801
94-3263044 		FUNDRAISING, SCHOLARSHIP & DEVELOPMENT HI 501(C)(3) II, TYPE I KAMEHAMEHA SCHOOLS
 
Yes
 
(2) CHARLES R BISHOP TRUST

PO BOX 3466

HONOLULU,HI96801
99-6005262 		SUPPORT OTHER CHARITABLE ORGANIZATIONS HI 501(C)(3) II, TYPE III-O N/A
 
No










For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 2
Part III
Identification of Related Organizations Taxable as a Partnership (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a partnership during the tax year.)
(a)
Name, address, and EIN of
related organization



 		(b)
Primary activity




 		(c)
Legal
domicile
(state or foreign
country)


 		(d)
Direct controlling
entity



 		(e)
Predominant income(related, unrelated, excluded from tax under sections 512-514)

(f)
Share of total income




 		(g)
Share of end-of-year
assets



 		(h)
Disproprtionate allocations?




 		(i)
Code V—UBI
amount in box 20 of
Schedule K-1
(Form 1065)
 		(j)
General or
managing
partner?



 		(k)
Percentage
ownership
Yes No Yes No
(1) SFG LLC

PO BOX 3466
HONOLULU,HI96801
99-0324938 		INTERNATIONAL BUSINESS INVESTMENT DE N/A
 INVESTMENT 166 5,445,877   No     No 90.480 %
(2) SNIP

PO BOX 3466
HONOLULU,HI96801
33-0324029 		REAL ESTATE ACQUISITION & LEASING CA N/A
 INVESTMENT 491,796 41,366,972   No     No 91.430 %
(3) BFL

PO BOX 3466
HONOLULU,HI96801
99-0073480 		HOLDING COMPANY CJ N/A
 INVESTMENT -11,068 2,695,005   No     No 99.990 %
(4) ES LP

PO BOX 3466
HONOLULU,HI96801
56-1574914 		REAL ESTATE ACQ, DEVELOPMENT & SALES NC MESI LP
  		INVESTMENT       No     No 89.070 %
(5) ESOT LP

PO BOX 3466
HONOLULU,HI96801
56-1574916 		REAL ESTATE ACQ, DEVELOPMENT & SALES NC MESI LP
  		INVESTMENT       No     No 89.070 %
(6) MESI LP

PO BOX 3466
HONOLULU,HI96801
56-1574915 		REAL ESTATE INVESTMENT NC N/A
 INVESTMENT -104,675 3,889,679   No     No 89.970 %
(7) WRA LP

PO BOX 3466
HONOLULU,HI96801
65-0821359 		FACILITIES MANAGEMENT FL PAUAHI MANAGEMENT CORPORATION
  		UNRELATED -11,869 134,015   No     No 69.180 %
Part IV
Identification of Related Organizations Taxable as a Corporation or Trust (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.)
(a)
Name, address, and EIN of related organization



 		(b)
Primary activity



 		(c)
Legal domicile
(state or
foreign
country)
 		(d)
Direct controlling
entity


 		(e)
Type of entity
(C corp, S corp,
or trust)

 		(f)
Share of total income



 		(g)
Share of
end-of-year
assets

 		(h)
Percentage
ownership
(1) BISHOP HOLDINGS CORPORATION
78-6740 MAKOLEA STREET
KAILUAKONA,HI96740
99-0335777 		HOLDING COMPANY HI N/A
 C -4,377,704 59,336,398 100.000 %
(2) KONIA INC
78-6740 MAKOLEA STREET
KAILUAKONA,HI96740
99-0309615 		INVESTMENTS DE N/A
 C -1,873 124,423 100.000 %
(3) PAUAHI MANAGEMENT CORPORATION
2001 KALAKAUA AVENUE SUITE A500
HONOLULU,HI96815
99-0335778 		PROPERTY MANAGEMENT HI BISHOP HOLDINGS CORPORATION
  		C      
(4) KAMEHAMEHA INVESTMENT CORPORATION
78-6831 ALII DRIVE SUITE 235
KAILUAKONA,HI96740
99-0115292 		REAL ESTATE DEVELOPMENT & INVESTMENT HI BISHOP HOLDINGS CORPORATION
  		C      
(5) KBH INC
2001 KALAKAUA AVENUE SUITE A500
HONOLULU,HI96815
99-0334862 		REAL ESTATE ASSET MANAGEMENT HI PAUAHI MANAGEMENT CORPORATION
  		C      
(6) PARADISE PETROLEUM INC
2001 KALAKAUA AVENUE SUITE A500
HONOLULU,HI96815
75-2247625 		SALES & SVC PETROLEUM PRODUCTS HI PAUAHI MANAGEMENT CORPORATION
  		C      
(7) KEAUHOU COMMUNITY SERVICE INC
PO BOX 5685
KAILUAKONA,HI96745
99-0291186 		WASTEWATER TREATMENT HI KAMEHAMEHA INVESTMENT CORPORATION
  		C      
Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 3
Part V
Transactions With Related Organizations (Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35, 35A, or 36.)
Note. Complete line 1 if any entity is listed in Parts II, III or IV.
Yes
No
1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?
a Receipt of (i) interest (ii) annuities (iii) royalties (iv) rent from a controlled entity . . . . . . . . . . . . . . . . . . . . . . .
1a
Yes
 
b Gift, grant, or capital contribution to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1b
Yes
 
c Gift, grant, or capital contribution from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1c
 
No
d Loans or loan guarantees to or for other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1d
Yes
 
e Loans or loan guarantees by other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1e
 
No
f Sale of assets to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1f
 
No
g Purchase of assets from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1g
 
No
h Exchange of assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1h
 
No
i Lease of facilities, equipment, or other assets to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1i
 
No
j Lease of facilities, equipment, or other assets from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . .
1j
 
No
k Performance of services or membership or fundraising solicitations for other organization(s) . . . . . . . . . . . . . . . . . . . . . .
1k
Yes
 
l Performance of services or membership or fundraising solicitations by other organization(s) . . . . . . . . . . . . . . . . . . . . . .
1l
Yes
 
m Sharing of facilities, equipment, mailing lists, or other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1m
Yes
 
n Sharing of paid employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1n
 
No
o Reimbursement paid to other organization for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1o
Yes
 
p Reimbursement paid by other organization for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1p
Yes
 
q Other transfer of cash or property to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1q
 
No
r Other transfer of cash or property from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1r
Yes
 
2
If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.
(a)
Name of other organization 		(b)
Transaction
type(a-r) 		(c)
Amount involved 		(d)
Method of determining amount involved
(1) PAUAHI MANAGEMENT CORPORATION

 A 449,028 BOOK VALUE
(2) KAMEHAMEHA INVESTMENT CORPORATION

 A 9,758 BOOK VALUE
(3) SFG LLC

 D 202,497 BOOK VALUE
(4) KAMEHAMEHA INVESTMENT CORPORATION

 L 188,628 COST
(5) KEAUHOU COMMUNITY SERVICE INC

 L 171,516 COST
(6) KBH

 O 187,632 COST
(7) KAMEHAMEHA INVESTMENT CORPORATION

 P 52,561 COST
(8) KBH

 P 129,657 COST
(9) SNIP

 R 2,453,184 BOOK VALUE
(10) MESI LP

 R 148,731 BOOK VALUE
Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 4
Part VI
Unrelated Organizations Taxable as a Partnership (Complete if the organization answered "Yes" on Form 990, Part IV, line 37.)
Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.
(a)
Name, address, and EIN of entity 		(b)
Primary activity 		(c)
Legal domicile
(state or foreign
country) 		(d)
Are all
partners
section
501(c)(3)
organizations? 		(e)
Share of
end-of-year
assets 		(f)
Disproprtionate allocations? 		(g)
Code V—UBI
amount in box
20 of Schedule K-1
(Form 1065) 		(h)
General or
managing
partner?
Yes No Yes No Yes No






























Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 5
Part VII
Supplemental Information
Complete this part to provide additional information for responses to questions on Schedule R (see instructions).
Identifier Return Reference Explanation
Additional Data


Software ID:  
Software Version: