Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018
Name of foundation
CENTRAL PACIFIC BANK FOUNDATION
 
% SCOTT HINO
Number and street (or P.O. box number if mail is not delivered to street address)220 SOUTH KING STREET
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
HONOLULU, HI96813
A Employer identification number

39-2068708
B Telephone number (see instructions)

(808) 544-3673
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$12,622,240J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 61,433
2 Check bullet.............
3 Interest on savings and temporary cash investments 312,982 312,982  
4 Dividends and interest from securities...      
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 423,223
b Gross sales price for all assets on line 6a 1,290,903
7 Capital gain net income (from Part IV, line 2)... 423,223
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 797,638 736,205  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 10,889 5,445 0 5,444
c Other professional fees (attach schedule).... Click to see attachment 152,964 91,964   61,000
17 Interest...............        
18 Taxes (attach schedule) (see instructions)...        
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 650 0 0 650
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 164,503 97,409 0 67,094
25 Contributions, gifts, grants paid....... 798,129 798,129
26 Total expenses and disbursements. Add lines 24 and 25 962,632 97,409 0 865,223
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -164,994
b Net investment income (if negative, enter -0-) 638,796
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 2,640 2,154 2,154
2 Savings and temporary cash investments......... 423,771 587,626 587,626
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 50,281 Click to see attachment25,000 25,416
b Investments—corporate stock (attach schedule)....... 5,237,891 Click to see attachment4,828,031 6,711,971
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 5,305,792 Click to see attachment5,412,570 5,295,073
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 11,020,375 10,855,381 12,622,240
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 11,020,375 10,855,381
30 Total net assets or fund balances (see instructions)..... 11,020,375 10,855,381
31 Total liabilities and net assets/fund balances (see instructions). 11,020,375 10,855,381
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year’s return) ...............
1
11,020,375
2
Enter amount from Part I, line 27a .....................
2
-164,994
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
10,855,381
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
10,855,381
Form 990-PF (2018)
Form 990-PF (2018)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES P    
b
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 1,290,903   867,680 423,223
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       423,223
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 423,223
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2017 746,080 13,631,159 0.054733
2016 644,665 12,912,850 0.049924
2015 511,347 11,874,987 0.043061
2014 531,169 11,311,334 0.046959
2013 395,235 10,141,855 0.038971
2
Total of line 1, column (d) .....................
2
0.233648
3
Average distribution ratio for the 5-year base period—divide the total on line 2 by 5.0, or by the number of years the foundation has been in existence if less than 5 years ......
3
0.04673
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
13,522,178
5
Multiply line 4 by line 3......................
5
631,891
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
6,388
7
Add lines 5 and 6........................
7
638,279
8
Enter qualifying distributions from Part XII, line 4,.............
8
865,223
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.
Form 990-PF (2018)
Form 990-PF (2018)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket includes lines 1a and 1b
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Domestic foundations that meet the section 4940(e) requirements in Part V, check 1 6,388
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 6,388
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 6,388
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 11,356
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 11,356
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 4,968
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet4,968 RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? Click to see attachment....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions
for definition).................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changesClick to see attachment....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.Click to see attachment
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletHI
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2018 or the taxable year beginning in 2018? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletSCOTT HINO Telephone no.bullet (808) 544-3597

    Located atbullet220 SOUTH KING STREET 3RD FLOORHONOLULUHI ZIP+4bullet96813
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2018, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2018?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2018, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2018?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2018 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2018.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2018?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    DENIS ISONO CHAIRMAN AND PRESIDENT
    8.0     		0 0 0
    220 SOUTH KING STREET
    HONOLULU,HI96813
    KYLE SAKAMOTO VICE PRESIDENT & TREASURER
    8.0     		0 0 0
    220 SOUTH KING STREET
    HONOLULU,HI96813
    WAYNE KIRIHARA VICE PRESIDENT & SECRETARY
    8.0     		0 0 0
    220 SOUTH KING STREET
    HONOLULU,HI96813
    CATHERINE NGO VICE PRESIDENT
    8.0     		0 0 0
    220 SOUTH KING STREET
    HONOLULU,HI96813
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
     
    Total number of other employees paid over $50,000...................bullet  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    CENTRAL PACIFIC BANK PROFESSIONAL SERVICE 152,478
    220 South King St 3rd Floor
    HONOLULU,HI96813
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    13,178,170
    b
    Average of monthly cash balances.......................
    1b
    549,930
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    13,728,100
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    13,728,100
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    205,922
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    13,522,178
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    676,109
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    676,109
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    6,388
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    6,388
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    669,721
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    669,721
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    669,721
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    865,223
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    865,223
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
    6,388
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    858,835
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2017     		(c)
    2017     		(d)
    2018
    1 Distributable amount for 2018 from Part XI, line 7 669,721
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 13,038
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2018:
    a From 2013......  
    b From 2014......  
    c From 2015......  
    d From 2016......  
    e From 2017...... 0
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 865,223
    a Applied to 2017, but not more than line 2a 13,038
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2018 distributable amount..... 669,721
    e Remaining amount distributed out of corpus 182,464
    5 Excess distributions carryover applied to 2018.    
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 182,464
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		182,464
    10 Analysis of line 9:
    a Excess from 2014....  
    b Excess from 2015....  
    c Excess from 2016....  
    d Excess from 2017.... 0
    e Excess from 2018.... 182,464
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2018, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2018 (b) 2017 (c) 2016 (d) 2015
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    NONE
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    NONE
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    CENTRAL PACIFIC BANK
    220 SOUTH KING STREET
    HONOLULU,HI96813
    (808) 544-0500
    bThe form in which applications should be submitted and information and materials they should include:
    THE APPLICATION FORM IS SUBMITTED AT WWW.CENTRALPACIFICBANK.COM PLEASE SEE COPY OF GRANT APPLICATION AT: HTTPS://WWW.CENTRALPACIFICBANK.COM/ABOUT-CPB/WORKS-FOR-YOU/SERVING-OUR -COMMUNITY/CPB-FOUNDATION.ASPX
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    APPLICATIONS ARE ONLY ACCEPTED ONLINE AND MUST INCLUDE THE FOLLOWING ATTACHMENTS: -ORGANIZATION'S INCOME STATEMENT (OR PROFIT/LOSS STATEMENT) FOR THE MOST RECENT COMPLETED FISCAL YEAR. -AUDITED FINANCIAL STATEMENTS ARE PREFERRED BUT NOT REQUIRED. -LOCAL UNITS OF NATIONAL ORGANIZATIONS MUST SUBMIT LOCAL UNIT FINANCIAL INFORMATION. *COMPLETE THE ONLINE APPLICATION AND ATTACH THE REQUIRED DOCUMENTS. ADDITIONAL DOCUMENTS THAT ARE NOT REQUIRED ON THE APPLICATION WILL NOT BE CONSIDERED. TO BE ELIGIBLE, ORGANIZATIONS MUST BE: - A REGISTERED 501(C)(3), - IN EXISTENCE AT LEAST TWO YEARS, AND - IN STABLE FINANCIAL CONDITION. FOR MORE INFORMATION PLEASE VISIT OUR WEBSITE AT HTTPS://WWW.CENTRALPACIFICBANK.COM/ABOUT-CPB/WORKS-FOR-YOU/SERVING-OUR -COMMUNITY/CPB-FOUNDATION
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    442ND LEGACY CENTER
    933 WILIWILI STREET
    HONOLULU,HI96826     		NO RELATIONSHIP PC COMMEMORATES THE FORMATION OF THE 442ND REGIMENTAL COMBAT TEAM IN 1943 2,500
    ALOHA UNITED WAY
    200 NORTH VINEYARD BLVD STE 700
    HONOLULU,HI96817     		NO RELATIONSHIP PC REMODEL ALOHA UNITED WAY OFFICES 10,000
    ALOHA UNITED WAY & ALEXIS DE TOCQUEVILLE
    200 NORTH VINEYARD BLVD STE 700
    HONOLULU,HI96817     		NO RELATIONSHIP PC MATCHING FUND FOR UNITED WAY 65,217
    AMERICAN DIABETES ASSOCIATION
    900 FORT STREET MALL SUITE 940
    HONOLULU,HI96813     		NO RELATIONSHIP PC HAWAII'S SAFE AT SCHOOL PROGRAM PROJECT 7,500
    AMERICAN RED CROSS
    4155 DIAMOND HEAD RD
    HONOLULU,HI96816     		NO RELATIONSHIP PC HAWAII DISASTER RELIEF FOR KAUAI 20,000
    BOY SCOUTS OF AMERICA ALOHA COUNCIL
    42 PUIWA ROAD
    HONOLULU,HI96817     		NO RELATIONSHIP PC ROOTS AND WINGS CAPITAL CAMPAIGN 20,000
    BOYS AND GIRLS CLUB OF HAWAII KAUAI BRANCH
    345 QUEEN STREET SUITE 900
    HONOLULU,HI96813     		NO RELATIONSHIP PC IN SUPPORT OF NA KOA O KUKUI PROJECT 20,000
    BOYS TO MEN MENTORING NETWORK OF HAWAII INC
    PO BOX 44316
    KAMUELA,HI96743     		NO RELATIONSHIP PC BOYS TO MEN MENTORING PROGRAM - OAHU EXPANSION 10,000
    CATHOLIC CHARITIES
    1822 KEEAUMOKU ST
    HONOLULU,HI96822     		NO RELATIONSHIP PC CATHOLIC CHARITIES HAWAI`I LAULIMA HOUSE PROJECT 12,500
    DIAMOND HEAD THEATRE
    520 MAKAPUU AVE
    HONOLULU,HI96816     		NO RELATIONSHIP PC IN SUPPORT OF BUILDING NEW THEATRE 25,000
    DOMESTIC VIOLENCE ACTION CENTER
    PO BOX 3198
    HONOLULU,HI96801     		NO RELATIONSHIP PC IN SUPPORT OF OFFICE EXPANSION 20,000
    EASTERSEALS HAWAII
    710 GREEN STREET
    HONOLULU,HI96813     		NO RELATIONSHIP PC COMMUNITY LEARNING SERVICES FOR ADULTS WITH DISABILITIES 10,000
    FAMILY PROMISE OF HAWAII
    245 N KUKUI ST 101
    HONOLULU,HI96817     		NO RELATIONSHIP PC TUTORING AND FINANCIAL LITERACY FOR KEIKI EXPERIENCING HOMELESSNESS 10,000
    GIRL SCOUTS OF HAWAI'I
    410 ATKINSON DRIVE SUITE 2E1 BOX
    HONOLULU,HI96814     		NO RELATIONSHIP PC IN SUPPORT OF PAVING THE WAY TO GIRL SCOUTS OF HAWAI'I'S CAMP 15,000
    GOODWILL INDUSTRIES OF HAWAII INC
    2610 KILIHAU STREET
    HONOLULU,HI96819     		NO RELATIONSHIP PC GOODWILL HONOLULU CAREER AND LEARNING CENTER RENOVATION 12,500
    GUIDE DOGS OF HAWAII
    1600 KAPIOLANI BLVD 214
    HONOLULU,HI96814     		NO RELATIONSHIP PC ENCHANTED HILLS CAMP FOR THE BLIND, LIFE SKILLS LEARNING EXPERIENCE 5,500
    HALE KIPA
    615 PIIKOI STREET SUITE 203
    HONOLULU,HI96814     		NO RELATIONSHIP PC A NEW HOME FOR HALE KIPA 25,000
    HAWAII ALLIANCE FOR ARTS EDUCATION
    PO BOX 3948
    HONOLULU,HI96812     		NO RELATIONSHIP PC IN SUPPORT OF TURNAROUND ARTS HAWAII 15,000
    HAWAII ARCHITECTURAL FOUNDATION
    828 FORT STREET MALL 100
    HONOLULU,HI96813     		NO RELATIONSHIP PC KOICHI IIDA RECORDS RESTORATION AND ARCHIVING PROJECT 16,000
    HAWAII COMMUNITY FOUNDATION
    827 FORT STREET MALL
    HONOLULU,HI96813     		NO RELATIONSHIP PC CPB WORKS FOR YOU SCHOLARSHIP 36,000
    HAWAII COMMUNITY FOUNDATION
    827 FORT STREET MALL
    HONOLULU,HI96813     		NO RELATIONSHIP PC CENTENNIAL CAMPAIGN 12,500
    HAWAII COUNTY ECONOMIC OPPORTUNITY COUNCIL
    47 RAINBOW DRIVE
    HILO,HI967202013     		NO RELATIONSHIP PC SENIOR FARMERS MARKET NUTRITION PROGRAM 10,000
    HAWAII HOMEOWNERSHIP CENTER
    1259 AALA STREET 201
    HONOLULU,HI96817     		NO RELATIONSHIP PC INCREASING HOMEOWNERSHIP IN HAWAII 10,000
    HAWAII ISLAND UNITED WAY
    PO BOX 745
    HILO,HI967210745     		NO RELATIONSHIP PC MATCHING FUND FOR UNITED WAY 321
    HAWAII LIONS FOUNDATION
    PO BOX 834
    HONOLULU,HI96808     		NO RELATIONSHIP PC HAWAII LIONS STATEWIDE CHILD HEARING SCREENING PROGRAM 5,000
    HAWAII STATE SCIENCE OLYMPIAD
    4725 BOUGAINVILLE DRIVE SUITE 203
    HONOLULU,HI96818     		NO RELATIONSHIP PC HAWAII STATE SCIENCE OLYMPIAD 2018-2019 TOURNAMENT SEASON 4,000
    HAWAII SYMPHONY ORCHESTRA
    520 MAKAPUU AVE
    HONOLULU,HI96816     		NO RELATIONSHIP PC EDUCATION AND COMMUNITY OUTREACH PROGRAM 10,000
    HAWAII YOUTH OPERA CHORUS
    957 PUNCHBOWL STREET
    HONOLULU,HI96813     		NO RELATIONSHIP PC FINANCIAL ASSISTANCE FOR YOUTH MUSIC EDUCATION ON OAHU 5,000
    HONOLULU COMMUNITY ACTION PROGRAM
    1132 BISHOP STREET SUITE 100
    HONOLULU,HI96813     		NO RELATIONSHIP PC NA LIMA HANA EMPLOYMENT CORE SERVICES (ECS) PROGRAM 10,000
    HONOLULU HABITAT FOR HUMANITY
    922 AUSTIN LANE C-1
    HONOLULU,HI96817     		NO RELATIONSHIP PC HOME BUILDS FOR FAMILIES IN NEED 10,000
    HONOLULU JAPANESE CHAMBER OF COMMERCE
    2454 SOUTH BERETANIA STREET SUITE
    HONOLULU,HI96826     		NO RELATIONSHIP PC HONOLULU JAPANESE CHAMBER OF COMMERCE CHARITABLE CORPORATION SCHOLARSHIP FUND 20,000
    HOOLA NA PUA
    PO BOX 22551
    HONOLULU,HI96823     		NO RELATIONSHIP PC MATCHING FUND FOR WALKS FOR YOU 23,143
    HUGS
    3636 KILAUEA AVE
    HONOLULU,HI96816     		NO RELATIONSHIP PC MATCHING FUND FOR WALKS FOR YOU 29,770
    HUI MALAMA O KE KAI FOUNDATION
    41-477 HIHIMANU STREET
    WAIMANALO,HI96795     		NO RELATIONSHIP PC Hui Malama O Ke Kai (HMK) After-school Youth Development and Family Strengthening Programs 15,000
    KAUAI FOOD BANK INC
    3285 WAAPA RD STE A
    LIHUE,HI96766     		NO RELATIONSHIP PC BACKPACK PROGRAM 10,000
    KAUAI NORTH SHORE FOOD PANTRY
    PO BOX 1172
    KILAUEA,HI96754     		NO RELATIONSHIP PC THE KAUAI NORTH SHORE FOOD PANTRY EQUIPMENT UPGRADE 10,000
    KAUAI UNITED WAY
    PO BOX 1087
    LIHUE,HI96766     		NO RELATIONSHIP PC MATCHING FUND FOR UNITED WAY 92
    LEEWARD COMMUNITY CHURCH
    1860 KOMO MAI DRIVE
    PEARL CITY,HI96782     		NO RELATIONSHIP PC IN SUPPORT OF LEEWARD COMMUNITY CHURCH COMMUNITY OUTREACH CENTER 15,000
    MANOA HERITAGE CENTER
    2856 OAHU AVENUE
    HONOLULU,HI96822     		NO RELATIONSHIP PC CONNECTING EDUCATORS AND STUDENTS THROUGH NATIVE HAWAIIAN CULTURAL RESOURCES 10,000
    MAUI UNITED WAY
    270 HOOKAHI ST SUITE 301
    WAILUKU,HI96793     		NO RELATIONSHIP PC MATCHING FUND FOR UNITED WAY 1,324
    MAUI YOUTH AND FAMILY SERVICES INC
    200 IKE DRIVE
    MAKAWAO,HI96768     		NO RELATIONSHIP PC CONSTRUCTION OF A NEW COORDINATED PROGRAMS FACILITY 20,000
    MILILANI PRESBYTERIAN PRESCHOOL
    95-410 KUAHELANI AVENUE
    MILILANI,HI96789     		NO RELATIONSHIP PC SECURITY AND OUTDOOR LEARNING AREA UPGRADES 5,000
    NISEI VETERANS MEMORIAL CENTER
    PO BOX 216
    KAHULUI,HI96733     		NO RELATIONSHIP PC OUR NOBLER SELVES - FINDING THE HERO IN YOURSELF 20,000
    OAHU SPCA
    823 OLICE AVE
    WAHIAWA,HI96786     		NO RELATIONSHIP PC MATCHING FUND FOR WALKS FOR YOU 24,970
    OHANA ARTS
    PO BOX 894755
    MILILANI,HI96789     		NO RELATIONSHIP PC OHANA ARTS SUMMER FESTIVAL AND SCHOOL 5,000
    PACIFIC AVIATION MUSEUM PEARL HARBOR
    319 LEXINGTON BLVD
    HONOLULU,HI96818     		NO RELATIONSHIP PC PAMPH/USNA STEM TRAINING FOR HAWAII EDUCATORS 5,000
    PATCH
    560 NORTH NIMITZ HIGHWAY SUITE 218
    HONOLULU,HI96817     		NO RELATIONSHIP PC HOMELESS OUTREACH PROGRAM 25,000
    POLYNESIAN VOYAGING SOCIETY
    10 SAND ISLAND PARKWAY
    HONOLULU,HI96819     		NO RELATIONSHIP PC WORLDWIDE VOYAGE (WWV) 10,000
    PROJECT VISION HAWAII
    PO BOX 23212
    HONOLULU,HI96823     		NO RELATIONSHIP PC HIEHIE HOSPITALITY PROJECT 10,000
    RE-USE HAWAII
    200 KEAWE STREET
    HONOLULU,HI96813     		NO RELATIONSHIP PC COMMUNITY ENGAGEMENT INITIATIVE 10,000
    SPECIAL OLYMPICS HAWAII
    1833 KALAKAUA AVE 500
    HONOLULU,HI96815     		NO RELATIONSHIP PC MATCHING FUND FOR WALKS FOR YOU 23,765
    THE SALVATION ARMY
    2950 MANOA ROAD
    HONOLULU,HI96822     		NO RELATIONSHIP PC HAWAII ISLAND VOLCANO ERUPTION 20,000
    THE SALVATION ARMY
    2950 MANOA ROAD
    HONOLULU,HI96822     		NO RELATIONSHIP PC SALVATION ARMY MEALS (S.A.M.) BACKPACK PROGRAM 10,000
    TOUCH A HEART INC
    98-820 MOANALUA ROAD UNIT 15-1 PM
    AIEA,HI96701     		NO RELATIONSHIP PC HO'OLOLI KEIKI PROGRAM 10,000
    UH FOUNDATION ON BEHALF OF HAWAII COMMUNITY COLLEG
    2444 DOLE STREET BACHMAN HALL 105
    HONOLULU,HI96822     		NO RELATIONSHIP PC HAWAII COMMUNITY COLLEGE EMERGENCY STUDENT AID FUND 15,000
    UH FOUNDATION ON BEHALF OF UH MANOA COLLEGE
    2444 DOLE STREET BACHMAN HALL 105
    HONOLULU,HI96822     		NO RELATIONSHIP PC CENTRAL PACIFIC BANK (CPB) RISING SCHOLARS FUND 10,527
    UNIVERSITY OF HAWAII FOUNDATION
    2444 DOLE STREET BACHMAN HALL 105
    HONOLULU,HI96822     		NO RELATIONSHIP PC SENATOR DANIEL K. AKAKA REGENTS SCHOLARSHIP ENDOWMENT 5,000
    Total .................................bullet 3a 798,129
    bApproved for future payment
    BOY SCOUTS OF AMERICA ALOHA COUNCIL
    42 PUIWA ROAD
    HONOLULU,HI96817     		NO RELATIONSHIP PC ROOTS AND WINGS CAPITAL CAMPAIGN 30,000
    MAUI YOUTH AND FAMILY SERVICES INC
    200 IKE DRIVE
    MAKAWAO,HI96768     		NO RELATIONSHIP PC CONSTRUCTION OF A NEW COORDINATED PROGRAMS FACILITY 30,000
    Total .................................bullet 3b 60,000
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 312,982  
    4 Dividends and interest from securities....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 423,223  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   736,205  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    736,205
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    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 taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2018)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2018 AccountingFeesSchedule
    Name:
    CENTRAL PACIFIC BANK FOUNDATION
    EIN:
    39-2068708
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    AUDIT FEES 10,889 5,445   5,444

    TY 2018 ContractorCompensationExpln
    Name:
    CENTRAL PACIFIC BANK FOUNDATION
    EIN:
    39-2068708
    Contractor Explanation
    CENTRAL PACIFIC BANK INVESTMENT ADVISORY AND PROFESSIONAL SERVICES

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2018 DepreciationSchedule
    Name:
    CENTRAL PACIFIC BANK FOUNDATION
    EIN:
    39-2068708
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    CENTRAL PACIFIC BANK FOUNDATION
    EIN:
    39-2068708
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ISHARES RUSSELL 2000 INDEX 699,562 887,489
    ISHARES MSCI EAFE INDEX 1,208,116 1,314,556
    SPDR S&P 500 2,814,573 4,366,602
    CT PAC FINANCIAL CORP STOCK 105,780 143,324

    TY 2018 InvestmentsGovtObligationsSch
    Name:
    CENTRAL PACIFIC BANK FOUNDATION
    EIN:
    39-2068708
    US Government Securities - End of Year Book Value:

    25,000
    US Government Securities - End of Year Fair Market Value:

    25,416
    State & Local Government Securities - End of Year Book Value:


     
    State & Local Government Securities - End of Year Fair Market Value:


     


    TY 2018 InvestmentsOtherSchedule2
    Name:
    CENTRAL PACIFIC BANK FOUNDATION
    EIN:
    39-2068708
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ISHARES US BOND MARKET AT COST 5,412,570 5,295,073

    TY 2018 OtherExpensesSchedule
    Name:
    CENTRAL PACIFIC BANK FOUNDATION
    EIN:
    39-2068708
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INSURANCE 650 0 0 650


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    CENTRAL PACIFIC BANK FOUNDATION
    EIN:
    39-2068708
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT ADVISORY FEES 91,478 91,478    
    OTHER PROFESSIONAL SERVICES 61,000     61,000
    INVESTMENT SALES FEES 486 486