Form990-PF
Click to see attachment

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
LILIUOKALANI TRUST
 
Number and street (or P.O. box number if mail is not delivered to street address)1100 ALAKEA STREET NO 1100
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
HONOLULU, HI96813
A Employer identification number

99-0078890
B Telephone number (see instructions)

(808) 203-6150
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$853,109,176J 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) 40,806
2 Check bullet.............
3 Interest on savings and temporary cash investments 698,874 698,874 698,874
4 Dividends and interest from securities... 969,342 843,460 843,460
5a Gross rents............ 32,815,273 32,815,273 32,815,273
b Net rental income or (loss) 21,628,599
6a Net gain or (loss) from sale of assets not on line 10 21,989,124
b Gross sales price for all assets on line 6a 104,724,086
7 Capital gain net income (from Part IV, line 2)... 25,457,265
8 Net short-term capital gain......... 180,392
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)....... Click to see attachment 15,081,380 1,773,645 1,773,645
12 Total. Add lines 1 through 11........ 71,594,799 61,588,517 36,311,644
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 1,957,137 944,935 944,935 1,012,201
14 Other employee salaries and wages...... 11,287,262 1,235,881 1,235,881 10,051,381
15 Pension plans, employee benefits....... 3,240,445 431,780 431,780 2,817,131
16a Legal fees (attach schedule)......... Click to see attachment 411,867 288,343 288,343 132,235
b Accounting fees (attach schedule)....... Click to see attachment 87,733 43,395 43,395 62,486
c Other professional fees (attach schedule).... Click to see attachment 2,217,779 1,008,802 1,008,802 1,220,549
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 8,699,891 8,513,867 8,513,867 189,469
19 Depreciation (attach schedule) and depletion... 3,646,757 1,625,390 1,625,390
20 Occupancy.............. 557,253 113,002 113,002 455,889
21 Travel, conferences, and meetings....... 586,632 94,670 94,670 490,162
22 Printing and publications.......... 32,725 3,618 3,618 29,077
23 Other expenses (attach schedule)....... Click to see attachment 8,085,705 1,164,269 1,095,316 6,650,290
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 40,811,186 15,467,952 15,398,999 23,110,870
25 Contributions, gifts, grants paid....... 0 0
26 Total expenses and disbursements. Add lines 24 and 25 40,811,186 15,467,952 15,398,999 23,110,870
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 30,783,613
b Net investment income (if negative, enter -0-) 46,120,565
c Adjusted net income (if negative, enter -0-)... 20,912,645
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............. 106,074 847 847
2 Savings and temporary cash investments......... 5,750,904 5,155,944 5,154,902
3 Accounts receivable bullet2,866,714
Less: allowance for doubtful accounts bullet216,374 2,432,248 2,650,340 2,650,340
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) bullet13,000,000
Less: allowance for doubtful accounts bullet0 0 13,000,000 13,000,000
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 645,449 710,057 710,057
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 191,399,269 Click to see attachment176,355,852 195,152,056
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet80,647,236
Less: accumulated depreciation (attach schedule) bullet24,788,983 44,395,307 55,858,253 548,879,781
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet84,143,103
Less: accumulated depreciation (attach schedule) bullet25,555,095 43,845,124 58,588,008 65,485,733
15 Other assets (describe bullet) Click to see attachment21,805,430 Click to see attachment22,075,460 Click to see attachment22,075,460
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 310,379,805 334,394,761 853,109,176
Liabilities 17 Accounts payable and accrued expenses.......... 1,722,832 2,244,911
18 Grants payable.................    
19 Deferred revenue................. 14,781,414 14,560,104
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)...... 11,493,808 Click to see attachment11,913,423
22 Other liabilities (describe bullet) Click to see attachment2,505,468 Click to see attachment2,442,742
23 Total liabilities (add lines 17 through 22)......... 30,503,522 31,161,180
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.................. 279,876,283 303,233,581
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    
30 Total net assets or fund balances (see instructions)..... 279,876,283 303,233,581
31 Total liabilities and net assets/fund balances (see instructions). 310,379,805 334,394,761
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
279,876,283
2
Enter amount from Part I, line 27a .....................
2
30,783,613
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
186,036
4
Add lines 1, 2, and 3 ..........................
4
310,845,932
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
7,612,351
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
303,233,581
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 FROM K-1: ABERDEEN ENERGY & RESOURCES PARTNERS II, LP P    
b FROM K-1: ABERDEEN ENERGY & RESOURCES PARTNERS II, LP P    
c FROM K-1: ABERDEEN ENERGY & RESOURCES PARTNERS II, LP - 1231 P    
d FROM K-1: ABERDEEN ENERGY & RESOURCES PARTNERS III, LP P    
e FROM K-1: ABERDEEN ENERGY & RESOURCES PARTNERS III, LP P    
FROM K-1: ABERDEEN ENERGY & RESOURCES PARTNERS III, LP - 1231 P    
FROM K-1: FRONTIER MARKETS EQUITY FUND P    
FROM K-1: FRONTIER MARKETS EQUITY FUND P    
FROM K-1: BLACKSAND CAPITAL OPPORTUNITY FUND I, LP P    
FROM K-1: BLACKSAND CAPITAL OPPORTUNITY FUND I, LP - 1231 P    
FROM K-1: CA RESOURCES FUND (U.S. TAX-EXEMPT), L.P. - SERIES BAIN X P    
FROM K-1: CA RESOURCES FUND (U.S. TAX-EXEMPT), L.P. - SERIES BAIN X P    
FROM K-1: COMMONFUND CAPITAL INTERNATIONAL PARTNERS VII, LP P    
FROM K-1: COMMONFUND CAPITAL INTERNATIONAL PARTNERS VII, LP P    
FROM K-1: COMMONFUND CAPITAL INTERNATIONAL PARTNERS VII, LP - 1256 P    
FROM K-1: COMMONFUND CAPITAL INTERNATIONAL PARTNERS VII, LP - 1256 P    
FROM K-1: COMMONFUND CAPITAL INTERNATIONAL PARTNERS V, LP P    
FROM K-1: COMMONFUND CAPITAL INTERNATIONAL PARTNERS V, LP P    
FROM K-1: COMMONFUND CAPITAL INTERNATIONAL PARTNERS V, LP - 1231 P    
FROM K-1: DAVIDSON KEMPNER INSTITUTIONAL PARTNERS LP P    
FROM K-1: DAVIDSON KEMPNER INSTITUTIONAL PARTNERS LP P    
FROM K-1: DAVIDSON KEMPNER INSTITUTIONAL PARTNERS LP - 1256 P    
FROM K-1: DAVIDSON KEMPNER INSTITUTIONAL PARTNERS LP - 1256 P    
FROM K-1: EDGBASTON ASIAN EQUITY TRUST P    
FROM K-1: EDGBASTON ASIAN EQUITY TRUST P    
FROM K-1: FARALLON CAPITAL INSTITUTIONAL PARTNERS, LP P    
FROM K-1: FARALLON CAPITAL INSTITUTIONAL PARTNERS, LP P    
FROM K-1: HARVEST MLP INCOME FUND II LLC P    
FROM K-1: HARVEST MLP INCOME FUND II LLC P    
FROM K-1: THE HIGHCLERE INTERNATIONAL INVESTORS P    
FROM K-1: THE HIGHCLERE INTERNATIONAL INVESTORS P    
FROM K-1: HIGHFIELDS CAPITAL IV LP P    
FROM K-1: HIGHFIELDS CAPITAL IV LP P    
FROM K-1: HIGHFIELDS CAPITAL IV LP - 1231 P    
FROM K-1: HIGHFIELDS CAPITAL IV LP - 1231 P    
FROM K-1: HIGHFIELDS CAPITAL IV LP - 1256 P    
FROM K-1: HIGHFIELDS CAPITAL IV LP - 1256 P    
FROM K-1: ICON VENTURES V, L.P. P    
FROM K-1: ICON VENTURES V, L.P. P    
FORM K-1: LEGACY VENTURE VI, LLC P    
FORM K-1: LEGACY VENTURE VI, LLC P    
FROM K-1: LONE STAR EUROPE HOLDINGS (U.S.), L.P. P    
FROM K-1: LONE STAR FUND VI (U.S.), L.P. P    
FORM K-1: LONE STAR FUND VII (U.S.), L.P. P    
FROM K-1: LONE STAR FUND VIII (U.S.), L.P. P    
FORM K-1: LONE STAR REAL ESTATE FUND II (U.S.), L.P. P    
FROM K-1: LONE STAR REAL ESTATE FUND III (U.S.), L.P. P    
FORM K-1: LONE STAR US INVESTMENTS, L.P. P    
FROM K-1: LONE STAR REAL ESTATE FUND IV (U.S.), L.P. P    
FROM K-1: MADISON INTERNATIONAL REAL ESTATE P    
FROM K-1: MADISON INTERNATIONAL REAL ESTATE - DISTRIB IN EXCESS OF BASIS P    
FROM K-1: METROPOLITAN REAL ESTATE EQUITY PARTNERS LP P    
FROM K-1: METROPOLITAN REAL ESTATE EQUITY PARTNERS LP - LOSS ON DISPOSAL P    
FROM K-1: METROPOLITAN REAL ESTATE PARTNERS GLOBAL II P    
FROM K-1: METROPOLITAN REAL ESTATE PARTNERS GLOBAL II - 1231 P    
FROM K-1: METROPOLITAN REAL ESTATE PARTNERS GLOBAL II - LOSS ON DISPOSAL P    
FROM K-1: METROPOLITAN REAL ESTATE PARTNERS GLOBAL III P    
FROM K-1: METROPOLITAN REAL ESTATE PARTNERS GLOBAL III P    
FROM K-1: METROPOLITAN REAL ESTATE PARTNERS GLOBAL III - 1231 P    
FROM K-1: METROPOLITAN REAL ESTATE PARTNERS II, LP P    
FROM K-1: METROPOLITAN REAL ESTATE PARTNERS II, LP P    
FROM K-1: METROPOLITAN REAL ESTATE PARTNERS IV-A, LP P    
FROM K-1: METROPOLITAN REAL ESTATE PARTNERS IV-A, LP - 1231 P    
FROM K-1: METROPOLITAN REAL ESTATE PARTNERS IV-A, LP - 1231 P    
FROM K-1: NATURAL GAS PARTNERS IX LP P    
FROM K-1: NATURAL GAS PARTNERS IX LP - 1231 P    
FROM K-1: NEW ENTERPRISE ASSOCIATES 15, L.P. P    
FROM K-1: NEW ENTERPRISE ASSOCIATES 15, L.P. P    
FROM K-1: NORTHGATE GLOBAL EMERGING MARKETS, LP P    
FROM K-1: NORTHGATE GLOBAL EMERGING MARKETS, LP P    
FROM K-1: NORTHGATE IV, LP P    
FROM K-1: NORTHGATE IV, LP P    
FROM K-1: NORTHGATE IV, LP - 1231 P    
FROM K-1: NORTHGATE PRIVATE EQUITY PARTNERS II(Q), LP P    
FROM K-1: NORTHGATE PRIVATE EQUITY PARTNERS II(Q), LP P    
FROM K-1: NORTHGATE PRIVATE EQUITY PARTNERS II(Q), LP - 1231 P    
FROM K-1: NORTHGATE PRIVATE EQUITY PARTNERS III,LP P    
FROM K-1: NORTHGATE PRIVATE EQUITY PARTNERS III,LP P    
FROM K-1: NORTHGATE PRIVATE EQUITY PARTNERS III,LP - 1231 P    
FROM K-1: NORTHGATE VENTURE PARTNERS III, LP P    
FROM K-1: NORTHGATE VENTURE PARTNERS III, LP P    
FROM K-1: PARK STREET CAPITAL NATURAL RESOURCE FUND III AIV,LP - 1231 P    
FROM K-1: PARK STREET CAPITAL NATURAL RESOURCE FUND III,LP P    
FROM K-1: PARK STREET CAPITAL NATURAL RESOURCE FUND III,LP P    
FROM K-1: PARK STREET CAPITAL NATURAL RESOURCE FUND III,LP - 1231 P    
FROM K-1: PARK STREET CAPITAL NATURAL RESOURCE FUND IV,LP P    
FROM K-1: PARK STREET CAPITAL NATURAL RESOURCE FUND IV,LP P    
FROM K-1: PARK STREET CAPITAL NATURAL RESOURCE FUND IV,LP - 1231 P    
FROM K-1: PARK STREET CAPITAL NATURAL RESOURCE FUND V, LP P    
FROM K-1: PARK STREET CAPITAL NATURAL RESOURCE FUND V, LP P    
FROM K-1: PARK STREET CAPITAL NATURAL RESOURCE FUND V, LP - 1231 P    
FROM K-1: SANDERS CAPITAL ALL ASSET VALUE FUND, LP P    
FROM K-1: SANDERS CAPITAL ALL ASSET VALUE FUND, LP P    
FROM K-1: SOMERSET GLOBAL EMERGING MARKETS FUND LLC P    
FROM K-1: SOMERSET GLOBAL EMERGING MARKETS FUND LLC P    
FROM K-1: STRATEGIC INVESTORS FUND VI, L.P. P    
FROM K-1: STRATEGIC INVESTORS FUND VI, L.P. P    
FROM K-1: U.S. FARMING REALTY TRUST II, LP - 1231 P    
FROM K-1: WOODBOURNE CANADA PARTNERS II, L.P. P    
FROM K-1: XFUND 2, L.P. P    
FROM K-1: COMMONFUND DISTRESSED DEBT PARTNERS II LP P    
FROM K-1: COMMONFUND DISTRESSED DEBT PARTNERS II LP P    
FROM K-1: COMMONFUND DISTRESSED DEBT PARTNERS II LP - 1256 P    
FROM K-1: COMMONFUND DISTRESSED DEBT PARTNERS II LP - 1256 P    
FROM K-1: WELLINGTON TRUST COMPANY, CTF ENERGY PORTFOLIO P    
FROM K-1: WELLINGTON TRUST COMPANY, CTF ENERGY PORTFOLIO P    
FROM K-1: WELLINGTON TRUST COMPANY, CTF ENERGY PORTFOLIO - 1256 P    
FROM K-1: WELLINGTON TRUST COMPANY, CTF ENERGY PORTFOLIO - 1256 P    
FROM K-1: WELLINGTON TRUST COMPANY, CTF DURABLE COMPANIES PORTFOLIO P    
FROM K-1: WELLINGTON TRUST COMPANY, CTF DURABLE COMPANIES PORTFOLIO P    
FROM K-1: LEVEL EQUITY GROWTH PARTNERS III, LP P    
FROM K-1: WELLINGTON TRUST COMPANY, CTF MICRO CAP EQUITY PORTFOLIO P    
FROM K-1: WELLINGTON TRUST COMPANY, CTF MICRO CAP EQUITY PORTFOLIO P    
FROM K-1: WELLINGTON TRUST COMPANY, CTF MICRO CAP EQUITY PORTFOLIO - 1256 P    
FROM K-1: WELLINGTON TRUST COMPANY, CTF MICRO CAP EQUITY PORTFOLIO - 1256 P    
FROM K-1: STRATEGIC INVESTORS FUND VIII, L.P. P    
FROM K-1: STRATEGIC INVESTORS FUND VIII, L.P. P    
FROM K-1: NEW ENTERPRISE ASSOCIATES 16, L.P. P    
FROM K-1: NEW ENTERPRISE ASSOCIATES 16, L.P. P    
FROM K-1: GQG PARTNERS INTERNATIONAL EQUITY FUND GQG PARTNERS SERIES LLLC P    
FROM K-1: GQG PARTNERS INTERNATIONAL EQUITY FUND GQG PARTNERS SERIES LLLC P    
FROM K-1: CENTERGATE CAPITAL PARTNERS I, L.P. P    
FROM K-1: CENTERGATE CAPITAL PARTNERS I, L.P. P    
FROM K-1: MAHOUT GLOBAL EMERGING MARKETS LEADERS FUND P    
FROM K-1: MAHOUT GLOBAL EMERGING MARKETS LEADERS FUND P    
FROM K-1: CAMBRIDGE ASSOCIATES LLC P    
FROM K-1: CAMBRIDGE ASSOCIATES LLC P    
FROM K-1: US RESEARCH EQUITY EXTENDED FUND, L.P. P    
FROM K-1: US RESEARCH EQUITY EXTENDED FUND, L.P. P    
FROM K-1: US RESEARCH EQUITY EXTENDED FUND, L.P. - 1256 P    
FROM K-1: US RESEARCH EQUITY EXTENDED FUND, L.P. - 1256 P    
US BANK #12508      
US BANK #12508      
US BANK DEFLATION ASSETS      
GARDNER RUSSO & GARDNER      
GARDNER RUSSO & GARDNER      
VITSX (DEVELOPED MARKETS)      
VIDMX/VTMNX      
TOUCHSTONE SANDS CAP      
IVA INTERNATIONAL FUND      
IVA INTERNATIONAL FUND      
VGPMX      
VGPMX      
VANGUARD EMERGING MARKETS      
CF NATURAL RESOURCES P    
ABERDEEN E&RP II (FKA FLAG) P    
ABERDEEN E&RP III (FKA FLAG) P    
MREEP P    
MREP II P    
MREP IV P    
MREP GLOBAL II P    
MREP GLOBAL III P    
MADISON INT'L REAL ESTATE FUND IV P    
NGATE PEP II LP P    
BLACKSAND CAPITAL OPPORTUNITY FUND P    
NGATE VENTURE PTRS III LP P    
PARK ST NATURAL RESOURCES FUND III P    
PARK ST NATURAL RESOURCES FUND IV P    
NGATE GLOBAL EMERGING MKTS LP P    
PARK ST NATURAL RESOURCES FUND V P    
NGATE PEP III P    
MADISON V P    
NATURAL GAS PARTNERS P    
BAIN X (VERIFY UNCALLED) P    
NGATE IV P    
LONE STAR FUND VI P    
GOLDMAN SACHS - DISTRESSED OPPORTUNITY P    
GOLDMAN SACHS - VINTAGE V P    
WOODBOURNE CANADIAN PARTNERS II P    
CF CAP INTL PATN VII P    
LONE STAR REAL ESTATE FUND II P    
LEGACY VENTURE P    
SVB SIF FUND VI P    
LONESTAR VIII P    
GS VINTAGE VI P    
JAFCO VENTURES (2014) P    
ROUND HILL MUSIC ROYALTY (2014) P    
HEALTHCARE ROYALTY PARTNERS (2014) P    
LSREF III (2014) P    
LSREF III (2014) P    
XFUND 2, LP P    
NEA 15 P    
LSREF IV P    
ROUND HILL MUSIC FUND II P    
GS VINTAGE VII P    
LONE STAR FUND X P    
GOTHAM P    
DC CAPITAL PARTNERS FUND II LP P    
CCP CORE MACRO FUND (CCP) P    
MILLENNIUM INT'L P    
DISCOVER GLOBAL P    
HIGHFIELDS P    
ABERDEEN FRONTIER MARKETS P    
GAIN ON SALE OF LILIUOKALANI GARDENS P    
GAIN ON SALE OF WAIKIKI BANYAN P    
GAIN ON SALE OF WAIKIKI SUNSET P    
GAIN ON SALE OF FOSTER TOWERS P    
GAIN ON SALE OF 1350 S KING STREET P    
GAIN ON SALE OF KONA JUD LOT 30 P    
LOSS ON DISPOSAL OF FAS 5015 FORD F-250 TRUCK P    
LOSS ON DISPOSAL OF FAS 5015 FORD F-250 TRUCK ACCESSORIES P    
CAPITAL GAINS DIVIDENDS P    
(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     1,177 -1,177
b     46,463 -46,463
c     8,121 -8,121
d 2,244     2,244
e 44,182     44,182
4,261     4,261
684     684
    115,548 -115,548
24,087     24,087
106,001     106,001
537     537
74,092     74,092
503     503
71,767     71,767
1     1
1     1
    10 -10
10,182     10,182
    738 -738
76,384     76,384
127,515     127,515
5,884     5,884
8,826     8,826
980     980
87,478     87,478
58     58
    3,657 -3,657
12,357     12,357
    23,151 -23,151
20,394     20,394
293,924     293,924
    69,479 -69,479
114,069     114,069
1,922     1,922
    953 -953
    14,992 -14,992
    22,488 -22,488
    1,354 -1,354
    25,777 -25,777
18,495     18,495
117,566     117,566
53     53
    10,192 -10,192
1,374     1,374
16,417     16,417
6,151     6,151
    16,498 -16,498
    14,004 -14,004
435     435
17,742     17,742
1,769     1,769
    61,036 -61,036
    59,237 -59,237
25,802     25,802
    242 -242
    25,179 -25,179
3     3
48,744     48,744
    487 -487
    21 -21
    21,899 -21,899
    1,760 -1,760
88     88
    31 -31
5,372     5,372
    357 -357
    644 -644
34,928     34,928
74     74
3,165     3,165
    29 -29
62,586     62,586
690     690
    272 -272
8,451     8,451
    8 -8
6     6
25,891     25,891
    78 -78
456     456
37,121     37,121
5     5
    20 -20
2,935     2,935
    395 -395
826     826
    14,843 -14,843
10,711     10,711
    2,251 -2,251
6,488     6,488
12,963     12,963
73,007     73,007
323,816     323,816
    43,350 -43,350
    33,410 -33,410
614     614
103,864     103,864
138     138
32,489     32,489
55,621     55,621
    73 -73
    30,951 -30,951
7   7 0
10     10
    31,849 -31,849
149,812     149,812
    36 -36
    55 -55
2,715     2,715
196,451     196,451
24,682     24,682
158,935     158,935
765,271     765,271
    1 -1
    1 -1
2,317     2,317
2,340     2,340
1     1
157     157
55,828     55,828
289,658     289,658
    4,780 -4,780
    50,105 -50,105
    31,481 -31,481
502,198     502,198
2     2
8     8
    371,662 -371,662
207,952     207,952
    2,455 -2,455
    3,682 -3,682
333,358   345,481 -12,123
2,436,123   2,321,974 114,149
36,294   93,299 -57,005
313,635   335,441 -21,806
3,803,357   2,598,152 1,205,205
3,000,000   2,026,181 973,819
3,000,000   2,612,909 387,091
2,000,000   1,567,138 432,862
1,500,000   1,265,553 234,447
1,000,000   879,143 120,857
24,698   31,082 -6,384
2,035,187   2,561,293 -526,106
1,497,108   1,367,682 129,426
3,550   3,550 0
78,264   78,264 0
32,887   32,887 0
1,837   1,837 0
23,521   23,521 0
14,184   14,184 0
53,154   53,154 0
81,036   81,036 0
10,471   107,409 -96,938
20,106   20,106 0
98,104   98,104 0
8,899   8,899 0
12,925   12,925 0
69,500   69,500 0
16,320   16,320 0
45,450   45,450 0
25,045   25,045 0
40,521   40,521 0
10,825   12,513 -1,688
24,948   24,948 0
14,380   14,380 0
7,091   7,091 0
41,483   41,483 0
21,032   21,032 0
9,241   9,241 0
60,698   60,698 0
27,423   27,423 0
39,725   39,725 0
26,510   26,510 0
39,015   39,015 0
45,534   45,534 0
5,718   4,859 859
18,839   18,839 0
3,604   3,604 0
148,035   148,035 0
13,736   13,736 0
62,241   62,241 0
43,501   38,083 5,418
57,590   57,590 0
46,684   46,684 0
33,163   33,163 0
1,492   1,492 0
6,611,265   5,500,000 1,111,265
23,853   23,853 0
2,000,000   2,011,533 -11,533
2,915,815   2,250,000 665,815
2,909,664   3,000,000 -90,336
2,039,000   1,154,109 884,891
2,047,230   1,500,000 547,230
361,800   8,173 353,627
3,638,500   217,465 3,421,035
582,200   23,360 558,840
1,989,800   55,113 1,934,687
9,000,000   200,979 8,799,021
10   885 -875
    19,488 -19,488
    1,944 -1,944
1,086,703     1,086,703
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       -1,177
b       -46,463
c       -8,121
d       2,244
e       44,182
      4,261
      684
      -115,548
      24,087
      106,001
      537
      74,092
      503
      71,767
      1
      1
      -10
      10,182
      -738
      76,384
      127,515
      5,884
      8,826
      980
      87,478
      58
      -3,657
      12,357
      -23,151
      20,394
      293,924
      -69,479
      114,069
      1,922
      -953
      -14,992
      -22,488
      -1,354
      -25,777
      18,495
      117,566
      53
      -10,192
      1,374
      16,417
      6,151
      -16,498
      -14,004
      435
      17,742
      1,769
      -61,036
      -59,237
      25,802
      -242
      -25,179
      3
      48,744
      -487
      -21
      -21,899
      -1,760
      88
      -31
      5,372
      -357
      -644
      34,928
      74
      3,165
      -29
      62,586
      690
      -272
      8,451
      -8
      6
      25,891
      -78
      456
      37,121
      5
      -20
      2,935
      -395
      826
      -14,843
      10,711
      -2,251
      6,488
      12,963
      73,007
      323,816
      -43,350
      -33,410
      614
      103,864
      138
      32,489
      55,621
      -73
      -30,951
      0
      10
      -31,849
      149,812
      -36
      -55
      2,715
      196,451
      24,682
      158,935
      765,271
      -1
      -1
      2,317
      2,340
      1
      157
      55,828
      289,658
      -4,780
      -50,105
      -31,481
      502,198
      2
      8
      -371,662
      207,952
      -2,455
      -3,682
      -12,123
      114,149
      -57,005
      -21,806
      1,205,205
      973,819
      387,091
      432,862
      234,447
      120,857
      -6,384
      -526,106
      129,426
      0
      0
      0
      0
      0
      0
      0
      0
      -96,938
      0
      0
      0
      0
      0
      0
      0
      0
      0
      -1,688
      0
      0
      0
      0
      0
      0
      0
      0
      0
      0
      0
      0
      859
      0
      0
      0
      0
      0
      5,418
      0
      0
      0
      0
      1,111,265
      0
      -11,533
      665,815
      -90,336
      884,891
      547,230
      353,627
      3,421,035
      558,840
      1,934,687
      8,799,021
      -875
      -19,488
      -1,944
      1,086,703
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 25,457,265
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 3 180,392
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      
2016      
2015      
2014      
2013      
2
Total of line 1, column (d) .....................
2
 
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
 
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
 
5
Multiply line 4 by line 3......................
5
 
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
 
7
Add lines 5 and 6........................
7
 
8
Enter qualifying distributions from Part XII, line 4,.............
8
 
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: 1974-07-22(attach copy of letter if necessary–see instructions)
b Domestic foundations that meet the section 4940(e) requirements in Part V, check 1 N/A
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  
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 0
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 0
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 0
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 0
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet   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? ....................
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 changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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.
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
    Yes
     
    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 addressbulletWWW.ONIPAA.ORG
    14
    The books are in care ofbulletLILIUOKALANI TRUST Telephone no.bullet (808) 203-6150

    Located atbullet1100 ALAKEA ST SUITE 1100HONOLULUHI 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
    THOMAS K KAULUKUKUI JR TRUSTEE
    40.00     		185,600 65 0
    1132 BISHOP STREET SUITE 1890
    HONOLULU,HI96813
    PATRICK KSL YIM TRUSTEE
    7.00     		185,600 65 0
    1132 BISHOP STREET SUITE 1890
    HONOLULU,HI96813
    CLAIRE L ASAM TRUSTEE
    7.00     		225,600 65 0
    1132 BISHOP STREET SUITE 1890
    HONOLULU,HI96813
    ROBERT OZAKI PRESIDENT & CEO
    40.00     		593,276 23,983 0
    1100 ALAKEA STREET SUITE 1100
    HONOLULU,HI96813
    LEEANN SILVA VICE PRESIDENT
    40.00     		284,904 28,655 0
    1100 ALAKEA STREET SUITE 1100
    HONOLULU,HI96813
    DAWN HARFLINGER VICE PRESIDENT & CFO
    40.00     		243,948 28,720 0
    1100 ALAKEA STREET SUITE 1100
    HONOLULU,HI96813
    MICHELLE AKINA VICE PRESIDENT, CHIEF PROG
    40.00     		238,209 15,174 0
    1100 ALAKEA STREET SUITE 1100
    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
    DEAN PANG CHIEF INFORMATION OF
    40.00     		224,712 23,942 0
    QLT - 1100 ALAKEA ST STE 1100
    HONOLULU,HI96813
    JULI TORIGOE DIRECTOR, FINANCE
    40.00     		180,696 20,934 0
    QLT - 1100 ALAKEA ST STE 1100
    HONOLULU,HI96813
    MICHAEL SHIBATA DIRECTOR, REAL ESTAT
    40.00     		170,652 20,047 0
    QLT - 1100 ALAKEA ST STE 1100
    HONOLULU,HI96813
    MERCEDES LANZA CHIEF PEOPLE OFFICER
    40.00     		167,700 19,505 0
    QLT - 1100 ALAKEA ST STE 1100
    HONOLULU,HI96813
    BARBARA KALIPI SENIOR PROGRAM ADVIS
    40.00     		129,876 20,079 8,800
    QLT - 1100 ALAKEA ST STE 1100
    HONOLULU,HI96813
    Total number of other employees paid over $50,000...................bullet 147
    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
    FLANSBURG ARCHITECTS GENERAL CONTRACTING 718,203
    77 N WASHINGTON STREET
    BOSTON,MA02114
    CAMBRIDGE ASSOCIATES LLC INVESTMENT ADVISORY SERVICES 634,010
    100 SUMMER STREET SUITE 1300
    BOSTON,MA02110
    MITHUN GENERAL CONTRACTING 415,702
    660 MARKET STREET 300
    SAN FRANCISCO,CA94104
    MONARCH INSURANCE SERVICES INSURANCE SERVICES 377,805
    677 ALA MOANA BLVD 500
    HONOLULU,HI96813
    TINGUELY DEVELOPMENT INC GENERAL CONTRACTING 351,734
    73-4257 HULIKOA DRIVE
    KAILUAKONA,HI96740
    Total number of others receiving over $50,000 for professional services.............bullet31
    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 THE PROGRAM GOAL OF THE TRUST IS TO SERVE ORPHAN AND DESTITUTE KAMALI'I AND THEIR FAMILIES. THE FOCUS IS ON STRENGTHENING FAMILIES SO THEY CAN RAISE HEALTHY, RESILIENT CHILDREN. THE TRUST ACCOMPLISHES THIS BY CREATING HIGH-IMPACT PROGRAMS AND SERVICES, AND WORKING WITH OTHERS IN THE COMMUNITY TO CHANGE THE SYSTEM THAT KEEPS THE MOST VULNERABLE INDIVIDUALS TRAPPED IN A CYCLE OF LIMITED OPTIONS. THIS WORK IS CARRIED OUT BY A STAFF OF APPROXIMATELY 180 EMPLOYEES THAT INCLUDE SOCIAL WORKERS, ADMINISTRATIVE AND SUPPORT STAFF OPERATING FROM MULTIPLE OFFICES THROUGHOUT THE STATE. IN 2018 THE TRUST PROVIDED DIRECT SERVICES TO 5,137 KAMALI'I, AND REACHED 7,120 KAMALI'I VIA COMMUNITY ACTIVITIES.AMOUNTS PAID TO ACCOMPLISH CHARITABLE PURPOSES 23,110,870AMOUNTS PAID TO ACQUIRE ASSETS USED FOR CHARITABLE PURPOSE 16,378,778TOTAL AMOUNTS PAID FOR CHARITABLE PURPOSES 39,489,648 39,489,648
    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 N/A 0
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    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
    218,932,847
    b
    Average of monthly cash balances.......................
    1b
    3,699,548
    c
    Fair market value of all other assets (see instructions)................
    1c
    548,879,781
    d
    Total (add lines 1a, b, and c).........................
    1d
    771,512,176
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    771,512,176
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    11,572,683
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    759,939,493
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    37,996,975
    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
     
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
     
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
     
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
     
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
     
    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
     
    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
    23,110,870
    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
    16,378,778
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    39,489,648
    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
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    39,489,648
    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  
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only.......  
    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......  
    fTotal of lines 3a through e........  
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$  
    a Applied to 2017, but not more than line 2a  
    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.....  
    e Remaining amount distributed out of corpus  
    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  
    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 ..........     		 
    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 ......     		 
    10 Analysis of line 9:
    a Excess from 2014....  
    b Excess from 2015....  
    c Excess from 2016....  
    d Excess from 2017....  
    e Excess from 2018....  
    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
    1974-07-22
    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
    20,912,645 20,902,338 21,529,671 18,290,511 81,635,165
    b 85% of line 2a ......... 17,775,748 17,766,987 18,300,220 15,546,934 69,389,890
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		39,489,648 31,030,792 27,987,492 27,614,883 126,122,815
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		0 0 0 0 0
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		39,489,648 31,030,792 27,987,492 27,614,883 126,122,815
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......         0
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		         0
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		25,331,317 24,818,232 23,886,255 24,052,067 98,087,871
    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) ....     		        0
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		        0
    (3) Largest amount of support
    from an exempt organization    		         0
    (4) Gross investment income         0
    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).)
    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.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    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
    Total .................................bullet 3a 0
    bApproved for future payment
    Total .................................bullet 3b 0
    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 ...........     		    14 698,874  
    4 Dividends and interest from securities....     14 969,342  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....     16 21,628,599  
    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 21,989,124  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aOTHER INCOME - CONVEYANCE FEES     		    16 4,926  
    bOTHER INCOME - INVESTMENT INCOME     14 2,031,240  
    cOTHER INCOME - FOREIGN CURRENCY EXCHANGE GAIN(LOSS)     14 -93  
    dOTHER INCOME - LATE FEES     16 25,408  
    eOTHER INCOME - ACCOUNT RECON     16 -35,001  
    fOTHER INCOME - KMART LEASE CONVERSION     16 13,054,900  
    12 Subtotal. Add columns (b), (d), and (e).. 0 60,367,319 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    60,367,319
    (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
    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.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2018
    Name of the organization
    LILIUOKALANI TRUST
     
    Employer identification number

    99-0078890
    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 isn't covered by the General Rule and/or the Special Rules doesn't 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 on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it doesn't 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) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018) Page 2
    Name of organization
    LILIUOKALANI TRUST
          		Employer identification number
    99-0078890
    Part I
    Contributors (See instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    H DWIGHT DAMON
     
    3566 HARDING AVENUE SUITE 4
     
    HONOLULU, HI96816

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
    VERNA MAKANANI
     
    645 WAIKANALOA STREET
     
    HONOLULU, HI95825

    		$ 10,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    3
    NA POKI'I INC
     
    PO BOX 1079
     
    KAMUELA, HI96748

    		$ 20,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 3
    Name of organization
    LILIUOKALANI TRUST
          		Employer identification number

    99-0078890
    Part II
    Noncash Property (See instructions). Use duplicate copies of Part II if additional space is needed.
    (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) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 4
    Name of organization
    LILIUOKALANI TRUST
          		Employer identification number

    99-0078890
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. 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 $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (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) (2018)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2018 AccountingFeesSchedule
    Name:
    LILIUOKALANI TRUST
    EIN:
    99-0078890
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING 87,733 43,395 43,395 62,486

    TY 2018 GeneralExplanationAttachment
    Name:
    LILIUOKALANI TRUST
    EIN:
    99-0078890
    Identifier Return Reference Explanation
    ACCUMULATED DEPRECIATION FORM 990-PF, PART II, LINE 11 BEGINNING A/D - LAND - INVESTMENT 0 BEGINNING A/D - BUILDING & LAND IMPROVEMENTS - INVESTMENT 23,385,567 BEGINNING A/D - CIP - INVESTMENT 0 ----------- BEGINNING A/D - INVESTMENT ASSETS 23,385,567 =========== ENDING A/D - LAND - INVESTMENT 0 ENDING A/D - BUILDING & LAND IMPROVEMENTS - INVESTMENT 24,788,983 ENDING A/D - CIP - INVESTMENT 0 ---------- ENDING A/D - INVESTMENT ASSETS 24,788,983 ==========
    ACCUMULATED DEPRECIATION FORM 990-PF, PART II, LINE 14 BEGINNING A/D - FF&E - EXEMPT 4,622,944 BEGINNING A/D - LAND - EXEMPT 0 BEGINNING A/D - BLDG & IMP - EXEMPT 18,911,355 ---------- BEGINNING A/D - EXEMPT ASSETS 23,534,299 ========== ENDING A/D - FF&E - EXEMPT 4,992,193 ENDING A/D - LAND - EXEMPT 0 ENDING A/D - BLDG & IMP - EXEMPT 20,562,902 ---------- ENDING A/D - EXEMPT ASSETS 25,555,095 ==========
    ELECTION(S) UNDER SECTION 987 FORM 990-PF FOR THE TAX YEAR ENDING DECEMBER 31, 2018, THE TAXPAYER ELECTS UNDER PROPOSED REGULATION SECTION 1.987-1(B)(1)(II) TO NOT APPLY THE PROPOSED SECTION 987 REGULATIONS FOR PURPOSES OF TAKING INTO ACCOUNT CERTAIN ITEMS OF GAIN OR LOSS IF THE INDIVIDUAL OR CORPORATION OWNS, DIRECTLY OR INDIRECTLY, LESS THAN 5% OF EITHER THE TOTAL CAPITAL OR THE TOTAL PROFITS INTERET IN THE FOREIGN PARTNERSHIP.
    OTHER INCOME FORM 990-PF, PART I, LINE 11(B) & 11(C) OTHER INCOME - PART I, LINE 11(A) 15,081,380 LESS: LEASE PREMIUMS FOR TAX NOT RECOGNIZED FOR BOOK (302,870) LESS: OTHER INVESTMENT INCOME FOR BOOK NOT TAX (1,878,377) LESS: LEASE REVERSION INCOME FOR BOOK NOT TAX (13,054,900) PLUS: PASSTHROUGH INCOME FROM SCH. K-1S ABERDEEN ENERGY & RESOURCES PARTNERS II (4,372) ABERDEEN ENERGY & RESOURCES PARTNERS III (3,132) ABERDEEN FRONTIER MARKETS EQUITY FUND 26,590 BLACKSAND CAPITAL OPPORTUNITY FUND I, L.P. 101,876CA RESOURCES FUND (U.S. TAX EXEMPT) L.P. - SERIES BAIN X #35 198CA RESOURCES FUND (U.S. TAX EXEMPT) L.P. - SERIES BAIN X #27 (263) COMMONFUND CAPITAL INTERNATIONAL PARTNERS VII, LP 13,923 COMMONFUND CAPITAL NATURAL RESOURCES V, L.P. 802 DAVIDSON KEMPNER INSTITUTIONAL PARTNERS L.P. 110,007 DOUGLAS EMMETT PARTNERSHIP X, LP 8,306EDGBASTON ASIAN EQUITY TRUST 85,221 FARALLON CAPITAL INSTITUTIONAL PARTNERS, LP 6,326FUND X OPPORTUNITY FUND, LLC 583 HARVEST MLP INCOME FUND II 496,979 HIGHCLERE INTERNATIONAL INVESTORS 115,234 HIGHFIELDS CAPITAL IV LP 25,009HEALTHCARE ROYALTY PARTNERS III, LP 4,480ICON VENTURES (719) LEGACY VENTURE (2,433) LONE STAR EUROPE HOLDINGS (U.S.), LP 29,542 LONE STAR FUND VI (U.S.), LP 56 LONE STAR FUND VII (U.S.), L.P. (401) LONE STAR FUND VIII (U.S.), L.P. 98,391LONE STAR REAL ESTATE FUND II (U.S.), L.P. 9,741 LONE STAR REAL ESTATE FUND III (U.S.), L.P. 62,132LONE STAR REAL ESTATE FUND IV (U.S.), L.P. 13,648 LONE STAR US INVESTMENTS, LP 17MADISON INTERNATIONAL REAL ESTATE LIQUIDITY FUND V (247)METROPOLITAN REAL ESTATE EQUITY PARTNERS (180) METROPOLITAN REAL ESTATE PARTNERS GLOBAL II LP (1,719)METROPOLITAN REAL ESTATE PARTNERS GLOBAL III LP 475 METROPOLITAN REAL ESTATE PARTNERS II (695) METROPOLITAN REAL ESTATE PARTNERS IV-A LP 212 NATURAL GAS PARTNERS IX, L.P. (245)NEW ENTERPRISE ASSOCIATES 15 (1,141)NORTHGATE GLOBAL EMERGING MARKETS LP 969 NORTHGATE IV, L.P. (2,186)NORTHGATE PRIVATE EQUITY PARTNERS II (Q) LP 251 NORTHGATE PRIVATE EQUITY PARTNERS III LP 8,045 NORTHGATE VENTURE PARTNERS III, L.P. 437 PARK STREET CAPITAL NATURAL RESOURCE FUND III AIV LP (20) PARK STREET CAPITAL NATURAL RESOURCE FUND III LP 3,847PARK STREET CAPITAL NATURAL RESOURCE FUND IV LP (1,412) PARK STREET CAPITAL NATURAL RESOURCE FUND V LP 26,326PROPHET EQUITY II (25,881) ROUND HILL MUSIC ROYALTY FUND LP (44,151)SANDERS CAPITAL ALL ASSET VALUE FUND, L.P. - SERIES 1 172,977 SOMERSET GEM FUND LLC 201,296 SVB STRATEGIC INVESTORS FUND VI, LP (2,345) U.S. FARMING REALTY TRUST II, LP (561) WOODBOURNE CANADIAN PARTNERS II 17,514 XFUND 2, LP [CLASS A] (192)XFUND 2, LP [CLASS B] (360)COMMONFUND DISTRESSED DEBT PARTNERS II, L.P. 3,458 ROUND HILL MUSIC ROYALTY FUND II (19,185)WELLINGTON TRUST CO CTF ENERGY PORTFOLIO 79,435WELLINGTON TRUST CO CTF DURABLE COMPANIES PORTFOLIO 71,234LEVEL EQUITY GROWTH PARTNERS III LP (2,341)LEGP III AIV (B), LP (111)WELLINGTON TRUST CO CTF MICRO CAP EQUITY PORTFOLIO 64,172SVB STRATEGIC INVESTORS FUND VIII, LP (617)NEW ENTERPRISE ASSOCIATE 16, L.P. (984)LONE STAR FUND X (U.S.), L.P. (3,913)ENCAP ENERGY CAPITAL FUND XI-C, LP 5,791GQG PARTNERS INTERNATIONAL EQUITY FUND 86,312CENTERGATE CAPITAL PARTNERS, L.P. (3,436)OWL CREEK MGM FUND, LP 100DC CAPITAL PARTNERS FUND II, LP (8,312)MAHOUT GLOBAL EMERGING MARKETS LEADERS FUND 143,647BRAZIL OPPORTUNITY GROWTH PARTNERS II A, LP 2,815GS VINTAGE VII AIV OFFSHORE SCSP 884FELICIS VENTURES VI, LP (491)CAMBRIDGE ASSOCIATES LLC (12,726)LEVEL EQUITY GROWTH PARTNERS IV LP (788)K4 PRIVATE INVESTORS, LP (4,855)LSF X U.S. HOLDINGS, L.P. 103,265US RESEARCH EQUITY EXTENDED FUND, L.P. 18,516BLACKSAND CAPITAL OPPORTUNITY FUND II, L.P. (1,661) PUBLICLY TRADED PARTNERSHIP ACTIVITY (152) SECTION 1231 GAIN INCLUDED ON PART I, LINE 7 (125,368) PRIOR YEAR PASSIVE LOSS RELEASED - FINAL YEAR (15,030)TOTAL OTHER INCOME TO LINE 11(B) & 11(C) 1,773,645

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    LILIUOKALANI TRUST
    EIN:
    99-0078890
    Name of Stock End of Year Book Value End of Year Fair Market Value
    EQUITY SECURITIES 50,871,010 50,871,010
    OTHER 125,484,842 144,281,046

    TY 2018 LegalFeesSchedule
    Name:
    LILIUOKALANI TRUST
    EIN:
    99-0078890
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL 411,867 288,343 288,343 132,235


    TY 2018 MortgagesAndNotesPayableSch
    Name:
    LILIUOKALANI TRUST
    EIN:
    99-0078890
    Total Mortgage Amount:  

    Item No. 1
    Lender's Name BANK OF HAWAII
    Lender's Title  
    Relationship to Insider NONE
    Original Amount of Loan 1,300,000
    Balance Due 863,094
    Date of Note 2004-09
    Maturity Date 2022-07
    Repayment Terms $5,178.00 MONTHLY PAYMENTS
    Interest Rate 3.230000000000
    Security Provided by Borrower FIXED INCOME SECURITY INVESTMENT
    Purpose of Loan FINANCE PURCHASE OF AND IMPROVEMENTS TO OFFICE SPACE AT 1100 ALAKEA ST.
    Description of Lender Consideration  
    Consideration FMV  

    Item No. 2
    Lender's Name BANK OF HAWAII
    Lender's Title  
    Relationship to Insider NONE
    Original Amount of Loan 1,350,000
    Balance Due 1,051,649
    Date of Note 2008-02
    Maturity Date 2023-11
    Repayment Terms $6,455 MONTHLY PAYMENTS
    Interest Rate 4.100000000000
    Security Provided by Borrower FIXED INCOME SECURITY INVESTMENT
    Purpose of Loan FINANCE PURCHASE OF AND IMPROVEMENTS TO WILI PA LOOP PROJECT
    Description of Lender Consideration  
    Consideration FMV  

    Item No. 3
    Lender's Name BANK OF HAWAII
    Lender's Title  
    Relationship to Insider NONE
    Original Amount of Loan 5,000,000
    Balance Due 4,074,933
    Date of Note 2012-06
    Maturity Date 2022-07
    Repayment Terms $24,314.00 MONTHLY PAYMENTS
    Interest Rate 3.230000000000
    Security Provided by Borrower FIXED INCOME SECURITY INVESTMENT
    Purpose of Loan PAY DOWN REVOLVING CREDIT LINE & REIMBURSE BORROWER FOR WAIANAE EXPENDITURES
    Description of Lender Consideration  
    Consideration FMV  

    Item No. 4
    Lender's Name BANK OF HAWAII
    Lender's Title  
    Relationship to Insider NONE
    Original Amount of Loan 5,500,000
    Balance Due 5,165,299
    Date of Note 2015-12
    Maturity Date 2025-12
    Repayment Terms $24,544.00 MONTHLY PAYMENTS
    Interest Rate 3.450000000000
    Security Provided by Borrower FIXED INCOME SECURITY INVESTMENT
    Purpose of Loan FINANCE PURCHASE OF LEIHANO PROJECT
    Description of Lender Consideration  
    Consideration FMV  

    Item No. 5
    Lender's Name BANK OF HAWAII
    Lender's Title  
    Relationship to Insider NONE
    Original Amount of Loan 768,000
    Balance Due 758,448
    Date of Note 2018-03
    Maturity Date 2048-03
    Repayment Terms $3,779.00 MONTHLY PAYMENTS
    Interest Rate 4.250000000000
    Security Provided by Borrower FIXED INCOME SECURITY INVESTMENT
    Purpose of Loan FINANCE PURCHASE OF CAPITOL PLACE CONDOMINIUM
    Description of Lender Consideration  
    Consideration FMV  

    Item No. 6
    Lender's Name BANK OF HAWAII
    Lender's Title  
    Relationship to Insider NONE
    Original Amount of Loan 2,500,000
    Balance Due 0
    Date of Note 2013-06
    Maturity Date 2016-10
    Repayment Terms  
    Interest Rate 1.750000000000
    Security Provided by Borrower FIXED INCOME SECURITY INVESTMENT
    Purpose of Loan GENERAL LINE OF CREDIT
    Description of Lender Consideration  
    Consideration FMV  


    TY 2018 OtherAssetsSchedule
    Name:
    LILIUOKALANI TRUST
    EIN:
    99-0078890
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    STRAIGHT-LINE RENT RECEIVABLE 21,738,995 21,175,971 21,175,971
    INVESTMENT RECEIVABLE 66,435 899,489 899,489


    TY 2018 OtherDecreasesSchedule
    Name:
    LILIUOKALANI TRUST
    EIN:
    99-0078890
    Description Amount
    NET UNREALIZED GAIN/(LOSS) ON INVESTMENTS 7,612,349
    ROUNDING 2


    TY 2018 OtherExpensesSchedule
    Name:
    LILIUOKALANI TRUST
    EIN:
    99-0078890
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FINANCIAL ASSISTANCE 2,072,266 0 0 2,055,455
    PARTNERSHIPS AND COLLABORATIONS 754,348 0 0 734,558
    REPAIRS & MAINTENANCE 710,389 49,008 49,008 652,440
    SUPPLIES 256,988 37,852 37,852 221,706
    UTILITIES 425,993 9,294 9,294 414,025
    INFORMATION TECHNOLOGY 352,247 48,180 48,180 261,354
    TELEPHONE 381,122 23,104 23,104 357,639
    INSURANCE 702,269 189,942 189,942 526,487
    EQUIPMENT RENTAL 322,648 29,455 29,455 280,952
    EDUCATION 165,013 39,676 39,676 126,405
    DUES 35,242 8,674 8,674 28,100
    REAL ESTATE GENERAL 575,287 449,852 449,852 125,435
    REAL ESTATE MANAGEMENT FEES 127,626 103,417 103,417 24,210
    LEASING COMMISSION 47,563 47,563 47,563 0
    BAD DEBT EXPENSE 68,515 68,515 68,515 0
    UNRELATED BUSINESS INCOME 0 0 -68,953 0
    LOSS ON IMPAIRMENT OF PREPERTY & EQUIPMENT 299,542 0 0 0
    OTHER EXPENSES 788,647 59,737 59,737 841,524


    TY 2018 OtherIncomeSchedule2
    Name:
    LILIUOKALANI TRUST
    EIN:
    99-0078890
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OTHER INCOME - CONVEYANCE FEES 4,926   4,926
    OTHER INCOME - INVESTMENT INCOME 2,031,240   2,031,240
    OTHER INCOME - FOREIGN CURRENCY EXCHANGE GAIN(LOSS) -93   -93
    OTHER INCOME - LATE FEES 25,408   25,408
    OTHER INCOME - ACCOUNT RECON -35,001   -35,001
    OTHER INCOME - KMART LEASE CONVERSION 13,054,900   13,054,900


    TY 2018 OtherIncreasesSchedule
    Name:
    LILIUOKALANI TRUST
    EIN:
    99-0078890
    Description Amount
    FASB STATEMENT 158 ADJUSTMENT 186,036


    TY 2018 OtherLiabilitiesSchedule
    Name:
    LILIUOKALANI TRUST
    EIN:
    99-0078890
    Description Beginning of Year - Book Value End of Year - Book Value
    ACCRUED VACATION 1,103,451 1,188,402
    ACCRUED POSTRETIREMENT BENEFITS 1,402,017 1,254,340


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    LILIUOKALANI TRUST
    EIN:
    99-0078890
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT SERVICES 135,951 135,951 135,951 0
    OTHER PROFESSIONAL FEES 2,081,828 872,851 872,851 1,220,549


    TY 2018 TaxesSchedule
    Name:
    LILIUOKALANI TRUST
    EIN:
    99-0078890
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    REAL PROPERTY TAX 6,856,039 6,667,839 6,667,839 189,469
    HAWAII GENERAL EXCISE TAX 1,795,562 1,795,562 1,795,562 0
    INCOME & FOREIGN TAX 48,290 50,466 50,466 0