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
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
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) 544-3597
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$13,343,562J 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) 80,000
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 255,917 255,917  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 167,507
b Gross sales price for all assets on line 6a 2,302,892
7 Capital gain net income (from Part IV, line 2)... 167,507
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)....... Click to see attachment 20,000    
12 Total. Add lines 1 through 11........ 523,424 423,424  
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)......... Click to see attachment 1,780 0 0 1,780
b Accounting fees (attach schedule)....... Click to see attachment 32,090 5,759 0 26,331
c Other professional fees (attach schedule).... Click to see attachment 189,279 88,116   101,163
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 6,799      
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 688,101     688,101
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 918,049 93,875 0 817,375
25 Contributions, gifts, grants paid....... 1,216,505 1,204,004
26 Total expenses and disbursements. Add lines 24 and 25 2,134,554 93,875 0 2,021,379
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,611,130
b Net investment income (if negative, enter -0-) 329,549
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
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............. 892 153,674 153,674
2 Savings and temporary cash investments......... 673,442 513,980 513,980
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) 30,000 Click to see attachment25,000 26,986
b Investments—corporate stock (attach schedule)....... 4,370,551 Click to see attachment4,326,578 8,530,531
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).......... 5,480,520 Click to see attachment3,925,043 4,118,391
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) 10,555,405 8,944,275 13,343,562
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 FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 10,555,405 8,944,275
29 Total net assets or fund balances (see instructions)..... 10,555,405 8,944,275
30 Total liabilities and net assets/fund balances (see instructions). 10,555,405 8,944,275
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 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
10,555,405
2
Enter amount from Part I, line 27a .....................
2
-1,611,130
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
8,944,275
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 29 .
6
8,944,275
Form 990-PF (2020)
Form 990-PF (2020)
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 2,302,892   2,135,385 167,507
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       167,507
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 2 167,507
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
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
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 for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 4,581
c All other domestic foundations enter 1.39% 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 4,581
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 4,581
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 5,871
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 3,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 8,871
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 4,290
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet4,290 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 the instructions
for the 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
Yes
 
If "Yes," attach a detailed description of the activities.Click to see attachment
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 2020 or the taxable year beginning in 2020? 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 (2020)
    Form 990-PF (2020)
    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 2020, 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 2020?.............
    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 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    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 2020 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 2020.)..................
    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 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    Yes
     
    .........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). Click to see attachment
    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 PRESIDENT UNTIL 4/2020
    0.25     		0 0 0
    220 SOUTH KING STREET
    HONOLULU,HI96813
    CATHERINE NGO PRESIDENT BEGINNING 5/2020
    0.25     		0 0 0
    220 SOUTH KING STREET
    HONOLULU,HI96813
    KYLE SAKAMOTO VP, TREASURER UNTIL 6/2020
    0.25     		0 0 0
    220 SOUTH KING STREET
    HONOLULU,HI96813
    WAYNE KIRIHARA VP, SECRETARY UNTIL 12/2020
    0.25     		0 0 0
    220 SOUTH KING STREET
    HONOLULU,HI96813
    PAUL YONAMINE VICE PRESIDENT
    0.25     		0 0 0
    220 SOUTH KING STREET
    HONOLULU,HI96813
    KIMBERLY HARUKI VP BEGINNING 5/2020
    0.25     		0 0 0
    220 SOUTH KING STREET
    HONOLULU,HI96813
    ARNOLD MARTINEZ VP BEGINNING 5/2020
    0.25     		0 0 0
    220 SOUTH KING STREET
    HONOLULU,HI96813
    KEVIN DALHSTROM VP BEGINNING 5/2020
    0.25     		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 (2020)
    Form 990-PF (2020)
    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 181,111
    220 South King St 3rd Floor
    HONOLULU,HI96813
    iQ 360 Inc MARKETING SERVICES 83,076
    1000 Bishop Street Suite 500
    HONOLULU,HI96813
    Phenomenon Marketing & EntertainmenT MARKETING SERVICES 183,000
    5900 Wilshire Blvd Floor 28
    LOS ANGELES,CA90036
    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 KEEP HAWAII COOKING - HELPED RESIDENTS WHO FACED FINANCIAL DURESS DURING 3 DAYS OF A SHELTER AT HOME PHASE OF THE PANDEMIC BY COVERING 50% OF A TAKEOUT OR DELIVERY MEAL. 410,661
    2 BRICKS TO BYTES - HELPS HAWAII SMALL BUSINESSES PIVOT FROM A BRICK AND MORTAR APPORACH TO MORE DIGITAL OPERATIONS TO HELP THEM REMAIN IN BUSINESS DURING THE COVID-19 PANDEMIC. 183,000
    3 KIZUNALOHA - ASSISTING WITH ECONOMIC RECOVERY IN HAWAII BY PROVIDING JAPANESE CONSUMERS MESSAGES OF GOODWILL DURING THE COVID-19 PANDEMIC TO HELP PROMOTE FUTURE TRAVEL TO HAWAII. 93,927
    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 (2020)
    Form 990-PF (2020)
    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
    12,126,132
    b
    Average of monthly cash balances.......................
    1b
    863,335
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    12,989,467
    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
    12,989,467
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    194,842
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    12,794,625
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    639,731
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    639,731
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    4,581
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    4,581
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    635,150
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    20,000
    5
    Add lines 3 and 4............................
    5
    655,150
    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
    655,150
    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
    2,021,379
    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
    2,021,379
    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
    2,021,379
    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 (2020)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7 655,150
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 0
    b Total for prior years:2018, 2017, 2016 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015......  
    b From 2016......  
    c From 2017...... 0
    d From 2018...... 182,464
    e From 2019...... 293,231
    fTotal of lines 3a through e........ 475,695
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 2,021,379
    a Applied to 2019, but not more than line 2a 0
    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 2020 distributable amount..... 655,150
    e Remaining amount distributed out of corpus 1,366,229
    5 Excess distributions carryover applied to 2020.    
    (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 1,841,924
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    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 ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		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 2015 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		1,841,924
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017.... 0
    c Excess from 2018.... 182,464
    d Excess from 2019.... 293,231
    e Excess from 2020.... 1,366,229
    Form 990-PF (2020)
    Form 990-PF (2020)
    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 2020, 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) 2020 (b) 2019 (c) 2018 (d) 2017
             
    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:
    FOR MORE INFORMATION REGARDING APPLICATION PLEASE EMAIL CPBFOUNDATION@CPB.BANK
    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 EMAIL CPBFOUNDATION@CPB.BANK
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    Adult Friends for Youth
    3375 Koapaka St
    Honolulu,HI96819     		N/A PC GENERAL PROGRAM SUPPORT 10,000
    AIO FOUNDATION
    1000 Bishop St Suite 202
    Honolulu,HI96813     		N/A PC SUPPORT FOR ALOHASAFE 50,000
    AIO FOUNDATION
    1000 Bishop St Suite 202
    Honolulu,HI96813     		N/A PC SUPPORT FOR ALOHATRACE 50,000
    AIO FOUNDATION ON BEHALF OF KAHAUIKI VILLAGE
    1000 Bishop St Suite 202
    Honolulu,HI96813     		N/A PC SUPPORT FOR KAHAUIKI VILLAGE 50,000
    Aloha Harvest
    200 N Vineyard Blvd B120
    Honolulu,HI96817     		N/A PC GENERAL PROGRAM SUPPORT 10,000
    Aloha Medical Mission
    200 N Vineyard Blvd B120
    Honolulu,HI96817     		N/A PC HEALTHCARE TO UNDERSERVED 2,500
    Aloha United Way & Alexis De Tocqueville
    3599 Waialae Ave 23
    Honolulu,HI96816     		N/A PC MATCHING FUND FOR UNITED WAY 68,681
    Arthritis Foundation Hawaii
    2752 Woodlawn Dr 5
    Honolulu,HI96822     		N/A PC GENERAL PROGRAM SUPPORT 2,500
    Big Brothers Big Sisters Hawaii
    2119 N King Street 202
    Honolulu,HI96819     		N/A PC GENERAL PROGRAM SUPPORT 10,000
    Boy Scouts of America Aloha Council
    42 Puiwa Rd
    Honolulu,HI96817     		N/A PC Distinguished Citizen Award Luncheon 5,000
    Boy Scouts of America Aloha Council
    42 Puiwa Rd
    Honolulu,HI96817     		N/A PC Roots and Wings Capital Campaign 15,000
    Boys and Girls Clubs of Hawaii
    1000 Bishop St 505
    Honolulu,HI96813     		N/A PC Distribution Services 15,000
    Boys and Girls Clubs of Hawaii
    1000 Bishop St 505
    Honolulu,HI96813     		N/A PC Support for Virtual Learning programs 2,500
    Catholic Charities Hawaii
    1822 Keeaumoku St
    Honolulu,HI96822     		N/A PC LAULIMA HOUSE PROJECT 12,500
    Densho
    1416 South Jackson Street
    Seattle,WA98144     		N/A PC Support for Digital based education platform 5,000
    Domestic Violence Action Center
    Po Box 3198
    Honolulu,HI96801     		N/A PC Support for MAN. KIND program 10,000
    Easterseals Hawaii
    710 Green Street
    Honolulu,HI96813     		N/A PC GENERAL PROGRAM SUPPORT 10,000
    Ethnic Education Hawaii on behalf of KZOO Radio
    1188 Bishop St Suite 1201
    Honolulu,HI96813     		N/A PC Support provided for equipment upgrades 10,000
    Filipino Community Center
    94-428 Mokuola Street Suite 302
    Waipahu,HI96797     		N/A PC Support of Filipino Culture 5,000
    Friends of the Children's Justice Center of Maui
    1773 A Wili Pa Loop
    Wailuku,HI96793     		N/A PC GENERAL PROGRAM SUPPORT 10,000
    Goodwill Industries of Hawaii Inc
    2610 Kilihau Street
    Honolulu,HI96819     		N/A PC HONOLULU CAREER AND LEARNING CENTER RENOVATION 12,500
    Hale Mahaolu
    200 Hina Avenue
    Kahului,HI96732     		N/A PC GENERAL PROGRAM SUPPORT 5,000
    Hawaii Academy of Science
    1776 University Ave UA4-4
    Honolulu,HI96822     		N/A PC THE HAWAII STATE SCIENCE & ENGINEERING PROGRAM 5,000
    Hawaii Chamber of Commerce Foundation
    733 Bishop St 1200
    Honolulu,HI96813     		N/A PC Pulse of Business 12,500
    Hawaii Children's Cancer Foundation
    1814 Liliha St
    Honolulu,HI96817     		N/A PC GENERAL PROGRAM SUPPORT 10,000
    Hawaii Children's Action Network
    850 Richards Street Suite 201
    Honolulu,HI96813     		N/A PC Keiki School Desks 3,000
    Hawaii Community Foundation
    827 Fort Street Mall
    Honolulu,HI96813     		N/A PC Chef Hui Fund 27,200
    Hawaii Community Foundation
    827 Fort Street Mall
    Honolulu,HI96813     		N/A PC Kauai Education Technology Pilot Project 25,000
    Hawaii Community Foundation
    827 Fort Street Mall
    Honolulu,HI96813     		N/A PC Catalyst Fund 2,500
    Hawaii Executive Collaborative
    1585 Kapiolani Blvd
    Honolulu,HI96814     		N/A PC 2020 Hawaii Executive Conference 25,000
    Hawaii Executive Collaborative
    1585 Kapiolani Blvd
    Honolulu,HI96814     		N/A PC TRUE Programs 50,000
    Hawaii Executive Collaborative
    1585 Kapiolani Blvd
    Honolulu,HI96814     		N/A PC Temporary Resident Program 50,000
    Hawaii Food Industry Association
    1050 Bishop St PMB 235
    Honolulu,HI96813     		N/A NC Made in Hawaii Festival 25,000
    Hawaii Foodbank
    760 Kolu St
    Wailuku,HI96793     		N/A PC GENERAL PROGRAM SUPPORT 10,000
    Hawaii HomeOwnership Center
    1259 Aala St
    Honolulu,HI96817     		N/A PC GENERAL PROGRAM SUPPORT 2,000
    Hawaii Island United Way
    PO Box 745
    Hilo,HI96721     		N/A PC MATCHING FUND FOR UNITED WAY 344
    Hawaii Red Cross
    4155 Diamond Head Road
    Honolulu,HI96816     		N/A PC GENERAL PROGRAM SUPPORT 2,500
    Hawaii Symphony Orchestra
    3610 Waialae Avenue
    Honolulu,HI96816     		N/A PC Ron Artis II & Hawaii Symphony Orchestra TV Event 5,000
    Hawaii United Okinawa Association
    94-587 Ukee St
    Waipahu,HI96797     		N/A PC Okinawan Festival 2020 25,000
    Hawaii VA Foundation
    111 Hekili St 102
    Kailua,HI96734     		N/A PC Our Kupuna program support 2,500
    Hawaiian Legacy Reforestation Initiative
    PO Box 22435
    Honolulu,HI96823     		N/A PC Reforestation Initiative 4,500
    Honolulu Zoo Society
    151 Kapahulu Ave
    Honolulu,HI96815     		N/A PC Virtual conservation-focused educational programs 3,650
    Hookuaaina
    PO Box 342146
    Kailua,HI96734     		N/A PC GENERAL PROGRAM SUPPORT 5,000
    Hoola Na Pua
    PO Box 22551
    Honolulu,HI96823     		N/A PC PEARL HAVEN RENOVATIONS 30,000
    Hoola Na Pua
    PO Box 22551
    Honolulu,HI96823     		N/A PC GENERAL PROGRAM SUPPORT 5,000
    Hope Services Hawaii
    357 Waianuenue Avenue
    Hilo,HI96720     		N/A PC GENERAL PROGRAM SUPPORT 2,500
    Hui Malama I Ke Ala Uliuli
    PO Box 6
    Paauilo,HI96776     		N/A PC GENERAL PROGRAM SUPPORT 2,500
    Institute for Human Services
    546 Kaaahi St
    Honolulu,HI96817     		N/A PC Distribution of Family Meal Packs 4,371
    Institute for Human Services
    546 Kaaahi St
    Honolulu,HI96817     		N/A PC GENERAL PROGRAM SUPPORT 10,000
    Japan-America Society of Hawaii
    1600 Kapiolani Blvd 204
    Honolulu,HI96814     		N/A PC Support for Hawaii & Japan Relations 25,000
    Junior Achievement of Hawaii
    1888 Kalakaua Ave Suite C-312
    Honolulu,HI96815     		N/A PC GENERAL PROGRAM SUPPORT 6,000
    Ka Lima O Maui
    95 Mahalani Street Suite 19B
    Wailuku,HI96793     		N/A PC Construction of the New Ka Lima O Maui Center of O 10,000
    Kaaawa K9 Rescue
    PO Box 300348
    Kaaawa,HI96730     		N/A PC GENERAL PROGRAM SUPPORT 10,000
    Kama'aina Kids
    156 Hamakua Dr Suite C
    Kailua,HI96734     		N/A PC GENERAL PROGRAM SUPPORT 10,000
    Kauai United Way
    PO Box 1087
    Lihue,HI96766     		N/A PC MATCHING FUND FOR UNITED WAY 202
    Kauai United Way
    PO Box 1087
    Lihue,HI96766     		N/A PC GENERAL PROGRAM SUPPORT 10,000
    Kauai United Way
    PO Box 1087
    Lihue,HI96766     		N/A PC GENERAL PROGRAM SUPPORT 10,000
    KOKUA KALIHI VALLEY COMPREHENSIVE FAMILY SERVICES
    2239 North School St
    Honolulu,HI96819     		N/A PC Gaps Funding in Support of COVID-19 Response 25,000
    Lanakila Pacific
    1809 Bachelot St
    Honolulu,HI96817     		N/A PC Emergency Food Kits for Seniors 15,000
    Lanakila Pacific
    1809 Bachelot St
    Honolulu,HI96817     		N/A PC GENERAL PROGRAM SUPPORT 15,000
    Malama Meals
    2469 S King St
    Honolulu,HI96826     		N/A PC GENERAL PROGRAM SUPPORT 15,000
    Maui Chamber of Commerce Foundation
    95 Mahalani St 22a
    Wailuku,HI96793     		N/A PC Maui Festival 2,500
    Maui Day Care Center for Senior Citizen & Disabled
    11 Mahaolu Street Suite B
    Kahului,HI96732     		N/A PC GENERAL PROGRAM SUPPORT 5,000
    Maui Economic Development Board
    1305 North Holopono Street Suite 1
    Kihei,HI96753     		N/A PC GENERAL PROGRAM SUPPORT 5,000
    Maui Economic Opportunity Inc
    99 Mahalani St
    Wailuku,HI96793     		N/A PC GENERAL PROGRAM SUPPORT 5,000
    Maui Food Bank
    760 Kolu St
    Wailuku,HI96793     		N/A PC GENERAL PROGRAM SUPPORT 5,000
    Maui United Way
    270 Hookahi St Suite 301
    Wailuku,HI96793     		N/A PC MATCHING FUND FOR UNITED WAY 1,521
    Maui Youth and Family Services Inc
    200 Ike Drive
    Makawao,HI96768     		N/A PC CONSTRUCTION OF NEW COORDINATED PROGRAMS FACILITY 15,000
    Merriman's Foundation
    65-1227 Opelo Road
    Kamuela,HI96743     		N/A PC Merriman's Culinary Scholarship 2,000
    Move Oahu Forward
    PO Box 1329
    Honolulu,HI96807     		N/A NC Promise of Rail Campaign 10,000
    Nisei Veterans Memorial Center
    665 Kahului Beach Road
    Kahului,HI96732     		N/A PC Find the Hero Virtual Programming 5,000
    Paws of Hawaii
    PO Box 6177
    Kaneohe,HI96744     		N/A PC GENERAL PROGRAM SUPPORT 10,000
    Ronald McDonald House Charities
    1970 Judd Hillside Road
    Honolulu,HI96822     		N/A PC Home Away From Home 2,500
    RYSE - Residential Youth Services and Enpowerment
    PO Box 11662
    Honolulu,HI96828     		N/A PC GENERAL PROGRAM SUPPORT 5,000
    St Francis Healthcare System of Hawaii
    2226 Liliha Street
    Honolulu,HI96817     		N/A SO I Meal distribution to Kupuna 2,500
    Teach For America
    500 Ala Moana Blvd Suite 3-580
    Honolulu,HI96813     		N/A PC PROGRAMMING SUPPORT 3,000
    Teamsters Local Union 996
    1817 Hart Street
    Honolulu,HI96819     		N/A NC Food Drive 2,500
    THE ARC IN HAWAII
    3989 Diamond Head Rd
    Honolulu,HI96816     		N/A PC GENERAL PROGRAM SUPPORT 5,000
    The Food Basket Hawai'i Island's Food Bank
    40 Holomua St
    Hilo,HI96720     		N/A PC GENERAL PROGRAM SUPPORT 5,000
    The Salvation Army
    2950 Manoa Road
    Honolulu,HI96822     		N/A PC Food Distribution 15,000
    The Salvation Army
    2950 Manoa Road
    Honolulu,HI96822     		N/A PC 2020 Rescue Christmas Initiative 24,036
    The Salvation Army
    2950 Manoa Road
    Honolulu,HI96822     		N/A PC Drug & Alcohol Rehabilitation 5,000
    US-Japan Council
    1819 L Street suite 800
    Washington,DC20036     		N/A PC US Japan Council 2020 Virtual Program 50,000
    UNIVERSITY OF HAWAII FOUNDATION
    1314 S King Street Suite B
    Honolulu,HI96814     		N/A PC Shidler College of Business programs 5,000
    UNIVERSITY OF HAWAII FOUNDATION on behalf of UH Ma
    1314 S King Street Suite B
    Honolulu,HI96814     		N/A PC Central Pacific Bank Rising Scholars Fund 17,000
    Wahiawa General Hospital
    128 Lehua St
    Wahiawa,HI96786     		N/A PC Prepare for influx of COVID 19 patients 100,000
    Waikiki Community Center
    310 Paoakalani Avenue
    Honolulu,HI96815     		N/A PC WCC Programming 5,000
    YMCA OF HONOLULU
    1441 Pali Hwy
    Honolulu,HI96813     		N/A PC Metro Annual Campaign 1,500
    YWCA Oahu
    1040 Richards Street
    Honolulu,HI96813     		N/A PC EXPANSION OF PATSY T MINK CENTER 15,000
    YWCA Oahu
    1040 Richards Street
    Honolulu,HI96813     		N/A PC GENERAL PROGRAM SUPPORT 5,000
    YWCA Oahu
    1040 Richards Street
    Honolulu,HI96813     		N/A PC GENERAL PROGRAM SUPPORT 10,000
    Total .................................bullet 3a 1,216,505
    bApproved for future payment
    Hawaii United Okinawa Association
    94-587 Ukee Street
    Waipahu,HI96797     		N/A PC Family Meal Packs 12,500
    Pai Foundation
    904 Kohou St 102
    Honolulu,HI96817     		N/A PC SUPPORT FOR ART WALL 8,000
    Total .................................bullet 3b 20,500
    Form 990-PF (2020)
    Form 990-PF (2020)
    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 ...........     		         
    4 Dividends and interest from securities....     14 255,917  
    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 ............     		    18 167,507  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aRETURNED GRANT     		    01 20,000  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   443,424  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    443,424
    (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 (2020)
    Form 990-PF (2020)
    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 instructions.
    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 (2020)
    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
    2020
    Name of the organization
    CENTRAL PACIFIC BANK FOUNDATION
     
    Employer identification number

    39-2068708
    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) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020) Page 2
    Name of organization
    CENTRAL PACIFIC BANK FOUNDATION
          		Employer identification number
    39-2068708
    Part I
    Contributors
    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
    HAWAII DBEDT
    PO Box 2359
     
    Honolulu, HI96804

    		$ 45,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
    Samkoo Hawaii LLC
    1440 Kapiolani Blvd Suite 940
     
    Honolulu, HI96814

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    3
    Hawaii Executive Collaborative
    1000 Bishop St Suite 202
     
    Honolulu, HI96813

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    4
    aio Foundation
    1000 Bishop St Suite 202
     
    Honolulu, HI96813

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    5
    Hawaii Lodging and Tourism Associat
    2270 Kalakaua Ave 1702
     
    Honolulu, HI96815

    		$ 5,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    6
    Japan Hawaii Travel Association
    818 Pine Street
     
    Honolulu, HI96817

    		$ 15,000


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 3
    Name of organization
    CENTRAL PACIFIC BANK FOUNDATION
          		Employer identification number

    39-2068708
    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) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 4
    Name of organization
    CENTRAL PACIFIC BANK FOUNDATION
          		Employer identification number

    39-2068708
    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) (2020)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2020 AccountingFeesSchedule
    Name:
    CENTRAL PACIFIC BANK FOUNDATION
    EIN:
    39-2068708
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    AUDIT FEES 11,517 5,759   5,758
    CONSULTING FEES 20,573     20,573

    TY 2020 ActyNotPreviouslyRptExpln
    Name:
    CENTRAL PACIFIC BANK FOUNDATION
    EIN:
    39-2068708
    Explanation:
     

    TY 2020 ContractorCompensationExpln
    Name:
    CENTRAL PACIFIC BANK FOUNDATION
    EIN:
    39-2068708
    Contractor Explanation
    CENTRAL PACIFIC BANK INVESTMENT ADVISORY AND PROFESSIONAL SERVICES
    iQ 360 Inc MARKETING SERVICES FOR KIZUNALOHA PROGRAM
    Phenomenon Marketing Entertainmen MARKETING SERVICES FOR BRICKS TO BYTES PROGRAM

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

    TY 2020 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

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

    TY 2020 ExpenditureResponsibilityStmt
    Name:
    CENTRAL PACIFIC BANK FOUNDATION
    EIN:
    39-2068708
    Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
    HAWAII FOOD INDUSTRY ASSOCIATION
          		1050 BISHOP ST PMB 235
    HONOLULU,HI96813     		2020-08-12 25,000 Made in Hawaii Festival 2020 Presenting Sponsorship 25,000 NO 07/22/2020 2020-07-22 TO THE KNOWLEDGE OF THE FOUNDATION, AND BASED ON THE REPORT FURNISHED BY THE GRANTEE, NO PART HAS BEEN USED FOR OTHER THAN ITS INTENDED PURPOSE.

    TY 2020 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 687,415 1,242,824
    ISHARES MSCI EAFE INDEX 908,648 1,183,265
    SPDR S&P 500 2,624,735 5,992,549
    CT PAC FINANCIAL CORP STOCK 105,780 111,893

    TY 2020 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:

    26,986
    State & Local Government Securities - End of Year Book Value:


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


     


    TY 2020 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 3,925,043 4,118,391

    TY 2020 LegalFeesSchedule
    Name:
    CENTRAL PACIFIC BANK FOUNDATION
    EIN:
    39-2068708
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CADES SCHUTTE LLP 1,780     1,780


    TY 2020 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 EXPENSE 253     253
    MEALS & ENTERTAINMENT 260     260
    BRICKS TO BYTES EXPENSE 183,000     183,000
    KEEP HAWAII COOKING EXPENSE 410,661     410,661
    KIZUNALOHA EXPENSE 93,927     93,927


    TY 2020 OtherIncomeSchedule2
    Name:
    CENTRAL PACIFIC BANK FOUNDATION
    EIN:
    39-2068708
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Return of prior year grants 20,000    


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    CENTRAL PACIFIC BANK FOUNDATION
    EIN:
    39-2068708
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT ADVISORY FEES 88,116 88,116    
    CPB SERVICE COSTS 92,995     92,995
    TECHNICAL SUPPORT FEES 8,168     8,168


    TY 2020 TaxesSchedule
    Name:
    CENTRAL PACIFIC BANK FOUNDATION
    EIN:
    39-2068708
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL ESTIMATED TAX PAID 5,871      
    FEDERAL EXCISE TAXES 928