Form990-PF
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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. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 08-01-2021 , and ending 07-31-2022
Name of foundation
THE KOSASA FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)766 POHUKAINA STREET
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
HONOLULU, HI96813
A Employer identification number

99-0313279
B Telephone number (see instructions)

(808) 591-2550
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$127,626,737J 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) 0
2 Check bullet.............
3 Interest on savings and temporary cash investments 5,974 5,974  
4 Dividends and interest from securities... 1,723,069 1,723,069  
5a Gross rents............ 280,965 280,965  
b Net rental income or (loss) 136,934
6a Net gain or (loss) from sale of assets not on line 10 -1,358,880
b Gross sales price for all assets on line 6a 138,019,215
7 Capital gain net income (from Part IV, line 2)... 0
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 421,276 420,626  
12 Total. Add lines 1 through 11........ 1,072,404 2,430,634  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 27,521 0   27,521
14 Other employee salaries and wages......        
15 Pension plans, employee benefits....... 2,744 0   2,744
16a Legal fees (attach schedule)......... Click to see attachment 6,794 0   6,794
b Accounting fees (attach schedule)....... Click to see attachment 31,806 22,264   9,542
c Other professional fees (attach schedule).... Click to see attachment 865,911 865,642   269
17 Interest............... 79,035 79,035   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 284,221 107,383   1,838
19 Depreciation (attach schedule) and depletion... Click to see attachment 28,404 28,263  
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 88,816 85,389   3,427
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,415,252 1,187,976   52,135
25 Contributions, gifts, grants paid....... 6,688,000 6,688,000
26 Total expenses and disbursements. Add lines 24 and 25 8,103,252 1,187,976   6,740,135
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -7,030,848
b Net investment income (if negative, enter -0-) 1,242,658
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
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............. 997,565 1,182,237 1,182,237
2 Savings and temporary cash investments.........      
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) 23,826,510 Click to see attachment10,626,443 10,825,563
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule)....... 14,638,292 0 0
11 Investments—land, buildings, and equipment: basis bullet5,112,073
Less: accumulated depreciation (attach schedule) bullet445,237 4,695,237 Click to see attachment4,666,836 4,666,836
12 Investments—mortgage loans............. 528,437 0 0
13 Investments—other (attach schedule).......... 86,713,826 Click to see attachment107,893,503 110,952,101
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) 131,399,867 124,369,019 127,626,737
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........ 6,398,570 6,398,570
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 125,001,297 117,970,449
29 Total net assets or fund balances (see instructions)..... 131,399,867 124,369,019
30 Total liabilities and net assets/fund balances (see instructions). 131,399,867 124,369,019
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
131,399,867
2
Enter amount from Part I, line 27a .....................
2
-7,030,848
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
124,369,019
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
124,369,019
Form 990-PF (2021)
Form 990-PF (2021)
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      
b FROM K-1: STRATEGIC US EQUITY TRUST P    
c FROM K-1: STRATEGIC GLOBAL EQUITY TRUST P    
d FROM K-1: STRATEGIC EMERGING MARKETS EQUITY TRUST P    
e FROM K-1: LEGACY VII P    
FROM K-1: LEGACY IX P    
FROM K-1: LEGACY X P    
FROM K-1: BHMS HIGH YIELD P    
FROM K-1: BHMS BANK LOAN FUND P    
FROM K-1: STRATEGIC DEVELOPED MARKETS EX-US EQUITY TRUST P    
REALIZED LOSS FROM FUTURES CONTRACTS 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 138,019,215   140,129,444 -2,110,229
b       939,006
c       414,944
d       -313,325
e       553,459
      94,301
      612
      81,107
      46,764
      344,681
    1,410,200 -1,410,200
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       -2,110,229
b       939,006
c       414,944
d       -313,325
e       553,459
      94,301
      612
      81,107
      46,764
      344,681
      -1,410,200
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 -1,358,880
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  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
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 All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) 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 0
3 Add lines 1 and 2........................... 3 17,273
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 17,273
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 226,231
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 100,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 326,231
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  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 308,958
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet308,958 RefundedBullet 11 0
Part VI-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 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
 
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
 
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.
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 XIV..................................
    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 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    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 (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-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
    Yes
     
    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 ofbulletANDREA CARR Telephone no.bullet (808) 436-8975

    Located atbulletPO BOX 30685HONOLULUHI ZIP+4bullet96820
    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 2021, 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 VI-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? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
     
    No
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
    Yes
     
    (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)? ......................
    1a(5)
     
    No
    (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.) ...............
    1a(6)
     
    No
    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
    c
    ........bullet
    d
    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 2021? .............
    1d
     
    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 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    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? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 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 2021.) .....................
    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 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-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))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
     
    No
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    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
     
     
    c
    .........bullet
    d
    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? .................
    5d
     
     
    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? .............................
    6a
     
    No
    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?
    7a
     
    No
    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? .........................
    8
     
    No
    Part VII
    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
    GLORIA GAINSLEY DIRECTOR
    0.00     		0 0 0
    C/O 766 POHUKAINA STREET
    HONOLULU,HI96813
    PAUL J KOSASA PRES/TREAS/DIRECTOR
    0.00     		0 0 0
    C/O 766 POHUKAINA STREET
    HONOLULU,HI96813
    SUSAN M KOSASA VP/SECY/DIREC
    0.00     		0 0 0
    C/O 766 POHUKAINA STREET
    HONOLULU,HI96813
    THOMAS S KOSASA DIRECTOR
    0.00     		0 0 0
    C/O 766 POHUKAINA STREET
    HONOLULU,HI96813
    TRACY IDE INDEPENDENT DIRECTOR
    0.00     		0 0 0
    C/O 766 POHUKAINA STREET
    HONOLULU,HI96813
    RIKI MORIMOTO INDEPENDENT DIRECTOR
    0.00     		0 0 0
    C/O 766 POHUKAINA STREET
    HONOLULU,HI96813
    CHRISTINE VAN BERGEIJK EXECUTIVE DIRECTOR
    40.00     		27,521 0 0
    C/O 766 POHUKAINA STREET
    HONOLULU,HI96813
    LINDSAY KOSASA DIRECTOR
    0.00     		0 0 0
    C/O 766 POHUKAINA STREET
    HONOLULU,HI96813
    IAN KOSASA DIRECTOR
    0.00     		0 0 0
    C/O 766 POHUKAINA 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
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    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
    STRATEGIC INVESTMENT GROUP INVESTMENT ADVISING 391,755
    1001 19TH ST N FL 16
    ARLINGTON,VA22209
    DENNIS R SUGINO DBA KANSA ADVISORY LLC INVESTMENT ADVISING 97,778
    19432 FOXDALE CIR
    HUNTINGTON BEACH,CA92648
    BARROW HANLEY MEWHINNEY & STRAUSS LLC INVESTMENT ADVISING 56,263
    2200 ROSS AVENUE FL 31
    DALLAS,TX75201
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part VIII-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 N/A 0
    2  
    3  
    4  
    Part VIII-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 Click to see attachment 0
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    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
    37,223,248
    b
    Average of monthly cash balances.......................
    1b
    1,001,647
    c
    Fair market value of all other assets (see instructions)................
    1c
    102,582,572
    d
    Total (add lines 1a, b, and c).........................
    1d
    140,807,467
    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
    140,807,467
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    2,112,112
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    138,695,355
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    6,934,768
    Part X
    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 IX, line 6..................
    1
    6,934,768
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    17,273
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    17,273
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    6,917,495
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    6,917,495
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    6,917,495
    Part XI
    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
     
    b
    Program-related investments—total from Part VIII-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    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 XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7 6,917,495
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 5,938,481
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016......  
    b From 2017......  
    c From 2018......  
    d From 2019......  
    e From 2020......  
    f Total of lines 3a through e ........ 0
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 6,740,135
    a Applied to 2020, but not more than line 2a 5,938,481
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2021 distributable amount..... 801,654
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021. 0 0
    (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 0
    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......     		0
    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 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		6,115,841
    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) .......     		0
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2017....  
    b Excess from 2018....  
    c Excess from 2019....  
    d Excess from 2020....  
    e Excess from 2021....  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-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 2021, 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) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    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 IX, 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 XIV
    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 e-mail address of the person to whom applications should be addressed:
    PAUL KOSASA-THE KOSASA FOUNDATION
    766 POHUKAINA STREET
    HONOLULU,HI96813
    (808) 591-2550
    bThe form in which applications should be submitted and information and materials they should include:
    LETTER
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    FOR CHARITABLE, EDUCATIONAL, LITERARY, SCIENTIFIC AND RELIGIOUS PURPOSES EITHER DIRECTLY OR BY CONTRIBUTIONS TO ORGANIZATIONS UNDER IRC SECTION 501(C)(3) OF 1986, OR CORRESPONDING PROVISIONS OF ANY SUBSEQUENT FEDERAL TAX LAW.
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    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
    808 CLEANUPS
    PO BOX 240341
    HONOLULU,HI968240341     		N/A PC GENERAL OPERATING FUNDS 50,000
    ALLIANCE FOR DRAMA EDUCATION
    2700 S KING ST 11966 808 220-5003
    HONOLULU,HI96826     		N/A PC GENERAL OPERATING FUNDS 26,000
    ALOHA HARVEST
    3599 WAIALAE AVE STE 23
    HONOLULU,HI96816     		N/A PC OPERATING SUPPORT 20,000
    ALOHA INTERNATIONAL PIANO FESTIVAL
    1325 AUPAPAOHE ST
    KAILUA,HI96734     		N/A PC 2022 INAUGURAL KE'ALOHI INTERNATIONAL PIANO COMPETITION 10,000
    ASSISTANCE DOGS OF HAWAII
    PO BOX 1803
    MAKAWAO,HI96768     		N/A PC HOSPITAL FACILITY DOG PROGRAM 10,000
    BIG BROTHERS BIG SISTERS HAWAII INC
    2119 N KING STREET SUITE 202
    HONOLULU,HI96819     		N/A PC GENERAL SUPPORT 15,000
    BLOOD BANK OF HAWAII
    2043 DILLINGHAM BLVD
    HONOLULU,HI968194024     		N/A PC CAPITAL CAMPAIGN 500,000
    CHAMBER MUSIC HAWAII
    PO BOX 61939
    HONOLULU,HI96839     		N/A PC UNRESTRICTED OPERATING COSTS 10,000
    CHAMINADE UNIVERSITY OF HONOLULU
    3140 WAIALAE AVE
    HONOLULU,HI96816     		N/A PC EMERGING SCHOLARS PILOT - PROGRAM/EARLY COLLEGE PREP - KAUAI 25,000
    COMMUNITY EMPOWERMENT RESOURCES
    1110 UNIVERSITY AVE STE 411
    HONOLULU,HI96826     		N/A PC PURCHASE OF OUTDOOR GAZEBO/COVERED STRUCTURE 5,000
    COMPASSION AND CHOICES
    101 SW MADISON S5 8009
    PORTLAND,OR972022118     		N/A PC GENERAL SUPPORT 10,000
    CORAL REEF ALLIANCE
    1330 BROADWAY SUITE 600
    OAKLAND,CA94612     		N/A PC CORAL REEF ALLIANCE'S HAWAI'I PROGRAM -CONSERV&RESEARCH 10,000
    DREAMHOUSE INC
    91-1245 FRANKLLIN D ROOSEVELT
    AVENUE - A
    KALAELOA,HI96707     		N/A PC OPERATING EXPENSES 20,000
    EBB & FLOW ARTS
    PO BOX 1081
    KULA,HI96790     		N/A PC OPERATING COSTS 5,000
    FRIENDS OF THE FUTURE
    PO BOX 2655
    KAMUELA,HI96743     		N/A PC TUTU'S HOUSE PROGRAM 30,000
    FRIENDS OF WAIPAHU HIGH SCHOOL
    PO BOX 971363
    WAIPAHU,HI96797     		N/A PC ACADEMY OF HEALTH SCIENCES 50,000
    FRIENDS OF WAIPAHU HIGH SCHOOL
    PO BOX 971363
    WAIPAHU,HI96797     		N/A PC CULINARY ARTS MARAUDER CAFE 10,000
    GIRL SCOUTS OF HAWAII
    410 ATKINSON DR STE 2E1 BOX 3
    HONOLULU,HI96814     		N/A PC AFTER SCHOOL LEADERSHIP PROGRAM 30,000
    GOODWILL INDUSTRIES OF HAWAII INC
    2610 KILIHAU ST
    HONOLULU,HI96819     		N/A PC CIP - BERETANIA CAREER & LEARNING CENTER 50,000
    HANA ARTS INC
    PO BOX 686
    HANA,HI96713     		N/A PC HANA ARTS ACADEMY PROGRAM 15,000
    HAWAI'I CHILDRENS ACTION NETWORK
    850 RICHARDS ST SUITE 201
    HONOLULU,HI96813     		N/A PC SUPPORT FOR EARLY EDUCATION & FOOD SECURITY FOR CHILDREN 5,000
    HAWAII CORD BLOOD BANK
    1319 PUNAHOU ST
    HONOLULU,HI96826     		N/A PC GENERAL OPERATING EXPENSES 100,000
    HAWAI'I ENVIRONMENTAL RESTORATION
    PO BOX 1028
    PAHOA,HI96778     		N/A PC RESTORATION AND PRESERVATION OF KEAUOHANA FOREST RESERVE 10,000
    HAWAII FOODBANK
    2611 KILIHAU ST
    HONOLULU,HI96819     		N/A PC FOOD PURCHASE 30,000
    HAWAII FOREST INSTITUTE
    PO BOX 66
    OOKALA,HI96774     		N/A PC GO NATIVE PROJECT - PRINTING OF GROWER'S GUIDE BOOKS 15,000
    HAWAII INTERNATIONAL FILM FESTIVAL
    680 IWILEI ROAD SUITE 100 808
    561-4957
    HONOLULU,HI96817     		N/A PC EDUCATIONAL PROGRAMS 20,000
    HAWAII LAND TRUST
    126 QUEEN ST STE 306
    HONOLULU,HI96813     		N/A PC OPERATING COSTS 20,000
    HAWAII OPERA THEATRE
    848 S BERETANIA ST SUITE 301
    HONOLULU,HI96813     		N/A PC SUPPORT OF PRODUCTION THE SECRET GARDEN 15,000
    HAWAII PACIFIC HEALTH
    55 MERCHANT ST SUITE 2600
    HONOLULU,HI96813     		N/A PC SEX ABUSE TREATMENT CENTER 50,000
    HAWAII PUBLIC RADIO
    738 KAHEKA STREET
    HONOLULU,HI96814     		N/A PC PROGRAMMING AND OPERATIONS 25,000
    HAWAII SYMPHONY ORCHESTRA
    3610 WAIALAE AVENUE
    HONOLULU,HI96816     		N/A PC GENERAL OPERATING FUNDS 50,000
    HAWAII THEATRE CENTER
    1130 BETHEL ST
    HONOLULU,HI96813     		N/A PC EDUCATION PROGRAMS 20,000
    HAWAII YOUTH SYMPHONY ASSOCIATION
    1110 UNIVERSITY AVE STE 200
    HONOLULU,HI968261598     		N/A PC GENERAL OPERATIONS 35,000
    HELPING HANDS HAWAII
    2100 N NIMITZ HWY
    HONOLULU,HI96819     		N/A PC OPERATION EXPENSES 10,000
    HOA AINA O MAKAHA
    84-225 NAAUAO PLACE
    WAIANAE,HI96792     		N/A PC OPERATING COSTS 10,000
    HONOLULU CIVIL BEAT INC
    3465 WAIALAE AVE STE 200
    HONOLULU,HI96816     		N/A PC GENERAL SUPPORT 10,000
    HOOLA NA PUA
    PO BOX 22551
    HONOLULU,HI96823     		N/A PC CIP - RESIDENTIAL THERAPEUTIC CAMPUS 75,000
    HUI MALAMA O KE KAI FOUNDATION
    41-477 HIHIMANU ST
    WAIMANALO,HI96795     		N/A PC STAFF AND OPERATING EXPENSES 25,000
    IMUA FAMILY SERVICES
    161 S WAKEA AVE
    KAHULUI,HI96732     		N/A PC CAPITAL CAMPAIGN - IMUA DISCOVERY GARDEN FOR IMUA PAVILION NAMING - $250,000 OVER 3 YEARS 100,000
    ISLAND PACIFIC ACADEMY INC
    909 HAUMEA ST
    KAPOLEI,HI96707     		N/A PC FINANCIAL AID PROGRAM 15,000
    ISLAND SCHOOL
    3-1875 KAUMUALII HWY
    LIHUE,HI96766     		N/A PC CAPITAL CAMPAIGN - NEW CLASSROOM BUILDING PROJECT 50,000
    JAPAN AMERICA SOCIETY OF HAWAII
    1600 KAPIOLANI BLVD 204
    HONOLULU,HI968143878     		N/A PC WIZARD COMPETITION 5,000
    JAPANESE AMERICAN NATIONAL MUSEUM
    100 N CENTRAL AVE
    LOS ANGELES,CA90012     		N/A PC REAFIRMED COMMITMENT: THE 30TH ANNIVERSARY OF THE CIVIL LIBERTIES ACT OF 1088 DISPLAY 250,000
    KAHILU THEATRE FOUNDATION
    67-1186 LINDSEY RD
    KAMUELA,HI96743     		N/A PC UNRESTRICTED FUNDS 25,000
    KAMP HAWAII
    PO BOX 701022
    KAPOLEI,HI96709     		N/A PC GENERAL OPERATING EXPENSES FOR YOUTH-MENTORING PROGRAMS 50,000
    KEALAKAI CENTER FOR PACIFIC STRINGS
    150 HAMAKUA DR PMB 831
    KAILUA,HI96734     		N/A PC UNRESTRICTED FUNDS 50,000
    KUAKINI MEDICAL CENTER
    347 N KUAKINI ST
    HONOLULU,HI96817     		N/A PC UNRESTRICTED FUNDS 750,000
    KUMU KAHUA THEATRE
    46 MERCHANT ST
    HONOLULU,HI96813     		N/A PC OPERATING EXPENSES 10,000
    KUPU
    677 ALA MOANA BLVD SUITE 1200
    HONOLULU,HI96813     		N/A PC UNRESTRICTED FUNDS 10,000
    LAWAKUA CHARITABLE FUND
    737 BISHOP ST STE 1875
    HONOLULU,HI96813     		N/A PC KAJUKENBO TRAINING TO UNDERPRIVILEDGED KIDS 25,000
    MAKE-A-WISH FOUNDATION OF HAWAII INC
    223 S KING STSUITE100
    HONOLULU,HI96813     		N/A PC GENERAL SUPPORT 10,000
    MALAAI
    PO BOX 543
    KAMUELA,HI96743     		N/A PC GEN OP. EXP FOR HAWAII ISLAND SCHOOL GARDEN NETWORK 16,000
    MANOA HERITAGE CENTER
    2856 OAHU AVE
    HONOLULU,HI96822     		N/A PC PROGRAM DEVELOPMENT 25,000
    MANOA VALLEY THEATRE
    2833 EAST MANOA ROAD
    HONOLULU,HI96822     		N/A PC MAINSTAGE SEASON AND MUSIC & COMEDY SERIES 10,000
    MA'O ORGANIC FARMS
    PO BOX 441
    WAIANAE,HI96792     		N/A PC UNRESTRICTED GRANT 100,000
    MAUI ARTS & CULTURAL CENTER
    ONE CAMERON WAY
    KAHULUI,HI96732     		N/A PC EDUCATIONAL PROGRAMMING 15,000
    MENTAL HEALTH AMERICA OF HAWAII
    1136 UNION MALL SUITE 208
    HONOLULU,HI96813     		N/A PC MENTAL HEALTH TRAINING AND EDUCATION PROGRAM 50,000
    MID-PACIFIC INSTITUTE
    2445 KAALA ST
    HONOLULU,HI96822     		N/A PC CAPITAL CAMPAIGN - TRANSFORMING DINING HALL 50,000
    MID-PACIFIC INSTITUTE
    2445 KAALA ST
    HONOLULU,HI96822     		N/A PC CAPITAL CAMPAIGN 1,000,000
    NISEI VETERANS LEGACY CENTER INC
    2454 S BERETANIA ST STE 302
    HONOLULU,HI96826     		N/A PC GENERAL SUPPORT 20,000
    NISEI VETERANS MEMORIAL CENTER
    PO BOX 216
    KAHULUI,HI967336716     		N/A PC SUPPORT OF PROGRAMMING 20,000
    NORTH KOHALA COMMUNITY RESOURCE CNTR
    PO BOX 519
    HAWI,HI96719     		N/A PC MAUKA TO MAKAI SUMMER CAMP 10,000
    NUUANU CONGREGATIONAL CHURCH
    2651 PALI HIGHWAY
    HONOLULU,HI96817     		N/A PC RENOVATIONS TO KIBO KAN BUILDING 1,000,000
    NUUANU CONGREGATIONAL CHURCH
    2651 PALI HIGHWAY
    HONOLULU,HI96817     		N/A PC GENERAL SUPPORT - PERPETUALPLEDGE OF $5,000/YEAR 5,000
    OAHU SPCA
    115 LEHUA ST SUITE 861673
    WAHIAWA,HI96786     		N/A PC STERILIZATION/WELLNESS CLINIC & SHELTER FACILILTY 25,000
    OHANA KOMPUTER
    1516 AVON WAY
    HONOLULU,HI96822     		N/A PC ON-LINE EDUCATION & TRAINING CURRICULUM 15,000
    PACIFIC AND ASIAN AFFAIRS COUNCIL
    1601 EAST WEST ROAD 4TH FL
    HONOLULU,HI96848     		N/A PC HIGH SCHOOL GLOBAL EDUCATION OUTREACH PROGRAMS 5,000
    PALAMA SETTLEMENT
    810 N VINEYARD BOULEVARD
    HONOLULU,HI96817     		N/A PC BLACKFIELD SCHOLARSHIP FUND - 2022: $15,000, 15,000
    PBS HAWAII
    315 SAND ISLAND ACCESS ROAD
    HONOLULU,HI96819     		N/A PC HIKI NO PROGRAM - 2022: $100,000 100,000
    PROTECT & PRESERVE HAWAII INC
    623 ANALU ST UNIT A
    HONOLULU,HI96817     		N/A PC GENERAL OPERATING EXPENSES 5,000
    REHAB HOSPITAL FOUNDATION
    226 NORTH KUAKINI STREET
    HONOLULU,HI96817     		N/A PC UNRESTRICTED FUNDS 100,000
    RE-USE HAWAII
    200 KEAWE ST
    HONOLULU,HI96813     		N/A PC UNRESTRICTED FUNDS 30,000
    SACRED HEARTS ACADEMY
    3253 WAIALAE AVE
    HONOLULU,HI96816     		N/A PC CAPITAL CAMPAIGN - RENOVATIONS OF CAMPUS FACILITIES 50,000
    SHRINERS HOSPITAL FOR CHILDREN - HONOLULU
    1310 PUNAHOU ST
    HONOLULU,HI968261099     		N/A PC TECH SUPPORT - SOFTWARE AND HARDWARE SYSTEM UPGRADE 16,000
    SPECIAL OLYMPICS HAWAII INC
    91-610 MAUNAKAPU ST
    EWA BEACH,HI96706     		N/A PC CAPITAL CAMPAIGN 100,000
    ST ANDREWS PRIORY
    224 QUEEN EMMA SQUARE
    HONOLULU,HI96813     		N/A PC CHOIR & MUSIC ROOM RENOVATION: $150,000; PROF. VIDEOGRAPHY & SPECIAL PROGRAMS $25,000 175,000
    TEACH FOR AMERICA
    500 ALA MOANA BLVD SUITE 3-580
    HONOLULU,HI96813     		N/A PC GENERAL OPERATING EXPENSES 50,000
    THE MEDIATION CENTER OF THE PACIFIC INC
    1301 YOUNG STREET
    HONOLULU,HI96814     		N/A PC DOMESTIC MEDIATION, HOUSING & KUPUNA PONO PROGRAM 50,000
    THE SALVATION ARMY
    P O BOX 620
    HONOLULU,HI968090620     		N/A PC SUPPORT ADDITION TREATMENT SERVICES 20,000
    THE TRUST FOR PUBLIC LANDS
    1164 BISHOP STSUITE 1512
    HONOLULU,HI96813     		N/A PC SUPPORT 'A'ALA PARK'S PUBLIC ART ACTIVATION PROJECT 10,000
    UNIVERSITY OF HAWAII FOUNDATION
    1314 SOUTH KING STREET SUITE B
    HONOLULU,HI96814     		N/A PC CIP AT DIAMOND HEAD 300,000
    VISITOR ALOHA SOCIETY OF HAWAII
    2250 KALAKAUA AVE STE 403-3
    HONOLULU,HI96815     		N/A PC STAFFING EXPANSION PROGRAM 15,000
    WAIKIKI BUSINESS IMPROVEMENT DISTRICT ASSOCIATION
    WYNDHAMWAIKIKIBEACHWALK PLANTATIONT
    WER2NDFL 227 LEWERSST BOX202
    HONOLULU,HI96815     		N/A PC OPERATING EXPENSES FOR CRIME REDUCTION 100,000
    WAIKIKI HEALTH
    277 OHUA AVE
    HONOLULU,HI96815     		N/A PC PUUHONUA PRISON PROGRAM OPERATING EXPENSES 10,000
    WCRC
    WCRC - MAO ORGANIC FARMS PO BOX 441
    WAIANAE,HI96792     		N/A PC GENERAL SUPPORT / CAPITAL CAMPAIGN 100,000
    YMCA OF HONOLULU
    1441 PALI HIGHWAY
    HONOLULU,HI96813     		N/A PC WAIANAE YMCA CIP 300,000
    Total .................................bullet 3a 6,688,000
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-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 5,974  
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......     16 136,934  
    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 ............     		    14 -1,358,880  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 650 927,723 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    928,373
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-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 XV-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 (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    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 (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2021 AccountingFeesSchedule
    Name:
    THE KOSASA FOUNDATION
    EIN:
    99-0313279
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 31,806 22,264   9,542

    TY 2021 AllOthProgRltdInvestmentsSch
    Name:
    THE KOSASA FOUNDATION
    EIN:
    99-0313279
    Category Amount
    NONE 0

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

    TY 2021 DepreciationSchedule
    Name:
    THE KOSASA FOUNDATION
    EIN:
    99-0313279
    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
    APPLIANCE - 1333 10TH AVE 2015-01-01 639 312 200DB 5.000000000000 0 0    
    APPLIANCE - WATER HEATER - 1416-1420 10TH AVE 2015-07-01 1,120 548 200DB 5.000000000000 0 0    
    APPLIANCE - 1339-C 10TH AVE-REFRIGERATOR 2016-09-29 503 242 200DB 5.000000000000 9 9    
    APPLIANCE - 1333 10TH AVE-REFRIGERATOR 2016-01-25 696 348 200DB 5.000000000000 0 0    
    APPLIANCE - 1424 10TH AVE-REFRIGERATOR 2016-07-12 644 322 200DB 5.000000000000 0 0    
    RENOVATIONS - 1416-1420 10TH AVE 2016-05-03 7,592 1,438 SL 27.500000000000 276 276    
    RENOVATIONS - 3468 HARDESTY 2016-07-13 9,729 1,785 SL 27.500000000000 354 354    
    APPLIANCE - 3477 HARDESTY-OVEN 2016-01-11 522 261 200DB 5.000000000000 0 0    
    ROOFING - 1333 10TH AVE 2017-07-17 3,084 452 SL 27.500000000000 112 112    
    APPLIANCE - 3471 HARDESTRY 2014-01-01 523 261 200DB 5.000000000000 0 0    
    APPLIANCE - WATER HEATER -1339 10TH AVE 2017-09-15 1,099 472 200DB 5.000000000000 51 51    
    APPLIANCE - 1420 10TH AVE 2014-08-01 523 261 200DB 5.000000000000 0 0    
    APPLIANCE - 1333 10TH AVE 2014-08-01 523 261 200DB 5.000000000000 0 0    
    APPLIANCE - 1333 10TH AVE 2014-01-01 523 261 200DB 5.000000000000 0 0    
    RENOVATIONS - 3468 HARDESTY 2013-06-01 2,590 764 SL 27.500000000000 94 94    
    RENOVATIONS - 1416 10TH AVE 2013-06-01 800 236 SL 27.500000000000 29 29    
    ROOFING - HARDESTY 2013-08-01 12,740 3,685 SL 27.500000000000 463 463    
    APPLIANCE - 1333 10TH AVE 2013-06-01 555 277 200DB 5.000000000000 0 0    
    ROOFING - HARDESTY 2013-08-01 8,100 2,347 SL 27.500000000000 295 295    
    ROOFING - 1420 10TH AVE 2013-04-01 15,240 4,594 SL 27.500000000000 554 554    
    ROOFING - 1333 10TH AVE 2013-07-01 21,080 6,161 SL 27.500000000000 767 767    
    SK - RANGE/OVEN - 1416 10TH AVE 2008-03-01 711 355 200DB 5.000000000000 0 0    
    SK - WATER HEATER - 1333 10TH AVE 2008-02-01 753 376 200DB 5.000000000000 0 0    
    SK - CONSTRUCTION - 1416 10TH AVE 2008-06-01 7,547 3,597 SL 27.500000000000 274 274    
    SK - CONSTRUCTION - 1416 10TH AVE 2008-05-01 7,837 3,764 SL 27.500000000000 285 285    
    SK - CONSTRUCTION - 3468 HARDESTY 2008-11-01 3,613 1,665 SL 27.500000000000 131 131    
    SK - PRINTER 2007-06-30 314 314 200DB 5.000000000000 0 0    
    SK - APPLIANCES - 3471 & 3477 HARDESTY 2007-06-30 672 672 200DB 5.000000000000 0 0    
    SK - FLOORING 2007-06-30 1,571 1,571 200DB 5.000000000000 0 0    
    SK - APPLIANCES - 10TH AVE 2007-06-30 1,303 1,303 200DB 5.000000000000 0 0    
    SK - LAND 2006-11-17 2,818,547   L   0 0    
    SK - BUILDING 2006-11-17 916,840 355,628 SL 39.000000000000 23,509 23,509    
    SK - APPLIANCES - 10TH AVE 3468 & 3471 HARDESTY 2009-06-30 4,897 2,448 200DB 5.000000000000 0 0    
    SEC. 754 LAND - MINNIE KOSASA TRUST 2018-03-23 836,184   L   0 0    
    SEC. 754 LAND - ESTATE TRUST 2018-03-23 390,725   L   0 0    
    APPLIANCE 2012-06-30 512 255 200DB 5.000000000000 0 0    
    ROOFING - HARDESTY 2012-06-30 540 182 SL 27.500000000000 20 20    
    FLOORING - HARDESTY 2011-09-01 650   200DB 5.000000000000 0 0    
    ROOFING - HARDESTY 2011-02-01 1,100 418 SL 27.500000000000 40 40    
    ROOFING - 1420 10TH AVE 2011-02-01 1,316 502 SL 27.500000000000 48 48    
    APPLIANCE - WATER HEATER - 1333 10TH AVE 2011-05-01 308   200DB 5.000000000000 0 0    
    PAINTING - 1333 10TH AVE 2011-08-01 2,700 976 SL 27.500000000000 98 98    
    ROOFING - 1333 10TH AVE 2011-02-01 2,000 763 SL 27.500000000000 73 73    
    APPLIANCE - WATER HEATER -1416 10TH AVE 2017-09-15 1,173 504 200DB 5.000000000000 55 55    
    CONCRETE SLAB - 3468 HARDESTY 2019-01-01 7,016 648 SL 27.500000000000 255 255    
    PAINTING 2010-06-30 5,676 2,292 SL 27.500000000000 206 206    
    APPLIANCE 2010-06-30 1,444 722 200DB 5.000000000000 0 0    
    RENOVATIONS 2010-06-30 7,299 2,949 SL 27.500000000000 265 265    

    TY 2021 GeneralExplanationAttachment
    Name:
    THE KOSASA FOUNDATION
    EIN:
    99-0313279
    Identifier Return Reference Explanation
    SECTION 512(B)(13) CONTROLLED ENTITY 990-PF, PART VII-A, LINE 11 INCLUDED SCHEDULE OF CONTROLLED ENTITIES ATTACHMENT AS NOTED IN IRS INSTRUCTIONS FOR FORM 990-PF, PART VII-A, LINE 11.NAME OF CONTROLLED ENTITY:SIDKO OHANA PROPERTIES, LLCADDRESS:766 POHUKAINA STREETHONOLULU, HI 96813EMPLOYER ID NUMBER:27-1328421EXCESS BUSINESS HOLDING:NO

    TY 2021 InvestmentsGovtObligationsSch
    Name:
    THE KOSASA FOUNDATION
    EIN:
    99-0313279
    US Government Securities - End of Year Book Value:

    10,626,443
    US Government Securities - End of Year Fair Market Value:

    10,825,563
    State & Local Government Securities - End of Year Book Value:


    0
    State & Local Government Securities - End of Year Fair Market Value:


    0


    TY 2021 InvestmentsLandSchedule2
    Name:
    THE KOSASA FOUNDATION
    EIN:
    99-0313279
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    APPLIANCE - 1333 10TH AVE 639 632 7  
    APPLIANCE - WATER HEATER - 1416-1420 10TH AVE 1,120 1,108 12  
    APPLIANCE - 1339-C 10TH AVE-REFRIGERATOR 503 503 0  
    APPLIANCE - 1333 10TH AVE-REFRIGERATOR 696 696 0  
    APPLIANCE - 1424 10TH AVE-REFRIGERATOR 644 644 0  
    RENOVATIONS - 1416-1420 10TH AVE 7,592 1,714 5,878  
    RENOVATIONS - 3468 HARDESTY 9,729 2,139 7,590  
    APPLIANCE - 3477 HARDESTY-OVEN 522 522 0  
    ROOFING - 1333 10TH AVE 3,084 564 2,520  
    APPLIANCE - 3471 HARDESTRY 523 523 0  
    APPLIANCE - WATER HEATER -1339 10TH AVE 1,099 1,073 26  
    APPLIANCE - 1420 10TH AVE 523 523 0  
    APPLIANCE - 1333 10TH AVE 523 523 0  
    APPLIANCE - 1333 10TH AVE 523 523 0  
    RENOVATIONS - 3468 HARDESTY 2,590 858 1,732  
    RENOVATIONS - 1416 10TH AVE 800 265 535  
    ROOFING - HARDESTY 12,740 4,148 8,592  
    APPLIANCE - 1333 10TH AVE 555 555 0  
    ROOFING - HARDESTY 8,100 2,642 5,458  
    ROOFING - 1420 10TH AVE 15,240 5,148 10,092  
    ROOFING - 1333 10TH AVE 21,080 6,928 14,152  
    SK - RANGE/OVEN - 1416 10TH AVE 711 711 0  
    SK - WATER HEATER - 1333 10TH AVE 753 753 0  
    SK - CONSTRUCTION - 1416 10TH AVE 7,547 3,871 3,676  
    SK - CONSTRUCTION - 1416 10TH AVE 7,837 4,049 3,788  
    SK - CONSTRUCTION - 3468 HARDESTY 3,613 1,796 1,817  
    SK - PRINTER 314 314 0  
    SK - APPLIANCES - 3471 & 3477 HARDESTY 672 672 0  
    SK - FLOORING 1,571 1,571 0  
    SK - APPLIANCES - 10TH AVE 1,303 1,303 0  
    SK - LAND 2,818,547 0 2,818,547  
    SK - BUILDING 916,840 379,137 537,703  
    SK - APPLIANCES - 10TH AVE 3468 & 3471 HARDESTY 4,897 4,897 0  
    SEC. 754 LAND - MINNIE KOSASA TRUST 836,184 0 836,184  
    SEC. 754 LAND - ESTATE TRUST 390,725 0 390,725  
    APPLIANCE 512 511 1  
    ROOFING - HARDESTY 540 202 338  
    FLOORING - HARDESTY 650 650 0  
    ROOFING - HARDESTY 1,100 458 642  
    ROOFING - 1420 10TH AVE 1,316 550 766  
    APPLIANCE - WATER HEATER - 1333 10TH AVE 308 308 0  
    PAINTING - 1333 10TH AVE 2,700 1,074 1,626  
    ROOFING - 1333 10TH AVE 2,000 836 1,164  
    APPLIANCE - WATER HEATER -1416 10TH AVE 1,173 1,146 27  
    CONCRETE SLAB - 3468 HARDESTY 7,016 903 6,113  
    PAINTING 5,676 2,498 3,178  
    APPLIANCE 1,444 1,444 0  
    RENOVATIONS 7,299 3,214 4,085  

    TY 2021 InvestmentsOtherSchedule2
    Name:
    THE KOSASA FOUNDATION
    EIN:
    99-0313279
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    BHMS FUNDS AT COST 30,717,447 30,915,363
    ASSETS ACQUIRED FROM HONOLULU SYMPHONY AT COST 171,347 171,347
    STRATEGIC INVESTMENT GROUP FUNDS AT COST 72,207,290 71,678,888
    HILDENE OPPORTUNITIES OFFSHORE FUND AT COST 699,115 811,431
    LEGACY VENTURE INVESTMENTS (VII, IX, X & XI) AT COST 2,087,225 5,293,500
    CAPITALIZED IMPROVEMENTS AT COST 103,189 103,189
    BAYVIEW MSR OPPORTUNITY OFFSHORE LP AT COST 642,208 663,623
    LENDING VIII LLC AT COST 203,551 207,666
    ARCM FEEDER FUND IV LTD AT COST 780,000 824,963
    STRATEGIC BUYOUT FD LP AT COST 282,131 282,131

    TY 2021 LegalFeesSchedule
    Name:
    THE KOSASA FOUNDATION
    EIN:
    99-0313279
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 6,794 0   6,794


    TY 2021 OtherExpensesSchedule
    Name:
    THE KOSASA FOUNDATION
    EIN:
    99-0313279
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER MISCELLANEOUS EXPENSES 3,967 540   3,427
    CLEANING & MAINTENANCE 7,395 7,395   0
    PEST CONTROL 628 628   0
    MANAGEMENT FEES 23,446 23,446   0
    REPAIRS 19,304 19,304   0
    UTILITIES 19,697 19,697   0
    REAL PROPERTY INSURANCE 14,379 14,379   0


    TY 2021 OtherIncomeSchedule2
    Name:
    THE KOSASA FOUNDATION
    EIN:
    99-0313279
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    PASSTHROUGH INCOME FROM K-1S 420,089 419,439 420,089
    OTHER INVESTMENT INCOME 1,187 1,187 1,187


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    THE KOSASA FOUNDATION
    EIN:
    99-0313279
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 595,115 595,115   0
    FROM K-1: PORTFOLIO DEDUCTIONS 270,796 270,527   269


    TY 2021 TaxesSchedule
    Name:
    THE KOSASA FOUNDATION
    EIN:
    99-0313279
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL EXCISE TAX 175,000 0   0
    FOREIGN TAX 76,464 76,464   0
    PAYROLL TAX 1,838 0   1,838
    RENTAL GENERAL EXCISE TAX 12,252 12,252   0
    REAL PROPERTY TAX 18,667 18,667   0