Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
For calendar year 2023, or tax year beginning 05-01-2023 , and ending 04-30-2024
Name of foundation
THE LAURENCE H DORCY HAWAIIAN FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)81 SEVENTH STREET EAST SUITE 125
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
ST PAUL, MN55101
A Employer identification number

46-2117762
B Telephone number (see instructions)

(651) 440-5068
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$28,404,669J 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)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 592,232 592,232  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 151,732
b Gross sales price for all assets on line 6a 1,843,683
7 Capital gain net income (from Part IV, line 2)... 151,732
8 Net short-term capital gain......... 0
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
List of Attached Documents:
// Content
2,281 2,281  
12 Total. Add lines 1 through 11........ 746,245 746,245  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages...... 52,104 0 0 52,104
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
2,500 0 0 2,500
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
112,045 89,636   22,409
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
12,827     0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings....... 16,058 0 0 16,058
22 Printing and publications.......... 341 0 0 341
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
13,047     13,047
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 208,922 89,636 0 106,459
25 Contributions, gifts, grants paid....... 970,000 970,000
26 Total expenses and disbursements. Add lines 24 and 25 1,178,922 89,636 0 1,076,459
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -432,677
b Net investment income (if negative, enter -0-) 656,609
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 1,809,772 1,058,298 1,058,298
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow     0 0
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
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) right arrow  
Less: allowance for doubtful accounts right arrow0      
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 9,588,817 Click to see attachment
List of Attached Documents:
// Content
8,943,097 		20,715,410
c Investments—corporate bonds (attach schedule)....... 6,038,597 Click to see attachment
List of Attached Documents:
// Content
7,001,372 		6,630,961
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........     0
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 17,437,186 17,002,767 28,404,669
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 right arrow)    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
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 right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 17,437,186 17,002,767
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 17,437,186 17,002,767
30 Total liabilities and net assets/fund balances (see instructions). 17,437,186 17,002,767
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
17,437,186
2
Enter amount from Part I, line 27a .....................
2
-432,677
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
5,567
4
Add lines 1, 2, and 3 ..........................
4
17,010,076
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
7,309
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
17,002,767
Form 990-PF (2023)
Form 990-PF (2023)
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 250000. PNC BANK NA 3.800% 7/25/23   2016-03-08 2023-07-25
b 500000. BANK OF NY MTN 2.200% 8/16/23   2016-10-18 2023-08-16
c 400. COSTCO WHSL CORP NEW COM   2017-02-15 2024-03-22
d 1732. MARATHON PETROLEUM CORP     2024-03-22
e 1500. MATCH GROUP INC NEW   2021-09-23 2024-03-22
1400. PAYPAL HOLDINGS INC   2021-09-23 2024-03-22
1204. CHUBB LTD     2024-03-22
(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 250,000   250,000  
b 500,000   496,480 3,520
c 294,894   69,888 225,006
d 345,752   78,212 267,540
e 53,557   232,103 -178,546
91,248   391,228 -299,980
308,232   174,040 134,192
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        
b       3,520
c       225,006
d       267,540
e       -178,546
      -299,980
      134,192
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 2 151,732
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
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 right arrow 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) 1 9,127
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 9,127
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 9,127
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 6,292
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 6,292
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 10
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 2,845
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow0 Refundedright arrow 11 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
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. right arrow$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
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:
round bullet By language in the governing instrument, or
round bullet 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)
right arrowHI
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 2023 or the taxable year beginning in 2023? 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
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 addressright arrow  
14
The books are in care ofright arrowTamra Davis Cownie Telephone no.right arrow (651) 440-5068

Located atright arrow81 SEVENTH STREET EAST SUITE 125ST PAULMN ZIP+4right arrow55101
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2023, 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 right arrow
Form 990-PF (2023)
Form 990-PF (2023)
Page 5
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
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
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 2023? .............
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 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 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.
right arrow20, 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 2023 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 2023.) .....................
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 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
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
Organizations relying on a current notice regarding disaster assistance check .........right arrow
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
JEFFREY T PETERSON PRESIDENT/DIRECTOR
2 		0    
21030 KAROLINE CT N
FOREST LAKE,MN55025
DAVID G BARRETT SECRETARY/DIRECTOR
1 		0    
1770 PINION HILLS DRIVE
CARSON CITY,NV89701
KILA DE MELLO DIRECTOR
1 		0    
82-6300 PUUHONUA ROAD
CAPTAIN COOK,HI96704
ISAAC D HALL ESQ DIRECTOR
1 		0    
170 EAST KUIAHA RD
HAIKU,HI96708
WILLIAM FERGUSON DIRECTOR
1 		0    
4355 S HIGH ST
CHERRY HILLS VILLAGE,CO80113
KELVIN TAKETA DIRECTOR
1 		0    
5089 MAUNALANI CIRCLE
HONOLULU,HI96816
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...................right arrow 0
Form 990-PF (2023)
Form 990-PF (2023)
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
U S BANK INVESTMENT MANAGEMEN 112,045
PO BOX 0634
MILWAUKEE,WI532010634
Total number of others receiving over $50,000 for professional services.............right arrow0
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  
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  
Total. Add lines 1 through 3.........................right arrow  
Form 990-PF (2023)
Form 990-PF (2023)
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
25,314,310
b
Average of monthly cash balances.......................
1b
2,191,427
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
27,505,737
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
27,505,737
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
412,586
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
27,093,151
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,354,658
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
1,354,658
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
9,127
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
9,127
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,345,531
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
1,345,531
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
1,345,531
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
1,076,459
b
Program-related investments—total from Part VIII-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 XII, line 4. .......
4
1,076,459
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2022 		(c)
2022 		(d)
2023
1 Distributable amount for 2023 from Part X, line 7 1,345,531
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 336,754
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 0
b From 2019...... 0
c From 2020...... 0
d From 2021...... 0
e From 2022...... 0
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 1,076,459
a Applied to 2022, but not more than line 2a 336,754
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 2023 distributable amount..... 739,705
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2023. 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 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		605,826
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 2018 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2019.... 0
b Excess from 2020.... 0
c Excess from 2021.... 0
d Excess from 2022.... 0
e Excess from 2023.... 0
Form 990-PF (2023)
Form 990-PF (2023)
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 2023, enter the date of the ruling ...... right arrow
 
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 IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
         
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).)
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 right arrow
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
Tamra Davis Cownie
81 Seventh Street East Suite 125
St Paul,MN55101
(651) 440-5068
bThe form in which applications should be submitted and information and materials they should include:
SEE ATTACHED
cAny submission deadlines:
SEE ATTACHED
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
SEE ATTACHED STATEMENT 15A
Form 990-PF (2023)
Form 990-PF (2023)
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

KIMOKEO FOUNDATION

95 MAHALANI ST SUITE 12
WAILUKU,HI96793 		NONE PC GENERAL OPERATING 15,000

HUGS FOR HAWAII'S SERIOUSLY ILL --

3636 KILAUEA AVE
HONOLULU,HI96816 		NONE PC GENERAL OPERATING 20,000

PACIFIC CANCER FOUNDATION

95 MAHALANI STREET STE B
WAILUKU,HI96793 		NONE PC GENERAL OPERATING 25,000

WOMEN HELPING WOMEN

1935 MAIN STREET SUITE 202
Wailuku,HI96793 		NONE PC GENERAL OPERATING 25,000

HAWAII FOOD BANK

2611 KILIHAU STREET
HONOLULU,HI96819 		NONE PC GENERAL OPERATING 25,000

KEALAKAI CENTER FOR PACIFIC STRINGS

150 HAMAKUA DRIVE PMB 831
KAILUA,HI96734 		NONE PC GENERAL OPERATING 25,000

FRIENDS OF THE D T FLEMING ARBORETUM

PO BOX 101
MAKAWAO,HI96768 		NONE PC GENERAL OPERATING 15,000

GOOD SHEPARD EPISCOPAL CHURCH

2140 MAIN ST
WAILUKU,HI96793 		NONE PC KA 'OHANA KITCHEN GEN OPS 10,000

WHEN WE SHINE

PO BOX 865
KULA,HI96790 		NONE PC GENERAL OPERATING 10,000

AMERICAN CANCER SOCIETY

PO BOX 11689
HONOLULU,HI96828 		NONE PC GENERAL OPERATING 25,000

MOLOKAI AFFORDABLE HOUSING ALLIANCE

55 NAIWA ROAD
HOOLEHUA,HI96729 		NONE PC GENERAL OPERATING 25,000

ASSISTANCE DOGS OF HAWAII

PO BOX 1803
MAKAWAO,HI96768 		NONE PC SADIE'S PLACE RENOVATIONS 50,000

UHIWAI O HALEAKALA

PO BOX 1056
MAKAWAO,HI96768 		NONE PC GENERAL OPERATING 25,000

US VETS HAWAII

91-1010 SHANGRILA ST SUITE 103
KAPOLEI,HI96707 		NONE PC GENERAL OPERATING 25,000

SEWING HUI

100 UAOA LOOP
HAIKU,HI96708 		NONE PC GENERAL OPERATING 10,000

MAUI AIDS FOUNDATION

1935 MAIN STREET SUITES 101 102
WAILUKU,HI96793 		NONE PC GENERAL OPERATING 20,000

MAUI UNITED WAY

95 MAHALANI STREET SUITE 24
WAILUKU,HI96793 		NONE PC GENERAL OPERATING 25,000

MAUI COMMUNITY BAND

PO BOX 330503
KAHULUI,HI967330503 		NONE PC GENERAL OPERATING 5,000

'A'ALI'I MENTORING

521 ALA MOANA BLVD SUITE M302
HONOLULU,HI96813 		NONE PC GENERAL OPERATING 5,000

PUKALANI ELEMENTARY SCHOOL

2945 IOLANI STREET
PUKALANI,HI96768 		NONE PC ROBOTICS PROGRAM OPERATING 15,000

AMVETS HAWAII

PO BOX 2865
EWA BEACH,HI96706 		NONE PC GENERAL OPERATING 20,000

HAWAII CHILDREN'S ACTION NETWORK

PO BOX 23198
HONOLULU,HI96823 		NONE PC GENERAL OPERATING 10,000

HAWAII ANIMAL KULEANA ALLIANCE

PO BOX 737
KEAAU,HI96749 		NONE PC GENERAL OPERATING 10,000

MAUI WAENA BAND BOOSTERS

795 ONEHEE AVENUE
KAHULUI,HI967321757 		NONE PC PURCHASE INSTRUMENTS 15,000

KOHALA ANIMAL RELOCATION AND
EDUCATION SERVICE
PO BOX 44670
KAMUELA,HI96743 		NONE PC GENERAL OPERATING 20,000

HONOLULU THEATRE FOR YOUTH

1164 BISHOP STREET SUITE 910
HONOLULU,HI96813 		NONE PC GENERAL OPERATING 25,000

HAWAII LAND TRUST

126 QUEEN ST SUITE 306
HONOLULU,HI96813 		NONE PC HISTORIC RAILWAY STATION 50,000

LAHAINA RESTORATION FOUNDATION

PO BOX 294
PUUNENE,HI96784 		NONE PC GENERAL OPERATING 25,000

HALE MAHAOLU

200 HINA AVENUE
WAILUKU,HI96732 		NONE PC GENERAL OPERATING 25,000

HAWAII INSTITUTE FOR MUSIC
ENRICHMENT & LEARNING EXPERIENCES
1296 AUWAIKU STREET
KAILUA,HI96734 		NONE PC GENERAL OPERATING 20,000

KAUAI INDEPENDENT FOOD BANK

3285 WAAPA ROAD STE A
LIHUE,HI96766 		NONE PC GENERAL OPERATING 15,000

LANAI ACADEMY OF PERFORMING ARTS

PO BOX 631124
LANAI CITY,HI96763 		NONE PC GENERAL OPERATING 10,000

TRUST FOR PUBLIC LAND

1164 BISHOP STREET SUITE 1512
HONOLULU,HI96813 		NONE PC GENERAL OPERATING 25,000

HAWAII ASSOCIATION OF THE BLIND

1550 AINAKOA AVENUE
HONOLULU,HI96821 		NONE PC GENERAL OPERATING 25,000

HAWAII COMMUNITY FOUNDATION

444 HANA HWY SUITE 201
Kahului,HI96732 		NONE PC MAUI STRONG FUND 250,000

UNIVERSITY OF HAWAII FOUNDATION

1314 SOUTH KIND ST STE B
HONOLULU,HI96814 		NONE PC LITTLE FIRE ANT PROJECT GEN 25,000
Total .................................right arrow 3a 970,000
bApproved for future payment
Total ................................. right arrow 3b  
Form 990-PF (2023)
Form 990-PF (2023)
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 ........... 		         
4 Dividends and interest from securities ....     14 592,232  
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 ............ 		    18 151,732  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aOTHER INCOME 		    1 2,281  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   746,245  
13Total. Add line 12, columns (b), (d), and (e)..................
13
746,245
(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 (2023)
Form 990-PF (2023)
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.
right arrow right arrow
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 Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 AccountingFeesSchedule
Name:
THE LAURENCE H DORCY HAWAIIAN FOUNDATION
EIN:
46-2117762
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC 2,500     2,500

TY 2023 InvestmentsCorpBondsSchedule
Name:
THE LAURENCE H DORCY HAWAIIAN FOUNDATION
EIN:
46-2117762
Name of Bond End of Year Book Value End of Year Fair Market Value
857477AW3 STATE STREET CORP 254,117 237,290
68389XAP0 ORACLE CORP    
828807CS4 SIMON PROPERTY GROUP 175,600 173,285
037833BG4 APPLE INC 295,926 293,535
92826CAC6 VISA INC    
69349LAM0 PNC BANK NA    
24422ETH2 JOHN DEERE MTN 281,454 284,379
665859AN4 NORTHERN TRST CO    
06406FAD5 BANK OF NY MTN    
05565QDA3 BP CAPITAL MARKETS    
0258M0EB1 AMERICAN EXPRESS MTN    
037833CJ7 APPLE INC 400,221 382,136
02665WDJ7 AMERICAN HONDA MTN 504,376 463,115
91324PCU4 UNITEDHEALTH GROUP    
035242AP1 ANHEUSER BUSCH    
039483BL5 ARCHER DANIELS 307,502 281,802
46625HKC3 JPMORGAN CHASE CO 507,878 490,820
22160KAN5 COSTCO WHSL CORP NEW 300,557 268,383
459200KA8 IBM CORP 325,164 276,108
020002BD2 ALLSTATE CORP 316,650 284,181
74460WAD9 PUBLIC STORAGE 303,378 262,719
437076CS9 HOME DEPOT INC 402,542 383,052
822582CB6 SHELL INTERNATIONAL 248,133 237,553
14913R2H9 CATERPILLAR FINL MTN 228,295 233,620
911312BZ8 UNITED PARCEL SVCS 409,603 387,896
053332AZ5 AUTOZONE INC SR NT 475,505 462,560
40434LAL9 HP INC 468,495 453,855
548661EL7 LOWES COS 398,548 386,308
63743HFP2 NATIONAL RURAL MTN 397,428 388,364

TY 2023 InvestmentsCorpStockSchedule
Name:
THE LAURENCE H DORCY HAWAIIAN FOUNDATION
EIN:
46-2117762
Name of Stock End of Year Book Value End of Year Fair Market Value
N53745100 LYONDELLBASELL INDUS 242,461 299,910
02079K107 ALPHABET INC CL C    
097023105 BOEING CO    
717081103 PFIZER INC 208,094 171,039
654106103 NIKE INC 86,198 184,520
278865100 ECOLAB INC    
031162100 AMGEN INC    
539830109 LOCKHEED MARTIN CORP 192,907 379,848
57636Q104 MASTERCARD INC 191,861 1,006,627
02079K305 ALPHABET INC CL A 195,961 888,779
037833100 APPLE INC 142,476 1,015,848
478160104 JOHNSON JOHNSON 194,568 263,588
882508104 TEXAS INSTRUMENTS IN 373,849 458,692
012653101 ALBEMARLE CORP 472,434 493,271
060505104 BANK OF AMERICA CORP 213,963 555,150
931142103 WAL MART STORES INC 176,188 462,930
594918104 MICROSOFT CORP 228,564 1,804,545
848637104 SPLUNK INC    
87807B107 TC ENERGY CORP 209,216 166,165
91324P102 UNITED HEALTH GROUP 202,554 875,497
92343V104 VERIZON COMMUNICATIO 113,054 90,827
26614N102 DUPONT DE NEMOURS IN    
79466L302 SALESFORCE COM INC 342,424 718,070
30303M102 FACEBOOK INC A    
56585A102 MARATHON PETROLEUM C 116,822 545,160
893641100 TRANSDIGM GROUP INC 165,855 723,857
110122108 BRISTOL MYERS SQUIBB 130,750 102,776
907818108 UNION PACIFIC CORP 240,926 612,821
126650100 CVS HEALTH CORPORATI    
693475105 P N C FINANCIAL SERV    
816851109 SEMPRA ENERGY 69,532 91,686
902252105 TYLER TECHNOLOGIES I    
22160K105 COSTCO WHSL CORP 144,236 614,465
G6095L109 APTIV PLC 148,074 149,100
89400J107 TRANSUNION    
440452100 HORMEL FOODS CORP 193,914 203,581
81762P102 SERVICENOW INC 65,152 515,144
28176E108 EDWARDS LIFESCIENCES 60,040 169,340
46625H100 J P MORGAN CHASE CO 247,866 765,810
88579Y101 3M CO    
H1467J104 CHUBB LTD 129,011 298,368
149123101 CATERPILLAR INC 148,273 614,271
437076102 HOME DEPOT INC 245,653 660,419
559222401 MAGNA INTL INC CL    
03027X100 AMERICAN TOWER CORP 200,098 248,762
023135106 AMAZON.COM INC 193,348 1,089,025
15135B101 CENTENE CORP COM 256,931 299,546
002824100 ABBOTT LABORATORIES 149,717 393,149
458140100 INTEL CORP    
127097103 CABOT OIL GAS CORP C    
92556V106 VIATRIS INC    
776696106 ROPER INDS INC 115,951 127,865
595112103 MICRON TECHNOLOGY IN    
92826C839 VISA INC 150,138 176,477
67066G104 NVIDIA CORP 163,268 669,616
57667L107 MATCH GROUP INC NEW    
70450Y103 PAYPAL HOLDINGS INC    
009066101 AIRBNB INC CL A 102,191 92,763
247361702 DELTA AIR LINES INC 212,002 250,350
808513105 SCHWAB CHARLES CORP 296,776 295,800
09247X101 BLACKROCK INC 259,366 249,031
17275R102 CISCO SYSTEMS INC 159,068 131,544
697435105 PALO ALTO NETWORKS I 106,601 187,624
87612E106 TARGET CORP 57,425 55,538
65339F101 NEXTERA ENERGY INC 193,643 160,728
G5960L103 MEDTRONIC PLC 133,947 120,360
806857108 SCHLUMBERGER LTD 299,751 265,128

TY 2023 OtherDecreasesSchedule
Name:
THE LAURENCE H DORCY HAWAIIAN FOUNDATION
EIN:
46-2117762
Description Amount
CY POAI CARRYOVER 2,833
PY EXPENSES PAID IN CY 2,307
COST BASIS ADJ 2,169


TY 2023 OtherExpensesSchedule
Name:
THE LAURENCE H DORCY HAWAIIAN FOUNDATION
EIN:
46-2117762
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
WEBSITE FEES 591 0   591
MISC TRUST EXPENSES 12,002 0   12,002
OFFICE EXPENSES 72 0   72
CELLULAR 378 0   378
HAWAII DCAA FEE 4 0   4


TY 2023 OtherIncomeSchedule2
Name:
THE LAURENCE H DORCY HAWAIIAN FOUNDATION
EIN:
46-2117762
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
OTHER INCOME 2,281 2,281  


TY 2023 OtherIncreasesSchedule
Name:
THE LAURENCE H DORCY HAWAIIAN FOUNDATION
EIN:
46-2117762
Description Amount
PY POAI CARRYOVER 5,038
CY EXPENSES ON CREDIT TIMING ADJ 529


TY 2023 OtherProfessionalFeesSchedule
Name:
THE LAURENCE H DORCY HAWAIIAN FOUNDATION
EIN:
46-2117762
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 112,045 89,636   22,409


TY 2023 TaxesSchedule
Name:
THE LAURENCE H DORCY HAWAIIAN FOUNDATION
EIN:
46-2117762
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL TAX PAYMENT - PRIOR YE 6,535 0   0
FEDERAL ESTIMATES - PRINCIPAL 6,292 0   0