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
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024
Name of foundation
THE CLARENCE TC CHING FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)201 MERCHANT STREET SUITE 1840
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
HONOLULU, HI96813
A Employer identification number

99-6014634
B Telephone number (see instructions)

(808) 521-0344
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$131,802,399J 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... 1,175,150 2,370,035  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment
List of Attached Documents:
// Content
4,795,464
b Gross sales price for all assets on line 6a 13,594,739
7 Capital gain net income (from Part IV, line 2)... 5,367,713
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
List of Attached Documents:
// Content
285,306 2,260,387  
12 Total. Add lines 1 through 11........ 6,255,920 9,998,135  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 585,000 234,000   351,000
14 Other employee salaries and wages...... 70,000 28,000   42,000
15 Pension plans, employee benefits....... 51,168 20,467   30,701
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
3,102 1,551   1,551
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
65,728 39,437   26,291
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
2,113 1,057   1,056
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
10,260 103,382    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 59,784 23,914   35,870
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
1,022,381 1,833,795   60,564
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,869,536 2,285,603   549,033
25 Contributions, gifts, grants paid....... 5,209,789 5,387,700
26 Total expenses and disbursements. Add lines 24 and 25 7,079,325 2,285,603   5,936,733
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -823,405
b Net investment income (if negative, enter -0-) 7,712,532
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
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............. 264,225 210,323 210,323
2 Savings and temporary cash investments.........      
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
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 arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 89,588 16,182 16,182
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 20,505,841 Click to see attachment
List of Attached Documents:
// Content
19,279,165 		19,279,165
c Investments—corporate bonds (attach schedule)....... 15,583,210 Click to see attachment
List of Attached Documents:
// Content
17,110,113 		17,110,113
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).......... 83,215,247 Click to see attachment
List of Attached Documents:
// Content
90,481,868 		90,481,868
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
3,703,383 		Click to see attachment
List of Attached Documents:
// Content
4,704,748 		Click to see attachment
List of Attached Documents:
// Content
4,704,748
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 123,361,494 131,802,399 131,802,399
Liabilities 17 Accounts payable and accrued expenses.......... 40,846 43,559
18 Grants payable................. 11,612,327 11,434,416
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) Click to see attachment
List of Attached Documents:
// Content
3,273 		Click to see attachment
List of Attached Documents:
// Content
3,134
23 Total liabilities (add lines 17 through 22)......... 11,656,446 11,481,109
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........... 111,705,048 120,321,290
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........    
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)..... 111,705,048 120,321,290
30 Total liabilities and net assets/fund balances (see instructions). 123,361,494 131,802,399
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
111,705,048
2
Enter amount from Part I, line 27a .....................
2
-823,405
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
9,439,647
4
Add lines 1, 2, and 3 ..........................
4
120,321,290
5
Decreases not included in line 2 (itemize) right arrow
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
120,321,290
Form 990-PF (2024)
Form 990-PF (2024)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES P   2024-12-31
b BOOK FLOW THROUGH LP INVESTMENTS P   2024-12-31
c CAPITAL GAINS DISTRIBUTION P   2024-12-31
d BOOK TO TAX ADJ FLOW THROUGH LP INV P   2024-12-31
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 10,472,248   8,799,275 1,672,973
b 2,435,327     2,435,327
c 687,164     687,164
d 572,249     572,249
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       1,672,973
b       2,435,327
c       687,164
d       572,249
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 5,367,713
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) 1 107,204
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  
3 Add lines 1 and 2........................... 3 107,204
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 107,204
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 106,984
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c 20,000
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 126,984
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 19,780
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow19,780 Refundedright arrow 11  
Form 990-PF (2024)
Form 990-PF (2024)
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 2024 or the taxable year beginning in 2024? 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 arrowWWW.CLARENCETCCHINGFOUNDATION.ORG
14
The books are in care ofright arrowTERTIA FREAS Telephone no.right arrow (808) 521-0344

Located atright arrow201 MERCHANT STREET SUITE 1840HONOLULUHI ZIP+4right arrow96813
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 2024, 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 (2024)
Form 990-PF (2024)
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 2024? .............
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 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
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 2024 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 2024.) .....................
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 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
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
RAYMOND J TAM TRUSTEE
8.00 		77,000 0 0
201 MERCHANT STREET SUITE 1840
HONOLULU,HI96813
JOHN K TSUI TRUSTEE
8.00 		86,000 0 0
201 MERCHANT STREET SUITE 1840
HONOLULU,HI96813
CATHERINE HQ CHING TRUSTEE
8.00 		36,000 0 0
201 MERCHANT STREET SUITE 1840
HONOLULU,HI96813
KENNETH T OKAMOTO TRUSTEE
8.00 		77,000 0 0
201 MERCHANT STREET SUITE 1840
HONOLULU,HI96813
ROBERT T FUJIOKA TRUSTEE
8.00 		77,000 0 0
201 MERCHANT STREET SUITE 1840
HONOLULU,HI96813
ELIZABETH S HOKADA TRUSTEE
8.00 		77,000 0 0
201 MERCHANT STREET SUITE 1840
HONOLULU,HI96813
TERTIA FREAS EXECUTIVE DI
40.00 		155,000 15,605 0
201 MERCHANT STREET SUITE 1840
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
JULIE TAM EXECUTIVE AS
40.00 		70,000 15,605  
201 MERCHANT STREET SUITE 1840
HONOLULU,HI96813
Total number of other employees paid over $50,000...................right arrow  
Form 990-PF (2024)
Form 990-PF (2024)
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
CAMBRIDGE ASSOCIATES LLC INVESTMENT ADVI 191,361
125 HIGH STREET
BOSTON,MA02110
Total number of others receiving over $50,000 for professional services.............right arrow  
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 N/A  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow  
Form 990-PF (2024)
Form 990-PF (2024)
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
128,107,766
b
Average of monthly cash balances.......................
1b
298,967
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
128,406,733
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
 
2
Acquisition indebtedness applicable to line 1 assets..................
2
 
3
Subtract line 2 from line 1d.........................
3
128,406,733
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
1,926,101
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
126,480,632
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
6,324,032
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
6,324,032
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
107,204
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
107,204
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
6,216,828
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
6,216,828
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
6,216,828
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
5,936,733
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
5,936,733
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2023 		(c)
2023 		(d)
2024
1 Distributable amount for 2024 from Part X, line 7 6,216,828
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only.......  
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2024:
a From 2019...... 188,568
b From 2020...... 463,572
c From 2021...... 59,617
d From 2022...... 330,304
e From 2023...... 605,178
f Total of lines 3a through e ........ 1,647,239
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 5,936,733
a Applied to 2023, but not more than line 2a  
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		 
d Applied to 2024 distributable amount..... 5,936,733
e Remaining amount distributed out of corpus  
5 Excess distributions carryover applied to 2024. 280,095 280,095
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 1,367,144
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		 
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		 
e Undistributed income for 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		 
8 Excess distributions carryover from 2019 not
applied on line 5 or line 7 (see instructions) ... 		 
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		1,367,144
10 Analysis of line 9:
a Excess from 2020.... 372,045
b Excess from 2021.... 59,617
c Excess from 2022.... 330,304
d Excess from 2023.... 605,178
e Excess from 2024....  
Form 990-PF (2024)
Form 990-PF (2024)
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 2024, 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) 2024 (b) 2023 (c) 2022 (d) 2021
         
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 right arrow if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
MS TERTIA FREAS
1001 BISHOP STREET SUITE 770
HONOLULU,HI96813
(808) 521-0344
bThe form in which applications should be submitted and information and materials they should include:
GRANT APPLICATIONS SHOULD PROVIDE ADEQUATE PROOF OF THE ORGANIZATION'S TAX-EXEMPT STATUS, DOCUMENTATION OF ITS PUBLIC SUPPORT AND A DESCRIPTION OF THE PLANNED USE OF THE FUNDS REQUIRED.
cAny submission deadlines:
DEADLINES ARE JANUARY 31ST AND JULY 31ST; APPLICATIONS ARE REVIEWED AND APPROVED OR DENIED IN MARCH
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
THE FOUNDATION IS A TAX-EXEMPT PRIVATE FOUNDATION WHOSE GENERAL PURPOSE IS CHARITABLE IN NATURE. THE FOUNDATION DOES NOT SPONSOR OR OTHERWISE ENGAGE IN SPECIFIC PROGRAMS AT THIS TIME, AND GENERALLY LIMITS ITS CURRENT ACTIVITIES TO MAKING GRANTS AND DONATIONS TO PUBLIC CHARITIES. IT WILL ENTERTAIN REQUESTS FOR GRANTS ONLY FROM CHARITIES DESCRIBED IN IRC SECTIONS 509(A)(1) AND 170(B)(1)(A). THE FOUNDATION ALSO SPONSORS AN ANNUAL CONTEST FOR CHILDREN GRADES K TO 12 WHO ARE CURRENT RESIDENTS OF HAWAII. THE CONTEST IS DESIGNED TO EDUCATED AND INSPIRE THE CHILDREN OF HAWAII TO BECOME AWARE OF PROBLEMS FACING THE STATE OF HAWAII AND TO BECOME ENGAGED IN OFFERING CREATIVE SOLUTIONS FOR THESE PROBLEMS. ENTRY FORMS ARE AVAILABLE ON THE FOUNDATION'S WEBSITE.
Form 990-PF (2024)
Form 990-PF (2024)
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

ACCESS SURF

PO BOX 15152
HONOLULU,HI96830 		  501(C)(3) GENERAL PROGRAM SUPPORT 25,000

ADVENTIST HEALTH

640 ULUKAHIKI ST
KAILUA,HI96734 		  501(C)(3) CAPITAL IMPROVEMENT 250,000

ALZHEIMER'S ASSOCIATION

130 NORTH NIMITZ HWY
STE A-265
HONOLULU,HI96817 		  501(C)(3) GENERAL PROGRAM SUPPORT 10,000

AMERICAN CANCER SOCIETY

2370 NUUANU AVE
HONOLULU,HI96817 		  501(C)(3) CAPITAL IMPROVEMENT 350,000

ARMED SERVICES YMCA

100 MCCHORD ST
HONOLULU,HI96853 		  501(C)(3) GENERAL PROGRAM SUPPORT 25,000

BLOOD BANK OF HAWAII

1907 YOUNG ST
HONOLULU,HI96826 		  501(C)(3) CAPITAL IMPROVEMENT 200,000

BOYS AND GIRLS CLUB OF HAWAII

345 QUEEN ST STE 900
HONOLULU,HI96813 		  501(C)(3) GENERAL PROGRAM SUPPORT 50,000

CHILD AND FAMILY SERVICE

91-1841 FORT WEAVER ROAD
EWA BEACH,HI96706 		  501(C)(3) GENERAL PROGRAM SUPPORT 5,000

DIAMOND HEAD THEATRE

520 MAKAPUU AVENUE
HONOLULU,HI96816 		  501(C)(3) CAPITAL IMPROVEMENT 100,000

FAMILY PROGRAMS HAWAII

801 SOUTH KING STREET
HONOLULU,HI96813 		  501(C)(3) GENERAL PROGRAM SUPPORT 25,000

FAMILY SUPPORT HAWAII

75-127 LUNALUPE RD
SUITE 11
KAILUAKONA,HI96740 		  501(C)(3) GENERAL PROGRAM SUPPORT 25,000

FOUNDATION OF MARYKNOLL SCHOOL

1526 ALEXANDER ST
HONOLULU,HI96822 		  501(C)(3) CAPITAL IMPROVEMENT 100,000

FRIENDS OF THE CHILDREN'S JUSTICE C

3019 PALI HIGHWAY
HONOLULU,HI96817 		  501(C)(3) GENERAL PROGRAM SUPPORT 10,000

HALEAKALA CONSERVANCY

PO BOX 880878
PUKALANI,HI96768 		  501(C)(3) GENERAL PROGRAM SUPPORT 10,000

HALOALAUNUIAKEA PUNA

PO BOX 1166
KALAHEO,HI967411166 		  501(C)(3) CAPITAL IMPROVEMENT 50,000

HAWAII CHILDREN'S CANCER FOUNDATION

1814 LILIHA ST
HONOLULU,HI96817 		  501(C)(3) GENERAL PROGRAM SUPPORT 25,000

HAWAII COMMUNITY FOUNDATION

827 FORT STREET MALL
HONOLULU,HI96813 		  501(C)(3) GENERAL PROGRAM SUPPORT 5,000

HAWAII COMMUNITY FOUNDATION - MAUI

827 FORT STREET MALL
HONOLULU,HI96813 		  501(C)(3) GENERAL PROGRAM SUPPORT 100,000

HAWAII ISLAND ADULT CARE

561 KUPUNA PLACE
HILO,HI96720 		  501(C)(3) GENERAL PROGRAM SUPPORT 20,000

HAWAII LITERACY INC

245 N KUKUI ST STE 202
HONOLULU,HI96817 		  501(C)(3) GENERAL PROGRAM SUPPORT 20,000

HAWAII MEALS ON WHEELS

PO BOX 236099
HONOLULU,HI968233520 		  501(C)(3) GENERAL PROGRAM SIPPORT 25,000

HAWAII OPERA THEATRE

848 SOUTH BERETANIA ST
HONOLULU,HI96813 		  501(C)(3) GENERAL PROGRAM SUPPORT 25,000

HAWAII PREPARATORY ACADEMY

65-1692 KOHALA MOUNTAIN R
KAMUELA,HI967438476 		  501(C)(3) GENERAL PROGRAM SUPPORT 18,000

HAWAII SYMPHONY ORCHESTRA

3610 WAIALAE AVENUE
HONOLULU,HI96816 		  501(C)(3) GENERAL PROGRAM SUPPORT 50,000

HAWAII YOUTH IMPACT PROGRAM

515 KING ST 330
ALEXANDRIA,VA22314 		  501(C)(3) GENERAL PROGRAM SUPPORT 5,000

HOKULANI CHILDREN'S THEATRE OF MOLO

PO BOX 85
HOOLEHUA,HI96729 		  501(C)(3) GENERAL PROGRAM SUPPORT 5,000

HONOLULU COMMUNITY ACTION PROGRAM

1132 BISHOP ST
STE 100
HONOLULU,HI96813 		  501(C)(3) GENERAL PROGRAM SUPPORT 20,000

HONOLULU MUSEUM OF ART

900 SOUTH BERETANIA ST
HONOLULU,HI96814 		  501(C)(3) GENERAL PROGRAM SUPPORT 25,000

HONOLULU THEATER FOR YOUTH

1164 BISHOP ST 910
HONOLULU,HI96813 		  501(C)(3) GENERAL PROGRAM SUPPORT 20,000

HUGS

3636 KILAUEA AVE
HONOLULU,HI96816 		  501(C)(3) GENERAL PROGRAM SUPPORT 5,000

IHS

546 KAAAHI ST
HONOLULU,HI96817 		  501(C)(3) GENERAL PROGRAM SUPPORT 50,000

JUNIOR ACHIEVEMENT OF HI INC

1888 KALAKAUA AVE
SUITE C-312
HONOLULU,HI96815 		  501(C)(3) GENERAL PROGRAM SUPPORT 20,000

KAUAI FOOD BANK

3285 WAAPA ROAD
LIHUE,HI96766 		  501(C)(3) GENERAL PROGRAM SUPPORT 10,000

KIDS HURT TOO HAWAII

245 N KUKUI ST STE 102
HONOLULU,HI96817 		  501(C)(3) GENERAL PROGRAM SUPPORT 10,000

KKV FAMILY SERVICES

1475 LINAPUNI ST STE 105
HONOLULU,HI96819 		  501(C)(3) CAPITAL IMPROVEMENT 100,000

LAHAINA ARTS GUILD

PO BOX 11045
LAHAINA,HI96761 		  501(C)(3) GENERAL PROGRAM SUPPORT 10,000

LANAI ACADEMY OF PERFORMING ARTS

PO BOX 631124
LANAI CITY,HI96763 		  501(C)(3) GENERAL PROGRAM SUPPORT 10,000

LAWAKUA CHARITABLE FUND

737 BISHOP ST NO18
HONOLULU,HI96813 		  501(C)(3) GENERAL PROGRAM SUPPORT 5,000

LE JARDIN ACADEMY

917 KALANIANAOLE HWY
KALIA,HI96734 		  501(C)(3) CAPITAL IMPROVEMENT 100,000

MAKE A WISH FOUNDATION

900 FORT STREET MALL 1200
HONOLULU,HI96813 		  501(C)(3) GENERAL PROGRAM SUPPORT 25,000

MAUI PREPARATORY ACADEMY

5095 NAPILIAU ST
109B
LAHAINA,HI96761 		  501(C)(3) GENERAL PROGRAM SUPPORT 22,000

NAVIAN HAWAII

860 IWILEI RD
HONOLULU,HI968175018 		  501(C)(3) GENERAL PROGRAM SUPPORT 5,000

PARKER SCHOOL

65-1224 LINDSEY RD
KAMUELA,HI96743 		  501(C)(3) CAPITAL IMPROVEMENT 200,000

PUNAHOU SCHOOL

1601 PUNAHOU ST
HONOLULU,HI96822 		  501(C)(3) GENERAL PROGRAM SUPPORT 600,000

PUUONUA O WAIANAE

85-371 FARRINGTON HWY
WAIANAE,HI96792 		  501(C)(3) CAPITAL IMPROVEMENT 125,000

PUUONUA O WAIANAE

85-371 FARRINGTON HWY
WAIANAE,HI96792 		  501(C)(3) GENERAL PROGRAM SUPORT 5,000

REHAB HOSPITAL OF THE PACIFIC FOUND

226 NORTH KUAKINI STREET
HONOLULU,HI96817 		  501(C)(3) CAPITAL IMPROVEMENT 500,000

RIVER OF LIFE MISSION CHURCH

101 N PAUAHI ST
HONOLULU,HI96817 		  501(C)(3) GENERAL PROGRAM SUPPORT 50,000

SPECIAL EDUCATION CENTER

1001 KAMOKILA BLVD 259
HONOLULU,HI96707 		  501(C)(3) CAPITAL IMPROVEMENT 50,000

SPECIAL OLYMPICS

91-610 MAUNAKAPU ST
EWA,HI96706 		  501(C)(3) CAPITAL IMPROVEMENT 100,000

ST FRANCIS HEALTHCARE

2228 LILIHA ST STE 205
HONOLULU,HI96817 		  501(C)(3) CAPITAL IMPROVEMENT 400,000

STRAUB FOUNDATION

55 MERCHANT ST STE 2600
HONOLULU,HI96813 		  501(C)(3) CAPITAL IMPROVEMENT 500,000

SUSTAINABLE MOLOKAI

PO BOX 250
KAUNAKAKAI,HI96748 		  501(C)(3) GENERAL PROGRAM SUPPORT 19,700

TEACH FOR AMERICA

25 BROADWAY
12TH FLOOR
NEW YORK,NY10004 		  501(C)(3) GENERAL PROGRAM SUPPORT 25,000

THE FOOD BASKET INC

40 HOLOMUA STREET
HILO,HI96720 		  501(C)(3) GENERAL PROGRAM SUPPORT 25,000

THE QUEEN'S MEDICAL CENTER

1301 PUNCHBOWL STREET
HONOLULU,HI96813 		  501(C)(3) GENERAL PROGRAM SUPPORT 400,000

TRUST FOR PUBLIC LAND

1003 BISHOP ST STE 740
HONOLULU,HI96813 		  501(C)(3) GENERAL PROGRAM SUPPORT 25,000

UH FOUNDATION - JABSOM

1314 S KING ST STE B
HONOLULU,HI96814 		  501(C)(3) GENERAL PROGRAM SUPPORT 63,000

UH FOUNDATION ATHLETIC CENTER

1314 S KING ST STE B
HONOLULU,HI96814 		  501(C)(3) CAPITAL IMPROVEMENT 250,000

UH FOUNDATION PACE

1314 S KING ST STE B
HONOLULU,HI96814 		  501(C)(3) GENERAL PROGRAM SUPPORT 40,000

UNIVERSITY OF HAWAII FOUNDATION

1314 S KING ST STE B
HONOLULU,HI96814 		  501(C)(3) GENERAL PROGRAM SUPPORT 25,000

WAIPAHU SAFE HAVEN

94-340 WAIPAHU DEPOT ST
201
WAIPAHU,HI96797 		  501(C)(3) GENERAL PROGRAM SUPPORT 5,000

WEST HAWAII MEDIATION CENTER

PO BOX 7020
KAMUELA,HI96743 		  501(C)(3) GENERAL PROGRAM SUPPORT 10,000
Total .................................right arrow 3a 5,387,700
bApproved for future payment

ALOHA HOUSE
200 IKE DRIVE
MAWAKO,HI96768 		  501(C)(3) CAPITAL IMPROVEMENT 50,000

CHAMINADE UNIVERSITY OF HONOLULU
3140 WAIALAE AVE
HONOLULU,HI96816 		  501(C)(3) CAPITAL IMPROVEMENTS 2,234,693

HOME AID HAWAII
680 IWILEI ROAD 570
HONOLULU,HI96817 		  501(C)(3) GENERAL PROGRAM SUPPORT 25,000

HONOLULU HABITAT FOR HUMANITY
922 AUSTIN LANE NO C-1
HONOLULU,HI96817 		  501(C)(3) GENERAL PROGRAM SUPPORT 50,000

HOOKUAINA
PO BOX 342146
KAILUA,HI96734 		  501(C)(3) GENERAL PROGRAM SUPPORT 25,000

KING LUNALILO TRUST
501 KEKAULUOHI ST
HONOLULU,HI96825 		  501(C)(3) CAPITAL IMPROVEMENT 50,000

KRISTI YAMAGUCHI'S ALWAYS DREAM
125 RAILROAD AVE
SUITE 203
DANVILLE,CA94526 		  501(C)(3) GENERAL PROGRAM SUPPORT 10,000

KUPU
677 ALA MOANA BLVD 1200
HONOLULU,HI96813 		  501(C)(3) GENERAL PROGRAM SUPPORT 100,000

PATH PEOPLE FOR ACTIVE TRANSPORTATI
PO BOX 62
KAILUA KONA,HI96745 		  501(C)(3) GENERAL PROGRAM SUPPORT 10,000

RYSE RESIDENTIAL YOUTH SERVICES
PO BOX 11662
HONOLULU,HI96828 		  501(C)(3) GENERAL PROGRAM SUPPORT 100,000

UH FOUNDATION CULINARY INST PROG
1314 S KING ST STE B
HONOLULU,HI96814 		  501(C)(3) GENERAL PROGRAM SUPPORT 903,712

YWCA KAUAI
3094 ELUA ST
LIHUE,HI96766 		  501(C)(3) CAPITAL IMPROVEMENT 20,000
Total ................................. right arrow 3b 3,578,405
Form 990-PF (2024)
Form 990-PF (2024)
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 1,175,150  
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 4,795,464  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aOTHER INCOME 		    14 404,353  
bUBTI INCOME/(LOSS) FROM K-1 523000 -119,047      
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. -119,047 6,374,967  
13Total. Add line 12, columns (b), (d), and (e)..................
13
6,255,920
(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 (2024)
Form 990-PF (2024)
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 Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


 Phone no.
Form 990-PF (2024)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 AccountingFeesSchedule
Name:
THE CLARENCE TC CHING FOUNDATION
EIN:
99-6014634
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING SERVICES 65,728 39,437   26,291

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

TY 2024 GainLossSaleOtherAssetsSch
Name:
THE CLARENCE TC CHING FOUNDATION
EIN:
99-6014634
Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    PURCHASE                

TY 2024 InvestmentsCorpBondsSchedule
Name:
THE CLARENCE TC CHING FOUNDATION
EIN:
99-6014634
Name of Bond End of Year Book Value End of Year Fair Market Value
CHARLES SCHWAB 7379 - BONDS 17,110,113 17,110,113

TY 2024 InvestmentsCorpStockSchedule
Name:
THE CLARENCE TC CHING FOUNDATION
EIN:
99-6014634
Name of Stock End of Year Book Value End of Year Fair Market Value
CHARLES SCHWAB 6291 - STOCKS 4,709,074 4,709,074
CHARLES SCHWAB 7379 - STOCKS 14,570,091 14,570,091

TY 2024 InvestmentsOtherSchedule2
Name:
THE CLARENCE TC CHING FOUNDATION
EIN:
99-6014634
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
1607 CAPITAL PARTNERS INTL EQUITY FMV 2,473,183 2,473,183
ACADIAN INTL SMALL-CAP FD FMV 2,207,683 2,207,683
ACCOLADE PTRS FMV 2,907,718 2,907,718
ALPHADYNE INTL FD FMV 4,065,054 4,065,054
ARROWSTREET CAP FMV 7,754,834 7,754,834
BROADRIVER III FMV 726,941 726,941
CEVIAN CAPITAL FMV 3,918,588 3,918,588
CHARLES SCHWAB 6291 - CASH & MM FMV 351,814 351,814
CHARLES SCHWAB 7379 - CASH & MM FMV 2,117,994 2,117,994
COATUE GROWTH V FMV 670,569 670,569
COATUE GWT V-B FMV 489,436 489,436
DAVIDSON KEMPNER FMV 3,404,677 3,404,677
ENCAP ENERGY FMV 1,106,348 1,106,348
FIRST EAGLE US SM FMV 2,332,807 2,332,807
FORESTER DIVERSIFIED LTD CLASS B FMV 432,050 432,050
FORTRESS CREDIT FMV 825,812 825,812
FORTRESS CREDIT OPP FD VI FMV 417,711 417,711
GLOBAL RESEARCH FMV 7,445,392 7,445,392
GQG PARTNERS INTL FMV 3,525,657 3,525,657
GREEN CRT CHINA FMV 978,868 978,868
GREENSPRING EARLY FMV 1,501,527 1,501,527
GREENSPRING IX FMV 2,091,556 2,091,556
GREENSPRING SEC FMV 1,393,812 1,393,812
ICG STRATEGIC EQUITY FD V LP FMV 524,093 524,093
IFP GLOBAL EQUITY FMV 4,544,676 4,544,676
INVESTABLE EMERGING MARKETS COUNTRY FMV 1,510,204 1,510,204
ISAM FMV 2,990,314 2,990,314
KHP OFFSHORE FEED FMV 3,584,853 3,584,853
KHP STRATEGIC 12 FMV 2,481,400 2,481,400
KLINE HILL PART FMV 845,723 845,723
LEVEL EQUITY GR V FMV 833,229 833,229
LEVEL STRUC CP II FMV 918,195 918,195
LEVEL EQUITY GRWT FMV 1,654,686 1,654,686
LEVEL STRUCTURE FMV 353,051 353,051
MAHOUT GLOBAL FMV 1,423,800 1,423,800
MANULIFE PE FMV 1,796,294 1,796,294
PALMER SQUARE MULTI-ASSET CREDIT FD FMV 1,560,287 1,560,287
PEAK ROCK CAP CR FMV 41,231 41,231
PEAK ROCK CAP FD FMV 191,557 191,557
PRIME FINANCE SP SITUATIONS FD 2 FMV 286,452 286,452
STANDARD CRYPTO V FMV 2,171,605 2,171,605
TWO SIGMA FMV 8,384,750 8,384,750
TWO SIGMA CHINA FMV 1,245,437 1,245,437

TY 2024 LegalFeesSchedule
Name:
THE CLARENCE TC CHING FOUNDATION
EIN:
99-6014634
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 3,102 1,551   1,551


TY 2024 OtherAssetsSchedule
Name:
THE CLARENCE TC CHING FOUNDATION
EIN:
99-6014634
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
DUE FROM BROKERS 3,703,383 4,704,748 4,704,748


TY 2024 OtherExpensesSchedule
Name:
THE CLARENCE TC CHING FOUNDATION
EIN:
99-6014634
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXPENSES        
INVESTMENT EXPENSE 617,223 617,223    
CAMBRIDGE - FEES 191,361 191,361    
FOUNDATION INSURANCE 10,333 5,166   5,167
COMPUTER SERVICE 7,854 3,927   3,927
OFFICE SUPPLIES & EXPENSE 4,101 2,051   2,050
MISCELLANEOUS 4,671 2,335   2,336
ENTERTAINMENT & MEALS 4,604 2,302   2,302
DUES AND SUBSCRIPTIONS 6,585 3,293   3,292
PORTFOLIO DED FROM PSHIP K-1S   1,000,479    
INSPIRED IN HI CONTEST - AWAR 20,210     20,210
INSPIRED IN HI CONTEST - EXPE 12,603     12,603
FEDERAL INCOME TAX 128,501      
PARKING 2,270 1,135   1,135
PARKING - MONTHLY 9,433 3,773   5,660
PHONE 1,874 750   1,124
WEBSITE 565     565
TRAVEL 193     193


TY 2024 OtherIncomeSchedule2
Name:
THE CLARENCE TC CHING FOUNDATION
EIN:
99-6014634
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
OTHER INCOME 404,353    
UBTI INCOME/(LOSS) FROM K-1S -119,047    


TY 2024 OtherIncreasesSchedule
Name:
THE CLARENCE TC CHING FOUNDATION
EIN:
99-6014634
Description Amount
UNREALIZED GAINS REPORTED ON BOOKS 9,439,647


TY 2024 OtherLiabilitiesSchedule
Name:
THE CLARENCE TC CHING FOUNDATION
EIN:
99-6014634
Description Beginning of Year - Book Value End of Year - Book Value
PAYROLL TAXES WITHHELD AND ACCRUED 3,273 3,134


TY 2024 OtherProfessionalFeesSchedule
Name:
THE CLARENCE TC CHING FOUNDATION
EIN:
99-6014634
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
OTHER PROFESSIONAL FEES 2,113 1,057   1,056


TY 2024 TaxesSchedule
Name:
THE CLARENCE TC CHING FOUNDATION
EIN:
99-6014634
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 10,260 10,260    
FOREIGN TAXES FROM PSHIP K-1S   93,122