Form990


Department of the TreasuryInternal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations)
Do not enter social security numbers on this form as it may be made public.
Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public Inspection
A For the 2024 calendar year, or tax year beginning 07-01-2024 , and ending 06-30-2025
BCheck if applicable:
CName of organization
TRUSTEES OF THE ESTATE OF BERNICE PAUAHI
BISHOP DBA KAMEHAMEHA SCHOOLS
 
Doing business as
KAMEHAMEHA SCHOOLS
 
Number and street (or P.O. box if mail is not delivered to street address)
567 S KING STREET SUITE 200
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
HONOLULU, HI96813
D Employer identification number

99-0073480
E Telephone number

G Gross receipts $ 4,736,863,244
F Name and address of principal officer:
LIVINGSTON SM WONG
567 S KING STREET SUITE 200
HONOLULU,HI96813
I
Tax-exempt status: (   ) (insert no.) or
J
Website:
WWW.KSBE.EDU
H(a)
Is this a group return for
subordinates?
H(b)
Are all subordinates
included?
If "No," attach a list. See instructions.
H(c)
Group exemption number  
K Form of organization:  
L Year of formation: 1885
M State of legal domicile: HI
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: KAMEHAMEHA SCHOOLS' MISSION IS TO FULFILL PAUAHI'S DESIRE TO CREATE EDUCATIONAL OPPORTUNITIES IN PERPETUITY TO IMPROVE THE CAPABILITY AND WELL-BEING OF PEOPLE OF HAWAIIAN ANCESTRY.
2 Check this box
3 Number of voting members of the governing body (Part VI, line 1a) ........ 3 5
4 Number of independent voting members of the governing body (Part VI, line 1b) ..... 4 4
5 Total number of individuals employed in calendar year 2024 (Part V, line 2a) ...... 5 3,642
6 Total number of volunteers (estimate if necessary) ............. 6 5,000
7a Total unrelated business revenue from Part VIII, column (C), line 12 ........ 7a 21,560,273
b Net unrelated business taxable income from Form 990-T, Part I, line 11 ......... 7b 2,277,226
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 1,349,235 612,408
9 Program service revenue (Part VIII, line 2g) ......... 47,377,000 50,324,217
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 396,488,767 730,074,852
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 143,612,102 146,444,494
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12) 588,827,104 927,455,971
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 98,871,910 106,803,433
14 Benefits paid to or for members (Part IX, column (A), line 4)..... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 307,978,008 338,688,142
16a Professional fundraising fees (Part IX, column (A), line 11e) ..... 0 0
b Total fundraising expenses (Part IX, column (D), line 25) 3,276,691    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e).... 1,001,304,709 329,548,656
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 1,408,154,627 775,040,231
19 Revenue less expenses. Subtract line 18 from line 12....... -819,327,523 152,415,740
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 12,171,215,830 13,000,665,087
21 Total liabilities (Part X, line 26)............. 1,746,285,714 1,733,643,506
22 Net assets or fund balances. Subtract line 21 from line 20..... 10,424,930,116 11,267,021,581
Part II
Signature Block
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 officer) is based on all information of which preparer has any knowledge.
Sign Here
Signature of officer Date
Type or print name and title
Paid Preparer Use Only
Print/Type preparer's name
Preparer's signature
Date
PTIN
Firm's name

Firm's EIN
Firm's address



Phone no.
May the IRS discuss this return with the preparer shown above? See Instructions. ..........
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y Form 990 (2024)
Form 990 (2024)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response or note to any line in this Part III..............
1
Briefly describe the organization’s mission: KAMEHAMEHA SCHOOLS' MISSION IS TO FULFILL PAUAHI'S DESIRE TO CREATE EDUCATIONAL OPPORTUNITIES IN PERPETUITY TO IMPROVE THE CAPABILITY AND WELL-BEING OF PEOPLE OF HAWAIIAN ANCESTRY.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? .....................
If "Yes," describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program
services? ...........................
If "Yes," describe these changes on Schedule O.
4
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 478,253,306 including grants of $ 106,803,433 ) (Revenue $ 56,287,707 )
KAMEHAMEHA SCHOOLS WAS ESTABLISHED UNDER THE WILL AND CODICILS OF BERNICE PAUAHI BISHOP IN 1885 AND OPENED IN 1887 AND IS NOW ONE OF THE LARGEST SCHOOLS IN THE UNITED STATES SERVING KINDERGARTEN THROUGH GRADE 12 AND 30 PRESCHOOLS. FOR OVER ONE-HUNDRED AND THIRTY YEARS, KAMEHAMEHA SCHOOLS HAS CONTINUOUSLY PROVIDED QUALITY EDUCATION GIVING PREFERENCE TO STUDENTS OF HAWAIIAN ANCESTRY TO THE EXTENT PERMITTED BY LAW.SEE SCHEDULE O
4b (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
4c (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
4d Other program services (Describe in Schedule O.)
(Expenses $   including grants of $   ) (Revenue $   )
4e Total program service expenses478,253,306
Form 990 (2024)
Form 990 (2024)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule AClick to see attachment
List of Attached Documents:
// Content
.....................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors? See instructions. Click to see attachment
List of Attached Documents:
// Content
...
2
Yes
 
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part IClick to see attachment
List of Attached Documents:
// Content
.............
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part IIClick to see attachment
List of Attached Documents:
// Content
.........
4
Yes
 
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Rev. Proc. 98-19? If "Yes," complete Schedule C, Part IIIClick to see attachment
List of Attached Documents:
// Content
..
5
 
No
6
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part IClick to see attachment
List of Attached Documents:
// Content
.........................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part IIClick to see attachment
List of Attached Documents:
// Content
....
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes,"
complete Schedule D, Part IIIClick to see attachment
List of Attached Documents:
// Content
..............
8
Yes
 
9
Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IVClick to see attachment
List of Attached Documents:
// Content
..............
9
 
No
10
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi endowments? If "Yes," complete Schedule D, Part V......
10
Yes
 
11
If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X, as applicable.
a
Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If "Yes," complete
Schedule D, Part VI. Click to see attachment
List of Attached Documents:
// Content
...................
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIClick to see attachment
List of Attached Documents:
// Content
.......
11b
Yes
 
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIIClick to see attachment
List of Attached Documents:
// Content
.......
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part IXClick to see attachment
List of Attached Documents:
// Content
............
11d
 
No
e
Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part XClick to see attachment
List of Attached Documents:
// Content
11e
Yes
 
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part XClick to see attachment
List of Attached Documents:
// Content
11f
Yes
 
12a
Did the organization obtain separate, independent audited financial statements for the tax year? If "Yes," complete
Schedule D, Parts XI and XIIClick to see attachment
List of Attached Documents:
// Content
......................
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional Click to see attachment
List of Attached Documents:
// Content
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule EClick to see attachment
List of Attached Documents:
// Content
13
Yes
 
14a
Did the organization maintain an office, employees, or agents outside of the United States? .....
14a
Yes
 
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV.........Click to see attachment
List of Attached Documents:
// Content
14b
Yes
 
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IV.....Click to see attachment
List of Attached Documents:
// Content
15
 
No
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV...Click to see attachment
List of Attached Documents:
// Content
16
 
No
17
Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I. See instructions. ....Click to see attachment
List of Attached Documents:
// Content
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If "Yes," complete Schedule G, Part II............ Click to see attachment
List of Attached Documents:
// Content
18
Yes
 
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes," complete Schedule G, Part III...................Click to see attachment
List of Attached Documents:
// Content
19
 
No
20a
Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....
20a
 
No
b
If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?
20b
 
 
21
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.....Click to see attachment
List of Attached Documents:
// Content
21
Yes
 
Form 990 (2024)
Form 990 (2024)
Page 4
Part IV
Checklist of Required Schedules (continued)
Yes
No
22
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........Click to see attachment
List of Attached Documents:
// Content
22
Yes
 
23
Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J....................... Click to see attachment
List of Attached Documents:
// Content
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a...............
24a
 
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds? ...............
24c
 
 
d
Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...
24d
 
 
25a
Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I .... Click to see attachment
List of Attached Documents:
// Content
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I.......................Click to see attachment
List of Attached Documents:
// Content
25b
 
No
26
Did the organization report any amount on Part X, line 5 or 22 for receivables from or payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part IIClick to see attachment
List of Attached Documents:
// Content
...........
26
 
No
27
Did the organization provide a grant or other assistance to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or employee thereof, a grant selection committee member, or to a 35% controlled entity (including an employee thereof) or family member of any of these persons?
If "Yes," complete
Schedule L, Part IIIClick to see attachment
List of Attached Documents:
// Content
.........................
27
 
No
28
Was the organization a party to a business transaction with one of the following parties (see the Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, key employee, creator or founder, or substantial contributor? If "Yes," complete Schedule L, Part IV......................Click to see attachment
List of Attached Documents:
// Content
28a
 
No
b
A family member of any individual described in line 28a? If "Yes," complete Schedule L, Part IV.....Click to see attachment
List of Attached Documents:
// Content
28b
Yes
 
c
A 35% controlled entity of one or more individuals and/or organizations described in line 28a or 28b? If "Yes," complete Schedule L, Part IV.....................
28c
 
No
29
Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M..
29
 
No
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M .................
30
 
No
31
Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N, Part I
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II........................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I............Click to see attachment
List of Attached Documents:
// Content
33
Yes
 
34
Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1.........................Click to see attachment
List of Attached Documents:
// Content
34
Yes
 
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
Yes
 
b
If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2 ...Click to see attachment
List of Attached Documents:
// Content
35b
Yes
 
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes," complete Schedule R, Part V, line 2............. Click to see attachment
List of Attached Documents:
// Content
36
 
No
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VIClick to see attachment
List of Attached Documents:
// Content
37
 
No
38
Did the organization complete Schedule O and provide explanations on Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V...........
Yes
No
1a
Enter the number reported in box 3 of Form 1096. Enter -0- if not applicable ..
1a
1,081
b
Enter the number of Forms W-2G included on line 1a. Enter -0- if not applicable .
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
Form 990 (2024)
Form 990 (2024)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance (continued)
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return ..................
2a
3,642
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?...
3a
Yes
 
b
If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...
3b
Yes
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)? ..
4a
Yes
 
b
If "Yes," enter the name of the foreign country: BR , CA , CH , CO , DA , EI , EZ , HU , IC , ID , IS , JA , KS , NO , PE , PL , PO , RO , SW , TU , UK
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year? ..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions? ...
6a
 
No
b
If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible? ......................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor? ....................
7a
 
No
b
If "Yes," did the organization notify the donor of the value of the goods or services provided? .....
7b
 
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282? .........................
7c
 
No
d
If "Yes," indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?
7e
 
No
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ..
7f
 
No
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required? ......................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C? ..........................
7h
 
 
8
Sponsoring organizations maintaining donor advised funds. Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year? ........
8
 
 
9
Sponsoring organizations maintaining donor advised funds.
a
Did the sponsoring organization make any taxable distributions under section 4966?........
9a
 
 
b
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources. (Do not net amounts due or paid to other sources against amounts due or received from them.) ..........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If "Yes," enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state? .........
Note. See the instructions for additional information the organization must report on Schedule O.
13a
 
 
b
Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans ....
13b
 
c
Enter the amount of reserves on hand ............
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
No
b
If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..
14b
 
 
15
Is the organization subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or excess parachute payment(s) during the year? ....................
If "Yes," see the instructions and file Form 4720, Schedule N.
15
Yes
 
16
Is the organization an educational institution subject to the section 4968 excise tax on net investment income? ..
If "Yes," complete Form 4720, Schedule O.
16
 
No
17
Section 501(c)(21) organizations. Did the trust, or any disqualified or other person engage in any activities that would result in the imposition of an excise tax under section 4951, 4952, or 4953? ..
If "Yes," complete Form 6069.
17
 
 
Form 990 (2024)
Form 990 (2024)
Page 6
Part VI
Governance, Management, and Disclosure. For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response or note to any line in this Part VI..............
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year
1a
5
If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
b
Enter the number of voting members included in line 1a, above, who are independent
1b
4
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
Yes
 
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? .
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Did the organization have members or stockholders? ................
6
 
No
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................
7a
 
No
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................
7b
 
No
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .......................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If "Yes," provide the names and addresses in Schedule O.......
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)
Yes
No
10a
Did the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?
10b
 
 
11a
Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? ............................
11a
Yes
 
b
Describe on Schedule O the process, if any, used by the organization to review this Form 990. .....
12a
Did the organization have a written conflict of interest policy? If "No," go to line 13.......
12a
Yes
 
b
Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................
12b
Yes
 
c
Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe on Schedule O how this was done...................
12c
Yes
 
13
Did the organization have a written whistleblower policy? ...............
13
Yes
 
14
Did the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line 15a or 15b, describe the process on Schedule O. See instructions.
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
Yes
 
b
If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
Yes
 
Section C. Disclosure
17
List the states with which a copy of this Form 990 is required to be filed
HI
18
Section 6104 requires an organization to make its Form 1023 (1024 or 1024-A, if applicable), 990, and 990-T (section 501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
20
State the name, address, and telephone number of the person who possesses the organization's books and records:
LOUIS K ANDERSON567 S KING STREET SUITE 200   HONOLULU,HI96813 (808) 523-6200
Form 990 (2024)
Form 990 (2024)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response or note to any line in this Part VII..............
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See the instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (box 5 of Form W-2, box 6 of Form 1099-MISC, and/or box 1 of Form 1099-NEC) of more than $100,000 from the organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

See the instructions for the order in which to list the persons above.
Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W-2/1099-MISC/1099-NEC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(1) ELLIOT MILLS......................................................................
CHAIR/TRUSTEE
 10.00
.................
2.00 		X           222,826 0 0
(2) MICHELLE KA'UHANE......................................................................
TRUSTEE
 10.00
.................
2.00 		X           179,330 0 0
(3) JENNIFER GOODYEAR-KA'OPUA......................................................................
TRUSTEE
 10.00
.................
2.00 		X           174,330 0 0
(4) ROBERT NOBRIGA......................................................................
TRUSTEE
 10.00
.................
2.00 		X           166,830 0 0
(5) CRYSTAL ROSE......................................................................
TRUSTEE
 10.00
.................
2.00 		X           161,830 0 0
(6) L JACK WONG......................................................................
CEO
 50.00
.................
1.00 		    X       1,554,050 0 167,881
(7) DARREL HOKE......................................................................
EVP - ADMINISTRATION
 50.00
.................
1.00 		    X       549,810 0 82,961
(8) BENJAMIN SALAZAR......................................................................
VP OF FINANCE & CFO
 50.00
.................
1.00 		    X       448,324 0 69,744
(9) M NALANI FUJIMORI KAINA......................................................................
GENERAL COUNSEL & VP
 50.00
.................
0.00 		    X       468,134 0 44,624
(10) T KA'EO DUARTE......................................................................
VP OF AINA PAUAHI
 50.00
.................
1.00 		    X       453,756 0 58,353
(11) MIA OKINAGA......................................................................
VP, INTERNAL AUDIT
 50.00
.................
0.00 		    X       403,645 0 62,702
(12) M WAI'ALE'ALE ARROYO......................................................................
VP-HI'IALO/INT HEAD OF SCHOOL - KSK
 50.00
.................
0.00 		    X       354,370 0 64,786
(13) KEHAU ABAD......................................................................
VP OF S & E
 50.00
.................
0.00 		    X       330,491 0 42,220
(14) SHELLI KIM......................................................................
INT VP - HI'IALO FROM 3/25
 50.00
.................
0.00 		    X       287,082 0 38,593
(15) TIMOTHY DONOHUE......................................................................
CIO
 50.00
.................
1.00 		      X     2,389,226 0 78,068
(16) TARAN CHUN......................................................................
HEAD OF SCHOOL - KSK UNTIL 3/25
 50.00
.................
0.00 		      X     460,219 0 69,029
(17) M KAHEALANI NAE'OLE-WONG......................................................................
HEAD OF SCHOOL - BIG ISLAND
 50.00
.................
0.00 		      X     384,634 0 68,439
Form 990 (2024)
Form 990 (2024)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W-2/1099-MISC/1099-NEC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(18) SCOTT PARKER........................................................................
HEAD OF SCHOOL - MAUI
 50.00
.......................0.00 		      X     372,594 0 46,473
(19) BURTON YUEN........................................................................
MANAGING DIR. - FIN'L ASSETS
 50.00
.......................1.00 		        X   1,176,822 0 79,064
(20) CHRISTOPHER PICCIONE........................................................................
COO, FINANCIAL ASSETS
 50.00
.......................0.00 		        X   919,749 0 86,336
(21) JON IWATANI........................................................................
MANAGING DIR. - FIN'L ASSETS
 50.00
.......................1.00 		        X   923,449 0 68,379
(22) DAVID AMES........................................................................
MANAGING DIR. - FIN'L ASSETS
 50.00
.......................0.00 		        X   844,161 0 61,297
(23) JEFF HEIDSIECK........................................................................
MANAGING DIR. - FIN'L ASSETS
 50.00
.......................0.00 		        X   817,372 0 57,789
(24) SABRINA TOMA........................................................................
FORMER INT GENERAL COUNSEL & VP
 50.00
.......................0.00 		          X 254,524 0 52,737
(25) ANDREA KANNO-KALAMA........................................................................
FORMER INT VP COMM & CCO
 50.00
.......................0.00 		          X 222,220 0 30,130
(26) CARRIE SHODA-SUTHERLAND........................................................................
FORMER INTERIM VP S&T
 50.00
.......................0.00 		          X 187,075 0 49,145
(27) WALTER THOEMMES........................................................................
FMR MAN DIR COMM RE
 50.00
.......................0.00 		          X 389,359 0 66,473






1b Sub-Total..............
c Total from continuation sheets to Part VII, Section A..
d Total (add lines 1b and 1c)......... 15,096,212 0 1,445,223
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization 897
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If "Yes," complete Schedule J for such individual ..............
3
Yes
 
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such
individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If "Yes," complete Schedule J for such person ........
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
QUALITY GENERAL INC

99-1219 IWAENA ST RM 220E
AIEA,HI96701 		CONSTRUCTION 27,678,327
SWINERTON BUILDERS

841 BISHOP ST ST 500
HONOLULU,HI96813 		CONSTRUCTION 19,895,572
QUINN EMANUEL URQUHART & SULLIVAN LLP

50 CALIFORNIA STREET 22 FL
SAN FRANCISCO,CA94111 		LEGAL 12,096,700
UWORKCOM INC

200 WALKER ST SW STE B
ATLANTA,GA30313 		LABOR 9,876,469
WILLIAMS SCOTSMAN INC

91-282 KALAELOA BLVD
KAPOLEI,HI96707 		CONSTRUCTION 8,459,134
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 116
Form 990 (2024)
Form 990 (2024)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII.............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512 - 514
Contributions, Gifts, Grants, and OtherAmt Similar Amounts 1a Federated campaigns..1a  
b Membership dues..1b  
c Fundraising events..1c  
d Related organizations1d 524,618
e Government grants (contributions)1e  
f All other contributions, gifts, grants, and similar amounts not included above1f 87,790
g Noncash contributions included in lines 1a - 1f:$ 1g  
h Total. Add lines 1a-1f....... 612,408
Program Service RevenueAmt Business Code
2a TUITION 611600 42,210,913 42,210,913    
b STUDENT FEES 611600 7,573,501 7,573,501    
c BOOKSTORE 611600 382,731 382,731    
d OTHER 611600 157,072 157,072    
e
f All other program service revenue.        
g Total. Add lines 2a–2f ..... 50,324,217
OtherAmtRevenueAmt 3 Investment income (including dividends, interest, and othersimilar amounts) ...... 66,416,508   14,057,101 52,359,407
4 Income from investment of tax-exempt bond proceeds        
5 Royalties........... 1,215,035     1,215,035
(i) Real (ii) Personal
6a Gross rents 6a 297,257,793  
b Less: rental expenses 6b 166,993,764  
c Rental income or (loss) 6c 130,264,029  
d Net rental income or (loss)....... 130,264,029     130,264,029
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory 7a 4,239,884,915 65,768,411
b Less: cost or other basis and sales expenses 7b 3,641,986,015 8,967
c Gain or (loss) 7c 597,898,900 65,759,444
d Net gain or (loss)......... 663,658,344     663,658,344
8a Gross income from fundraising events (not including $   of contributions reported on line 1c). See Part IV, line 18 ....
8a 1,163,926
b Less: direct expenses ... 8b 418,527
c Net income or (loss) from fundraising events.. 745,399   745,399
9a Gross income from gaming activities.
See Part IV, line 19 ...
9a  
b Less: direct expenses ... 9b  
c Net income or (loss) from gaming activities..        
10a Gross sales of inventory, less
returns and allowances ..
10a  
b Less: cost of goods sold .. 10b  
c Net income or (loss) from sales of inventory..        
OtherRevenueMiscAmt
Business Code
11a GOLF REVENUE 713910 5,392,265   5,392,265  
b NET PREMIUMS EARNED 524126 3,596,036 3,595,722 314  
c PARKING 812930 2,848,474   2,095,213 753,261
d All other revenue .... 2,383,256 2,367,768 15,380 108
e Total. Add lines 11a–11d ...... 14,220,031
12 Total revenue. See instructions..... 927,455,971 56,287,707 21,560,273 848,995,583
Form 990 (2024)
Form 990 (2024)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).Check if Schedule O contains a response or note to any line in this Part IX..............
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising
expenses
1 Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 .... 36,715,017 36,715,017
2 Grants and other assistance to domestic individuals. See Part IV, line 22 ........... 70,088,416 70,088,416
3 Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............    
4 Benefits paid to or for members .......    
5 Compensation of current officers, directors, trustees, and key employees ........... 11,985,839 2,388,671 9,597,168  
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ......... 1,047,820 501,783 317,173 228,864
7 Other salaries and wages........ 250,260,957 164,284,463 84,251,999 1,724,495
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 22,102,703 14,509,378 7,441,021 152,304
9 Other employee benefits ....... 34,769,842 22,824,754 11,705,496 239,592
10 Payroll taxes ........... 18,520,981 12,158,147 6,235,211 127,623
11 Fees for services (non-employees):        
a Management ...... 816,933 118,895 698,038  
b Legal ......... 19,618,439   19,618,089 350
c Accounting ........... 821,486   821,486  
d Lobbying ........... 271,044   271,044  
e Professional fundraising services. See Part IV, line 17    
f Investment management fees ...... 26,842,747   26,842,747  
g Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) 58,578,228 20,256,674 38,139,390 182,164
12 Advertising and promotion .... 810,332 142,406 667,926  
13 Office expenses ....... 2,838,549 893,788 1,928,722 16,039
14 Information technology ...... 15,496,984 283,728 15,120,079 93,177
15 Royalties ..        
16 Occupancy ........... 13,709,687 10,371,930 3,335,676 2,081
17 Travel ............ 4,613,340 2,293,783 2,041,245 278,312
18 Payments of travel or entertainment expenses for any federal, state, or local public officials .        
19 Conferences, conventions, and meetings .... 1,201,067 744,061 455,646 1,360
20 Interest ........... 21,338,241   21,338,241  
21 Payments to affiliates .......        
22 Depreciation, depletion, and amortization .. 50,367,675 44,344,721 6,022,954  
23 Insurance ... 10,973,591 75,269 10,898,322  
24 Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a REPAIRS & MAINTENANCE 62,856,446 48,814,583 14,041,863  
b SUPPLIES 23,016,270 21,333,178 1,632,389 50,703
c BUSINESS EXPENSES 13,393,106 3,927,287 9,297,535 168,284
d OTHER STUDENT EXPENSES 8,893,212 5,697,794 3,195,005 413
e All other expenses -6,908,721 -4,515,420 -2,404,231 10,930
25 Total functional expenses. Add lines 1 through 24e 775,040,231 478,253,306 293,510,234 3,276,691
26 Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).        
Form 990 (2024)
Form 990 (2024)
Page 11
Part X
Balance Sheet
Check if Schedule O contains a response or note to any line in this Part IX..............
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash–non-interest-bearing ........ 12,200 1 14,819
2 Savings and temporary cash investments ......... 298,475,436 2 411,471,085
3 Pledges and grants receivable, net ......   3  
4 Accounts receivable, net ............. 156,099,490 4 161,367,411
5 Loans and other receivables from any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
  5  
6 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
  6  
7 Notes and loans receivable, net ........... 317,694 7 482,122
8 Inventories for sale or use ............   8  
9 Prepaid expenses and deferred charges ...... 139,985,151 9 146,583,822
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 1,938,241,997
b Less: accumulated depreciation 10b 1,099,372,275 827,243,707 10c 838,869,722
11 Investments—publicly traded securities . 434,435,981 11 566,506,351
12 Investments—other securities. See Part IV, line 11 ..... 10,130,707,580 12 10,681,114,425
13 Investments—program-related. See Part IV, line 11 ..   13  
14 Intangible assets ...............   14  
15 Other assets. See Part IV, line 11 ........... 183,938,591 15 194,255,330
16 Total assets. Add lines 1 through 15 (must equal line 33)... 12,171,215,830 16 13,000,665,087
Liabilities 17 Accounts payable and accrued expenses ..... 105,780,489 17 78,045,222
18 Grants payable ...   18  
19 Deferred revenue ......... 142,033,688 19 136,357,642
20 Tax-exempt bond liabilities .........   20  
21 Escrow or custodial account liability. Complete Part IV of Schedule D   21  
22 Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
  22  
23 Secured mortgages and notes payable to unrelated third parties .. 553,783,809 23 568,179,761
24 Unsecured notes and loans payable to unrelated third parties ..   24  
25 Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D 944,687,728 25 951,060,881
26 Total liabilities. Add lines 17 through 25.. 1,746,285,714 26 1,733,643,506
Net Assets or Fund Balance Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27 Net assets without donor restrictions .......... 10,424,930,116 27 11,267,021,581
28 Net assets with donor restrictions ...........   28  
Organizations that do not follow FASB ASC 958, check here right arrow and complete lines 29 through 33.
29 Capital stock or trust principal, or current funds .....   29  
30 Paid-in or capital surplus, or land, building or equipment fund ...   30  
31 Retained earnings, endowment, accumulated income, or other funds   31  
32 Total net assets or fund balances ........... 10,424,930,116 32 11,267,021,581
33 Total liabilities and net assets/fund balances ........ 12,171,215,830 33 13,000,665,087
Form 990 (2024)
Form 990 (2024)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response or note to any line in this Part XI..............
1
Total revenue (must equal Part VIII, column (A), line 12) ............
1
927,455,971
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
775,040,231
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
152,415,740
4
Net assets or fund balances at beginning of year (must equal Part X, line 32, column (A)) ..
4
10,424,930,116
5
Net unrealized gains (losses) on investments ...............
5
688,948,669
6
Donated services and use of facilities .................
6
 
7
Investment expenses .....................
7
 
8
Prior period adjustments .....................
8
 
9
Other changes in net assets or fund balances (explain in Schedule O) ........
9
727,056
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 32, column (B))
10
11,267,021,581
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response or note to any line in this Part XII.............
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain on
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?
2a
 
No
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:
b
Were the organization’s financial statements audited by an independent accountant?
2b
Yes
 
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:
c
If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
2c
Yes
 
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Uniform Guidance, 2 C.F.R. Part 200, Subpart F?
3a
 
No
b
If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.
3b
 
 
Form 990 (2024)
Form 990 (2024)
Additional Data


Software ID:  
Software Version:  
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE A
(Form 990)

Department of the Treasury
Internal Revenue Service
Public Charity Status and Public Support
Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
right arrow Attach to Form 990 or Form 990-EZ.
right arrow Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public
Inspection
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE PAUAHI
BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Part I
Reason for Public Charity Status (All organizations must complete this part.) See instructions.
The organization is not a private foundation because it is: (For lines 1 through 12, check only one box.)
1
2
3
4
5
6
7
8
9
10
11
12
a
b
c
d
e
f
Enter the number of supported organizations ...............................  
g
Provide the following information about the supported organization(s).
(i) Name of supported organization (ii) EIN (iii) Type of organization (described on lines 1- 10 above (see instructions)) (iv) Is the organization listed in your governing document? (v) Amount of monetary support (see instructions) (vi) Amount of other support (see instructions)
Yes No
Total
 
   
For Paperwork Reduction Act Notice, see the Instructions for
Form 990 or 990-EZ.
Cat. No. 11285F
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 2
Part II
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization failed to qualify under the tests listed below, please complete Part III.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2020 (b) 2021 (c) 2022 (d) 2023 (e) 2024 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") ..            
2 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf ....            
3 The value of services or facilities furnished by a governmental unit to the organization without charge..            
4 Total. Add lines 1 through 3            
5 The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f) ..  
6 Public support. Subtract line 5 from line 4.  
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2020 (b) 2021 (c) 2022 (d) 2023 (e) 2024 (f) Total
7 Amounts from line 4..            
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources...            
9 Net income from unrelated business activities, whether or not the business is regularly carried on..            
10 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.)..            
11 Total support. Add lines 7 through 10  
12
12
 
13
First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here ........................................right arrow
Section C. Computation of Public Support Percentage
14
14
 
15
15
 
16a
33 1/3% support test—2024. If the organization did not check the box on line 13, and line 14 is 33 1/3% or more, check this box
and stop here. The organization qualifies as a publicly supported organization .......................right arrow
b
33 1/3% support test—2023. If the organization did not check a box on line 13 or 16a, and line 15 is 33 1/3% or more, check this
box and stop here. The organization qualifies as a publicly supported organization ..................... right arrow
17a
10%-facts-and-circumstances test—2024. If the organization did not check a box on line 13, 16a, or 16b, and line 14 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow
b
10%-facts-and-circumstances test—2023. If the organization did not check a box on line 13, 16a, 16b, or 17a, and line 15 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow
18
Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 3
Part III
Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 10 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2020 (b) 2021 (c) 2022 (d) 2023 (e) 2024 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .            
2 Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose            
3 Gross receipts from activities that are not an unrelated trade or business under section 513 .....            
4 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...            
5 The value of services or facilities furnished by a governmental unit to the organization without charge            
6 Total. Add lines 1 through 5            
7a Amounts included on lines 1, 2, and 3 received from disqualified persons            
b Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.            
c Add lines 7a and 7b..            
8 Public support. (Subtract line 7c from line 6.)  
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2020 (b) 2021 (c) 2022 (d) 2023 (e) 2024 (f) Total
9 Amounts from line 6...            
10a Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..            
b Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.            
c Add lines 10a and 10b.            
11 Net income from unrelated business activities not included on line 10b, whether or not the business is regularly carried on.            
12 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) ..            
13 Total support. (Add lines 9, 10c, 11, and 12.)..            
14
First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here................................................. right arrow
Section C. Computation of Public Support Percentage
15
15
 
16
16
 
Section D. Computation of Investment Income Percentage
17
17
 
18
18
 
19a
33 1/3% support tests-2024. If the organization did not check the box on line 14, and line 15 is more than 33 1/3%, and line 17 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ....... right arrow
b
33 1/3 % support tests—2023. If the organization did not check a box on line 14 or line 19a, and line 16 is more than 33 1/3% and line 18 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ..... right arrow
20
Private foundation. If the organization did not check a box on line 14, 19a, or 19b, check this box and see instructions .... right arrow
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 4
Part IV
Supporting Organizations
(Complete only if you checked a box on line 12 of Part I. If you checked box 12a, of Part I, complete Sections A and B. If you checked box 12b, of Part I, complete Sections A and C. If you checked box 12c, of Part I, complete Sections A, D, and E. If you checked box12d, of Part I, complete Sections A and D, and complete Part V.)
Section A. All Supporting Organizations
Yes
No
1
Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.
1
 
 
2
Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).
2
 
 
3a
Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer lines 3b and 3c below.
3a
 
 
b
Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.
3b
 
 
c
Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.
3c
 
 
4a
Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked box 12a or 12b in Part I, answer lines 4b and 4c below.
4a
 
 
b
Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations.
4b
 
 
c
Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.
4c
 
 
5a
Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer lines 5b and 5c below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed; (ii) the reasons for each such action; (iii) the authority under the organization's organizing document authorizing such action; and (iv) how the action was accomplished (such as by amendment to the organizing document).
5a
 
 
b
Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?
5b
 
 
c
Substitutions only. Was the substitution the result of an event beyond the organization's control?
5c
 
 
6
Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (i) its supported organizations, (ii) individuals that are part of the charitable class benefited by one or more of its supported organizations, or (iii) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.
6
 
 
7
Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in section 4958(c)(3)(C)), a family member of a substantial contributor, or a 35% controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990) .
7
 
 
8
Did the organization make a loan to a disqualified person (as defined in section 4958) not described on line 7? If “Yes,” complete Part I of Schedule L (Form 990).
8
 
 
9a
Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons, as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.
9a
 
 
b
Did one or more disqualified persons (as defined on line 9a) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.
9b
 
 
c
Did a disqualified person (as defined on line 9a) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.
9c
 
 
10a
Was the organization subject to the excess business holdings rules of section 4943 because of section 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer line 10b below.
10a
 
 
b
Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).
10b
 
 
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 5
Part IV
Supporting Organizations (continued)
Yes
No
11
Has the organization accepted a gift or contribution from any of the following persons?
a
A person who directly or indirectly controls, either alone or together with persons described on lines 11b and 11c below, the governing body of a supported organization?
11a
 
 
b
A family member of a person described on 11a above?
11b
 
 
c
A 35% controlled entity of a person described on line 11a or 11b above? If “Yes” to 11a, 11b, or 11c, provide detail in Part VI.
11c
 
 
Section B. Type I Supporting Organizations
Yes
No
1
Did the officers, directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.
1
 
 
2
Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.
2
 
 
Section C. Type II Supporting Organizations
Yes
No
1
Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).
1
 
 
Section D. All Type III Supporting Organizations
Yes
No
1
Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (i) a written notice describing the type and amount of support provided during the prior tax year, (ii) a copy of the Form 990 that was most recently filed as of the date of notification, and (iii) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?
1
 
 
2
Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).
2
 
 
3
By reason of the relationship described in line 2 above, did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.
3
 
 
Section E. Type III Functionally-Integrated Supporting Organizations
1
Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):
a
b
c
2
Activities Test. Answer lines 2a and 2b below.
Yes
No
a
Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.
2a
 
 
b
Did the activities described on line 2a, above constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.
2b
 
 
3
Parent of Supported Organizations. Answer lines 3a and 3b below.
a
Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations?If "Yes" or "No", provide details in Part VI.
3a
 
 
b
Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI. the role played by the organization in this regard.
3b
 
 
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 6
Part V
Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations
1
Section A - Adjusted Net Income (A) Prior Year (B) Current Year
(optional)
1 Net short-term capital gain 1    
2 Recoveries of prior-year distributions 2    
3 Other gross income (see instructions) 3    
4 Add lines 1 through 3 4    
5 Depreciation and depletion 5    
6 Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) 6    
7 Other expenses (see instructions) 7    
8 Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) 8    
Section B - Minimum Asset Amount (A) Prior Year (B) Current Year
(optional)
1 Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): 1
a Average monthly value of securities 1a    
b Average monthly cash balances 1b    
c Fair market value of other non-exempt-use assets 1c    
d Total (add lines 1a, 1b, and 1c) 1d    
e Discount claimed for blockage or other factors
(explain in detail in Part VI):  
2 Acquisition indebtedness applicable to non-exempt use assets 2    
3 Subtract line 2 from line 1d 3    
4 Cash deemed held for exempt use. Enter 0.015 of line 3 (for greater amount, see instructions). 4    
5 Net value of non-exempt-use assets (subtract line 4 from line 3) 5    
6 Multiply line 5 by 0.035 6    
7 Recoveries of prior-year distributions 7    
8 Minimum Asset Amount (add line 7 to line 6) 8    
Section C - Distributable Amount Current Year
1 Adjusted net income for prior year (from Section A, line 8, Column A) 1  
2 Enter 85% of line 1 2  
3 Minimum asset amount for prior year (from Section B, line 8, Column A) 3  
4 Enter greater of line 2 or line 3 4  
5 Income tax imposed in prior year 5  
6 Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) 6  
7
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 7
Part V
Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations(continued)
Section D - Distributions Current Year
1 Amounts paid to supported organizations to accomplish exempt purposes 1  
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in
excess of income from activity 		2  
3 Administrative expenses paid to accomplish exempt purposes of supported organizations 3  
4 Amounts paid to acquire exempt-use assets 4  
5 Qualified set-aside amounts (prior IRS approval required - provide details in Part VI) 5  
6 Other distributions (describe in Part VI). See instructions 6  
7Total annual distributions. Add lines 1 through 6. 7  
8 Distributions to attentive supported organizations to which the organization is responsive (provide
details in Part VI). See instructions 		8  
9 Distributable amount for 2024 from Section C, line 6 9  
10 Line 8 amount divided by Line 9 amount 10  
Section E - Distribution Allocations (see instructions) (i)
Excess Distributions 		(ii)
Underdistributions
Pre-2024 		(iii)
Distributable
Amount for 2024
1 Distributable amount for 2024 from Section C, line 6  
2 Underdistributions, if any, for years prior to 2024 (reasonable cause required-- explain in Part VI).
See instructions.		  
3 Excess distributions carryover, if any, to 2024:
a From 2019.......  
b From 2020.......  
c From 2021.......  
d From 2022.......  
e From 2023.......  
fTotal of lines 3a through e  
g Applied to underdistributions of prior years  
h Applied to 2024 distributable amount  
i Carryover from 2019 not applied (see
instructions) 		 
j Remainder. Subtract lines 3g, 3h, and 3i from line 3f.  
4Distributions for 2024 from Section D, line 7:
$  
a Applied to underdistributions of prior years  
b Applied to 2024 distributable amount  
c Remainder. Subtract lines 4a and 4b from line 4.  
5 Remaining underdistributions for years prior to
2024, if any. Subtract lines 3g and 4a from line 2.
If the amount is greater than zero, explain in Part VI.
See instructions. 		 
6 Remaining underdistributions for 2024. Subtract
lines 3h and 4b from line 1. If the amount is greater
than zero, explain in Part VI. See instructions. 		 
7 Excess distributions carryover to 2025. Add lines
3j and 4c. 		 
8 Breakdown of line 7:
a Excess from 2020.....  
b Excess from 2021.....  
c Excess from 2022.....  
d Excess from 2023.....  
e Excess from 2024.....  
Schedule A (Form 990) (2024)

Schedule A (Form 990) 2024
Page 8
Part VI
Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
 
Return Reference Explanation
Schedule A (Form 990) 2024


Additional Data


Software ID:  
Software Version:  
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

right arrow Attach to Form 990, 990-EZ, or 990-PF.
right arrow Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE PAUAHI
BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ
501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization


Form 990-PF
501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation
Check if your organization is covered by the General Rule or a Special Rule.  
Note:  Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025) Page 2
Name of organization
TRUSTEES OF THE ESTATE OF BERNICE PAUAHI
BISHOP DBA KAMEHAMEHA SCHOOLS 		Employer identification number
99-0073480
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
RESTRICTED
 
 
 
 
  ,    

$ RESTRICTED


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

$  


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

$  


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

$  


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

$  


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

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 3
Name of organization
TRUSTEES OF THE ESTATE OF BERNICE PAUAHI
BISHOP DBA KAMEHAMEHA SCHOOLS 		Employer identification number

99-0073480
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 4
Name of organization
TRUSTEES OF THE ESTATE OF BERNICE PAUAHI
BISHOP DBA KAMEHAMEHA SCHOOLS 		Employer identification number

99-0073480
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  
SCHEDULE C
(Form 990)

Department of the Treasury
Internal Revenue Service
Political Campaign and Lobbying Activities

For Organizations Exempt From Income Tax Under section 501(c) and section 527

right arrow Complete if the organization is described below. right arrow Attach to Form 990 or Form 990-EZ.
right arrowGo to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public
Inspection
If the organization answered "Yes" on Form 990, Part IV, Line 3, or Form 990-EZ, Part V, line 46 (Political Campaign Activities), then
Round Bullet Section 501(c)(3) organizations: Complete Parts I-A and B. Do not complete Part I-C.
Round Bullet Section 501(c) (other than section 501(c)(3)) organizations: Complete Parts I-A and C below. Do not complete Part I-B.
Round Bullet Section 527 organizations: Complete Part I-A only.
If the organization answered "Yes" on Form 990, Part IV, Line 4, or Form 990-EZ, Part VI, line 47 (Lobbying Activities), then
Round Bullet Section 501(c)(3) organizations that have filed Form 5768 (election under section 501(h)): Complete Part II-A. Do not complete Part II-B.
Round Bullet Section 501(c)(3) organizations that have NOT filed Form 5768 (election under section 501(h)): Complete Part II-B. Do not complete Part II-A.
If the organization answered "Yes" on Form 990, Part IV, Line 5 (Proxy Tax) (see separate instructions) or Form 990-EZ, Part V, line 35c (Proxy Tax) (see separate instructions), then
Round Bullet Section 501(c)(4), (5), or (6) organizations: Complete Part III.
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE PAUAHI
BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Part I-A
Complete if the organization is exempt under section 501(c) or is a section 527 organization.

1
Provide a description of the organization’s direct and indirect political campaign activities in Part IV. See instructions for definition of “political campaign activities."

2
Political campaign activity expenditures. See instructions ....................................................................right arrow
$  
3
Volunteer hours for political campaign activities. See instructions ..................................................................
 

Part I-B
Complete if the organization is exempt under section 501(c)(3).
1
Enter the amount of any excise tax incurred by the organization under section 4955 ................................right arrow
$  
2
Enter the amount of any excise tax incurred by organization managers under section 4955 .......................right arrow
$  
3
If the organization incurred a section 4955 tax, did it file Form 4720 for this year? .........................................
4a
Was a correction made? ......................................................................................................................
b
If "Yes," describe in Part IV.
Part I-C
Complete if the organization is exempt under section 501(c), except section 501(c)(3).
1
Enter the amount directly expended by the filing organization for section 527 exempt function activities ..... right arrow
$  
2
Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt function activities ............................................................................................................................right arrow

$  
3
Total exempt function expenditures. Add lines 1 and 2. Enter here and on Form 1120-POL, line 17b...........right arrow

$  
4
Did the filing organization file Form 1120-POL for this year? ...................................................................
5
Enter the names, addresses and employer identification number (EIN) of all section 527 political organizations to which the filing
organization made payments. For each organization listed, enter the amount paid from the filing organization’s funds. Also enter the amount of political contributions received that were promptly and directly delivered to a separate political organization, such as a separate segregated fund or a political action committee (PAC). If additional space is needed, provide information in Part IV.
(a) Name (b) Address (c) EIN (d) Amount paid from filing organization's funds. If none, enter -0-. (e) Amount of political contributions received and promptly and directly delivered to a separate political organization. If none, enter -0-.
1
2
3
4
5
6
For Paperwork Reduction Act Notice, see the instructions for Form 990.
Cat. No. 50084S
Schedule C (Form 990) 2024

Schedule C (Form 990) 2024
Page 2
Part II-A
Complete if the organization is exempt under section 501(c)(3) and filed Form 5768 (election under section 501(h)).
A Check right arrowexpenses, and share of excess lobbying expenditures).
B Check right arrow
Limits on Lobbying Expenditures
(The term "expenditures" means amounts paid or incurred.) 		(a) Filing
organization's
totals 		(b) Affiliated group totals
1a Total lobbying expenditures to influence public opinion (grass roots lobbying) ...................... 0  
b Total lobbying expenditures to influence a legislative body (direct lobbying) ........................ 271,044  
c Total lobbying expenditures (add lines 1a and 1b) ............................................................ 271,044  
d Other exempt purpose expenditures ............................................................................... 771,173,151  
e Total exempt purpose expenditures (add lines 1c and 1d) .................................................. 771,444,195  
f Lobbying nontaxable amount. Enter the amount from the following table in both
columns.		 1,000,000  
If the amount on line 1e, column (a) or (b) is:The lobbying nontaxable amount is:
Not over $500,00020% of the amount on line 1e.
Over $500,000 but not over $1,000,000$100,000 plus 15% of the excess over $500,000.
Over $1,000,000 but not over $1,500,000$175,000 plus 10% of the excess over $1,000,000.
Over $1,500,000 but not over $17,000,000$225,000 plus 5% of the excess over $1,500,000.
Over $17,000,000$1,000,000.
g Grassroots nontaxable amount (enter 25% of line 1f) ................................................. 250,000  
h Subtract line 1g from line 1a. If zero or less, enter -0-. ................................................ 0  
i Subtract line 1f from line 1c. If zero or less, enter -0-. ................................................ 0  
j If there is an amount other than zero on either line 1h or line 1i, did the organization file Form 4720 reporting
section 4911 tax for this year? ...................................................................................................................

4-Year Averaging Period Under Section 501(h)
(Some organizations that made a section 501(h) election do not have to complete all of the five
columns below. See the separate instructions for lines 2a through 2f.)
Lobbying Expenditures During 4-Year Averaging Period
Calendar year (or fiscal year
beginning in) 		(a) 2021 (b) 2022 (c) 2023 (d) 2024 (e) Total
2a Lobbying nontaxable amount 1,000,000 1,000,000 1,000,000 1,000,000 4,000,000
b Lobbying ceiling amount
(150% of line 2a, column(e)) 		6,000,000
c Total lobbying expenditures 120,369 167,131 137,205 271,044 695,749
d Grassroots nontaxable amount 250,000 250,000 250,000 250,000 1,000,000
e Grassroots ceiling amount
(150% of line 2d, column (e))		 1,500,000
f Grassroots lobbying expenditures 519 0 0   519
Schedule C (Form 990) 2024


Schedule C (Form 990) 2024
Page 3
Part II-B
Complete if the organization is exempt under section 501(c)(3) and has NOT filed Form 5768 (election under section 501(h)).
For each "Yes" response on lines 1a through 1i below, provide in Part IV a detailed description of the lobbying activity.
(a)
Yes
No
(b)
Amount
1
During the year, did the filing organization attempt to influence foreign, national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of:
a
Volunteers? ...........................................................................................................
 
 
b
Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? ........
 
 
c
Media advertisements? ...................................................................................................
 
 
 
d
Mailings to members, legislators, or the public? .............................................................................
 
 
 
e
Publications, or published or broadcast statements? ...........................................................
 
 
 
f
Grants to other organizations for lobbying purposes? ..........................................................
 
 
 
g
Direct contact with legislators, their staffs, government officials, or a legislative body? .......................
 
 
 
h
Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? ..................
 
 
 
i
Other activities? ...................................................................................................................
 
 
 
j
Total. Add lines 1c through 1i ....................................................................................................
 
2a
Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? .....
 
 
b
If "Yes," enter the amount of any tax incurred under section 4912 ...........................................
 
c
If "Yes," enter the amount of any tax incurred by organization managers under section 4912 ...................
 
d
If the filing organization incurred a section 4912 tax, did it file Form 4720 for this year? ........................
 
 
Part III-A
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6).
Yes
No
1
Were substantially all (90% or more) dues received nondeductible by members? ...............................................
1
 
 
2
Did the organization make only in-house lobbying expenditures of $2,000 or less? ............................................
2
 
 
3
Did the organization agree to carry over lobbying and political expenditures from the prior year? .................................
3
 
 
Part III-B
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6) and if either (a) BOTH Part III-A, lines 1 and 2, are answered "No" OR (b) Part III-A, line 3, is answered “Yes."
1
Dues, assessments and similar amounts from members ......................................................................
1
 
2
Section 162(e) nondeductible lobbying and political expenditures (do not include amounts of political expenses for which the section 527(f) tax was paid).
a
Current year .............................................................................................................................
2a
 
b
Carryover from last year ............................................................................................................
2b
 
c
Total ...........................................................................................................................................
2c
 
3
Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues .
3
 
4
If notices were sent and the amount on line 2c exceeds the amount on line 3, what portion of the excess does the organization agree to carryover to the reasonable estimate of nondeductible lobbying and political expenditure next year? ......................................................................................................................
4
 
5
Taxable amount of lobbying and political expenditures. See Instructions .........................................
5
 
Part IV
Supplemental Information
Provide the descriptions required for Part l-A, line 1; Part l-B, line 4; Part l-C, line 5; Part II-A (affiliated group list); Part II-A, lines 1 and 2 (see instructions), and Part ll-B, line 1. Also, complete this part for any additional information.
Return Reference Explanation
Schedule C (Form 990) 2024


Additional Data


Software ID:  
Software Version:  

SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
right arrow Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
right arrow Attach to Form 990.
right arrow Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE PAUAHI
BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .........    
2 Aggregate value of contributions to (during year)    
3 Aggregate value of grants from (during year)    
4 Aggregate value at end of year ........    
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................
Part II
Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ...................... 2a  
b Total acreage restricted by conservation easements .................... 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after July 25, 2006, and not on a historic structure listed in the National Register ... 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year right arrow  
4
Number of states where property subject to conservation easement is located right arrow  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............
6
Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow  
7
Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................
9
In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:
(i)
Revenue included on Form 990, Part VIII, line 1 .........................right arrow $  
(ii)
Assets included in Form 990, Part X ...............................right arrow $ 598,707
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:
a
Revenue included on Form 990, Part VIII, line 1 ..........................right arrow $  
b
Assets included in Form 990, Part X ...............................right arrow $  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) (Rev. 1-2025)

Schedule D (Form 990) (Rev. 1-2025)
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?...
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b If "Yes," explain the arrangement in Part XIII and complete the following table: Amount
c Beginning balance ............................. 1c  
d Additions during the year ............................ 1d  
e Distributions during the year .......................... 1e  
f Ending balance ................................ 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ....
Part V
Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.
(a) Current year (b) Prior year (c) Two years back (d) Three years back (e) Four years back
1a Beginning of year balance .... 38,418,747 33,734,403 30,211,321 33,710,689 23,210,910
b Contributions ... 1,848,731 953,897 553,320 850,496 5,649,296
c Net investment earnings, gains, and losses 4,762,986 4,505,925 3,184,637 -4,016,657 5,408,822
d Grants or scholarships ... 788,199 775,478 214,875 333,207 558,339
e Other expenditures for facilities
and programs ... 		         
f Administrative expenses ....          
g End of year balance ...... 44,242,265 38,418,747 33,734,403 30,211,321 33,710,689
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment right arrow2.000 %
b
Permanent endowment right arrow98.000 %
c
Term endowment right arrow0 %
The percentages on lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) Unrelated organizations .................
3a(i)
 
No
(ii) Related organizations .................
3a(ii)
Yes
 
b
If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
Yes
 
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property (a) Cost or other basis
(investment) 		(b) Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .....   164,821,105 164,821,105
b Buildings ....   1,572,808,042 1,023,823,142 548,984,900
c Leasehold improvements        
d Equipment ....   114,941,740 75,202,773 39,738,967
e Other .....   85,671,110 346,360 85,324,750
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..right arrow 838,869,722
Schedule D (Form 990) (Rev. 1-2025)

Schedule D (Form 990) (Rev. 1-2025)
Page 3
Part VII
Investments - Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1) Financial derivatives.........    
(2) Closely-held equity interests........    
(3) Other
(A) EQUITY		 6,695,429,000 F

(B) ABSOLUTE RETURN		 3,100,704,000 F

(C) REAL ASSETS		 540,256,000 F

(D) OTHER		 344,725,425 F
(D)
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)right arrow 10,681,114,425
Part VIII
Investments - Program Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.
(a) Description of investment (b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)right arrow  
Part IX
Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.
(a) Description (b) Book value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........right arrow  
Part X
Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.
1.(a) Description of liability (b) Book value
(1) Federal income taxes  
WILDFIRE LEGAL CLAIMS ACCRUAL 855,000,000
ACCRUED POST RETIREMENT 54,993,728
DEFERRED COMPENSATION PLAN 10,048,966
SECURITY DEPOSITS 8,715,433
LEASE OPERATING 20,717,492
OTHER LIABILITIES 1,585,262



Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)right arrow 951,060,881
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII
Schedule D (Form 990) (Rev. 1-2025)

Schedule D (Form 990) (Rev. 1-2025)
Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total revenue, gains, and other support per audited financial statements ....... 1  
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains (losses) on investments .... 2a  
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ........... 2d  
e Add lines 2a through 2d ..................... 2e  
3 Subtract line 2e from line 1.................. 3  
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a  
b Other (Describe in Part XIII.) ........... 4b  
c Add lines 4a and 4b.................... 4c  
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5  
Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total expenses and losses per audited financial statements ........... 1  
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities ......... 2a  
b Prior year adjustments ............ 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIII.) ........... 2d  
e Add lines 2a through 2d.................... 2e  
3 Subtract line 2e from line 1................... 3  
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a  
b Other (Describe in Part XIII.) ........... 4b  
c Add lines 4a and 4b..................... 4c  
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5  
Part XIII
Supplemental Information
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference Explanation
PART III, LINE 4: ART COLLECTION THE KAMEHAMEHA SCHOOLS' FINE ARTS COLLECTION ("COLLECTION") INCLUDES OVER 500 ART PIECES THAT HAVE BEEN PURCHASED, COMMISSIONED, OR ACQUIRED THROUGH DONATIONS. THE PIECES RANGE FROM HISTORICAL TO CONTEMPORARY AND ENCOMPASS A BROAD SPECTRUM OF MEDIA INCLUDING SCULPTURE, DRAWING, PAINTING, PRINTING, AND PHOTOGRAPHY. KAMEHAMEHA SCHOOLS HAS IDENTIFIED THE FOLLOWING AS THE ROLE OF ART WITHIN THE INSTITUTION: - TO INSPIRE AND EDUCATE - TO FOSTER AN APPRECIATION AND RESPECT FOR ARTISTIC EXPRESSION - TO EMBODY THE ESSENCE OF NATIVE HAWAIIAN LANGUAGE, CULTURE, HISTORY, TRADITIONS, AND VALUES. THE COLLECTION SERVES AS A VALUABLE EDUCATIONAL RESOURCE FOR TEACHERS AND STUDENTS. THE ADMINISTRATION AND GOVERNANCE OF THE COLLECTION IS THE RESPONSIBILITY OF KAMEHAMEHA SCHOOLS' ENTERPRISE INFORMATION GOVERNANCE (EIG) DEPARTMENT. EIG WILL WORK WITH INTERNAL ADVISORY DEPARTMENTS, SUCH AS VISUAL ARTS, HERITAGE CENTER, AND KA'IWAKILOUMOKU, TO ALIGN THE EDUCATIONAL VALUE, CULTURAL SIGNIFICANCE, AND ARTISTIC MERIT OF THE COLLECTION WITH THE DEVELOPMENT AND ENFORCEMENT OF APPROPRIATE GOVERNANCE STANDARDS OF PRACTICE FOR FINE ART LIFECYCLE MANAGEMENT (FROM ACQUISITION TO DISPOSITION).
PART V, LINE 4: INTENDED USE OF ENDOWMENT FUNDS: THE KE ALI'I PAUAHI FOUNDATION, A RELATED SUPPORTING ORGANIZATION TO KAMEHAMEHA SCHOOLS, HOLDS AND ADMINISTERS CERTAIN ENDOWMENT FUNDS FOR THE PURPOSE OF AWARDING VARIOUS SCHOLARSHIPS AND FINANCIAL AID ON BEHALF OF KAMEHAMEHA SCHOOLS.
PART X, LINE 2: THE ORGANIZATION EVALUATES UNCERTAIN TAX POSITIONS UTILIZING A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. AT JUNE 30, 2025 AND 2024, MANAGEMENT BELIEVES THERE WERE NO SIGNIFICANT UNCERTAIN TAX POSITIONS.
SCHEDULE D, PART V, LINES 2A AND 2B ENDOWMENT PRESENTATION AND PERCENTAGES: THE PERCENTAGE SHOWN AS BOARD DESIGNATED OR QUASI-ENDOWMENT REPRESENTS ENDOWMENT NET ASSETS WITHOUT DONOR RESTRICTIONS. THE PERCENTAGE SHOWN AS PERMANENT ENDOWMENT REPRESENTS ENDOWMENT NET ASSETS WITH DONOR RESTRICTIONS INCLUDING THOSE WITH TEMPORARY RESTRICTIONS. THIS IS CONSISTENT WITH THE PRESENTATION OF NET ASSETS ON THE AUDITED FINANCIAL STATEMENTS, WHICH ARE CLASSIFIED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS.
Schedule D (Form 990) (Rev. 1-2025)


Additional Data


Software ID:  
Software Version:  




SCHEDULE E(Form 990)
(Rev. January 2025)


Department of the Treasury
Internal Revenue Service
Schools

Right pointing arrow large image Complete if the organization answered "Yes" on Form 990,
Part IV, line 13, or Form 990-EZ, Part VI, line 48.
Right pointing arrow large image Attach to Form 990 or Form 990-EZ.
Right pointing arrow large image Go to www.irs.gov/Form990EZ for instructions and the latest information.
OMB No. 1545-0047Open to Public Inspection
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE PAUAHI
BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Part I
YES
NO
1
Does the organization have a racially nondiscriminatory policy toward students by statement in its charter, bylaws,
other governing instrument, or in a resolution of its governing body? . . . . . . . . . . . . . . . . . .
1
Yes
 
2
Does the organization include a statement of its racially nondiscriminatory policy toward students in all its
brochures, catalogues, and other written communications with the public dealing with student admissions,
programs, and scholarships? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
Yes
 
3
Has the organization publicized its racially nondiscriminatory policy on its primary publicly accessible Internet homepage at
all times during its taxable year in a manner reasonably expected to be noticed by visitors to the homepage, or through
newspaper or broadcast media during the period of solicitation for students, or during the registration period if it has no
solicitation program, in a way that makes the policy known to all parts of the general community it serves? If "Yes," please
describe. If "No," please explain. If you need more space use Part II. . . . . . . . . . . . . . . . . . .
3
 
No
 
4
Does the organization maintain the following:
a
Records indicating the racial composition of the student body, faculty, and administrative staff? . . . . . . . . .
4a
Yes
 
b
Records documenting that scholarships and other financial assistance are awarded on a racially nondiscriminatory
basis? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4b
Yes
 
c
Copies of all catalogues, brochures, announcements, and other written communications to the public dealing
with student admissions, programs, and scholarships? . . . . . . . . . . . . . . . . . . . . . . .
4c
Yes
 
d
Copies of all material used by the organization or on its behalf to solicit contributions? . . . . . . . . . . . .
4d
Yes
 
If you answered "No" to any of the above, please explain. If you need more space, use Part II.
 
5
Does the organization discriminate by race in any way with respect to:
a
Students' rights or privileges? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5a
 
No
b
Admissions policies? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5b
 
No
c
Employment of faculty or administrative staff? . . . . . . . . . . . . . . . . . . . . . . . . .
5c
 
No
d
Scholarships or other financial assistance? . . . . . . . . . . . . . . . . . . . . . . . . . .
5d
 
No
e
Educational policies? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5e
 
No
f
Use of facilities? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5f
 
No
g
Athletic programs? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5g
 
No
h
Other extracurricular activities? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5h
 
No
If you answered "Yes" to any of the above, please explain. If you need more space, use Part II.
 
6a
Does the organization receive any financial aid or assistance from a governmental agency? . . . . . . . . . .
6a
 
No
b
Has the organization's right to such aid ever been revoked or suspended? . . . . . . . . . . . . . . . .
6b
 
No
If you answered "Yes" to either line 6a or line 6b, explain in Part II.
7
Does the organization certify that it has complied with the applicable requirements of sections 4.01 through 4.05
of Rev. Proc. 75-50, 1975-2 C.B. 587, as modified by Rev. Proc. 2019-22, 2019-22 I.R.B. 1260, covering racial nondiscrimination? If "No," explain in Part II. . . . . . . . . . . . . . . . . . . . . . . . . .
7
Yes
 
Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 50085D
Schedule E (Form 990) (Rev. 1-2025)
Schedule E (Form 990) (Rev. 1-2025)
Page 2
Part II
Supplemental Information. Provide the explanations required by Part I, lines 3, 4d, 5h, 6b, and 7, as applicable. Also provide
any other additional information. See instructions.
Return Reference Explanation
SCHEDULE E, PART I, LINE 3 KAMEHAMEHA SCHOOLS DRAWS ITS STUDENTS FROM LOCAL COMMUNITIES AND FOLLOWS A RACIALLY NONDISCRIMINATORY POLICY AS TO STUDENTS IN ACCORDANCE WITH IRS GUIDANCE INCLUDING REV. PROC. 75-50, SECTION 4.03(2)(C).
Schedule E (Form 990) (Rev. 1-2025)
Additional Data


Software ID:  
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SCHEDULE F(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Statement of Activities Outside the United States
Right arrow Complete if the organization answered "Yes" to Form 990, Part IV, line 14b, 15, or 16.Right arrow Attach to Form 990.Right arrow Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE PAUAHI
BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Part I
General Information on Activities Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 14b.
1
For grantmakers. Does the organization maintain records to substantiate the amount of its grants and
other assistance, the grantees’ eligibility for the grants or assistance, and the selection criteria used
to award the grants or assistance? . . . . . . . . . . . . . . . . . . . . . . . . .
2
For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of its grants and other assistance outside the United States.
3
Activites per Region. (The following Part I, line 3 table can be duplicated if additional space is needed.)
(a) Region (b) Number of offices in the region (c) Number of employees, agents, and independent contractors in the region (d) Activities conducted in region (by type) (such as, fundraising, program services, investments, grants to recipients located in the region) (e) If activity listed in (d) is a program service, describe specific type of
service(s) in the region		 (f) Total expenditures
for and investments
in the region
CENTRAL AMERICA AND THE CARIBBEAN     INVESTMENTS   3,120,875,766
EAST ASIA AND THE PACIFIC     INVESTMENTS   8,044,076
EUROPE (INCLUDING ICELAND & GREENLAND)     INVESTMENTS   16,311,203
NORTH AMERICA     INVESTMENTS   2,930,822
SUB-SAHARAN AFRICA     INVESTMENTS   152,753,240
           
           
           
           
           
           
           
           
           
           
           
           
3a Sub-total .... 0 0 3,300,915,107
b Total from continuation sheets to Part I ... 0 0 0
c Totals (add lines 3a and 3b) 0 0 3,300,915,107
For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) (Rev. 1-2025)
Schedule F (Form 990) (Rev. 1-2025)
Page 2
Part II
Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 15, for any recipient who received more than $5,000. Part II can be duplicated if additional space is needed.
1 (a) Name of organization (b) IRS code section
and EIN (if applicable)		 (c) Region (d) Purpose of
grant 		(e) Amount of
cash grant 		(f) Manner of
cash
disbursement 		(g) Amount
of noncash
assistance 		(h) Description
of noncash
assistance 		(i) Method of
valuation
(book, FMV,
appraisal, other)
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
2 Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter .......MediumBullet
 
3 Enter total number of other organizations or entities .......................MediumBullet
 
Schedule F (Form 990) (Rev. 1-2025)
Schedule F (Form 990) (Rev. 1-2025)Page 3
Part III
Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 16.
Part III can be duplicated if additional space is needed.
(a) Type of grant or assistance (b) Region (c) Number of recipients (d) Amount of
cash grant 		(e) Manner of cash
disbursement 		(f) Amount of
noncash
assistance 		(g) Description
of noncash
assistance 		(h) Method of
valuation
(book, FMV,
appraisal, other)
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
Schedule F (Form 990) (Rev. 1-2025)
Schedule F (Form 990) (Rev. 1-2025)
Page 4
Part IV
Foreign Forms
1 Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation (see Instructions for Form 926). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2 Did the organization have an interest in a foreign trust during the tax year? If "Yes," the organization may be required to separately file Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, and/or Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner (see Instructions for Forms 3520 and 3520-A; don't file with Form 990). . . . . . . . . . . . . . . . . . . . . . . .
3 Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 5471, Information Return of U.S. Persons with Respect to Certain Foreign Corporations. (see Instructions for Form 5471). . . . . . . . . . . . . . . . . . . . . . . . . . . .
4 Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If “Yes,” the organization may be required to file Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. (see Instructions for Form 8621) .
5 Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be required to file Form 8865, Return of U.S. Persons with Respect to Certain Foreign Partnerships (see Instructions for Form 8865). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6 Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be required to separately file Form 5713, International Boycott Report (see Instructions for Form 5713; don't file with Form 990).. . . . . . . . . . . . . . . . . . . . . . . . . . . .
Schedule F (Form 990) (Rev. 1-2025)
Schedule F (Form 990) (Rev. 1-2025)
Page 5
Part V
Supplemental Information
Provide the information required by Part I, line 2 (monitoring of funds); Part I, line 3, column (f) (accounting method; amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part III (accounting method); and Part III, column (c) (estimated number of recipients), as applicable. Also complete this part to provide any additional information. See instructions.
ReturnReference Explanation
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
Schedule F (Form 990) (Rev. 1-2025)
Additional Data


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SCHEDULE G (Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Supplemental Information Regarding
Fundraising or Gaming Activities
Complete if the organization answered "Yes" on Form 990, Part IV, lines 17, 18, or 19, or if the organization entered more than $15,000 on Form 990-EZ, line 6a. right arrowAttach to Form 990 or Form 990-EZ.
right arrowGo to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE PAUAHI
BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Part I
Fundraising Activities.Complete if the organization answered "Yes" on Form 990, Part IV, line 17.
Form 990-EZ filers are not required to complete this part.
1
Indicate whether the organization raised funds through any of the following activities. Check all that apply.
a e
b f
c g
d
2a
Did the organization have a written or oral agreement with any individual (including officers, directors, trustees
or key employees listed in Form 990, Part VII) or entity in connection with professional fundraising services?
b
If "Yes," list the 10 highest paid individuals or entities (fundraisers) pursuant to agreements under which the fundraiser is
to be compensated at least $5,000 by the organization.


(i) Name and address of individual
or entity (fundraiser) 		(ii) Activity (iii) Did fundraiser have custody or control of contributions? (iv) Gross receipts
from activity 		(v) Amount paid to
(or retained by)
fundraiser listed in
col. (i) 		(vi) Amount paid to
(or retained by)
organization
Yes No
             
             
             
             
             
             
             
             
             
             
Total . . . . . . . . . . . . . . . . . . . . right arrow      
3
List all states in which the organization is registered or licensed to solicit contributions or has been notified it is exempt from registration or licensing.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 50083H
Schedule G (Form 990) (Rev. 1-2025)
Schedule G (Form 990) (Rev. 1-2025)
Page 2
Part II
Fundraising Events. Complete if the organization answered "Yes" on Form 990, Part IV, line 18, or reported more than $15,000 of fundraising event contributions and gross income on Form 990-EZ, lines 1 and 6b. List events with gross receipts greater than $5,000.




VerticalRevenue
(a) Event #1

STUDENT ACTIVITY
(event type) 		(b) Event #2

 
(event type) 		(c) Other events

 
(total number) 		(d) Total events
(add col. (a) through col. (c))

1
Gross receipts . . . . .
1,163,926
 
 
1,163,926

2
Less: Contributions . . . .
 
 
 
 
3 Gross income (line 1 minus
line 2) . . . . . .
1,163,926
 
 
1,163,926



VerticalDirectExpenses
4 Cash prizes . . . . .        
5 Noncash prizes . . . .        
6 Rent/facility costs . . . .        
7 Food and beverages . . .        
8 Entertainment . . . .        
9 Other direct expenses . . . 418,527     418,527
10 Direct expense summary. Add lines 4 through 9 in column (d) . . . . . . . . . . right arrow 418,527
11 Net income summary. Subtract line 10 from line 3, column (d). . . . . . . . . . right arrow 745,399
Part III
Gaming. Complete if the organization answered "Yes" on Form 990, Part IV, line 19, or reported more than $15,000 on Form 990-EZ, line 6a.
VerticalRevenue
(a) Bingo (b) Pull tabs/Instant
bingo/progressive bingo 		(c) Other gaming (d) Total gaming (add col.(a) through col.(c))

1
Gross revenue . . . . .
 
 
 
 
VerticalDirectExpenses

2
Cash prizes . . . . .
 
 
 
 

3
Noncash prizes . . . .
 
 
 
 

4
Rent/facility costs . . . .
 
 
 
 

5
Other direct expenses . . .
 
 
 
 


6

Volunteer labor . . . .
%
%
%


7
Direct expense summary. Add lines 2 through 5 in column (d) . . . . . . . . . . right arrow
 

8
Net gaming income summary. Subtract line 7 from line 1, column (d). . . . . . . . . right arrow
 

9
Enter the state(s) in which the organization conducts gaming activities:
a
Is the organization licensed to conduct gaming activities in each of these states? . . . . . . . .
YesNo
b
If "No," explain:
 
10a
Were any of the organization's gaming licenses revoked, suspended or terminated during the tax year? . . .
YesNo
b
If "Yes," explain:
 
Schedule G (Form 990) (Rev. 1-2025)
Schedule G (Form 990) (Rev. 1-2025)
Page 3
11
Does the organization conduct gaming activities with nonmembers? . . . . . . . . . . .
YesNo
12
Is the organization a grantor, beneficiary or trustee of a trust or a member of a partnership or other entity
formed to administer charitable gaming? . . . . . . . . . . . . . . . . .
YesNo
13
Indicate the percentage of gaming activity conducted in:
a
The organization's facility . . . . . . . . . . . . . . . . . .
13a
%
b
An outside facility . . . . . . . . . . . . . . . . . . . .
13b
%
14
Enter the name and address of the person who prepares the organization's gaming/special events books and records:
Name right arrow
Address right arrow
15a
Does the organization have a contract with a third party from whom the organization receives gaming
revenue? . . . . . . . . . . . . . . . . . . . . . . . .
b
If "Yes," enter the amount of gaming revenue received by the organization right arrow $   and the
amount of gaming revenue retained by the third party right arrow $   .
c
If "Yes," enter name and address of the third party:
Name right arrow
Address right arrow
16
Gaming manager information:
Name right arrow
Gaming manager compensation right arrow $  
Description of services provided right arrow
 
17
Mandatory distributions:
a
Is the organization required under state law to make charitable distributions from the gaming proceeds to
retain the state gaming license? . . . . . . . . . . . . . . . . . . .
b
Enter the amount of distributions required under state law distributed to other exempt organizations or spent
in the organization's own exempt activities during the tax year right arrow$  
Part IV
Supplemental Information. Provide the explanations required by Part I, line 2b, columns (iii) and (v); and Part III, lines 9, 9b, 10b, 15b, 15c, 16, and 17b, as applicable. Also provide any additional information. See instructions.
Return Reference Explanation
Schedule G (Form 990) (Rev. 1-2025)
Additional Data


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Schedule I
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Grants and Other Assistance to Organizations,
Governments and Individuals in the United States
Complete if the organization answered "Yes," on Form 990, Part IV, line 21 or 22.
lBullet Attach to Form 990.
lBullet Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public
Inspection
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE PAUAHI
BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number
99-0073480
Part I
General Information on Grants and Assistance
1
Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ........................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" on Form 990, Part IV, line 21, for any recipient
that received more than $5,000. Part II can be duplicated if additional space is needed.
(a) Name and address of organization
or government		 (b) EIN (c) IRC section
(if applicable)		 (d) Amount of cash grant (e) Amount of non-cash
assistance		 (f) Method of valuation
(book, FMV, appraisal,
other)		 (g) Description of
noncash assistance		 (h) Purpose of grant
or assistance
(1) AFTER-SCHOOL ALL-STARS HAWAII
1523 KALAKAUA AVENUE
HONOLULU,HI96826 		27-4604870 501(C)(3) 160,000 0     EDUCATIONAL SUPPORT
(2) AHA PUNANA LEO
96 PUUHONU PL
HILO,HI96720 		99-0226111 501(C)(3) 1,412,681 0     EDUCATIONAL SUPPORT
(3) AHAHUI O NA KAUKA ASSOCIATION OF NATIVE HAWAIIAN PHYSICIANS
677 ALA MOANA BLVD
HONOLULU,HI96813 		99-0337991 501(C)(3) 25,000 0     EDUCATIONAL SUPPORT
(4) AKAULA SCHOOL
1000 KALAE HIGHWAY
KAUNAKAKAI,HI96748 		56-2393609 501(C)(3) 151,400 0     EDUCATIONAL SUPPORT
(5) ALU LIKE
2969 MAPUNAPUNA PL SUITE 200
HONOLULU,HI96819 		51-0151095 501(C)(3) 525,311 0     EDUCATIONAL SUPPORT
(6) ALU LIKE INC
550 PAIEA STREET
HONOLULU,HI96819 		51-0151095 501(C)(3) 296,947 0     EDUCATIONAL SUPPORT
(7) ASSETS SCHOOLS
ONE OHANA NUI WAY
HONOLULU,HI96818 		99-6001152 501(C)(3) 258,000 0     EDUCATIONAL SUPPORT
(8) AWAIAULU INC
2667 ANUU PLACE
HONOLULU,HI96819 		26-3841515 501(C)(3) 30,000 0     EDUCATIONAL SUPPORT
(9) BIG ISLAND SUBSTANCE ABUSE COUNCIL
16-179 MELEKAHIWA STREET
KEAAU,HI96749 		99-0118043 501(C)(3) 202,500 0     EDUCATIONAL SUPPORT
(10) BISHOP MUSEUM
1525 BERNICE STREET
HONOLULU,HI96817 		99-0161980 501(C)(3) 454,393 0     EDUCATIONAL SUPPORT
(11) BOYS & GIRLS CLUB OF THE BIG ISLAND
100 KAMAKAHONU STREET
HILO,HI96720 		81-0575345 501(C)(3) 242,000 0     EDUCATIONAL SUPPORT
(12) BOYS AND GIRLS CLUB OF HAWAII
1000 BISHOP STREET
HONOLULU,HI96813 		99-6005407 501(C)(3) 442,430 0     EDUCATIONAL SUPPORT
(13) CHAMINADE UNIVERSITY OF HONOLULU MISC
3140 WAIALAE AVE
HONOLULU,HI96816 		99-0272261 501(C)(3) 1,672,131 0     EDUCATIONAL SUPPORT
(14) CONSORTIUM FOR HAWAII ECOLOGICAL
2040 BACHELOT STREET
HONOLULU,HI96817 		99-0353084 501(C)(3) 127,444 0     EDUCATIONAL SUPPORT
(15) COUNCIL FOR NATIVE HAWAIIAN ADVANCEMENT
91-1207 KINOIKI STREET
KAPOLEI,HI96707 		91-0313383 501(C)(3) 340,000 0     EDUCATIONAL SUPPORT
(16) EA ECOVERSITY
PO BOX 431
HILO,HI96721 		88-1408564 501(C)(3) 177,000 0     EDUCATIONAL SUPPORT
(17) FRIENDS OF THE LEEWARD COAST PUBLIC
89-195 FARRINGTON HWY
WAIANAE,HI96792 		20-0090779 501(C)(3) 550,000 0     EDUCATIONAL SUPPORT
(18) HAEYC
1806 S KING STEET
HONOLULU,HI96826 		23-7425746 501(C)(3) 170,000 0     EDUCATIONAL SUPPORT
(19) HALAU KEALAOKAMAILE
PO BOX 881040
PUKALANI,HI96788 		99-0275732 501(C)(3) 700,000 0     EDUCATIONAL SUPPORT
(20) HALELEA ARTS FOUNDATION
47-636 UAKEA PLACE
KANEOHE,HI96744 		80-0439325 501(C)(3) 25,000 0     EDUCATIONAL SUPPORT
(21) HANA LAULIMA LAHUI O KAU INC
PO BOX 839
NAALEHU,HI96772 		99-0318869 501(C)(3) 87,500 0     EDUCATIONAL SUPPORT
(22) HANA RETREAT
PO BOX 489
HANA,HI96713 		30-0131313 501(C)(3) 50,000 0     EDUCATIONAL SUPPORT
(23) HAWAII ALLIANCE OF NONPROFIT
1020 SOUTH BERETANIA STREET
HONOLULU,HI96814 		99-0073497 501(C)(3) 150,000 0     EDUCATIONAL SUPPORT
(24) HAWAII FARMERS UNION FOUNDATION
PO BOX 1532
KAPAA,HI96746 		47-5653259 501(C)(3) 45,758 0     EDUCATIONAL SUPPORT
(25) HAWAII INVESTMENT READY
4545-A SIERRA DRIVE
HONOLULU,HI96816 		81-4611816 501(C)(3) 100,000 0     EDUCATIONAL SUPPORT
(26) HAWAIIKIDSCAN
PO BOX 450
KAILUA,HI96734 		27-3069592 501(C)(3) 25,000 0     EDUCATIONAL SUPPORT
(27) HOA AINA O MAKAHA
84-766 LAHAINA STREET
WAIANAE,HI96792 		99-0292821 501(C)(3) 117,500 0     EDUCATIONAL SUPPORT
(28) HOALA AINA KUPONO
PO BOX 300 304
KAAAWA,HI96730 		80-0359663 501(C)(3) 133,818 0     EDUCATIONAL SUPPORT
(29) HOMESTEAD COMMUNITY DEVELOPMENT CORP
PO BOX 646
ANAHOLA,HI96703 		27-2012662 501(C)(3) 162,500 0     EDUCATIONAL SUPPORT
(30) HOOKAKOO CORPORATION
1360 S BERETANIA STREET
HONOLULU,HI96814 		76-0717301 501(C)(3) 892,694 0     EDUCATIONAL SUPPORT
(31) HOOULU LAHUI
1437 KILAUEA AVENUE
HILO,HI96720 		99-0323345 501(C)(3) 309,010 0     EDUCATIONAL SUPPORT
(32) HUI HOOLEIMALUO
2306 KALANIANAOLE AVENUE
HILO,HI96720 		82-2529777 501(C)(3) 562,770 0     EDUCATIONAL SUPPORT
(33) HUI MALAMA I KE ALA ULILI
PO BOX 6
PAAUILO,HI96776 		37-1799081 501(C)(3) 137,500 0     EDUCATIONAL SUPPORT
(34) HUI MALAMA O KE KAI FOUNDATION
41-477 HIHIMANU STREET
WAIMANALO,HI96795 		99-0356784 501(C)(3) 58,050 0     EDUCATIONAL SUPPORT
(35) HUI O WA'A KAULUA
PO BOX 330258
KAHULUI,HI967330258 		99-0222917 501(C)(3) 72,862 0     EDUCATIONAL SUPPORT
(36) I OLA LAHUI INC
1441 KAPIOLANI BLVD
HONOLULU,HI96814 		20-8924382 501(C)(3) 25,000 0     EDUCATIONAL SUPPORT
(37) INSTITUTE FOR NATIVE PACIFIC EDUCATION &
1001 KAMOKILA BLVD
KAPOLEI,HI96707 		99-0315193 501(C)(3) 1,465,391 0     EDUCATIONAL SUPPORT
(38) ISLAND PACIFIC ACADEMY INC
909 HAUMEA ST
KAPOLEI,HI96707 		68-0534162 501(C)(3) 300,000 0     EDUCATIONAL SUPPORT
(39) ISLAND SCHOOL
3-1875 KAUMUALII HWY
LIHUE,HI96766 		99-0171474 501(C)(3) 542,500 0     EDUCATIONAL SUPPORT
(40) KA HULI O HALOA
PO BOX 1159
KANEOHE,HI967441159 		75-3115246 501(C)(3) 69,840 0     EDUCATIONAL SUPPORT
(41) KA IPU MAKANI CULTURAL HERITAGE CENTER
PO BOX 1077
KAUNAKAKAI,HI96748 		47-4947135 501(C)(3) 42,064 0     EDUCATIONAL SUPPORT
(42) KAALA FARM INC
PO BOX 630
WAIANAE,HI96792 		99-0242181 501(C)(3) 146,820 0     EDUCATIONAL SUPPORT
(43) KAHUA PAA MUA INC
PO BOX 896
KAPAAU,HI967550896 		45-3682506 501(C)(3) 119,000 0     EDUCATIONAL SUPPORT
(44) KAI LOA INC
46-500 KUNEKI ST
KANEOHE,HI96744 		20-1632545 501(C)(3) 131,241 0     EDUCATIONAL SUPPORT
(45) KAKOO OIWI
PO BOX 5307
KANEOHE,HI96744 		57-1236490 501(C)(3) 675,000 0     EDUCATIONAL SUPPORT
(46) KALANIHALE
89-1831 MILOLII ROAD
CAPTAIN COOK,HI96704 		46-0840554 501(C)(3) 85,189 0     EDUCATIONAL SUPPORT
(47) KANU O KA AINA LEARNING OHANA
PO BOX 6511
KAMUELA,HI96743 		99-0352665 501(C)(3) 499,066 0     EDUCATIONAL SUPPORT
(48) KAUAHEA INC
PO BOX 947
KILAUEA,HI96754 		84-2027061 501(C)(3) 87,500 0     EDUCATIONAL SUPPORT
(49) KAUAI PLANNING AND ACTION ALLIANCE
2959 UMI STREET
LIHUE,HI96766 		20-1579949 501(C)(3) 125,000 0     EDUCATIONAL SUPPORT
(50) KAULUAKALANA
PO BOX 833
KAILUA,HI96734 		83-3612121 501(C)(3) 160,500 0     EDUCATIONAL SUPPORT
(51) KAUNALEWA
PO BOX 334
KEKAHA,HI967520334 		85-1616385 501(C)(3) 341,905 0     EDUCATIONAL SUPPORT
(52) KE KULA NUI O WAIMANALO
PO BOX 723
WAIMANALO,HI96794 		82-3955043 501(C)(3) 87,500 0     EDUCATIONAL SUPPORT
(53) KE KULA O PIILANI
PO BOX 1934
WAILUKU,HI96793 		81-2656151 501(C)(3) 931,000 0     EDUCATIONAL SUPPORT
(54) KEAUKAHA ONE YOUTH DEVELOPMENT
67 KEOKEA LOOP
HILO,HI96720 		20-5386779 501(C)(3) 177,500 0     EDUCATIONAL SUPPORT
(55) KEIKI O KA AINA PRESCHOOL INC
3097 KALIHI STREET
HONOLULU,HI968193022 		99-0327534 501(C)(3) 408,000 0     EDUCATIONAL SUPPORT
(56) LONOA HONUA LLC
1114 AUWAE ROAD
HILO,HI96720 		85-0683057   100,000 0     EDUCATIONAL SUPPORT
(57) PARKWAY VILLAGE PRESCHOOL
689 MANAWAI STREET UNIT E114
KAPOLEI,HI96707 		99-0266482 GOVT ENTITY 1,081,102 0     EDUCATIONAL SUPPORT
(58) KOKUA KALIHI VALLEY COMPREHENSIVE
2239 NORTH SCHOOL STREET
HONOLULU,HI96819 		99-0149797 501(C)(3) 771,514 0     EDUCATIONAL SUPPORT
(59) KUALOA-HEEIA ECUMENICAL YOUTH PROJECT
47-200 WAIHEE RD
KANEOHE,HI96744 		99-0118209 501(C)(3) 130,000 0     EDUCATIONAL SUPPORT
(60) KUMANO I KE ALA O MAKAWELI
PO BOX 181
WAIMEA,HI96796 		47-3180959 501(C)(3) 102,500 0     EDUCATIONAL SUPPORT
(61) KUULANI KEOHOKALOLE
45-447 KANEOHE BAY DRIVE
KANEOHE,HI96744 		83-3483643 501(C)(3) 93,194 0     EDUCATIONAL SUPPORT
(62) LAIOPUA 2020
PO BOX 1764
KAILUA KONA,HI96745 		56-2638917 501(C)(3) 195,540 0     EDUCATIONAL SUPPORT
(63) LALAKEA FOUNDATION
2106 KAIWIKI ROAD
HILO,HI96720 		94-3272419 501(C)(3) 25,000 0     EDUCATIONAL SUPPORT
(64) LANAI CULTURE & HERITAGE CENTER
PO BOX 631500
LANAI CITY,HI96763 		76-0847875 501(C)(3) 77,190 0     EDUCATIONAL SUPPORT
(65) LEADERSHIP IN DISABILITIES & ACHIEVEMENT
245 N KUKUI STREET 205
HONOLULU,HI96817 		99-0119223 501(C)(3) 177,500 0     EDUCATIONAL SUPPORT
(66) LHES FOUNDATION
PO BOX 630633
LANAI CITY,HI96763 		45-3680782 501(C)(3) 83,500 0     EDUCATIONAL SUPPORT
(67) MA KA HANA KA IKE BUILDING PROGRAM
PO BOX 968
HANA,HI96713 		02-0556883 501(C)(3) 248,385 0     EDUCATIONAL SUPPORT
(68) MAKAPUU BODYBOARDING CLUB
41-256 NAKINI STREET
WAIMANALO,HI96795 		87-2084983 501(C)(3) 72,500 0     EDUCATIONAL SUPPORT
(69) MALAMA HONUA PUBLIC CHARTER SCHOOL
41-054 EHUKAI STREET
WAIMNALO,HI96795 		46-5734248 501(C)(3) 119,596 0     EDUCATIONAL SUPPORT
(70) MALAMA HULEIA
PO BOX 662092
LIHUE,HI96766 		47-1610214 501(C)(3) 90,850 0     EDUCATIONAL SUPPORT
(71) MALAMA LEARNING CENTER
PO BOX 1662
HONOLULU,HI968061662 		20-0442056 501(C)(3) 247,150 0     EDUCATIONAL SUPPORT
(72) MALAMA LOKO EA FOUNDATION
PO BOX 553
HALEIWA,HI96712 		27-1307663 501(C)(3) 119,400 0     EDUCATIONAL SUPPORT
(73) MAUI ECONOMIC DEVELOPMENT BOARD INC
1305 N HOLOPONO STREET
KIHEI,HI96753 		99-0226377 501(C)(3) 310,000 0     EDUCATIONAL SUPPORT
(74) MAUKA TO MAKAI MAKAHA FOUNDATION INC
84-814 MOUA STREET
MAKAHA,HI96792 		86-1745283 501(C)(3) 264,500 0     EDUCATIONAL SUPPORT
(75) MAULIOLA KEEHI
94-115 PUANANE LOOP
MILILANI,HI96789 		83-4690376 501(C)(3) 112,350 0     EDUCATIONAL SUPPORT
(76) MOLOKAI COMMUNITY SERVICE COUNCIL INC
PO BOX 2047
KAUNAKAKAI,HI96748 		23-7426312 501(C)(3) 60,000 0     EDUCATIONAL SUPPORT
(77) NA KAHU O HOAI INC
PO BOX 715
LAWAI,HI96765 		83-3691468 501(C)(3) 112,500 0     EDUCATIONAL SUPPORT
(78) NA KALAI WAA MOKU O KEAWE
65-1206 MAMALAHOA HWY BLD 1 SUITE
101
KAMUELA,HI96743 		99-0304846 501(C)(3) 772,440 0     EDUCATIONAL SUPPORT
(79) NA MAKA HALOA O WAIPIO
PO BOX 4001
HILO,HI96720 		91-2079670 501(C)(3) 86,960 0     EDUCATIONAL SUPPORT
(80) NA MAKA ONAONA
PO BOX 947
KILAUEA,HI96754 		84-2027061 501(C)(3) 227,988 0     EDUCATIONAL SUPPORT
(81) NA MAMO ALOHA AINA O HONOKOHAU
PO BOX 12022
LAHAINA,HI96761 		84-3838841 501(C)(3) 103,750 0     EDUCATIONAL SUPPORT
(82) NA PUUWAI
PO BOX 130
KAUNAKAKAI,HI96748 		99-0255760 501(C)(3) 25,000 0     EDUCATIONAL SUPPORT
(83) NATIONAL TROPICAL BOTANICAL GARDEN
3530 PAPALINA ROAD
KALAHEO,HI967419599 		52-6057064 501(C)(3) 146,598 0     EDUCATIONAL SUPPORT
(84) NATIVE NATIONS EDUCATION FOUNDATION
PO BOX 2478
HILO,HI96720 		48-1307077 501(C)(3) 261,909 0     EDUCATIONAL SUPPORT
(85) NURTURE CULTIVATE INC
200 N VINEYARD BLVD
HONOLULU,HI96817 		86-1661578 501(C)(3) 125,408 0     EDUCATIONAL SUPPORT
(86) PAPA KU MANA
2101 MAKIKI HEIGHTS DRIVE
HONOLULU,HI96822 		47-2189065 501(C)(3) 110,000 0     EDUCATIONAL SUPPORT
(87) PAPAHANA ALOHA AINA HAWAII
47-527 HENOHENO STREET
KANEOHE,HI96744 		83-4084667 501(C)(3) 146,200 0     EDUCATIONAL SUPPORT
(88) PAPAHANA KUAOLA
46-403 HAIKU ROAD
KANEOHE,HI96744 		20-2565007 501(C)(3) 148,852 0     EDUCATIONAL SUPPORT
(89) PARENTS AND CHILDREN TOGETHER
1300 HALONA STREET
HONOLULU,HI96817 		99-0119678 501(C)(3) 60,000 0     EDUCATIONAL SUPPORT
(90) PARTNERS IN DEVELOPMENT FOUNDATION
2040 BACHELOT STREET
HONOLULU,HI96817 		94-3271325 501(C)(3) 1,617,498 0     EDUCATIONAL SUPPORT
(91) PATCH - PEOPLE ATTENTIVE TO CHILDREN
560 N NIMITZ HWY
HONOLULU,HI96817 		99-0167464 501(C)(3) 125,000 0     EDUCATIONAL SUPPORT
(92) POUHANA CONSULTATION SERVICES
95-216 AUINA PLACE
MILILANI,HI96789 		88-3531527   99,910 0     EDUCATIONAL SUPPORT
(93) PURPLE MAIA FOUNDATION
98-820 MOANALUA ROAD 15-547
AIEA,HI96701 		46-4326249 501(C)(3) 642,847 0     EDUCATIONAL SUPPORT
(94) ST ANDREW'S SCHOOLS
224 QUEEN EMMA SQUARE
HONOLULU,HI96813 		99-0073525 501(C)(3) 529,000 0     EDUCATIONAL SUPPORT
(95) ST LOUIS SCHOOL
3142 WAIALAE AVENUE
HONOLULU,HI96816 		99-0272260 501(C)(3) 1,847,100 0     EDUCATIONAL SUPPORT
(96) STATE OF HAWAIIDOEKAU-KEAAU-PAHOA CMP
PO BOX 2360
HONOLULU,HI96804 		99-0266482 GOVT ENTITY 22,088 0     EDUCATIONAL SUPPORT
(97) STATE OF HAWAIIDOEOAHUHONOLULU DIST
PO BOX 2360
HONOLULU,HI96804 		99-0266482 GOVT ENTITY 96,347 0     EDUCATIONAL SUPPORT
(98) STATE OF HAWAIIDOEOAHUWINDWARD DIST
PO BOX 2360
HONOLULU,HI96804 		99-0266482 GOVT ENTITY 86,539 0     EDUCATIONAL SUPPORT
(99) SUPPORTING THE LANGUAGE OF KAUAI INC
3-1821J KAUMUALII HWY
LIHUE,HI96766 		20-4088998 501(C)(3) 175,935 0     EDUCATIONAL SUPPORT
(100) THE ESTRIA FOUNDATION
484 LAKE PARK AVE 667
OAKLAND,CA94610 		27-3639013 501(C)(3) 428,685 0     EDUCATIONAL SUPPORT
(101) THE KOHALA CENTER INC
PO BOX 437462
KAMUELA,HI97643 		99-0354676 501(C)(3) 247,632 0     EDUCATIONAL SUPPORT
(102) THE WAIPA FOUNDATION
PO BOX 1189
HANALEI,HI96714 		99-0313224 501(C)(3) 84,730 0     EDUCATIONAL SUPPORT
(103) ULU AE LEARNING CENTER
1120 KAKALA STREET 503
KAPOLEI,HI96707 		46-5123215 501(C)(3) 228,446 0     EDUCATIONAL SUPPORT
(104) UNIVERSITY OF HAWAII FOUNDATION
1314 SOUTH KING STREET
HONOLULU,HI96814 		99-0085260 501(C)(3) 790,000 0     EDUCATIONAL SUPPORT
(105) UNIVERSITY OF HAWAII MISC
2440 CAMPUS ROAD
HONOLULU,HI968222234 		99-6000354 501(C)(3) 1,015,634 0     EDUCATIONAL SUPPORT
(106) WAIANAE COMMUNITY RE-DEVELOPMENT CORP
PO BO 441
WAIANAE,HI96792 		99-0350803 501(C)(3) 421,095 0     EDUCATIONAL SUPPORT
(107) WAIMANALO HEALTH CENTER
41-1347 KALANIANAOLE HIGHWAY
WAIMANALO,HI96795 		99-0273205 501(C)(3) 12,500 0     EDUCATIONAL SUPPORT
(108) YMCA OF HAWAII ISLAND
145 ULULANI STREET
HILO,HI96720 		99-0079762 501(C)(3) 400,000 0     EDUCATIONAL SUPPORT
(109) KE ALI'I PAUAHI FOUNDATION
567 S KING ST
HONOLULU,HI96813 		94-3263044 501(C)(3) 411,046 0     ADMIN SUPPORT
2
Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................. Bullet Image
107
3
Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image
2
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) Rev. 1-2025

Schedule I (Form 990) Rev. 1-2025
Page 2
Part III
Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" on Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.
(a) Type of grant or assistance (b) Number of
recipients		 (c) Amount of
cash grant		 (d) Amount of
noncash assistance		 (e) Method of valuation (book,
FMV, appraisal, other)		 (f) Description of noncash assistance
(1) SCHOLARSHIPS - PRESCHOOL 1074 13,919,404      
(2) SCHOLARSHIPS - K-12 565 8,033,975      
(3) SCHOLARSHIPS - POST-HIGH 2385 10,205,408      
(4) STIPENDS - POST-HIGH 90 213,000      
(5) FIN. AID - KS STUDENTS PK-12 & SUMMER SCHOOL 7649 37,716,629      
(5)
(6)
(7)
Part IV
Supplemental Information. Provide the information required in Part I, line 2; Part III, column (b); and any other additional information.
Return Reference Explanation
PART I, LINE 2: GRANTS TO ORGANIZATIONS: THE GRANTS ARE MADE THROUGH A WRITTEN AGREEMENT WITH AT LEAST ANNUAL REPORTING REQUIREMENTS (PROGRAMMATIC AND FINANCIAL) BY THE ORGANIZATION WHO RECEIVES THE GRANT. IN ADDITION, KS CONDUCTS REGULAR CHECK-INS WITH GRANTEES AND MAY PERIODICALLY CHOOSE TO CONDUCT SITE VISITS TO HELP ENSURE THE OBJECTIVES OF THE GRANT ARE ACHIEVED AND ADDRESS ANY CHALLENGES/ISSUES ON A TIMELY BASIS. GRANTS TO INDIVIDUALS: (I) SCHOLARSHIPS: SCHOLARSHIPS ARE AWARDED TO STUDENTS WHO MEET ELIGIBILITY CRITERIA. FUNDS ARE DISBURSED DIRECTLY TO THE STUDENT'S ENROLLED SCHOOL AND APPLIED AGAINST THE COST OF ATTENDANCE. ANY UNUSED FUNDS ARE RETURNED TO KS. FOR COLLEGE SCHOLARSHIPS, PO'O KULA AWARDS MAY ALSO BE DISBURSED DIRECTLY TO THE AWARDEE TO COVER SCHOOL-RELATED COSTS SUCH AS TUITION, BOOKS, TRAVEL, HOUSING. (II) STIPENDS: STIPENDS ARE AWARDED AND DISBURSED DIRECTLY TO STUDENTS UPON COMPLETION OF HOURS THROUGH AN APPROVED INTERNSHIP, WHICH IS COORDINATED AND MONITORED BY KS STAFF. (III) FINANCIAL AID: FINANCIAL AID IS AWARDED ON A NON-DISCRIMINATORY BASIS TO CURRENTLY ENROLLED STUDENTS OF KS' PREK-12 PROGRAMS WHO DEMONSTRATE FINANCIAL NEED. THESE FUNDS COVER THE COST OF KS TUITION, MEALS, AND TRANSPORTATION.
Schedule I (Form 990) Rev. 1-2025



Additional Data


Software ID:  
Software Version:  


Schedule J
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
medium right arrow graphic Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
medium right arrow graphic Attach to Form 990.
medium right arrow graphic Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE PAUAHI
BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed on Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes on Line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain .....
1b
Yes
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked on Line 1a? ....
2
Yes
 
3
Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
4
During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? .............
4a
 
No
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........
4b
Yes
 
c
Participate in, or receive payment from, an equity-based compensation arrangement? .........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.
5
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ....................
5a
 
No
b
Any related organization? .......................
5b
 
No
If "Yes," on line 5a or 5b, describe in Part III.
6
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ..................
6a
 
No
b
Any related organization? ......................
6b
 
No
If "Yes," on line 6a or 6b, describe in Part III.
7
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
Yes
 
8
Were any amounts reported on Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III ..........................
8
 
No
9
If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) (Rev. 1-2025)

Schedule J (Form 990) (Rev. 1-2025)
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.
For each individual whose compensation must be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.
(A) Name and Title (B) Breakdown of W-2, 1099-MISC compensation, and/or 1099-NEC (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation in column (B) reported as deferred on prior Form 990
(i) Base
compensation 		(ii) Bonus & incentive
compensation 		(iii) Other reportable compensation
1TIMOTHY DONOHUE
CIO 		(i)

(ii)		 1,090,405
-------------
0 		1,295,959
-------------
0 		2,862
-------------
0 		55,950
-------------
0 		22,118
-------------
0 		2,467,294
-------------
0 		0
-------------
0
2L JACK WONG
CEO 		(i)

(ii)		 834,226
-------------
0 		599,200
-------------
0 		120,624
-------------
0 		140,059
-------------
0 		27,822
-------------
0 		1,721,931
-------------
0 		0
-------------
0
3BURTON YUEN
MANAGING DIR. - FIN'L ASSETS 		(i)

(ii)		 673,258
-------------
0 		500,000
-------------
0 		3,564
-------------
0 		55,650
-------------
0 		23,414
-------------
0 		1,255,886
-------------
0 		0
-------------
0
4CHRISTOPHER PICCIONE
COO, FINANCIAL ASSETS 		(i)

(ii)		 488,507
-------------
0 		430,000
-------------
0 		1,242
-------------
0 		56,400
-------------
0 		29,936
-------------
0 		1,006,085
-------------
0 		0
-------------
0
5JON IWATANI
MANAGING DIR. - FIN'L ASSETS 		(i)

(ii)		 519,705
-------------
0 		400,000
-------------
0 		3,744
-------------
0 		56,386
-------------
0 		11,993
-------------
0 		991,828
-------------
0 		0
-------------
0
6DAVID AMES
MANAGING DIR. - FIN'L ASSETS 		(i)

(ii)		 443,675
-------------
0 		400,000
-------------
0 		486
-------------
0 		51,587
-------------
0 		9,710
-------------
0 		905,458
-------------
0 		0
-------------
0
7JEFF HEIDSIECK
MANAGING DIR. - FIN'L ASSETS 		(i)

(ii)		 443,766
-------------
0 		370,000
-------------
0 		3,606
-------------
0 		56,566
-------------
0 		1,223
-------------
0 		875,161
-------------
0 		0
-------------
0
8DARREL HOKE
EVP - ADMINISTRATION 		(i)

(ii)		 497,397
-------------
0 		50,085
-------------
0 		2,328
-------------
0 		53,742
-------------
0 		29,219
-------------
0 		632,771
-------------
0 		0
-------------
0
9TARAN CHUN
HEAD OF SCHOOL - KSK UNTIL 3/25 		(i)

(ii)		 416,965
-------------
0 		41,895
-------------
0 		1,359
-------------
0 		42,262
-------------
0 		26,767
-------------
0 		529,248
-------------
0 		0
-------------
0
10BENJAMIN SALAZAR
VP OF FINANCE & CFO 		(i)

(ii)		 405,362
-------------
0 		41,000
-------------
0 		1,962
-------------
0 		41,620
-------------
0 		28,124
-------------
0 		518,068
-------------
0 		0
-------------
0
11M NALANI FUJIMORI KAINA
GENERAL COUNSEL & VP 		(i)

(ii)		 424,352
-------------
0 		42,000
-------------
0 		1,782
-------------
0 		34,986
-------------
0 		9,638
-------------
0 		512,758
-------------
0 		0
-------------
0
12T KA'EO DUARTE
VP OF AINA PAUAHI 		(i)

(ii)		 422,224
-------------
0 		29,750
-------------
0 		1,782
-------------
0 		32,732
-------------
0 		25,621
-------------
0 		512,109
-------------
0 		0
-------------
0
13MIA OKINAGA
VP, INTERNAL AUDIT 		(i)

(ii)		 401,323
-------------
0 		0
-------------
0 		2,322
-------------
0 		51,386
-------------
0 		11,316
-------------
0 		466,347
-------------
0 		0
-------------
0
14WALTER THOEMMES
FMR MAN DIR COMM RE 		(i)

(ii)		 387,037
-------------
0 		0
-------------
0 		2,322
-------------
0 		41,212
-------------
0 		25,261
-------------
0 		455,832
-------------
0 		0
-------------
0
15M KAHEALANI NAE'OLE-WONG
HEAD OF SCHOOL - BIG ISLAND 		(i)

(ii)		 346,312
-------------
0 		35,280
-------------
0 		3,042
-------------
0 		37,965
-------------
0 		30,474
-------------
0 		453,073
-------------
0 		0
-------------
0
16M WAI'ALE'ALE ARROYO
VP-HI'IALO/INT HEAD OF SCHOOL - KSK 		(i)

(ii)		 320,404
-------------
0 		32,634
-------------
0 		1,332
-------------
0 		35,194
-------------
0 		29,592
-------------
0 		419,156
-------------
0 		0
-------------
0
17SCOTT PARKER
HEAD OF SCHOOL - MAUI 		(i)

(ii)		 337,391
-------------
0 		33,421
-------------
0 		1,782
-------------
0 		36,556
-------------
0 		9,917
-------------
0 		419,067
-------------
0 		0
-------------
0
18KEHAU ABAD
VP OF S & E 		(i)

(ii)		 297,323
-------------
0 		30,000
-------------
0 		3,168
-------------
0 		18,014
-------------
0 		24,206
-------------
0 		372,711
-------------
0 		0
-------------
0
19SHELLI KIM
INT VP - HI'IALO FROM 3/25 		(i)

(ii)		 285,504
-------------
0 		0
-------------
0 		1,578
-------------
0 		28,193
-------------
0 		10,400
-------------
0 		325,675
-------------
0 		0
-------------
0
20SABRINA TOMA
FORMER INT GENERAL COUNSEL & VP 		(i)

(ii)		 250,936
-------------
0 		0
-------------
0 		3,588
-------------
0 		25,450
-------------
0 		27,287
-------------
0 		307,261
-------------
0 		0
-------------
0
21ANDREA KANNO-KALAMA
FORMER INT VP COMM & CCO 		(i)

(ii)		 221,541
-------------
0 		0
-------------
0 		679
-------------
0 		20,571
-------------
0 		9,559
-------------
0 		252,350
-------------
0 		0
-------------
0
22CARRIE SHODA-SUTHERLAND
FORMER INTERIM VP S&T 		(i)

(ii)		 186,595
-------------
0 		0
-------------
0 		480
-------------
0 		20,408
-------------
0 		28,737
-------------
0 		236,220
-------------
0 		0
-------------
0
23ELLIOT MILLS
CHAIR/TRUSTEE 		(i)

(ii)		 222,826
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		222,826
-------------
0 		0
-------------
0
24MICHELLE KA'UHANE
TRUSTEE 		(i)

(ii)		 179,330
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		179,330
-------------
0 		0
-------------
0
25JENNIFER GOODYEAR-KA'OPUA
TRUSTEE 		(i)

(ii)		 174,330
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		174,330
-------------
0 		0
-------------
0
26ROBERT NOBRIGA
TRUSTEE 		(i)

(ii)		 166,830
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		166,830
-------------
0 		0
-------------
0
27CRYSTAL ROSE
TRUSTEE 		(i)

(ii)		 161,830
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		161,830
-------------
0 		0
-------------
0
Schedule J (Form 990) (Rev. 1-2025)

Schedule J (Form 990) (Rev. 1-2025)
Page 3
Part III
Supplemental Information
Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.
Return Reference Explanation
PART I, LINE 1A THE HEAD OF SCHOOL FOR KAPALAMA CAMPUS IS PROVIDED HOUSING IN ACCORDANCE WITH SECTION 119 OF THE CODE BECAUSE THOSE IN THIS POSITION ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. THE RESIDENCE IS NOT TREATED AS TAXABLE COMPENSATION. IN ACCORDANCE WITH KS' TRAVEL POLICIES, TWO TRUSTEES, ONE KEY EMPLOYEE, AND THE TOP FIVE HIGHEST PAID EMPLOYEES FLEW FIRST CLASS FOR BUSINESS TRIPS THAT WERE TAKEN SOLELY TO FURTHER KS' CHARITABLE MISSION. THIS BENEFIT WAS PROPERLY TREATED AS NONTAXABLE.
PART I, LINE 4B L. "JACK" WONG RECEIVED A CONTRIBUTION OF $83,659 TO HIS SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN IN CALENDAR YEAR 2024. THIS AMOUNT IS INCLUDED IN COLUMN C OF SCHEDULE J, PART II.
PART I, LINE 7 THE CEO AND CURRENT OFFICERS' PERFORMANCE AND ACCOMPLISHMENTS ARE REVIEWED AND EVALUATED EACH YEAR BY THE BOARD OF TRUSTEES, WHO, AT THEIR DISCRETION, MAY PROVIDE A BONUS PAYMENT TO THE CEO AND/OR CURRENT OFFICERS COMMENSURATE WITH SUCH PERFORMANCE AND ACCOMPLISHMENTS. THE PERFORMANCE AND ACCOMPLISHMENTS OF OTHER EMPLOYEES ARE REVIEWED AND EVALUATED EACH YEAR BY THE CEO, WHO, AT HIS DISCRETION, MAY PROVIDE A BONUS PAYMENT TO OTHER EMPLOYEES COMMENSURATE WITH SUCH PERFORMANCE AND ACCOMPLISHMENTS.
SCHEDULE J, PART II, COLUMN (B)(II) CERTAIN INVESTMENT PROFESSIONALS RESPONSIBLE FOR THE INVESTMENT PORTFOLIO HAVE A PORTION OF THEIR COMPENSATION PLACED 'AT RISK AND AWARDED ONLY WHEN SPECIFIC INVESTMENT RETURN BENCHMARKS ARE MET OR EXCEEDED. INCENTIVE COMPENSATION IS BASED ON THE PORTFOLIO'S PRIOR FISCAL YEARS' PERFORMANCE, AND IT IS AWARDED IN THE CURRENT FISCAL YEAR. THE 'AT RISK' COMPENSATION PLAN IS ALIGNED WITH ENDOWMENT INDUSTRY STANDARDS.
Schedule J (Form 990) (Rev. 1-2025)

Additional Data


Software ID:  
Software Version:  
Schedule L
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Transactions with Interested Persons
Complete if the organization answered "Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c, or Form 990-EZ, Part V, line 38a or 40b.
Attach to Form 990 or Form 990-EZ.
Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE PAUAHI
BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Part I
Excess Benefit Transactions (section 501(c)(3), section 501(c)(4), and section 501(c)(29) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.
1(a) Name of disqualified person (b) Relationship between disqualified person and organization (c) Description of transaction (d) Corrected?
Yes No
2
Enter the amount of tax incurred by the organization managers or disqualified persons during the year under section 4958. ........................... $
 
3
Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ........ $
 

Part II
Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990-EZ, Part V, line 38a, or Form 990, Part IV, line 26; or if the organization reported an amount on Form 990, Part X, line 5, 6, or 22
(a) Name of interested person (b) Relationship with organization (c) Purpose of loan (d) Loan to or from the organization? (e) Original principal amount (f) Balance due (g) In default? (h) Approved by board or committee? (i) Written agreement?
To From Yes No Yes No Yes No
Total ............... $  
Part III
Grants or Assistance Benefiting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of assistance (d) Type of assistance (e) Purpose of assistance
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 50056A
Schedule L (Form 990) (Rev. 1-2025)
Schedule L (Form 990) (Rev. 1-2025)
Page 2
Part IV
Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of transaction (d) Description of transaction (e) Sharing of organization's revenues?
Yes No
(1) KAWIKA ROSE
  		SEE PART V 152,282 SEE PART V   No
Part V
Supplemental Information
Provide additional information for responses to questions on Schedule L (see instructions).
Return Reference Explanation
SCHEDULE L, PART IV, COLUMN (B) KAWIKA ROSE IS AN EMPLOYEE OF THE ORGANIZATION AND FAMILY MEMBER OF CRYSTAL ROSE, A TRUSTEE OF THE ORGANIZATION.
SCHEDULE L, PART IV, COLUMN (D) DESCRIPTION OF TRANSACTION: COMPENSATION
Schedule L (Form 990) (Rev. 1-2025)


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SCHEDULE O
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
 Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public
Inspection
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE PAUAHI
BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Return Reference Explanation
FORM 990, PART III, LINE 4A, DESCRIPTION OF PROGRAM SERVICE: FOR THE FISCAL YEAR ENDING JUNE 30, 2025, KAMEHAMEHA SCHOOLS' TOTAL EDUCATIONAL SPEND WAS $530 MILLION. EDUCATIONAL SPENDING AND LEARNERS SERVED INCLUDE: CAMPUSES: $311 MILLION SERVING 7,226 LEARNERS, AS FOLLOWS: - 30 PRESCHOOLS: $48 MILLION SERVING 1,683 LEARNERS. - K-12 CAMPUSES: $263 MILLION SERVING 5,543 LEARNERS FROM KAMEHAMEHA SCHOOLS HAWAI'I (1,190 LEARNERS), KAMEHAMEHA SCHOOLS MAUI (1,141 LEARNERS), AND KAMEHAMEHA SCHOOLS KAPALAMA (3,212 LEARNERS). COMMUNITY EDUCATION: $94.2 MILLION SERVING 47,873 LEARNERS, AS FOLLOWS: SCHOLARSHIPS: $32.8 MILLION SERVING 4,114 LEARNERS, INCLUDING: - $10.3 MILLION FOR EARLY LEARNING SCHOLARSHIPS SERVING 1,074 LEARNERS; - $4.8 MILLION FOR K-12 SCHOLARSHIPS SERVING 535 LEARNERS; AND - $17.7 MILLION FOR POST-HIGH SCHOLARSHIPS SERVING 2,505 LEARNERS. COMMUNITY INVESTMENTS: $61.4 MILLION SERVING 43,759 LEARNERS, INCLUDING: - $34.6 MILLION FOR INVESTMENTS IN 118 COMMUNITY ORGANIZATIONS SERVING 36,231 LEARNERS; AND - $26.8 MILLION FOR COMMUNITY ENGAGEMENTS, INTERNSHIPS, COLLEGE & CAREER COUNSELING, LEADERSHIP, AND OTHER PROGRAMMING SERVING 7,528 LEARNERS. OTHER EDUCATIONAL SPENDING: $125 MILLION FOR EDUCATIONAL INFRASTRUCTURE AND COSTS, INCLUDING CAPITAL, DEBT FINANCING AND RESERVES, AND SUPPORT SERVICES. THIS ALSO INCLUDES FINANCIAL AID AND WAIVERS OF $37.7 MILLION SERVING 5,770 LEARNERS (FROM OUR PRESCHOOLS AND K-12 CAMPUSES), AND ADDITIONAL COMMUNITY LEARNERS SERVED THROUGH VARIOUS EDUCATION PROGRAMS (3,021) AND 'AINA PAUAHI PROGRAMS (32,009). ADDITIONALLY, KAMEHAMEHA SCHOOLS (I) INVESTED $57.7 MILLION (NET OF AGRICULTURE RENTS) TO STEWARD AGRICULTURAL AND CONSERVATION 'AINA ACROSS HAWAI'I, AND (II) SUPPORTED AND CONTRIBUTED-ALONGSIDE MANY OTHERS-TO HEALING, RECOVERY, RESOLUTION, AND RESTORATION EFFORTS FOLLOWING THE LAHAINA WILDFIRES.
FORM 990, PART VI, SECTION A, LINE 2 BISHOP HOLDINGS CORPORATION - ELLIOT MILLS, CRYSTAL ROSE, JENNIFER GOODYEAR-KA'OPUA, MICHELLE KA'UHANE, AND ROBERT NOBRIGA (BUSINESS RELATIONSHIP - BISHOP HOLDINGS CORPORATION IS A SUBSIDIARY OF PARENT ORGANIZATION KAMEHAMEHA SCHOOLS AND THESE INDIVIDUALS SERVED ON THE BOARD) KAMEHAMEHA INVESTMENT CORPORATION - ELLIOT MILLS, CRYSTAL ROSE, JENNIFER GOODYEAR-KA'OPUA, MICHELLE KA'UHANE, AND ROBERT NOBRIGA (BUSINESS RELATIONSHIP - KAMEHAMEHA INVESTMENT CORPORATION IS A 2ND TIER SUBSIDIARY OF KAMEHAMEHA SCHOOLS AND THESE INDIVIDUALS SERVED ON THE BOARD) PAUAHI MANAGEMENT CORPORATION - ELLIOT MILLS, CRYSTAL ROSE, JENNIFER GOODYEAR-KA'OPUA, MICHELLE KA'UHANE, AND ROBERT NOBRIGA (BUSINESS RELATIONSHIP - PAUAHI MANAGEMENT CORPORATION IS A 2ND TIER SUBSIDIARY OF KAMEHAMEHA SCHOOLS AND THESE INDIVIDUALS SERVED ON THE BOARD)
FORM 990, PART VI, SECTION B, LINE 11B THE 5-STEP REVIEW PROCESS PRIOR TO THE RETURN BEING FILED CONSISTS OF THE FOLLOWING: (1) THE RETURN IS DRAFTED BY THE THIRD PARTY TAX RETURN PREPARER AND THEN REVIEWED BY THE TAX DEPARTMENT AND CONTROLLER'S DIVISION; (2) THE RETURN IS REVIEWED BY THE VICE PRESIDENT OF LEGAL, THE VICE PRESIDENT OF FINANCE AND CHIEF FINANCIAL OFFICER, COMMUNICATIONS DIVISION, AND THE CHIEF INVESTMENT OFFICER; (3) THE RETURN IS PROVIDED TO THE CEO FOR REVIEW; (4) A MEETING IS ARRANGED WITH THE CEO, REPRESENTATIVES FROM THE TAX DEPARTMENT AND THE THIRD PARTY TAX RETURN PREPARER TO REVIEW THE RETURN IN MORE DETAIL WITH THE CEO; (5) THE TAX DEPARTMENT, THE TAX RETURN PREPARER, AND THE CEO REVIEW THE RETURN IN DETAIL WITH THE TRUSTEES FOR FINAL APPROVAL.
FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE IS ACCOMPLISHED AS FOLLOWS: ACTION REQUIRING APPROVAL BY THE CEO OR TRUSTEES MUST BE SUBMITTED VIA AN INTERNAL FORM, REQUEST FOR ACTION ("RFA"), THAT INCLUDES A SECTION ON CONFLICT OF INTEREST REVIEW, WHICH IS CONDUCTED BY THE LEGAL DEPARTMENT AND ANY CONFLICTS ARE DISCLOSED ON THE RFA. A PERSON WITH A CONFLICT MAY NOT PARTICIPATE IN THE DECISION OR INVOLVEMENT IN THE MATTER. IN ORDER TO DO A CONFLICT CHECK, EACH YEAR THE LEGAL GROUP SENDS OUT A REQUEST TO THE TRUSTEES AND MEMBERS OF EXECUTIVE MANAGEMENT TO COMPLETE AN ANNUAL DISCLOSURE FORM IN WHICH THEY DISCLOSE THEIR FAMILY MEMBERS AND ORGANIZATIONS IN WHICH THEY ARE SHAREHOLDERS (OTHER THAN PUBLICLY TRADED COMPANIES) OR WHERE THEY SERVE AS AN OFFICER OR DIRECTOR. INDIVIDUALS ARE REQUIRED TO REPORT ANY CHANGES TO THEIR ANNUAL DISCLOSURE DURING THE YEAR TO LEGAL. THE LEGAL GROUP THEN MAINTAINS A DATABASE OF THE DISCLOSURES FOR USE IN DETERMINING WHETHER AN INDIVIDUAL HAS A CONFLICT IN A DECISION BEFORE HIM OR HER. FOR DECISIONS DELEGATED TO VICE PRESIDENTS OR STAFF BELOW A VICE PRESIDENT, THE RFA REQUIRES DISCLOSURE OF THIRD PARTIES INVOLVED IN THE MATTER TO BE APPROVED AND THE REQUESTOR MUST THEN CONDUCT A CONFLICT CHECK AND NOTE WHETHER THERE IS ANY CONFLICT. THOSE WHO HAVE A CONFLICT MAY NOT APPROVE THE TRANSACTION.
FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION IS APPROVED EACH YEAR BY THE BOARD OF TRUSTEES. AS PART OF THE APPROVAL PROCESS, THE HUMAN RESOURCE DIVISION OF KS PREPARES AN INTERNAL DOCUMENT (A REQUEST FOR APPROVAL, THE "RFA") FOR THE TRUSTEES' APPROVAL. THE RFA INCLUDES A CURRENT COMPENSATION REPORT WITH BENCHMARKS AND COMPARABILITY DATA PREPARED BY AN INDEPENDENT EXPERT, UNLESS THE REQUESTED COMPENSATION IS WITHIN THE COMPARABILITY INFORMATION PROVIDED BY THE EXPERT FROM THE PREVIOUS YEAR. THE RFA ALSO INCLUDES JUSTIFICATION FOR THE RECOMMENDED COMPENSATION. THE TRUSTEES THEN REVIEW THE RFA, DELIBERATE AND MAKE A DECISION. THE MINUTES OF THE TRUSTEES' MEETING AND DECISIONS ARE RETAINED. THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED IN THE SAME MANNER AS ABOVE FOR THE CEO.
FORM 990, PART VI, SECTION C, LINE 19 EACH YEAR THE TRUSTEES OF THE ESTATE OF BERNICE PAUAHI BISHOP DBA KAMEHAMEHA SCHOOLS MUST SUBMIT THEIR ACCOUNT FOR THE YEAR TO THE PROBATE COURT IN HONOLULU, HAWAII FOR APPROVAL. AS PART OF THAT PROCESS, THE GOVERNING DOCUMENT (THE WILL AND CODICILS) AND THE AUDITED FINANCIAL STATEMENTS ARE PUBLICLY AVAILABLE AND CAN ALSO BE PROVIDED UPON REQUEST. THE CONFLICT OF INTEREST POLICY IS NOT AVAILABLE TO THE PUBLIC.
FORM 990, PART VII, LINE 1A, COLUMN (B): THE ACTUAL NUMBER OF HOURS PER WEEK DEVOTED TO POSITION RANGES FROM 40 TO 60 HOURS FOR OFFICERS AND KEY EMPLOYEES. THE AVERAGE HOURS THAT THE TRUSTEES SPEND ON KAMEHAMEHA SCHOOLS BUSINESS MATTERS RANGES FROM 10-20 HOURS PER WEEK, WHICH INCLUDES ATTENDANCE AT THEIR REGULAR MEETINGS AND MEETINGS OF THE AUDIT COMMITTEE, AS WELL AS PARTICIPATION AND ATTENDANCE AT OTHER SCHOOL EVENTS SUCH AS GRADUATION, SCHOOL PERFORMANCES, ATHLETIC EVENTS, CULTURAL ENGAGEMENTS, AND ALUMNI EVENTS. IN ADDITION, AS AMBASSADORS OF KAMEHAMEHA SCHOOLS, THE TRUSTEES MAY DEVOTE ADDITIONAL TIME TO VARIOUS COMMUNITY LAHUI EVENTS AND ACTIVITIES. THE ACTUAL NUMBER OF HOURS PER WEEK DEVOTED TO RELATED ORGANIZATIONS BY ALL PERSONS LISTED IN PART VII RANGE FROM LESS THAN ONE HOUR PER WEEK TO TWO HOURS PER WEEK PER RELATED ORGANIZATION.
FORM 990, PART XI, LINE 9: EQUITY IN EARNINGS OF SUBSIDIARIES 2,975,811. CUM. EFFECT OF CHANGE IN ACCOUNTING PRINCIPLES -2,248,755.
FORM 990, PART XII, LINE 2B AND PART IV, LINE 12: THE INDEPENDENTLY AUDITED FINANCIAL STATEMENTS OF KAMEHAMEHA SCHOOLS ARE CONSOLIDATED WITH THOSE OF ITS WHOLLY-OWNED SUBSIDIARIES (E.G. BISHOP HOLDINGS CORPORATION, ETC.) AND THEREFORE NOT ISSUED ON A SEPARATE BASIS.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990) (Rev. 1-2025)


Additional Data


Software ID:  
Software Version:  
SCHEDULE R
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
Complete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
Attach to Form 990.
Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047
Open to Public Inspection
Name of the organization
TRUSTEES OF THE ESTATE OF BERNICE PAUAHI
BISHOP DBA KAMEHAMEHA SCHOOLS
Employer identification number

99-0073480
Part I
Identification of Disregarded Entities. Complete if the organization answered "Yes" on Form 990, Part IV, line 33.
(a)
Name, address, and EIN (if applicable) of disregarded entity


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Total income


 		(e)
End-of-year assets


 		(f)
Direct controlling
entity
(1) P&C INSURANCE COMPANY LLC
745 FORT STREET
HONOLULU,HI96813
99-0315757 		INSURANCE HI 4,570,723 18,331,139 TRUSTEES OF THE ESTATE OF BERNICE PAUAHI BISHOP
 
(2) KALOKO'ELI PROPERTIES LLC
567 S KING ST 200
HONOLULU,HI96813
47-5464058 		REAL ESTATE HI 1,791,962 19,447,310 TRUSTEES OF THE ESTATE OF BERNICE PAUAHI BISHOP
 
(3) GE HAWAII BLOCK A2 HOLDING LLC
567 S KING ST 200
HONOLULU,HI96813
81-1329814 		INVESTMENTS DE 6,778,634 70,902,936 TRUSTEES OF THE ESTATE OF BERNICE PAUAHI BISHOP
 
(4) GE HAWAII BLOCK A2 LLC
567 S KING ST 200
HONOLULU,HI96813
32-0466906 		INVESTMENTS DE 6,778,634 70,902,936 GE HAWAII BLOCK A2 HOLDING LLC
 




Part II
Identification of Related Tax-Exempt Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.
(a)
Name, address, and EIN of related organization


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Exempt Code section


 		(e)
Public charity status
(if section 501(c)(3))

 		(f)
Direct controlling
entity

 		(g)
Section 512(b)(13) controlled entity?
Yes No
(1)KE ALI'I PAUAHI FOUNDATION
567 S KING ST 160

HONOLULU,HI96813
94-3263044 		FUNDRAISING HI 501(C)(3) 12A, I TRUSTEES OF THE ESTATE OF BERNICE PAUAHI BISHOP
 
Yes
 
(2)CHARLES REED BISHOP TRUST
PO BOX 3466

HONOLULU,HI96801
99-6005262 		SUPPORT ORG. HI 501(C)(3) 12D, III-O TRUSTEES OF THE ESTATE OF BERNICE PAUAHI BISHOP
 
Yes
 










For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) (Rev. 1-2025)
Schedule R (Form 990) (Rev. 1-2025)
Page 2
Part III
Identification of Related Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, because it had one or more related organizations treated as a partnership during the tax year.
(a)
Name, address, and EIN of
related organization



 		(b)
Primary activity




 		(c)
Legal
domicile
(state or foreign
country)


 		(d)
Direct controlling
entity



 		(e)
Predominant income(related, unrelated, excluded from tax under sections 512-514)

(f)
Share of total income




 		(g)
Share of end-of-year
assets



 		(h)
Disproprtionate allocations?




 		(i)
Code V-UBI
amount in box 20 of
Schedule K-1
(Form 1065)
 		(j)
General or
managing
partner?



 		(k)
Percentage
ownership
Yes No Yes No
(1) SINO FINANCE GROUP LLC

PO BOX 3466
HONOLULU,HI96801
99-0324938 		INTL BUS IN CHINA DE KS
  		EXCLUDED 676,830 6,679,580   No     No 90.480 %
(2) KAYNE KS CREDIT FUND LP

1800 AVE OF THE STARS
LOS ANGELES,CA90067
35-2507517 		INVESTMENTS DE KS
  		EXCLUDED -377,850 15,344,666   No     No 99.670 %
(3) CRESCENTKAMEHAMEHA SCHOOLS PARTNERSHIP

1100 SANTA MONICA BLVD
LOS ANGELES,CA90401
46-4668874 		INVESTMENTS DE KS
  		EXCLUDED 358,962 45,748,080   No     No 99.980 %
(4) KURAMO AFRICA OPPORTUNITY FUND LP

500 5TH AVE
NEW YORK,NY10110
45-2495612 		INVESTMENTS DE KS
  		EXCLUDED -875,007 9,378,147   No     No 83.630 %
(5) ORION MINE FINANCE (DELAWARE) FUND I-A LP

1211 AVE OF THE AMERICAS
NEW YORK,NY10036
46-5243062 		INVESTMENTS DE KS
  		EXCLUDED 4,162,189 4,345,145   No     No 64.210 %
(6) CSKS OPPORTUNITIES FUND LP

575 LEXINGTON AVE
NEW YORK,NY10022
82-4067070 		INVESTMENTS DE KS
  		EXCLUDED 9,017,270 11,661,930   No 476,979   No 95.630 %
(7) KSOH LLC

2003 WESTERN AVE
SEATTLE,WA98121
83-4182235 		INVESTMENTS DE KS
  		EXCLUDED 2,688,114 26,540,129   No     No 98.900 %
(8) KSBCS FUND LP

209 ORANGE ST
WILMINGTON,DE19801
88-2425768 		INVESTMENTS DE KS
  		EXCLUDED 43,234 3,075,542   No -13,504   No 100.000 %
Part IV
Identification of Related Organizations Taxable as a Corporation or Trust. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.
(a)
Name, address, and EIN of
related organization
 		(b)
Primary activity
 		(c)
Legal
domicile
(state or foreign
country)
 		(d)
Direct controlling
entity
 		(e)
Type of entity
(C corp, S corp,
or trust) 		(f)
Share of total income
 		(g)
Share of end-of-year
assets
 		(h)
Percentage
ownership
 		(i)
Section 512(b)(13) controlled entity?
Yes No
(1) BISHOP HOLDINGS CORPORATION

567 S KING ST 150
HONOLULU,HI96813
99-0335777 		HOLDING COMPANY HI KS
  		C 510,129 15,775,990 100.000 % Yes  
(2) PAUAHI MANAGEMENT CORPORATION

567 S KING ST 150
HONOLULU,HI96813
99-0335778 		PROPERTY MGMT HI BISHOP HOLDINGS CORPORATION
  		C       Yes  
(3) KAMEHAMEHA INVESTMENT CORPORATION

567 S KING ST 150
HONOLULU,HI96813
99-0115292 		RE DEV/INVESTMENT HI BISHOP HOLDINGS CORPORATION
  		C       Yes  
(4) KBH INC

567 S KING ST 150
HONOLULU,HI96813
99-0334862 		RE ASSET MGMT HI PAUAHI MANAGEMENT CORPORATION
  		C       Yes  
(5) KEAUHOU COMMUNITY SERVICES INC

567 S KING ST 150
HONOLULU,HI96813
99-0291186 		WASTEWATER TRMT HI KAMEHAMEHA INVESTMENT CORPORATION
  		C       Yes  
(6) KAUPULEHU FOUNDATION

567 S KING ST 200
HONOLULU,HI96813
46-2780038 		LAND MANAGEMENT HI KS
  		C 169,550 138,821 100.000 % Yes  
(7) KAIAULU'O KAKA'AKO OWNERS ASSOC INC

PO BOX 3466
HONOLULU,HI96801
47-2928115 		OWNER ASSOCIATION HI KS
  		C 390,346 386,730 100.000 % Yes  
(8) KAMVUS FUND

BLK 6 INT FIN SVCS CTR
DUBLIN   EI-1
EI
INVESTMENTS EI KS
  		C 94,380,602 336,179,156 100.000 % Yes  
Schedule R (Form 990) (Rev. 1-2025)
Schedule R (Form 990) (Rev. 1-2025)
Page 3
Part V
Transactions With Related Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.
Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.
Yes
No
1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?
a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity .....................
1a
 
No
b Gift, grant, or capital contribution to related organization(s) ............................
1b
Yes
 
c Gift, grant, or capital contribution from related organization(s) ............................
1c
Yes
 
d Loans or loan guarantees to or for related organization(s) ............................
1d
 
No
e Loans or loan guarantees by related organization(s) ............................
1e
 
No
f Dividends from related organization(s) ............................
1f
 
No
g Sale of assets to related organization(s) ............................
1g
 
No
h Purchase of assets from related organization(s) ............................
1h
 
No
i Exchange of assets with related organization(s) ............................
1i
 
No
j Lease of facilities, equipment, or other assets to related organization(s) .......................
1j
 
No
k Lease of facilities, equipment, or other assets from related organization(s) ......................
1k
Yes
 
l Performance of services or membership or fundraising solicitations for related organization(s) .....................
1l
Yes
 
m Performance of services or membership or fundraising solicitations by related organization(s) .................
1m
 
No
n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) ...................
1n
Yes
 
o Sharing of paid employees with related organization(s) ............................
1o
Yes
 
p Reimbursement paid to related organization(s) for expenses ............................
1p
Yes
 
q Reimbursement paid by related organization(s) for expenses ............................
1q
 
No
r Other transfer of cash or property to related organization(s) ............................
1r
 
No
s Other transfer of cash or property from related organization(s) ............................
1s
 
No
2
If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.
(a)
Name of related organization 		(b)
Transaction
type (a-s) 		(c)
Amount involved 		(d)
Method of determining amount involved
(1) KE ALI'I PAUAHI FOUNDATION

 B 411,046 BOOK VALUE
(2) KE ALI'I PAUAHI FOUNDATION

 C 524,418 BOOK VALUE
(3) KE ALI'I PAUAHI FOUNDATION

 L 450,000 BOOK VALUE
(4) KAMEHAMEHA INVESTMENT CORPORATION

 L 169,284 BOOK VALUE
(5) KAYNE KS CRDT FD LP

 C 12,698,103 BOOK VALUE
(6) CRESCENTKS PTNRSHP

 C 9,106,668 BOOK VALUE
(7) CSKS OPPS FUND LP

 C 1,646,849 BOOK VALUE
(8) KAMVUS FUND

 C 46,903,150 BOOK VALUE
(9) KURAMO AFRC OPP FD

 C 243,143 BOOK VALUE
(10) KSBCS FUND LP

 C 3,800,000 BOOK VALUE
Schedule R (Form 990) (Rev. 1-2025)
Schedule R (Form 990) (Rev. 1-2025)
Page 4
Part VI
Unrelated Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 37.
Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.
(a)
Name, address, and EIN of entity 		(b)
Primary activity 		(c)
Legal domicile
(state or foreign
country) 		(d)
Predominant income (related, unrelated, excluded from tax under sections 512-514)

(e)
Are all partners
section
501(c)(3)
organizations? 		(f)
Share of total income




 		(g)
Share of
end-of-year
assets 		(h)
Disproprtionate allocations? 		(i)
Code V-UBI
amount in box 20
of Schedule K-1
(Form 1065) 		(j)
General or
managing
partner? 		(k)
Percentage
ownership
Yes No Yes No Yes No






























Schedule R (Form 990) (Rev. 1-2025)
Schedule R (Form 990) (Rev. 1-2025)
Page 5
Part VII
Supplemental Information
Provide additional information for responses to questions on Schedule R. See instructions.
Return Reference Explanation
Schedule R (Form 990) (Rev. 1-2025)

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