Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
Do not enter social security numbers on this form as it may be made public.
Go to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2025
Open to Public Inspection
For calendar year 2025, or tax year beginning 01 - 01 2025, and ending 12 - 31, 20 25
Name of foundation
Dolores F Martin Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address) 1088 Bishop Street 1227
  Room/suite
City or town
Honolulu
State or province
HI
Country  
ZIP or foreign postal code
96813
A Employer identification number

99-0348924
B Telephone number (see instructions)

8082912250
C
G Check all that apply:

D 1. Foreign organizations, check here.............
2. Foreign organizations meeting the 85%
test, check here and attach computation ...
E
H Check type of organization:
F
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)$4,695,919J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check .................
3 Interest on savings and temporary cash investments 1,491 1,491  
4 Dividends and interest from securities... 114,220 114,212  
5a Gross rents............ 68,119 68,119  
b Net rental income or (loss) 54,089
6a Net gain or (loss) from sale of assets not on line 10 196,186
b Gross sales price for all assets on line 6a 1,023,965
7 Capital gain net income (from Part IV, line 2)... 196,186
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
349 349  
12 Total. Add lines 1 through 11........ 380,365 380,357  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
12,986 0   1,623
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
5,034 0   4,959
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
9,154 0   907
19 Depreciation (attach schedule) and depletion... Click to see attachment
List of Attached Documents:
// Content
3,466 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
109,741 45,863   8,828
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 140,381 45,863   16,317
25 Contributions, gifts, grants paid....... 138,000 138,000
26 Total expenses and disbursements. Add lines 24 and 25 ................ 278,381 45,863   154,317
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 101,984
b Net investment income (if negative, enter -0-) 334,494
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2025)
Form 990-PF (2025)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 20,438 20,506 20,506
2 Savings and temporary cash investments......... 203,655 271,893 271,893
3 Accounts receivable  
Less: allowance for doubtful accounts        
4 Pledges receivable  
Less: allowance for doubtful accounts        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule)  
Less: allowance for doubtful accounts        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 16,199 Click to see attachment
List of Attached Documents:
// Content
16,199 		40,212
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis 101,700
Less: accumulated depreciation (attach schedule)   101,700 Click to see attachment
List of Attached Documents:
// Content
101,700 		683,200
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 2,756,836 Click to see attachment
List of Attached Documents:
// Content
2,793,980 		3,363,986
14 Land, buildings, and equipment: basis 151,042
Less: accumulated depreciation (attach schedule) 86,494 68,014 Click to see attachment
List of Attached Documents:
// Content
64,548 		240,000
15 Other assets (describe ) Click to see attachment
List of Attached Documents:
// Content
76,122 		Click to see attachment
List of Attached Documents:
// Content
76,122 		Click to see attachment
List of Attached Documents:
// Content
76,122
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 3,242,964 3,344,948 4,695,919
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe )    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 3,242,964 3,344,948
29 Total net assets or fund balances (see instructions)..... 3,242,964 3,344,948
30 Total liabilities and net assets/fund balances (see instructions). 3,242,964 3,344,948
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
3,242,964
2
Enter amount from Part I, line 27a .....................
2
101,984
3
Other increases not included in line 2 (itemize)
3
0
4
Add lines 1, 2, and 3 ..........................
4
3,344,948
5
Decreases not included in line 2 (itemize)
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
3,344,948
Form 990-PF (2025)
Form 990-PF (2025)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a 371 SHS - CAPITAL GROUP GROWTH ETF   2023-11-24 2025-06-04
b 149 SHS - CAPITAL GROUP GROWTH ETF   2023-11-24 2025-10-09
c 54 SHS - CAPITAL GROUP GROWTH ETF   2023-11-24 2025-10-29
d 127 SHS - VANGUARD TOTAL STK MKT   2018-10-02 2025-06-04
e 26 SHS - VANGUARD TOTAL STK MKT   2018-10-02 2025-10-09
32 SHS - VANGUARD TOTAL STK MKT   2018-10-02 2025-10-29
52 SHS - VANGUARD DIVIDEND   2020-03-12 2025-03-13
30 SHS - VANGUARD DIVIDEND   2020-03-12 2025-06-04
5 SHS - VANGUARD DIVIDEND   2020-03-12 2025-10-09
475 SHS - INVESCO FTSE RAFI   2022-10-07 2025-03-13
49 SHS - INVESCO RAFI DEVELOPED   2022-10-07 2025-06-04
7 SHS - INVESCO RAFI DEVELOPED   2022-10-07 2025-10-09
13 SHS - INVESCO RAFI DEVELOPED   2022-10-07 2025-10-29
10 SHS - INVESCO FTSE RAFI   2022-10-07 2025-03-13
45 SHS - INVESCO RAFI EMERGING   2022-10-07 2025-06-04
37 SHS - INVESCO RAFI EMERGING   2022-10-07 2025-10-09
30 SHS - INVESCO RAFI EMERGING   2022-10-07 2025-10-29
150 SHS - VANGUARD INTERNATIONAL   2020-03-12 2025-06-04
433 SHS - VANGUARD INTERNATIONAL   2020-03-12 2025-10-29
197 SHS - VANGUARD INTERNATIONAL   2022-03-09 2025-10-29
369 SHS - ISHARES TR CORE MSCI   2022-10-07 2025-03-13
286 SHS - ISHARES TR CORE MSCI   2022-10-07 2025-06-04
20 SHS - ISHARES TR CORE MSCI   2022-10-07 2025-10-09
65 SHS - ISHARES TR CORE MSCI   2022-10-07 2025-10-29
82 SHS - WISDOMTREE U.S. QUALITY   2020-03-12 2025-03-13
66 SHS - WISDOMTREE U.S. QUALITY   2020-03-12 2025-06-04
19 SHS - WISDOMTREE U.S. QUALITY   2020-03-12 2025-10-09
169 SHS - ISH TR CORE DIVID GROWTH   2020-03-12 2025-03-13
68 SHS - ISH TR CORE DIVID GROWTH   2020-03-12 2025-06-04
25 SHS - ISH TR CORE DIVID GROWTH   2020-03-12 2025-10-09
27.559 SHS - FULLERTHALER BEHAVIORAL   2020-10-27 2025-03-13
4.651 SHS - FULLERTHALER BEHAVIORAL   2020-12-23 2025-03-13
224.252 SHS - FULLERTHALER BEHAVIORAL   2021-03-16 2025-03-13
129.405 SHS - FULLERTHALER BEHAVIORAL   2021-03-16 2025-06-04
102.478 SHS - FULLERTHALER BEHAVIORAL   2021-03-16 2025-10-09
2513.751 SHS - ALPS SMITH TOTAL RETURN   2020-01-07 2025-03-13
222.081 SHS - ALPS SMITH TOTAL RETURN   2020-01-07 2025-06-04
3031.498 SHS - ALPS SMITH TOTAL RETURN   2020-01-07 2025-10-29
3607.461 SHS - INVESCO CORE PLUS BOND   2024-08-30 2025-10-29
241.415 SHS - BARON REAL ESTATE FUND   2020-06-01 2025-03-13
0.641 SHS - BARON REAL ESTATE FUND   2020-09-25 2025-03-13
9.724 SHS - BARON REAL ESTATE FUND   2020-09-25 2025-03-13
11.882 SHS - BARON REAL ESTATE FUND   2020-09-25 2025-03-13
43.533 SHS - BARON REAL ESTATE FUND   2020-11-25 2025-03-13
39.923 SHS - BARON REAL ESTATE FUND   2021-03-16 2025-03-13
20.366 SHS - BARON REAL ESTATE FUND   2021-03-16 2025-06-04
24.148 SHS - BARON REAL ESTATE FUND   2021-03-16 2025-10-09
32.685 SHS - BARON REAL ESTATE FUND   2021-03-16 2025-10-09
64.26 SHS - EATON VANCE RBA EQUITY   2019-02-13 2025-03-13
610.946 SHS - EATON VANCE RBA EQUITY   2019-02-13 2025-06-04
547.461 SHS - EATON VANCE EQUITY   2019-02-13 2025-08-22
72.276 SHS - EATON VANCE EQUITY   2019-12-03 2025-08-22
468.389 SHS - EATON VANCE EQUITY   2019-12-03 2025-08-22
1085.484 SHS - EATON VANCE EQUITY   2020-03-12 2025-08-22
39.121 SHS - EATON VANCE EQUITY   2020-12-08 2025-08-22
122.67 SHS - EATON VANCE EQUITY   2020-12-08 2025-08-22
114.031 SHS - EATON VANCE EQUITY   2021-12-07 2025-08-22
432.261 SHS - EATON VANCE EQUITY   2021-12-07 2025-08-22
143.65 SHS - EATON VANCE EQUITY   2021-12-07 2025-08-22
1696.679 SHS - EATON VANCE EQUITY   2022-03-09 2025-08-22
60.403 SHS - EATON VANCE EQUITY   2022-12-27 2025-08-22
347.12 SHS - EATON VANCE EQUITY   2022-12-27 2025-08-22
149.048 SHS - EATON VANCE EQUITY   2023-05-17 2025-08-22
596.866 SHS - EATON VANCE EQUITY   2023-11-24 2025-08-22
102.943 SHS - EATON VANCE EQUITY   2023-12-28 2025-08-22
536.433 SHS - EATON VANCE EQUITY   2023-12-28 2025-08-22
120.097 SHS - EATON VANCE EQUITY   2024-07-29 2025-08-22
364.01 SHS - HOTCHKIS & WILEY VALUE   2019-02-13 2025-03-13
171.475 SHS - HOTCHKIS & WILEY VALUE   2019-02-13 2025-06-04
92.341 SHS - HOTCHKIS & WILEY VALUE   2019-02-13 2025-10-09
4658.911 SHS - JP MORGAN CORE PLUS BOND   2024-07-29 2025-10-29
1755.464 SHS - LORD ABBETT INCOME FUND   2024-07-29 2025-10-29
2894.975 SHS - DWS RREEF REAL ASSETS   2022-10-07 2025-03-13
508.517 SHS - DWS RREEF REAL ASSETS   2022-10-07 2025-06-04
30.908 SHS - AMERICAN EURO PACIFIC   2019-12-20 2025-03-13
5.231 SHS - AMERICAN EURO PACIFIC   2019-12-20 2025-03-13
50.418 SHS - AMERICAN EUPAC FUND   2019-12-20 2025-06-04
8.741 SHS - AMERICAN EUPAC FUND   2020-12-18 2025-06-04
8.741 SHS - AMERICAN EUPAC FUND   2020-12-24 2025-10-09
18.022 SHS - AMERICAN EUPAC FUND   2021-03-16 2025-06-04
12.431 SHS - AMERICAN EUPAC FUND   2021-03-16 2025-06-04
44.899 SHS - AMERICAN EUPAC FUND   2021-03-16 2025-10-09
6.137 SHS - AMERICAN EUPAC FUND   2021-03-16 2025-10-29
215.519 SHS - AMER FUNDS AMCAP   2019-02-13 2025-06-04
136.794 SHS - AMER FUNDS AMCAP   2019-02-13 2025-10-09
35.801 SHS - AMER FUNDS AMCAP   2019-02-13 2025-10-29
15.507 SHS - AMERICAN WASHINGTON   2019-02-13 2025-03-13
128.267 SHS - AMERICAN WASHINGTON   2019-02-13 2025-06-04
44.577 SHS - AMERICAN WASHINGTON   2019-02-13 2025-10-09
10.26 SHS - AMERICAN WASHINGTON   2019-02-13 2025-10-29
379.12 SHS - ANGEL OAK MULTI STRATEGY   2023-11-24 2025-06-04
7467.466 SHS - ANGEL OAK MULTI STRATEGY   2023-11-24 2025-10-29
1526.653 SHS - KOPERNIK GLOBAL ALL CAP   2021-03-16 2025-03-13
16.052 SHS - KOPERNIK GLOBAL ALL CAP   2021-12-23 2025-03-13
179.193 SHS - KOPERNIK GLOBAL ALL CAP   2021-12-23 2025-03-13
308.35 SHS - KOPERNIK GLOBAL ALL CAP   2021-12-31 2025-03-13
486.623 SHS - KOPERNIK GLOBAL ALL CAP   2022-03-09 2025-03-13
329.477 SHS - KOPERNIK GLOBAL ALL CAP   2022-12-23 2025-03-13
323.749 SHS - KOPERNIK GLOBAL ALL CAP   2022-12-23 2025-06-04
55.941 SHS - KOPERNIK GLOBAL ALL CAP   2022-12-23 2025-10-09
55.34 SHS - KOPERNIK GLOBAL ALL CAP   2022-12-23 2025-10-09
50.32 SHS - KOPERNIK GLOBAL ALL CAP   2022-12-30 2025-10-09
141.105 SHS - KOPERNIK GLOBAL ALL CAP   2023-05-17 2025-10-09
1833.115 SHS - ARTISAN HIGH INCOME   2020-06-01 2025-03-13
543.36 SHS - ARTISAN HIGH INCOME   2020-06-01 2025-06-04
385.186 SHS - ARTISAN HIGH INCOME   2020-06-01 2025-10-29
31.34 SHS - CREDIT SUISSE STRATEGIC   2024-07-29 2025-10-29
32.389 SHS - CREDIT SUISSE STRATEGIC   2024-07-29 2025-10-29
30.103 SHS - CREDIT SUISSE STRATEGIC   2024-07-29 2025-10-29
31.975 SHS - CREDIT SUISSE STRATEGIC   2024-07-29 2025-10-29
9.089 SHS - PIMCO MORTGAGE   2022-10-20 2025-03-13
69.714 SHS - PIMCO MORTGAGE   2022-10-20 2025-03-13
9.089 SHS - PIMCO MORTGAGE   2022-11-07 2025-06-04
1509.975 SHS - PIMCO MORTGAGE   2023-05-17 2025-03-13
74.345 SHS - PIMCO MORTGAGE   2023-05-31 2025-03-13
95.059 SHS - PIMCO MORTGAGE   2023-06-30 2025-03-13
86.67 SHS - PIMCO MORTGAGE   2023-07-31 2025-03-13
93.559 SHS - PIMCO MORTGAGE   2023-08-31 2025-03-13
107.552 SHS - PIMCO MORTGAGE   2023-09-29 2025-03-13
125.243 SHS - PIMCO MORTGAGE   2023-10-31 2025-03-13
797.13 SHS - PIMCO MORTGAGE   2023-11-24 2025-03-13
120.693 SHS - PIMCO MORTGAGE   2023-11-30 2025-03-13
59.173 SHS - PIMCO MORTGAGE   2023-12-26 2025-03-13
136.033 SHS - PIMCO MORTGAGE   2023-12-29 2025-03-13
130.096 SHS - PIMCO MORTGAGE   2024-01-31 2025-03-13
88.916 SHS - GQG PARTNERS US SELECT   2025-03-13 2025-06-04
593.269 SHS - AQR DIVERSIFYING   2025-03-13 2025-06-04
124.481 SHS - INVESCO CORE PLUS BOND   2024-08-30 2025-03-13
118.59 SHS - INVESCO CORE PLUS BOND   2024-08-30 2025-03-13
2881.457 SHS - INVESCO CORE PLUS BOND   2024-08-30 2025-03-13
115.608 SHS - INVESCO CORE PLUS BOND   2024-08-30 2025-06-04
112.507 SHS - INVESCO CORE PLUS BOND   2024-08-30 2025-06-04
361.523 SHS - INVESCO CORE PLUS BOND   2024-08-30 2025-06-04
63.964 SHS - EATON VANCE EQUITY   2024-12-30 2025-08-22
232.508 SHS - EATON VANCE EQUITY   2024-12-30 2025-08-22
4.146 SHS - EATON VANCE EQUITY   2024-12-30 2025-08-22
5.146 SHS - BLACKROCK HEALTH SCIENCE   2025-03-13 2025-10-09
4277.67 SHS - JP MORGAN CORE PLUS BOND   2024-07-29 2025-03-13
152.509 SHS - JP MORGAN CORE PLUS BOND   2024-07-29 2025-06-04
143.083 SHS - JP MORGAN CORE PLUS BOND   2024-07-29 2025-06-04
518.569 SHS - JP MORGAN CORE PLUS BOND   2024-07-29 2025-06-04
144.946 SHS - LORD ABBETT INCOME FUND   2024-07-29 2025-06-04
138.668 SHS - LORD ABBETT INCOME FUND   2024-07-29 2025-06-04
383.303 SHS - LORD ABBETT INCOME FUND   2024-07-29 2025-06-04
0.022 SHS - PUTNAM ULTRA SHORT   2024-12-31 2025-01-16
0.038 SHS - AMERICAN BOND FD OF   2024-12-31 2025-01-16
32.833 SHS - CREDIT SUISSE STRATEGIC   2024-07-29 2025-03-13
33.503 SHS - CREDIT SUISSE STRATEGIC   2024-07-29 2025-03-13
631.915 SHS - CREDIT SUISSE STRATEGIC   2024-07-29 2025-03-13
34.064 SHS - CREDIT SUISSE STRATEGIC   2024-07-29 2025-06-04
30.739 SHS - CREDIT SUISSE STRATEGIC   2024-07-29 2025-06-04
129.909 SHS - CREDIT SUISSE STRATEGIC   2024-07-29 2025-06-04
50.129 SHS - PIMCO MORTGAGE   2024-03-28 2025-03-13
1052.324 SHS - PIMCO MORTGAGE   2024-04-08 2025-03-13
128.842 SHS - PIMCO MORTGAGE   2024-04-30 2025-03-13
156.11 SHS - PIMCO MORTGAGE   2024-05-31 2025-03-13
133.913 SHS - PIMCO MORTGAGE   2024-06-28 2025-03-13
28.894 SHS - PIMCO MORTGAGE   2024-09-30 2025-03-13
30.747 SHS - PIMCO MORTGAGE   2024-10-31 2025-03-13
30.139 SHS - PIMCO MORTGAGE   2024-11-29 2025-03-13
29.569 SHS - PIMCO MORTGAGE   2024-12-31 2025-03-13
30.461 SHS - PIMCO MORTGAGE   2025-01-31 2025-03-13
25.128 SHS - PIMCO MORTGAGE   2025-02-28 2025-03-13
0.044 SHS - PIMCO MORTGAGE   2025-04-30 2025-06-04
0.047 SHS - PIMCO MORTGAGE   2025-05-30 2025-06-04
0.004 SHS - PIMCO MORTGAGE   2025-06-30 2025-07-17
Capital Gains Dividends P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 14,437   9,826 4,611
b 6,619   3,948 2,671
c 2,462   1,431 1,031
d 37,327   19,011 18,316
e 8,588   3,892 4,696
10,802   4,790 6,012
9,886   5,273 4,613
6,012   3,042 2,970
1,083   507 576
24,837   16,943 7,894
2,782   1,748 1,034
429   250 179
813   464 349
219   167 52
1,021   749 272
939   616 323
789   499 290
13,553   8,411 5,142
38,702   24,278 14,424
17,608   15,045 2,563
25,803   19,053 6,750
21,869   14,767 7,102
1,661   1,033 628
5,496   3,356 2,140
6,394   3,118 3,276
5,387   2,510 2,877
1,683   723 960
10,246   5,466 4,780
4,261   2,199 2,062
1,702   809 893
1,128   694 434
190   139 51
9,176   8,122 1,054
5,651   4,687 964
5,039   3,712 1,327
24,308   27,375 -3,067
2,130   2,418 -288
29,860   33,013 -3,153
33,946   33,874 72
8,867   6,603 2,264
24   20 4
357   301 56
436   368 68
1,599   1,471 128
1,466   1,654 -188
768   844 -76
983   983 0
1,331   1,331 0
1,119   999 120
11,492   9,500 1,992
10,998   8,513 2,485
1,452   1,141 311
9,410   7,396 2,014
21,807   14,459 7,348
786   720 66
2,464   2,257 207
2,291   2,179 112
8,684   8,261 423
2,886   2,745 141
34,086   30,201 3,885
1,214   943 271
6,974   5,419 1,555
2,994   2,500 494
11,991   10,212 1,779
2,068   1,689 379
10,777   8,803 1,974
2,413   2,199 214
13,683   9,850 3,833
6,706   4,640 2,066
3,918   2,499 1,419
34,243   33,591 652
4,371   4,301 70
34,161   30,918 3,243
6,275   5,431 844
1,719   1,703 16
291   288 3
3,051   2,777 274
529   529 0
572   586 -14
1,091   1,091 0
752   871 -119
2,939   3,146 -207
409   430 -21
9,644   6,660 2,984
6,613   4,227 2,386
1,771   1,106 665
935   687 248
8,295   5,686 2,609
2,992   1,976 1,016
696   455 241
3,264   3,158 106
65,415   62,204 3,211
19,129   22,182 -3,053
201   235 -34
2,245   2,623 -378
3,864   4,298 -434
6,097   6,307 -210
4,128   3,670 458
4,562   3,607 955
949   623 326
939   616 323
853   561 292
2,393   1,671 722
16,608   16,571 37
4,983   4,912 71
3,563   3,482 81
296   296 0
306   306 0
284   284 0
302   304 -2
85   85 0
650   661 -11
85   86 -1
14,088   14,224 -136
694   698 -4
887   894 -7
809   815 -6
873   876 -3
1,003   992 11
1,169   1,131 38
7,437   7,350 87
1,126   1,119 7
552   556 -4
1,269   1,279 -10
1,214   1,216 -2
1,927   1,925 2
7,861   7,665 196
1,146   1,146 0
1,092   1,092 0
26,538   27,057 -519
1,057   1,057 0
1,028   1,028 0
3,304   3,395 -91
1,285   1,162 123
4,671   4,222 449
83   75 8
351   351 0
30,928   30,842 86
1,093   1,093 0
1,026   1,026 0
3,718   3,739 -21
349   349 0
334   334 0
924   939 -15
      0
      0
310   310 0
316   316 0
5,959   6,016 -57
322   322 0
290   290 0
1,228   1,237 -9
468   470 -2
9,818   9,808 10
1,202   1,185 17
1,457   1,449 8
1,249   1,244 5
270   274 -4
287   285 2
281   280 1
276   273 3
284   281 3
234   233 1
      0
      0
      0
36,446     36,446
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       4,611
b       2,671
c       1,031
d       18,316
e       4,696
      6,012
      4,613
      2,970
      576
      7,894
      1,034
      179
      349
      52
      272
      323
      290
      5,142
      14,424
      2,563
      6,750
      7,102
      628
      2,140
      3,276
      2,877
      960
      4,780
      2,062
      893
      434
      51
      1,054
      964
      1,327
      -3,067
      -288
      -3,153
      72
      2,264
      4
      56
      68
      128
      -188
      -76
      0
      0
      120
      1,992
      2,485
      311
      2,014
      7,348
      66
      207
      112
      423
      141
      3,885
      271
      1,555
      494
      1,779
      379
      1,974
      214
      3,833
      2,066
      1,419
      652
      70
      3,243
      844
      16
      3
      274
      0
      -14
      0
      -119
      -207
      -21
      2,984
      2,386
      665
      248
      2,609
      1,016
      241
      106
      3,211
      -3,053
      -34
      -378
      -434
      -210
      458
      955
      326
      323
      292
      722
      37
      71
      81
      0
      0
      0
      -2
      0
      -11
      -1
      -136
      -4
      -7
      -6
      -3
      11
      38
      87
      7
      -4
      -10
      -2
      2
      196
      0
      0
      -519
      0
      0
      -91
      123
      449
      8
      0
      86
      0
      0
      -21
      0
      0
      -15
      0
      0
      0
      0
      -57
      0
      0
      -9
      -2
      10
      17
      8
      5
      -4
      2
      1
      3
      3
      1
      0
      0
      0
      36,446
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 196,186
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ......................... 		Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 4,649
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 4,649
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 4,649
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 3,510
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 3,510
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 4
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed....... 9 1,143
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10  
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax   Refunded 11  
For Refunded amount, also complete and attach Form 8050. See instructions.
Form 990-PF (2025)
Form 990-PF (2025)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. $ 0(2) On foundation managers.$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
 
No
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
HI
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2025 or the taxable year beginning in 2025? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressN/A
14
The books are in care ofWatters O Martin Jr Telephone no. (808) 291-2250

Located at1088 Bishop Street 1227HonoluluHI ZIP+496813
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........
and enter the amount of tax-exempt interest received or accrued during the year ........
15
 
16 At any time during calendar year 2025, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country
Form 990-PF (2025)
Form 990-PF (2025)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
 
c
Organizations relying on a current notice regarding disaster assistance check here ........
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2025? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2025, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2025?....................
2a
 
No
If "Yes," list the years 20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2025 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Form 4720, Schedule C, to determine
if the foundation had excess business holdings in 2025.).....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2025? ..
4b
 
No
Form 990-PF (2025)
Form 990-PF (2025)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
Watters O Martin Jr President/Treasurer/Director
5.00 		0 0 0
71D Country Club Road
Honolulu,HI96817
Skye Thomas Director
1.00 		0 0 0
7127 E Rancho Vista Dr 6007
Scottsdale,AZ85251
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000................... 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................0
Form 990-PF (2025)
Form 990-PF (2025)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
3,324,712
b
Average of monthly cash balances.......................
1b
271,446
c
Fair market value of all other assets (see instructions)................
1c
1,002,124
d
Total (add lines 1a, 1b, and 1c).......................
1d
4,598,282
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
4,598,282
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
68,974
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
4,529,308
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
226,465
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
226,465
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
4,649
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
4,649
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
221,816
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
221,816
6
Deduction from distributable amount (see instructions) .................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
221,816
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, line 26, column (d) ..........
1a
154,317
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
154,317
Form 990-PF (2025)
Form 990-PF (2025)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2024 		(c)
2024 		(d)
2025
1 Distributable amount for 2025 from Part X, line 7 221,816
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 6,999
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2025:
a From 2020......  
b From 2021......  
c From 2022......  
d From 2023......  
e From 2024......  
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2025 from Part
XI, line 4: $ 154,317
a Applied to 2024, but not more than line 2a 6,999
b Applied to undistributed income of prior years
(Election required—see instructions) ..... 		0
c Treated as distributions out of corpus (Election
required—see instructions) ........ 		0
d Applied to 2025 distributable amount..... 147,318
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2025. 0 0
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2024. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2025. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2026 .......... 		74,498
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2020 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2021 ....  
b Excess from 2022 ....  
c Excess from 2023 ....  
d Excess from 2024 ....  
e Excess from 2025 ....  
Form 990-PF (2025)
Form 990-PF (2025)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2025, enter the date of the ruling ......
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2025 (b) 2024 (c) 2023 (d) 2022
         
b 85% (0.85) of line 2a .......          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, 3b, or 3c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, 2b, 2c, and 2d. See instructions
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
Watters O Martin Jr
1088 Bishop Street 1227
Honolulu,HI96813
(808) 291-2250
bThe form in which applications should be submitted and information and materials they should include:
None specified
cAny submission deadlines:
No
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
No
Form 990-PF (2025)
Form 990-PF (2025)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

Hawaiian Music Perpetuation Society

503 Kekauluohi St
Honolulu,HI96825 		None   Unrestricted Gift 1,000

Maui Film & Research Inc

PO Box 1381
Kula,HI96790 		None   Unrestricted Gift 5,000

The Reserved Joel Hulu Mahoe Resource Center

242 N Circle Mauka St
Wahiawa,HI96786 		None   Unrestricted Gift 5,000

Shriners Hospitals for Children Honolulu

1310 Punahou St
Honolulu,HI96826 		None   Unrestricted Gift 10,000

Kuilei Cliffs

2121 Ala Wai Blvd Unit 3003
Honolulu,HI96815 		None   Unrestricted Gift 10,000

DTL Foundation

725 Kapiolani Blvd Ste C430
Honolulu,HI96813 		None   Unrestricted Gift 10,000

Portuguese Genealogical Society

1616 Liliha St Ste 308
Honolulu,HI96817 		None   Unrestricted Gift 22,500

Punahou School

1601 Punahou St
Honolulu,HI96822 		None   Unrestricted Gift 74,500
Total ................................. 3a 138,000
bApproved for future payment
Total ................................. 3b 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 1,491  
4 Dividends and interest from securities ....     14 114,220  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....     16 54,089  
6 Net rental income or (loss) from personal property          
7 Other investment income .....     14 349  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 196,186  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 366,335 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
366,335
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2025)
Form 990-PF (2025)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Preparer's name Preparer's Signature Date Check if self-
employed 		PTIN
Firm's name
Firm's EIN
Firm's address


Phone no.
Form 990-PF (2025)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2025 AccountingFeesSchedule
Name:
Dolores F Martin Foundation
EIN:
99-0348924
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Accounting Fees 12,986 0   1,623

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

TY 2025 DepreciationSchedule
Name:
Dolores F Martin Foundation
EIN:
99-0348924
Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
Life (# of years)		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
Land   101,700   L   0 0    
BUILDING - EXECUTIVE CENTRE 1227 2005-03-31 129,518 63,949 SL 40.000000000000 3,238 0    
FURNITURES - EXECUTIVE CENTRE 1227 2005-03-31 2,800 2,800 SL 10.000000000000 0 0    
FURNITURE - EXEC CTR #1227 DRAPERY 2008-03-18 2,469 1,511 SL 27.500000000000 90 0    
FURNITURE - EXEC CTR #1227 ELECTRICAL WORK 2008-05-31 2,000 1,213 SL 27.500000000000 73 0    
FURNITURE - EXEC CTR #1227 ELECTRICAL WORK 2008-04-18 1,786 1,086 SL 27.500000000000 65 0    
FURNITURE - EXEC CTR #1227 ELECTRICAL WORK 2013-08-14 3,600 3,600 SL 10.000000000000 0 0    
FURNITURE - EXECUTIVE CENTRE 1227 2013-09-23 5,607 5,607 SL 10.000000000000 0 0    
FURNITURE - EXEC CTR #1227 DRAPERY 2013-09-25 1,230 1,230 SL 10.000000000000 0 0    
FURNITURES 2013-10-10 1,193 1,193 SL 10.000000000000 0 0    
FURNITURES 2013-10-15 839 839 SL 10.000000000000 0 0    

TY 2025 InvestmentsCorpStockSchedule
Name:
Dolores F Martin Foundation
EIN:
99-0348924
Name of Stock End of Year Book Value End of Year Fair Market Value
BERKSHIRE HATHAWAY INC - 80.000 SHS 16,199 40,212

TY 2025 InvestmentsLandSchedule2
Name:
Dolores F Martin Foundation
EIN:
99-0348924
Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
Land 101,700 0 101,700  

TY 2025 InvestmentsOtherSchedule2
Name:
Dolores F Martin Foundation
EIN:
99-0348924
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
ALPS SMITH TOTAL RETURN BOND FUND CL I - 23983.366 SHS AT COST 244,842 233,598
AMER FUNDS AMCAP FUND CL F - 2098.372 SHS AT COST 75,246 98,372
AMERICAN EURO PACIFIC GROWTH FUND CL F - 1026.227 SHS AT COST 61,424 61,933
AMERICAN WASHINGTON MUTUAL INV FD CL F - 1530.486 SHS AT COST 78,498 99,619
ANGEL OAK MULTI STRATEGY INCOME FUND CL INSTL - 6999.659 SHS AT COST 59,246 61,177
ARTISAN HIGH INCOME FUND ADV CL - 11602.722 SHS AT COST 106,708 106,745
BARON REAL ESTATE FUND CLASS INSTL - 1418.133 SHS AT COST 54,785 57,590
CAPITAL GROUP GROWTH ETF - 1976.000 SHS AT COST 60,254 87,873
CREDIT SUISSE STRATEGIC INCOME FUND CL I - 5401.032 SHS AT COST 51,419 50,662
DWS RREEF REAL ASSETS FUND CL INSTL - 9671.901 SHS AT COST 108,083 121,189
FULLER & THALER BEHVRL SMALL-CAP EQ FD CL INSTL - 1542.009 SHS AT COST 57,260 77,285
HOTCHKIS & WILEY VALUE OPPORTUNITIES FD CL I - 3387.091 SHS AT COST 107,347 139,785
INVESCO FTSE RAFI DEVELOPED MARKETS EX-US ETF - 434.000 SHS AT COST 17,068 28,447
INVESCO FTSE RAFI EMERGING MARKET ETF - 691.000 SHS AT COST 11,677 17,835
INVESCO CORE PLUS BOND FUND CL Y - 24791.988 SHS AT COST 232,666 231,805
ISH TR CORE DIVID GROWTH ETF - 1208.000 SHS AT COST 42,578 83,859
ISHARES TR CORE MSCI TOTAL INTL STK ETF - 2922.000 SHS AT COST 169,361 247,318
JP MORGAN CORE PLUS BOND CL I - 32454.936 SHS AT COST 235,093 237,246
KOPERNIK GLOBAL ALL CAP FUND INSTL CLASS - 2678.228 SHS AT COST 34,976 41,566
LORD ABBETT INCOME FUND CL I - 28546.156 SHS AT COST 69,828 70,509
VANGUARD TOTAL STK MKT ETF - 1356.000 SHS AT COST 270,431 454,626
VANGUARD DIVIDEND APPRECIATION ETF - 378.000 SHS AT COST 41,716 83,077
VANGUARD INTERNATIONAL DIVIDEND APPRECIATION INDEX FUND - 751.000 SHS AT COST 57,800 68,679
WISDOMTREE U.S. QUALITY DIVIDEND GROWTH FUND - 941.000 SHS AT COST 38,244 84,154
Honokowai Investment AT COST 2,802 2,802
AQR DIVERSIFYING STRATEGIES FUND CL I - 14073.239 SHS AT COST 183,554 197,166
BLACKROCK HEALTH SCIENCE OPPORT PORTF CL INSTL - 877.155 SHS AT COST 60,159 61,760
GQG PARTNERS US SELECT QUALITY EQ FD CL INSTL - 3367.007 SHS AT COST 72,658 67,610
JANUS HENDERSON MULTI SECTOR INCOMEFUND CL I - 6886.770 SHS AT COST 60,535 60,535
PIMCO LOW DURATION INCOME FUND CL I2 - 7285.562 SHS AT COST 60,535 60,535
SCHWAB FUNDAMENTAL INTL EQUITY ETF - 1518.000 SHS AT COST 67,187 68,629

TY 2025 LandEtcSchedule2
Name:
Dolores F Martin Foundation
EIN:
99-0348924
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
BUILDING - EXECUTIVE CENTRE 1227 129,518 67,187 62,331  
FURNITURES - EXECUTIVE CENTRE 1227 2,800 2,800 0  
FURNITURE - EXEC CTR #1227 DRAPERY 2,469 1,601 868  
FURNITURE - EXEC CTR #1227 ELECTRICAL WORK 2,000 1,286 714  
FURNITURE - EXEC CTR #1227 ELECTRICAL WORK 1,786 1,151 635  
FURNITURE - EXEC CTR #1227 ELECTRICAL WORK 3,600 3,600 0  
FURNITURE - EXECUTIVE CENTRE 1227 5,607 5,607 0  
FURNITURE - EXEC CTR #1227 DRAPERY 1,230 1,230 0  
FURNITURES 1,193 1,193 0  
FURNITURES 839 839 0  


TY 2025 OtherAssetsSchedule
Name:
Dolores F Martin Foundation
EIN:
99-0348924
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
Art & Miscellaneous Property 76,122 76,122 76,122


TY 2025 OtherExpensesSchedule
Name:
Dolores F Martin Foundation
EIN:
99-0348924
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Bank Service Fees 2,656 0   332
Foreign Tax 1,202 1,202   0
Insurance 1,282 0   175
Investment Fees 28,875 28,875   0
Lease Rent & Maintenance Fees 35,829 0   4,886
License 4 0   4
Miscellaneous 1,756 1,756   0
Office 190 0   190
Repairs 19,054 0   2,598
Utilities 4,713 0   643
GET Penalties 150 0   0
Rent (BOH) - Hawaii GET 4,515 4,515   0
Rent (BOH) - Insurance 88 88   0
Rent (BOH) - Legal Fees 234 234   0
Rent (BOH) - Other Rental Expenses 3,054 3,054   0
Rent (Executive Center) - Insurance 117 117   0
Rent (Executive Center) - Lease Rent 785 785   0
Rent (Executive Center) - Maintenance Fees 2,472 2,472   0
Rent (Executive Center) - Real Property Tax 605 605   0
Rent (Executive Center) - Repairs 1,732 1,732   0
Rent (Executive Center) - Utilities 428 428   0


TY 2025 OtherIncomeSchedule2
Name:
Dolores F Martin Foundation
EIN:
99-0348924
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
Litigation & Settlement 349 349 349


TY 2025 OtherProfessionalFeesSchedule
Name:
Dolores F Martin Foundation
EIN:
99-0348924
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Contract Services 5,034 0   4,959


TY 2025 TaxesSchedule
Name:
Dolores F Martin Foundation
EIN:
99-0348924
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Real Estate Tax 6,652 0   907
Federal Tax 2,502 0   0