| FORM 990, PART III, LINE 4A: |
FOR THE FISCAL YEAR ENDING JUNE 30, 2021 KS SPENT $231 MILLION ON CAMPUS-BASED PROGRAMS, $102 MILLION FOR SCHOLARSHIPS AND COMMUNITY-FOCUSED EDUCATIONAL PROGRAMS, AND $105 MILLION FOR OTHER EDUCATIONAL COSTS - PRIMARILY CAPITAL, DEBT FINANCING, AND SUPPORT SERVICES. EDUCATIONAL SPENDING AND LEARNERS SERVED FOR THIS FISCAL YEAR INCLUDE: *CAMPUSES: A TOTAL OF $231.3 MILLION SERVING 6,857 LEARNERS - PRESCHOOLS: $39.4 MILLION SERVING 1,403 LEARNERS AT 29 PRESCHOOL SITES; - K-12 CAMPUSES: $191.9 MILLION SERVING 5,454 LEARNERS INCLUDING 697 GRADUATES; KS HAWAII (1,176 ENROLLED, 133 GRADUATED); KS MAUI (1,097 ENROLLED, 117 GRADUATED); AND KS KAPALAMA (3,181 ENROLLED, 447 GRADUATED). *SCHOLARSHIPS: $28.2 MILLION DISBURSED TO SERVE 4,246 LEARNERS, INCLUDING: - $9.6 MILLION IN PAUAHI KEIKI SCHOLARSHIPS (EARLY LEARNING) SERVING 1,323 LEARNERS; - $5.2 MILLION IN KIPONA SCHOLARSHIPS (K-12) SERVING 676 LEARNERS; AND - $11 MILLION IN NA HO'OKAMA A PAUAHI SCHOLARSHIPS (POST HIGH) SERVING 1,976 LEARNERS. *FINANCIAL AID: $27.4 MILLION DISBURSED TO SERVE 5,731 LEARNERS, INCLUDING PRESCHOOL AND K-12 CAMPUSES ACROSS THE STATE. *COMMUNITY INVESTING: $32.9 MILLION DISBURSED TO SERVE 27,521 PROGRAM PARTICIPANTS. FOR MORE, INCLUDING A COPY OF KS' AUDITED "CONSOLIDATED FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES" FOR THE FISCAL YEAR 2021, VISIT KSBE.EDU/ANNUAL REPORTS. |
| FORM 990, PART V, LINE 4B - FOREIGN COUNTRIES |
BRAZIL CHILE CHINA COLOMBIA CZECH REPUBLIC DENMARK EGYPT GREECE HUNGARY ICELAND INDIA INDONESIA IRELAND ISRAEL JAPAN KUWAIT MALAYSIA NIGERIA NORWAY OMAN PERU POLAND PORTUGAL QATAR ROMANIA RUSSIAN FEDERATION SOUTH KOREA SWEDEN TURKEY UNITED ARAB EMIRATES UNITED KINGDOM |
| FORM 990, PART VI, LINE 2: |
BISHOP HOLDINGS CORPORATION - LANCE WILHELM, ROBERT NOBRIGA, ELLIOT MILLS, MICAH KANE, AND CRYSTAL ROSE (BUSINESS RELATIONSHIP - BISHOP HOLDINGS CORPORATION IS A SUBSIDIARY OF PARENT ORGANIZATION KAMEHAMEHA SCHOOLS AND THESE INDIVIDUALS SERVED ON THE BOARD) KAMEHAMEHA INVESTMENT CORPORATION - LANCE WILHELM, ROBERT NOBRIGA, ELLIOT MILLS, MICAH KANE, AND CRYSTAL ROSE (BUSINESS RELATIONSHIP - KAMEHAMEHA INVESTMENT CORPORATION IS A 2ND TIER SUBSIDIARY OF KAMEHAMEHA SCHOOLS AND THESE INDIVIDUALS SERVED ON THE BOARD) PAUAHI MANAGEMENT CORPORATION - LANCE WILHELM, ROBERT NOBRIGA, ELLIOT MILLS, MICAH KANE, AND CRYSTAL ROSE (BUSINESS RELATIONSHIP - PAUAHI MANAGEMENT CORPORATION IS A 2ND TIER SUBSIDIARY OF KAMEHAMEHA SCHOOLS AND THESE INDIVIDUALS SERVED ON THE BOARD) IN ADDITION, TRUSTEE KANE AND TRUSTEE MILLS HAVE A BUSINESS RELATIONSHIP. |
| FORM 990, PART VI, 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 EXECUTIVE VICE PRESIDENT OF FINANCE, THE VICE PRESIDENT OF COMMUNICATIONS, 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. |
| FORM 990, PART VI, 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, LINES 15A & 15B: |
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, 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 AND SCHEDULE J, PART II |
BEGINNING EFFECTIVE OCTOBER 2017, KAMEHAMEHA SCHOOLS CREATED A NONQUALIFIED DEFERRED COMPENSATION PLAN FOR TRUSTEE MILLS. TRUSTEE MILLS DID NOT PARTICIPATE IN THE DECISION TO CREATE THE PLAN AND THE PLAN INCLUDES A SUBSTANTIAL RISK OF FORFEITURE REQUIRING TRUSTEE MILLS TO COMPLETE HIS TERM AS TRUSTEE IN ORDER TO BE ELIGIBLE TO RECEIVE A DISTRIBUTION. CONTRIBUTIONS UNDER THE PLAN EQUAL THE CASH COMPENSATION PAYABLE TO A KS TRUSTEE FOR A PLAN YEAR PLUS INCREASES, IF ANY, IN THE CONSUMER PRICE INDEX FOR THE GIVEN PLAN YEAR. AMOUNTS REPORTED AS DEFERRED COMPENSATION IN PART VII REPRESENT CONTRIBUTIONS UNDER THE PLAN FOR THE GIVEN PLAN YEAR. 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 10,922,606 CUM. EFFECT OF CHANGE IN ACCOUNTING PRINCIPLES (536,554) ------------ TOTAL OTHER CHANGES IN NET ASSETS 10,386,052 |
| 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. |
Attach to Form 990 or 990-EZ.