Palama Foundation Inc

“Part I - General Information 1. Organizational Mission: Our mission is to foster greater public awareness and support for the growth and acceptance of traditional Hawaiian cultural practices and lifeways. We strive to bridge and strengthen a coalition of allied cultural practitioners, empowering Native Hawaiians both within Hawai'i and around the world. Through collaboration and advocacy, we aim to preserve, promote, and revitalize the rich heritage of Hawai'i, ensuring its enduring legacy for future generations. The Foundation is currently in the process of applying for recognition as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code, and the Form 1023 application is pending approval with the IRS. 2. Tax-Exempt Status: As of the filing of this Form 990, the Palama Foundation's Form 1023 application for recognition of tax-exempt status under Section 501(c)(3) is still pending with the IRS. We are awaiting the IRS's determination regarding our status as a tax-exempt organization. The Foundation has been operating in good faith while awaiting this determination and has adhered to the operational requirements of a nonprofit entity, including complying with applicable federal, state, and local laws regarding charitable activities. Part II - Governance and Management 1. Governing Body: The Palama Foundation is governed by a 3-member Board of Directors, which is responsible for overseeing the organization's operations and ensuring that it operates in furtherance of its charitable mission. The Board meets monthly to review financial reports, strategic initiatives, and compliance with legal and ethical standards. In accordance with the governance policies, the Board members are selected for their expertise in nonprofit management, community development, and governance. 2. Conflicts of Interest Policy: The Foundation has a robust conflict-of-interest policy, which requires all Board members, officers, and key staff to disclose any potential conflicts related to their personal or financial interests. This ensures that all decisions are made with the best interests of the Foundation and its mission in mind. The policy also outlines procedures for addressing any conflicts that may arise. 3. Pending IRS Determination: The Palama Foundation has filed a Form 1023 application with the IRS to obtain recognition as a tax-exempt organization under Section 501(c)(3). As of the date of filing this Form 990, the Foundation is still awaiting IRS approval. We are operating under the assumption that our application will be approved and are continuing to follow all applicable nonprofit operational guidelines while the IRS processes the application. Part III - Executive Compensation 1. Compensation Information: The Palama Foundation currently does not pay any directors, employees or volunteers as we are a new Foundation still awaiting our IRS determination. We plan to adhere to standard nonprofit compensation practices and will have a Compensation Committee in place, composed of independent Board members. The Compensation Committee evaluates the compensation for the Executive Director and senior staff annually, ensuring that compensation is reasonable and in line with similar organizations in the sector. Part IV - Financial Information 1. Use of Funds: The Palama Foundation has continued to fund its core programs, including educational outreach, cultural workshops, and community building, despite the pending tax-exempt status. The Foundation has relied on donor contributions, grants, and other sources of funding to support its activities. We are awaiting the IRS determination to finalize our tax-exempt status, which will allow us to issue tax-deductible receipts to donors once approved. 2. Pending Tax-Exempt Status: The Palama Foundation is currently not eligible to offer tax deductions to donors, as its Form 1023 application is still pending. However, the Foundation is committed to maintaining transparency and good governan”

“Part I - General Information 1. Organizational Mission: Our mission is to foster greater public awareness and support for the growth and acceptance of traditional Hawaiian cultural practices and lifeways. We strive to bridge and strengthen a coalition of allied cultural practitioners, empowering Native Hawaiians both within Hawai'i and around the world. Through collaboration and advocacy, we aim to preserve, promote, and revitalize the rich heritage of Hawai'i, ensuring its enduring legacy for future generations. The Foundation is currently in the process of applying for recognition as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code, and the Form 1023 application is pending approval with the IRS. 2. Tax-Exempt Status: As of the filing of this Form 990, the Palama Foundation's Form 1023 application for recognition of tax-exempt status under Section 501(c)(3) is still pending with the IRS. We are awaiting the IRS's determination regarding our status as a tax-exempt organization. The Foundation has been operating in good faith while awaiting this determination and has adhered to the operational requirements of a nonprofit entity, including complying with applicable federal, state, and local laws regarding charitable activities. Part II - Governance and Management 1. Governing Body: The Palama Foundation is governed by a 3-member Board of Directors, which is responsible for overseeing the organization's operations and ensuring that it operates in furtherance of its charitable mission. The Board meets monthly to review financial reports, strategic initiatives, and compliance with legal and ethical standards. In accordance with the governance policies, the Board members are selected for their expertise in nonprofit management, community development, and governance. 2. Conflicts of Interest Policy: The Foundation has a robust conflict-of-interest policy, which requires all Board members, officers, and key staff to disclose any potential conflicts related to their personal or financial interests. This ensures that all decisions are made with the best interests of the Foundation and its mission in mind. The policy also outlines procedures for addressing any conflicts that may arise. 3. Pending IRS Determination: The Palama Foundation has filed a Form 1023 application with the IRS to obtain recognition as a tax-exempt organization under Section 501(c)(3). As of the date of filing this Form 990, the Foundation is still awaiting IRS approval. We are operating under the assumption that our application will be approved and are continuing to follow all applicable nonprofit operational guidelines while the IRS processes the application. Part III - Executive Compensation 1. Compensation Information: The Palama Foundation currently does not pay any directors, employees or volunteers as we are a new Foundation still awaiting our IRS determination. We plan to adhere to standard nonprofit compensation practices and will have a Compensation Committee in place, composed of independent Board members. The Compensation Committee evaluates the compensation for the Executive Director and senior staff annually, ensuring that compensation is reasonable and in line with similar organizations in the sector. Part IV - Financial Information 1. Use of Funds: The Palama Foundation has continued to fund its core programs, including educational outreach, cultural workshops, and community building, despite the pending tax-exempt status. The Foundation has relied on donor contributions, grants, and other sources of funding to support its activities. We are awaiting the IRS determination to finalize our tax-exempt status, which will allow us to issue tax-deductible receipts to donors once approved. 2. Pending Tax-Exempt Status: The Palama Foundation is currently not eligible to offer tax deductions to donors, as its Form 1023 application is still pending. However, the Foundation is committed to maintaining transparency and good governan”

“Part I - General Information 1. Organizational Mission: Our mission is to foster greater public awareness and support for the growth and acceptance of traditional Hawaiian cultural practices and lifeways. We strive to bridge and strengthen a coalition of allied cultural practitioners, empowering Native Hawaiians both within Hawai'i and around the world. Through collaboration and advocacy, we aim to preserve, promote, and revitalize the rich heritage of Hawai'i, ensuring its enduring legacy for future generations. The Foundation is currently in the process of applying for recognition as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code, and the Form 1023 application is pending approval with the IRS. 2. Tax-Exempt Status: As of the filing of this Form 990, the Palama Foundation's Form 1023 application for recognition of tax-exempt status under Section 501(c)(3) is still pending with the IRS. We are awaiting the IRS's determination regarding our status as a tax-exempt organization. The Foundation has been operating in good faith while awaiting this determination and has adhered to the operational requirements of a nonprofit entity, including complying with applicable federal, state, and local laws regarding charitable activities. Part II - Governance and Management 1. Governing Body: The Palama Foundation is governed by a 3-member Board of Directors, which is responsible for overseeing the organization's operations and ensuring that it operates in furtherance of its charitable mission. The Board meets monthly to review financial reports, strategic initiatives, and compliance with legal and ethical standards. In accordance with the governance policies, the Board members are selected for their expertise in nonprofit management, community development, and governance. 2. Conflicts of Interest Policy: The Foundation has a robust conflict-of-interest policy, which requires all Board members, officers, and key staff to disclose any potential conflicts related to their personal or financial interests. This ensures that all decisions are made with the best interests of the Foundation and its mission in mind. The policy also outlines procedures for addressing any conflicts that may arise. 3. Pending IRS Determination: The Palama Foundation has filed a Form 1023 application with the IRS to obtain recognition as a tax-exempt organization under Section 501(c)(3). As of the date of filing this Form 990, the Foundation is still awaiting IRS approval. We are operating under the assumption that our application will be approved and are continuing to follow all applicable nonprofit operational guidelines while the IRS processes the application. Part III - Executive Compensation 1. Compensation Information: The Palama Foundation currently does not pay any directors, employees or volunteers as we are a new Foundation still awaiting our IRS determination. We plan to adhere to standard nonprofit compensation practices and will have a Compensation Committee in place, composed of independent Board members. The Compensation Committee evaluates the compensation for the Executive Director and senior staff annually, ensuring that compensation is reasonable and in line with similar organizations in the sector. Part IV - Financial Information 1. Use of Funds: The Palama Foundation has continued to fund its core programs, including educational outreach, cultural workshops, and community building, despite the pending tax-exempt status. The Foundation has relied on donor contributions, grants, and other sources of funding to support its activities. We are awaiting the IRS determination to finalize our tax-exempt status, which will allow us to issue tax-deductible receipts to donors once approved. 2. Pending Tax-Exempt Status: The Palama Foundation is currently not eligible to offer tax deductions to donors, as its Form 1023 application is still pending. However, the Foundation is committed to maintaining transparency and good governan”

“The Palama Foundation has filed a Form 1023 application with the IRS to obtain recognition as a tax-exempt organization under Section 501(c)(3). As of the date of filing this Form 990, the Foundation is still awaiting IRS approval. We are operating under the assumption that our application will be approved and are continuing to follow all applicable nonprofit operational guidelines while the IRS processes the application. When we receive our approval, we will make our application available to the public”

“As we are still waiting for our official 501(c)3 tax exempt status and final approval of our 1023 application, we have not had the appropriate documents available to share tot he general public but plan to do so the moment we receive said documents.”

“Huakai program expenses including travel, lodging, videographer, etc”