Robert E Black Memorial Trust

“Form 990 is prepared by the tax department of bank of hawaii as corporate trustee. Before it is filed, the tax return is reviewed by an administrative officer of the corporate trustee.”

“Bank of hawaii, the corporate trustee, has a conflict of interest policy that applies to all employees, including the tax officers, tax consultants and administrative officers. Bank of hawaii requires all employees to participate in regularly scheduled training related to compliance with conflict of interest and other related policies.”

“The trust does not have a ceo, officers or employees. Under the terms of the trust document, bank of hawaii as trustee is entitled to reasonable compensation for its services. Bank of hawaii's published fee schedule for charitable trusts applies to this trust. In establishing the trustee's fee schedule, consideration was given to the duties, liabilities and expertise of the corporate trustee, as well as to comparable fees for similar services provided by similar organizations. The process of establising an appropriate fee as "reasonable" was also presented to the hawaii attorney general, whose office is responsible for oversight of hawaii's charitable trusts.”

“The trust document and account statments are provided to the beneficiary organizations identified in the trust document. Bank of hawaii, corporate trustee, has a conflict of interest policy, which is available to the beneficiary organizations upon request. Audited financial statements are not prepared for the trust.”