Parker Ranch Foundation Trust

“Selection of trustees is controlled by the charitable organizations it supports, within the meaning of irc section 509(a)(3)(b)(i) and the regulations thereunder.”

“Copies of form 990 are provided to all trustees of parker ranch foundation trust prior to filing the return. During this time the trustees are provided the opportunity to review, comment and submit back to the tax preparer any changes or modifications deemed appropriate.”

“The parker ranch foundation trust requires that a written and signed conflict of interest policy be completed annually in the beginning of the year. All signed statements are then reviewed annually by the board of trustees at the february trustee meeting. In addition, the organization has a standing policy which requires conflict of interest statements be completely redone and resubmitted once any party is aware of any changes.”

“Compensation to the trustee chair of the parker ranch foundation trust is established by the four trust beneficiaries who are supported organizations of the trust. Compensation levels for the trustee chair remained unchanged from 2012 through 2024. The trust does not have officers or employees.”

“Compensation to the trustees of the parker ranch foundation trust is established by the four trust beneficiaries who are supported organizations of the trust. Compensation levels for the trustees remained unchanged from 2012 through 2024. The trust does not have officers or employees.”

“Governing documents, the conflict of interest policy, and financial statements are made available for viewing to interested parties upon request.”

“Section a, column b all trustees spent approximately 8 hours a week on average on related organizations.”

“Parker ranch foundation trust ("prft", the "trust") was formed on november 12, 1992. Richard smart dedicated substantial assets from his personal estate to prft to be held for the benefit of named beneficiaries. At december 31, 2024, such named beneficiaries were hawaii preparatory academy, parker school, queen's north hawaii community hospital and the hawaii community foundation. Such transferred assets were comprised primarily of real estate on the island of hawaii and ranch assets/operations known as "parker ranch". Prft currently holds some real estate and ranch assets/operations as parker ranch, inc. ("pri"); a wholly-owned, for profit subsidiary. Prft is directed by trustees who are responsible for managing the trust's assets in accordance with the trust agreement and selection/oversight of directors and the management team that runs the pri operations.”

“Bank loan for which prft is listed as co-obligor 30,000,000 offset to bank loan - portion to be paid by co-obligor (30,000,000) total to balance sheet, line 23 0”

“Ptshp k-1 net invest. Inc. Adj. 211,605 beneficiary adj. (see detail below) -124,290 total 87,315 beneficiary distributions adjustment detail: adjustment for cash basis presentation on income statement, accrual basis presentation on balance sheet reverse cash basis expense for distributions paid in current year, accrued in prior year 3,705,774 record accrual basis expense for distributions accrued in current year, to be paid in subsequent year (3,830,064) ------------ total to form 990, part xi, line 9 ( 124,290)”

“Form 990, part xii, line 2c - change in financial review process the organization has an audit committee which is responsible for the selection of independent accountants and for reviewing the audited financial statements. No changes were made to the review process from the prior year.”