In 2023, Punahou revealed its renewed mission and values statement. IT reads as follows: we are children of ka Punahou, the new spring.from under the hala tree, we weave a mat that seats many, our home to dream and discover our purpose and kuleana to hawai'I and the world. Our values- children of the new spring -- we develop spiritual and ethical values that affirm the worth and dignity of everyone, inspired by our hawaiian and christian heritage. - dream and discover -- we inspire a love for learning, innovation, and exploration from kindergarten through life, empowering all to discover their gifts and passions. - purpose and kuleana -- we commit to personal responsibility and kuleana as central tenets of our larger public purpose to create a just, compassionate, and sustainable world. - a mat that seats many -- we welcome all to realize the full expression of themselves, knowing that our differences are our source of strength.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
$3.3M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $560K a year · under 1% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$3.3M
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
4 mo
of spending, in cash
Plus $340.4M in investments, Pt X · Ln 11–13
Looks good: 4.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $946K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$86.6M
14% of total assets
Looks good: liabilities are 14% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$143.1M
+17% vs prior year
Spent
$126.2M
To programs
82%
Net assets
$537.6M
By yearFY2020–FY2025
Revenue
$143.1M
FY2022▲ +17%
Tap a bar for its year
Revenue by fiscal year
FY2020$122.7M
FY2021$122.3M
FY2022$143.1M
FY2023$146.4M
FY2024$157.4M
FY2025$171.3M
Expenses
$126.2M
FY2022▼ -24%
Tap a bar for its year
Expenses by fiscal year
FY2020$127.1M
FY2021$167.1M
FY2022$126.2M
FY2023$139.4M
FY2024$145.9M
FY2025$153.9M
Net assets
$537.6M
FY2022▼ -4%
Tap a bar for its year
Net assets by fiscal year
FY2020$484.9M
FY2021$559.9M
FY2022$537.6M
FY2023$569.9M
FY2024$625.1M
FY2025$670.4M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1938.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $103.3M Management & general 13% · $16.6M Fundraising 5% · $6.4M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

30 people listed on the 990; $3.3M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$539,826Pt VII · Sec A
VP - Finance & Ops and Treasurer
$497,713Pt VII · Sec A
Principal - Academy (thru 6/22)
$356,598Pt VII · Sec A
FMR Principal-JR School (thru 6/21)
$292,842Pt VII · Sec A
CIO - Information Technology
$284,440Pt VII · Sec A
Dir - Human Resources
$252,099Pt VII · Sec A
VP - Inst. Advancement
$227,925Pt VII · Sec A
Dir - Fin. Svc & Audit (thru 4/22)
$180,859Pt VII · Sec A

Michael E Latham’s $610K as President is at the 53rd percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Michael E Latham$610,473$591,629$537,990$539,826$538,540$252,947
James K Scott————$273,764$506,133
Sunny Donenfeld$408,333$417,986$469,893$497,713$265,022—
Emily N McCarren———$356,598$243,678$229,923
John D Field JR————$242,229$300,102
James Laclair——$295,477$284,440$248,768—
Paris T Priore-Kim———$292,842$244,957$231,165
Noelehua Ll Archambault$270,598$260,010$248,604$227,925—$171,970

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Punahou School executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides a comprehensive K-12 education for over 3,750 students, combining academic excellence with diverse athletic, artistic, and extracurricular programs.

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Provided by the organization

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3 programs · $103.3M · in their own filed words · FY2021
01

Punahou school is a coeducational college preparatory day school accredited by the western association of schools and colleges. Punahou offers educational excellence with more than 99 percent of graduates attending college. Punahou is divided into the junior school (kindergarten through grade 8) and the academy (grades 9-12).

$90.0Mprogram expense
02

Co-curricular and other programs provide opportunities for growth and development beyond the classroom and regular school day. Co-curricular programs include music, dance, theatre, tennis, and punahou aquatics. Student activities range from special interest clubs, holoku pageant, speech and debate, to robotics.

$10.6Mprogram expense
03

Summer school offers a wide variety of academic, enrichment, and transitional programs. At the junior school level (grades k-8), most summer courses are open to all students, including those from our local community, the U.S. Mainland, and abroad.

$2.7Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
See all 6 funders →
Grants paid · 8 grants · $39.7M · 2019–2022
Unitemized GrantFY2022$9,894,052
Unitemized GrantFY2022$11,940
Unitemized GrantFY2021$10,537,760
Unitemized GrantFY2021$19,189
Unitemized GrantFY2020$10,898,385
Unitemized GrantFY2020$22,249
Unitemized GrantFY2019$8,282,779
Unitemized GrantFY2019$43,042

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$143.1M
Ln 12
Fees for servicesLn 2g$114.5M
Gifts and grantsLn 1h$22.0M
Investment incomeLn 3$4.6M
Money outPt IX
$126.2M
Ln 25
Programscol B$103.3M
Managementcol C$16.6M
Fundraisingcol D$6.4M
Owns and owesPt X
$537.6M
net assets · Ln 32
Cash and savingsLn 1–2$47.7M
Total assetsLn 16$624.2M
LiabilitiesLn 26$86.6M
PeoplePt VI, VII
30
listed · VII A
PaidVII A12
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$22.0M
Noncash giftsLn 1g$2.3M
Fees for servicesLn 2g$114.5M
Investment incomeLn 3$4.6M
Other incomeLn 4–11$2.0M
Gains on assetsLn 7$29K
Total revenueLn 12$143.1M
Assets in detailPt X, end of year
CashLn 1$41.1M
SavingsLn 2$6.5M
Cash and savings togetherLn 1–2$47.7M
InvestmentsLn 11–13$340.4M
Land, buildings, equipmentLn 10c$190.3M
Other assetsLn 15$26.1M
Total assetsLn 16$624.2M
LiabilitiesLn 26$86.6M
Net assetsLn 32$537.6M
OperationsPt I, VI
EmployeesI 52,057
VolunteersI 61,875
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$37.3M$47.7M
InvestmentsLn 11–13$380.8M$340.4M
Land, buildings, equipmentLn 10c$200.2M$190.3M
Total assetsLn 16$664.5M$624.2M
LiabilitiesLn 26$104.6M$86.6M
Net assetsLn 32$559.9M$537.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$10.6M$10.6M
Pay of current officers, directors and key staffLn 5$2.8M$973K$1.5M$323K
Other salaries and wagesLn 7$57.6M$48.3M$7.0M$2.3M
Pension plan contributionsLn 8$5.4M$3.8M$1.1M$525K
Other employee benefitsLn 9$15.2M$10.8M$2.9M$1.5M
Payroll taxesLn 10$4.4M$3.1M$882K$441K
Legal feesLn 11b−$3.5M−$3.5M
Accounting feesLn 11c$166K$166K
Professional fundraising feesLn 11e$46K$46K
Investment management feesLn 11f$857K$857K
Other fees for servicesLn 11g$2.1M$1.1M$886K$128K
Advertising and promotionLn 12$74K$74K
Office expensesLn 13$6.9M$4.6M$1.9M$404K
Information technologyLn 14$3.1M$2.3M$633K$166K
RoyaltiesLn 15$3K$3K
OccupancyLn 16$2.8M$2.0M$558K$244K
TravelLn 17$1.1M$367K$527K$159K
Conferences, conventions and meetingsLn 19$284K$188K$88K$9K
Depreciation, depletion and amortizationLn 22$12.3M$12.0M$211K$56K
InsuranceLn 23$2.0M$1.7M$240K$62K
Other expenses (24a–d)Ln 24$1.9M$1.4M$397K$16K
All other expensesLn 24e$179K$38K$135K$6K
Total functional expensesLn 25$126.2M$103.3M$16.6M$6.4M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $171.3M$153.9M$17.4M$670.4M 990 PDF
FY2024 $157.4M$145.9M$11.5M$625.1M 990 PDF
FY2023 $146.4M$139.4M$7.0M$569.9M 990 PDF
FY2022 Viewing $143.1M$126.2M$16.9M$537.6M 990 PDF
FY2021 $122.3M$167.1M−$44.9M$559.9M 990 PDF
FY2020 $122.7M$127.1M−$4.5M$484.9M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $143,107,481 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $12,927,512$22,029,951
I-9 Program service revenuePrior year $106,563,859$114,481,158
I-10 Investment incomePrior year $2,439,757$4,624,764
I-11 Other revenuePrior year $320,378$1,971,608
I-12 Total revenuePrior year $122,251,506$143,107,481
I-13 Grants and similar amounts paidPrior year $10,920,634$10,556,949
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $85,659,174$85,290,747
I-16a Professional fundraising feesPrior year $21,600$45,674
I-17 Other expensesPrior year $70,503,327$30,314,869
I-18 Total expensesPrior year $167,104,735$126,208,239
I-19 Revenue less expensesPrior year −$44,853,229$16,899,242
Part VI · Governance 16 of 16 board members independent, 1 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $143,107,481 across 11 lines filed
Lines not itemized here account for $295,611 of total revenue; see the IRS return.
VIII-1d Related organizations$2,660,807
VIII-1f All other contributions, gifts and grants$19,369,144
VIII-1g Noncash contributions (included above)$2,262,834
VIII-1h Total contributions, gifts and grants$22,029,951
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $114,481,158$114,481,158
VIII-3 Investment incomeUnrelated business −$549,462 · Excluded from tax $5,144,938$4,595,476
VIII-6 Net rental income or lossExcluded from tax $201,666$201,666
VIII-7 Net gain or loss on sales of assetsExcluded from tax $29,288$29,288
VIII-8 Net income from fundraising eventsExcluded from tax −$85,431−$85,431
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $1,559,762$1,559,762
VIII-12 Total revenueRelated to mission $114,481,158 · Unrelated business −$549,462 · Excluded from tax $7,145,834$143,107,481
Part IX · Statement of functional expenses $126,208,239 across 22 lines filed
IX-2 Grants to domestic individualsPrograms $10,556,949$10,556,949
IX-5 Pay of current officers, directors and key staffPrograms $972,863 · Management $1,469,661 · Fundraising $323,261$2,765,785
IX-7 Other salaries and wagesPrograms $48,270,947 · Management $7,012,892 · Fundraising $2,266,865$57,550,704
IX-8 Pension plan contributionsPrograms $3,771,018 · Management $1,057,207 · Fundraising $524,714$5,352,939
IX-9 Other employee benefitsPrograms $10,763,182 · Management $2,945,166 · Fundraising $1,504,151$15,212,499
IX-10 Payroll taxesPrograms $3,086,174 · Management $881,764 · Fundraising $440,882$4,408,820
IX-11b Legal feesManagement −$3,461,588−$3,461,588
IX-11c Accounting feesManagement $166,141$166,141
IX-11e Professional fundraising feesFundraising $45,674$45,674
IX-11f Investment management feesManagement $856,726$856,726
IX-11g Other fees for servicesPrograms $1,066,071 · Management $885,708 · Fundraising $128,030$2,079,809
IX-12 Advertising and promotionManagement $74,242$74,242
IX-13 Office expensesPrograms $4,600,539 · Management $1,928,844 · Fundraising $404,323$6,933,706
IX-14 Information technologyPrograms $2,344,813 · Management $632,553 · Fundraising $165,559$3,142,925
IX-15 RoyaltiesPrograms $2,926$2,926
IX-16 OccupancyPrograms $2,039,050 · Management $557,743 · Fundraising $243,560$2,840,353
IX-17 TravelPrograms $366,951 · Management $526,859 · Fundraising $158,917$1,052,727
IX-19 Conferences, conventions and meetingsPrograms $187,885 · Management $87,645 · Fundraising $8,561$284,091
IX-22 Depreciation, depletion and amortizationPrograms $12,025,560 · Management $210,960 · Fundraising $55,795$12,292,315
IX-23 InsurancePrograms $1,718,704 · Management $239,751 · Fundraising $62,273$2,020,728
IX-24 Other expenses (24a–d)Programs $1,438,448 · Management $396,548 · Fundraising $16,270$1,851,266
IX-24e All other expensesPrograms $38,181 · Management $134,755 · Fundraising $5,566$178,502
IX-25 Total functional expensesPrograms $103,250,261 · Management $16,603,577 · Fundraising $6,354,401$126,208,239
Part X · Balance sheet $624,153,689 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $32,165,074$41,147,046
X-2 Savings and temporary cash investmentsStart of year $5,127,119$6,528,154
X-3 Pledges and grants receivableStart of year $14,681,257$12,909,350
X-4 Accounts receivableStart of year $19,037$4,375,860
X-8 Inventories for sale or useStart of year $1,580,198$213,108
X-9 Prepaid expenses and deferred chargesStart of year $1,793,595$2,161,593
X-10c Land, buildings and equipment, netStart of year $200,233,721$190,261,228
X-11 Publicly traded securitiesStart of year $85,349,030$118,309,411
X-12 Other securitiesStart of year $295,420,342$222,125,737
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $28,166,889$26,122,202
X-16 Total assetsStart of year $664,536,262$624,153,689
X-17 Accounts payable and accrued expensesStart of year $9,788,396$6,416,740
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $8,036,233$8,884,489
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $66,782,224$23,087,160
X-26 Total liabilitiesStart of year $104,606,853$86,563,389
X-27 Net assets without donor restrictionsStart of year $321,284,593$320,161,163
X-28 Net assets with donor restrictionsStart of year $238,644,816$217,429,137
X-32 Total net assets or fund balancesStart of year $559,929,409$537,590,300
X-33 Total liabilities and net assetsStart of year $664,536,262$624,153,689
Part XI · Reconciliation of net assets $537,590,300 net assets at year end
XI-1 Total revenue$143,107,481
XI-2 Total expenses$126,208,239
XI-3 Revenue less expenses$16,899,242
XI-4 Net assets at start of year$559,929,409
XI-5 Net unrealized gains (losses) on investments−$39,220,164
XI-9 Other changes in net assets−$18,187
XI-10 Net assets at end of year$537,590,300

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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