May 11, 2001
Contributed by CEO Message
The information contained in this report represents a most remarkable year
for our organization - one in which Kamehameha's educational system
provided:
4,862 students with Preschool through Grade 12 educational opportunities
5,955 students with KS and DOE summer programs statewide
$5.3 million in Preschool - Grade 12 financial aid
$17.7 million in post-high school scholarships to 4,358 recipients through Kamehameha,
federal, community and private funding
The report, prepared in part in response to Probate Court requirements, presents consolidated financial statements for Kamehameha and its subsidiaries in accordance with GAAP (Generally Accepted Accounting Principles), a Schedule of Trust Distributions and Spending, and a Schedule of Total Return (market value and performance of endowment assets).
In addition to its Annual Report, Kamehameha will also file its IRS Form 990 for 1999-2000 this month. This form provides information specific to KS' primary exempt purpose of education, including program accomplishments and certain financial data.
At the end of May, Kamehameha will also publish in Honolulu's two daily newspapers and the Office of Hawaiian Affairs monthly publication a report of Kamehameha Schools' fair market value of the Trust's assets. This statement of both program and endowment assets is published in compliance with the requirements of the will of Bernice Pauahi Bishop.
This year was truly one of accomplishment and renewal of both spirit and purpose - a year for which we owe an enormous debt of gratitude to all of you who maintained confidence in and endorsement of our efforts and our programs. I hope these various reports provide you with a clear picture of Kamehameha's progress during this landmark year. With a new and inclusive Strategic Plan to steer the way, investment, spending and operating policies to guide us, and the commitment and expertise of our employees and families, Kamehameha is well on its way to fulfilling our vision for the future.
I mua Kamehameha!
Kamehameha Schools’ policy is to give preference to applicants of Hawaiian ancestry to the extent permitted by law.
