$4.0M in expenses

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.