Ka Wai Ola - Office of Hawaiian Affairs, Volume 21, Number 2, 1 Pepeluali 2004 — Page 17 Advertisements Column 1 [ADVERTISEMENT]

KAMEHAMEHA SCHOOLS I S^\lSBBB JULY 1, 2002 - JUNE 30, |K^H REPORT ON FINANCIAL ACTIYITIES As of June 30, 2003, the estimated fair market value of Kamehameha I Schools' total assets was approximately 6.5 hillion. In the July 1, 2002 - I June 30, 2003 period, a net amount of about $289 million was spent on I educational programs, including the financing of $70 million in capital I projects. I These hnaneial resources enabled Kamehameha Schools to extend its I educational reach to more than 150,000 learners in the following ways: • Early Childhood Education: 1,356 three- and four-year-olds in KS preschools statewide. • Grades K- 12: 4,427 full-time students at campuses in Kapālama, O'ahu; Pukalani, Maui; and Kea'au, Hawai'i. • Extension Education: 145,588 learners of all ages through part-time community outreach programs, conferences, workshops, classes, distance education programs, tours and presentations. • Post-High Financial Aid: 3,109 college and vocational scholarship recipients.

C0ST 0R ESTIMATED FAIR MARKET VALUE CASH AND EQUIVALENTS $ 168,068 (Face value) INVESTMENTS Marketable debt and equity securities (Quoted market pnee value) Oommon and preferred stocks $ 1,356,522 Corporate debt securities 390,844 Government assets and mortgaged backed securities 557,218 Short-term investments 203,456 Mutualandcommingledfunds 897,979 3,406,019 Privately placed debt and equity securities (Cash tlow, collateral or appraised value) Equity investments 339,219 Direct financing lease 36,256 Loans and subordinated debentures 8,299 383,774 RECEIVABLES (Value via comparison to market interest rates) Tenant and tuition receivables (net) 3,773 Note agreements - fee conversion land sales & Other 31 ,590 lnterest 8,658 44,021 DEFERRED CHARGES AND OTHER 38,637 (Book value) REAL ESTATE HELD FOR DEVELOPMENT AND SALE 16,129 (Appraised, net realizable value or book value) LAND, BUILDINGS AND EQUIPMENT - HAWAI'I REAL ESTATE: (Appraised, current tax assessed or book value -netof debt) Residential and commercial 1 ,656,579 Schools 529,910 Agriculture and conservation 196,706 LAND, BUILDINGS AND EQUIPMENT - NORTH AMERICAN REAL ESTATE 31 ,324 2,41 4,51 9 (Appraised or book value) OIL AND GAS PROPERTIES & RELATED ASSETS (DISCONTINUED ACTIVITIES) 1 ,292 (Book value) TOTAL ASSETS $ 6,472,459 Kamehameha Schools a cijriTiriuiriG e i j m m i T m e r i T

ISLAND AREA IN ACRES PERCENTAGE OFTOTAL HAWAI'I lmproved Residential 40.5776 0.01 Apartment 114.1018 0.04 Commercial 174.3139 0.06 lndustrial 85.8618 0.03 Agricultural 196,534.4586 66.48 Conservation 96,762.0157 32.73 Hotel and Resort 203.4948 0.07 Unimproved Residential 1,550.3253 0.52 Homeowner 160.2067 0.06 TOTAL 295,625.3562 100.00 KAUA'I lndustrial 14.7836 0.12 Agricultural 1,185.3319 10.10 Conservation 10,540.1970 89.78 TOTAL 11,740.3125 100.00 MAUI lmproved Residential 15.0000 0.56 Apartment 1 .6880 0.06 Commercial 5.4061 0.20 lndustrial 3.5010 0.13 Agricultural 937.3970 34.77 Conservation 1 ,560.6360 57.89 Hotel and Resort 8.6280 0.32 Unimproved Residential 163.5250 6.07 Homeowner 0.0000 0.00 TOTAL 2,695.7811 100.00 MOLOKA'I Agricultural 3,392.0630 68.51 Conservation 1,559.3600 31.49 TOTAL 4,951.4230 100.00 O'AHU lmproved Residential 293.2842 0.58 Apartment 578.7905 1.14 Commercial 876.4634 1.73 lndustrial 156.8153 0.31 Agricultural 17,434.9497 34.35 Conservation 29,034.1210 57.21 Hotel and Resort 19.5111 0.04 Unimproved Residential 2,353.1871 4.64 TOTAL 50,747.1223 100.00 SUMMARY lmproved Residential 348.8618 0.10 Apartment 694.5803 0.19 Commercial 1,056.1834 0.29 lndustrial 260.9617 0.07 Agricultural 219,484.2002 60.01 Conservation 139,456.3297 38.13 Hotel and Resort 231.6339 0.06 Unimproved Residential 4,067.0374 1.11 Homeowner 160.2067 0.04 TOTAL 365,759.9951 100.00