Punahou School

Nonprofit profile at a glance

EIN
990073523
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Honolulu, HI, USA
Phone
(808) 944-5711
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$171,314,979
Expenses
$153,942,224
Assets
$742,618,217
Liabilities
$72,185,377

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

28 people listed

Executive titles in this filing

  • MICHAEL E LATHAM (PRESIDENT)

Highest reported compensation

  • MICHAEL E LATHAM (PRESIDENT): $747,827 total reported compensation
  • SUNNY DONENFELD (VP - FINANCE OPS AND TREASURER): $461,714 total reported compensation
  • GUSTAVO CARRERA (PRINCIPAL - ACADEMY): $364,939 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Punahou School educates students to become the next generation of leaders and innovators.

What it reported doing in 2024

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) with approximately 2,000 students and the academy (grades 9-12) with approximately 1,700 students. The junior school is divided into three self-contained sections to meet the special needs of these groups of children: omidyar k-1 neighborhood, kosasa community for grades 2-5, and case middle school for grades 6-8. Academy classroom size averages 18-22 students. Academy students can customize their mix of classes from an extensive catalog of courses within a modular schedule. College preparatory graduation requirements include credits in english, science, social studies, mathematics, language, physical education, visual and performing arts, and community service.students are also encouraged to explore other interests and build skills beyond those developed in the classroom through participation in punahou's academic centers and various initiatives, including the case accelerator for student entrepreneurship (case), design technology and engineering, kuaihelani center for 'ike Hawaii, luke center for public service, outdoor education, and the wo international center. These academic centers and initiatives offer mentorship, hands-on experiences, and learning opportunities in areas such as entrepreneurship, engaged citizenship, hawaiian studies, and civic and global education. Students that demonstrate competency in these respective areas will receive an official distinction on their transcripts.

Operating model

Revenue model
Earned-program. 86% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 92% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 81
  • Accountability: 100
  • Sustainability: 75
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.1%; rating input score 81
  • Program expense ratio: 83.7%; rating input score 84
  • Fundraising efficiency: $3.29 raised per $1 spent on fundraising; rating input score 12; 12th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 99.9%; rating input score 100; 47th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 10.1%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 4.82; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 83; 83rd percentile among comparable filings
  • Officer compensation ratio: 2.5%; rating input score 46; 46th percentile among comparable filings

Growth

  • Program expense growth: 3.3% per year; rating input score 100; 24th percentile among comparable filings
  • Revenue growth: 3.4% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: 5.4% per year; rating input score 100; 40th percentile among comparable filings

Details

  • What they do: 1 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 81.1% of revenue deployed · 83.7% of spending went to programs
  • Governance: 17 of 17 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $128.8M in reported program spending
  • Leadership: top reported pay $748K · 28 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $8.8M reported
  • Consistency: 47 of 47 current checks pass
  • Schedules: 13 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 12/100.
  • Moderate — Sustainability: Officer compensation ratio scored 46/100.