PARKER RANCH FOUNDATION TRUST ANNOUNCES DISTRIBUTION TO BENEFICIARIES CUMULATIVE DISTRIBUTIONS APPROACH $23 MILLION

Parker Ranch Foundation Trust (PRFT) recently announced distributions for 2012 to its four beneficiaries totaling $2,000,000. This is the third consecutive annual distribution of $2,000,000.

The Trust’s beneficiaries are appreciative of the support of the Parker Ranch Foundation Trust and the work of its Trustees. Saundra Gulley, Chair of the PRFT Distribution Committee stated, “The Beneficiaries are extremely grateful for the continued annual $2 million distribution made possible by the excellent progress at the Ranch and dedication of our Trustees over the past years. These funds significantly assist all of us—North Hawaii Community Hospital, Hawaii Community Foundation, Hawaii Preparatory Academy and the Parker School Trust Corporation—to continue to fulfill our, and Richard Smart’s, mission to support the betterment of the Waimea community.”

The 2012 distributions were allocated among the four beneficiary organizations as specified by Richard Smart in his Trust Agreement—48% to North Hawai’i Community Hospital, Inc.; 20% to the Richard Smart Fund of the Hawai’i Community Foundation; 16% to Hawai’i Preparatory Academy and 16% to Parker School Trust Corporation, in the following amounts:

• $ 960,000 to North Hawai’i Community Hospital, Inc.
• $ 400,000 to the Richard Smart Fund of the Hawai’i Community Foundation
• $ 320,000 to Hawai’i Preparatory Academy
• $ 320,000 to Parker School Trust Corporation

This latest distribution brings cumulative distributions from the Trust to $22,889,418 in cash and land since 1996. The distributions reflect Richard Smart’s commitment to the Waimea Community and his legacy of philanthropic giving. Smart, a sixth generation descendent of Ranch founder, John Palmer Parker, established the Trust before his death in 1992 to provide perpetual support to named beneficiaries who provide for health care, education and charitable purposes in Waimea.
For more information contact Nahua Guilloz at 808.885.2323 or visit http://www.prft.org.