Endowed Funds

Punahou’s endowment is a sustainable funding source that provides current and future revenue streams to support the School’s educational mission and vision.

The endowment consists of 900 separate restricted and unrestricted funds established over many years for a wide variety of purposes, with a total estimated market value of $426.2M as of June 30, 2025.

The Impact of Punahou’s Endowment

As of June 30, 2025, Punahou’s endowment had a market value of $425 million. In the 2024 – 2025 school year, contributions to the endowment represented 24% of outright gift designations, while donor endowed funds provided more than $14.4 million to support school priorities.

- How Endowed Funds Work
  
  A percentage of the entire endowment is used each year to support the designated purpose of each individual fund. There are three types of endowed funds that make up the endowment:

List of 3 items.

Financial Aid Fund

Can be established with a minimum outright or pledged gift of $25,000, and the pledge period can be spread over five years
General Program or Unrestricted Fund

Can be established with a minimum outright or pledged gift of $25,000, and the pledge period can be spread over five years
Restricted Endowed Program Fund

Can be established with a minimum outright gift or pledged gift of $100,000, and the pledge period can be spread over five years

List of 5 items.

Financial Aid Funds

Provide financial aid resources, enabling Punahou to build a diverse student body that reflects Hawaiʻi’s socioeconomic and ethnic demographics. The income distribution from these funds typically provides over half of the financial aid awarded to Punahou students. Student financial aid recipients are advised of the endowed fund that supports their education, and receive a short history of the fund and the people it honors.
Legacy Funds

Are named endowed funds, which generate income for the school’s unrestricted operational use.
Program Funds

Contribute to a variety of programs and activities at Punahou. Their income is restricted to specific uses as defined by agreement between Punahou and the donor. Program funds support faculty and staff, curriculum development, and specific areas of study and activity across the campus, such as Athletics, Art, Ethics, Global Education, Hawaiiana, Music, Public Service, Sustainability and Technology.
Restricted Funds

Direct income to financial aid or provide support for faculty, programs and facilities. Punahou’s Advancement staff work with donors to determine the best direction for the use of their funds, within the scope of the needs of the School and in accordance with the donor’s wishes.
Unrestricted Funds

Within the endowment generate income to fund the operations of the school and specific needs that the school identifies.

Fund Management

All endowed funds are held in perpetuity and invested as part of Punahou’s overall endowment. Payout from the endowment is 4.5% over 20 rolling quarters.

The book and market values of endowed funds are reported to donors annually, along with a brief description of the use of the funds. In the case of endowed financial aid funds, donors receive thank you correspondence from student beneficiaries. In addition, all named endowed funds are listed in the annual report.

Punahou’s endowment is managed by the Investment Committee of the Board of Trustees, and Cambridge Associates, LLC has been our portfolio advisor since 1997.