2026-09-24T14:33:02-05:00 2024-12-31 393984182 ACCUITY ADVISORS LLC 999 BISHOP ST STE 2300 HONOLULU HI 96813 990PF 2024-09-30 333817712 MANNY CARVALHO FOUNDATION MANN 8089362771 1134 KUKUAU STREET HILO HI 96720 MICHELE A CARVALHO TRUSTEE 8089362771 2026-09-19 1 0 DENISE SHIGETA P01225739 8085313400 2024 X X X 982225 X 1000000 6208 6208 5986 5986 5986 1012194 12194 0 0 0 376 376 0 376 376 0 0 0 376 376 0 1011818 11818 39429 39429 0 972389 942796 0 1011818 982225 0 0 X 0 1011818 0 0 0 0 0 1011818 0 1011818 0 1011818 0 1011818 0 1011818 CAPITAL GAINS DIVIDENDS P 5986 5986 5986 5986 164 0 164 0 164 0 0 0 0 0 0 164 0 0 0 0 0 0 0 0 0 0 1 1 HI 1 0 1 0 0 1 N/A MICHELE A CARVALHO 8089362771 1134 KUKUAU STREET HILO HI 96720 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 MICHELE A CARVALHO 1134 KUKUAU STREET HILO HI 96720 TRUSTEE 1.00 0 0 0 DAVID G CARVALHO SR 1134 KUKUAU STREET HILO HI 96720 TRUSTEE 1.00 0 0 0 NONE 0 NONE 0 0 522695 449651 0 972346 0 0 972346 14585 957761 12202 12202 164 164 12038 0 12038 0 12038 0 0 0 12038 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 12038 0 0 0 MICHELE A CARVALHO DAVID G CARVALHO SR MICHELE A CARVALHO 1134 KUKUAU STREET HILO HI 96720 8089362771 N/A N/A N/A 0 0 14 6208 18 5986 0 12194 0 12194 0 0 0 0 0 0 0 0 0 0 X X 1 MICHELE A CARVALHO 1134 KUKUAU STREET HILO HI 96720 500000 X 2 DAVID G CARVALHO SR 1134 KUKUAU STREET HILO HI 96720 500000 X BOH - MUTUAL FUND - FIXED INCOME AT COST 240470 238561 BOH - MUTUAL FUND - EQUITY AT COST 731919 704235 INVESTMENT MANAGEMENT FEES 376 376 0 MANNY CARVALHO FOUNDATION RESPECTFULLY REQUESTS THAT THE IRS REMOVE THE PENALTY FOR FILING ITS 2024 FORM 990-PF LATE. THE ORGANIZATION IS SUBMITTING THE COMPLETED RETURN WITH THIS REQUEST AND ASKS FOR RELIEF BASED ON REASONABLE CAUSE UNDER INTERNAL REVENUE CODE SECTION 6652(C)(5).THE ORGANIZATION WAS NEWLY ESTABLISHED AND BEGAN RECEIVING OR HOLDING FUNDS IN AN ACCOUNT IN LATE 2024. AT THAT TIME, THE ORGANIZATION'S OFFICERS AND DIRECTORS DID NOT UNDERSTAND THAT ITS IRS DETERMINATION LETTER, RECEIVED 8/28/25, WHICH RECOGNIZED THE ORGANIZATION AS TAX-EXEMPT UNDER SECTION 501(C)(3) AND CLASSIFIED IT AS A PRIVATE FOUNDATION EFFECTIVE SEPTEMBER 30, 2024, REQUIRED IT TO FILE A FORM 990-PF FOR 2024.THE ORGANIZATION DID NOT KNOWINGLY DISREGARD ITS FILING RESPONSIBILITIES. IT BELIEVED, INCORRECTLY, THAT NO 2024 RETURN WAS REQUIRED BECAUSE IT WAS NEWLY FORMED AND HAD NO GRANT ACTIVITY. BECAUSE THE ORGANIZATION WAS UNAWARE OF THE FILING REQUIREMENT, IT ALSO DID NOT REQUEST AN EXTENSION BEFORE THE RETURN'S DUE DATE OF MAY 15, 2025.UPON PREPARATION OF THE FOUNDATION'S 2025 TAX RETURN, WHICH WAS BELIEVED TO BE THE INITIAL RETURN, THE ORGANIZATION'S TAX PREPARER REVIEWED THE ORGANIZATION'S IRS RECORDS AND DETERMINATION LETTER AND DISCOVERED THAT THE ORGANIZATION'S TAX-EXEMPT AND PRIVATE-FOUNDATION STATUS APPLIED TO PART OF 2024. THE PREPARER PROMPTLY ADVISED THE ORGANIZATION THAT A 2024 FORM 990-PF WAS REQUIRED. AFTER LEARNING THIS, THE ORGANIZATION TOOK THE FOLLOWING STEPS:1. ENGAGED ACCUITY ADVISORS, LLC TO PREPARE THE RETURN;2. GATHERED AND REVIEWED ITS 2024 FINANCIAL RECORDS; AND3. PREPARED AND FILED THE 2024 FORM 990-PF.THE ORGANIZATION HAD NO PREVIOUS FORM 990-PF FILING HISTORY, NO PRIOR LATE-FILING PENALTIES, AND NO PAID EMPLOYEES OR TAX PROFESSIONAL RESPONSIBLE FOR MONITORING ITS FILING OBLIGATIONS DURING 2024 AND 2025.THE ORGANIZATION UNDERSTANDS THAT IT WAS RESPONSIBLE FOR MEETING ITS FILING DEADLINE. HOWEVER, THIS WAS ITS FIRST FILING PERIOD, AND THE FAILURE RESULTED FROM A MISUNDERSTANDING OF THE ORGANIZATION'S NEWLY RECOGNIZED STATUS AND THE EFFECTIVE DATE OF THAT STATUS, NOT FROM AN INTENTIONAL DECISION TO IGNORE THE FILING REQUIREMENT. ONCE THE ISSUE WAS DISCOVERED, THE ORGANIZATION ACTED PROMPTLY TO CORRECT IT AND HAS TAKEN STEPS TO PREVENT A RECURRENCE.FOR THESE REASONS, THE ORGANIZATION RESPECTFULLY REQUESTS THAT THE IRS REMOVE THE LATE-FILING PENALTY FOR THE 2024 FORM 990-PF BASED UPON REASONABLE CAUSE. MICHELE A CARVALHO 1134 KUKUAU STREET HILO HI 96720 DAVID G CARVALHO SR 1134 KUKUAU STREET HILO HI 96720