Plan a gift… leave a legacy.
Everyone needs a plan for the future. Designating a charitable gift in your estate plans allows you to:
- Receive income and valuable tax savings during your lifetime
- Maximize the benefits of your assets for you and your loved ones
- Make a significant charitable contribution that might not otherwise be possible
Campus landmarks, student scholarships, program endowments, and many other critical needs can be realized by naming Chaminade University as a beneficiary in your bequest, retirement plan, or gift of real estate. There are many, simple ways to create a gift plan that can provide both personal meaning and financial benefits for you and your family.
If you already designated Chaminade in your estate plans, please let us know so we can be sure that we understand your intent. We make an effort to recognize our Heritage Society members, who are among our most generous alumni, parents, faculty, staff, board, and community members providing considerable support and long-term stability for our University through their planned gifts.
Mahalo for investing in the future of Chaminade!
Contact us (808) 735-4761 or at [email protected], so we can help find the right option for you.
It is possible for anyone to make a legacy gift—one that will last beyond their lifetime. We are able to work with you and your legal advisors to assist in finding the right option for you. There are many types of planned gifts.
Gifts You See in Action
Appreciated Securities or Real Estate
Gifts of appreciated stocks, securities or real estate provide added benefits for you and your beneficiaries if you have owned the asset for more than a year. In addition to receiving a tax deduction for the asset’s full fair-market value, you may also avoid tax on the capital gain.
Gifts That Pay You Income
Some gifts actually “return the favor” by combining a charitable gift with life income payments to you and/or your beneficiaries. These plans can help you make a substantial gift for the eventual benefit of Chaminade students while still providing for your current financial needs or those of your loved ones. They offer significant tax advantages and, depending on the asset contributed, may even increase your cash flow.
Charitable Gift Annuity
In exchange for a contribution of cash or securities, Chaminade pays you or anyone you designate with fixed annual payments for life. You receive an income tax deduction for part of the gift amount plus the annuity payments are partially tax-free. When the gift annuity ends, Chaminade then applies the remaining balance of your contribution towards your gift intentions.
Charitable Remainder Trust
With a charitable remainder trust, you or others that you designate receive a fixed or variable income for life or a set number of years. At the time of transfer, you receive a tax deduction for the present value of the remainder interest. Another advantage is the avoidance of capital gains tax if you give appreciated property.
Gifts That You Can Maintain Flexibility
These deferred gifts allow you to establish your legacy today while retaining assets that you might need during your lifetime.
A bequest to Chaminade can be made easily in your will or living trust and can take one
of several forms:
- A specific amount of money: “I give the sum of $___ to Chaminade University of Honolulu, to be used for educating students.”
- A specific percentage of your residuary estate: “I give ____ percent of my residual estate…”
- A specific piece of property: “I give my shares of XYZ stock…”
- A bequest may also take effect only under specific circumstances: “If my spouse does not survive me…”
Because they are revocable, bequests and beneficiary designations provide no current federal income tax deduction, but when distributed, they will be deductible from your taxable estate.
Beneficiary Designations of Retirement & Other Assets
You can designate Chaminade as one, or the sole, beneficiary of retirement plans, life insurance policies, savings bonds, annuity contracts and bank or brokerage accounts. It is a tax-wise way to give because Chaminade is exempt from income taxes that would be owed by your heirs on gifts from these sources.
Retained Life Estate
You may donate your residence, vacation home or farm to Chaminade, but retain the right to occupy or use the property for your lifetime. You make a generous gift but your lifestyle remains exactly the same. Unlike a bequest, this type of gift is irrevocable; because of this, you would receive an immediate charitable deduction to use on your tax return.
Gifts that are Forever
Your gift – whether current or deferred – can be tailored to fulfill your philanthropic interests while also providing considerable tax savings for you and your beneficiaries. For example, you may wish to establish an endowed fund, such as with an endowed scholarship or program, named for you or a loved one. With endowments, the principal is kept intact in perpetuity and only a portion of the revenue it generates is released for use by Chaminade, meaning your name and legacy will be permanently associated with this charitable gift to Chaminade University.
The information contained here does not constitute legal, tax, or financial advice and should not be relied upon as a substitute for professional advice. Chaminade is able to assist with referring you to legal, estate planning or financial professionals before deciding on a course of action. Please contact Advancement at (808) 735-4761.