Planned Giving

The Heritage Society is a group of Chaminade alumni and friends who recognize the importance of the long-term mission of the University. This commitment is clearly reflected in the planned gift or endowment each member creates to ensure the future heritage of Chaminade University. Such gifts to the University have become an important source of support for Chaminade. They provide buildings, scholarships and resources to foster growth and excellence at the University.

Through recognition in The Heritage Society, the University hopes that many more alumni and friends will consider this way of supporting and sharing in Chaminade’s future.

Heritage Society members join because they:

• Believe in the mission of Chaminade.
• Wish to achieve their personal giving objectives by creating a major gift.
• Wish to enable future students and scholar/teachers to receive benefits they themselves enjoyed.
• Have fulfilled their desire to make a major gift commitment by pledging to give personal assets to Chaminade when they no longer need the income.

Membership in the Heritage Society enables donors to achieve a wide range of personal giving objectives and provides a variety of benefits, such as: The personal satisfaction of helping others and knowing that you have ensured a vibrant future for Chaminade; Potential tax benefits enacted by the federal government to encourage charitable gifts; Providing guaranteed financial protection for your loved ones through a gift annuity agreement; Membership and listing in the Chaminade Heritage Society.

Membership in The Heritage Society is open to all who have notified the University that they have provided for Chaminade by:

1.  Bequests:
The unlimited estate tax charitable deduction encourages bequests by reducing federal estate tax. Charitable bequests can take several forms: Specified amount of cash Percent of one’s estate Specific piece of property Residuary estate after all expenses, debts, taxes and specific bequests are satisfied Percentage of the residuary estate

Providing for Chaminade through a bequest is as simple as including the following language in your will or estate planning instrument.

• Specific Bequest:
  “I give and bequeath to Chaminade University of Honolulu the sum of (indicate specific amount). This bequest is unrestricted and the Board of Regents, or other governing body, may use and expend the same for the benefit of Chaminade University in any manner it deems appropriate.”
  
  
• Percentage Bequest:
  “I direct that Chaminade University of Honolulu shall receive (indicate specific percentage) percent of my estate free from and undiminished on account of any debts, expenses of administration, or death taxes. This bequest is unrestricted and the Board of Regents, or other governing body, may use and expend the same for the benefit of Chaminade University in any manner it deems appropriate.”
  
  
• Remainder Bequest:
  “I direct that Chaminade University of Honolulu shall receive (indicate specific percentage) percent of my net residuary estate after the payment of all my debts and expenses of administration (other than death taxes). This bequest is unrestricted and the Board of Regents, or other governing body, may use and expend the same for the benefit of Chaminade University in any manner it deems appropriate.”

Special Note:
The preceding clauses, of course, are suggested examples only. Always consult an estate planning attorney for proper legal advice. Should you wish to make a bequest to Chaminade University, restricted for a specific purpose, please contact us so we may create the wording necessary to accomplish your intentions.

2.  Revocable Living Trust
Trusts created during one’s lifetime, which are fully revocable, can include a gift to Chaminade University of Honolulu of a specific amount of cash, a specific property, a percentage of the trust assets or the residue of the trust assets after providing for other named beneficiaries.

3.  Life Income Gifts
Special arrangements can enable you to receive income for yourself and another designated person, such as an elderly parent, a child or your spouse. By itemizing deductions, you get a charitable income tax deduction for your gifts, while avoiding or substantially reducing capital gains tax on the sale and reinvestment of highly appreciated, but low-yield, assets used to fund the life-income gift.

Life income gifts include:

• Charitable Remainder Trusts
  You may transfer cash, securities, and/or real estate to an irrevocable trust which then pays you income – usually for your lifetime. You can choose either fixed payments based on the value of the assets when the trust is created or a variable income stream based on the value of the trust each year. The proceeds of the trust will eventually be transferred to the University and used as you have specified.
  
  
• Charitable Gift Annuities
  You may transfer cash and/or securities to Chaminade University and receive a fixed annuity for life. The transaction is part charitable gift and part purchase of an annuity. Charitable gift annuities can be either immediate or deferred, so that donors can begin receiving their annuity payments right away or at some specified time in the future. In either instance, the donor receives a charitable income tax deduction immediately.

4.  Real Estate
If you contribute real estate held for longer than one year, your income tax charitable deduction will be based on the asset’s full fair market value. You also avoid all capital gains tax on the property’s increase in value at the time the University sells the asset.

5.  Gift of your Home or Property
You may wish to deed a personal residence or parcel of land to Chaminade University now but retain the legal right for you and a survivor to live there for life. A substantial income tax deduction is available immediately and all the estate tax savings of a charitable bequest also are retained.

6.  Life Insurance
You can designate Chaminade University as the beneficiary of either a new or paid-up policy. Although no income tax deduction is generated, there will be no estate or gift tax on the value of the gift to Chaminade.

You can also name Chaminade as the contingent beneficiary, should your primary beneficiary not survive you. Or, you can make an irrevocable assignment of ownership of an insurance policy to the University, receiving an immediate income tax deduction based on the lesser of the policy’s value or the net premiums paid. You also may receive additional income tax deductions for future contributions to Chaminade for the payment of premiums.

7.  Tangible Personal Property
When donating such items as appreciated works of art, antiques or books, your deduction is based on the fair market value, providing the University’s use of the property is related to its educational function. Otherwise, the deduction is based on the lesser of your cost basis or fair market value.

8.  Bargain Sales
When you sell assets such as long-term appreciated securities or real estate to Chaminade at a price below fair market value, you have made a gift of the difference between the value and the sales price received, thus generating a tax deduction. A pro rata portion of any capital gains tax is avoided on the transaction.

9.  Charitable Lead Trust
Assets can be transferred to an irrevocable trust, which then makes payments to the University for a stated term. Trust assets can be returned to you at the end of the trust term or you can designate other individuals, such as younger family members, to receive the trust assets. Gift or estate tax is reduced or even eliminated on the transfer of property to other family members. (It is important that your own tax advisor assess potential generation skipping tax consequences before proceeding.)

10.  Cash
Cash gifts are deductible up to 50 percent of your adjusted gross income, if you itemize deductions.

Please consult your own financial or legal advisor before proceeding with any planned gift arrangement.