Faces of Philanthropy
Over the past five months, more than 600 of our volunteers, donors, clients, and professional advisor partners, joined us at events on O'ahu, Kaua'i, Maui, and the Big Island, making us truly, a statewide effort. We are always honored to hear personal expressions from our clients and donors about their philanthropy and to learn the impact of their giving through stories told by recipients. On Maui, Kirsten Gilchrist, shared her gratitude for the scholarship she received from the fund established by Paul Mancini, scholarship ambassador, donor, and Maui Leadership Council Member. "It's total strangers like Paul who believed in me that helped me to believe in myself. Your gift reminds me that I'm not the girl who had to overcome issues of self-confidence and anorexia; I'm the girl who can achieve her dreams of becoming a surgeon." Here are a few images from our HCF-hosted events across the state.
- Kelvin Taketa on HCF's role when working with Legacy Society members on leaving a legacy that will matter most to them.
The Hawai'i Community Foundation works closely with professional advisors - including estate planning attorneys, accountants and financial consultants - to help their clients fulfill their philanthropic goals. These three individuals received the HCF 2014 Outstanding Professional Advisor in Philanthropy Award for their exemplary practice of incorporating philanthropy into their everyday work.
Nancy Budd, Esq. Law Offices of Nancy Budd Kaua'i
Christopher R. Dang, Esq. Christopher R. Dang, LLLC Hawaii Estate Law Group O'ahu
Robert Kawahara, CPA Kawahara & Company Maui
The Hawai'i Community Foundation, in partnership with the Wallace Alexander Gerbode Foundation, recently presented the 2014 Ho'okele Awards. This annual award recognizes outstanding nonprofit leaders with a $10,000 gift to be used for their personal renewal and professional development.
This year's awardees are:
Suzanne Case, executive director, Hawai'i Program, The Nature Conservancy
Howard S. Garval, president and chief executive officer, Child & Family Service
Nanci Kreidman, M.A., chief executive officer and co-founder, Domestic Violence Action Center
Nola A. Nahulu, artistic director, Hawai'i Youth Opera Chorus
To learn more about how HCF is working toward increasing nonprofit excellence across the islands of Hawai'i, visit hawaiicommunityfoundation.org.
(l-r) Stacie Ma'a, president, Wallace Alexander Gerbode Foundation; Suzanne Case, executive director, Hawai'i Program, The Nature Conservancy;Nanci Kreidman, M.A., CEO and co-founder, Domestic Violence Action Center; Howard S. Garval, president & CEO, Child Family Service; Nola A.Nahulu, artistic director, Hawai'i Youth Opera Chorus; Kelvin Taketa, president and CEO, Hawai'i Community Foundation
With income tax rates at an all-time high and the expectation that 25% of our local population (or approximately 350,000 residents) will be 65 years or older within the coming years, it's no surprise that we continue to receive more and more inquiries regarding "charitable trusts" and "charitable gift annuities." Both are tax-efficient vehicles that offer "fixed" payment opportunities for retirees. These are hardly new. They've been around for quite a while and were very popular in the 80's and early 90';s... i.e., another period of time when taxes were high and assets values were increasing. Here's a clear example of how this works: Assume a 65-year old couple establishes a $100,000 charitable gift annuity (CGA) at the Foundation. In return for their gift, they'll receive (1) an upfront charitable deduction of $26,168; (2) a 4.2% fixed annual annuity of $4,200 for their respective lifetimes, a portion of which is income tax-free; and (3) if invested properly, $50,000 left at the end of the annuity term to seed or enhance a charitable fund with us. A CGA is fairly attractive for those looking for fixed payments to complement their existing retirement portfolio, especially when looking at current options. (See chart). While providing a financial safeguard for themselves, the silver lining in this situation is that the couple was able to afford a meaningful gift with the remaining balance of the gift annuity to establish a charitable fund to benefit medical research in memory of their son, who had recently succumbed to cancer. They report to us that this was the most important aspect of the gift! Please contact me to learn more: csaiki@hcf-hawaii.org or 808-566-5521.