Planned Giving

Your commitment to the Honolulu Museum of Art is important, and we invite you to strengthen that commitment by considering one of our planned giving opportunities. Planned gifts are the cornerstones that build our future, ensuring that the Honolulu Museum of Art continues to serve our island’s cultural needs for future generations.

Donors who include the museum in their estate plans are eligible to join the Anna Rice Cooke Society.

  • Bequests

    A bequest through your will or living trust is one of the most effective ways to provide for the future of the Honolulu Museum of Art. You may leave a gift of a specific dollar amount, a specific asset, or a percentage of your estate or residual estate.

      The most common way to make an estate gift is through a bequest in your will or living trust to benefit the Honolulu Museum of Art.

      To make a bequest to the Honolulu Museum of Art, you may need the following:

      Legal Name:  Honolulu Museum of Art
      Address:  900 S. Beretania Street, Honolulu, HI  96814
      Attn:  Planned Giving
      Main Phone Number:  808-532-8700
      Tax ID#:  99-0079713
      Nonprofit Status: 501(c)(3) not-for-profit corporation established in  Honolulu.

      This sample language may also be of assistance:
      “I give and bequeath to the Honolulu Museum of Art, 900 South Beretania Street, Honolulu, HI  96814, Attn:  Planned Giving [the sum of _________ dollars ($______)] [_____% of the rest, residue and remainder of my estate], to be used for its general charitable purposes.”

      Benefits

      Possible estate tax deduction
      Support for the Honolulu Museum of Art’s programs far into the future.

      We hope that you will let us know when you have named the Honolulu Museum of Art in your will or trust so that we may thank you and include you in our Anna Rice Cooke Society.

      For more information on how these gifts might work for you, please call Jessica Welch at 808-532-8715 or email jwelch@honolulumuseum.org.

      Planned Giving 
      Honolulu Museum of Art
      900 S. Beretania Street
      Honolulu, HI  96814

     
  • Charitable Gift Annuities

    An agreement between you and the Honolulu Museum of Art that provides you with regular fixed payments annually (an annuity) for life in exchange for transferring assets to the Honolulu Museum of Art.

      What are the benefits of a Charitable Gift Annuity with the Honolulu Museum of Art?

      - Fixed payments for the rest of your life, a portion of which are tax-free.
      - An immediate income tax charitable deduction for a portion of your gift. 
      - Capital gains tax savings if appreciated securities are donated. 
      - The opportunity to help a loved one as well as yourself.
      - Membership in the Anna Rice Cooke Society.

      How does it work?

      - Gifts can be made with cash or marketable securities. The minimum gift is $10,000.
      - The "fixed" payment amount you receive will be determined by how much you contribute and your age at the time the gift is made. 
      -  Income for life may be paid to one or two annuitants. The minimum age at which an annuitant can receive payment is 65.
      - A portion of the payment is tax-free.
      - A charitable deduction is available for a portion of your contribution on your income tax return in the year you make the gift.
      - Is it possible to defer receiving payments for one or more years. This will result in higher annuity payments, higher tax deduction (available in the year you make the gift), allowing you to enjoy increased retirement income. 

      What annuity rate am I eligible for?

      The Honolulu Museum of Art applies the rates set according to the American Council on Gift Annuities.  For specific gift annuity information relating to your annuity or for more information on how these gifts might work for you, please contact Jessica Welch at 808-532-8715 or jwelch@honolulumuseum.org

      Planned Giving, 
      Honolulu Museum of Art
      900 S. Beretania Street
      Honolulu, HI  96814

     
  • Charitable Lead Trusts

    An agreement between you and a trustee that provides income to the Honolulu Museum of Art for a period of years, at the end of which the trust property typically passes to an heir.

      Income-producing assets that are expected to gain in value such as stock or income-producing real estate are irrevocably transferred to a trust. A minimum gift of $100,000 is recommended. 

      The museum receives income from the trust for a specified number of years, after which the property in the trust is transferred to the heirs without the imposition of any additional taxes.

      An immediate charitable deduction on your gift tax return is available for the present value of the total income stream the museum will receive during the trust term. 

      This gift can reduce or effectively eliminate the gift and/or estate tax that would normally be payable on the transfer of these assets to your heirs.

      With gifts involving a Charitable Lead Trust, there are many variables to consider. Please call the Planned Giving Program directly to discuss your particular situation.

      For more information on how these gifts might work for you, please call Jessica Welch at 808-532-8715 or email jwelch@honolulumuseum.org.

      Planned Giving, 
      Honolulu Museum of Art
      900 S. Beretania Street
      Honolulu, HI  96814

     
  • Charitable Remainder Trusts

    An agreement between you and a trustee that can provide fixed or variable income to meet your specific financial needs, at the termination of which the remaining assets are passed to the Honolulu Museum of Art.

      This arrangement is an individually managed trust that may be tailored to meet your specific financial needs and can provide either a fixed or variable income for the life of the beneficiaries or for a set number of years, not to exceed 20.

      The donated assets (typically cash, securities, and/or real property) are irrevocably transferred to a Trustee.

      There are two variations:

      A charitable remainder annuity trust—pays income as a fixed dollar amount that remains constant for the term of the trust.

      A charitable remainder unitrust—pays income that varies from year to year. 

      At the termination of the trust, the remaining assets pass to the Honolulu Museum of Art for its general purposes or for the use you specify.

      A charitable deduction for a portion of your contribution is available on your income tax return in the year you make the gift. 

      With gifts involving a Charitable Remainder Trust, there are many variables to consider. Please call the Planned Giving Program directly to discuss your particular situation.

      For more information on how these gifts might work for you, please call Jessica Welch at 808-532-8715 or email jwelch@honolulumuseum.org.

      Planned Giving,
      Honolulu Museum of Art
      900 S. Beretania Street
      Honolulu, HI  96814

     
  • Retirement Assets, Life Insurance

    One of the simplest and most tax-advantaged ways of making a gift to the Honolulu Museum of Art is to name it as a beneficiary of your retirement fund or life insurance policy.

      Retirement account assets, if left to anyone other than a spouse, may be subject to very high taxation. However, by designating the Honolulu Museum of Art as recipient of any benefits remaining in your retirement plan, you may effectively reduce the taxes on those assets. Gifting these accounts makes use of the full value of the assets.

      Life Insurance. Like retirement accounts, many people have life insurance policies with significant balances. In some cases, these assets total more than is needed for a comfortable retirement and could give rise to heavy estate taxes. In that case, it may be wise to consider using these funds to make charitable gifts nor or in the future.

      What are the benefits of donating my retirement assets or life insurance policy?

      - Reduced taxes upon death
      - Can be accomplished by filling out a simple form
      - Membership in the Anna Rice Cooke Society
      - You will provide for the future of the Honolulu Museum of Art

      How would I go about naming the Honolulu Museum of Art as a beneficiary of my retirement accounts or life insurance policy?

      The first step is to request a “change of beneficiary” form from your retirement plan. You can name the Honolulu Museum of Art as sole or partial beneficiary, or you can name us as a contingent beneficiary in case you are predeceased by your primary beneficiary.

      You will need to list us as the following on the form:
      Honolulu Museum of Art 
      900 S. Beretania Street
      Honolulu, HI  96814
      Tax ID#:  99-0079713

      With gifts involving any of these assets, there are many variables to consider. Please call the Planned Giving Program directly to discuss your particular situation.

      For more information on how these gifts might work for you, please call Jessica Welch at 808-532-8715 or email jwelch@honolulumuseum.org.

      Planned Giving, 
      Honolulu Museum of Art
      900 S. Beretania Street
      Honolulu, HI  96814

     
  • Real Estate

    With gifts involving any of these assets, there are many variables to consider.

      You can enjoy the satisfaction of making such a gift during your lifetime—without affecting your current lifestyle—by a special arrangement called a retained life estate.

      Real estate can also be a valuable asset when used to fund either a charitable remainder trust or a charitable lead trust. 

      With gifts involving any of these assets, there are many variables to consider. Please call the Planned Giving Program directly to discuss your particular situation. 

      For more information on how these gifts might work for you, please call Jessica Welch at 808-532-8715 or email jwelch@honolulumuseum.org.

      Planned Giving, 
      Honolulu Museum of Art
      900 S. Beretania Street
      Honolulu, HI  96814

     

For more information

To learn more about how these gifts might work for you, please contact Jessica Welch at 808-532-8715 or jwelch@honolulumuseum.org