Tuition covers only 68% of the cost of educating each child. We make up the balance through income from our endowment and through contributions from our constituents. The ‘Iolani Fund's unrestricted nature allows us to apply donations to best suit the school's needs.
The proceeds from the ‘Iolani Fund go to the school's operating budget and are used immediately. They support many qualities that make ‘Iolani extraordinary -- including a diverse student body, wonderfully accomplished faculty, a dynamic curriculum, extensive library resources, and advanced technologies.
Although the unrestricted ‘Iolani Fund allows the school to apply donations to where it is needed, you may designate which fund you would like your gift to apply. A few of those funds include endowment, scholarship, performing arts, visual arts, athletics, etc.
‘Iolani welcomes bequests which often can be provided by adding a simple codicil to an existing will or an amendment to a living trust. Bequests are attractive to donors who wish to retain control of their assets during their lifetimes and to assist ‘Iolani School at a future date.
‘Iolani welcomes real estate transferred during a lifetime (resulting in an income tax deduction) or transferred by will resulting in an estate tax deduction. Gifts of real estate would include a personal residence, a vacation home, a farm or ranch, income producing rental property, or undeveloped land. For more information, visit Gifts of Property.
A gift annuity is a contract under which ‘Iolani School, in return for a transfer of cash or other property, agrees to pay a fixed sum of money for a period measured by one or two lives. Gifts are not subject to immediate capital gains and provide donors with the security of fixed income fully guaranteed by ‘Iolani School. ‘Iolani offers both immediate and deferred annuities to meet the individual needs of its donors.
A charitable remainder trust provides current income for the trust's beneficiary after which the principal passes to ‘Iolani. A remainder trust created in the donor's lifetime avoids immediate capital gain tax.
A charitable lead trust provides current income for the school after which the principal passes to the trust beneficiary. It provides income to the school each year, usually for a fixed period of time. Thereafter, the principal passes to another generation, typically the donor's children or grandchildren at a significantly reduced gift or estate tax cost.