“To give away money is an easy matter and in any man’s power. But to decide to whom to give it and how large and when, and for what purpose and how, is neither in every man’s power nor an easy matter.” – Aristotle
About Us: We’re here to help
Bank of Hawaii’s Charitable Foundation Services Department was established to serve private foundations in Hawaii and their grantmaking needs. The department’s eight staff members include three account officers (one with a JD/MBA), one grants administrator, and four specialists.
The Private Foundation
A private foundation is a nonprofit corporation or trust established for religious, charitable, scientific, literary, or educational purposes. Private foundations are usually funded by one person, a family, or a business. Funds used to establish a foundation are generally held as an endowment; a portion of the investment return funds the giving program and pays foundation expenses. The donors may retain control and flexibility in how their funds are used.
Administering the Foundation
Bank of Hawaii’s Charitable Foundation Services Department can provide the required technical assistance, referrals and guidance on establishing and administering a private foundation.
As your trustee or agent, we will address the many tax and practical questions that arise in the foundation’s administration so you can focus on your charitable giving. We offer grantmaking, fiduciary, and administrative services, along with asset custody, recordkeeping, and strategic asset management. Our skilled staff will work with you to handle all of your bill payment, preparation and distribution of charitable grants, and monitoring of grants to assure IRS requirements are met; if desired, our staff can eliminate the need for the foundation to maintain a separate office or employees.