James Bolte gives $2.195 million to the Warrior Program!

About giving the money to the Warrior program, James Bolte said:
“The good Lord has been kind to me and I wanted to thank Him and the people of Hawai’i for their goodness. I hope to return to Hawai’i soon and cheer on our Warriors in person. My thanks to my attorney, Thomas Mui, for his assistance.” (HA)

HA Note: “James Bolte, a long-time University of Hawai’i fan, has pledged a $2.195 million charity remainder trust fund donation to the football team in the largest gift of its kind to the athletic department, officials said The money will be earmarked for scholarships and facilities upgrades, UH officials said. Under terms of the agreement, UH receives the money 10 years after Bolte’s death. Bolte, 80, is from a prominent kamaaina family and spent many years in the insurance business in Hawai’i. He is retired and living in Nevada, UH said.”

About the donation, JD said:
“it is great to have people step forward for our program like this. And it is going to take more selfless acts like this to help UH be competitive on a national level.” (HA)

HA Note: “Bolte reportedly had considered the donation for Nevada, a Western Athletic Conference rival of UH, but Mui, a long-time UH fan as well, encouraged him to go with his heart and history. UH Foundation spokeswoman Margot Schrire said, charity remainder trusts are irrevocable gifts established for charitable purposes where the donor receives an income stream for life and the designated charity receives the remainder value when the trust ends. Mui said the Bolte donation is tied to the lease rent of a parcel of land along Kalakaua Avenue in Waikiki.”

About the gift, UH Foundation spokewoman Margot Schrire said:
“We hope there will be more of these gifts; perhaps even larger gifts for this and other programs in the future.” (HA)

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