The Joshua M. Freeman Foundation’s Legacy Society was established to recognize and thank those supporters who have included the Foundation in their estate plans either through a will, trust, retirement or life insurance plans, bank accounts, or charitable trusts. Our programs continue to grow with the support of our donors who had the foresight to include the Foundation in their estate plans. Through your thoughtfulness, you can make a timeless commitment to continue the work of the Foundation, to ensure the arts are alive and available for everyone for years to come, and that your passion for the arts continues on as your family’s lasting legacy.
Bequest from your Will or Revocable Trust
Including the Joshua M. Freeman Foundation in your will or revocable trust agreement is a meaningful way to help us continue fulfilling our mission of making the arts accessible for everyone. Supporters can include a specific bequest for the Foundation or identify it as the beneficiary of last resort to leave a lasting legacy that reflects your passion for the arts and makes an impact on your community.
Retirement Assets
Retirement assets are one of the most impactful and tax-effective ways your gift can support the Joshua M. Freeman Foundation. With recent changes to tax laws, Congress has permitted people who are over 70 ½ to make direct transfers from qualified retirement accounts to non-profits like the Foundation and entirely avoid paying the income taxes on the distribution. Additionally, naming the Foundation as your retirement account beneficiary can enable you to contribute generously to the Foundation while minimizing the overall income taxes payable by your loved ones.
Life Insurance
Life insurance is often overlooked as an asset that you can use to make gifts to the Joshua M. Freeman Foundation. There are a number of ways to support our programs with an insurance-related gift, including listing the Foundation as a beneficiary on your policy.
Charitable Remainder Trust or Charitable Lead Trust
A Charitable Remainder Trust (CRT) is an arrangement that provides you and/or other beneficiaries with a stream of payments for life or for a period of years. After the trust terminates, the principal, or “remainder interest,” goes to the Joshua M. Freeman Foundation. Alternatively, a Charitable Lead Trust (CLT) provides a stream of payments to the Foundation, with the remainder interest going to beneficiaries. Unlike other life-income arrangements, CRTs and CLTs are separately invested and managed trusts. Please note that our Foundation does not manage these trusts for donors.
Other Planned Giving options:
Bank and Investment Accounts
"Payable on death" (POD) or "Transfer on Death" (TOD) accounts name a beneficiary to receive the proceeds upon your passing. You do not have to change your will or work with an attorney or accountant. There are no fees to arrange such a gift. You simply complete the beneficiary form given to you by the financial institution with the information below. You retain complete control over the funds or assets in the account while you are living, and these gifts are completely revocable.
Organization Information:
Legal Name: Joshua M. Freeman Foundation
Address: 31255 Americana Parkway, Selbyville, DE 19975
Telephone: (302) 436-3015
Federal Tax ID: 20-8592383
U.S. Savings Bonds
Although it is not possible to make a lifetime charitable gift of a savings bond without first paying the tax on the interest earned, it does make an excellent asset to bequeath to the Joshua M. Freeman Foundation. That’s because savings bonds generate “income in respect of a decedent.” That means if you die owning them, the accumulated interest is taxed before your heirs inherit them. However, if they are left to an organization like ours, that tax is not due. We suggest that you check with your advisors about the best way to bequeath your savings bonds to the Foundation.
If you have already included the Joshua M. Freeman Foundation in a bequest or other planned gift, we hope you will let us know (click here to share your information). Your willingness to be listed as a member of the Joshua M. Freeman Foundation donor encourages others to follow your example. We acknowledge and respect those who wish to remain anonymous, but we urge you to let us know of your plans on a confidential basis, as it allows the Foundation to plan for the future. If you are interested in receiving more information, please email Darren Silvis, Development Director, at darren@freemanfoundation.org