^90_P^ Return of Private Foundation OMB No 1545-0052 Fonn or Section 4947( a)(1) Nonexempt Charitable Trust ^oo^ Department of the Treasury Treated as a Private Foundation Internal Revenue Service Note : The foundation may be able to use a copy of this return to satis fy state rep ortin g re q uirements For calendar year 2007, or tax year beginning 12/01 , 2007, and ending 11/30/2008 G Check all t hat a pp l y Initial return Final return Amended return Address change Name change Name of foundation A Employer Identification number Use the IRS label. NEAL & JANE FREEMAN FOUNDATION , INC 13-3603615 Otherwise , Number and street ( or P 0 box number if mail is not delivered to street address ) Room / suite BTelephone number ( seepage 10 of the onbuctroml print or type. See Specific PO BOX 15909 ( 904 ) 321-1886 Instructions . City or town, state, and ZIP code C If exemption application is pending, check here D 1. Foreign organizations , check here FERANDINA BEACH FL 32035 2 Foreign organizations meeting the H Check t e of or anization X Section 501 c 3 exem p t p rivate foundation 85% test, check here and attach type g ( P computation . . . . . . . . . FI Section 4947 ( a )( 1 ) nonexem p t charitable trust Other taxable p rivate foundation E If private foundation status was terminated I Fair mark l e of all ets at end J Acco ntin method X Cash Accrual t Li g e va u ass u under section 507(b)(1)(A), check here . of year (from Part /1, col (c), line q Other (specify ) ___ __ ___ __ _ _ _____ _ F If the foundation is in a 60-month termination 16) $ 1 , 365 , 523. (Part 1, column (d) must be on cash basis) under section 507(b)( 1)(B), check here . o- F^ Analysis of Revenue and Expenses (The ( d) Disbursements total of amounts in columns (b), (c), and (d) (a ) Revenue and (b) Net investment (c) Adjusted net for charitable may not necessarily equal the amounts in expenses per books income income purposes column (a) (see page 11 of the instructions)) ( cash basis only) I Contributions . dts,grants , etc, received ( attach schedule ) . 200 , 000. 2 Check Ills, if the foundation is not required to attach Sch B 3 Interest on savings and temporary cash investments 2 , 409. 2 , 409. STMT 1 4 Dividends and interest from securities , , , , 42 , 731. 42 , 731. STMT 2 5a Gross rents . . . . . . . . . . . . . . . . . b Net rental income or (loss) at 6a Net gain or (loss ) from sale of assets not on line 10 -65 , 610. y b Gross sales price for all assets on line 6a 1, 158, 865 . 7 Capital gain net income (from Part IV , line 2) 8 Net short - term capital gain . . . . . . . . 9 Income modifications • • . 10 a Gross sales less returns and allowances b Less Cost of goods sold . c Gross profit or (loss ) ( attach schedule) . 11 Other income ( attach schedule ) , , , , , , , 12 Total . Add lines 1 throu gh 11 179 , 530. 45 , 140. 13 Compensation of officers, directors , trustees , etc NON . . 14 Other employee salaries and wages , , , , . 15 Pension plans , employee benefits a 16a Legal fees ( attach schedule) X yj , , , , , , , , , b Accounting fees (attach schedule) , . , , , • c Other professional fees ( attach schedule) . . 17 Interest . . . . . . . . . . . . . . . . . . . 0 18 Taxes ( attach schedule ) ( see page 14 of the instructionsf -A 699. 19 Depreciation ( attach schedule ) and depletion. 20 Occupancy , , , , , , , , , , , , , , , , , 0 21 Travel , conferences , and meetings 22 Printing and publications c 23 Other expenses ( a ^Ile! , 14 , 767. 14 , 767. m 24 Total operatin aalive expenses. 0 o. Add lines 13th 15 , 466. 14 , 767. 0 25 Contributios , gl rants t 71 , 100. 71 , 100. 26 Total expenses and dls hlents Add li rid 86 , 566. 14 , 767. 71 , 100. 27 Subtract line 26 from II ^ ' a Excess of revenue over ex lenses ar^I ements 92 , 964. b Net investment Inco negative , enter -0 -) 30 , 373. c Ad usted net income ( if n eg ative , enter - 0 -) . -0- L C" cm O C^i IV CM tZ For Privacy Act and Paperwork Reduction Act Notice , see page 30 of the Instructions . ** STMT 3 Form 990-PF (2007) JSA 7E14104000 4C204U E012 04/07/2009 15:32:08 V07-8.7 0102
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^90_P^ Return of Private Foundation OMB No 1545-0052
Fonn or Section 4947( a)(1) Nonexempt Charitable Trust ^oo^Department of the Treasury Treated as a Private FoundationInternal Revenue Service Note : The foundation may be able to use a copy of this return to satis fy state reporting requirements
For calendar year 2007, or tax year beginning 12/01 , 2007, and ending 11/30/2008
G Check all t hat a pp ly Initial return Final return Amended return Address change Name change
Name of foundation A Employer Identification number
Use the IRSlabel. NEAL & JANE FREEMAN FOUNDATION , INC 13-3603615
Otherwise , Number and street ( or P 0 box number if mail is not delivered to street address ) Room /suite BTelephone number ( seepage 10 of the onbuctroml
print
or type.See Specific PO BOX 15909 ( 904 ) 321-1886
Instructions .City or town, state, and ZIP code C If exemption application is
pending, check here
D 1. Foreign organizations , check here
FERANDINA BEACH FL 32035 2 Foreign organizations meeting the
H Check t e of or anization X Section 501 c 3 exem p t p rivate foundation85% test, check here and attach
type g ( P computation . . . . . . . . .
FI Section 4947 ( a )( 1 ) nonexem pt charitable trust Other taxable p rivate foundationE If private foundation status was terminated
I Fair mark l e of all ets at end J Acco ntin method X Cash Accrualt Lige va u ass u under section 507(b)(1)(A), check here .
of year (from Part /1, col (c), line q Other (specify ) _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ F If the foundation is in a 60-month termination
16) $ 1 , 365 , 523. (Part 1, column (d) must be on cash basis) under section 507(b)( 1)(B), check here . o- F^Analysis of Revenue and Expenses (The (d) Disbursementstotal of amounts in columns (b), (c), and (d)
(a ) Revenue and (b) Net investment (c) Adjusted net for charitablemay not necessarily equal the amounts in expenses per
booksincome income purposes
column (a) (see page 11 of the instructions)) ( cash basis only)
I Contributions . dts,grants , etc, received ( attach schedule ) . 200 , 000.
2 Check Ills,if the foundation is not required toattach Sch B
3 Interest on savings and temporary cash investments 2 , 409. 2 , 409. STMT 1
4 Dividends and interest from securities , , , , 42 , 731. 42 , 731. STMT 2
5a Gross rents . . . . . . . . . . . . . . . . .
b Net rental income or (loss)
at 6a Net gain or (loss ) from sale of assets not on line 10 -65 , 610.
yb Gross sales price for all
assets on line 6a 1, 158, 865 .
7 Capital gain net income (from Part IV , line 2)
8 Net short -term capital gain . . . . . . . .
9 Income modifications • • .10 a Gross sales less returns
and allowances
b Less Cost of goods sold
.
c Gross profit or (loss ) (attach schedule) .
11 Other income ( attach schedule) , , , , , , ,
12 Total . Add lines 1 throu g h 11 179 , 530. 45 , 140.
31 Total liabilities and net assets/fund balances ( see page 17
of the instructions ) . .....................
.
1 , 410 , 379. 1 , 503 , 343. 1
Analysis of Changes in Net Assets or Fund Balances1 Total net assets or fund balances at beginning of year - Part II, column ( a), line 30 (must agree with
deCom p lete onl y for assets showing g ain in column (h) and owned by the foundation on 12/31/69 (I) Gains (Col (h) gain minus
(1) F M V as of 12/31/69 (1) Adjusted basisas of 12/31/69
(k) Excess of col (t)over col Q), if any
col (k), but not less than -0-) orLosses (from col (h))
a
b
c
de
2 Capital gain net income or (net capital loss) . .If gain, also enter in Part I, line 7
{ If (loss), enter -0- in Part I, line 7 } 2 -65 , 610.3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6)
If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions)
If (loss), enter -0- in Part I, line 8. . . . . 3
Qualification Under Section 4940 ( e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income )
If section 4940(d)(2) applies, leave this part blank
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period'? . . . . Yes FX NoIf "Yes," the foundation does not qualify under section 4940(e) Do not complete this part
F-. ..L. 4 0 -9 4k- -6-- .- L...F,, nL,.. n!r
Base period yearsCalendar year ( or tax year beginning in ) Adjusted uald(b distributionsq yn9 Net value of nonhantable use assets
Distribution ratio( col (b) divided by col (c))
2006 80 , 673. 1 , 570 , 373. 0.051372
2005 66 , 950. 1 , 369 , 787. 0.048876
2004 51 , 000. 1 , 166 , 147. 0.043734
2003 50 , 500. 1 , 014 , 008 . 0.049802
2002 44 , 500. 873 773. 0.050929
2 Total of line 1, column (d) 2 0.244713
3 Average distribution ratio for the 5-year base period - divide the total on line 2 by 5, o
the number of years the foundation has been in existence if less than 5 years . . . .
r by
. . . . 3 0.048943
4 Enter the net value of noncharitable - use assets for 2007 from Part X, line 5 4 1 , 620 , 286.
,Enter 1 % of net investment income (1% of Part I, line 27b)
, , ,
, ,
, , , , ,
, , , , , 6 304.
7
, , , , , , , , , ,
Add lines 5 and 6
,
7 79 , 606.
8 Enter qualifying distributions from Part XII, line 4 , . , . , , , , , , , , , , , 8 71 , 100.If line 8 is equal to or g reater than line 7, check the box in Part VI, line 1 b, and complete that part using a 1% tax rate See the Part VI inst ructions on page 18
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Form 990-PF (2007)
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Form 990 -PF (2007 ) 13-3603615 Page4
JAMM Excise Tax Based on Investment Income ( Section 4940 ( a), 4940 ( b), 4940 ( e), or 4948 - see page 18 of the instructions)
1 a Exempt operating foundations described in section 4940( d)(2), check here ► and enter "N/A" on line 1 . . .
Date of ruling letter - _ - - - - - _ _ (attach copy of ruling letter if necessary - see Instructions)
b Domestic foundations that meet the section 4940(e) requirements in Part V, check 1 607.
here ► q and enter 1 % of Part I, line 27b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
C All other domestic foundations enter 2% of line 27b Exempt foreign organizations enter 4% of Part I, line 12, col (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only Others enter - 0-) , . 2
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? . . . . . . . Yes X No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? . . . . . . . Yes X No
(5) Transfer any income or assets to a disqualified person (or make any of either available for
the benefit or use of a disqualified person)? . . . . . . . . . . . . . . . . . . . . . . . . . . . q Yes q No
(6) Agree to pay money or property to a government official? (Exception . Check "No" if
the foundation agreed to make a grant to or to employ the official for a period after
termination of government service, if terminating within 90 days ) . . . . . . . . . . . . . . . . q Yes q No
b If any answer is "Yes" to la(1)-(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53 4941 (d)-3 or in a current notice regarding disaster assistance (see page 22 of the instructions)? . . . ... . . 1 b N/A
Organizations relying on a current notice regarding disaster assistance check here . . . . . . . . . . . . . ►c Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts, that
were not corrected before the first day of the tax year beginning in 2007" . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 c X
2 Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 49420)(3) or 4942(j)(5))
a At the end of tax year 2007, did the foundation have any undistributed income (lines 6d and
1:16e, Part XIII) for tax year(s) beginning before 2007" . . . . . . . . . . . . . . . . . . . . . . . Yes qX No
If "Yes," list the years ► _____-___- ,_
b Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year's undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement - see page 22 of the instructions) . . . . . . . . . . . . . . . . . . . . 2b N / A
c If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here
3a Did the foundation hold more than a 2% direct or indirect interest in any business
enterprise at any time during the year? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . q Yes q No
b If "Yes," did it have excess business holdings in 2007 as a result of (1) any purchase by the foundation or
disqualified persons after May 26, 1969, (2) the lapse of the 5-year period (or longer period approved by the
Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest, or (3) the lapse
of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine if the
foundation had excess business holdings in 2007) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3b N
4a Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes? . . . . 4a
b Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitablepurpose that had not been removed from jeopardy before the first day of the tax year beginning in 2007? . . . . . . . . . . . 4 b X
Form 990-PF (2007)
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Form 990-PF Page 6
Statements Reg arding Activities for Which Form 4720 May Be Req uired (continued)
5a During the year did the foundation pay or incur any amount toq Y? Nqes(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e)) . . . . . . oX
(2) Influence the outcome of any specific public election (see section 4955), or to carry on,
directly or indirectly, any voter registration drives Yes X No
(3) Provide a grant to an individual for travel, study, or other similar purposes? . . . . . . . , , , , Yes X No
(4) Provide a grant to an organization other than a charitable, etc , organization described in
q Y? q Nes(see page 22 of the instructions) , , , , , ,section 509(a)(1), (2), or (3), or section 4940(d)(2) o
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? , , , , , , . . . . q Yes No
b If any answer is "Yes" to 5a(1)-(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53 4945 or in a current notice regarding disaster assistance (see page 22 of the instructions)? . . . 5b N
Organizations relying on a current notice regarding disaster assistance check here . . . . . . . . . . . . . . .
c If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the tax
N/A q Yes? q No. . . . . . . . . . . . . . .because it maintained expenditure responsibility for the grant
If "Yes," attach the statement required by Regulations section 53 4945-5(d)
6 a Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums
El Y X Nqeson a personal benefit contract? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . o
b during the year, pay premiums, directly or indirectly, on a personal benefit contract?Did the foundation X
7a
, , , ,,
you answered "Yes" to 6b, also file Form 8870If
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? , , Yes
, , , , . , , .
No
.-
b If yes, did the foundation receive an proceeds or have an net Income attributable to the transactions N A
information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,and Contractors
1 List all officers. directors. trustees. foundation managers and their compensation (see oaae 23 of the instructions).
f l7i.W_:1 Summary of Proaram -Related Investments (see nacre 24 of the instructions)Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2 Amount
Total . Add lines 1 throug h 3 . . ►Form 990-PF (2007)
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Form 990-PF(2007) 13-3603615 Page8
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see page 24 of the instructions )
1 Fair market value of assets not used (or held for use) directly in carrying out charitable, etc ,
purposes
a Average monthly fair market value of securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . la 1 , 216 , 350.b Average of monthly cash balances lb 428 610.c Fair market value of all other assets (see page 25 of the instructions) . . . . . . . . . . . . . . . . . . . Ic NONEd Total (add lines 1a, b, and c) , , , , , , , . . , . Id 1 649 960.e Reduction claimed for blockage or other factors reported on lines la and
1c (attach detailed explanation) , . . . . . . . le2 Acquisition indebtedness applicable to line 1 assets ............................ 2 NONE3 Subtract line 2 from line 1d .........................................
.
3 1 , 644 , 960.4 Cash deemed held for charitable activities Enter 1 1 /2 % of line 3 (for greater amount, see page 25
of the instructions) ..... ... .. ... ... ... .. ... ................. 4 24 674 .5 Net value of noncharitable - use assets . Subtract line 4 from line 3 Enter here and on Part V, line 4 5 1 , 620 , 286.6 Minimum investment return . Enter 5% of line 5 6 81 , 014.
Distributable Amount (see page 25 of the instructions) (Section 49420)(3) and 0)(5) private operatingfoundations and certain foreign organizations check here ► and do not complete this part )
1 Minimum investment return from Part X, line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 81 , 014.2a Tax on investment income for 2007 from Part VI, line 5 2a 607.b Income tax for 2007 (This does not include the tax from Part VI) . 2b
c Add lines 2a and 2b 2c 607.
3 Distributable amount before adjustments Subtract line 2c from line 1 , , , , , , , , , , , , , , , , , , 3 80 , 407.4 Recoveries of amounts treated as qualifying distributions , , , , , , , , , , , , , , , , , , , , , , 4
5 Add lines 3 and 4 5 80 , 407.
6 Deduction from distributable amount (see page 25 of the instructions) . , . , 67 Distributable amount as adjusted Subtract line 6 from line 5 Enter here and on Part XIII,
line 1 7 80 , 407.
Qualifying Distributions (see page 26 of the instructions)
I Amounts paid (including administrative expenses) to accomplish charitable, etc, purposes
a Expenses, contributions, gifts, etc - total from Part I, column (d), line 26 . . . . . . . . . . . . . . . . . Ia 71 , 100.b Program-related investments - total from Part IX-B lb NONE.... .........
2 Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc ,
purposes
.
2 NONE.. ... ........ ... ....3 Amounts set aside for specific charitable projects that satisfy the
3b NONE4 Qualifying distributions . Add lines 1 a through 3b Enter here and on Part V, line 8, and Part XIII, line 4 , , , , , , 4 71 , 100.
5 Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment income
, , , , , , , , ,Enter 1% of Part I, line 27b (see page 26 of the instructions) , , , 5 N /A, , , , , , , , , ,
6 Adjusted qualifying distributions . Subtract line 5 from line 4 6 71 , 100.
Note : The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whequalifies for the section 4940(e) reduction of tax in those years
ther the foundation
Form 990 -PF (2007)
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Form 990-PF (2007) 13-3603615 Page 9
Undistributed Income (see page 26 of the instructions)
(a) (b) (c) (d)
1 Distributable amount for 2007 from Part XI, Corpus Years prior to 2006 2006 2007
2 Undistributed income, if any, as of the end of 2006
a Enter amount for 2006 only , . . . . . . . . .
b Total for prior years
3 Excess distributions carryover, if any, to 2007
a From 2002 951.
b From 2003 NON
c From 2004 NON
d From2005 589.
e From 2006 3 , 808.
f Total of lines 3a through e . . . . . . . . . . 5 , 348.
4 Qualifying distributions for 2007 from Part XII,
line4 ► $ 71,100.a Applied to 2006, but not more than line 2a
b Applied to undistributed income of prior years (Election
required - see page 27 of the instructions) . . . . . .
c Treated as distributions out of corpus (Electionrequired - see page 27 of the instructions) , , , ,
d Applied to 2007 distributable amount 71 , 100.. . . .
e Remaining amount distributed out of corpus , ,
5 Excess distributions carryover applied to 2007 , 5 , 348. 5 , 348.(If an amount appears in column (d), the sameamount must be shown in column (a) )
6 Enter the net total of each column asindicated below:
a Corpus Add lines 3f, 4c, and 4e Subtract line 5
b Prior years' undistributed income Subtractline 4b from line 2b
c Enter the amount of prior years' undistributedincome for which a notice of deficiency has beenissued, or on which the section 4942(a) tax hasbeen previously assessed . . . . . . . . . ... .
d Subtract line 6c from line 6b Taxableamount - see page 27 of the instructions ,
e Undistributed income for 2006 Subtract line4a from line 2a Taxable amount - see page27 of the instructions . . . . . . . . . . . . .
f Undistributed income for 2007 Subtract lines4d and 5 from line 1 This amount must bedistributed in 2008, 3 , 959.
7 Amounts treated as distributions out of corpusto satisfy requirements imposed by section170(b)(1)(F) or 4942(g)(3) (see page 27 of theinstructions) . . . . . . .
8 Excess distributions carryover from 2002 notapplied on line 5 or line 7 (see page 27 of theinstructions) . . . . . . . . . . . . . .. . . .
9 Excess distributions carryover to 2008.
Subtract lines 7 and 8 from line 6a
10 Analysis of line 9
a Excess from 2003 . , ,
b Excess from 2004 . , ,
c Excess from 2005 . , ,
d Excess from 2006 . , ,e Excess from 2007 .
Form 990-PF (2007)
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Form 990 - PF (2007 ) 13-3603615 Page 10
T75,%V Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9) NOT APPLICABLE
I a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2007, enter the date of the ruling , . . . . . . . . . . . ►b Check box to indicate whether the foundation is a private operating foundation described in section 49420)(3) or 49420)(5)
2 a Enter the lesser of the addusted net income from PartIor the minimum investment
return from Part X for each
year listed . . . . . . .
b 85% of line 2a . . . . .
C Qualifying distributions from Part
XII, line 4 for each year listed ,
d Amounts included in line 2c not
used directly for active conduct
of exempt activities . . . . .
e Qualifying distributions made
directly for active conduct of
exempt activities Subtract line
2d from line 2c
3 Complete 3e, b, or c for the
alternative test relied upon
a "Assets" alternative test - enter
(1) Value of all assets . . .
(2) Value of assets qualifying
under section
4942(I)(3)(B)(i) . . . . .b "Endowment" alternative test-
(2) Support from generalpublic and 5 or moreexempt organizations asprovided in section 4942
6)(3)(B)() . . . . . .(3) Largest amount of sup-
port from an exemptorganization , , , , ,
Tax year Prior 3 years(e) Total
(a) 2007 (b) 2006 (c) 2005 (d) 2004
(4) Gross investment income ,
JiMM Supplementary Information (Complete this part only if the foundation had $5,000 or more in assets at anytime during the year - see page 28 of the instructions.)
1 Information Regarding Foundation Managers:
a List any managers of the foundation who have contributed more than 2% of the total contributions received by the foundationbefore the close of any tax year (but only if they have contributed more than $5,000) (See section 507(d)(2) )
N/A
b List any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest
N/A
2 Information Regarding Contribution , Grant , Gift, Loan, Scholarship , etc., Programs:
Check here ► q if the foundation only makes contributions to preselected charitable organizations and does not acceptunsolicited requests for funds If the foundation makes gifts, grants, etc (see page 28 of the instructions) to individuals ororganizations under other conditions, complete items 2a, b, c, and d
a The name, address, and telephone number of the person to whom applications should be addressed
b The form in which applications should be submitted and information and materials they should include
c Any submission deadlines
N/A
d Any restrictions or limitations on awards , such as by geographical areas , charitable fields , kinds of institutions , or otherfactors
N/A
7Eiasoz 000 Form 990-PF (2007)
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Form 990-PF (2007) 13-3603615 Page 1 1
FUTIFTY- Supplernentary Information (continued)3 Grants and Contributions Paid During the Year or Approved for Future Payment
Reci p ientPIf recipient is an individual ,show any relationsh i p to
Foundationf
Purpose of grant or AmountName and address (home or business) any foundation manager
or substantial contributor
status orecipient
contribution
a Paid during the year
SEE STATEMENT 8
Total ► 3a................................................. 71 100.
b Approved for future payment
Total ► 3b
Form 990-PF (2007)
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Form 990 - PF (2007 ) 13-3603615 Page 12
OREM Analysis of Income-Producing Activities
Enter g
1 Pro
a
b
c
d
e
9
2 Me
3 Inter
4 Dlvl
5 Net
a
b
6 Net
7 Oth
8 Gain
9 Net
10 Gro
11 Oth
b
c
d
e
12 Sub
oss amounts unless otherwise indicated Unrelated business income Excluded b section 512, 513, or 514 (e)Related or exem t
gram service revenue
(a)Business code
(b)Amount
(c)
Exclusion code
(d )Amount
function income(See page 28 ofhe instructions
Fees and contracts from government agencies
mbership dues and assessments . . . . .
est on savings and temporary cash investments 14 2 , 409.
dends and interest from securities , . . . 14 42 , 731.
rental income or (loss) from real estate
Debt-financed property , . . . . , . . .
Not debt-financed property , . , . . . .
rental income or (loss) from personal property ,
er investment income . . . . . .
or (loss ) from sales of assets other than inventory 18 -65 , 610.
income or (loss) from special events . . .
ss profit or (loss) from sales of inventory.
errevenue a
total Add columns (b), (d), and (e) . . -20 , 470.
(See worksheet in line 13 instructions on page 29 to verify calculations )
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No. Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to. the accomplishment of the foundation's exempt purposes (other than by providing funds for such purposes) (See
page 29 of the instructions )
JSAForm 990 -PF (2007)
7E1492 2 000
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Form 990 -PF 2007 13-3603615 Page 13
Information Regarding Transfers To and Transactions and Relationships With Noncharitable
Exempt Organizations
Did the organization directly or indirectly engage in any of the following with any other organization described in section Yes No
501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
a Transfers from the reporting foundation to a nonchantable exempt organization of
(1) Cash ..........................................................1a1 X
(6) Performance of services or membership or fundraising solicitations . . . . . . . . . . . . . . . . . . . . . . . . . . . lb 6 X
c Sharing of facilities, equipment, mailing lists, other assets, or paid employees . . . . . . . . . . . . . . . . . . . . . . . . 1 c X
d If the answer to any of the above is "Yes," complete the following schedule Column (b) should always show the fair market value of the goods,
other assets, or services giver, by the reporting foundation If the foundation received less than fair market value in any transaction or sharing
arrangement, show in column (d) the value of the goods, other assets, or services received
(a) Name of organization (b) Type of organization (c) Description of relationship
Under penalties of perjury, I declare that I have amined this return , including accompanying schedules nd statements , and to the best of my knowledge and
belief, it is true , corr t, and com to Decla n of preparer ( other than to yer or fiduci ary) isased n all information ofythich pr^arer has any knowledge
C e401
Signature of office r c ste
pt Preparer's pA-y 0 signature
CL d y Firm's name (or yours if O'KEEFE & MORET, CE'a self-employed), address , 55 MAPLE AVE., SUIZ
and ZIP code ROCKVILLE CENTRE
JSA
7E1493 2 000
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2 a Is the foundation directly or indirectly affiliated with , or related to, one or more tax-exempt organizations described in
section 501 ( c) of the Code (other than section 501 (c)( 3)) or in section 5277 . . . . . . . . . . . . . . . . . . . . . . . . . q Yes Eil No
h If "Vae " rmmnlnt tha fnllrnumn ccharfhilp
FORM 990-PF - PART IVCAPITAL GAINS AND LOSSES FOR TAX ON INVESTMENT INCOME
Kind of Property DescriptionP
Dateacquired
Date sold
Gross sale Depreciation Cost or FMV Add basis Excess of Gainprice less allowed/ other as of as of FMV over or
expenses of sale allowable ad i basis (loss )
SEE ATTACHED SCHEDULE
820,208. 898 ,974. -78,766.
SEE ATTACHED SCHEDULE
338,657. 325,501. 13,156.
TOTAL GAIN(LOSS) ....... ......................................... -65,610.
JSA7E1730 1 000
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DESCRIPTION
SHORT-TERM GAINS ( LOSSES)
ALLEGHENY TECH INC
APPLE INC
BARCLAYS BANK PLC
BARCLAYS BANK PLC IPATH DOW JONES AID AGRICULTURE
BOEING CORP
CHESAPEAKE ENERGY
CLAYMORE EXCHANGE SAP GLOBAL WATER
CLAYMORE EXCHANGE SAP GLOBAL WATER
COMPANH[A VA! E DO
GENERAL ELECTRIC
(SHARES INC MSCI MAI AYSIA FREE INDEX FND
(SHARES INC MSCI SINGAPORE INDEX FND
(SHARES TR FTSE XINHUA CHINA 25
(SHARES TR LEHMAN INTER CR BD FD
MARKET VECTORS TR AGRIBUSINESS
PCTROLEO BRASILEIRO
POWERSHARES DB US
POWERSHARES EXG TRADED AEROSPACF & DEF PORT
POWERSHARES EXG TRADED INTL DIV 0) ACHIEVFRS PORT
POWERSHARF.S EXG TRADED INTL DIVED ACHIEVERS PORT
RYDEX ETF TR
RYDEX ETF TR
SPDR INDEX SHS FOS SHS FND DJ STOXX 50 ETF
SPDR INDEX SHS FDS SHS FND DJ STOXX 50 EFF
SPECTOR SPDR TR SHS BEN TNT INDUST
UNITED HEALTH GROUP
US BANCORP
US TREASURY 10/23/2008
VANGUARD SFC(ORINDEX FDS VANGUARD INFORMATION TECH
TOTAL SHORT-TERM LOSS
THE NEIL AND JANE FREEMAN FOUNDATIONSCHEDULE OF CAPITAL GAINS AND (LOSSES)
NOVEMBER 30, 2008P
PROPERTY OR PURCHASE SALE
TYPE D DATE DATE SHS
SECURITIES P 10/31107 01W00)8 300
SFCURITIES P 02.)80)8 080)8008 150
SECURITIES P 0927,07 032098 200
SECURITIES P 020)80)8 0324618 656
SECURITIES P 10010)7 08580)8 300
SECURITIES P 070)20)8 11/17,08 600
SECURITIES P 0724/07 12/240)7 560
SECURITIES P 07/31/07 12/240)7 540
SFCURITIES P 10/310)7 0320008 850
SECURITIES P 04/16108 07,070)8 1 100
SECURITIES P 09270)7 03/13,08 500
SECURITIES P 09270)7 100)10)0 1 500
SECURITIES P 04/110)8 09/16008 136
SECURITIES P 04/110)8 09250)8 764
SFCURTTIFS P 10/3 M7 09/240)8 800
SECURITIES P 02/130)8 09/100)8 300
SFCURTTIES P 050)50)8 07/160)8 1500
SFCURRIES P 01/19007 12240)7 2000
SECURITIES P 01/19,07 12/17,07 900
SECURITIES P 020)10)7 12/18007 1,100
SFCURITIES P 03/190)7 12/100)7 200
SECURITIES P 03270)7 121100)7 500
SECURITIES P 09/270)7 01/18,08 200
SECURITIES P 05/180)7 012308 700
SECURITIES P 09/240)7 05/1608 1147
SECURITIES P 11/16007 0225,08 650
SECURITIES P 04/1 INS 11/180)8 800
SECURITIES P 0724,08 1023,0)8 130,000
SECURITIES P 0127007 02/250)8 200
PROCEEDS
ON SALES
1364608
23 980 69
12,584 34
40565 40
19.5-4870
12,523 78
1384444
13 35000
27 271 43
29 401 40
525560
1666937
1494597
71 709 14
3576715
25 981 41
1118726
4490191
19,009 23
21 082 75
964491
24 112 28
10 084 62
34,357 51
52 629 41
11,016 26
20,724 76
13000000
1021105
820,207 85
COST OF
SALES
30 599 70
19 458 11
10 71968
41 101 14
28 854 84
27,675 18
1461840
1408580
3030590
3541593
5,932 95
21 716 30
19,949 17
7794297
39850%
34 258 41
34 104 45
38,10800
1649690
2060000
9 479 33
24 511 00
10 655 28
36 808 75
5496991
34,338 85
26,265 28
12950051
10 62800
198 ,973 70
GAIN
(1695362)
4 522 58
1,864 66
(535 74)
(9306 14)
(1515140)
(773%)
(73580)
(3,034 47)
(601451)
(677 35)
(5046 93)
(5 003 20)
(623491)
(408381)
(827700)
(71719)
679591
2 512 31
2 482 75
163 58
(420 72)
(57066)
(2 45124)
(234030)
(3 322 59)
(5 54052)
499 49
(41695)
(78,76185)
LONG-TERM GAINS (LOSSES)
BARCI AYS BANK PLC SECURITIES P 096/906 0320108 200 1258414 974800 283634
Caution : Organizations that are not covered by the General Rule and/or the Special Rules do not file Schedule B (Form 990,
990-EZ, or 990-PF), but they must check the box in the heading of their Form 990, Form 990-EZ, or on line 2 of their Form
990-PF, to certify that they do not meet the filing requirements of Schedule B (Form 990, 990-EZ, or 990-PF)
For Paperwork Reduction Act Notice, see the Instructionsfor Form 990, Form 990-EZ, and Form 990-PF.
JSA
7E1251 1 000
Schedule B (Form 990, 990-EZ , or 990 -PF) (2007)
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Schedyle 8 (Form 990, 990-EZ , or 990-PF ) (2007) Page of of Part I
Name of organization NEAL & JANE FREEMAN FOUNDATION, INC Employer Identification number
Contributors (See Specific Instructions.)
(a)No.
(b)Name , address, and ZIP + 4
(c)Aggregate contributions
(d)Type of contribution
1 NEAL B & JANE M FREEMAN Person
PO BOX 15909 $ 200,000.Payroll
Noncash
FERNANDINA BEACH, FL 32035(Complete Part II if there isa noncash contribution )
(a)No.
(b)Name , address, and ZIP + 4
(c)Aggregate contributions
(d)Type of contribution
Person
$
Payroll
Noncash
(Complete Part II if there isa noncash contribution
(a)No.
(b)Name , address , and ZIP + 4
(c)Aggregate contributions
(d)Type of contribution
Person
$
Payroll
Noncash
(Complete Part II if there isa noncash contribution )
(a)No.
(b)Name , address, and ZIP + 4
(c)Aggregate contributions
(d)Type of contribution
Person
$
Payroll
Noncash
(Complete Part II if there isa noncash contribution )
(a)No.
(b)Name , address , and ZIP + 4
(c)Aggregate contributions
(d)Type of contribution
Person
$
Payroll
Noncash
(Complete Part II if there isa noncash contribution
(a)No.
(b)Name , address , and ZIP + 4
(c)Aggregate contributions
(d)Type of contribution
Person
$
Payroll
Noncash
(Complete Part II if there isa noncash contribution
JSA Schedule 6 (Form eau, aau-tA or eau- rr) vuvrl
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NEAL & JANE FREEMAN FOUNDATION, INC 13-3603615
FORM 990PF, PART I - INTEREST ON TEMPORARY CASH INVESTMENTS----------------------------------------------------------------------------------------------------------------------
FORM 990PF, PART I - DIVIDENDS AND INTEREST FROM SECURITIES----------------------------------------------------------------------------------------------------------------------
12 Net long -term gain or (loss). Combine lines 6a through 11 in column (f) Enter here and on line 14a,
column (3) on the back 13, 156.
For Paperwork Reduction Act Notice, see the Instructions for Form 1041 . Schedule D ( Form 1041) 2007
JSA7F12102000
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OMB No 1545-0092
2@07
Schedule 0 (Form 1041) 2007 Page 2
JjM Summary of Parts I and 11 (1 ) Beneficiaries' (2) Estate'sCaution: Read the instructions before completing this part. (see page 41) or trust's (3) Total
13 Net short -term gain or ( loss) . . . . . . . . . . . . . . . . . . . . . 13 -78 , 766.
14 Net long -term gain or ( loss):
a Total for year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14a 13 , 156.b Unrecaptured section 1250 gain (see line 18 of the wrksht) . . . . 14b
15 Total net gain or (loss). Combine lines 13 and 14a . . . . . . . 01 15 -65 , 610.
Note : If line 15, column (3), is a net gain, enter the gain on Form 1041, line 4 (or Form 990-T, Part 1, line 4a) If lines 14a and 15, column (2), are net gains, goto Part V, and do not complete PartIV if line 15, column (3), is a net loss, complete Part lV and the Capital Loss Carryover Worksheet, as necessary
Caoital Loss Limitation
16 Enter here and enter as a (loss) on Form 1041, line 4 (or Form 990-T, Part I, line 4c, if a trust), the smaller of
a The loss on line 15, column (3) or b $3,000. . 16 3 , 000.Note: If the loss on line 15, column (3), is more than $3,000, or,f Form 1041, page 1, line 22 (or Form 990-T, line 34), is a loss, complete the Capital LossCarryover Worksheet on page 42 of the instructions to figure your capital loss carryover
Tax Computation Using Maximum Capital Gains RatesForm 1041 filers. Complete this part only if both lines 14a and 15 in column (2) are gains, or an amount is entered in Part I or Part II and
there is an entry on Form 1041, line 2b(2), and Form 1041, line 22, is more than zero
Caution: Skip this part and complete the worksheet on page 43 of the instructions if• Either line 14b, col (2) or line 14c, col (2) is more than zero, or• Both Form 1041, line 2b(1), and Form 4952, line 4g are more than zero
Form 990-T trusts. Complete this part only if both lines 14a and 15 are gains, or qualified dividends are included in income in Partof Form 990-T, and Form 990-T, line 34, is more than zero Skip this part and complete the worksheet on page 43 of the instructions if
I
either line 14b, col (2) or line 14c, col (2) is more than zero
17 Enter taxable income from Form 1041, line 22 (or Form 990-T, line 34) . . . i
18 Enter the smaller of line 14a or 15 in column (2)
but not less than zero . . . . . . . . . . . . . 18
19 Enter the estate's or trust's qualified dividends
from Form 1041, line 2b(2) (or enter the qualified
dividends included in income in Part I of Form 990-1). 19
35 Tax on all taxable income . Enter the smaller of line 33 or line 34 here and on line la of
Schedule G , Form 1041 ( or line 36 of Form 990-T) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
JSA7F 1220 3 000
27
31
32
33
34
I351Schedule D (Form 1041) 2007
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SCHEDJLE D-1 Continuation Sheet for Schedule D(Form 1041) (Form 1041)Department of the Treasury ► See instructions for Schedule D (Form 1041).
Internal Revenue Service ► Attach to Schedule D to list additional transactions for lines 1a and 6a.
OM B No 1545-0092
2007Name of estate or trust Employer Identification number
NEAL & JANE FREEMAN FOUNDATION , INC 13-3603615
Short-Term Capital Gains and Losses - Assets Held One Year or Less
(a) Description of property (Example100 sh 7% of "Z" Co1 preferredr)
(b) Dateacquired( mo , a r
(c) Date sold(mo, day, yr)
(d) Sales puce(see page 40 of the
instructions)
(e) Cost or other basis( see page 40 of the
instructions)
(f) Gain or (loss)Subtract (e) from (d)
1a
SEE ATTACHED SCHEDULE 820 208. 898 974. -78 , 766.
1b. Total . Combine the amounts in column (f) Enter here and on Schedule D, line lb . -78,766.For Paperwork Reduction Act Notice , see the Instructions for Form 1041. Schedule D-1 (Form 1041) 2007
JSA7F1221 4 000
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Schedule D-1 (Form 1041) 2007 Page 2
Name of estate or trust as shown on Form 1041 Do not enter name and employer identification number if shown on the other side Employer Identification number
jJ Long-Term Capital Gains and Losses - Assets Held More Than One Year
(a) Description of property ( Example100 sh 7% preferred of "Z" Co)
( b) Dateacquired
( mo , day, r
(c) Date sold(mo, day, yr)
( d) Sales puce(see page 40 of the
instructions )
( e) Cost or other basis(see page 40 of the
instructions)
(f) Gain or (loss)Subtract (e) from (d)
6a
SEE ATTACHED SCHEDULE 338 657. 325 501. 1 3,156.
6b. Total. Combine the amounts in column (f) Enter here and on Schedule D, line 6b . . 13, 156.Schedule D-1 (Form 1041) 2007
JSA7F1222 4 000
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THE NEIL AND JANE FREEMAN FOUNDATION
INVESTMENTS IN CORPORATE STOCKS
NOVEMBER 30, 2008
M
HOLDINGS SHS COST
AIR
MARKET
VALUE
ABBOTT LABORATORIES 300 27,431 60 26,195 00
APPLE INC 115 10,970 46 10,657 05
BANK OF AMERICA 400 9,59496 6,50000
CADBURY PLC 300 16,098 42 10,197 00
CADBURY PLC 300 16,169 79 10,197 00
CADBURY PLC 600 21,986 52 20,394 00
CATERPILLAR INC 400 29,695 60 16,396 00
DIMENSIONAL ADVISOR EMERGING MKTS VALUE 822 15,915 00 14,703 29
DOW CHEMICAL CO 200 5,00496 3,71000
ENTERPRISE PRODUCTS 1,200 23,824 92 25,644 00
HCP INC COM 1,000 25,166 60 20,670 00
IBM 300 34,013 73 24,480 00
INTEL CORP 1,600 32,499 20 22,080 00
ISHARES TR 1-3 YR TREAS INDEX FD 1,570 125,970 52 133,136 00
ISHARES TR 1-3 YR TREAS INDEX FD 600 48,230 00 50,880 00
ISHARES TR S&P GLOBAL HEALTHCARE SECTOR INDEX FND 1,000 50,820 63 41,700 00
KAYNE ANDERSON MLP IN VT CO 1,500 49,391 00 20,055 00