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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
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.
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)Xyj
, , , , , , , , ,
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"cmOC^i
IV
CM
tZ
For Privacy Act and Paperwork Reduction Act Notice , see page 30 of the Instructions . * * STMT 3 Form 990-PF (2007)JSA7E14104000
4C204U E012 04/07/2009 15:32:08 V07-8.7 0102
Form 990-P F : 20071 13-3603615 Pane 2Attached schedules and amounts in the
SBeginning of year End of year
heets description column should be for end-of-yearBalanceamounts only (See instructions ) ( a) Book Value ( b) Book Value (c) Fair Market Value
I Cash - non-interest- bearing . . . . . . . . . . . . . . . . . .
2 Savings and temporary cash investments . . . . . . . . . . 166 828. 292 454. 292 , 454 ,
3 Accounts receivable ► -----------------------Less allowance for doubtful accounts ► -------------
4 Pledges receivable ►------------------------
Less allowance for doubtful accounts ► _ _ _ _ _
5 Grants receivable . . . . . . . . . . . . . . .
6 Receivables due from officers, directors , trustees , and other
disqualified persons ( attach schedule ) ( see page 16 of the instructions)
7 Other notes and loans receivable ( attach schedule) ► _ _ _ _ _
Less allowance for doubtful accounts ►8 Inventories for sale or use
9 Prepaid expenses and deferred charges . . . . . . . . . . . .
Q 10 a Investments - U S and state government obligations (attach schedule)
b Investments - corporate stock ( attach schedule) . STMT .5. , 1 , 243 , 551. 828 , 846. 697 , 359 ,
c Investments - corporate bonds (attach schedule ). STMT ,6, NON 382 043. 375 , 710,11 Investments - land, buildings, ►
and equipment basis __ ________________Less accumulated depreciation ►(attach schedule ) -------------------
12 Investments - mortgage loans . . . . . . . . . . . . . . . .
13 Investments - other (attach schedule) ,, , , , , , , , , , , ,14 Land , buildings, and ►
equipment basis ------------------Less accumulated depreciation ►(attach schedule ) --------------------
15 Other assets (describe ► )--------------------
16 Total assets ( to be completed by all filers - see the
instructions Also, see page 1, item I) , 1 , 410 , 379. 1 , 503 , 343. .1 , 365 , 523
17 Accounts payable and accrued expenses , , , , , , , , , , ,
18 Grants payable
in
,,,,,,,,,,,,,,,,,,,,,,,
19 Deferred revenue . . . . . . . . . . . . . . . . . . . . . .
20 Loans from officers , directors , trustees, and other disqualified persons
a 21 Mortgages and other notes payable (attach schedule) , , , , ,
22 Other liabilities (describe ► )-------------------
23 Total liabilities ( add lines 17 through 22) . .
Foundations that follow SFAS 117 , check here ►and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted . . . . . . . . . . . . . . . . . . . . . . . . .
25 Temporarily restricted
pp
. . . . . . . . . . . . . . . . . . . .
26 Permanently restricted
u.
o
. . . . . . . . . . . . . . . . . . . .
Foundations that do not follow SFAS 117,
check here and complete lines 27 through 31. ►
27 Capital stock , trust principal , or current funds , , ,, , , , , ,
28 Paid - in or capital surplus , or land , bldg , and equipment fund , , , , ,
29 Retained earnings , accumulated income , endowment , or other funds 1 , 410 , 379. 1 , 503 , 343.
Z
30 Total net assets or fund balances ( see page 17 of the
Instructions),,,,,,,,,,,,,,,,,,,,,,,,, 1 , 410 , 379. 1 , 503 , 343.
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
end-of-year figure reported on prior year' s return ) , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 1 1 , 410 , 379.
2 Enter amount from Part I, line 27a 2 92 , 964.
3 Other increases not included in line 2 ( itemize) ► 3-------------------------------------
4 Add lines 1, 2 , and 3 4 1 , 503 , 343 .
5 Decreases not included in line 2 ( 5_ ______
6 Total net assets or fund balances at end of year (line 4 minus line 5) - Part II, column (b) line 30 . 6 1 , 503 , 343.
JSA
7E1420 2 000
Form 990 -PF (2007)
4CI04U E012 04/07/2009 15:32:08 V07-8.7 0102
Form 990-PF ( 2007 ) 1 3 -36 0 5 Page 3
Canital Gains and Losses for Tax on Investment Income
a List and describe the kind(s) of property sold (e real estate,() 9.2-story brick warehouse, or common stock, 200 shs MLC Co )
acquiredPD -
PurchaseoDonation
(c) Dateacquired
(mo , day , )Yr
Jd) Date soldmo, day, yr )
1a SEE PART IV SCHEDULE
b
cd
e
(e) Gross sales price (f) Depreciation allowed(or allowable)
(g) Cost or other basisplus expense of sale
(h) Gain or (loss)(e) plus (f) minus (g)
a
b
c
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.
5 Multiply line 4 by line 3 5 79 , 302.
6
, , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
,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
JSA7E1430 2 000
Form 990-PF (2007)
4CI04U E012 04/07/2009 15:32:08 V07-8.7 0102
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 Add lines 1 and 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 607 .
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only Others enter -0-) , , , 4 NONI
5 Tax based on Investment Income . Subtract line 4 from line 3 If zero or less, enter -0- . . . . . . . . 5 607.
6 Credits/Payments
a 2007 estimated tax payments and 2006 overpayment credited to 2007, , , , 6a NONE
b Exempt foreign organizations-tax withheld at source . . . . . . . . . . . . 6 b NONE
c Tax paid with application for extension of time to file (Form 8868), . , , , , . 6c NONE
d Backup withholding erroneously withheld . . . . . . . . . . . . . . . . . 6d
7 Total credits and payments Add lines 6a through 6d . . . . . . . . . . . . . . . . . . . . . . . . . 7 NONE
8 Enter any penalty for underpayment of estimated tax Check here q if Form 2220 is attached . . . . . . 8 32.
9 Tax due . If the total of lines 5 and 8 is more than line 7, enter amount owed . . . . . . . . . . . . . . . . ► 9 639.
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid , , , , , , , , , , ► 10
11 Enter the amount of line 10 to be Credited to 2008 estimated tax ► Refunded ilp^ 11
Statements Regarding Activities
la did the foundation attempt to influence any national, state, or local legislation or did itDuring the tax year Yes No,
. . . . . . . . . . . .participate or intervene in any political campaign? . 1 a X. . . . . . . . . . . . . . . . . . . . . . . .
b Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19
. . . . . . . . . . . . . . . .of the instructions for definition)? 1 b X. . . . . . . . . . . . . . . . . . . . . . . . . . . .
If the answer is "Yes" to 1a or 1b, attach a detailed descnption of the activities and copies of any materials
published or distributed by the foundation in connection with the activities
c Did the foundation file Form 1120-POL for this year? 1 c X, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
d Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year
(1) On the foundation (2) On foundation managers ► $
e Enter the reimbursement (if any) paid by the organization during the year for political expenditure tax imposed on
foundation managers ► $
2 Has the foundation engaged in any activities that have not previously been reported to the IRS? 2 X, , , , , , , , , , ,
If "Yes," attach a detailed descnption of the activities
3 Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of
" attach a conformed copy of the changesor bylaws or other similar instruments? If "Yesincorporation 3 X, , . . . . . . . . ,,, ,
4a 000 or more during the year?Did the foundation have unrelated business gross income of $1 4a X. . . . . . . . . . . . . . . .,
b " has it filed a tax return on Form 990-T for this year?If "Yes 4b N /A, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,,
5 or substantial contraction during the year?termination dissolutionWas there a liquidation 5 X, , , , , , , , , , , , , , , , ,,, ,
If "Yes,"attach the statement required by General Instruction T
6 Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either
• By language in the governing instrument, or
• By state legislation that effectively amends the governing instrument so that no mandatory directions that
. . . . .conflict with the state law remain in the governing instrument? 6 X. . . . . . . . . . . . . . . . . . . . . . . . . .
7 and PartXV"complete Part ll col (c)000 in assets at any time during the year? If "YesDid the foundation have at least $5 7 X, ,,, ,
8a Enter the states to which the foundation reports or with which it is registered (see page 19 of the
instructions) ► NY, _ _ _ _ _--------------------------------------------------------- --
b If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney General
. . . . . ." attach explanation(or designate) of each state as required by General Instruction G9 If "No 8 b X. . . . . . . . . . .,
9 Is the foundation claiming status as a private operating foundation within the meaning of section 49420)(3)
or 49420)(5) for calendar year 2007 or the taxable year beginning in 2007 (see instructions for Part XIV)? If
" complete Part XIV . . . . . . . . . . . ."Yes . . . . 9, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10 Did any persons become substantial contributors during the tax yeah If "Yes," attach a schedule listing their
names and addresses 10 X
Form 990-PF (2007)
JSA
7E 1440 2 000
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Form 990-PF (2007) 5
Statements Regarding Activities (continued)
11a At any time during the year , did the foundation , directly or indirectly , own a controlled entity within the
meaning of section 512 (b)(13)" I f "Yes," attach schedule (see page 20 of the instructions) . . . . . . . . . . . . . . . . . . 11 a X
b If "Yes ," did the foundation have a binding written contract in effect on August 17, 2006, covering the interest,
rents , royalties , and annuities described in the attachment for line 11 a? . . . . . . . . . . . . . . . . . . . . . . . . . . . 111b X
12 Did the foundation acquire a direct or indirect interest in any applicable insurance contract? . . . . . . . . . . . . . . . . . 12 X
13 Did the foundation comply with the public inspection requirements for its annual returns and exemption application? 13 X
Website address -------------------------------------------------------------------14 The books are in care of Telephone no
Located at AS TAX ADDRESS _ -- ZIP+4 lo- _32035 ______
15 Section 4947 ( a)(1) nonexempt charitable trusts filing Form 990-F in lieu of Form 1041 Check here . . . . . . . . . . N/A . . .
and enter the amount of tax- exempt interest received or accrued during the year . ► 15
- . r Statements Regardinq Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies. Yes No
1a During the year did the foundation (either directly or indirectly)
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? . . . . . . . . q Yes q No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a
disqualified person? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes X No
(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)
JSA7E1450 2 000
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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).
(a) Name and addressrsa
average( b)houT
it le.P er week
devoted to ositionpaid,( Inotpai d enter-0 -
employeettfitCon t ribu t ion s
benefit plansand deferred com pensation
(e) Expense account,other allowances
-------------------------------------SEE STATEMENT 7 NONE NONE NONI
-------------------------------------
-------------------------------------
-------------------------------------
2 Compensation of five hiahest-oaid emolovees ( other than those included on line 1 - see aaae 23 of the instructions). If none,enter "NONE-"
(a) Name and address of each employee paid more than $50,000Title, and avers
(b)hours
averagePer week
devoted to position(c) Compensation
(d) Contributions toemployee benefitplans and deferredcom pensation
(e) Expense account,other allowances
NONE-------------------------------------
-------------------------------------
-------------------------------------
-------------------------------------
-------------------------------------
Total number of other employees paid over $50,000 . ► I NONEForm 990-PF (2007)
JSA7E1460 2 000
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Form 990-PF (2007) 13-3603615 Page 7
Information About Officers, Directors, Trustees, Foundation Managers , Highly Paid Employees,and Contractors (continued)
3 Five hi g hest-paid independent contractors for p rofessional services ( see pa ge 23 of the instructions ) . If none , enter "NONE."
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE---------------------------------------------------------
Total number of others receiving over $50,000 for professional services . . ► NONE
Summary of Direct Charitable Activities
List the foundation ' s four largest direct charitable activities during the tax year Include relevant statistical information such as the number
of organizations and other beneficiaries served , conferences convened , research papers produced, etcEVenses
I -NOT-APPLICABLE-------------------------------------------------------------------------
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2---------------------------------------------------------------------------
---------------------------------------------------------------------------
3---------------------------------------------------------------------------
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4
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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
1-NOT-APPLICABLE------------------------------------------------------------------------
---------------------------------------------------------------------------
2---------------------------------------------------------------------------
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All other program - related investments See page 24 of the instructions
3-NOT-APPLICABLE-----------------------------------------------------------
---------------------------------------------------------------------------
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
a Suitability test (prior IRS approval required) . . . . . . . . . . . . . . 3a NONEb Cash distribution test (attach the required schedule) , , , , , , , , , , , , , , , , , , , , , , , , , , ,
.
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
, , , ,line 7 80 , 407., , , , , , , , , , , , , , , , ,
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-
enter 2/3 of minimum invest-
ment return shown in Part X,
line 6 for each year listed
C "Support" alternative test - enter
(1) Total support other then
gross investment income
(interest, dividends, rents,payments on securitiesloans (section 512(a)(5)),or royalties) . . , .
(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.
r
n
13 Total. Add line 12, columns (b), (d), and (e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 -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 )
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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
(2) Other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . la ( 2 ) X
b Other transactions
( 1 ) Sales of assets to a noncharltable exempt organization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 b 1 X
(2) Purchases of assets from a nonchantable exempt organization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 b 2 X
(3) Rental of facilities, equipment, or other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b ( 3 ) X
(4) Reimbursement arrangements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b 4 X
(5) Loans or loan guarantees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b 5 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
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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.
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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
CUMMINGS INC SECURITIES P 10/310)7 11 /17/08 250 1007714 2883123 ( 1875389)
ISHARES INC MSC( AUSTRALIA INDEX FND SFCURH'IFS P 07/ 1105 080)80)8 1200 28 683 67 20 346 28 8 137 39
ISHARES INC MSCI CANADA INDEX FND SECURITIES P 07/1205 08200)8 467 1153858 862949 490909
ISIIARFS INC MSCI MAI AYSIA FREE INDEX FND SECURITIES P 0NJ 1105 03 /130)8 2 500 26 277 95 18 376 50 7901 45
(SHARES INC MSCI SINGAPORE INDEX FND SECURITIES P 07/12j%)5 100)1018 500 496)82 3 727 10 1 238 52
(SHARES INC MSCI SINGAPORE INDEX FND SECURITIES P 0922.)5 10,01008 500 4 965 82 194900 1 017 82
(SHARES TR 1.3 YR TREAS INDEX FD SECURITIES P 09,06006 04 /110)8 930 77 775 74 74 619 48 3 156 26
(SHARES SP GSTI SEMICONDUCTOR INDEX FND SECURITIES P 07/13005 121200)7 550 12 ,619 12 31 343 98 1 275 14
(SHARES TR MSCI EAFE INDEX FD SECURITIES P 096/56/6 03605608 500 36,03000 33 87965 2,150 35
(SHARES TR SAP GLOBAL HEALTFICARE SECTOR INDEX FND SECURITIES P 07/150)5 05/ 160)8 500 26 393 65 25 410 32 98313
POWERSHARES EXG TRADED DYNAMIC OIL SECURITIES P 09,)50)6 11/110)0 200 2 416 52 3901 96 (1,48544)
POWERSHARESEXG TRADED DYNAMIC ENERGY EXPLOR SECURITIES P 090)566/6 11/17MS 200 272536 180374 ( 107818)
SPDR GOLDTR SECURITIES P 096/586 05/160)8 100 854762 614133 240629
VANGUARD SECIORINDEX FOS VANGUARD INFORMATION TECH SECURITIES P 02JDIJ07 02/250)8 1 000 51,055 27 52 793 50 ( 1738 23)
TOTAL LONG-TERM GAIN 7 78,65680 72550076 13,1 5604
NET CAPITAL LOSS 1,1380)6465 1, 24.474 J6 (65,60911)
Schedule B Schedule of Contributors(Form 990 , 990-EZ,or 990 -PF) Supplementary Information forDepartment of the Treasury
line I of Form 990, 990 -EZ, and 990 -PF (see instructions)Internal Revenue Service
OMB No 1545-0047
2007Name of organization
NEAL & JANE FREEMAN FOUNDATION, INC
Organization type (check one)
Filers of:
Form 990 or 990-EZ
Form 990-PF
Section:
Employer identification number
q 501(c )( ) ( enter number) organization
q 4947( a)(1) nonexempt charitable trust not treated as a private foundation
q 527 political organization
501(c)( 3) exempt private foundation
q 4947( a)(1) nonexempt charitable trust treated as a private foundation
q 501(c)( 3) taxable private foundation
Check if your organization is covered by the General Rule or a Special Rule. (Note: Only a section 501(c)(7), (8), or (10)
organization can check boxes for both the General Rule and a Special Rule - see instructions)
General Rule -
For organizations filing Form 990, 990-EZ, or 990-PF that received, during the year, $5,000 or more (in money or
property) from any one contributor (Complete Parts I and II )
Special Rules -
q For a section 501 (c)(3) organization filing Form 990, or Form 990-EZ, that met the 331/3 % support test of the regulations
under sections 509(a)(1)/170(b)(1)(A)(vl), and received from any one contributor, during the year, a contribution of the
greater of $5,000 or 2% of the amount on line 1 of these forms (Complete Parts I and II )
q For a section 501(c)(7), (8), or (10) organization filing Form 990, or Form 990-EZ, that received from any one contributor,
during the year, aggregate contributions or bequests of more than $1,000 for use exclusively for religious, charitable,
scientific, literary, or educational purposes, or the prevention of cruelty to children or animals (Complete Parts I, II, and III )
q For a section 501(c)(7), (8), or (10) organization filing Form 990, or Form 990-EZ, that received from any one contributor,
during the year, some contributions for use exclusively for religious, charitable, etc , purposes, but these contributions did
not aggregate to more than $1,000 (If this box is checked, enter here the total contributions that were received during
the year for an exclusively religious, charitable, etc , purpose Do not complete any of the Parts unless the General Rule
applies to this organization because it received nonexclusively religious, charitable, etc , contributions of $5,000 or more
during the year) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . No- $
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
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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
7E1253 1 000
4CI04U E012 04/07/2009 15:32:08 V07-8.7 0102
NEAL & JANE FREEMAN FOUNDATION, INC 13-3603615
FORM 990PF, PART I - INTEREST ON TEMPORARY CASH INVESTMENTS----------------------------------------------------------------------------------------------------------------------
DESCRIPTION
PNC BANK
NORTH AMERICAN MGMT CORP
TOTAL
REVENUE
AND
EXPENSES
PER BOOKS
40.2,369.
--------------2,409.
----------------------------
NET
INVESTMENT
INCOME
40.2,369.
--------------2,409.
----------------------------
4CI04U E012 04/07/2009 15:32:08 V07-8.7 0102 STATEMENT 1
NEAL & JANE FREEMAN FOUNDATION, INC 13-3603615
FORM 990PF, PART I - DIVIDENDS AND INTEREST FROM SECURITIES----------------------------------------------------------------------------------------------------------------------
DESCRIPTION
NORTH AMERICAN MGMT CORP
DREYFUS WORLDWIDE MM FUND
TOTAL
REVENUE
AND
EXPENSESPER BOOKS
33,887.8,844.
--------------42,731.
----------------------------
NETINVESTMENT
INCOME
33,887.8,844.
--------------
42,731.
4CI04U E012 04/07/2009 15:32:08 V07-8.7 0102 STATEMENT 2
INEAL & JANE FREEMAN FOUNDATION, INC
FORM 990PF, PART I - TAXES----------------------------------------------------
DESCRIPTION
EXCISE TAX - INVESTMENT INCOME
TOTALS
REVENUE
ANDEXPENSES
PER BOOKS
699.--------------
699.----------------------------
13-3603615
STATEMENT 3
4CI04U E012 04/07/2009 15:32:08 V07-8.7 0102
NEAL & JANE FREEMAN FOUNDATION, INC
FORM 990PF, PART I - OTHER EXPENSES
DESCRIPTION
BROKER FEESINSURANCEDUESFILING FEES
TOTALS
REVENUEAND
EXPENSES
PER BOOKS
13,245.
777.495.250.
--------------
14, 767.--------------
13-3603615
NETINVESTMENT
INCOME
13,245.777.495.250.
--------------
14,767.--------------
4CI04U E012 04/07/2009 15:32:08 V07-8.7 0102 STATEMENT 4
NEAL & JANE FREEMAN FOUNDATION, INC
FORM 990PF, PART II - CORPORATE STOCK--------------------------------------------------------------------------
DESCRIPTION
SEE ATTACHED SCHEDULE
TOTALS
13-3603615
ENDING
BOOK VALUE
828,846.---------------
828,846.
ENDINGFMV
697,359.---------------
697,359.------------------------------
4CI04U E012 04/07/2009 15:32:08 V07-8.7 0102 STATEMENT 5
NEAL & JANE FREEMAN FOUNDATION, INC
FORM 990PF, PART II - CORPORATE BONDS--------------------------------------------------------------------------
DESCRIPTION
13-3603615
ENDINGBOOK VALUE
SEE ATTACHED SCHEDULE 382,043.---------------
TOTALS 382,043.------------------------------
ENDING
FMV
375,710.---------------
375,710.
4CI04U E012 04/07/2009 15:32:08 V07-8.7 0102 STATEMENT 6
NEAL & JANE FREEMAN FOUNDATION, INC 13-3603615
FORM 990PF, PART VIII - LIST OF OFFICERS, DIRECTORS, AND TRUSTEES
CONTRIBUTIONS EXPENSE ACCT
TITLE AND AVERAGE HOURS PER TO EMPLOYEE AND OTHER
NAME AND ADDRESS WEEK DEVOTED TO POSITION COMPENSATION BENEFIT PLANS ALLOWANCES
---------------- ------------------------ ------------ ------------- ----------
NEAL B. FREEMAN PRESIDENT NONE NONE NONE
PO BOX 15909
FERANDINA BEACH, FL 32035
JANE M. FREEMAN SECTY - TR
PO BOX 15909
FERANDINA BEACH, FL 32035
KATHRYN F. BROWN DIRECTOR
PO BOX 15909
FERANDINA BEACH, FL 32035
GRAND TOTALS
4CI04U E012 04/07/2009 15:32:08 V07-8.7 0102
NONE NONE NONE
NONE NONE NONE
NONE NONE NONE
-------------- -------------- --------------
NONE NONE NONE
STATEMENT 7
NEAL & JANE FREEMAN FOUNDATION, INC
FORM 990PF, PART XV - GRANTS AND CONTRIBUTIONS PAID DURING THE YEAR
-------------------------------------------------------------------
RELATIONSHIP TO SUBSTANTIAL CONTRIBUTOR
AND
RECIPIENT NAME AND ADDRESS FOUNDATION STATUS OF RECIPIENT
-------------------------- ------------------------------
INTERCOLLEGIATE STUDIES INSTITUTE NONE
3901 CENTERVILLE ROAD N/A
WILMINGTON, DE 19807
PRINCETON UNIVERSITY NONE
PRINCETON, NJ 08544 N/A
FIRST PARISH CONGREGATIONAL CHURCH NONE
180 YORK STREET N/A
YORK, ME 03909
EDUCATIONAL RESEARCH INSTITUTE NONE
WASHINGTON DC, N/A
THE FUND FOR AMERICAN STUDIES NONE
1706 NEW HAMPSHIRE AVE NW N/A
WASHINGTON, DC 20009
ST THOMAS MORE COLLEGE NONE
1437 COLLEGE DRIVE S7N 0W6 N/A
SASKATOON
SASKATCHEWAN
CANADA
THE MAINE HERITAGE POLICY CENTER NONE
4 MILK STREET SUITE 201 N/A
PORTLAND, ME 04101
4C104U E012 04/07/2009 15:32:08 V07-8.7 0102
13-3603615
PURPOSE OF GRANT OR CONTRIBUTION AMOUNT
-------------------------------- ------
UNRESTRICTIVE GENERAL CONTRIBUTION 10,000.
UNRESTRICTIVE GENERAL CONTRIBUTION
1,500.
UNRESTRICTIVE GENERAL CONTRIBUTION 10,000.
UNRESTRICTIVE GENERAL CONTRIBUTION
10,000.
UNRESTRICTIVE GENERAL CONTRIBUTION 10,000.
UNRESTRICTIVE GENERAL CONTRIBUTION 5,000.
UNRESTRICTIVE GENERAL CONTRIBUTION 20,000.
STATEMENT 8
NEAL & JANE FREEMAN FOUNDATION, INC
FORM 990PF, PART XV - GRANTS AND CONTRIBUTIONS PAID DURING THE YEAR
RECIPIENT NAME AND ADDRESS
--------------------------
TRINITY CHURCH
33 MERCER STREET
PRINCETON, NJ 08540
RELATIONSHIP TO SUBSTANTIAL CONTRIBUTOR
AND
FOUNDATION STATUS OF RECIPIENT
------------------------------
NONE
N/A
13-3603615
PURPOSE OF GRANT OR CONTRIBUTION
--------------------------------
UNRESTRICTIVE GENERAL CONTRIBUTION
TOTAL CONTRIBUTIONS PAID
AMOUNT
4,600.
------------
71,100.
4C104U E012 04/07/2009 15:32:08 V07-8.7 0102 STATEMENT 9
SCHEDULE D
(Form 1041 ) Capital Gains and LossesDepartment of the Treasury ► Attach to Form 1041 , Form 5227 , or Form 990 -T. See the separate
Internal Revenue Seance instructions for Form 1041 ( also for Form 5227 or Form 990-T , if applicable).
Name of estate or trust Employer Identification number
NEAL & JANE FREEMAN FOUNDATION, INC I 13-3603615Note : Form 5227 filers need to complete only Parts l and//
Short-Term Capital Gains and Losses - Assets Held One Year or Less(a) Description of property
( Example 100 shares 7%p referred of "Z" Co
(b) Dateacquired
mo , day , r
(c) Date sold(mo , day, yr)
(d) Sales pace(e) Cost or other basis
( see page 40 of theinstructions )
(Q Gain or (loss)for the entire yearSubtract (e) from (d)
Ia
b Enter the short-term gain or (loss), if any, from Schedule D-1, line lb . . . . . . . . . . . . . . . . . . . . . 1 b -78 , 766.
2 Short-term capital gain or (loss) from Forms 4684, 6252, 6781, and 8824 . . . . . . . . . . . . . . . . 2
3 Net short-term gain or (loss) from partnerships, S corporations, and other estates or trusts . . . . 3
4 Short-term capital loss carryover Enter the amount, if any, from line 9 of the 2006 Capital Loss
Carryover Worksheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 Net short -term gain or (loss). Combine lines 1a through 4 in column (f) Enter here and on line 13,
column (3) on the back . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ► 5 78 , 766.Long-Term Capital Gains a nd Losses - Assets Held More Than One Year
(a) Description of property
( Example 100 shares 7%
p referred of "Z" Co
(b) Date
acquired
mo , day , r
(c) Date sold
(mo, day, yr)(d) Sales pace
(a) Cost or other basis(see page 40 of the
instructions)
(f) Gain or (loss)for the entire yearSubtract (e) from (d)
6a
b Enter the long-term gain or (loss), if any, from Schedule D-1, line 6b . . . . . . . . . . . . . . . . . . . . . . . 6b 13 , 156.
7 Long-term capital gain or (loss) from Forms 2439, 4684, 6252, 6781, and 8824 . . . 7
8 Net long-term gain or (loss) from partnerships, S corporations, and other estates or trusts . . . . . , . .__________________
9 Capital gain distributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10 Gain from Form 4797, Part I
.
11 Long-term capital loss carryover Enter the amount, if any, from line 14 of the 2006 Capital Loss
Carryover Worksheet . . . . . . . . . . . . . . . . . . . . . . . . . . .
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
4CI04U E012 04/07/2009 15:32:08 V07-8.7 0102
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
c 28% rate gain . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14c
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
20 Add lines 18 and 19 . . . . . . . . . . . . . . . 20
21 If the estate or trust is filing Form 4952, enter the
amount from line 4g, otherwise, enter -0- . . ► 21
22 Subtract line 21 from line 20 If zero or less, enter -0- . . . . . . . . . . . . . 22
23 Subtract line 22 from line 17 If zero or less. enter -0- . . . . . . . . . . . . . 23
24 Enter the smaller of the amount on line 17 or $2,150 . . . . . . . . . . . . . 24
25 Is the amount on line 23 equal to or more than the amount on line 24'?
Yes. Skip lines 25 through 27, go to line 28 and check the "No" box
No. Enter the amount from line 23 25
26 Subtract line 25 from line 24 . . . . . . . . . . . . . . . . . . . . . . . . . . 26
27 Multiply line 26 by 5% ( 05) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
28 Are the amounts on lines 22 and 26 the same?
ElYes. Skip lines 28 thru 31 . go to line 32
1-1NO. Enter the smaller of line 17 or line 22 28
29 Enter the amount from line 26 ( If line 26 is blank , enter -0-) . . . . . . . . . ..9
30 Subtract line 29 from line 28 . . . . . . . . . . . . . . . . . . . . . . . . . . 1 30 1
31 Multiply line 30 by 15% (15) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .32 Figure the tax on the amount on line 23 Use the 2007 Tax Rate Schedule on page 27 of the
instructions ................ .................................. .
33 Add lines 27 , 31, and 32 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
34 Figure the tax on the amount on line 17 Use the 2007 Tax Rate Schedule on page 27 of the
instructions ............. ... .................................. .
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
4CI04U E012 04/07/2009 15:32:08 V07-8.7 0102
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
4CI04U E012 04/07/2009 15:32:08 V07-8.7 0102
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
4CI04U E012 04/07/2009 15:32:08 V07-8.7 0102
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
KAYNE ANDERSON MLP INVT CO 500 16,198 95 6,68500
MEDTRONIC INC 100 3,904 99 3,052 00
MEDTRONIC INC 150 5,691 75 4,57800
MIRCOSOFT CORP 1,100 34,970 21 22,242 00
NOVO NORDISK A/S ADR 400 26,695 36 20,440 00
OMEGA HEALTHCARE INVS SERV 1,000 13,623 72 13,240 00
PFIZER INC 1,200 24,060 00 19,716 00
RAYTHEON CO 500 32,092 25 24,400 00
SPDR GOLD TR 500 30,706 67 40,155 00
SPDR GOLD TR 192 18,268 30 15,419 52
STRYKER CORP 400 25,581 12 15,568 00
FIDELITY US TREASURY FUND 54,269 54,26900 54,26900
828,846.23 697,358.86
THE NEIL AND JANE FREEMAN FOUNDATION
INVESTMENTS IN CORPORATE STOCKS
NOVEMBER 30, 2008
HOLDINGS SHS COST
FAIR
MARKET
VALUE
ABBOTT LABORATORIES 300 27,431 60 26,195 00
APPLE INC 115 10,970 46 10,657 05
BANK OF AMERICA 400 9,594 96 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
(SHARES 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 INVT CO 1,500 49,391 00 20,055 00
KAYNE ANDERSON MLP INVT CO 500 16,198 95 6,68500
MEDTRONIC INC 100 3,90499 3,05200
MEDTRONIC INC 150 5,691 75 4,578 00
MIRCOSOFT CORP 1,100 34,970 21 22,242 00
NOVO NORDISK A/S ADR 400 26,695 36 20,440 00
OMEGA HEALTHCARE INVS SERV 1,000 13,623 72 13,240 00
PFIZER INC 1,200 24,060 00 19,716 00
RAYTHEON CO 500 32,092 25 24,400 00
SPDR GOLD TR 500 30,706 67 40,155 00
SPDR GOLD TR 192 18,268 30 15,419 52
STRYKER CORP 400 25,581 12 15,568 00
FIDELITY US TREASURY FUND 54,269 54,269 00 54,269 00
828,846 .23 697,358 86
THE NEIL AND JANE FREEMAN FOUNDATION
INVESTMENTS IN CORPORATE BONDS
NOVEMBER 30, 2008
HOLDINGS
tl
SHS COST
FAIR
MARKET
VALUE
ALTRIA GROUP INC NTE 8 5% DUE 11 / 10/2013 50,000 50,601 50 50,194 00
ATMOS ENERGY CORP NTE 4 0% DUE 10/15/09 20,000 19 ,240 80 19,148 40
BELLSOUTH CORP NT 6 0% DUE 10/ 15/2011 50,000 49,602 50 49,030 00
EXELON CORP SR NT 6 75% DUE 05/01/2011 50,000 48,894 50 47,964 50
ERAC USA FIN CO NT 144A 7 95% DUE 12/15/2009 10,000 9,89440 9,52700
FED'L HOME LOAN BKS CON BD 12/29/2014 25, 000 25,015 00 25,086 00
KRAFT FOODS INC NT 4 125% DUE 11/12/2009 25,000 24,781 25 24,720 75
VERIZON COMMUNICATIONS INC 8 75% NTE DUE 11/01 /2018 150,000 154,012 50 150,039 00
382,042 . 45 375 ,709.65