DeMolay Foundation | |
Founded in 1948, the DeMolay Foundation is responsible for fund raising activities. The DeMolay Foundation is a tax-exempt body governed by a volunteer Board of Trustees. It provides educational materials, scholarships and leadership training. These programs directly benefit DeMolays and DeMolay chapters. By donating to the DeMolay Foundation, Senior DeMolays, friends of DeMolay and others concerned with the future of the Order of DeMolay can ensure that future generations will enjoy the positive benefits of DeMolay. Supporters can donate to the DeMolay Foundation in a variety of ways: Contributions - Contributions can be made at any time to the DeMolay Foundation. Real Estate - Real estate may be given to the DeMolay Foundation or, if it is a donor's residence or farm, may be given subject to retained life interests. The value of the interest being contributed may be used as a charitable contribution for income tax purposes. Securities - Contributions of securities may be easily accomplished. If the donor's securities have appreciated in value at the time of the gift, there can be income tax and other advantages to the donor. Insurance - The DeMolay Foundation can be designated as both the irrevocable beneficiary and owner of an insurance policy. The DeMolay Foundation would thus be assured of a definite sum in the future. The cash surrender value and annual premium may be deducted as a charitable contribution. Wills - Designations of bequests should clearly indicate the DeMolay Foundation. Bequests under wills may reduce estate taxes. Trusts - Irrevocable charitable remainder unitrusts or annuity trusts may be established to provide for lifetime payments to the named beneficiaries. Upon the death of the surviving income beneficiary, assets would be utilized for the DeMolay Foundation's charitable purposes. |
