The Freeman Challenges is helping nonprofits increase their sustainability.
Welcome to the Richard West Freeman Endowment and Board-restricted Reserve Challenges
The Freeman Challenges (The Challenges) are on a two-year cycle. The program will re-open in the spring of 2021. Please contact Kristen Craig (email@example.com) to be placed on our email list for notification of the opening of the next cycle.
About the Challenges
For the Freeman family, philanthropy is a family affair. For three generations, family members have successfully honored the philanthropic legacy of Richard West Freeman while remaining open to new ideas and experiences to address our community’s ever-changing needs.
The Freeman Endowment Challenge
The rewards of an endowment are many: it signifies a major turning point in an organization’s growth and creates an aura of permanence; it conveys a ‘seal of approval’; it can contribute to the long-term stability of an organization; it can generate income long after contributions are made; and, it’s a powerful way to pursue long-term organizational goals. But, there are some risks to establishing an endowment that you should know before embarking on a campaign. Are you ready?
The Freeman Board-restricted Reserve Challenge
The rewards of a reserve or “rainy day” fund are many: it can help with the ups-and-downs of funding; it can cover unexpected dips in revenue due to an ever-changing economic landscape; and, it can provide working capital for an unplanned opportunity. It’s the safety cushion an organization knows it needs, yet far too few organizations have in place. Creating a board-restricted cash reserve policy might be right for you, but are you ready?