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Couple Supports Passion for Athletics

Rose and Joe Folsom

Rose and Joe Folsom

Joe and Rose Folsom of Lincoln keep in touch with their alma mater at the western end of the state and are pleased they were able to designate that a portion of their estate will go to Chadron State College.

Rose moved to Chadron following graduation from Sidney High School in May 1949 and soon met Joe Folsom, an all-around athlete at Chadron State. They were married in July 1950, just prior to the start of his senior year when he earned his third letter in football and fourth letter in basketball with the Eagles.

Following graduation, Joe taught business, economics and world history and coached basketball for 40 years in Nebraska high schools. His first stop was in Ogallala, where he took two of his teams to the state tournament. The 1957-58 team went 18-2 and was the Class A runner-up. In 1980 when the late Jerry Mathers published his "Nebraska High School Sports," Joe was selected as the all-class Coach of the Year.

After the stint in Ogallala, the Folsoms moved to North Platte High, where Joe led another team to the state tourney. He went to Lincoln High School in 1968 and spent 15 years as an assistant coach for the Links. He continued to teach until retiring in 1991.

After staying home to raise their four children, Rose enjoyed working 17 years as assistant manager of a Russell Stover candy store and 10 years as a sales clerk at a B. Dalton bookstore. She shares her husband’s passion for athletics and the Folsoms' planned gift will create a scholarship for a student majoring in physical education.

To learn more about ways you, like the Folsoms, can support your passions and Chadron State, contact Ben Watson at or 308-432-7007.

eBrochure Request Form

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A charitable bequest is one or two sentences in your will or living trust that leave to Chadron State Foundation a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Chadron State Foundation, a nonprofit corporation currently located at 1000 Main, Chadron NE 69337, or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Chadron State Foundation or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Chadron State Foundation as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Chadron State Foundation as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Chadron State Foundation where you agree to make a gift to Chadron State Foundation and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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