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The Alfred I. duPont Testamentary Trust is a non-profit organization created by philanthropist Alfred Irénée du Pont in 1935, devoted to supporting the trust's sole charitable beneficiary, the Nemours Foundation. As of 2015, the organization stated it oversaw approximately $5 billion in assets. [1][2]
Created in 1935 after the death of Alfred I. duPont, the Alfred I. duPont Testamentary Trust is one of the country’s most important financial supporters of pediatric health care. The Trust was established by Alfred I. duPont’s will, which specifically expressed his desire to serve the neediest among us, particularly children.
Alfred I. duPont was an industrialist, scientist, musician, inventor and leading turn-of-the-century philanthropist with a legacy of service. His last will and testament established the duPont Charitable Trust in 1935, which provided for the formation of The Nemours Foundation. In the decades since, Mr. duPont’s vision and compassion have ...
Title to Epping Forest was vested in an estate by the entireties in Alfred and Jessie duPont so upon Alfred's death, it would by operation of law, pass to Mrs. duPont. Mr. duPont's will made certain specific bequests (including the contents of the Nemours mansion to his wife) and then established a testamentary trust, the petitioner herein, to ...
The fortune did not become a charitable trust until Jessie's death in 1970, which explains why $30 million in estate taxes were paid in 1935. The Alfred I. duPont Testamentary Trust's sole charitable beneficiary is the Nemours Foundation, which runs children's medical facilities in
Alfred I. duPont died on May 29, 1935, at the age of 71, a legal resident of Jacksonville, Fla. His will provided for the creation of a testamentary trust, the petitioner herein. The trust's fiduciary income tax returns for 1966 and 1967 were filed with the district director of internal revenue at Jacksonville, Fla.
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The Commissioner disallowed deductions claimed by the taxpayer, a testamentary trust created under the will of Alfred I. duPont, in the tax years 1966 and 1967 for expenses of maintaining an estate owned by the taxpayer but which was then being used as Mrs. duPont's home.
