Pooled Income Fund

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Pooled Income Fund

A mutual fund comprising of donated securities and/or cash, the proceeds of which go to charity and donors. One donates securities and cash to create a pooled income fund, which is then invested as if it were a regular mutual fund, which pays dividends to donors each quarter in proportion to the amount donated as a percentage of the whole fund. When a donor dies, what remains of his/her donation as a percentage of the total fund is given to a charity. Usually charities administer pooled income funds, and the remaining donation goes to their own charitable operations. All cash and securities donated to pooled income funds qualify as charitable gifts for tax purposes; importantly, securities so donated are exempt from capital gains tax.
References in periodicals archive ?
The bank said donor-advised funds are the fastest-growing segment of charitable giving vehicles, ahead of private foundations, trusts, annuities and pooled income funds.
The estimated total of 238,293 DAF accounts in 2014 compared with the combined estimated total of 190,447 for private foundations, unitrusts, annuity trusts, lead trusts and pooled income funds.
The details on each are beyond the scope of this article, but the major types include charitable gift annuities (CGAs), charitable remainder annuity trusts (CRATs), charitable remainder unitrusts (CRUTs) and pooled income funds (PIFs).
2, 3) There are three distinct types of split-interest trusts: charitable remainder trusts, charitable lead trusts, and pooled income funds.
3) Pooled income funds providing income from co-mingled investments and charitable gift annuities providing income as a general obligation of the charity--see pages 337 and 340.
9m) The deemed rate of return for transfers to new pooled income funds in 2010 is 4.
Pooled income funds formed by the Philanthropy Fund of America at www.
The Pension Protection Act amended IRC [section] 6034 to allow the IRS to merge forms 5227 and 1041-A for charitable remainder trusts, charitable lead trusts and pooled income funds.
State University has four different pooled income funds from which to choose.
With the exception of pooled income funds and wealth replacement trusts, discussed below, this section deals with charitable split interest trusts that have, as the chapter title implies, split interests, that is, both charitable and non-charitable beneficiaries.
A: The term "financial account" includes money market funds, checking, demand, savings, pooled income funds and time deposit accounts, as well as securities accounts.
Created in 1969 under Section 642(c) of the Internal Revenue Code, pooled income funds are similar to charitable remainder trusts in that they provide lifetime income for the donor, with the remainder of the fund going to the designated charity when the last beneficiary dies.