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Pooled Income Fund

A pooled income fund ("fund") is a gift plan defined by federal tax law that allows a donor to provide income to herself or others for life while making a generous gift to charity.

A donation to a pooled income fund, usually cash or securities, is invested together with the gifts of all other donors to the fund. The donor receives an income tax deduction equal to the gift's remainder value to the charity, subject to IRS 30%/50% limitations. Each quarter, the donor's proportional share of the fund's income is distributed to the income beneficiaries named by the donor. The amount distributed varies with the fund's investment performance.

When the last income beneficiary of the donor's gift dies, the principal attributable to the gift is removed from the fund and given to the fund's charitable beneficiary, to be used for the purpose the donor designates.

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