A pooled income fund is an irrevocable trust established and maintained by a public charity to which many donors can make contributions. Generally, it works as follows:
" Contributions received from individual donors are commingled for investment purposes.
" Each year, the donor (or the donor's designated income beneficiary) receives a distribution in an amount equal to the donor's pro rata share of the fund's net investment income.
" At the death of the income beneficiary, the portion of the fund attributable to the donor's gift is severed from the fund and distributed to a charity or charities of the donor's choice.
In the year of contribution, the donor may be entitled to an income tax charitable deduction.
Contributions are treated as gifts to a public charity for purposes of the income tax deductibility limitations.
The pooled income fund may accept appreciated assets from a donor and sell the appreciated property without the donor incurring immediate recognition of capital gains. If the property is encumbered by debt, other rules apply. The gift to a pooled income fund qualifies for the charitable gift and estate tax deduction. However, gift or estate tax may be incurred if the income interest is payable to someone other than the donor or the donor's spouse.
The Bronx New York Pooled Income Fund with Declaration of Trust by Charitable Organization is a vehicle for individuals and families who wish to donate assets to support charitable causes in the Bronx, New York. This fund offers a unique opportunity for donors to give back to their community while receiving income from their charitable contributions. The Bronx New York Pooled Income Fund operates under the principles of a Declaration of Trust, which establishes the guidelines and parameters for the fund's management. This legally binding document ensures that the charitable organization responsible for administering the fund acts in the best interest of the donors and the recipients. Key Features of the Bronx New York Pooled Income Fund with Declaration of Trust: 1. Income Generation: The fund aims to generate income through investments made with the donated assets. Donors receive a proportionate share of the income based on their contribution to the fund. 2. Charitable Giving: The primary purpose of the fund is to support various charitable causes in the Bronx, New York. The charitable organization managing the fund identifies projects and programs that align with the donors' philanthropic goals. 3. Donor Retention of Income: Donors to the fund have the advantage of receiving income from the donated assets during their lifetime. This feature allows individuals or families to provide ongoing support to charitable causes while also receiving financial benefits. 4. Investment Diversification: The fund's assets are invested in a diversified manner to ensure stability and growth of the fund. Investments may include stocks, bonds, real estate, or other assets, with the goal of generating consistent income for the fund and its donors. Different Types of Bronx New York Pooled Income Fund with Declaration of Trust by Charitable Organization: 1. Education and Scholarship Fund: This specific type of Bronx New York Pooled Income Fund focuses on providing educational opportunities and scholarships for deserving students in the Bronx. The fund helps support schools, colleges, and educational programs aimed at enhancing access to quality education. 2. Health and Community Wellness Fund: This variation of the Bronx New York Pooled Income Fund aims to improve community health and wellness in the Bronx. The fund supports healthcare facilities, medical research, community outreach programs, and initiatives focused on preventive health measures. 3. Arts and Culture Fund: The Arts and Culture variant of the Bronx New York Pooled Income Fund emphasizes preserving, promoting, and supporting artistic endeavors in the Bronx. This fund provides resources for cultural events, art exhibitions, performances, and the overall development of artistic talent in the community. 4. Environmental Conservation Fund: This type of Bronx New York Pooled Income Fund is dedicated to preserving and conserving the natural environment in the Bronx. The fund supports environmental education programs, conservation efforts, and initiatives aimed at ensuring the sustainability of natural resources. The Bronx New York Pooled Income Fund with Declaration of Trust by Charitable Organization presents a unique charitable giving opportunity for individuals and families with a passion for supporting their community in the Bronx, New York. By donating assets to this fund, donors can make a significant impact on various philanthropic causes while also benefiting from lifetime income.The Bronx New York Pooled Income Fund with Declaration of Trust by Charitable Organization is a vehicle for individuals and families who wish to donate assets to support charitable causes in the Bronx, New York. This fund offers a unique opportunity for donors to give back to their community while receiving income from their charitable contributions. The Bronx New York Pooled Income Fund operates under the principles of a Declaration of Trust, which establishes the guidelines and parameters for the fund's management. This legally binding document ensures that the charitable organization responsible for administering the fund acts in the best interest of the donors and the recipients. Key Features of the Bronx New York Pooled Income Fund with Declaration of Trust: 1. Income Generation: The fund aims to generate income through investments made with the donated assets. Donors receive a proportionate share of the income based on their contribution to the fund. 2. Charitable Giving: The primary purpose of the fund is to support various charitable causes in the Bronx, New York. The charitable organization managing the fund identifies projects and programs that align with the donors' philanthropic goals. 3. Donor Retention of Income: Donors to the fund have the advantage of receiving income from the donated assets during their lifetime. This feature allows individuals or families to provide ongoing support to charitable causes while also receiving financial benefits. 4. Investment Diversification: The fund's assets are invested in a diversified manner to ensure stability and growth of the fund. Investments may include stocks, bonds, real estate, or other assets, with the goal of generating consistent income for the fund and its donors. Different Types of Bronx New York Pooled Income Fund with Declaration of Trust by Charitable Organization: 1. Education and Scholarship Fund: This specific type of Bronx New York Pooled Income Fund focuses on providing educational opportunities and scholarships for deserving students in the Bronx. The fund helps support schools, colleges, and educational programs aimed at enhancing access to quality education. 2. Health and Community Wellness Fund: This variation of the Bronx New York Pooled Income Fund aims to improve community health and wellness in the Bronx. The fund supports healthcare facilities, medical research, community outreach programs, and initiatives focused on preventive health measures. 3. Arts and Culture Fund: The Arts and Culture variant of the Bronx New York Pooled Income Fund emphasizes preserving, promoting, and supporting artistic endeavors in the Bronx. This fund provides resources for cultural events, art exhibitions, performances, and the overall development of artistic talent in the community. 4. Environmental Conservation Fund: This type of Bronx New York Pooled Income Fund is dedicated to preserving and conserving the natural environment in the Bronx. The fund supports environmental education programs, conservation efforts, and initiatives aimed at ensuring the sustainability of natural resources. The Bronx New York Pooled Income Fund with Declaration of Trust by Charitable Organization presents a unique charitable giving opportunity for individuals and families with a passion for supporting their community in the Bronx, New York. By donating assets to this fund, donors can make a significant impact on various philanthropic causes while also benefiting from lifetime income.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
