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 Contra Costa California Pooled Income Fund with Declaration of Trust by Charitable Organization is a financial vehicle designed to provide individuals with an opportunity to generate income while supporting charitable causes in the Contra Costa County region of California. This fund operates under a Declaration of Trust, ensuring transparency, accountability, and adherence to legal requirements. The Contra Costa California Pooled Income Fund allows individuals to contribute assets, such as cash, securities, or real estate, into a communal pool. These assets are then managed by a charitable organization, which invests them to generate income. The income generated is distributed to the contributors as regular payments throughout their lifetime. By participating in the Pooled Income Fund, donors can accomplish their philanthropic goals while also benefiting from potential tax advantages. Contributions to the fund may be tax-deductible, depending on the applicable laws and regulations. Within the Contra Costa California Pooled Income Fund with Declaration of Trust by Charitable Organization, there can be different types or variations available, including: 1. General Pooled Income Fund: This is the standard option where contributions are commingled, and the income generated is proportionally distributed among the contributors. The fund may invest in a diverse range of assets to achieve optimal returns. 2. Designated Pooled Income Fund: This variation allows donors to direct their contributions to a specific charitable cause or organization of their choice within the Contra Costa County area. When the income is generated, it is allocated accordingly to the designated beneficiaries. 3. Nondesignated Pooled Income Fund: Similar to the General Pooled Income Fund, this variation does not require contributors to specify a particular charitable beneficiary. The income generated is collectively distributed among the participants according to their share in the fund. It's important for potential participants to carefully review the terms of the specific Contra Costa California Pooled Income Fund with Declaration of Trust by Charitable Organization they are considering, as each may have unique provisions and guidelines. Consulting with a financial advisor or contacting the charitable organization managing the fund can provide further clarity and guidance regarding specific details and benefits associated with the fund.The Contra Costa California Pooled Income Fund with Declaration of Trust by Charitable Organization is a financial vehicle designed to provide individuals with an opportunity to generate income while supporting charitable causes in the Contra Costa County region of California. This fund operates under a Declaration of Trust, ensuring transparency, accountability, and adherence to legal requirements. The Contra Costa California Pooled Income Fund allows individuals to contribute assets, such as cash, securities, or real estate, into a communal pool. These assets are then managed by a charitable organization, which invests them to generate income. The income generated is distributed to the contributors as regular payments throughout their lifetime. By participating in the Pooled Income Fund, donors can accomplish their philanthropic goals while also benefiting from potential tax advantages. Contributions to the fund may be tax-deductible, depending on the applicable laws and regulations. Within the Contra Costa California Pooled Income Fund with Declaration of Trust by Charitable Organization, there can be different types or variations available, including: 1. General Pooled Income Fund: This is the standard option where contributions are commingled, and the income generated is proportionally distributed among the contributors. The fund may invest in a diverse range of assets to achieve optimal returns. 2. Designated Pooled Income Fund: This variation allows donors to direct their contributions to a specific charitable cause or organization of their choice within the Contra Costa County area. When the income is generated, it is allocated accordingly to the designated beneficiaries. 3. Nondesignated Pooled Income Fund: Similar to the General Pooled Income Fund, this variation does not require contributors to specify a particular charitable beneficiary. The income generated is collectively distributed among the participants according to their share in the fund. It's important for potential participants to carefully review the terms of the specific Contra Costa California Pooled Income Fund with Declaration of Trust by Charitable Organization they are considering, as each may have unique provisions and guidelines. Consulting with a financial advisor or contacting the charitable organization managing the fund can provide further clarity and guidance regarding specific details and benefits associated with the fund.
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.
