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.
Miami-Dade Florida Pooled Income Fund with Declaration of Trust by Charitable Organization is a unique financial instrument that allows individuals to make contributions to a charitable organization while receiving regular income payments for the rest of their lives. This charitable fund offers a win-win situation for donors who seek to support philanthropic causes in the Miami-Dade area and enjoy financial benefits simultaneously. The Miami-Dade Florida Pooled Income Fund operates under a Declaration of Trust, which outlines the terms and conditions of the fund's structure and operation. Charitable organizations establish and manage these funds to attract donors who wish to make a meaningful impact on their community. By contributing to the Miami-Dade Florida Pooled Income Fund, individuals can enjoy several advantages. Firstly, they can receive a lifetime income stream generated from the investment earnings of the charitable fund's assets. This constant flow of income adds financial security and stability to donors' lives. Moreover, donors who contribute to the Miami-Dade Florida Pooled Income Fund may also qualify for an immediate tax deduction based on the amount of their contribution. This tax benefit can help reduce the donor's overall tax liability, providing further financial incentives. The Miami-Dade Florida Pooled Income Fund with Declaration of Trust by Charitable Organization offers flexibility to donors. They have the option to contribute various types of assets, including cash, securities, or real estate. This allows individuals to choose a contribution method that aligns with their financial goals and objectives. Additionally, there may be different types of Miami-Dade Florida Pooled Income Funds available, tailored to meet varying donor needs and preferences. For example, some funds may focus on supporting specific charitable causes, such as education, healthcare, or environmental conservation. Donors can choose to contribute to a fund that aligns with their personal passions and values. In summary, the Miami-Dade Florida Pooled Income Fund with Declaration of Trust by a Charitable Organization is an excellent option for individuals looking to make a lasting impact on their community while receiving financial benefits. By contributing to this fund, donors can enjoy a lifetime income stream, immediate tax deductions, and the flexibility to support causes they care about. It is a powerful financial tool that fosters philanthropy and helps create a better future for Miami-Dade residents.Miami-Dade Florida Pooled Income Fund with Declaration of Trust by Charitable Organization is a unique financial instrument that allows individuals to make contributions to a charitable organization while receiving regular income payments for the rest of their lives. This charitable fund offers a win-win situation for donors who seek to support philanthropic causes in the Miami-Dade area and enjoy financial benefits simultaneously. The Miami-Dade Florida Pooled Income Fund operates under a Declaration of Trust, which outlines the terms and conditions of the fund's structure and operation. Charitable organizations establish and manage these funds to attract donors who wish to make a meaningful impact on their community. By contributing to the Miami-Dade Florida Pooled Income Fund, individuals can enjoy several advantages. Firstly, they can receive a lifetime income stream generated from the investment earnings of the charitable fund's assets. This constant flow of income adds financial security and stability to donors' lives. Moreover, donors who contribute to the Miami-Dade Florida Pooled Income Fund may also qualify for an immediate tax deduction based on the amount of their contribution. This tax benefit can help reduce the donor's overall tax liability, providing further financial incentives. The Miami-Dade Florida Pooled Income Fund with Declaration of Trust by Charitable Organization offers flexibility to donors. They have the option to contribute various types of assets, including cash, securities, or real estate. This allows individuals to choose a contribution method that aligns with their financial goals and objectives. Additionally, there may be different types of Miami-Dade Florida Pooled Income Funds available, tailored to meet varying donor needs and preferences. For example, some funds may focus on supporting specific charitable causes, such as education, healthcare, or environmental conservation. Donors can choose to contribute to a fund that aligns with their personal passions and values. In summary, the Miami-Dade Florida Pooled Income Fund with Declaration of Trust by a Charitable Organization is an excellent option for individuals looking to make a lasting impact on their community while receiving financial benefits. By contributing to this fund, donors can enjoy a lifetime income stream, immediate tax deductions, and the flexibility to support causes they care about. It is a powerful financial tool that fosters philanthropy and helps create a better future for Miami-Dade residents.
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.
