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 Nassau New York Pooled Income Fund with Declaration of Trust by Charitable Organization is a philanthropic investment vehicle that allows individuals to donate assets to a charitable organization while still receiving an income stream during their lifetime. This fund operates under the rules and regulations set forth by the state of New York, specifically in Nassau County. A pooled income fund is an investment pool where multiple donors contribute assets, and the income from these assets is distributed among the donors based on their share of the fund. It provides individuals with a way to support charitable causes while enjoying regular income payments. The Declaration of Trust is a legal document that outlines the terms and conditions of the fund, guiding how it is managed and the responsibilities of the parties involved. This document ensures transparency and protects the interests of both the donors and the charitable organization. The Nassau New York Pooled Income Fund offers various types or variations that cater to different donor requirements or preferences. These types may include: 1. General Pooled Income Fund: This is the most common type where donors contribute assets to the fund, and the income generated is distributed among the donors. 2. Named or Designated Pooled Income Fund: In this type, donors can designate specific charitable organizations to receive a share of the income generated from their contributed assets. It allows individuals to support causes that are personally meaningful to them. 3. Restricted Pooled Income Fund: This variation limits the beneficiaries of the income to a specific purpose or project defined by the charitable organization. It helps fund specific initiatives or programs that align with the organization's mission. 4. Non-Charitable Unit rust Pooled Income Fund: This type combines a charitable and non-charitable beneficiary. It allows donors to support both charitable organizations and non-charitable beneficiaries, such as family members, while still enjoying the income generated from the assets. The Nassau New York Pooled Income Fund with Declaration of Trust by Charitable Organization provides individuals with an opportunity to create a lasting impact through their philanthropy while enjoying financial benefits. It is a flexible and effective way to support charitable causes in Nassau County, New York.The Nassau New York Pooled Income Fund with Declaration of Trust by Charitable Organization is a philanthropic investment vehicle that allows individuals to donate assets to a charitable organization while still receiving an income stream during their lifetime. This fund operates under the rules and regulations set forth by the state of New York, specifically in Nassau County. A pooled income fund is an investment pool where multiple donors contribute assets, and the income from these assets is distributed among the donors based on their share of the fund. It provides individuals with a way to support charitable causes while enjoying regular income payments. The Declaration of Trust is a legal document that outlines the terms and conditions of the fund, guiding how it is managed and the responsibilities of the parties involved. This document ensures transparency and protects the interests of both the donors and the charitable organization. The Nassau New York Pooled Income Fund offers various types or variations that cater to different donor requirements or preferences. These types may include: 1. General Pooled Income Fund: This is the most common type where donors contribute assets to the fund, and the income generated is distributed among the donors. 2. Named or Designated Pooled Income Fund: In this type, donors can designate specific charitable organizations to receive a share of the income generated from their contributed assets. It allows individuals to support causes that are personally meaningful to them. 3. Restricted Pooled Income Fund: This variation limits the beneficiaries of the income to a specific purpose or project defined by the charitable organization. It helps fund specific initiatives or programs that align with the organization's mission. 4. Non-Charitable Unit rust Pooled Income Fund: This type combines a charitable and non-charitable beneficiary. It allows donors to support both charitable organizations and non-charitable beneficiaries, such as family members, while still enjoying the income generated from the assets. The Nassau New York Pooled Income Fund with Declaration of Trust by Charitable Organization provides individuals with an opportunity to create a lasting impact through their philanthropy while enjoying financial benefits. It is a flexible and effective way to support charitable causes in Nassau County, New York.
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.
