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 San Bernardino California Pooled Income Fund with Declaration of Trust by Charitable Organization is an important financial vehicle aimed at supporting charitable causes in the region. This unique fund allows individuals to make charitable donations that are pooled together and invested, generating income to both support the donors during their lifetime and contribute to the chosen charitable organization. The San Bernardino California Pooled Income Fund offers several types of charitable funds to meet the diverse philanthropic goals and the preferences of donors. These include: 1. General Pooled Income Fund: The General Pooled Income Fund allows donors to make contributions that are pooled with others in a common investment pool. The generated income is then distributed among the donors and the designated charitable organization based on their proportional contributions and current trust value. 2. Donor-Advised Pooled Income Fund: This type of fund provides the flexibility for donors to recommend and advise on how the income generated from their contributions should be distributed to specific charitable organizations. Donors can actively participate in the decision-making process by suggesting eligible charities and causes. 3. Designated Pooled Income Fund: In a Designated Pooled Income Fund, donors can choose to designate a specific charitable organization to receive the income generated from their contributions. This option allows donors to focus on supporting a particular cause or nonprofit organization that aligns with their philanthropic interests. 4. Residuary Pooled Income Fund: The Residuary Pooled Income Fund allows donors to allocate the residual assets of their estate to the charitable fund after providing for their loved ones and other beneficiaries. By including the charitable organization in their estate plan, donors can leave a lasting impact on their community. The San Bernardino California Pooled Income Fund with Declaration of Trust by Charitable Organization provides numerous advantages for both donors and the chosen charitable organizations. Donors can receive income tax deductions based on their contributions and enjoy potential growth of their investments. Simultaneously, the charitable organizations can benefit from a steady and reliable stream of income to support their operations, programs, and initiatives. Overall, the San Bernardino California Pooled Income Fund with Declaration of Trust by Charitable Organization serves as a vital financial tool, encouraging philanthropy and providing a lasting positive impact on the community by supporting charitable causes and organizations.The San Bernardino California Pooled Income Fund with Declaration of Trust by Charitable Organization is an important financial vehicle aimed at supporting charitable causes in the region. This unique fund allows individuals to make charitable donations that are pooled together and invested, generating income to both support the donors during their lifetime and contribute to the chosen charitable organization. The San Bernardino California Pooled Income Fund offers several types of charitable funds to meet the diverse philanthropic goals and the preferences of donors. These include: 1. General Pooled Income Fund: The General Pooled Income Fund allows donors to make contributions that are pooled with others in a common investment pool. The generated income is then distributed among the donors and the designated charitable organization based on their proportional contributions and current trust value. 2. Donor-Advised Pooled Income Fund: This type of fund provides the flexibility for donors to recommend and advise on how the income generated from their contributions should be distributed to specific charitable organizations. Donors can actively participate in the decision-making process by suggesting eligible charities and causes. 3. Designated Pooled Income Fund: In a Designated Pooled Income Fund, donors can choose to designate a specific charitable organization to receive the income generated from their contributions. This option allows donors to focus on supporting a particular cause or nonprofit organization that aligns with their philanthropic interests. 4. Residuary Pooled Income Fund: The Residuary Pooled Income Fund allows donors to allocate the residual assets of their estate to the charitable fund after providing for their loved ones and other beneficiaries. By including the charitable organization in their estate plan, donors can leave a lasting impact on their community. The San Bernardino California Pooled Income Fund with Declaration of Trust by Charitable Organization provides numerous advantages for both donors and the chosen charitable organizations. Donors can receive income tax deductions based on their contributions and enjoy potential growth of their investments. Simultaneously, the charitable organizations can benefit from a steady and reliable stream of income to support their operations, programs, and initiatives. Overall, the San Bernardino California Pooled Income Fund with Declaration of Trust by Charitable Organization serves as a vital financial tool, encouraging philanthropy and providing a lasting positive impact on the community by supporting charitable causes and organizations.
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.
