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.
Tarrant Texas Pooled Income Fund with Declaration of Trust by Charitable Organization is an innovative financial tool that allows individuals to support charitable causes while receiving income for life. This unique fund operates under a Declaration of Trust, which outlines the terms and conditions for donors and beneficiaries. The Tarrant Texas Pooled Income Fund offers multiple types of funds tailored to the specific needs and preferences of donors. These options include: 1. General Pooled Income Fund: This fund allows donors to contribute assets to a common pool, managed by the charitable organization. The income generated from this pool is then distributed to the beneficiaries as per the Declaration of Trust. 2. Designated Pooled Income Fund: Donors can choose to establish a designated fund for a specific charitable organization or cause. The income generated from the assets in this fund will be directed towards the designated beneficiaries. 3. Testamentary Pooled Income Fund: This type of fund allows donors to include the Tarrant Texas Pooled Income Fund with Declaration of Trust in their estate plans. Assets designated to this fund will benefit the charitable organization after the donor's passing, ensuring their philanthropic legacy continues. 4. Restricted Pooled Income Fund: Donors may opt for a restricted fund to support a particular program or initiative of the charitable organization. The income generated from the assets in this fund is bound to the specific restrictions. By contributing to the Tarrant Texas Pooled Income Fund with Declaration of Trust, donors enjoy several benefits. Firstly, they receive a charitable income tax deduction for the value of the assets contributed to the fund. Additionally, donors receive income for life or a specified period, depending on the chosen payout option. Moreover, by selecting a designated or restricted fund, donors can ensure their donations have a direct impact on their preferred charitable cause. In conclusion, the Tarrant Texas Pooled Income Fund with Declaration of Trust by Charitable Organization is an effective tool for individuals seeking to support charitable organizations and receive income streams. With various types of funds available, donors can tailor their contributions to specific causes or organizations, ensuring their philanthropic goals are met.Tarrant Texas Pooled Income Fund with Declaration of Trust by Charitable Organization is an innovative financial tool that allows individuals to support charitable causes while receiving income for life. This unique fund operates under a Declaration of Trust, which outlines the terms and conditions for donors and beneficiaries. The Tarrant Texas Pooled Income Fund offers multiple types of funds tailored to the specific needs and preferences of donors. These options include: 1. General Pooled Income Fund: This fund allows donors to contribute assets to a common pool, managed by the charitable organization. The income generated from this pool is then distributed to the beneficiaries as per the Declaration of Trust. 2. Designated Pooled Income Fund: Donors can choose to establish a designated fund for a specific charitable organization or cause. The income generated from the assets in this fund will be directed towards the designated beneficiaries. 3. Testamentary Pooled Income Fund: This type of fund allows donors to include the Tarrant Texas Pooled Income Fund with Declaration of Trust in their estate plans. Assets designated to this fund will benefit the charitable organization after the donor's passing, ensuring their philanthropic legacy continues. 4. Restricted Pooled Income Fund: Donors may opt for a restricted fund to support a particular program or initiative of the charitable organization. The income generated from the assets in this fund is bound to the specific restrictions. By contributing to the Tarrant Texas Pooled Income Fund with Declaration of Trust, donors enjoy several benefits. Firstly, they receive a charitable income tax deduction for the value of the assets contributed to the fund. Additionally, donors receive income for life or a specified period, depending on the chosen payout option. Moreover, by selecting a designated or restricted fund, donors can ensure their donations have a direct impact on their preferred charitable cause. In conclusion, the Tarrant Texas Pooled Income Fund with Declaration of Trust by Charitable Organization is an effective tool for individuals seeking to support charitable organizations and receive income streams. With various types of funds available, donors can tailor their contributions to specific causes or organizations, ensuring their philanthropic goals are met.
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.
