Pooled Income Fund

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14 Sep 2004 | Pooled Income Fund | National Publication | Article | 4 comments
Last January, the IRS published final regulations regarding pooled income funds and their ability to obtain an income tax deduction for amounts permanently set aside for charity based on state law definitions of income. Following recent conversations with IRS, PGDC...
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On December 30, 2003, the Treasury Department issued final regulations under Internal Revenue Code Section 643(b) which defines trust accounting income. David Wheeler Newman of Mitchell Silberberg...
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5 May 2003 | Pooled Income Fund | National Publication | Technical Report

This comprehensive paper provides a complete overview of pooled income funds, qualification requirements, income tax deduction rules, taxation of the fund and distributions, gift and estate tax consequences, and application of private foundation excise taxes.

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Of the three retained income gift vehicles, the pooled income fund ranks a distant third in terms of popularity. Why? Compare pooled income funds to charitable remainder trusts and charitable gift annuities in terms of payout amounts, the tax character of those amounts...
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Define: Pooled Income Fund

A pooled income fund is a trust that is established and maintained by a public charity and which receives contributions from individual donors that are commingled for investment purposes within the fund. Each donor is assigned "units of participation" in the fund that are based on the relationship of their contribution to the overall value of the fund at the time of contribution. Each year, the fund's entire net investment income is distributed to fund participants according to their units of participation. Income distributions are made to each participant for their lifetime; after which, the portion of the fund assets attributable to the participant is severed from the fund and used by the charity for its charitable purposes.