Pooled Income Fund
How It Works
- You transfer a minimum of $10,000 in cash or securities to the Pooled Income Fund.
- The fund issues you units, like a mutual fund, and pays you (or up to two income beneficiaries you name) the annual income attributable to your units for life.
- The principal attributed to your units passes to the Taft School at the passing of the last income beneficiary.
- Receive income for life in return for your gift.
- Receive an immediate income tax deduction for a portion of your gift to the Fund.
- Pay no capital gains tax on any appreciated assets you donate.
- Income can exceed dividends you were receiving on the securities you donated.