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Pooled Income Fund
The Pooled Income Fund (PIF) operates like a charitable
mutual fund. Your gift of cash or securities to Eckerd College's
Pooled Income Fund is combined with other gifts in the fund, and
you and/or the beneficiaries you name receive quarterly income on a pro-rata
basis. The amount distributed varies with the fund’s investment
performance. When the last income beneficiary of your gift dies, the
principal attributable to your gift is removed from the Fund and used
by Eckerd College for the purpose you designate. Minimum
gift is $. Additional gifts of $ or
more are
welcome. Income beneficiaries must be age 55 or older.
What are the advantages?
- You receive a charitable deduction for a portion of your
gift.
- You and/or your named beneficiaries receive income for
life.
- You avoid all capital gains tax on any appreciated assets
you donate.
- The assets you contribute will be removed from your estate,
which may reduce your estate tax exposure.
- There is no cost connected with setting up a PIF gift.
- You can have the satisfaction of making a substantial
gift to Eckerd College.
Example
A 65-year-old donor in the 35% bracket contributes $10,000 in appreciated stock, originally purchased for $2,000, to Eckerd College's Pooled Life Income Fund. Donor
is the income beneficiary. Assume the Fund is currently yielding 4.0%.
Charitable
deduction |
$5,396 |
Income
tax savings (35%) |
$1,889 |
Capital
gains savings (15%) |
$1,200.00 |
Est.
income (first year) |
$400.00 |
PLEASE NOTE: This example is for illustration purposes
only and is not intended as legal or tax advice. Consult your legal and tax
advisors prior to making any material decisions based on this data.
Send me a Personal Illustration!
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For more information
E-mail
us, complete the Personal Illustration
form, or call us at (727) 864-8229 so that we can
assist you.
Judi Schraer
Director of Gift Planning
Eckerd College
4200 54th Avenue South
St. Petersburg, FL 33711
(727) 864-8229
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