A Pooled Income Fund
Endowment Committee |
A Pooled Income Fund works in a way that is similar to mutual funds. You buy units in the fund and receive income for your lifetime or for the joint lives of spouses according to the number of units you own. Upon your death, the charity receives the principle. The Episcopal Church Foundation maintains a pooled income fund, which has been paying a dividend of about 6% annually. Appreciated securities are an especially good asset to fund a contribution to a pooled income fund. The donor receives income from a diversified portfolio while avoiding capital gains taxes on the sale of the donated securities. The donor also gets a current income tax deduction for the present value of the gift the church should eventually receive. You can participate in the pooled income fund with a gift of $2,500 or more. The diocese has computer software to show you what your gift will mean financially to your and our church. You can call the rector or Father Sloan at the diocese at 213-316-7427 with any questions.
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