The Pooled Income Fund (PIF) is a type of charitable mutual fund or charitable trust[1] that pools the securities or cash separately donated by an individual, a family or a corporation to a charity, which is then invested to provide dividends for both the donor's beneficiary and charity. The donations are irrevocable and tax-deductible and must be from personal assets. Capital gains taxes do not apply to securities donated to such a fund.[2] The Pooled Income Fund was created by the Tax Reform Act of 1969 and is governed by IRS Section 642(c)(5).[3]
After a donor dies, the balance of their donation is given to a predetermined qualified 501(c)(3) charitable organization (or several organizations). Charities typically manage their own pooled income fund, and fund their operations through the donated securities.[4]
^Clifford, Denis (2022). Plan your estate. Chapter 20: Charitable trusts; Pooled income trusts (16th ed.). Nolo. pp. 315–316. ISBN 9781413329810.
^"Pooled Income Fund". TheFreeDictionary.com. Retrieved 26 April 2012.
^"§ 1.642(c)-5 Definition of pooled income fund". eCFR.gov. Code of Federal Regulations. Retrieved 7 September 2023.
^Chen, James (30 April 2022). "Pooled Income Fund". investopedia.com. Retrieved 1 September 2023.
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