Thank you for considering a Pooled Income Fund to benefit the Conventual Franciscan Friars of the Province of Our Lady of Consolation.

A pooled income fund is a charitable trust which combines gifts to the friars from many donors into a common investment pool with income distributed on a proportional basis.  Donations to the pooled income are irrevocable.  Donors may qualify for an immediate partial tax deduction as calculated based on their life expectancy and anticipated income stream.  Donors must pay income tax on the income stream from the pooled income fund each year.  After the donors belonging to the pooled income fund have passed, the fund distributes the remaining assets to the friars.   Note that there is no special tax treatment for payments to the donor from a pooled income fund. The IRS considers trust income distributions to be ordinary income, subject to income tax. Upon the death of the last income beneficiary, the fund’s remaining balance goes to the friars.

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