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Pooled Income Fund (PIF)The pooled income fund (PIF) is often referred to as
the "mutual fund of life income gifts." A gift of cash or securities
is transferred into a pooled income fund at Deseret Trust Company, which,
as trustee, manages the assets and pays an income for life to you or the
income beneficiaries you designate. At the death of the income beneficiary,
the remaining assets left in the pooled income fund account are transferred
to the Marriott School.
The typical donor:
Gifts features and benefits:
How Do I Make a Gift of a Pooled Income Fund? Deseret Trust Company has created and manages several pooled income funds. After cash or marketable securities are transferred to Deseret Trust Company, these assets are pooled, reinvested, and managed with other donors' assets to leverage investment performance. A percentage share of the income earned in the fund is paid to you or the income beneficiaries you choose. When the income beneficiaries die, the remaining assets in your portion of that fund are transferred to the Marriott School. Before you begin, you need to make sure your financial and legal advisors are part of your gift strategy team. A gift using one of Deseret Trust Company's pooled income funds can have an impact on other parts of your financial and estate plan. The professional staff at LDS Foundation can assist you and your advisors in completing your gift. Other Facts You Should Know about a Pooled Income Fund
The income tax deduction you receive
when giving through a pooled income fund is based on an Internal Revenue
Service formula that considers your age, the ages of other income beneficiaries,
the projected assumed payout of the fund, and a federal index rate.
The older you are at the time you make a pooled income fund gift, the
larger your income tax deduction based on the amount of gift transferred. The trust provisions you have control of when giving through a pooled income fund include:
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