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Pooled Income Fund

The UNC-CH Pooled Income Fund is similar to a mutual fund in that individual contributions are "pooled" for investment purposes. The net income of the entire fund is distributed on the basis of the number and value of "shares" held by each donor. Because gifts are irrevocable, they qualify for an income tax charitable deduction based on the age of the beneficiary(ies) and the performance of the fund. The quarterly payments the beneficiary(ies) receive are taxed as ordinary income. The minimum initial contribution is $5,000, and the minimum for additional contributions is $1,000. A maximum of two beneficiaries can be named to receive income for life, but each must be at least 50 years old when designated. When a gift is funded with appreciated assets, capital gain on the appreciation is avoided.

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