One or two people may receive income for the rest of their lives. Life partners and married couples often receive income jointly, and then the survivor. The suggested minimum age for income recipients is 55. The Pooled Income Fund provides a variable income stream for life. The amount of each quarterly payment will vary with the actual performance of the investments.
Payments are reportable as ordinary taxable income.
Participants receive an annual K-1 statement for income tax reporting purposes. You may name your own church, fellowship, or society or any other UUA-affiliated organization to benefit from your PIF gift. However, the choice is entirely up to you. Highly appreciated, low-yielding securities are ideal. You will be eligible to claim a one-time, charitable income tax deduction for a percentage of your gift.