The American Red Cross is available to help you find the information you need to make or revise a will or estate plan. The Second Century Pooled Income Fund is a trust fund made up of irrevocable gifts from a number of donors. Under the terms of a Declaration of Trust, The American National Red Cross serves as trustee of the fund. Donors who make gifts to the Pooled Income Fund may retain an income for their lifetime and may name an additional lifetime beneficiary as well. Upon the death of the last life-income beneficiary, the funds donated become the property of the American Red Cross, to be used for the charitable purposes for which the organization was founded.
Many donors specify a favorite chapter as the ultimate charitable beneficiary.
Each contribution, together with similar gifts from others who support the Red Cross, is placed in the fund and invested as part of the Red Cross Endowment Fund. No fee is charged by the Red Cross for management of the fund. Gifts to the fund are invested to earn income, which is divided proportionally among all contributors on the basis of the number of shares held. Any individual beneficiaries receive monthly income payments for as long as they live. Upon the death of the last individual beneficiary, the shares assigned are withdrawn from the fund and paid to the chapter or the national sector, according to the wishes of the donor, as specified in the gift agreement.