Your gift is commingled and invested with other pooled income fund gifts, generating income payments each quarter to you or a chosen beneficiary. Payments are based on the earnings of your proportionate interest in the fund. Upon your death or the death of the first beneficiary, income payments may pass to a second beneficiary, such as a spouse. When all income beneficiaries have died, your shares in the fund become available to the Academy. You are entitled to an income tax deduction for part of the gift, subject to the same contribution ceilings mentioned earlier for outright gifts of cash or securities.
Most donors also experience an increase in annual income as a result of the gift.
Exeter offers two pooled income funds, for donors with different financial goals. The Lewis Perry Income Fund may appeal to donors who need to maximize the return on their life income gift to Exeter. The William G. Saltonstall Balanced Fund may appeal to donors who would like to receive a more moderate income now, maximizing growth opportunities in the fund over time. A charitable remainder trust can be established with cash, appreciated securities, real estate, or other marketable assets. When the trust expires, the principal becomes available to the Academy.