McLEAN POOLED INCOME FUNDS
Pooled income funds are similar to mutual funds. Donors' gifts are joined and assigned a proportionate interest in the fund. Each beneficiary receives a variable income stream for life. A second beneficiary may be named to receive a lifetime income from the gift and the payout rate does not change.
One of the greatest advantages of making a gift of long-term appreciated securities to one of the pooled income funds is that capital gains taxes, currently at a maximum rate of 20 percent for long-term appreciated securities, are completely avoided. A minimum of $10,000 is needed to join one of McLean's pooled income funds, after which gifts of $1,000 or more may be added at any time.
McLean offers two pooled income funds, each with different investment objectives and financial benefits.
Summary of financial benefits:
- Lifetime income stream - payments are variable
- Charitable income tax deduction for a portion of the gift
- Complete avoidance of capital gains taxes for gifts of long-term appreciated securities
If you would like to learn more about this giving opportunity, please contact the McLean Development office at 617.855.3571 or by email (McLeanDevelopment@partners.org).