pooled income fund

Definition

A fund of donated investments operated by a charitable organization. The fund obtains its assets through charitable contributions of securities from individual investors. The donations are combined to form a pool of investments that are managed by the fund with the annual net prorata earnings being shared by the donors throughout their lifetimes. Upon a donor's death, his or her share of the earnings passes to the charitable organization.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
life income plan charitable remainder trust