Sunday, May 5, 2024
Deferred Gifts

3.8.3 Basic Quiz -- Pooled Income Fund (PIF) Securities Exemption
Since the pooled income fund functions similar to a mutual fund, it was, at one time, potentially subject to regulation by the Securities and Exchange Commission.
     True      False
Before 1980, charities could obtain a "No Action Letter" from the SEC with respect to their pooled income funds.
     True      False
Financial planners and other professionals who advise their clients to contribute to a pooled income fund may receive a percentage or a commission as compensation for their services.
     True      False
The Philanthropy Protection Act of 1995 was enacted to protect the charitable remainder interest in charitable remainder trusts and pooled income funds.
     True      False
The Philanthropy Protection Act of 1995 requires that charities provide a disclosure statement to donors who contribute to their funds.
     True      False
The Philanthropy Protection Act of 1995 drastically changed the disclosure requirements for pooled income funds.
     True      False
The Philanthropy Protection Act applies to trustees of charitable trusts only when they are pooling or commingling funds from the various trusts.
     True      False
A disclosure to a donor regarding the operation of the charitable fund should describe the material terms of the operation of such fund.
     True      False
The required disclosure can be accomplished in a letter to donors of a pooled income fund, which must be drafted by the planned giving officer.
     True      False
In the disclosure statement to donors, it is recommended that the charity describe fees associated with the fund.
     True      False



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