Friday, May 3, 2024
Deferred Gifts

3.8.4 Basic Quiz -- Pooled Income Fund (PIF) Management Options
With limited exceptions, a pooled income fund must be maintained by the public charity that will be the remainder recipient.
     True      False
A national charity which serves multiple, regional or local affiliates may establish a national pooled income fund to benefit these local entities.
     True      False
Similar to a private foundation, a community foundation may not operate pooled income funds.
     True      False
A contribution to a pooled income fund administered by a community foundation must designate the remainder recipient on the date of contribution.
     True      False
It is permissible for a bank or other trust company to administer a pooled income fund on behalf of a public charity.
     True      False
Many charities choose a bank or trust company to administer their pooled income fund because they find they receive more charitable gifts.
     True      False
It is possible for a director or trustee of a charity to donate to that charity's pooled income fund.
     True      False
Financial planners and other professionals who advise their clients to contribute to a pooled income fund may receive a commission from the fund for their services.
     True      False
A disclosure to a donor regarding the operation of the pooled income fund should describe the material terms of the operation.
     True      False
Similar to charitable remainder trusts, a donor or an income beneficiary who is not a director or otherwise an employee of the charity may serve as the trustee of the pooled income fund.
     True      False



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