A fund to help your family, your parish, your diocese, your Catholic Charities
The Diocese of San Jose has created a Pooled Income Fund that will make it possible for you to give to others and help your family at the same time. Your gift will continue to earn income for your loved ones. For some donors, a gift can mean an increase in income.
By making a gift to the Pooled Income Fund, you support the work of the Church for years to come. Upon the death of the last beneficiary, your gift will carry on the ministry of your parish, Catholic schools, Catholic Charities, and/or the Diocese of San Jose. When you make your gift, you select which aspects of the Church's work you want to support.
The Diocesan Pooled Income Fund is similar to a mutual fund. Your gift is invested together with the gifts of other donors and each donor receives a share of the Fund's earning of 5,000 or more each year. Payments are made quarterly and continue for the rest of the lives of any two individuals you name over the age of 55. If you wish, payments can continue for a beneficiary after your death. The principal is an irrevocable gift which will ultimately be used to support one or more aspects of the Church's ministry.
OUR INVESTMENT STRATEGY
The Fund will be invested to produce the hightest income for you consistent with security of principal. Generally speaking, we expect the income, which will change year by year, to reflect current money market rates.
Some of the benefits of making a gift to the Fund:
- Get a tax deduction
- Pay no capital gains tax
- If applicable, lower your estate tax
- For some, an increase in income
- Avoids the costs and delay of probate
- Eliminates the worry of managing the money
MAKE A GIFT THAT GOES ON GIVING
Some donors make their gift in cash. However if you donate appreciated securities (for example, stocks) you will avoid any capital gains tax. Other securities are also acceptable as long as they are publicly traded. If they have gone down in value, you would probably be better off selling them, taking the loss as a deduction on your tax return, and contributing the proceeds.
You can claim a charitiable deduction on your tax return for the year in which you make the gift.
The amount of the deduction depends upon:
- The amount of your gift
- The ages of those receiving the income
- The earning rate of the Fund
The minimum age for this program is 55 and the minimum amount is $5,000.00. Subsequent additions of $1,000.00 or more can be made to your account in the Fund.
Please contact:
The Pooled Income Fund
Diocese of San Jose
900 Lafayette Street, Suite 301
Santa Clara, CA 95050-4966
Phone: (408) 983-0168
E-mail Bob Serventi at serventi@dsj.org
> Diocese of San Jose Financial and Charitable Planning Guide
