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Establishing an Account

To establish a Raymond James Pooled Income Funds account, you can contribute as little as $20,000 in cash or marketable securities. Subsequent contributions can be made in amounts of $5,000 or more.

All gifts to Raymond James Pooled Income Funds are irrevocable, so it’s important for you to consider your long-range needs before choosing to give.

Before you make your initial contribution, you will be asked to complete and sign a PIF Account Application. You will also be asked to name your account. You can honor a cherished family member – “The Margaret Smith Memorial Foundation,” or you can highlight your personal charitable goals – “The Smith Family Foundation for the Performing Arts.”

Moreover, the Gift Agreement allows you to name up to two income beneficiaries to receive the lifetime of income that your gift will generate. You can name yourself and another person – your spouse, a child or grandchild, or a sibling, for instance. Or you can designate two people other than yourself.

Income is paid on a monthly basis and you decide how these monthly payments are issued. Income can be disbursed concurrently, with half of every monthly payment being paid to each beneficiary, or consecutively, with all monthly payments going to one person for the remainder of his or her life and then monthly payments going to the second person for the remainder of his or her life.

If you choose to have your donation transferred to our donor-advised fund at the death of the final income beneficiary, you will also be asked to advise in four areas:

  • How the money is invested within the options offered by the fund,
  • Which charities will ultimately receive the remaining principal of the gift,
  • How much will be given to each charity and
  • Who will make these decisions instead of or as a successor to you.

Choosing Charities

While people support different charities, the one common denominator among donors is a generous spirit. You want to make a difference. And now you can enjoy the power of giving without the hassle of timing, tax concerns, expenses and recordkeeping ... and your charitable donation generates income, paid monthly, to you and/or the beneficiary(ies) you name. Upon the death of the last income beneficiary, the principal passes through the Raymond James Charitable Endowment Fund to the charity of your choice or to our donor-advised fund, which will invest the remaining assets and make future grants, with board approval, to organizations you have chosen.

You may recommend grants to any combination of more than 600,000 U.S. charities that qualify as 501(c)(3) organizations under the Internal Revenue Code. Your choices may include religious organizations, hospitals, clinics, homeless and abuse shelters, museums, scout camps, colleges, elementary schools, opera houses, community centers, theatre groups and many more worthy organizations.

If you’d rather be more general in your giving, you can specify grants in support of causes important to you, such as children’s health, the environment or women’s issues. The board will ensure that your gift is used in support of that purpose.

It is important to remember that your grants cannot be used to fund a private foundation or for political or lobbying purposes. In addition, the board retains the right to disapprove recommendations not meeting its guidelines. The fund will be happy to verify the tax-exempt charitable status of the organizations you recommend, thereby protecting you from supporting nonqualified recipients and losing your tax deduction.

Although your charitable contributions are usually at least partially tax-deductible, every individual’s tax situation is unique. Before donating to the fund, you may wish to consult your attorney or accountant with respect to questions about your tax liability.

Making Grants

If you choose to have your gift passed along to another charity rather than our donor-advised fund, grants are made to organizations you designate, subject to board approval, when the last named beneficiary passes away. Future grants can also be recommended by the successor donor advisor you name. The fund will send a letter with the grant check recognizing that you recommended the gift, or, if you wish, you can remain anonymous. It is important to note that no grants can be made while income is being distributed.
 
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