Heritage Pooled Income Funds

Charitable Income Tax Deduction Calculator

This calculator indicates the charitable income tax deduction available to Donors contributing to a Heritage Pooled Income Fund in the current year, which varies as a percentage of the contribution value based on the number of individual income beneficiaries designated and their ages (as of nearest birthday) on the date of contribution. Please refer to the notes below for important disclosures. Potential Donors should consult their own tax advisors before contributing.

Please enter the number of your individual income beneficiaries and their ages.

(enter age as of nearest birthday on date of Heritage Pooled Income Fund contribution)


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Important Information

The indicated charitable income tax deduction applies to a current contribution to Current Income Fund Traditional VI, High Yield Fund Traditional VI or Growth & Income Fund Traditional VI. The indicated charitable income tax deduction may not apply to contributions to earlier series of the Pooled Income Funds (Traditional I, II, III, IV and V), which are closed to new contributors.

The percentage of contribution value indicated above applies to a U.S. individual taxpayer contributing property to a Heritage Pooled Income Fund in the current year, and reflects applicable federal guidelines for determining the deductibility of contributions to a pooled income fund prior to completion of the fund’s third tax year. Ages of individual income beneficiaries are based on their nearest birthday as of the date of contribution. The itemized federal income tax deduction available to individual taxpayers in the tax year of contribution for qualified charitable gifts to public charities is generally limited to not more than 60% of the taxpayer’s federal adjusted gross income (AGI) for cash contributions, 50% of the donor’s AGI for gifts of appreciated property for which the Donor elects to base the charitable deduction on the fair market value of the property less the amount of the property’s appreciation from cost or other tax basis, and 30% of the donor’s AGI for other gifts of appreciated property, with the balance carried forward for up to five years after the year the contribution is made. In addition to the federal income tax deduction for qualified gifts to charity, a number of states and local jurisdictions that impose income tax on their residents also permit individual taxpayers to deduct qualified gifts to charity, subject to certain limitations. See “Tax Considerations – Charitable Income Tax Deductions” in the Heritage Pooled Income Fund Information Statements for additional information.

For each contribution to a Heritage Pooled Income Fund, the Fund’s Administrator will provide the Donor with a written acknowledgement of the contribution that will include a provisional calculation of the charitable remainder portion of the Donor’s contribution for purposes of determining the Donor’s federal income tax deduction. Each Donor is responsible for reviewing and confirming the calculation with his or her own tax advisors.

This calculator is provided for illustrative purposes only and is not intended to provide, and should not be construed as providing, legal or tax advice. Each prospective Donor to a Heritage Pooled Income Fund should consult his or her own tax advisors with respect to the federal, state, local, and non-U.S. tax implications of a contribution to a Heritage Pooled Income Fund.