A pooled income fund is a special type of income fund in which multiple donors donate to charity together. Both the donors and the charities are able to benefit from this type of arrangement. Pooled income funds are managed by charities, usually, and because they are separate from the charity’s own assets and the donor’s assets they will need their own EIN. An EIN is a taxpayer identification number; the pooled income fund will manage its own tax returns and taxes.
Once donors pass on, their assets usually become the property of the charity (or multiple charities). A pooled income fund is an excellent way for investors to form an investment that also gives to charity, though there are other similar arrangements such as charitable trust accounts. Usually a donor would invest in a pooled income fund by talking to a charity or an investment advisor directly, as it is a type of charity-managed mutual fund