Pooled Income Fund

What Does Pooled Income Fund Mean?
A type of mutual fund comprised of gifts that are pooled and invested together. Income from the fund is distributed to both the fund's participants and named beneficiaries according to their share of the fund. If you are a donor to the fund, you and the other income recipients you choose receive quarterly payments for life, and upon your death the value of the assets will be transferred to the beneficiaries.

Investopedia explains Pooled Income Fund
Basically, a pooled income fund allows you to do three things: 1) ensure a perpetual income, 2) claim a current tax deduction and 3) make a future gift to charity.

For example, say you own stock with a value of $50,000. Then you donate the stock to the pooled income fund to eventually fund scholarships for underprivileged students and  reserve for yourself an income interest for life. In the transfer of stock to the fund, you do not recognize a capital gain on the appreciated value since original purchase, so you avoid capital gains tax. You will also receive a charitable deduction for the year you enter into the pool, lowering your taxes.