ffis NOS SAU DUB ON“BU'L LeT LN 
Contributions to the Fund would not be subject to U.S. gift 
tax unless someone other than the donor is designated as the income 
beneficiary. In such event, only the value of such income interest 
would be subject to gift tax, and even this tax could be avoided if 
the donor reserved the nght to cancel the income interest by his will. 
In summary, some of the advantages to a donor of contributing 
to a Pooled Income Fund might be: 
1. Immediate income tax deduction for the present value of 
the Society’s remainder interest. 
2. Reservation of income for the life of the donor (and possibly 
his spouse or another person). 
3. Nonrecognition of long-term capital gain on appreciated 
property contributed to the Fund. 
4. Professional investment management and diversification. 
5. Elimination of contributed property from the donor’s tax- 
able estate for U.S. estate tax purposes and possibly an in- 
creased estate tax marital deduction. 
These advantages might enable a donor to contribute larger 
amounts during life than might otherwise be possible, thereby 
creating a significant memorial associating his name with the 
[lino1ts Audubon Society. 
This message is intended only to summarize briefly the opera- 
tion and advantages of a Pooled Income Fund. As each prospective 
donor’s financial and tax circumstances might be different, he is 
urged to consult his attorney, accountant or investment adviser to 
determine if contributions to such a Fund would be advisable in his 
particular case. 
The Illinois Audubon Society will be in need of funds in the 
near future if we are to venture into an extended sanctuary pro- 
gram and make it a success. We believe that a Pooled Income Fund 
has significant advantages for both the /.4.S. and any donors who 
may be interested and qualify to become part of the program. Per- 
sons interested may obtain further details from our J/.A.S. office. 
Participants do not need to be members of the /linots Audubon 
Society. 
I wish to thank Mr. David Sterling for outlining this program 
and preparing the material. 
—Peter B. Dring 
Willow Springs, Ill. 60480 
POs Bom92 
