What is the history of The Pi Fund?

 

The Pi Fund was founded in December 2002 by Renowned Utah Estate Planning Attorney Lee McCullough as a way to help his clients get the best tax advantages when selling their businesses (or any appreciated assets)  . The Pi Fund is a donor advised fund qualified with the Internal Revenue Service as a 501(c)(3) public charity.  Since its inception, The Pi Fund has received over $80,000,000 in contributions in cash, privately held business interests, public traded stock, real property, life insurance, charitable remainder trust terminations and other assets.  To date, The Pi Fund has distributed more than $50,000,000 to local and national charities including the American Red Cross, Boy Scouts, The Road Home, Utah Food Bank, Thanksgiving Point, JDRF, The Ronald McDonald House, The Odyssey House, Operation Underground Railroad,  Huntsman Cancer, Gifted School of Music, Cystic Fibrosis Foundation, Brigham Young University and the University of Utah.  The Pi Fund has also made distributions to support charitable activities overseas with Doctors Without Borders, Operation Smile, Tifie Humanitarian and Kids International Ministries.

 

How does The Pi Fund work?

 

As a donor advised fund, The Pi Fund receives charitable contributions from various donors which are accounted for internally as the donor’s separate charitable fund..  At any time the donor can request that all or a portion of his or her account be distributed to one or more other 501(c)(3) charitable organizations.  The Fund will then review the request and, provided it is for charitable purposes and to a qualifying charity, make a distribution to the named charity(ies).  Such donations can be made in the name of the donor or anonymously.  Undistributed assets may be invested in a variety of investments recommended by the donor, though the Fund retains ultimate discretion on the type and manner of investments.  Any earnings from a donor’s account are credited to that account and increase the potential for future distributions.  Fees and expenses for running the Fund are outlined on our fee schedule and are taken from the donor account each year.

 

 

What kinds of assets could I contribute?

 

Although The Pi Fund accepts all kinds of charitable contributions, we specialize in the following types of assets:

 

  • Interests in closely held businesses
  • Publicly traded stock
  • Real Estate
  • Tangible personal property (vehicles, jewelry, artwork)
  • Charitable Remainder Trusts
  • Assets held in private foundations
  • Life insurance

Can I receive any benefit from contributions?

 

Donors cannot receive any benefit from their charitable contributions and distributions can only be made to other qualified charitable organizations.