Do not routinely question the relationship between the non-profit association and
for-profit entities used by the pooled trust.
However, before excepting a pooled trust under section 1917(d)(4)(C), review the trust
for any provisions that indicate the non-profit association has not retained sufficient
authority over the pooled trust to meet the criteria in section 1917(d)(4)(C).
For example, a pooled trust may not meet the criteria in section 1917(d)(4)(C) if
the trust includes a provision that allows the for-profit entity to determine whether
to make discretionary disbursements from the trust.
Refer the pooled trust document to the regional office for evaluation if it appears
that the non-profit organization may not have sufficient control over the management
of the trust for the trust to be excepted under section 1917(d)(4)(C).