Damar Services scores land, ends fund-raising campaign

  • Comments
  • Print
Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
This audio file is brought to you by
0:00
0:00
Loading audio file, please wait.
  • 0.25
  • 0.50
  • 0.75
  • 1.00
  • 1.25
  • 1.50
  • 1.75
  • 2.00

Damar Services has closed its four-year, $6 million capital campaign, thanks to a donation of eight acres of land from
South Bend-based Holladay Properties.

The property borders Damar’s campus near Ameriplex Parkway and could
become the site for offices and additional residences for Damar clients.

“We’ll carefully look at that
space for its potential for future expansion,” CEO Greg Johnson said.

With a $40 million budget and 740 employees,
Damar serves children who have multiple disabilities. The goal of the recently completed campaign was to increase capacity
and turn away fewer children each year.

A $24 million facilities expansion added 40 beds
to its campus, for a total of 155; expanded its kitchen; and added a gymnasium that doubles as a conference
center.

Damar also has 20 new transitional homes that serve 79 children. Its outpatient mental-health
program has gone from serving 65 children and adults to 300.

Damar, which gets most of its funds through government
reimbursement, has been fully occupied the past eight years or more.

“That demand for services has allowed
us to reinvest in our mission,” Johnson said.

The agency has been constructing buildings
as the fund-raising progressed. Damar also drew on its operating budget and a line of credit. Damar has
$4 million in debt remaining, which Johnson hopes to pay off in four to five years.

Please enable JavaScript to view this content.

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our comment policy that will govern how comments are moderated.

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news. ONLY $1/week Subscribe Now

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Get the best of Indiana business news.

Limited-time introductory offer for new subscribers

ONLY $1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In