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NFP of NOTE: Indiana Council for Economic Education

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Not-For-Profit of Note


Indiana Council for Economic Education
615 W. State St., West Lafayette, IN 47907
Phone: (765) 494-8545
Fax: (765) 496-1505
Web site: www.econed-in.org
Founded: 1954
Paid employees: five
Highest-paid staff member: Harlan R. Day, executive director, $83,075 (paid by Purdue University)
Top volunteers: Tony Fiorillo, executive committee chairman; Robert Glazier, vice chairman; Jeff Smith, treasurer

MISSION

Increase economic literacy in Indiana with the help of business, education, government and agriculture leaders. Through 11 university centers, provide K-12 teachers with knowledge and curriculum tools that will allow effective and interesting instruction.

MANAGEMENT

Harlan Day, executive director; Beverly Brewer, director of development; Jeff Sanson, director of programs

BOARD OF DIRECTORS

David K. Baker
Greg Bernhardt
Patty Brademas
Joe Breedlove
Jim Butcher
John Conant
Greg Cutchin
Miriam Smulevitz Dant
Anika Davis
John Demerly
Lisa Ellison
Chris Fenner
Tony Fiorillo
Paul Freeman
Robert Glazier
Joe Guilfoy
Peter D. Harrington
Tom Harrison
Charles Hibberd
Stanley Holliday
James Joven
Ryan Kitchell
Linda Lentz
Chris Naylor
Brooke Palmer
Marsha Reynolds
Kevin Schmidt
Bradley Skolnik
Jeff Smith
Jeff Spalding

PROGRAMS

Indiana Stock Market Game: Used in grades four through 12 to teach social studies, math, business or language arts. Also used as an extracurricular activity.

Graduate Credit Programs: Each summer, the ICEE sponsors intensive graduate credit workshops for K-12 teachers. These workshops cover a variety of economic topics and take place at the ICEE's University Centers. The ICEE offers full or partial tuition scholarships to those attending the workshops through contributions and grants.

Economics Challenge: Annual quiz-bowl-style competition for Indiana high school teams. Teams go on to national competition.

FUND-RAISER

none

FINANCIAL PROFILE

2008 income: $527,686
2009 projected income: $450,800

2008 expenses: $407,972
2009 projected expenses: $492,429

2008 assets: $119,714

Fiscal year begins: July 1

2008 income

Government: 47 percent
Corporate contributions: 19 percent
Foundations: 15 percent
Educational product sales: 6 percent
Other: 6 percent
National council programs: 4 percent
Personal contributions: 3 percent

2008 expenses
Salaries and fringes: 26 percent
Graduation tuition expense: 26 percent
Other: 16 percent
Curriculum materials: 9 percent
Administration: 9 percent
Conference arrangements: 9 percent
Stock market and game fees: 5 percent

___

Information provided by the Indiana Council for Economic Education. Profiled organizations must be based in or serve the Indianapolis area, must have Internal Revenue Service tax-exempt status, and must be willing to provide IBJ with detailed financial information.


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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

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  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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