IBJNews

Junior Achievement back in black after financial woes

Back to TopCommentsE-mailPrintBookmark and Share

Junior Achievement of Central Indiana says it is off to a fresh financial start.

The organization announced Wednesday morning that it has eliminated nearly $2 million in debt from six different creditors. The agreements were finalized Tuesday, according to CEO Jennifer Burk, who announced the news during a gathering Tuesday evening at the home of supporter Randall Tobias.

“We are renewed and positioned to start an aggressive campaign to expand our programming,” Burk said in a prepared statement.

JA said it will build a “fresh start” fundraising campaign around a "six-figure gift" from Indianapolis-based security systems dealer Defender Direct, Burk said.

JA takes lessons about free markets and financial literacy to area schoolchildren. Fifth-graders usually cap the program with a field trip to BizTown, where they play different government and business roles.

The local Junior Achievement chapter has been a leader in developing hands-on experiences like BizTown, but it has spent recent years in financial and legal turmoil. The not-for-profit suffered major losses in each of the fiscal years 2008 through 2010, when it was in the red by $151,000. The 2010 loss was originally believed to be $389,000 but was revised by an auditor.

Burk said the 2011 fiscal year ended June 30 with a $100,000 surplus. She will unveil more details about the finances and a plan for expanding JA’s reach in local schools at an annual meeting Aug. 18.

A grant from the Connecticut-based Achievement Foundation, which provides suppport to JA organizations, helped eliminate the debt, Burk said. She also credits the assistance of David Lindsey Sr., a past JA chairman who is retired from First Indiana Bank. He’s the father of Defender Direct founder David Lindsey Jr.

The senior Lindsey called Burk in April to offer his assistance. “That was the turning point for us,” Burk said.
 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  2. If you only knew....

  3. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

  4. The facts contained in your post make your position so much more credible than those based on sheer emotion. Thanks for enlightening us.

  5. Please consider a couple of economic realities: First, retail is more consolidated now than it was when malls like this were built. There used to be many department stores. Now, in essence, there is one--Macy's. Right off, you've eliminated the need for multiple anchor stores in malls. And in-line retailers have consolidated or folded or have stopped building new stores because so much of their business is now online. The Limited, for example, Next, malls are closing all over the country, even some of the former gems are now derelict.Times change. And finally, as the income level of any particular area declines, so do the retail offerings. Sad, but true.

ADVERTISEMENT