Philanthropy

Carmel's performing arts center hiring key staff

January 9, 2010
 IBJ Staff
With a year to go before completion of a 1,600-seat concert hall, Executive Director Steven Libman added Jeremy Hatch as development director.
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Simon family fight breaks out over billionaire's fortune

January 8, 2010
Greg Andrews
Melvin Simon’s daughter Deborah filed court papers Thursday afternoon charging her father was coerced into approving a new estate plan in February 2009 that dramatically increased the amount of his fortune going to her stepmother, Bren.
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Humane Society expects to finish 2009 in the black

January 6, 2010
Kathleen McLaughlin
The group, which rang up more than $3 million in debt before changing course in 2008, had been operating at a deficit for six years.
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Volunteers sought to host dinners

January 2, 2010
Central Indiana residents are being invited to host informal dinners for small groups of foreign visitors.
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NFP of NOTE: Net Literacy

January 2, 2010
 IBJ Staff
Net Literacy increases computer access, computer and Internet literacy, and Internet safety awareness while providing student volunteers job skills, life skills, and an opportunity to participate in service to their community.
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Fund-raisers a little more optimistic as 2009 ends

January 2, 2010
 IBJ Staff
People who raise money for a living are more optimistic about their prospects now than they were six months ago, reports the Center on Philanthropy at IUPUI.
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IUPUI dedicates engineering lab funded by Carrier Corp.

January 2, 2010
 IBJ Staff
Over the past four years, Carrier has donated $71,000 for the purchase of equipment and software that will allow mechanical engineering students at IUPUI to do more advanced work.
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School foundations step up to pay for programs as funding dries upRestricted Content

January 2, 2010
Kathleen McLaughlin
The Washington Township Schools Foundation on the north side is among those that wants to raise money for buildings and other high-cost needs.
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Ruth Lilly remembered for 'selfless' giving

December 31, 2009
Andrea Muirragui Davis
Lilly, 94, who died Wednesday, gave away hundreds of millions of dollars of her fortune during her lifetime.
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Eli Lilly and Co. heiress Ruth Lilly dies at 94

December 31, 2009
Associated Press
Over the course of her life, the last surviving great-grandchild of pharmaceutical magnate Eli Lilly gave away much of her inheritance.
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Expected flurry of charity mergers fails to materialize

December 26, 2009
Kathleen McLaughlin
Observers offer various explanations for the lack of mergers, including that staff and budget cuts have left many not-for-profits without the manpower or time for due diligence.
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Symphony ousts maestro, reports historic budget gap

December 26, 2009
Kathleen McLaughlin
The Indianapolis Symphony Orchestra experienced a year of financial and leadership shocks, as it reported a $2.8 million budget shortfall and abruptly dismissed Music Director Mario Venzago.
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Nature Conservancy nets another $1M for building

December 21, 2009
Kathleen McLaughlin
Lilly Endowment will give The Nature Conservancy in Indiana $1 million for its headquarters building, possibly reducing the need for extensive borrowing.
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Holiday Wish List

December 19, 2009
 IBJ Staff
Here is a list of Indianapolis-area not-for-profit organizations and the things each needs most.
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$60M Lilly Endowment grant to fund IU physician research

December 15, 2009
Peter Schnitzler
Indiana University, which has received nearly $600 million from the endowment over the last three decades, will leverage the new gift to increase its scientific discoveries and commercialize life science innovations.
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Cash-strapped mayors may tap owners of tax-exempt propertyRestricted Content

December 12, 2009
Kathleen McLaughlin
A group of mayors led by Tom Henry of Fort Wayne and Greg Ballard of Indianapolis is seeking new sources of revenue to replace the millions they’ll lose because of property tax caps.
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Holiday Wish List

December 12, 2009
 IBJ Staff
Here is a list of Indianapolis-area not-for-profit organizations and the things each needs most.
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Parks Foundation gets $7.3M Lilly Endowment grant

December 10, 2009
Scott Olson
Lilly Endowment Inc. has awarded the Indianapolis Parks Foundation a $7.3 million grant to fund improvements that include a new pool at Bethel Park on the near-southeast side.
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Holiday Wish List

December 5, 2009
 IBJ Staff
Here is a list of Indianapolis-area not-for-profit organizations and the things each needs most.
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Airport adds events to draw more people, revenue for vendors

December 5, 2009
 IBJ Staff
One of the first things new airport CEO John Clark said he wanted to do was to squeeze more use—and revenue—out of the new airport terminal’s Civic Plaza space.
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Lilly Endowment gives International Center $500,000 for 2010

December 5, 2009
 IBJ Staff
The not-for-profit will use the money to fund existing programs, such as the U.S. State Department's International Visitor Leadership Program, and begin new ones.
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Carroll Award winner Dodson helps less fortunate weather adversity

December 5, 2009
Sam Stall
Entrepreneur earmarks 10 percent of profits for charity, honors well-run not-for-profits.
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NFP of NOTE: Little Red Door Cancer Agency

December 5, 2009
 IBJ Staff
Little Red Door Cancer Agency is committed to serving people with cancer in the greater Indianapolis area and surrounding counties who lack financial means or adequate insurance.
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Indiana Historical Society lands $2M for new exhibits

December 4, 2009
Kathleen McLaughlin
Dubbed the "Indiana Experience," the exhibits represent the first ticketed tourist attraction at the society's headquarters building.
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Visions for ailing City Market include arts venue, YMCA

December 3, 2009
Riley Area Development Corp. is pitching the idea of building a performing arts center in the City Market. The YMCA of Greater Indianapolis, meanwhile, is in talks with the city about building a full-service fitness center on the site.
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  1. Apologies for the wall of text. I promise I had this nicely formatted in paragraphs in Notepad before pasting here.

  2. I believe that is incorrect Sir, the people's tax-dollars are NOT paying for the companies investment. Without the tax-break the company would be paying an ADDITIONAL $11.1 million in taxes ON TOP of their $22.5 Million investment (Building + IT), for a total of $33.6M or a 50% tax rate. Also, the article does not specify what the total taxes were BEFORE the break. Usually such a corporate tax-break is a 'discount' not a 100% wavier of tax obligations. For sake of example lets say the original taxes added up to $30M over 10 years. $12.5M, New Building $10.0M, IT infrastructure $30.0M, Total Taxes (Example Number) == $52.5M ININ's Cost - $1.8M /10 years, Tax Break (Building) - $0.75M /10 years, Tax Break (IT Infrastructure) - $8.6M /2 years, Tax Breaks (against Hiring Commitment: 430 new jobs /2 years) == 11.5M Possible tax breaks. ININ TOTAL COST: $41M Even if you assume a 100% break, change the '30.0M' to '11.5M' and you can see the Company will be paying a minimum of $22.5, out-of-pocket for their capital-investment - NOT the tax-payers. Also note, much of this money is being spent locally in Indiana and it is creating 430 jobs in your city. I admit I'm a little unclear which tax-breaks are allocated to exactly which expenses. Clearly this is all oversimplified but I think we have both made our points! :) Sorry for the long post.

  3. Clearly, there is a lack of a basic understanding of economics. It is not up to the company to decide what to pay its workers. If companies were able to decide how much to pay their workers then why wouldn't they pay everyone minimum wage? Why choose to pay $10 or $14 when they could pay $7? The answer is that companies DO NOT decide how much to pay workers. It is the market that dictates what a worker is worth and how much they should get paid. If Lowe's chooses to pay a call center worker $7 an hour it will not be able to hire anyone for the job, because all those people will work for someone else paying the market rate of $10-$14 an hour. This forces Lowes to pay its workers that much. Not because it wants to pay them that much out of the goodness of their heart, but because it has to pay them that much in order to stay competitive and attract good workers.

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  5. It is sad to see these races not have a full attendance. The Indy Car races are so much more exciting than Nascar. It seems to me the commenters here are still a little upset with Tony George from a move he made 20 years ago. It was his decision to make, not yours. He lost his position over it. But I believe the problem in all pro sports is the escalating price of admission. In todays economy, people have to pay much more for food and gas. The average fan cannot attend many events anymore. It's gotten priced out of most peoples budgets.

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