Not-for-profits that banked on consistent support from the banker down the street can no longer count on a tip of the top
hat, thanks to ever-larger mergers among institutions that have changed the dynamic of their charitable giving.
Indianapolis businessman Barton Kaufman is auctioning off 26 paintings by notable New York artist LeRoy Neiman. Kaufman plans
to donate the money to Indiana University, where he earned an undergraduate degree in 1962 and law degree in 1965.
Indiana University Kelley School of Business students will market and sell five lots along a strip of white sandy beach on
secluded Dog Island, Fla., as a class project that likely will span
several semesters. Whatever the students get for the land will be all profit.
Restricted gifts have long been common among foundations and corporate funders, but now individuals are getting into the act,
too. Experts say more donors are attaching conditions to their contributions to encourage the recipient to push itself to
achieve.
The charitable organization awarded 84 grants totaling nearly $22 million in 2005. Already this year, it has announced another
$24.5 million in high-profile, high-dollar gifts that will ensure the Fairbanks name isn't forgotten.
