Local organization that helped other not-for-profits attributes June 30 closing to economic downturn.
The foundation, founded by Dr. Chuck Dietzen, will absorb the Mercy Foundation, started by Dr. Mercy Obeime, in July.
The not-for-profit on Monument Circle announced its initiation fees will be waived for all chamber members.
The group, which rang up more than $3 million in debt before changing course in 2008, had been operating at a deficit for
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.
Some—but not all—not-for-profit executives took pay cuts in 2008, according to the Chronicle of Philanthropy’s
annual salary survey.
The Carmel Performing Arts Foundation has appointed its first independent board members, Rollin Dick and Rosemary Waters.
In downtown Indianapolis, two local artists will receive free studio space in the Stutz Building
for the next year.
Many boards of directors have not taken to heart their responsibilities, opting instead for the easier route of trusting management and operating personnel.