USA Funds’ new tack: Bet millions on education startups
USA Funds had long been preparing to adopt a new mission after decades as the nation’s largest student loan guarantor.
Philanthropy
Articles
Lilly Endowment giving IU medical school $25M to fund life sciences initiatives
The grant from the Indianapolis-based philanthropic giant is aimed at bolstering Indiana’s stature as a life sciences research hub.
Indy Pride hires LGBT group’s first executive director
Christoper Handberg will begin his role after a period of growth for the not-for-profit community group.
UPDATE: Pope taps Evansville bishop to become Indy archbishop
Monsignor Charles Thompson replaces Cardinal Joseph Tobin, whom Pope Francis moved to Newark, New Jersey, last year.
Women spur change with $100K gifts
Impact 100 of Greater Indianapolis has more members this year than ever before, it’s up to nearly 700 alumni members, and it has awarded $1.76 million since its 2006 founding.
Lumina kicks venture capital arm into high gear
Over the past year, Indianapolis-based Lumina Foundation has aggressively moved in a novel direction for a grant-making not-for-profit, funneling more of its $1.2 billion endowment into venture capital.
Charities caught in Celadon founder’s estate dispute
Several local not-for-profit and community groups are caught in a family dispute over the $31 million estate of Stephen Russell, the Celadon Group Inc. co-founder who died last year at age 76.
Women’s Fund involves nine area communities in new mental health initiative
For the first time since its founding in 1996, the Women’s Fund of Central Indiana is supporting an initiative that’s not exclusive to females.
Bosma Enterprises files lawsuit over VA contracting changes
Indianapolis-based Bosma Enterprises and other groups on Wednesday sued the Department of Veterans Affairs, alleging the agency ignored a long-standing law when it changed contracting rules that give jobs to the visually impaired. Bosma said it stands to lose $36 million in annual revenue.
Lilly Endowment assets ebb in 2016 as it grants $452.8M
After several years in which the value of its assets swelled, philanthropic giant Lilly Endowment Inc. watched its coffers shrink 12.7 percent in 2016 from about $11.8 billion to $10.3 billion.
Humane Society hires Stolen as new chief executive
Steven Stolen, who has a lengthy resume in the arts, education and not-for-profit fundraising, begins the new role June 1.
Kiwanis’ first major ad campaign seeks to put youthful face on brand
Most people are aware of the Kiwanis Club. Sort of. Precious few know what the 102-year-old organization actually does.
Neighbors raising money to aid potential buyer of Saddlebrook Golf Course
The public course, an anchor for the neighborhood bounding West 56th Street in Pike Township, closed in late 2015 after the previous owner defaulted on a $2.4 million bank loan.
Butler receives $9.4M gift from estate of Indianapolis insurance agent, wife
Butler University said the donation from the estate of Winstan “Bud” Sellick and his wife, Jacqueline, will be shared among athletics, the Lacy School of Business and general university support.
Mind Trust drawing big dollars from national donors
The reputation the education reform group has engendered with its work in the city has spread—and therefore so has its donor base.
Fairbanks Foundation doles out $376,000 to train army of addiction specialists
The money, provided to the workforce initiative Ascend Indiana, will train up to 50 specialists a year targeting Indiana's growing opioid epidemic.
Legacy Fund selects new president
Legacy Fund, an affiliate of the Central Indiana Community Foundation, announced Tuesday morning that Tom Kilian Jr. would become the organization’s next leader.
DeHaan, 74, still pumping massive cash, countless hours into charity
Indianapolis businesswoman and philanthropist Christel DeHaan is nearly 75 years old and she knows that someday she’ll have to slow down. Someday. Not now.
Firm launches program to help not-for-profits fill gaps in know-how
Indianapolis-based Charitable Advisors hopes to help groups that can’t afford one-on-one consulting on issues vital to their operations.
Last year, 31 donors gave $267M in big gifts to Hoosier not-for-profits
Of the top five contributions from Indianapolis-area donors, four set records as the largest the organization had ever received from an individual.