CICF believes in the power of its Ben Franklin Funds to transform Indianapolis in 2116. If the two $100,000 Ben Franklin Fund endowments, built from donations of $1,000 and $100, are invested for 100 years, CICF estimates they will be worth $100 million each and will distribute $5 million (5 percent) annually to benefit the city of Indianapolis in 2116.
The Denver Hutt Legacy Foundation was formed in the weeks after the death of young entrepreneurial leader Denver Hutt to continue her legacy and vision of striving to make Indianapolis an even better city. Denver, who was only 28 when she passed away, never rested on past successes, and instead, always focused on the next great idea that would redefine community, industry, or placemaking.
The Indianapolis Foundation has created two $100,000 “Ben Franklin” funds in celebration of its 100th anniversary. The funds are modeled after two created by Benjamin Franklin shortly before his death in 1790 for the cities of Boston and Philadelphia. Franklin gifted 1,000 British pounds to each city; Franklin specified that the funds were to be used for public works and invested and untouched for 200 years before being accessed. Through compound interest the funds grew to $5,000,000 for Boston and $2,500,000 for Philadelphia and grants from the funds continue be made today.
Because he was a modest man, it is not widely known that one of Central Indiana’s most brilliant businessmen and philanthropists was also a seasoned campaigner against injustice. Gustave Efroymson was a pillar of the Jewish community, the owner of two downtown department stores, and president of the Real Silk Company. He also took on loan sharking, and the Klan, and got the better of both of them.
Be like George. Be in. When architect Alexander Ralston designed the original mile square plat for Indianapolis, he neglected to include parks. As Indy’s population exploded in the late 19th century, the lack of parks became a glaring deficiency. So city officials embarked on a plan to implement a citywide park system, but politics… Continue reading.