Lifelong Giving Turned into Strategic Philanthropy: Ann W. King’s Journey

Only one word can sum up a life like Ann W. King’s: variety. In her passions, professions and painting, Ann is always looking to diversify the targets of a sharp and strategic mind. She’s served as a political campaign director, CEO of Brebeuf Jesuit Preparatory School, she even held a position at the Australian Stock Exchange. She is now the owner of (and major artist at) A King’s Art Studio and Gallery located in “the village” in Zionsville.

Is there a unifying theme?

“I like people,” she said when we spoke with her in September at her art gallery. “I find them challenging, inspirational and unique.”

Born in a small, eastern Indiana town to a family of modest means, Ann first learned how to give without money. For that, she credits her parents, her church and the Y-Teens, a YWCA youth program she joined early on.

“I remember a song we sang in the Y-Teens, ‘No Man Is an Island.’ It had the lyrics: No man is an island / no man stands alone / each man’s joy is joy to me / each man’s grief is my own.”

When it comes to continuing that philanthropic habit as a fundholder at the Indianapolis Foundation, Ann remains as strategic and diversified as ever. Three separate funds parcel out her philanthropy in three unique ways:

• A Donor-Designated Fund continues a tradition she began with her late husband (J.B. King) giving to six local, charitable organizations. “J.B. and I set focus areas of faith, education, culture, and health. So, it was important to me that these specific groups continue getting our support during my lifetime and long after I’m gone. That’s possible through a designated fund.”
• A similar goal motivated Ann and her children to start the J.B. King Family Foundation Fund, an endowed Donor-Advised Fund (DAF). Appropriately, the surviving Kings take a family approach to grantmaking from this fund; decisions are made annually by Ann and her three children, with her daughter Deborah at the helm. This fund honors J.B.’s life as a senior vice president and general counsel for Eli Lilly and Co. There, he became interested in innovative medicines and treatments for Alzheimer’s and healthy brain aging, which this fund supports.
• In 2020, the Collaborative created IMPACT Central Indiana, an LLC engineered to make large social-impact investments in for-profit companies. Ann joined an effort to use the unique structure of this fund offering to address food deserts in Indianapolis. “The other thing that attracted me [to IMPACT] was that these are low-interest loans. They’re forgivable, but when they are paid back, the money gets used again for a different project. It keeps being useful.”

Asked why she chose to work with a community foundation over a traditional financial institution when getting into philanthropy, Ann cites the reputation the Central Indiana Philanthropic Collaborative had built up in the region.

“My son and daughter-in-law live here, and both mentioned the community foundation when we talked about getting into philanthropy. They said, ‘They do so much good for the community and can make your gift go on and on.’”

Ann, who lives in downtown Indianapolis, also said she appreciates the proximity and personal touch from her advisors over the years.

For the last several years, that has included Robin Elmerick, Senior Director of Effective Philanthropy at the Central Indiana Community Foundation.

“Alongside the yearly review, there were always lots of interim touch points to let me know what was going on. She meets me up here [in Zionsville] or downtown and keeps me updated on the impact these funds make in the community.”

For Ann, variety isn’t just the spice of life, it’s the method to a more broadly effective philanthropic strategy.

If you’d like to learn how our variety of philanthropic funds and services can increase the impact of your giving, please contact Jennifer Turner CICF Vice President of Philanthropy: Jennifert@cicf.org | (317) 634-2423 ext. 513