Thursday, April 11, 2024
TALKING SHOP
Shelbyville Central Schools Business Manager Michelle Babcock presents last week at the Indiana Association of School Business Officials Treasurer’s Workshop at the Embassy Suites Plainfield. Babcock is a member of the professional organization for school business affairs such as finance, accounting, purchasing, maintenance and operations, human resources, facilities and grounds, food nutrition, technology, and transportation. | submitted
Foundation Heralds New Impact Investing Program
The Blue River Community Foundation (BRCF) is accustomed to making an impact. The Blue River trailhead, Shelby County YMCA warm-water pool, Early Learning daycare facility and Shelby County Players theatre under construction are all examples of BRCF grants at work.
“Historically, our way of impacting the community and our financial contribution to the community has always been through grants and scholarships,” Jennifer Jones, BRCF executive director, said.
But a new Impact Investing program will allow the Foundation to give larger sums to qualified projects and regain the original investment along with a return.
“We’re not after a huge financial profit, but we want our money back,” Jones said. “And what we really want is to have a large social impact.”
In the traditional process, BRCF oversees endowed funds, with the proceeds benefiting the community while the principal remains untouched. The money generated from the original investment is granted at a 4.5 percent rate of the balance, factored over the previous 20 quarters.
“That’s so we’re not giving out more because we made more that year or less because we made less,” Jones said. “We stay at (4.5 percent) because we’ve found over time that’s the sweet spot to ensure the fund is always growing.”
But with Impact Investing, BRCF will take a portion of earnings and instead invest it locally in a project, likely working with an underwriter.
“We dubbed it bridging the gap,” Jordan England, Grants and Nonprofit Relations Director, said. “It’s where no one else can give or is willing to give, maybe on the last leg of a project.”
A committee is currently in place to oversee the process. Although the traditional competitive grant cycle is limited to $50,000 requests, Impact Investing will start at that number and potentially go higher. The program will also offer low interest rates and possibly help with related areas, such as formalizing a business plan.
“We’re not competing against the products financial institutions offer. We are adding to those products,” England said.
The overarching goal is addressing community challenges.
“The investment could even be to a for-profit business project or program, if they’re bringing something to our community that we feel raises the quality of life for our residents,” Jones said.
Just like the grant process, Impact Investing is based on individual funding.
“This is a way for donors who are interested in economic development to give to projects and receive tax benefits,” Rita Barnes, Finance Director, said. “Instead of investing in Wall Street, you could invest in Main Street.”
Questions about impact investing can be directed to jjones@blueriverfoundation.com or by calling the BRCF office at 317-392-7955 and speaking to Jennifer, Rita or Jordan.
NOTEBOOK:
Two days remain to get tickets to next week’s Shelby County Republican Lincoln Day Dinner, set for Thursday, April 18, at Horseshoe Casino, Trackside Clubhouse. The program will feature a gubernatorial candidate forum with Brad Chambers, Lt. Gov. Suzanne Crouch, Eric Doden and Curtis Hill confirmed to be in attendance and Sen. Mike Braun a possible attendee, depending on his schedule. Congressman Greg Pence, candidates for the open U.S. House of Representatives 6th District seat and various state officials have also confirmed attendance. Doors open at 5:30 p.m. with dinner at 6:30 p.m. and the program at 7 p.m. Contact Shelby County Republican Party Chair Chris King, cking@shelbycounty.gop, by tomorrow to reserve a seat. Individual tickets are $50.
NATIONAL NEWS: Meatpacking can be a dangerous business for workers, and the large companies that control the industry have long sought to automate the more tedious and physically taxing elements of the labor. A new Tyson chicken processing plant in Virginia cost $300 million to build out, and can produce 20 percent to 30 percent more chicken nuggets, strips and wings with 250 fewer workers, capable of producing 4 million pounds of chicken products per week. In 2023, meat processors spent 5 percent of their capital investments on advanced automation, much higher than in the past, in the quest to make a robotic butcher. (Wall Street Journal/Numlock)
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This Day in Shelby County History
2014: Swifty Gas Station, the station known for giving cash-paying customers three cents off per gallon and being a full-service station, closed. The company’s founder, who owned 180 gas stations, had died in 2013.
2004: Morristown reinstituted a curfew for young people. In January, a federal appeals court had declared the state’s curfew law invalid. But the Indiana state legislature revised the law to say that a police officer could detain a juvenile for curfew violation if “after making a reasonable determination…the juvenile had violated the curfew law.” Morristown attorney Mark McNeely said just exactly what “reasonable determination” meant was unclear.
1994: Shelbyville High School senior Chasity England was named to the 1994-95 Purdue University cheerleading squad. She was, as one might expect a cheerleader to be, excited. “I was like, ‘Oh my gosh!” she told The Shelbyville News. England, the daughter of Jim and Evelyn England, was one of three freshmen to make the team. England credited Shelbyville Middle School teachers and sponsors Penny Tindall and Karen Fenton for helping her with techniques.
1984: “The electronic church has come to Shelbyville,” The Shelbyville News reported. Pastor Rudy Klare, operating from an East Washington Street storefront, The Lighthouse Christian Fellowship, began broadcasting on local cable TV three times a week. “It’s impossible for me to go all over town and preach,” Klare, 33, said. “People turn their television dials on and there we are, right in their living rooms.” The church had paid $4,500 for video equipment and lighting. They then paid $600 a month to purchase air time. “Opponents to religious telecasts say that viewers who are attracted to a television evangelist can decide to stay home and watch television in lieu of attending church. And, they feel that television evangelism depersonalizes religion and packages it into clichés and simplified solutions for problems in their lives,” the article said.
1974: Flags were lowered to half-staff throughout the county in memory of Judge James Emmert, who had passed away. Mayor Jerry Higgins and Commissioner James Williams had ordered the flags to be lowered.
1964: Kennedy Car Liner & Bag Co. officials changed the name to KCL Corporation, placing the company in a more flexible position to do business on products other than car liners and bags. The announcement was made at the company’s 51st annual meeting held at its Carriage House in Shelbyville. Some of the new products being developed were liquid box liners designed for the dairy industry, broken limb splints for surgical and hospital outlets, minigrip and zip-lip bags.
1954: Beverly Gaunce, 27, was hired to be a juvenile officer, police woman, file clerk and radio operator. In addition to her general police duties, she would be in charge of handling all juveniles involved with city law enforcement and do the police department filing and typing.
1944: Wray Cherry, a Shelby County native and student at Indiana University, was named to the initial IU softball team.
Mr. and Mrs. Grover Henderson, 408 West Mechanic St., received a card from their son, Sgt. Clifford Henderson, a German prisoner of war, stating he was in good health and was “being well treated.” Henderson had originally been listed as “missing in action” but the mother of another soldier had passed word to the Hendersons that their son had been spotted following a raid over France.
1934: The Shelbyville Post Office restarted deliveries three times a day in the business district. Postmaster George Young said economic cutbacks had led to the temporary reduction in deliveries.
Shelbyville was selected to host the state softball tournament. Alfred Campbell and H.T. McCullough, both of Shelbyville, served on the state committee that made hosting decisions.
1924: The city dump, located between city cemetery and Blue River, caught on fire. Heavy winds meant nearby houses were in danger as the fire department worked. A fence that caught on fire was removed from the ground so firemen could extinguish it without risking other property. The fire was apparently out in the morning but was rekindled in the afternoon.
1914: Scott Forrest was cut with a knife during a fight with Charles Parker, both who lived north of Shelbyville. Forrest said he was walking home when Parker came along in a buggy, called him “a vile name” and then jumped out and cut him. Dr. Wells of Fairland and Dr. L.C. Sammons of Shelbyville treated the injury.
OBITUARIES
Norman D. Corley, 93, of Shelbyville, passed away Wednesday, April 3, 2024 at Major Hospital. Born July 4, 1930 in Shelbyville, he was the son of Chester H. Corley and Alice M. (Herndon) Corley. He married Mollie Corley, and she preceded him in November 2002. Survivors include a daughter, Linda Goodman of Shelbyville, and a niece, Charlene Thurston of Shelbyville. He was preceded in death by his parents; his spouse; a son, Michael Corley; two daughters, Nancy and Colleen; two sisters and five brothers.
Mr. Corley was a lifelong resident of this area and attended Town & Country Christian Church. He was a self-employed carpenter for many years and was a US Army Korean War veteran, attaining the rank of Sgt. Norman loved fishing and enjoyed tinkering with and restoring old clocks.
Graveside services will be 10 a.m. on Thursday, April 11, 2024 at Miller Cemetery. Online condolences may be shared at glennegeorgeandson.com.