Investment in the Future
When you use your charitable gift to establish an endowment, the gift is invested with two goals: to make the principal grow faster than inflation and to provide income for the designated program. The principal is never touched, and any earnings over a certain amount—usually five percent—are channeled back into the fund to grow it. Well-managed endowments can generate income indefinitely and therefore allow donors to leave a legacy.
The Cornerstone Society recognizes those donors who have made the extraordinary contribution of at least $1,000 to the Indiana Bar Foundation Endowment. While unrestricted gifts to our endowment provide us with the most flexibility to allocate the funds where the needs are greatest, we also understand that many donors prefer to designate how their gifts are used. Therefore, we have also established several endowed funds that are restricted to mission-centered purposes. These restricted endowed funds include law-related education, access to justice, and initiatives to improve the legal system.
The Foundation also encourages donors to consider sponsoring named fund initiatives. These funds may be created by individuals, firms or others interested in promoting the advancement of justice. These named funds direct assets to the Foundation in the form of cash or securities, bequests, gifts of real property, life insurance, or by life income arrangements. All of these named funds will be publicly designated and grants may be awarded when the fund reaches a minimum of $10,000. Annually, the distinguished roster of named funds will be published in the Annual Report of the Foundation. All donors to the Foundation by bequest or life income arrangement will be honored as Legacy members of the Cornerstone Society.
If you are interested in making a gift in the form of a bequest to the Indiana Bar Foundation, below is the suggested language.
"I give, devise, and bequest the (sum of $________/ percentage of ____% / residue of my estate) to the Indiana Bar Foundation, a not-for-profit corporation with principal offices located in Indianapolis, Indiana, to be utilized for the benefit of said Foundation's charitable mission."
Lifetime gifts to the Foundation endowment may be included in the following categories:
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• Visionaries
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$100,000 +
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• Founders
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$50,000 - $99,999
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• Benefactors
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$25,000 - $49,999
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• Sponsors
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$10,000 - $24,999
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• Partners
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$1,000 - $9,999
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As a member of the Cornerstone Society of the Indiana Bar Foundation, each contributor may designate which Cornerstone fund he or she would like to support. The various Cornerstone funds are listed below:
Unrestricted
Provides unrestricted support for Foundation operations and initiatives. These funds allow the Foundation to respond to changing priorities, opportunities, and needs as they arise.
Access to Justice
Provides support for innovative approaches for legal assistance to the indigent and assists people with legal remedies when necessary to meet basic human needs such as food, shelter and healthcare.
Indiana Lawyers Alliance Fund
Established as a legacy to the organization that operated for 46 years, the fund provides scholarships to law students at any of the four ABA-accredited law schools in Indiana.
Law-Related Education Fund
Provides funds for school-based and other law-related education programs for such topics as citizen rights and responsibilities, the legal system, government and similar issues.
Law School Scholarship Fund
Provides support for law school scholarships at the four Indiana law schools: Indiana University - Bloomington; Indiana University - Indianapolis; Valparaiso University; and the University of Notre Dame - South Bend.
J. Philip & Barbara Burt Access to Justice Fund
Established by Mr. and Mrs. Burt, the fund assists the Indiana Pro Bono Commission and its 14 districts to carry out their missions as described by Rule 6.6 of the Indiana Rules of Professional Conduct as established by the Indiana Supreme Court. The fund also supports the Foundation's access to justice efforts.
Judicial System Improvement Fund
Provides funding to support initiatives to study or support programs in order to improve the effectiveness of the court system and the judicial system as a whole.
Shirley A. Shideler Memorial Fund
Established to honor Shirley Shideler, a partner at the Indianapolis law firm of Barnes and Thornburg and the first female president of the Indiana Bar Foundation, this fund has been designated as unrestricted to provide maximum flexibility.
