Indiana Casino Fund Controversy - Tuesday 25th of April 2006

INDIANA – As reported by the Northwest Indiana Times: "The embattled Foundations of East Chicago and East Chicago Second Century Inc. are either loved or hated but cannot be taken for granted.

"The two nonprofit foundations and one private corporation all of which came to life in the early 1990s to funnel millions of dollars from the city's casino revenues into educational and economic development projects are, at least in part, anomalies in the universe of more than 61,000 active U.S. grant-making entities.

"Indiana Attorney General Steve Carter argues the private corporation, Second Century, which provides no public accounting for how it spends its community-development money from the casino, is unique and not in a good way.

"'There is no such relationship anywhere else in the state. It inherently undermines the citizens' trust in city government,' Carter said. 'A contract that diverts riverboat gambling revenues intended for economic development to a private for-profit corporation transgresses ... public policy.'

"Further, Elizabeth T. Boris, director of the Washington D.C.-based Center on Nonprofits and Foundations, said most foundations are set up by families or individuals with a cause and raise money to reinvest in the community. Most do not involve public entities, she said…"

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