Founded in 1916, the Indianapolis Foundation is one of the nation’s first community foundations, established to drive progress, philanthropy, and civic leadership in Indianapolis. Created by Evans Woollen, president of Fletcher Savings and Trust Company, alongside two other banks, the Foundation received its first gift in 1920 and awarded its first grant in 1924. Over the decades, the Foundation has remained a force for good, guided by the words of its first executive director, Eugene Foster:
“ ... to help in making Indianapolis not the biggest city, but rather, the best city in the land. ”
The History and Legacy of the Indianapolis Foundation
The Indianapolis Foundation was established on Jan. 5, 1916, through a resolution of trust initiated by principal founders Evans Woollen, president of Fletcher Savings and Trust Company, and Henry H. Hornbrook, an Indianapolis attorney. This publicly supported philanthropic institution was created to promote the welfare of Indianapolis residents. The foundation’s original trust companies included Fletcher Savings and Trust Company, Indiana Trust Company, and Union Trust Company.
Among the founding trustees were J.K. Lilly Sr., Charles W. Fairbanks, Louis H. Levy, Francis H. Gavisk, Henry W. Bennett, and Henry H. Hornbrook. In 1918, Gustave A. Efroymson replaced Fairbanks as a trustee and became a pivotal leader, guiding the foundation until 1946.
Inspired by a National Movement
The concept of a community foundation originated in Cleveland, Ohio, in 1914, as a way to liberate philanthropic funds from restrictive private trusts that had become outdated. A year later, Evans Woollen Sr., a friend of Cleveland’s community foundation founder, brought this innovative idea to Indianapolis, making the Indianapolis Foundation one of the earliest community foundations in the United States.
The foundation was also the first to implement the multiple trusteeship model, allowing several banks and trust companies to adopt the same resolution of trust. These institutions received and managed charitable gifts and bequests, generating investment income that was then distributed as grants to support the community.
Governance and Grantmaking
While trustee banks managed the foundation’s funds, a six-member board of trustees, composed of private citizens, determined how the income was allocated. From 1916 to today, trustees are selected for their deep knowledge of the community and commitment to the public interest. They serve six-year terms without compensation and may be reappointed. The board is appointed as follows:
- Two members by the Mayor of Indianapolis
- Two members by the Judge of the Marion Circuit Court
- Two members by federal court judges overseeing the Southern District of Indiana
The board meets five to six times a year to govern and provide fiduciary oversight, review grant requests, and establish foundation policies.
Early Impact and Evolution
The foundation’s original mission restricted the use of its funds to charitable purposes that benefited Indianapolis residents. Other than a geographic limitation, there were few restrictions on how the income could be spent.
In 1924, the Indianapolis Foundation awarded its first grant to the Public Health Nursing Association to fund a home visiting nurse for children with disabilities. Three years later, in 1927, the foundation commissioned a landmark study on the role of parks in public health, leading to significant investments in Indianapolis’ park system.
Over the decades, the Indianapolis Foundation has been an early or founding funder of many major nonprofits that now define the city’s charitable sector. It provides grants exclusively to nonprofit organizations, not individuals, and does not fund sectarian or religious purposes. The foundation's high percentage of unrestricted funds allows its board to direct resources toward the city’s most pressing needs.
Growth and Continued Leadership
In 1980, the Indianapolis Foundation relocated from the Hume-Mansur Building to 615 N. Alabama Street, Suite 300, following the demolition of its original location to make way for the Bank One Tower, now known as the Salesforce Tower.
Since its founding, the Indianapolis Foundation has awarded hundreds of millions of dollars in grants to support human services, education, libraries, arts and culture, community and economic development, and environmental initiatives in Indianapolis.
In 1997, the Indianapolis Foundation partnered with the Hamilton County Community Foundation to form the Central Indiana Community Foundation, further strengthening its regional impact.
For over a century, the Indianapolis Foundation has played a crucial role in shaping the city’s philanthropic landscape, providing civic leadership, and ensuring that charitable resources continue to serve the evolving needs of the community.
In 2018, under the leadership of Brian Payne, president and CEO of CICF and president of IF at the time, the Indianapolis Foundation along with CICF affiliates, made a bold and necessary commitment to dismantling systemic racism and advancing racial equity, recognizing the urgent need for intentional, equity-driven philanthropy. The global racial reckoning of 2020 reinforced this resolve, accelerating efforts to create lasting, systemic change.
From 2023-2025, under the leadership of Dr. Lorenzo Esters and a publicly appointed board of directors, the Indianapolis Foundation embarked on a new era as an independent community foundation. Together, they worked to follow our founders’ mission to improve the quality of life for Indianapolis residents.
To that end, Esters led the Foundation in expanding its commitment to racial and economic equity with the launch of the Center for Racial Equity and Economic Opportunity (CREEO). This new initiative builds on decades of work addressing racial and economic disparities, reinforcing the Indianapolis Foundation’s mission to create a thriving, inclusive Indianapolis for all.
Under Esters’ leadership, the Indianapolis Foundation deepened its commitment to racial and economic equity with the launch of the Center for Racial Equity and Economic Opportunity (CREEO) and Equity Imperative 2030—a bold, five-year strategic plan focused on advancing housing, economic, health, and environmental equity across the city.
His vision and investment in the organization were instrumental in sharpening its focus on making Indianapolis the best city in the land for all who call it home. While Esters has since transitioned from his role with the Foundation, his contributions continue to shape its mission and impact.
