Gov. Mike Braun of Indiana is asserting his stance on nonprofit transparency with a new executive order aimed at organizations operating closely with the state. As reported by FOX59, this directive specifies that state-affiliated nonprofits such as the Indiana Economic Development Foundation and the Healthy Hoosiers Foundation now must operate under "full transparency".
In effect, these entities, which include foundations linked to various state government agencies, will be required to divulge comprehensive details about their financial operations. With the governor's signature, the Indiana Economic Development Foundation (IEDF), which works alongside the Indiana Economic Development Corp. (IEDC), has been spotlighted. Previously holding its donor information more closely, these foundations will no longer have that luxury, according to a piece by Indiana Capital Chronicle.
The IEDC, established in 2005, alongside its nonprofit counterpart the IEDF, has acted as a public-private partnership with a measure of secrecy around the contributions made by donors. The IEDF's history of funding for governors' international economic excursions makes the new mandate for financial disclosure particularly relevant and prompting the review of prior nondisclosure practices.
Yet, while some donors, such as the state's top utilities, are named on the IEDF's website, the specific figures attributed to their generosity have remained elusive. As IndyStar details, these new orders are part of Gov. Braun's strategy to "spreading economic development efforts across the four corners of our state," promising a fresh approach to delineating the state's economic regions to align with local assets and strengths.
Gov. Braun stated, "My administration is committed to spreading economic development efforts across the four corners of our state, and one important way we're doing that is starting from scratch on the map of our state's economic development regions to better reflect each area's strengths," per IndyStar's coverage. This holistic approach indicates a blend of transparency as well as strategic geographic planning as foundational elements of Indiana's economic development policy.
