"Indianapolis taxpayers pay the non-profit corporation, Indianapolis Downtown, Inc., a yearly subsidy in excess of a million dollars," notes Indy blogger Paul K. Ogden.
He then continues, noting: "an examination of the corporations’ 2007 income tax forms (publicly available due to their non-profit status) shows they pay lavish salaries and are hoarding cash in investments while at the same time begging for handouts from our local elected officials.
"President of IDI, Tamara Zahn, was shown on the 2007 report as making a $185,000 salary, along with an additional $13,284 given to her employee benefit plan for compensation of nearly $200,000. Vice President of Real Estate Development Terrence P. Sweeney makes approximately $88,500 in combined compensation while Vice President of Marking/Communications, Julia Watson, pulls down nearly $108,000. Molly Williams, Vice President of Finance/Administration, makes over $89,000
"The report also lists the compensation of the highest paid employees at IDI. In 2007, Fredric E. Laughlin, Director of Management Services, made approximately $89,000 while Anne Maschmeyer, Beautification Manager, made nearly $70,000. Henry Bosworth, coordinator of the Bike Patrol was paid $51,400."
This Indianapolis Observer is rendered speechless.
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1 comment:
I think the hoarding of millions of dollars in investments is actually the bigger story.
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