News Releases

FOR IMMEDIATE RELEASEApril 5, 2017 at 8 a.m. EDT MEDIA CONTACT:Francesca Jarosz Brady317-454-8031(O); 317-450-2617(C)fjarosz@voxglobal.com UPDATED STUDY SHOWS HOOSIER SMOKERS’ HEALTHCARE COSTS INDIANA TAXPAYERS $540 MILLION MORE ANNUALLY Richard M. Fairbanks Foundation updates recent study to capture the full cost of Indiana adult smokers on Medicaid INDIANAPOLIS (April 5, 2017)—A new version of a study released last month showing the cost difference between Hoosier smokers and non-smokers on Medicaid reveals that the gap is significantly higher – $540 million – when younger smokers are included in the calculation. The updated report, released today by the Richard M. Fairbanks Foundation, shows that Hoosier taxpayers spend 51 percent more on smokers who receive […]

Purdue University won’t open the doors to its first high school for another five months, but its leaders are already planning for more. Purdue Polytechnic High School will open this fall in Indianapolis with 150 freshmen taking part in a bold experiment: using a new project-based curriculum focused on science and math skills to better serve low-income students and students of color. As part of the Indianapolis Public Schools innovation network, the high school will also have an unusual structure, operating as part of the district but with the flexibility of a charter school. “We really are targeting those kids who are in that middle range, who probably have the […]

For more than 30 years, the Richard M. Fairbanks Foundation operated without a specific vision. Its founder, Indianapolis businessman Richard M. Fairbanks II, who led the organization until his death in August 2000, intentionally did not set strict parameters for how funds should be spent. He established the foundation in 1986 with a $5,000 contribution as a way to keep his estate from either going directly to his children—whom he believed could be ruined by inherited wealth—or being diminished through taxes. The foundation grew in the 1990s as Fairbanks contributed more and sales of radio and cable properties by Fairbanks Communications prompted seven- and eight-figure gifts. Assets neared $350 million […]