What IPS Foundation does

IPS Foundation (legally the Indianapolis Public Schools Foundation) is an independent 501(c)(3) public charity founded in 1989 and headquartered at 120 E. Walnut St., Indianapolis, Indiana. It is the sole philanthropic organization dedicated exclusively to raising private funds for Indianapolis Public Schools (IPS), the largest public school district in Indiana, which serves more than 31,000 students across 88 schools and programs and employs 3,500+ teachers and staff. The foundation channels donations, grants, and corporate partnerships into scholarships, strategic initiatives, teacher grants, and capital investments aligned with IPS district priorities.

Its core programmatic offerings include the IPS Scholarship Program (13+ funds covering Arsenal Tech, Crispus Attucks, George Washington, and Shortridge high schools plus a General Fund), the Strategic Initiatives Program (Academic Achievement, Authentic Engagement, and Postsecondary Readiness, with $30M+ raised since 2018), the IPS Education Equity Fund (individual one-time, recurring, and payroll-deduction donations), and the Community Partnerships program featuring tiered sponsorship levels (Diamond, Platinum, Gold, Silver, Bronze, Supporter). The foundation operates with a lean staff of 1-10 employees including a CEO, COO, Director of Special Projects, and Executive Assistant, and is governed by a board comprising senior leaders from Indiana University, TechPoint, Eli Lilly and Company, and Schmidt Associates.

Its business model is philanthropic rather than commercial: revenue derives from individual donations, corporate and foundation grants, and major gifts, with approximately 10% of donations allocated to administrative expenses. Cumulative fundraising exceeds $80 million during CEO Kelly Karbowicz Riley's tenure since 2018, including a $25 million single largest gift for Crispus Attucks High School. The foundation's go-to-market is community-led, relying on direct partnerships with IPS district leadership, corporate partner networks, and grassroots donor engagement rather than any product or service sales.

Name

IPS Foundation

Legal name

Indianapolis Public Schools Foundation

Website

https://ipsfund.org

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

1–10 employees

Short description

The Indianapolis Public Schools Foundation is a 501(c)(3) nonprofit that raises philanthropic funds exclusively for Indianapolis Public Schools, supporting 88 schools, 31,000+ students, and 3,500+ educators through scholarships, strategic initiatives, and tiered corporate partnerships.

Ownership category

akta.pro rank

Headquarters

HQ city

Indianapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Artwork Sales and Grants: The foundation receives grants and manages artwork sales to fund educational endowments. Example: $1.65 million grant from Lilly Endowment to support arts education.
2. Philanthropic Donations: Individual one-time and recurring donations from community members, IPS employees via payroll deduction, and corporate partners. The foundation has raised over $80 million for IPS students and programs.
3. Corporate and Foundation Partnerships: Strategic partnerships with corporations and foundations that invest in IPS district priorities, including Hall of Fame partners (Gold, Silver, Bronze tiers) and various sponsorship levels.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

IPS Foundation is the dedicated philanthropic partner of Indianapolis Public Schools, raising mission-critical funds from individuals, corporations, and institutional foundations to support academic achievement, postsecondary readiness, authentic engagement, and educational equity across 88 IPS schools serving 31,000+ students. The foundation administers the IPS Scholarship Program (13+ named funds for IPS high school seniors), the IPS Education Equity Fund (individual one-time, recurring, and payroll-deduction donations), Strategic Initiatives funding aligned with district priorities, and a tiered Community Partnerships program (Diamond through Supporter levels) that connects donors to district priorities.

Product overview

IPS Foundation operates as a philanthropic organization for Indianapolis Public Schools, not a technology product company. The foundation offers a scholarship program with 13+ funds for IPS high schools, an Education Equity Fund for donations, strategic initiatives focusing on academic achievement and postsecondary readiness, and a community partnerships program connecting donors with IPS priorities. These programs work together to provide financial resources and support for the district's 88 schools and 31,000+ students.

Differentiator

Problem solved

Functional benefit

Products and services

• IPS Scholarship Program

Quantifiable outcome

• 93% graduation rate achieved for Class of 2025, surpassing Indiana's statewide average of 91.83%
• +5 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core and minor.

• Apex BenefitscoreGTM or Marketing PartnerHall of Fame Gold Partner for 2025-26 school year
• Schmidt AssociatescoreGTM or Marketing PartnerHall of Fame Silver Partner for 2025-26 school year, architecture and design firm
• JS | HeldcoreGTM or Marketing PartnerHall of Fame Bronze Partner for 2025-26 school year
• SIM+IndyminorGTM or Marketing PartnerAdditional partner for 2025-26 school year
• BarnRaisers of IndianacoreGTM or Marketing PartnerPlatinum Level partner in 2024-25, selected IPS Foundation as key benefactor at 2024 Annual Habelfest. Founded in 2011, has raised over $1.2 million for partnering charities.
• Western Governors UniversityminorGTM or Marketing PartnerPartner in 2024-25
• University of Indianapolis (UIndy)minorStrategic or Co-development PartnerPartner in 2024-25, higher education institution supporting IPS students
• Indiana State MuseumcoreStrategic or Co-development PartnerPurchased 148 stored artworks from IPS as part of $1.65 million grant from Lilly Endowment to fund arts education endowment

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Regional players

• United Way of Central Indiana: Regional philanthropic umbrella organization operating in the Indianapolis market across education, income, and health causes. Comparable as a Central Indiana fundraising organization competing for overlapping corporate donor budgets.

Direct peers

• Strada Education Foundation: Indianapolis-based education nonprofit focused on connecting education to economic opportunity through philanthropic grants and research. Comparable as a similarly-sized Indianapolis education grantmaker with overlapping postsecondary readiness mission.
• Ball Brothers Foundation: Muncie, Indiana–based private foundation with deep focus on education and quality-of-life initiatives across Indiana. Comparable as an Indiana regional education grantmaker competing for overlapping corporate and individual donors in the state.
• Ivy Tech Foundation: Foundation arm of Indiana's community college system. Comparable as an Indiana higher-education/access-focused foundation; the prior IPSF CEO Stephannie Bailey departed to lead this organization, indicating overlapping talent and donor networks.
• The Mind Trust: Indianapolis-based education nonprofit focused on K-12 public school improvement through talent, innovation, and policy work. Directly comparable as a local Indianapolis education nonprofit serving IPS-adjacent missions with a similar philanthropic funding model.
• Lumina Foundation: Indianapolis-based independent education foundation focused on postsecondary attainment and equity. Comparable as a mission-aligned Indianapolis education grantmaker with similar philanthropic structure, though operating at a national rather than district scale.
• Richard M. Fairbanks Foundation: Indianapolis-based private foundation that funds education (including IPS-adjacent initiatives) and other civic priorities. Comparable as a regional Indiana education grantmaker working on K-12 and postsecondary outcomes.
• Indiana University Foundation: Philanthropic arm of Indiana University. Comparable as an Indiana-focused education fundraising organization with overlapping board representation (Jonathan Coffington, IPSF board chair, is also IU VP) and overlapping donor base.

Broad incumbents

• Walton Family Foundation: Major national foundation focused on K-12 education improvement. Comparable as an education-focused grantmaking foundation pursuing student achievement and opportunity outcomes, though operating nationally and at materially larger scale.
• KIPP Foundation: National nonprofit supporting a network of public charter schools serving underserved students. Comparable in mission (K-12 educational equity) and philanthropic-funding model, though operating at a national scale and with charter schools rather than a single district.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/IPSFund

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds1 record

Investors1 record

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IPS Foundation