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Daily Local News – November 22, 2017

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The Indiana Department of Transportation is warning holiday-goers that road work and lane restrictions will still be in place along highway 37 during Thanksgiving. Project-based Science, Technology, Engineering, Arts and Math, or ‘STEAM’ curriculum continues to be a priority at the Richland Bean Blossom Community School Corporation. The Edgewood Junior High band, choir and dance teams are preparing for 2018 competitions. The City of Bloomington continues to repair the sky bridge at the downtown Fourth Street garage. The Indiana Department of Revenue is being sued by the Small Business in Transportation Coalition.

FEATURE:
On November eighth, the New York Times published an article about university foundations not paying taxes on their endowments, many of which are in the billions of dollars, by investing in overseas corporations. In the first sentence of that article was the Indiana University Foundation. According to documents provided to the Times from a leaker at a Bermudan law firm, the IU Foundation had invested 10 million dollars in a Cayman Islands investment firm. WFHB contacted the non-profit IU Foundation to discuss the allegations that IU was offshoring investments in order to avoid paying federal capital gains taxes.
In a statement to WFHB, the IU Foundation confirmed the Times’ allegations, stating that the use of so-called ‘blocker entities’ is, quote, “an accepted and long-standing common practice by university foundations across the country,“ end quote. Foundation President and former Dean of IU’s Kelley School of Business, Dan Smith spoke with WFHB News Director Wes Martin this morning. Part of their conversation comprises today’s WFHB Feature Report.

BETTER BEWARE:
Here are the top four scams that are targeting you during the Holidays, according to the BBB. You’d better watch out, whatever you try – or you’re going to pout, I’m tellin’ you why!

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