Welcome everyone.

This is our Thursday, June 18th, 2026.

Meeting of the Board of Directors for the Indianapolis Public Transportation Corporation.

Welcome everyone.

And at this point in time, I will ask this is our Chief Legal Thursday, June 8th, Friday, 2026.

Thank you, Director.

Meeting of the Board of Directors.

For the Indianapolis Public Transportation Corporation.

And at this point in time, I will ask our Chief Legal Counsel, Bob Fry to call the roll, please.

Thank you.

Directors, please indicate your attendance when I call your name.

Present.

Mr.

Chair, we have a quorum.

We do believe Director Slash is online.

I'm present.

Okay, there she is.

So just a note for the record because we do have one member participating virtually.

We'll have to take all of roll call votes.

Okay.

Just remind me.

Next item is item number two, awards and commendations.

And our president and CEO Jennifer Purrz will present any words and commendations we have for May.

Good afternoon.

Jennifer Pearce, President CEO.

I have a short group today.

Our usual is the safe drivers and employee of the month.

So we'll start with our May 2026 safe drivers.

The operators that we have listed here were recognized in May for their safe driving record, and each one of them received a national safety council patch pen and certificate.

So congratulations to everybody on this list.

I'll highlight Mr.

Patrick Gray.

He has been working for us for 21 years and recently celebrated 20 20 years of safe driving, which is quite an accomplishment.

So congratulations to Mr.

Gray.

And then finally our June operations employee of the month.

Want to congratulate bus operator Geneva Hartwell.

In her nomination, her teammates noted that they were proud to recognize her tremendous growth and success as a professional coach operator.

Her professional trajectory is one of great success, and her nominator said that while she was doing outstanding work long before the nominator became her supervisor, they were proud to support her.

She noted that she demonstrates a strong commitment to safety, excellent demeanor, and consistent attendance.

She is known for always wearing a smile that brightens the day of her teammates and riders.

Everyone feels welcome and valued in her president presence.

So congratulations, Ms.

Hartwell.

With that, we'll hand it back over to you, Chairman.

Thank you.

Next committee reports.

That's item number three.

Thank you.

And uh moving on to item three, the committee reports.

Without objection, we will enter into the record.

Uh the service committee report for its meeting on June 11th, 2026.

Anyone object?

Okay, thank you.

Show for the record that that has been admitted.

Now we move to now we move to the uh regular agenda and item number four.

Um action item A1, and that's consideration approval of the board minute meeting, the board minutes meeting for uh May the 21st, 2026.

Are there any questions or comments from the board members uh after reviewing the minutes from last board meeting?

Okay.

If not, can I get a motion for consideration and approval of the May 21 2026 board meeting minutes?

So move.

Okay, uh since we have a member participating electronically, the board's votes today will have to be by voice vote.

Voice.

Oh, that's right.

We're doing it by roll call.

Thanks.

So, Bob, will you please call the roll?

Mr.

Chair, too, for the record, I'd like to indicate that director quick has arrived at 407.

And Director Quick, the motion right now is to approve the minutes from last month.

I'll leave it to you whether you choose to vote or not.

Um, so on the present motion, directors.

Please indicate your vote when I call your name, Director Smith.

Director Slash.

I.

Director Hunt.

Aye.

Next is action item A2, and consideration adoption of resolution 2026-05, approving the fixed route fare policy.

And a manager of special projects and regional mobility integration.

Ryan Willheit will present.

This portion of the board meeting is a public hearing.

And following Ryan's presentation, any member of the public attending will be given the opportunity to speak for or against the staff's recommendation.

If you would like to speak, please come up now and put your name on the list with the board clerk sitting to my right.

So manager of special projects and regional mobility integration, Ryan Willy.

Thank you so much.

Uh good afternoon, Board of Directors, Manager of Special Projects and Regional Mobility Integration, Ryan Wilh.

I'm presenting action item A2 consideration adoption of resolution 2026-05, which approves the fixed fare policy and the associated fair equity analysis.

I'm gonna read the recommendation on action item A2, just to make sure we're clear there.

That's the recommendation to uh is recommended that the board of directors adopt resolution 2026 uh-05, approving updates to IPTC's fixed drought bear policy and the fair equity um analysis.

Um, as a bit of background, the board approved fixed drought fare policy in 2025.

The policy outlines the fares charged on fixed drought and fare collection procedures.

Um, some of the policy items that were in that fixed drought bear policy in 2025 were tied specifically to the previous system uh key, which we're currently operating and will cease operating uh soon.

On July 1st, 2026, we're introducing the new system, Mikey Plus.

Uh, we need to align our fixed route fire policy with the Mike Key Plus functionality.

Specifically two items, the deposit bonuses and the ticket vending machines that are included in the policy.

The proposed policy revisions include eliminating the deposit bonus and removing references to accepting payment through ticket vending machines.

The deposit bonus is not offered as part of the standard configuration for the Mikey Plus.

Rather than customizing the software, we're proposing elimination of the deposit bonus.

Ticket vending machines are not supported.

Uh the current ticket vending machines, excuse me, are not supported on my key plus.

Replacing them would require significant capital outlay.

Instead, Indigo is going to leverage the retail network that is available through the uh my key plus system that's existing.

Whenever we uh have a fair policy change, we are required to evaluate, understand if we need to perform a fair equity analysis.

This is required when we're doing an increase or decrease of fares.

Um I did not say that we're doing an increase and decrease of fares.

We are performing a fair equity analysis because the deposit bonus was included in the fair policy that was adopted in, I want to say 2019, but all blurs together with the 2018 work.

So it was in a previous fair policy and in the 2025 fair policy as well.

So uh when we took on that task, we realized that the existing data that we had available to us did not allow us to conduct a quantitative analysis of the um deposit bonus change.

Um, as a result, staff determined that we would move forward assuming an impact and follow our process for when an impact is found when in an equity analysis.

And as a result, we conducted public outreach about the removal of the deposit bonus and documented within the fair equity analysis a business justification for why we would not include the deposit bonus on the my key plus system.

I normally don't read from a script, but I like to read the script on that one.

So with that, that is uh my presentation.

I'm more than happy to take any questions that you all might have about these uh changes.

Anybody any questions from the board?

Um have any members of the public signed up to speak?

Okay.

Um with that, uh, we'll close that part of the public uh meeting and um let's see.

Public hearing is now closed.

And are there any other comments or questions from the board after that?

Okay.

Thank you.

Can I get a motion for adoption of rev resolution number 2026-05?

Okay, there's been a uh motion for adoption of resolution 2026.05, and the board's bylaws require a uh roll call vote.

So Mob for I will take the roll call.

Thank you, directors.

On the present motion, please indicate your vote when I call your name.

Director Smith, director slash.

Aye.

Aye, director Fagan, Director Wilson, Director Garr.

Aye.

Aye.

Motion.

Resolution is adopted.

Okay, thank you.

Thank you.

Next is action item A3, and that's consideration and approval of a task order for Butler Fairman and Seaford for construction management services for the Blue Line Project.

And um director of capital projects, Matt Duffy will present.

Good afternoon, Matt Duffy, Director of Capital Projects.

It's recommended that the board of directors authorize the president and CEO to execute a task order with uh Butler Fairman and Cypher or BFNS for construction management services for an amount not to exceed 269,000.

Uh, in February 2026, the board approved a contribution of six million dollars towards the uh city of Minneapolis DPW's West Washington Street Improvement Project.

Part of that project will occur within the blue line instruction limits.

The second page of the action item has a diagram that was also presented um back in February showing where that project overlaps with the blue line.

So this request is for construction management services for BFNS to oversee that construction uh that occurs within the blue line limits.

Uh the good thing in this case is that uh BFNS was also worded the contract for the city's inspection of their project, so it works really well.

They were already inspecting our project and will be inspecting that project.

Um makes a lot of sense uh for them to have this work.

It's a task order-based contract.

Uh to date, there have been around 25 and a half million dollars uh of work on this contract.

Um, the inspection work uh covers the the daily oversight, utility coordination uh and material testing associated with uh construction inspection.

Uh the of the six million dollars, important to note that this 269,000 task order is fully covered with in that six million dollars.

So this is not in addition to the six million, so it's already covered under um that request, and that's per the agreement that we have with the city, uh, between the two projects.

And then uh lastly, on the DBE uh XPE declaration, there's no participation on this task order uh because it's such a small portion of the work they wanted to self-perform it, uh, but they have exceeded their goal to date.

So their goal is 15%, and right now their utilization is 20 and a half percent on the overall contract.

Happy to answer any questions that you might have.

Any questions for Matt?

Okay.

Thanks, Matt.

Um, can I get a motion for consideration approval of a task order for butler, ferment, and seaford for construction managed services?

So move.

Okay, there being a motion and second, Bob.

Will you please call the roll?

Yes, on the private on the present motion, please indicate your vote when I call your name, Director Smith.

Director Slash.

Director Slash.

Director Quick.

The motion carries.

Very much.

Thank you.

Thanks, man.

Uh next is action item A4, and that's consideration approval of a new task order with Burgess and Nipple for construction management services on the 2026 BRT pavement maintenance project.

Uh project manager capital projects.

Christian Cameron will present.

Good afternoon.

Thank you.

This is Christian Cameron, project manager of capital projects.

This is a very similar um action item that you just saw from Matt, but for different project, different scope of work.

So it is recommended that the board of directors authorize the president and CEO to execute a task order with Burgess and NIPL or BNN for construction management services to advance the 2026 VRT pavement maintenance project for an amount not to exceed 230,000 dollars.

Um back in 2023, the board awarded um an on-call task order based um contract with BNN and their um fees up to date for services uh furnished to Indigo total 1,012,562 for projects that have included on-street infrastructure and facility improvements.

Um if executed, this task order will include construction management services leading up to construction during construction and during the project closeout period.

Um, to give a little background on the construction services that they're providing for um this project, the project at hand addresses pavement repairs along the red and purple line, including Capitol Avenue, Meridian Street, and College Avenue.

Um, similar to the scope of work that Matt just laid out with his action item construction services for this project, ensure that the work meets contract plans, specifications, terms, and applicable Indianapolis DPW transportation standards, and the services include things like project controls, um, change management, daily construction inspection, oversight, material testing, risk management, and weekly and monthly reporting.

The cost of these services for this work is included is included as part of the locally funded project operating budget, and um XPE participation is detailed down here at the bottom of the page.

So to date the contract is at 27.1% XPE participation.

Um this task order totals 20.9% XPE participation, um, and you can see the breakdown below if if you're interested.

Happy to answer any questions.

Thank you, Matt.

Have we got or Cameron?

I'm sorry.

Um, are there any questions or comments from the board?

You say that this is already included in the initial budget, right?

Uh yes, this is budgeted for, yes.

Any other questions?

Chairman, just one question.

Um I should know the answer to this, but this is ongoing maintenance, right?

I mean, this is something that we're gonna have to plan for yes out years.

Yes, that's right.

But do we have do we know what this cycle is for having to do this maintenance work?

I'm assuming.

And I may be wrong, but this would include other part the other part of the purple line at some point in the future, and the blue line when it goes into revenue service at some point in the future.

That's correct, yes.

So we've got a um a pavement asset management plan being put together by another consultants that should inform out years of planning.

Um so at this scope of work this year, we wanted to really focus on the red line, um, and it includes that section of the red line that overlaps with the purple line, of course.

Um, but yeah, in future years, we'll be looking at purple line and um say six, seven, eight years from now, we'd be looking at blue line paid payments.

Good.

Thanks.

I just want to make sure I was clear on that.

No problem.

Any other questions for Christian?

All right.

Can I get a motion for consideration and approval of the new task order for burgess and nipple for construction management services?

So moved.

Second, all right.

Uh motion and second.

Bob, will you please uh call the rule?

Director.

Want to call your name in the present motion.

Director Smith.

Director Slash.

Aye.

Director Quick.

Director Bay.

Aye.

Director Wilson.

Aye.

Director Gardner.

Aye.

Director Han.

Motion carries.

Thank you.

Thank you.

Next is action item A5.

And that's a consideration of approval of annual insurance placement.

And our director of risk and safety, Ryan Clem, will make that presentation.

Good afternoon, ladies and gentlemen, members of the board.

Name is Brian Thim, Director for Risk and Safety.

I bring for you the consideration for the insurance placement for 2026-27.

It is recommended the board of directors authorize our president and CEO to buy an insurance coverages for IPTC through July 1st of 2026 through June 30th of 2027, an amount not to exceed 1,190, and 115.

A little bit of background, IPTC's insurance broker currently, insurance management group, IMG, makes uh IPTCs or markets IPTC's risk profile, and then solicits quotes out to the insurance market for recommended uh coverages to meet fiscal capacity, fiscal capacity, and best values of corporation.

A little bit of discussion.

This year's solicitation attracted significant market interest uh from prior years uh with multiple competitive quotes.

IPDC carries insurance coverage for all property, employment practices, uh, or employment practice liability EPL, directors and officers, DO, uh liability, crime, fiduciary, cyber insurance, and retained limits or excess liability.

Notable premium reductions uh for the quota lines of coverage include for this year, property coverage, a decrease of $325,000, 325, $652 or 33% decrease, fiduciary coverage, a decrease of uh one thousand two hundred and thirty-seven dollars or fifteen percent, and cyber protection coverage a decrease of two thousand four hundred and twenty-six dollars or 29% decrease.

Um, I see a correction on my papers, just want to point that out, that um this year with our DNO coverage for directors and officers and board members, we were also able to tame at the same value um five hundred thousand dollars of additional protection coverages uh for that line item.

Overall, the 2026-2027 renewal delivered a net savings of 292,855, or a 20% reduction over 2025-2026 renewals included in the agenda packet is a sharp chart showing each line of insurance coverage in the corresponding year-over-year uh percent change in premium cost.

Fiscal impacts.

The services are locally funded through our operating budget each year, and our DBEXBE declaration, uh, due to the specialized nature of insurance markets and the absence of subcontracting opportunities, there was no XPE participation goal for this action item.

I would also like to uh take the opportunity to thank a member of my staff, Kevin Newman, which is our risk and safety manager for Indigo.

He put many late nights, long days to get data with a several sharp pencils to try to work with our underwriters to make this happen.

So just I would like to recognize uh Kevin Newman.

Uh and then I'd also like to call up our insurance broker with IMG, Greg Lane, and me and him will be more than happy to answer any questions for you.

And that concludes my report.

Thank you.

Great.

Thanks, Brian.

Hello, good afternoon.

I'm Greg Lane with Insurance Management Group.

I'm open to any questions you'd have regarding what you so eloquently talked about.

So, Chairman.

Yeah, it's time for another exciting episode of fun with the finance chair.

So uh Greg, I'm assuming that the the notable reduction in the property coverages because of the way we changed insuring our rolling stock is that would that be accurate?

I'd say half of half of it was the rolling stock, half of it was rate.

Was what half of it was what?

We are insuring the rolling stock, and the rest of it would be rate reduction.

Rate reduction, okay, great.

Um, and then I was you know, I had asked um, can't remember who I asked, but I asked somebody if if the way we're buying our insurance, if we looked at industry trends or best practices across, you know, what other peer agencies might be doing.

Yes.

How do how do we how do we stick because it seems to me like we've got a pretty good question?

I did do a report on that, and I will be glad to share a PDF for the board afterwards, but I will tell you that generally speaking in transit in the transit world, there's three different ways to ensure rolling stock, actual cash value, replacement cost, or agreed value.

In the past, Liberty Mutual has made you carry replacement costs this year.

We were with competition, we were able to get them to go with an agreed value that Brian's team was able to come up with that was more because of the buy America issue.

There's there's issues with regards to replacement costs.

So they were essentially punishing you with a rate.

So we were able to get them to agree to rate you based off that lower amount.

Great.

Awesome.

I listen, I really appreciate the hard work the junior team did.

And I, you know, um saving money is like a really good thing.

So thank you for doing that.

Brian, thanks to your team also for the hard work.

Appreciate it.

Thank you.

Oh, hey, Brian, can you give me that PDF?

Can you send me that PD?

Absolutely.

What we'll do is we'll send that to Mika, and then she'll send that out uh concluding the meeting to the board.

Okay, great, perfect.

Thank you.

All right, any other questions or comments from the board?

I think the finance chair asked that one well.

No questions over here.

Can I get a motion for consideration and approval of annual insurance placement?

So moved.

I get a second.

There would be an emotion and a second.

Bob, will you please call the roll?

Directors on the present motion, please indicate your vote when I call your name.

Aye.

Aye.

Director Fagan.

Aye.

Director Gardner?

Aye.

Director Hahn.

Motion carries.

All right.

Thank you.

Uh this brings us to agenda item number four, the information items.

And item uh I one is the finance report, and that will be presented by Chief Financial Officer Justin Ruckon.

Thank you, Mr.

Chairman, members of the board.

Justin Burkope, uh Chief Financial Officer for Indigo.

Here this afternoon to present highlights from the May 2026 financial report, beginning with revenue, fair revenue exceeded budget by approximately sixty-eight thousand or uh thirteen point nine percent for May, and is now running about one hundred and eighty-six thousand or seven point five percent above budget year to date.

Um, and to provide a little bit of additional visibility to our um fair revenue.

There should be another report later on in the packet.

Um specifically calling out our fair revenue performance for the year.

Um, this was something that was present that we presented at the service committee earlier this month, and it was recommended that we include that in the board packet going forward.

So you'll see that each month uh gives a good insight into our performance, particularly uh year over year.

Other operating income was also favorable for the month.

During the month, we received a six hundred and forty-four thousand dollar reimbursement from citizens for sanitary utility relocation work associated with the blue line, resulting in this category finishing approximately 410,000 over budget for May.

We also received our annual public mass transit transportation fund allocation from INDAT in May, as well as a 9.3 million dollar supplemental local income tax distribution, which also significantly increased revenue for the month.

Uh moving on to expenses and personal services, fringe benefits were over budget for the month as a result of two invoices that were paid uh in the one-month period for our employee on-site and off-site medical clinic services.

Um other services and charges for the month.

Um, claims expense was over budget during the month, and this was driven primarily by uh some timing and a high amount of claim related activity that was recognized in May.

Overall, other services and charges were under budget: 1.2 million dollars for the month and 5.4 million dollars for the year, and moving to materials and supplies, uh, all budget categories for materials and supplies were under budget for the month, um, 292,324 dollars total and 1.5 million dollars under budget uh year to date.

Overall, Indigo is 1.4 million dollars under budget for May, and 9.9 million dollars under budget uh year to date.

That concludes my report, and I'd be happy to answer any questions.

Any questions from the board for judgment?

It regards through the uh overtime.

What's it seems to be doubled with the budget uh it does, yeah.

You'll um it's it's a trend we've seen throughout the year.

Um, we do continue to experience some shortages, uh, particularly in our operations division that have driven up overtime expenses for the year.

Um, the good news is that it's offset by the underspending in the salary itself.

Oh, so we continue to be under budget there as a whole.

All right.

Any other questions?

Okay, thank you, Justin.

Okay, next is uh item one to I2, and that's the uh Indigo Foundation quarterly report, and that'll be presented by the Indigo Foundation board chair Hardy Shaw.

Good afternoon, everyone.

Uh good afternoon, good directors.

I'm Hardy Shah, co-chair for Indigo Foundation, and I'm here to present the quarterly report for Indigo Foundation on behalf of Foundation's executive director, Emily Moore, who is on a family vacation this week.

So happy to be here, and next slide, please.

So this is a new website that Indigo Foundation launched earlier this month, and the website allows us to have the platform for more original content that will also be used for our social media.

This summer you'll see a variety of uh content shared from blog posts to videos and presentation at the transit equity day.

Um, for example, this week we shared uh a blog post by Rachel Moss at Transit Equity Day, and um I'm sorry, uh on how to how choosing to write transit is essential and investing in the shared system and as a way to demonstrate um the civic generosity.

The goal of the content like is to help the position the foundation as a thought leader in the community, and taking advantage of our unique positioning between the transit agency and the community, amplifying our voice in the community with strengthen our supporter base and ability to fundraise.

The new website also completes the transition of getting Indigo Foundation off of Indigo's IT services.

This design was paid for through Lili Foundation grant that we received in 2024, and the maintenance will be handled internally as well.

And I also wanted to acknowledge Rachel Moss, the director of programs and operations, who is joining us as well.

The impact report.

So every year the foundation uh sends out the impact report.

So, based on the 2025 impact report, um, it was mailed to all of our donors and not-for-profit organizations earlier this month, and it is more concise than what you have seen in the previous years, uh, focusing mainly on the outcomes related to reducing financial barriers, physical and social barriers to transit as well.

And you all should have received a copy in mail uh at home.

But let us know if you would like to have additional copies or distribution.

This is fun.

I always like to see a cade on the picture.

So this summer collection of Indigo Swagstore uh launched on June 11th, and it includes more requested options for kids.

If asked how the swag store is doing as much as it's fun to see, uh the store was not created to be a big moneymaker, it was more of a conduit uh to identify people who are passionate about transit and how we can cultivate them as donors.

Uh, the hope was that we would eventually at least break even, uh, which we have not done yet, unfortunately, but the amount we spend on store is in line with other prospecting like the marketing collateral, right?

Uh, it's about 15,000,500 to 2000.

Uh, February marked one year anniversary of the store.

As we start to plan for 2027, um, we will be evaluating if the store is worth continuing or if this is something that Indigo wants to take on.

But definitely a discussion needs to happen with regard to the future of Indigo Foundation's Wag Store.

Up next is not-for-profit sector update, right?

So, Indigo Foundation in many ways serves as Indigo's connection to the not-for-profit sector.

We periodically update you on the trends that are that we are seeing in this sector.

There have been many changes in the federal policy over the past 18 months that are having a tremendous impact on our not-for-profit sector.

Here are some key takeaways from the Center of Effective Philanthropies, State of Nonprofit Report.

All these three findings that you are seeing on your screen are the things that our foundation team is seeing and experiencing uh locally on a day-to-day basis.

This study is also available at CEP.org.

Uh, the key findings of the reports are burnout has increased dramatically among the non-for-profit CEOs who say the current context has contributed to lower staff morale and heightened the level of stress and fear.

CEOs, the not-for-profit CEOs report more difficulty obtaining the foundation uh funding than any previous year due to changing landscape.

Uh, despite ongoing financial challenges, many not-profits are making strategic adaption to their work in order to survive.

I mean, constantly you have to evolve the new older strategies do not work in the current landscape.

So, what is out there, foundation is constantly evaluating what are the best practices that are out uh in the not-for-profit sector and adapting and with agility.

So, but there are still some struggles that I would like to acknowledge.

Um, overall, um, Indigo Foundation's not-for-profit program, right?

So, um, I think that has been a story.

I don't want to read verbatim, but we can go to the next slide, and this material is available for you to digest later on as well.

Um, not profit fair program update.

Um, so the team worked with Indigo to create a detailed uh letter for not-for-profit partners to explain the changes are coming.

It was important that we send this letter before Indigo announced the Mikey Plus changes because the process and products available for not-for-profit organization, uh organizations and bulk orders is different than what was available to the general public.

Overall, both the team and our not-profit not-for-profit partners are relieved that Indigo decided to make the new paper product available for bulk orders.

Uh, so highly appreciative of those collaborative efforts.

This takes the pressure off and gives more time to transition effectively and smoothly.

Up next is um the end is yeah.

So, endowment feasibility study.

Many of the board uh members on Indigo uh Indigo have been part of the Indy uh Indigo Foundation's endowment feasibility study.

Thank you, Greg and Adrienne for being part of those committees and the conversations, and those were really productive and insightful.

Um, some key takeaways from the findings are uh the foundation is seen uh to be a good collaborating partner, but the public sometimes equates the two organizations, so the foundation sometimes is burdened by the things that are out of control for the foundation.

Um, for example, the cleanliness of the bus stops, right?

So the foundation receives sometimes inquiries directly to the foundation uh about the state of the bus stops.

But you know, um I know things are improving for sure, but I think overall this this are the findings from the study.

Donors feel like the fair discount programs are generally easier to understand and better for philanthropic funding than the ADA infrastructure projects.

Donors may want to see the employers whose workforce and customers frequently use the transit system, uh, for example, hospitals and hospitality industry stepping up to be financially supportive of Indigo Foundation.

And um, Emily is happy to meet with all of you or any of you to review the report um in its entirety.

It's a long report and has many other observations and key findings, uh, but just for the purpose of this meeting, just wanted to keep it concise and short and to the point.

Up next is some um foundation metrics.

So the 2026 goal um was divided into two or three major um aspects, and all Indigo Foundation staff have performance metrics that are measured monthly, and this month, this metrics are related to the fundraising for the team.

So we we had uh for 2026 um eight donors meet eight donor meetings a month as one of the goals, and the team has achieved through June 10th 38 plus three scheduled meetings.

Um, and then uh, you know, there are so I would like to clarify this third row here, which says raise 712,000 dollars is a subset of raise 1 million dollars.

Those are not two separate, so just wanted to clarify that aspect as well.

And a positive news is that since this report was pulled or put together, um, the team has received uh notification that we have been able to um receive in actuals 177,789 dollars or 17.7 percent in um the 1 million dollar bucket, the second row.

So um the report has not been updated because it was priorly put um next up next, yes.

So um competition for the grants this year is unprecedented, as previously mentioned with the state of not profit study.

However, there are a few foundations that we are starting to have deeper conversations and be invited for larger gifts.

Those applications are due this summer with announcement at the end of the year.

We are trying a new strategy this year of starting to solicit the 2027 events, for example Transit Equity Day and COF Outing in the summer to help ensure the companies are budgeting for them.

Um that is why we have been pushing to get 2026 call for renewals in uh early this year, because sometimes when you are approaching in the middle of uh earlier in the year, the budget is set, usually they are set well advanced.

So we just wanted to make this modification in the timeline to be able to tap into those corporations to have the funding allocated for us through their budgeting process.

Um, our 2027 corporate sponsorship guide will be distributed in July and will feature a discount if companies uh commit to both the transit equity day as well as golf outing before the end of 2026, just to entice them and lock in the revenue early on.

The next slide is showing uh uh line chart that shows the number of donors over the past two years.

Um past I think past three years is what I'm seeing here.

Um, and this is a positive direction that's going well.

Uh again, there are a lot of opportunities, but it's a good progress.

The next slide is about the 2026 board giving.

So, foundation board has be uh has been able to contribute about 69% till date.

We'll continue to monitor this, and our hope is to get 100% by the end of the year.

Um Indigo board represents 71%.

So inner circle giving in total is about 70%.

So thank you to everyone who has supported to the Indigo Foundation's board giving.

And lastly, um strategic plan uh next steps and update on that.

Uh we know Indigo Foundation is in need of a revised strategic plan that was put together, probably the last version was put together uh two to three years ago, particularly to accommodate the potential changes with our programs.

Um here is how Indigo Foundation is thinking of approaching that plan while incorporating the feedback from two studies being conducted this year.

Uh, two studies meaning the endowment feasibility study as well as um um uh the the study that Indigo's I forgot the name of the um carp.

Yes, thank you.

Uh so we request a meeting for both boards to have a chance to understand the findings of both the studies and ask questions of the consultants.

If you are in favor, we definitely would like to uh work to get such a meeting scheduled this fall because again, we want to make sure that there is a synergy and there is an open dialogue between both the studies as well as both the boards.

So definitely reach out to Emily or myself uh if you would like to go that direction.

I think it's going to be really fruitful.

With that, I conclude my report and happy to take any questions uh as well.

Thank you, Harvey.

Uh are there any questions or comments from the board members?

Sure, go ahead.

I hate to I feel like I'm compromising the other board members.

May I always go first, but um are I don't know that first off, it's great to see you.

Um, if I've just got some questions, I don't know if you can answer them, but if you can maybe make a note and take them back to the so that we could um spread it around to the board members.

But with with regard to your new website, um, you know, I was I was trying to figure out you know, navigated a little bit.

Um, I'm just wondering if there's if there's any anybody coordinating messaging between the foundation and Carrie Black's group at the corporation.

So that we're not messaging or or you know not being consistent in that messaging.

Correct.

So that would be the first thing.

Um the second thing that I know on your in the report that there was uh as of June there was seven hundred and seventy thousand dollars in um uh requests pending or requests outstanding.

If is I don't know if there's a way that you can quantify the what's reasonably doubtable, you know.

I mean, you a lot of times you know you you you file for everything you can possibly file for, hoping that maybe you get lucky on a couple of them, but there should be some in there, I would think that you have some reasonable expectation of uh of of return um uh on that on that request.

And so that would be interesting to know.

Um and if there's ways that um uh board members can be helpful and you know, maybe a little nudge here or there.

Yeah, uh, can I ask you collect clarifying question?

So I sorry, I'm sorry, I forgot or I missed the first part.

Is it regarding the swag store?

I'm trying to uh wrap the numbers or tally the numbers that you just uh said.

No, uh the the uh I don't know what about the swag store.

I was talking about the the my first question related specifically to the the foundation's new website.

Yeah and the messaging line.

Yeah, that I that I got seven hundred and seventy K I was talking about was that in the chart on the fundraising said you had grant solicitations.

So we're outstanding.

Uh okay, yeah.

I mean it's no secret, I'm not a huge fan of the swag store.

I think it's a kind of a waste of time and money, but that's another discussion.

Um but um and then my my final comic sort of sets of questions are um you talk about the um the outreach and you're doing um let me get back to it so I know what I'm talking about here.

So um you talk about the outreach and you're doing um uh looks like one, two, three, three, maybe three three mailings, and a couple or three um email solicitations.

Um could you find out from what the cost of all these mailings are in the individually and collectively and the revenue generated from those mailings?

Right.

Um and then also the revenue generated from the email solicitations.

Yeah.

All right, I'll follow up with those questions and work with the team and get back with uh the number.

I mean maybe if you can just stick that in next month's report.

Yeah, um, you know, it's not anything just kind of list it out and just put it in the packet so we we've got that information.

And I let me just say I I I think it's a great idea, Mr.

Chairman, in October or November, whenever the all the studies are done, we probably should sit down um with uh with the uh foundation board and and get you know get a report on all those.

I mean I don't think that's anything that couldn't be done in a public meeting.

Right.

I think just to piggyback off of the mailing aspect, right?

I mean uh the indigo foundation's approach has been even though we may not generate more revenue out of the mailings, but the more visibility that we have out in the public uh donors, I think that's what we are uh trying to get to.

There are different mechanisms that you can reach out to the donors like social media or annual impact report or whatever that may be.

So sometimes you may not see the revenue generated directly out of it, but it's a good metric to have.

But overall, I think there are some key events that you know we have seen some positive momentum going, right?

Uh Transit Equity Day.

How can we make it bigger and better and um connect to some of the initiatives that are happening uh at Indigo?

So it is a good opportunity for foundation and indigo to collaborate uh on certain things that we are getting more visibility out and quick returns on those.

Yeah.

Yeah, you're wrong, Hardy.

I'm not it's not that I I I'm not I'm not looking for an ROI on a mailing, yeah.

I'm just trying to understand if we're spending we're spending I'm making up numbers.

If we're spending ten thousand dollars on mailings and we're getting two thousand dollars in return, all the visibility in in the world is great, but is it is a is a wide is it a wise use of resources to do those.

Maybe we think about other ways or less frequent or I don't know, but um I'm I'm just trying to think through um the the value add, I guess.

Would be my my my thoughts so but but other you know I think it's a great I think it I think it's a great the website looks very interesting to me and I think it's a great opportunity um for us on the corporate board to kind of help try to understand what it is that you all are are attempting to do and and so we can all get on the same page and start calling the ours in the same direction.

So thanks, Hardy.

I appreciate you.

Thank you so much.

Have a good day.

Any other questions, comments?

Okay.

Um if that's it, then that's the uh uh end of our meeting or uh June.

I want to thank everybody for attending either in person or virtually, and uh wish everyone a uh happy June 19th, and uh we look forward to seeing you in July.