East Chicago Community Development Foundation

The foundation's primary funding source is a Local Development Agreement with Ameristar East Chicago Casino and Hotel. The agreement entitles the foundation to 1.625% of the casino's adjusted gross gaming revenue. This structure, negotiated through East Chicago Second Century, Inc., provides a recurring, non-market-based revenue stream that is distinct from the endowment models used by most private foundations.

Investment and grantmaking oversight rests with the Board of Directors. George Weems serves as President and Nadyne Kokot serves as Vice President, both having been with the foundation since its founding in 1997. The foundation maintains its own investment portfolio alongside its direct real estate holdings and community grant programs.

The foundation operates independently but has deep structural ties to the city through its revenue agreement. The City of East Chicago has been both a partner on redevelopment initiatives and a counterparty — the two entities have been involved in litigation over the distribution of gaming revenue. This places the foundation in a hybrid role: a private nonprofit with a public-purpose mandate funded by a municipal revenue allocation.

The foundation focuses on place-based investments within East Chicago, Indiana — including commercial real estate, affordable housing, and community facilities. It also operates a grantmaking program supporting local nonprofits, particularly those addressing economic development and community welfare. It does not make venture capital or for-profit equity investments in operating companies.

The foundation's capital deployment is predominantly direct — owning its headquarters building at 100 West Chicago Avenue, funding affordable housing developments, and making grants to community organizations. It has not publicly disclosed commitments to private equity, venture capital, or hedge fund vehicles. Its co-investment activity has been limited to regional relief collaborations with peer foundations such as the Legacy Foundation and Crown Point Community Foundation.

Key partners include the Legacy Foundation and Crown Point Community Foundation — both collaborated with East Chicago Community Development Foundation on the CARE-Emergency Aid and Relief Fund serving Lake County. The foundation also engages with the Lakeshore Chamber of Commerce as a civic leader and consults on business development issues in the broader northwest Indiana region.

Yes. Foundations of East Chicago, Inc. operates from the same headquarters at 100 West Chicago Avenue and appears to share governance and operational resources with the East Chicago Community Development Foundation. The relationship between the two entities is close, though the precise legal and operational separation is not detailed in available public records.