# Indian Community School of Milwaukee Endowment

Indian Community School of Milwaukee Endowment is an Endowment / Foundation based in Franklin, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Franklin, United States
- **Region:** North America
- **Address:** Franklin, WI, United States
- **Founded:** 1969
- **Assets under management:** Undisclosed
- **Website:** ics-edu.org
- **LinkedIn:** https://www.linkedin.com/company/indian-community-school

## Regulatory record

- **Reports private funds:** No

## About

Indian Community School of Milwaukee Endowment is a foundation based in Franklin, Wisconsin. It manages approximately $83 million in assets across 23 funds, primarily focused on North America.

## Sectors

- Education

## People

- Brian Leibl — Chief Financial Officer, Indian Community School
- Mary Jane (MJ) Bobyock — Board Member, ICS Support Organization; Head of Nonprofit Advice, FEG Investment Advisors

## Questions

### Where does the Indian Community School endowment's funding originate?

The funding comes primarily from a long-term gaming revenue-sharing agreement with the Forest County Potawatomi Community, established in connection with a historical land transfer in Milwaukee's Menomonee Valley. This arrangement provides a recurring, non-philanthropic inflow that functions similarly to a sovereign wealth stream, insulating the school from dependency on charitable fundraising cycles.

### What investment strategy does the endowment employ?

The endowment pursues a long-term, total-return strategy aimed at preserving intergenerational purchasing power for the school. While specific allocations are not public, the engagement of FEG Investment Advisors points to a diversified portfolio spanning global equities, fixed income, and alternative asset classes. The only publicly identifiable hard asset is the school's Franklin campus real estate.

### How does the ICS Endowment differ from a typical independent school endowment?

Most school endowments rely on alumni donations and capital campaigns. The ICS Endowment is funded through a gaming-compact revenue stream from a federally recognized tribe — a structural model more akin to a tribal trust fund or a permanent sovereign wealth vehicle. This makes its funding base highly durable and non-correlated to traditional philanthropic economic cycles.

### Does the endowment make grants beyond supporting the school's operations?

Yes. The I Can Soar Scholarship operates as a distribution arm of the endowment, providing direct student financial aid. Beyond this scholarship program, there are no other publicly named grant-making initiatives or external philanthropic programs.

## Related profiles

- [Indian Bank](https://altss.com/profile/indian-bank)
- [Indian Overseas Bank](https://altss.com/profile/indian-overseas-bank)

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Last updated: 2026-06-03T20:00:00.000Z

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