The Allstate Foundation recently awarded Dr. Bala Arshanapalli, professor of finance at Indiana University Northwest a $20,000 grant to create a Financial Planning and Education Center at the university. Scheduled to open in autumn of this year, the Center will serve as a resource in helping people understand money and finance in practical situations. 

“We want to be able to help people in various areas of finance that include understanding the finances of buying a home, starting a college tuition account, or simply how to invest,” says Arshanapalli, who will also serve as director of the Center. “One of main goals for the Center is to support the community for the long term, and then be available to them as their financial needs change.”

As director of the Financial Planning and Education Center, Arshanapalli brings a significant background in financial management, personal finance and investments. He has a Ph.D. in finance from Northern Illinois University, a M.A., in economics, University of Waterloo, Canada and a B.A. in business economics from Kakatiya University, India. 
The Allstate Foundation grant awarded to Arshanapalli will enable students and community members in Gary and the Northwest Indiana region to access financial services, including preparation and management, free of charge. Plans to conduct financial studies to benefit local businesses and aid the revitalization of Gary are also on the agenda. 

Founded in 1952, The Allstate Foundation is an independent corporation funded by contributions from Allstate Insurance Company. The Foundation works in concert with Allstate by aligning with the company's major focus areas: personal safety and security, neighborhood revitalization, and financial planning and education. Through a corporate committee and field office grant committees, The Foundation funds more than 1,000 programs each year.

“We are very excited to partner with Indiana University Northwest as they work to establish their Financial Planning and Education Center,” says Marcia Ensley, Corporate Relations Manager for the State of Indiana, Allstate Foundation. “For over seven decades, Allstate has built its reputation by promising to be there when our customers needed help protecting their lives, their family and their property.  We feel it’s our responsibility to go beyond the promise by giving back to the communities where we work and live Allstate fulfills that promise through agent and employee volunteerism and by funding non-profit organizations that support our Foundation focus areas."

Dawn Kesic, director of the IU Northwest Center for Management Development will serve as assistant director of the new Center. For more information contact her at 219-981-4258.

Photo: left to right Vickie Bellamy (Allstate), Bala Arshanapalli (IU Northwest), Dawn Kesic (IU Northwest) and Dan Mattingly (Allstate).