Case Study

NMTC Case Study for Turnstone Center for Children and Adults with Disabilities, Inc.

June 15, 2021

Project

Turnstone Center for Children and Adults with Disabilities, Inc. (Turnstone Center) is northeast Indiana’s only not-for-profit organization that provides a full range of rehabilitative, wellness, athletic and recreational programs and facilities to persons with disabilities and their families. Since 1943, Turnstone Center has continually evolved and expanded to respond to the needs and desires of the people it serves – a population whose needs are underserved and often neglected. Each year, Turnstone Center serves approximately 2,100 children and adults through childcare, preschool, adult day services, and speech, fitness, physical, occupational, and aquatics therapy (over 78,000 hours annually). They also loan equipment, such as walkers and wheelchairs, at no charge. Turnstone Center is the only organization in northeast Indiana that provides therapeutic services on a sliding fee scale to persons with physical disabilities, and over 95 percent of all clients receive services at a reduced rate.

Turnstone of Tomorrow is a five-year dream come true that was initiated when Turnstone Center’s Chairman of the Board challenged his team to dream about what they would do with one million dollars. What transpired was 18 million dollars worth of “projects that would allow more accessibility, more services for people with disabilities, and make us a premier location in the nation for people with disabilities,” says Cindy Geisman, Turnstone’s chief operating officer. Through extraordinary donor and partner support, that dream is coming true. This NMTC project includes a 125,000 square foot addition named the Plassman Athletic Center for expanded sports, recreation, and wellness programming. At the heart of the addition is a new 65,000 square foot field house complete with four collegiate-sized basketball courts; a 230 meter six-lane track; a fitness center that doubles its current capacity; a warm water therapy pool with zero-depth entry, chair lift, transfer wall and stairs; fully accessible bathrooms, locker rooms and showers; and administrative offices.

Community Outcomes

The Turnstone Center will serve 2,750 total people per year, a 30 percent increase. Not only does this provide countless more opportunities for people with disabilities, it makes significant strides in positioning Turnstone Center as the nation’s gold standard for empowering individuals with disabilities.

With total project costs of $17.7 million, FWNMRF’s $8 million of NMTC Allocation was co-invested with $2 million of NMTC Allocation from PNC Community Partners, Inc. In addition, the project was leveraged with over $5.3 million of PNC Bank debt, philanthropic grants, and Project Sponsor funds. “Some people describe this as the happiest place on earth for people with disabilities,” says Geisman. “Every employee believes it could be any one of us or a family member needing our services. We never lose sight of the vision.”

“The City of Fort Wayne’s CDE considers TAG an important partner in managing our NMTC projects. From closing consultation to the day to day compliance activities, we value the support received from the professionals at TAG.”
Sharon Feasel, Executive Director, Fort Wayne New Markets Revitalization Fund

TOTAL PROJECT COST:

$17,700,000

 

NMTC ALLOCATION:

$10,000,000

 

FINANCING COMPLETE:

April 2015

 

PROJECT SPONSOR:

Turnstone Center

 

CDES:

Fort Wayne New Markets Revitalization Fund, LLC (FWNMRF)

 

NMTC INVESTOR:

PNC Bank

 

LEVERAGED LENDER:

Turnstone Leverage Lender, LLC

 

ADDRESS:

3320 N. Clinton Street Fort Wayne, IN

 

CENSUS TRACT:

18003003304

 

COMMUNITY OUTCOMES:

125,000 square feet
128 Direct Jobs
Capacity: 2,750

 

LOW-INCOME COMMUNITY:

Median Family Income: 69.8% State/Local Economic Zone

 

Learn More about NMTC Case Study for Turnstone Center for Children and Adults with Disabilities, Inc.