An Evolving Cayman Vision

Ken Dart’s relationship with the Cayman Islands began in the late 1980s, when members of the Dart family first visited. The Dart family was first drawn to Grand Cayman because of its breathtaking and serene beaches as well as its thriving marine environment. These natural benefits coupled with a sophisticated financial infrastructure, a growing tourism industry, and a diverse and talented workforce, all came together to convince Ken Dart to purchase the West Indian Club in 1994.

Since his purchase, Ken Dart has stayed true to his vision of creating a mixed use community in this beautiful space. He embraces new urbanism, which would create residential, commercial and business spaces that’d be linked together through mutual community areas. This way, he would be creating a living town, rather than just another subdivision. Dart Realty (Cayman) Ltd., brought Camana Bay to life, and in doing so, introduced the first new urbanism development to the Caribbean.

With Camana Bay’s success, the philanthropic Ken Dart recognized his responsibility to extend his impact on Grand Cayman beyond Camana Bay. While Camana Bay was designed with future generations in mind, there are societal improvements that can be accomplished today. With this in mind, Ken Dart helped establish several different ways to give back to the Cayman Island community.

Philanthropically, Dart Enterprises is invested in helping to establish a more advanced education system in Cayman. Dart recognized that the future of Cayman depends on a well-educated population, so, as part of the development of Camana Bay, the Cayman International School was funded and created.

This 13-acre campus provides a world-class educational facility that provides education to students from pre-K through Grade 12. Dart has also established scholarships for local Caymanian students that helps cover the cost of high school and other higher education options.

Dart Enterprises has also made efforts to support local entrepreneurs. Ken Dart’s companies help promote local businesses through numerous events and recurring activities on the island. For example, the Farmers & Artisans Market hosted on Wednesdays presents an opportunity for local produce and goods to be sold in Camana Bay, offering residents and tourists a unique opportunity to scoop up authentic Caymanian goods. Dart Cayman has also sponsored “Made In Cayman”, a series of short documentaries that showcase the diverse variety of local products made in the Cayman Islands.

Ken Dart’s philanthropic endeavors extend even further, with new sponsorships and grants announced often. These various endeavors support creating a safe and more educated population that will help Grand Cayman continue to enjoy the highest standards of living.

Understanding the Tax Credit Program for Community Investment

The Finance Authority of Maine (FAME)is administering the Maine New Markets Investment Program which permits income tax credits for investments in certain communities in Maine. The program is modeled after the federal New Markets Investment Program. Qualifying investments must be equity investments made in approved Community Development Entities (CDE). The funding for the program is being furnished by Maine Revenue Services and the Maine Department of Economic and Community Development.

There are several requirements for an investment to qualify. The Community Development Entity must be certified by the United States Secretary of the Treasury. The Entity must have an agreement with the Department of Treasury’s Community Financial Institution (CDFI) Fund not subject to cancellation or revocation. The agreement must have Maine in its service area. Finally, there are five qualifying questions of which four must be answered in the affirmative. A full list of the qualifying questions is available on the FAME website at the link below.

The Community Development Entity may also apply for allocation of tax credit authority. The maximum allocation is capped at $62,500,000.00 per Community Development Entity. If approved by FAME, the tax credit can be up to 39% of the eligible investment. The allocation is taken over a period of seven years. There are various conditions which must be met by the CDE in order to be able to utilize the allocation program. There are various rules regarding reporting requirements for a CDE which has been awarded an allocation. If the CDE violates any rule relating to the allocation including reporting requirements, 36 M.R.S.A. Section 5219-HH allows for the recapture of the tax credits already allocated.

Investors who are interested in participating in this program may obtain more information at the FAME website [] or by contacting FAME directly. The website contains a complete listing of CDE’s which have been awarded tax credit allocation authority and contact information. There is also a link to the application for the Maine New Markets Capital Investment Program Certification on the website for investors.

Yousef Al Otaiba Brings Smiles to Young Faces with Philanthropic Efforts

The Joseph E. Robert, Jr. Prize for Philanthropy has recently been awarded to Yousef Al Otaiba, U.S. ambassador of the United Arab Emirates. In addition, his wife Abeer Al Otaiba, a well-respected philanthropist in her own right, was awarded by the Children’s National Health System.

The Children’s National Health System has been working with children since the late eighteen hundreds and has consistently been ranked in the top ten in pediatric hospitals in the United States. The Al Otaiba’s have been working closely with the organization and have provided a great deal of money and support over the years. Their donations have led to advancements in pediatric surgical innovation, which has helped to create pathways to health for a lot of young children that are suffering.

When Yousef and Abeer Al Otaiba recently received their award, the Children’s National Health System was addressed by the CEO of the organization, Kurt Newman. Newman, who stated that they were honored to present the award and that there are few people that have given as much time and money to help the organization over the last decade as the Al Otaibas.

Children’s National currently has a vast team of doctors, surgeons, hospitals and ambulances set up to assist local children in any medical problems that may arise. The level of service that they provide to the community would absolutely not be possible if it were not for amazing people like the Al Otaibas, who could not be more thrilled to be a part of helping an organization that is dedicated to helping those children in need.

The couple has had an integral part in helping children in the Washington area, but they have also been in great support of children all over the world and are described as fulfilling the true meaning of what it means to be an Ambassador.

Yousef Al Otaiba has been part of creating major medical centers around the world for children, such as the Sheikh Zayed Institute for Pediatric Surgical Innovation created in 2009. This proved to provide a large advancement in surgical care that can be provided to children, as well as the development of various safe pain medicines that children can take.

It goes without saying that Yousef Al Otaiba is a great man that cares a great deal about the well-being of children and Children’s National could not be more thrilled to present him this award.

Energy Conservation Company Making Impressive Strides

The focus of the new millennium in both business and community sectors is undoubtedly based on both reducing humanities environmental impact and developing efforts toward reversing the negative effects that have already began to have a substantial effect. For this reason, companies that focus on such are working very hard to make great strides in their field. Recently, Cenergistic Inc. was celebrated as being one of those companies.

With its behavioral-based approach to energy consumption, Cenergistic is dedicated to helping other organizations adopt a positive behavioral change in order to reduce their energy use. Saving most clients up to 26% on energy costs, working with Cenergistic not only is an environmentally-friendly endeavor but also is a profit building one. Requiring no equipment, risk, or significant investment, seeking help from Cenergistic literally pays for itself. In fact, because the focus of their energy-reduction strategies is behavioral, the results carry on long after their work is done. Offering the secrets to continuous profit increases through a reduction in operation costs as well as recognition with Energy Star and other environmental programs, Cenergistic proves invaluable in many areas.

Winner of the Energy Star Partner of the Year Award for sustained excellence, Cenergistic’s efforts are highly recognized. They have helped to achieve Energy Star status for over 4,500 businesses, educational institutions, churches, and health care organizations since 2000. Saving their clients in excess of 3 billion dollars, Cenergistic’s efforts toward conservation are both comprehensive and well documented. As a celebrated Energy star member, they also have achieved impressive numbers in regard to recruiting, promotion, and the facilitation of Energy Star approved conservation strategies and products. There simply are not many profitable organizations that can boast this level of benevolence.

Although adopting alternative energy systems is also an effective way to help the environment, employing Cenergistic’s strategies do not cost a fortune; but rather, they save you a fortune all while achieving similar results. In fact, if Cenergistic’s strategies had guided behavior decades ago, the environment would not have endured the detrimental effects that many work hard at reversing today. A worthy recipient of many awards and accolades, there is no doubt this energy-focused corporation will continue to impress well into the future.

New Markets Tax Credit Still Making a Splash

The New Markets Tax Credit was initially implemented to help draw both attention and revenue in a positive fashion to communities that would benefit from revitalization efforts as well as business who would benefit from tax credits and a shift in revenue flow. From approximately 2003 through 2012, that revenue stream was generated by way of direct private investors within specified companies whose contributions not only helped boost the solvency of the business, but increased value in the surrounding areas and increased jobs in many instances too, thus generating a true win-win scenario.

The New Markets Tax Credit, also called the NMTC, was approved by both political parties on its inception, and although it was set for expiration in 2014, it does still stand to be renewed and efforts are presently underway to have it extended indefinitely. The associated tax credits for participating business, the creation of jobs, and the increase in value within low-income communities would go a long way to being reversed with the continuation of this program.

In particular, the NMTC places special emphasis and focus on areas where census findings have shown extreme poverty (measures are established if family incomes do not exceed 80% or more of the median income), with locations in areas like the Maine New Markets Tax Credit. While businesses are rewarded with tax credits for participating in the program, individual investors are also provided with tax credits as well and may qualify for interest on their contributions. Such an act creates a sense of community pride for companies who are able to build on their strength, add employees, and gives job seekers and employees a stable work environment as a bridge out of poverty and a renewal of their home and work environments alike.

With the positive incentives given by the NMTC, several influential political figures are lobbying directly for its further promotion and renewal, and it is hoped that the program will not only be renewed but will expand into other needy regions too and grant aid to those who need it the most in hopes of placing them on a road back to economic and regional recovery and a strong sense of pride for their future.

Students Raise Over $84,000 During Dance Marathon

Hundreds of teens participated in a Dance Marathon held Saturday, May 16, 5:00 p.m. – Midnight at Niles North High School, 9800 North Lawler Street, Skokie, IL. The Dance Marathon culminated a year-long series of fundraising efforts held throughout the school year to benefit the Daniel M. Horyn Foundation, formed in the memory of a beloved Niles North teacher who lost his courageous battle with esophageal cancer on September 9, 2013.

Dance Marathon (DM), started in 2003, has become District 219’s coolest tradition. At this year’s event, students, faculty members from Niles North and West High Schools, and community members came together and danced, sang, and partied with fellow District 219 students while celebrating the life of Mr. Horyn, as well as helping a great cause. The Honorable George Van Dusen, Mayor of the Village of Skokie, served as this year’s Honorary Chair. A total of $84,366.10 was raised. Approximately 10 percent will go towards the D219 Education Foundation, which supports D219 students in financial need.

Continue reading…


University of Cambridge Receives $27 Million for Economics Research

The University of Cambridge has announced a $27 million gift from alumnus Bill Janeway and his wife, Weslie, to the Faculty of Economics and Pembroke College.

The gift will be used to establish the Janeway Professorship of Financial Economics, a linked fellowship in economics at Pembroke, and the Janeway Fund for Economics. The fund will provide support in perpetuity to an institute for fundamental research in economics, as well as funding for postdoctoral fellows, doctoral and research students, visiting scholars, and international conferences.

An American venture capitalist, Bill Janeway received a Ph.D. in Economics from Cambridge, where he was a Marshall Scholar at Pembroke College, and currently serves as a visiting scholar in the Faculty of Economics. With his wife, he founded the Cambridge Endowment for Research in Finance in 2001. Weslie Janeway is president of the Pyewacket Foundation in New York City, which supports young investigators in the natural and social sciences as well as community and cultural organizations.

Full article published here.


Dart Sets Standard for Philanthropy

Dart Enterprises is the parent company of a number of subsidiaries, creating a portfolio spanning philanthropic organizations to real estate. With such large scope, the Enterprises’ varied interests have bettered many communities and created many jobs.

For example, Ken Dart ( of Dart Enterprises has begun setting a new precedent for real estate development with his example of new urbanism in Camana Bay. Dart Realty Cayman Ltd. is a subsidiary of Dart Enterprises and the attribution for Camana Bay, Salt Creek (a residential neighborhood), Regatta Office Park and Seven Mile Beach Hotel. The organization thoughtfully created a sustainable community for high quality living, working and playing.

Furthermore, Dart Enterprises parents more subsidiaries that have greatly enhanced life in Camana Bay and built it to what it is today.

DECCO Ltd is built, and is now expanding, The Cayman International School in Camana Bay for students from two years of age to seniors in high school. Creating infrastructure for quality education with a curriculum preparing students for rigorous universities greatly enhances the entire community.

In alignment with Ken Dart’s commitment to education, Dart also offers both high school and university scholarships with the philanthropic organization, Minds Inspired.

The aforementioned is just a brief look at the wide extension of Dart. With two other recognized philanthropic organizations and countless projects funded by the corporation, Dart Enterprises has set a new standard for philanthropy, development and progress.

Philanthropic Washingtonians to Watch in 2015

Both native and transplant Washingtonians have been making headlines recently with generous gifts to causes they care about. Professions, backgrounds, and causes of these philanthropists vary from exec to ambassador, and from arts and educational causes to international aid, but all of the strong support reflects Washington’s philanthropic culture and spirit of stewardship.

Yousef al Otaiba
United Arab Emirates (UAE) ambassador to the United States, Yousef al Otaiba says the U.S. and UAE “are close allies and helping each other is what deep friendship is all about.” The small coastal country has consistently given the U.S. generous gifts over the past several years, including a $150 million gift to the Children’s National Medical Center to research less invasive and pain-free surgeries at the new Sheikh Zayed Institute for Pediatric Surgical Innovation. Al Otaiba himself also personally assists the organization–he and his wife teamed up with Bret and Amy Baier for the Children’s National Medical Center gala last year, raising millions in donations.