The Athenaeum Foundation was established 1991 as an not-for-profit corporation by the name of Socialer Turnverein Corporation with the assumed business name of Athenaeum Foundation, which would be exempt from taxation pursuant to Section 501(c)(3) of the Internal Revenue Code.
The foundation's purpose was to take ownership of the Athenaeum, a historic German-American building in downtown Indianapolis, to raise the funds needed to rehabilitate the structure, to help preserve the integrity of the organizations that occupy the building, to re-establish the Athenaeum as a center of amateur athletics, culture, and the arts, and to re-establish it as a multicultural center with its roots in the city's German-American culture.
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