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7/15/2004

By Eric Berman

Attorneys for the Humane Society of Indianapolis return to court on Tuesday to discuss ways to stop the organization's financial bleeding.

The Humane Society wants to use a charitable trust donated to the group as collateral for a $1.7 million line of credit to keep the group from going broke next month. Move to Act, a coalition of animal-welfare groups, has objected to breaking into the trust.

HSI Executive director Martha Boden says that as long as the money is just used as collateral that is still the preferred option.

“It allows the trust factor to grow and appreciate,” says Boden. “And it allows the Humane Society to deal with the financial issues it is facing.”

Boden says HSI is looking at some land it owns as possibly being used to help it through the financial crunch.

Move to Act has proposed selling the land to the trust to generate enough money to last a couple of months, while it brings other players to the table to help deal with the money problem.

   
   
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