CONTACT: Sheba Sands, (773) 998-1776, ssands@truthinaccounting.

org Chicago-based Truth in Accounting Awarded Two Grants from Highly Respected Foundations CHICAGO As the philanthropic community further scrutinizes potential grantees to ensure its resources are put to effective use, Chicago-based Truth in Accounting today announced it was awarded two grants that will help its mission of making accurate information about state financial conditions available to the public through the news media. The $45,000 McCormick Foundation grant funds efforts to expand collaboration with journalists on the topic of state financial data, leveraging Truth in Accountings new State Data Lab tool. The $80,000 Searle Freedom Trust grant will support efforts already begun to fund and promote Truth in Accountings State Data Lab - a new website that contextualizes and visualizes state financial data for citizens, journalists, elected officials, think tanks and analysts. StateDataLab.org We are pleased that the McCormick Foundation and the Searle Freedom Trust, two highly regarded foundations with a history of funding successful programs, chose to fund Truth in Accountings efforts to make state financial data accessible to journalists and concerned citizens, said Truth in Accountings founder and CEO Sheila Weinberg. These grants will help us get the truth out about state finances, Weinberg continued. Journalists seek the best, most credible information when creating their stories. Our goal is to provide them not only with the information state financial reports hide, but also to give them opportunities to explain how antiquated accounting rules and the resulting unfunded liabilities affect peoples lives directly. We all know the deplorable financial condition of Illinois and other states, said Clark Bell, Director of the Journalism Program at the McCormick Foundation . This project has strong potential to assist journalists in uncovering accounting tricks and fiscal irresponsibility. Kimberly O. Dennis, President and CEO of the Searle Freedom Trust, said, "We look forward to seeing you bring transparency to the state budgeting process."

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About the Robert R. McCormick Foundation Robert R. McCormick Foundation is committed to fostering communities of educated, informed and engaged citizens. Through philanthropic programs, Cantigny Park and museums, the Foundation helps develop citizen leaders and works to make life better in our communities. The Foundation was established as a charitable trust in 1955, upon the death of Colonel Robert R. McCormick, the longtime editor and publisher of the Chicago Tribune. The McCormick Foundation is one of the nation's largest foundations, with more than $1 billion in assets. To learn more about the McCormick Foundation visit www.McCormickFoundation.org.

About the Searle Freedom Trust The Searle Freedom Trust was founded by Daniel C. Searle in 1998 to foster research and education on public policy issues that affect individual freedom and economic liberty. Through its grant making, the foundation seeks to develop solutions to the countrys most important and challenging domestic policy issues. To learn more about the Searle Freedom Trust visit www.SearleFreedomTrust.org.

Truth in Accounting
1500 Skokie Boulevard, Suite 304 Northbrook, IL 60062 Tel (847) 835-5200 Fax (847) 835-3470

truthinaccounting.org

statedatalab.org

facebook.com/truthinaccounting

@truthin on Twitter