IBJNews

Endowment assets soar $1.2B as Lilly shares climb

Back to TopCommentsE-mailPrintBookmark and Share

The assets of Lilly Endowment Inc. grew by more than $1 billion in 2012 as Eli Lilly and Co. shares increased in value.

As of Dec. 31, the Indianapolis-based philanthropic organization had assets of $7.4 billion, up from $6.2 billion at the end of 2011, according to its annual report released Wednesday. The Indianapolis drugmaker’s stock, which makes up about 90 percent of the total, gained 19 percent over the period.

Founded 75 years ago by the pharmaceutical company namesake’s son and grandsons, Lilly Endowment is one of the largest private foundations in the country.

It paid out $230 million in grants last year and approved another $252.1 million in new funding, the report said.

Of the $230 million awarded in 2012, most went to charitable organizations in Indiana. Lilly Endowment awarded $72.6 million to Indianapolis entities and $79.9 million elsewhere in the state.

The endowment awards grants in three areas of emphasis: religion (which received 38 percent of 2012 funding), community development (36 percent) and education (26 percent).

Of the newly approved grants, 36 percent will go to community development groups, 35 percent to religious organizations and 29 percent to education causes.

Worth $15.6 billion in 2000, the endowment lost value as Lilly shares swooned after the drugmaker lost patent protection for its blockbuster antidepressant Prozac.

In 2006, the endowment announced plans to diversify its holdings—and mitigate its risk—by selling Lilly stock. At the end of 2012, its “other” equity investments were worth $476.5 million, up from $370.8 million the previous year.

Lilly Endowment has distributed $7.9 billion to nearly 9,000 organizations since it was founded in 1937.

___

Click here for more IBJ coverage of Lilly Endowment and its grant-making activities.



 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. If what you stated is true, then this article is entirely inaccurate. "State sells bonds" is same as "State borrows money". Supposedly the company will "pay for them". But since we are paying the company, we are still paying for this road with borrowed money, even though the state has $2 billion in the bank.

  2. Andrew hit the nail on the head. AMTRAK provides terrible service and that is why the state has found a contractor to improve the service. More trips, on-time performance, better times, cleanliness and adequate or better restrooms. WI-FI and food service will also be provided. Transit from outlying areas will also be provided. I wouldn't take it the way it is but with the above services and marketing of the service,ridership will improve and more folks will explore Indy and may even want to move here.

  3. They could take the property using eminent domain and save money by not paying the church or building a soccer field and a new driveway. Ctrwd has monthly meetings open to all customers of the district. The meetings are listed and if the customers really cared that much they would show. Ctrwd works hard in every way they can to make sure the customer is put first. Overflows damage the surrounding environment and cost a lot of money every year. There have been many upgrades done through the years to help not send flow to Carmel. Even with the upgrades ctrwd cannot always keep up. I understand how a storage tank could be an eye sore, but has anyone thought to look at other lift stations or storage tanks. Most lift stations are right in the middle of neighborhoods. Some close to schools and soccer fields, and some right in back yards, or at least next to a back yard. We all have to work together to come up with a proper solution. The proposed solution by ctrwd is the best one offered so far.

  4. Fox has comments from several people that seem to have some inside information. I would refer to their website. Changed my whole opionion of this story.

  5. This place is great! I'm piggy backing and saying the Cobb salad is great. But the ribs are awesome. $6.49 for ribs and 2 sides?! They're delicious. If you work downtown, head over there.

ADVERTISEMENT