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:
 
thisissue1-092914.jpg 092914

Subscribe to IBJ
  1. Here are a few candidates for this new group, "ripped from the headlines." First up, that bizzaro State Senator Brent Waltz; secondly, the unethical Todd Huston, and his contractual arrangements scheme; Finally, but not least of all, the dishonorable Eric Turner. What sayeth you Greg Zoeller?

  2. Good day. I can't hide this great testimony that take place in my life I will love everyone to know it and be partaker that is why I always place it on answer, I am Mrs,Natalie Cuttaia by name, I live in Texas, United State Of America, I want to thank (Mr.Bruce Brandon) for his kindness upon my family life. I never knew that there is still nice lender like this on internet and earth here. Just some Months Back, I was in search for a loan of $100,000,00 as I was running out of money for feeding and rent. I was scammed $6,800 Dollars and I decided not to involve my self in such business again but a Friend of my introduced me to a loan firm due to my appearance and doings. And I told him that I am not interested of any loan deal anymore but he told me that there is still a nice lender who he will recommend me to, and I made a trial and I am most grateful lucky am I today, I was given a loan amount of $100,000.00usd, by this great Company (Bruce Brandon Loan Company) managed by (Mr.Bruce Brandon) If you are in need of a genuine or legit loan or financial assistance and you can be reliable and trusted of capable of paying back at the due time of the funds I will advice you to, contact him via: ( bruce.brandon071@gmail.com ) And you will be free from scams in the internet. All thanks to Mr.Bruce Brandon You are the one who remove me and my family out of poverty. The reason why i am doing this is that, i promise Mr.Bruce Brandon that if i truly got my loan, i will advertize his company and bring customers to his company. Contact him via ( bruce.brandon071@gmail.com )for the Loan you have been looking for..

  3. Hello, We are firm Organization formed to help people in needs of helps,such as financial help. So if you are going through financial difficulty or you are in any financial mess,and you need funds to start up your own business,or you need loan to settle your debt or pay off your bills,start a nice business, or you are finding it hard to obtain capital loan from local banks,contact us today via email mrsroseberrywilkinsfunds.usa@gmail.com So do not let these opportunity pass you by because Jesus is the same yesterday, today and forever more. Please these is for serious minded and God fearing People. Your Name: Loan Amount: Loan Duration: Valid Cell Phone Number: Thanks for your understanding to your contact as we Await Regards Management Email:mrsroseberrywilkinsfunds.usa@gmail.com

  4. The question is, where could they build a new stadium? It seems in the past year, all the prime spots have been spoken for with potential projects. Maybe in the industrial wasteland area a block past Lucas Oil? I think it needs to be close to the core, if a new stadium is built.

  5. Aldi is generally a great shopping experience. Still, I'm sure YOU wouldn't want to shop there, which I consider a positive.

ADVERTISEMENT