Lilly Endowment’s value holds steady at $5.3 billion

Back to TopCommentsE-mailPrintBookmark and Share

Lilly Endowment Inc.’s assets remained flat last year, at $5.3 billion, as the Indianapolis-based private charitable foundation took a smaller loss on Eli Lilly and Co. stock than it did the previous year.

The endowment, one of the nation’s 10 largest grant-making foundations, disclosed the information in its annual report issued Thursday.

Eli Lilly stock, which accounts for 91 percent of the endowment’s assets, was worth nearly $4.8 billion at the end of 2010, just a 2-percent drop over the end of 2009, the report said..

The decrease in stock value was much less steep than the 11-percent drop that occurred in 2009. Lilly shares staged a rebound late last year, trading as high as $38.06 each in October after falling to a low in 2010 of $32.75 in May. The stock opened at $37.52 Friday morning.

Dividend income received by the endowment, however, fell 19 percent from 2009 to 2010, to $272.7 million.

Income listed as “other” plunged to $2.5 million last year from $110.4 million in 2009, giving the endowment total income in 2010 of $275.5 million, down from $448 million the previous year.

The drop in income led to less grant activity in 2010. The endowment distributed $206.4 million in grants last year compared with $276.1 million in 2009. It also approved $202.7 million in future grants during 2010 to 628 grantees, compared with $282.3 million the previous year.

The endowment must distribute 5 percent of the value of its assets. To meet that requirement, it must donate $217 million this year, the report said.

Of the grants distributed last year, 46 percent of the funds went to education, 31 percent to religion and 23 percent to community development. Most of the money, 73 percent, went to Indiana organizations. Thirty percent, or $62.3 million, went to Marion County grantees.

Lilly Endowment remains among the largest grant-making foundations, according to the Chronicle of Philanthropy’s annual ranking, despite shrinking dramatically in recent years. The foundation was worth more than $8.3 billion in 2005.

Founded in 1937, the foundation has distributed a total of $7.5 billion in grants since its inception.


    I worry about the day the Endowment is "muscled" into selling all their shares---and then its over. I thought this could never happen, but then the Indy Star was bought out and I never thought the Pulliams would sell--but even they got an offer they could not refuse.

    Indiana is unique in this respect. I hope they can stay in the saddle (e.g. Bill Cook and what he and his family have done for Southern Indiana is something little appreciated---any other family would have sold out to China, etc., and been long gone).

Post a comment to this story

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

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ
  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.