N. Clay Robbins, the president and CEO of the Lilly Endowment, has been given the additional title of chairman at the Indianapolis-based private charitable foundation.
Central Indiana's economy is diverse, but Lilly is such a behemoth that its ups and downs reverberate statewide.
Thomas Lofton, who died Friday, provided legal counsel to the Indianapolis foundation for decades before becoming its chairman in 1993.
Assets in 2014 rose from $7.7 billion to $10.1 billion, a 31-percent surge. The value of the endowment now has nearly doubled since closing 2010 at $5.3 billion.
The funds will help providers around Indiana improve curricula, build classrooms, educate parents about the importance of high-quality child care and education, and support professional development for teachers.
The endowment hopes to expand educational MBA programs, including one at the University of Indianapolis, to give business skills to more principals and superintendents at Indiana public schools.
More than two-thirds of its grants in 2013 went to groups in Indiana, according to the philanthropic organization’s newly released annual report.
Indianapolis-based Lilly Endowment sold 150,000 shares of Eli Lilly and Co. stock on Monday, resuming a short-lived asset diversification plan suspended when stock prices swooned in 2008.
The Indianapolis Neighborhood Housing Partnership will use the funds to help qualified residents purchase homes and revitalize their neighborhoods.
The Lilly Endowment will give nearly $63 million in grants to 39 Indiana colleges and universities to boost job prospects for their graduates, pushing the endowment’s anti-brain-drain campaign to $120 million over the past decade.
The institute aims to attract 100 new scientists to Indiana to conduct research and development work aimed at launching new therapies for metabolic diseases.