Lilly’s death on Dec. 30 at age 94 will trigger the release of hundreds of millions of dollars from her
estate, with perhaps as much as $200 million flowing to the fledgling Ruth Lilly Charitable Foundation.
Lilly Endowment will give The Nature Conservancy in Indiana $1 million for its headquarters building, possibly reducing
the need for extensive borrowing.
Its education focus just might make the endowment more of a jobs engine than the Indiana Economic Development Corp.
Indiana University, which has received nearly $600 million from the endowment over the last three decades, will leverage the
new gift to increase its
scientific discoveries and commercialize life science innovations.
Lilly Endowment Inc. has awarded the Indianapolis Parks Foundation a $7.3 million grant to fund improvements that include
a new pool at Bethel Park on the near-southeast side.
Dubbed the “Indiana Experience,” the exhibits represent the first ticketed tourist attraction at the society’s headquarters building.
The not-for-profit will use the money to fund existing programs, such as the U.S. State Department’s International Visitor
Leadership Program, and begin new ones.
A $2.3 million grant awarded by Lilly Endowment Inc. on Monday will enable the Indianapolis Private Industry Council to continue
a jobs program through 2011.
Lilly Endowment Inc. gave another $7.5 million to a team of education experts at the school’s Center of Excellence
in Leadership of Learning.
The fund has helped more than 6,000 households in six counties pay for housing, utilities and food.
Lilly Endowment will give United Way of Central Indiana $10 million to replenish its capital improvement program, which
helps not-for-profit agencies repair and upgrade their buildings.
Lilly Endowment lost 26 percent of its value in 2008, falling from $7.7 billion to $5.7 billion. What’s different about the
Indianapolis-based endowment is that its most recent loss caps a downward slide that’s lasted eight years.
A commission that has drawn $12.5 million in grants and public money to promote Indianapolis’ artistic side is awaiting word
on its future.
The July 21 announcement by Lilly Endowment Inc. that it will reduce its holdings in Eli Lilly and Co. by $2 billion will have enormous repercussions. It’s meant to decrease volatility in the endowment’s assets, but it also erodes one of Lilly’s key antitakeover provisions.
