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Founded | 1937 |
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Founder | Josiah K. Lilly Sr. and sons, Eli Jr., and Josiah (Joe) Jr. |
Focus | Religion Education Community development Indianapolis Indiana |
Location |
|
Method | Grants |
Key people | Clay Robbins (chairman and CEO) |
Revenue (2020) | $929 million [1] |
Expenses (2020) | $822 million [2] |
Endowment (2020) | $21 billion in assets, $187 million in liabilities |
Website | www |
Lilly Endowment Inc., headquartered in Indianapolis, Indiana, is one of the world's largest private philanthropic foundations and among the largest endowments in the United States. It was founded in 1937 by Josiah K. (J. K.) Lilly Sr. and his sons, Eli Jr. and Josiah Jr. (Joe), with an initial gift of Eli Lilly and Company stock valued at $280,000 USD ($4,616,759 in 2015 chained dollars). [3] As of 2020, its total assets were worth $21 billion. [4]
The Lilly Endowment has historically focused on three primary grant areas: community development, education, and Christianity. It is known as the most influential philanthropy in its home city and state. [5] Its funding of projects related to religion is unusually large among foundations. It has given to some politically and religiously conservative causes, especially in the 1960s. [6]
J. K. Lilly Sr. initially served on the foundation board and became its largest contributor. Over time, he donated Eli Lilly and Company stock worth a total of $86.8 million to the foundation, including a $30 million bequest following his death in 1948. J. K.'s sons, Eli and Joe, contributed additional Eli Lilly and Company stock that had a combined value of $6.8 million. Eli also managed the foundation in its early years. [3] [7] The Lilly Endowment's first full-time staff members, Josiah K. Lilly III and G. Harold Duling, were hired in 1951. [8] By the mid-1970s, the foundation staff had increased to 75 and it had moved to larger headquarters at 2801 North Meridian Street in Indianapolis. [9]
The endowment enabled the Lilly family to keep control of the company and continue their charitable giving without major income tax and inheritance tax penalties. [6] As required under the Tax Reform Act of 1969, the Lilly Endowment diversified its holdings, but its assets consist primarily of Eli Lilly and Company stock. [7] In 1998, the Lilly Endowment became the wealthiest philanthropic endowment in the world in terms of assets (estimated value of $15.4 billion) and charitable giving. As of 2014, it remains among the top five in terms of total assets ($9.96 billion). [10] [7] [ needs update ]
The private family foundation is a separate entity from the Eli Lilly and Company pharmaceutical firm, and maintains its headquarters in a different location. With the exception of the Eli Lilly and Company stock that the foundation holds in its portfolio, the Lilly Endowment is not linked to the Lilly pharmaceutical company. The nonprofit foundation has its own board of directors to manage its affairs and an executive committee (trustees) that reviews grant requests. [7] [ better source needed ]
In its history since 1937, the Lilly Endowment has given a total of more than $10 billion to more than 10,000 groups. [11] Although it has provided gifts with a national and global reach, the Lilly Endowment's primary geographic focus has been in Indianapolis and in Indiana. [6] Early recipients include the Indianapolis Community Chest, a forerunner of the United Way, the Children's Museum of Indianapolis, Christ Church Cathedral, among other Protestant and, later, Catholic institutions in the state, and several Indiana colleges and universities, such as Wabash College and Earlham College. [12] Other major gifts helped to fund construction projects in downtown Indianapolis, including the Indiana Convention Center, the Hoosier Dome (the city's first, domed stadium), and restoration of several of the city's historic buildings, including the Hilbert Circle Theater, the Indiana Theater, and grants to construct the Indianapolis Zoo, Eiteljorg Museum of American Indians and Western Art, and sports facilities on the Indiana University – Purdue University Indianapolis campus and elsewhere in the city. [13] It has been a major source of matching grants for civic and arts groups. [14] Since 1987, the Lilly Endowment's Giving Indiana Funds for Tomorrow (GIFT) initiative has funded starting and growing Indiana community foundations. [15]
From its inception the Lilly Endowment has supported numerous religious endeavors. These include the Christ Church Cathedral in Indianapolis. J. K. Lilly Sr. was involved with the church throughout his life, beginning as a choirboy. Upon Lilly's death, a stipulation of his bequest to the church was that it remain in the heart of downtown Indianapolis. Lilly supported a wide variety of religious endeavors, which he considered an important means of promoting character development.[ citation needed ]
Institutions and programs funded by Lilly grants have included:[ third-party source needed ]
Other Lilly Endowment beneficiaries have included:
Over the years, the Lilly Endowment has acquired a collection of important Indiana paintings that were in danger of leaving the state, including works by William Merritt Chase, John Elwood Bundy, and members of the Hoosier Group. The works of art are generally displayed at the endowment offices on North Meridian Street in Indianapolis.[ citation needed ]
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: CS1 maint: multiple names: authors list (link)UNCF, the United Negro College Fund, also known as the United Fund, is an American philanthropic organization that funds scholarships for black students and general scholarship funds for 37 private historically black colleges and universities. UNCF was incorporated on April 25, 1944, by Frederick D. Patterson, Mary McLeod Bethune, and others. UNCF is headquartered at 1805 7th Street, NW in Washington, D.C. In 2005, UNCF supported approximately 65,000 students at over 900 colleges and universities with approximately $113 million in grants and scholarships. About 60% of these students are the first in their families to attend college, and 62% have annual family incomes of less than $25,000. UNCF also administers over 450 named scholarships.
The Koch family foundations are a group of charitable foundations in the United States associated with the family of Fred C. Koch. The most prominent of these are the Charles Koch Foundation and the David H. Koch Charitable Foundation, created by Charles Koch and David Koch, two sons of Fred C. Koch who own the majority of Koch Industries, an oil, gas, paper, and chemical conglomerate which is the US's second-largest privately held company. Charles' and David's foundations have provided millions of dollars to a variety of organizations, including libertarian and conservative think tanks. Areas of funding include think tanks, political advocacy, climate change denial, higher education scholarships, cancer research, arts, and science.
Eli Lilly and Company is an American pharmaceutical company headquartered in Indianapolis, Indiana, with offices in 18 countries. Its products are sold in approximately 125 countries. The company was founded in 1876 by Eli Lilly, a pharmaceutical chemist and Union Army veteran of the American Civil War for whom the company was later named.
Butler University is a private university in Indianapolis, Indiana. Founded in 1855 and named after founder Ovid Butler, the university has over 60 major academic fields of study in six colleges: the Lacy School of Business, College of Communication, College of Education, College of Liberal Arts and Sciences, College of Pharmacy and Health Sciences, and Jordan College of the Arts. Its 295-acre (119 ha) campus is approximately five miles (8.0 km) from downtown Indianapolis.
Eagle Creek Park is the largest park in Indianapolis, and one of the largest municipal parks in the United States. It is located at 7840 W. 56th Street in Indianapolis, Indiana and covers approximately 1,400 acres (5.7 km2) of water and 3,900 acres (16 km2) of land. There are about 10 miles (16 km) of paths within it. Eagle Creek Park serves primarily as a nature reserve. Before coming into the possession of Indianapolis, the land was owned by Purdue University, and by Josiah K. Lilly Jr. before that. The Eagle Creek Park Foundation serves to promote volunteerism and provide funding for the Park and its programs.
Eli Lilly was an American soldier, pharmacist, chemist, and businessman who founded the Eli Lilly and Company pharmaceutical corporation. Lilly enlisted in the Union Army during the American Civil War and recruited a company of men to serve with him in the 18th Independent Battery Indiana Light Artillery. He was later promoted to major and then colonel, and was given command of the 9th Regiment Indiana Cavalry. Lilly was captured in September 1864 and held as a prisoner of war until January 1865. After the war, he attempted to run a plantation in Mississippi, but it failed and he returned to his pharmacy profession after the death of his first wife.
Eli Lilly, sometimes referred to as Eli Lilly Jr. to distinguish him from his grandfather of the same name, was an American pharmaceutical industrialist and philanthropist from Indianapolis, Indiana. During his tenure as head of Eli Lilly and Company, which was founded by his grandfather, the company grew from a successful, family-owned business into a modern corporation and industry leader. Lilly served as the company president (1932–1948), chairman of the board of directors, and honorary chairman of the board.
The Children's Museum of Indianapolis is the world's largest children's museum. It is located at 3000 North Meridian Street, Indianapolis, Indiana in the United Northwest Area neighborhood of the city. The museum is accredited by the American Alliance of Museums. It is 472,900 square feet (43,933.85 m2) with five floors of exhibit halls and receives more than one million visitors annually. Its collection of over 130,000 artifacts and exhibit items is divided into two domains: Arts & Humanities and the Natural Sciences. Among the exhibits are simulated Cretaceous and Jurassic dinosaur habitats, a carousel, a steam locomotive, and the glass sculpture Fireworks of Glass Tower and Ceiling. The museum's focus is family learning; most exhibits are designed to be interactive, allowing children and families to actively participate.
Josiah Kirby "Joe" Lilly Jr. was a businessman and industrialist who served as president and chairman of the board (1953–66) of Eli Lilly and Company, the pharmaceutical firm his grandfather, Colonel Eli Lilly, founded in Indianapolis in 1876. Lilly, the younger son and namesake of Josiah K. Lilly Sr., graduated from the University of Michigan's School of Pharmacy in 1914 where he was a member of the Chi Psi Fraternity. He served in the U.S. Army in France during World War I. At Eli Lilly and Company, where his primary focus was marketing and human resources, he served as vice president of marketing, executive vice president of the company, and president of Eli Lilly International Corporation, before succeeded his older brother, Eli Jr., as company president in 1948 and as chairman of the board in 1953.
Josiah Kirby Lilly Sr., nicknamed "J. K.," was an American businessman, pharmaceutical industrialist, and philanthropist who became president and chairman of the board of Eli Lilly and Company, the pharmaceutical firm his father, Colonel Eli Lilly, founded in 1876. Josiah, the colonel's sole heir, began working at his father’s company at the age of fourteen.
Community foundations (CFs) are instruments of civil society designed to pool donations into a coordinated investment and grant making facility dedicated primarily to the social improvement of a given place. Community foundations are a global phenomenon with 1700 existing around the world, of which over 700 are in the United States. Private foundations are typically endowed by an individual or a single family.
Indiana Landmarks is America's largest private statewide historic preservation organization. Founded in 1960 as Historic Landmarks Foundation of Indiana by a volunteer group of civic and business leaders led by Indianapolis pharmaceutical executive Eli Lilly, the organization is a private non-governmental organization with nearly 6,000 members and an endowment of over $40 million. The organization simplified its name to Indiana Landmarks in 2010.
The Indiana Historical Society (IHS) is one of the United States' oldest and largest historical societies. It describes itself as "Indiana's Storyteller".
IU Michael A. Carroll Track & Soccer Stadium is a 12,100-seat soccer and track and field stadium located in Indianapolis, Indiana, United States. It is the home of the Indiana University-Purdue University Indianapolis Jaguars track and field and soccer teams. It was also the original home of the Indy Eleven.
Ruth Lilly was an American philanthropist, the last surviving great-grandchild of Eli Lilly, founder of the Eli Lilly and Company pharmaceutical firm, and heir to the Lilly family fortune. A lifelong resident of Indianapolis, Indiana, Ruth Lilly is estimated to have given away nearly $800 million of her inheritance during her lifetime, mostly in support of the arts, education, health, and environmental causes in Indianapolis and in Indiana.
Clowes Memorial Hall, officially known as Clowes Memorial Hall of Butler University, is a performance hall located on the campus of Butler University in Indianapolis, Indiana, United States. Opened October 18, 1963, it hosts numerous significant concerts, orchestras, musicals, plays, and guest speakers. Clowes Hall anchors the Butler Arts and Events Center, which includes the Schrott Center for the Arts, Shelton Auditorium, the Eidson-Duckwall Recital Hall, and the Lilly Hall Studio Theatre.
IUPUI University Library is the university library of Indiana University–Purdue University Indianapolis. IUPUI is an urban campus of Indiana University and Purdue University in Indianapolis, Indiana, United States. Indiana University is the managing partner.
The following is a timeline of the history of the city of Indianapolis, Indiana, United States.
Caroline Marmon Fesler was an American art and music patron, cultural philanthropist, and fine-art collector. Her contributions to the Indianapolis, Indiana, arts community included financial support and gifts of fine art to the Art Association of Indianapolis, in addition to serving as a board member of Herron School of Art (1916–1947) and president of the Art Association of Indianapolis (1941–1947). Fesler was also a patron of the Indianapolis Symphony Orchestra and founded the city's Ensemble Music Society. Her major art collecting interests and acquisitions tended toward Post-Impressionist and modernist paintings, although not exclusively, and included paintings by Georges Braque, Paul Cézanne, Marc Chagall, Henri Matisse, Pablo Picasso, Georgia O'Keeffe, Georges Seurat, and Vincent van Gogh, among others. The Marmon Memorial Collection, which Fesler established in honor of her parents, remains an important part of the Indianapolis Museum of Art's permanent collections.
The National Institute for Sports and Fitness (NIFS) building was constructed in 1987. The building works with the IU School of Physical Education and Tourism Management. The building is located on the IUPUI campus and in White River State Park. The fitness center was constructed alongside the Michael A. Carroll Track & Soccer Stadium and the Natatorium to position IUPUI as a major physical education and sports leader for the city. The Indianapolis Tennis Center and the other facilities would host a series of events, competitions, and programs in conjunction with the city of Indianapolis and IUPUI.
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