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.
