Lilly Endowment: Grant Awards Rise, Assets Dip in 2016
Indianapolis-based Lilly Endowment Inc. has released its annual report. The foundation says it awarded grants totaling $452.8 million in 2016, compared to $435.5 million in 2015. Lilly Endowment's total assets from year-to-year dipped to $10.3 billion last year from $11.8 billion in 2015.
The report shows 46 percent of grants received were for community development, 33 percent were for religious organizations and 21 percent went to educational initiatives. Some 68 percent of grants in 2016 were paid to organizations in Indiana, more than half of those were Marion County grantees. Lilly Endowment says most of the grants outside of Indiana went to religious-focused purposes.
The endowment reported decreases in 2016 compared to 2015 in nearly all categories of assets: cash and equivalents, other receivables, investments, Eli Lilly and Co. (NYSE: LLY) common stock and other assets. Diversity equity investments rose by $77 million. Since it launched in 1937, Lilly Endowment says it have distributed $9.4 billion in grants to nearly 9,500 organizations.
You can connect to additional details about the report by clicking here and view the full report below: