Personal Interests and Philanthropy
Lilly was modest, a man of simple tastes and traditional values. In politics, Lilly was a conservative Republican; however, he was a friend and supporter of Indiana governor Roger D. Branigin, a Democrat, who shared some of Lilly's personal interests. Lilly was especially interested in history and archaeology and enjoyed reading, writing, music, and art. His wealth allowed him to pursue a wide range of philanthropic interests and hobbies, many of which related to Indiana history. Lilly was also known for his philanthropic activities and as founder of the Indianapolis-based Lilly Endowment Inc. along with his father J. K. Lilly Sr. and his brother J. K. Lilly Jr. In 1937 Lilly with his father and his brother, established the endowment with initial gifts of 17,500 shares of their personal stock in Eli Lilly and Company, valued at $280,000, and made additional financial gifts through 1971. In total, their combined gifts were 32 million shares of pharmaceutical stock, valued at $94 million, with several non-family members contributing additional shares of stock worth an estimated $1.1 million. Lilly served as the Lilly Endowment's secretary/treasurer from 1937 to 1966, as its president from 1966 to 1972, as chairman 1972 to 1975, and as honorary chairman from 1975 to 1977. As of December 31, 2011, the Lilly Endowment "held $6.2 billion in unrestricted assets" and "approved $208.7 million in new grants" to support "community development, education and religion."
For Lilly, philanthropy was "personal, thoughtful, and ambitious." He favored areas that interested him personally and took an active leadership role in a number of organizations that he supported financially, but "his was never a selfish, self-centered philanthropy." Lilly's donations were often anonymous. Lilly chose projects related to archaeology, history, historic preservation, education, and religion, especially when they were connected to Indiana and Indianapolis.
Read more about this topic: Eli Lilly (industrialist)
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