History
The foundation is the successor to the Modern Poetry Association (previous publisher of Poetry magazine), which was founded in 1941. The magazine, itself, was started in 1912 by Harriet Munroe its first publisher, and an art critic for the Chicago Tribune. Today, the Poetry Foundation is one of the largest literary foundations in the world.
In 2003, Poetry magazine received a grant from the estate of Ruth Lilly originally said to be worth over $100 million, but which grew to be about $200 million when it was given out. The grant added to her already substantial prior contributions.
The magazine learned in 2001 that it would be getting the grant. Before announcing the gift, the magazine waited a year and reconfigured its governing board, which had been concerned with fund-raising. The foundation was created, and Joseph Parisi, who had been editor of the magazine for two decades, volunteered to head the new organization. Christian Wiman, a young critic and poet, succeeded to the editorship in 2003. Parisi resigned from the foundation after a few months.
The new board used a recruiting agency to find John Barr, a rich executive and published poet, to head the foundation.
Read more about this topic: Poetry Foundation
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