Lilly: $128-Million to Higher Education

The nation’s wealthiest foundation, the Lilly Endowment, in Indianapolis, has announced that it will give $128-million to help colleges and universities. That amount is almost one-third of the $413-million that the $12.7-billion fund plans to award this year.

The endowment awarded $42-million to the College Fund/U.N.C.F. to help historically black colleges and universities pay for capital projects, scholarships, and curriculum development and to provide faculty compensation.

Lilly also dedicated $85.6-million for two new programs to aid Indiana colleges and universities. Of that, $25.6-million will be used for the Indiana College Preparatory Program, which will seek to increase the number of adults with a baccalaureate degree.

An additional $60-million will be dedicated to a new capital-improvement program to help the state’s private colleges and universities pay for facilities and equipment. Grants ranging from $500,000 to $5-million will be awarded to the state’s regionally accredited private two- and four-year colleges and universities.

For more information, contact Gretchen Wolfram, Communications Director, the Lilly Endowment, 2801 North Meridian Street, Indianapolis 46208-0068; (317) 924-5471.