Saturday, March 27, 2010

Tracking America's leading Foundation endowments

The nonprofit world might not be as interested in tracking the ups and downs of Wall Street as they are the financial fortunes of the major Foundation endowments in the universe of philanthropic grant makers. Granted, the success of Wall Street is sure to effect these endowments because of their investment portfolios, but not all of the wealthiest endowments are as diversified as you might think. Here is one example.
clipped from
Lilly Endowment's
value plunges versus
its peers
Hard economic times for Lilly Endowment
continue, threatening to reduce the
amount of money that goes to Indiana
charities such as food pantries and arts
The endowment's 2009 value dropped an
estimated $1 billion, or about 15 percent,
in a year when the S&P stock index
gained more than 19 percent.
The endowment is heavily invested in
drug maker Eli Lilly & Co. stock, which
has been on the decline since the
company lost its patent on the anti-
depression blockbuster Prozac in 2001.
Like other endowments, Lilly provides
grants each year based on a percentage
of the value of its fund. As the fund
shrinks, the amount of grants also could
Once the second-largest charitable
endowment in the country, Lilly dropped
to No. 5 in 2008 and No. 9 in 2009.
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