(New Albany) The Community Foundation of Southern Indiana has received a grant of $2 million as part of Lilly Endowment Inc.’s seventh phase of its Giving Indiana Funds for Tomorrow (GIFT) initiative. With GIFT VII, Lilly Endowment is making up to $125 million available to help Indiana community foundations strengthen the towns, cities and counties they serve.
Community Foundation of Southern Indiana (CFSI) can use this matching fund grant to build our financial assets and support our charitable activities. At least two-thirds of the matching fund grant must be designated to support the growth of CFSI’s unrestricted endowment, the Community Impact Fund, which over time will provide flexibility to help the foundation to meet community needs. Lilly Endowment will provide $2 for every $1 contributed to CFSI’s unrestricted endowments during the matching period, October 1, 2018, through December 31, 2020.
CFSI may choose to designate up to one-third of the matching fund grant to support the foundation’s own operating needs or specific community or charitable projects, including helping individuals start their own charitable funds. Lilly Endowment will provide 50 cents for every $1 that the Community Foundation of Southern Indiana raises during the matching period for these purposes.
Linda Speed, President and CEO of the Community Foundation of Southern Indiana, said “We are very thankful to Lilly Endowment and excited about what the match opportunity could mean for our community.” She continued, “Last year, our endowments helped us make a difference in the lives of more than 72,000 people in Clark and Floyd counties. Thanks to the generosity of Lilly Endowment, and with help from our generous community to meet this match, we will be able to increase the impact we have in our community and address our region’s greatest needs.”
The Community Foundation of Southern Indiana was founded in 1991 as the region’s partner, resource and steward in philanthropy. CFSI manages $116 million in charitable assets and over 240 individual funds – each of which supports the unique charitable intent of the donor who established the fund. Annually, the Foundation awards millions in grants and scholarships to support our community and is a National Standards certified community foundation.
The GIFT initiative is part of Lilly Endowment’s grantmaking to strengthen Indiana communities and has been a priority of the Endowment since the first phase of GIFT in 1990. The initiative’s primary aim is to help Indiana community foundations develop the philanthropic capacity to identify, prioritize and address local opportunities and challenges.
To encourage the engagement of CFSI’s board of directors, the Endowment also will award an additional $100,000 unrestricted grant if the foundation achieves 100 percent financial support from our board members during the period January 1, 2019, through June 30, 2020.
Starting in 2019, CFSI will have the opportunity to apply for more funds through GIFT VII’s community leadership grants. This component includes both planning and implementation grants, which are available to help the foundation deepen its understanding of the challenges and opportunities facing its community; convene key local stakeholders and explore how it can effectively play a leadership role in implementing initiatives and strategies that enhance the quality of life in Clark and Floyd counties.
Lilly Endowment Inc. is an Indianapolis-based private philanthropic foundation created in 1937 by three members of the Lilly family – J.K. Lilly Sr. and sons J.K. Jr. and Eli – through gifts of stock in their pharmaceutical business, Eli Lilly & Company. The Endowment exists to support causes of community development, education and religion. Lilly Endowment’s community development grantmaking is designed to support efforts that enhance the quality of life in Indianapolis and Indiana.