SMCF Annual Report

Lilly Endowment: A Six Figure Challenge

Lilly Endowment Six Figure Challenge

South Madison Community Foundation has received a grant of $250,000 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.

South Madison Community Foundation will use this matching fund grant to build our financial assets and support our charitable activities by building the unrestricted Bright Future 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 South Madison Community Foundation’s Bright Future Fund during the matching period, October 1, 2018, through December 31, 2020, or until the $250,000 match has been met, whichever is sooner.

The GIFT initiative is part of Lilly Endowment’s grantmaking to strengthen Indiana communities and has been a priority of Lilly 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.

The South Madison Community Foundation was begun as a result of the very first GIFT initiative, when a small group of local community leaders seized the opportunity to create a permanent source for charitable support to meet local needs or opportunities. Since that time, South Madison Community Foundation has awarded over $5 million in grants and scholarships while building assets of $10 million for future giving.

South Madison Community Foundation Executive Director Tammy Bowman said, “Our founders took on the original GIFT matching challenge because they recognized the opportunity to touch the future of their community. Because of that foresight, we have resources to support today’s residents and to build additional opportunities for tomorrow.”

Starting in 2019, South Madison Community Foundation 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 South Madison County, including the towns of Markleville, Pendleton, Ingalls, Lapel, and all of the fertile areas in between.

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.

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