$1 Million Grant Supports Launch of Student-focused Initiatives
Hanover College has been awarded a $1 million grant by Lilly Endowment Inc. The funding is part of “Charting the Future for Indiana’s Colleges and Universities,” the Endowment’s initiative to help Indiana’s higher education institutions increase effectiveness and financial sustainability.
Throughout its three-phase endeavor, the Lilly Endowment has invited Indiana’s 38 colleges and universities to apply for grants totaling up to $108.2 million. The awards are allocated to help institutions develop and execute strategies to further their educational missions by addressing their key challenges and taking advantage of promising opportunities to enhance their effectiveness and long-term sustainability.
The second phase of the initiative invited institutions to apply for grants of $1 million, $2.5 million or $5 million, based on student enrollment. The funds are designated for significant programs to drive student success, improve the financial condition of institutions and encourage innovation to further institutional missions. Only three Indiana institutions received phase-two grants.
Hanover will utilize the $1 million award to create and support three student-focused initiatives. Two high-demand academic programs will connect the liberal arts with career preparation, while a third component will improve student retention through financial-planning resources.
The Lilly Endowment’s grant will provide start-up funding for the College’s Doctor of Physical Therapy (DPT) program. The hybrid offering, which has been in development for more than two years, received accreditation from the Higher Learning Commission and awaits certification from the Commission on Accreditation in Physical Therapy Education. The program is poised to enroll post-graduate-level students during the 2020-21 academic year and begin classes June 2021.
The Endowment’s funding will also support the creation and implementation of a Multimedia Scholars Program. The curriculum will prepare students from a variety of disciplines for careers in multimedia creation and messaging. The award also provides resources for the acquisition of state-of-the-art equipment and necessary renovations to facilities.
The grant will also support the retention of the College’s at-risk students. The funding will help provide expanded counseling and outreach through financial literacy education and planning, in addition to financial-aid-related document preparation.
“Hanover has a long and proud history of improving student outcomes, stewarding our resources and using innovative solutions to address challenges,” said President Lake Lambert. “The goals of ‘Charting the Future’ align perfectly with Hanover’s approach to financial sustainability.”
Last December, the College secured a $100,000 grant in the first phase of the Endowment’s effort to help institutions research and identify high-impact opportunities they wish to have funded during the second phase. The first phase distributed nearly $6.2 million in planning grants in $100,000-$500,000 in increments based on student enrollment.
The third phase of ‘‘Charting the Future” will involve allocating up to $40 million, on an invitational basis, for significant, large-scale proposals.
About Lilly Endowment Inc.
Lilly Endowment Inc. is a private philanthropic foundation created in 1937 by J.K. Lilly Sr. and his sons Eli and J.K. Jr. through gifts of stock in their pharmaceutical business, Eli Lilly and Company. While those gifts remain the financial bedrock of the Endowment, the Endowment is a separate entity from the company, with a distinct governing board, staff and location. In keeping with the founders’ wishes, the Endowment supports the causes of community development, education and religion and maintains a special commitment to its hometown, Indianapolis, and home state, Indiana.