Hanover College is pleased to announce that it has recently secured a grant of $100,000 from Lilly Endowment Inc. The grant was issued as part of Lilly Endowment’s “Charting the Future for Indiana’s Colleges and Universities” initiative that is designed to help Indiana’s higher education institutions increase effectiveness and financial sustainability.
“Charting the Future” has three phases of grantmaking, which will ultimately total $108.2 million in total grants. The first phase distributed nearly $6.2 million in planning grants in $100,000-$500,000 in increments based on student enrollment. Funding from the first phase is designed to help institutions research and identify high-impact opportunities they wish to have funded during the second phase.
Phase 2 of the initiative will invite institutions to apply for grants of $1 million, $2.5 million or $5 million, based on student enrollment. These funds are to be used for significant programs to drive student success, improve the financial condition of institutions, and encourage innovation to further institutional missions. The third phase of ‘Charting the Future” will involve allocating up to $40 million, on an invitational basis, for significant, large-scale proposals.
“We are thrilled to have been awarded funds in the initial phase of the Charting the Future initiative and will be putting the grant money to good use,” said Lake Lambert, president of Hanover College. “Hanover has a long and proud history of improving student outcomes, stewarding our resources, and using innovative solutions to address challenges. The goals of Charting the Future align perfectly with Hanover’s approach to financial sustainability.”
To learn more about this initiative and their selection process, please read the full Lilly Endowment news release.
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.