$100 Million + $80 Million – Soon You’re Talking Serious Money

A few more details about Ruth Lilly’s $100 million gift to Poetry Magazine this week. “According to local court records, Lilly also donated at least $80 million to Americans for the Arts, an advocacy and educational group based in Washington. Its president and CEO, Robert Lynch, said that his group’s annual budget is currently $8 million and that its endowment is less than $1 million.” And this: “In 1981, a court declared Lilly mentally incompetent, and the control of her estate was turned over to her brother, Josiah K. Lilly III. Since his death, her lawyer, Thomas Ewbank has served as her attorney. National City Bank in Indianapolis has managed her estate, now worth about $1.2 billion. Nonetheless, she can make her wishes, Ewbank said.”