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What is the difference between the Lilly company and Lilly Endowment?

April 26, 2017COMPANY difference lilly lilly endowment

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What is the difference between the Lilly company and Lilly Endowment?

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Eli Lilly and Company was founded in 1876 by Col. Eli Lilly. Three subsequent members of that family, J.K. Lilly Sr. and his sons Eli and J.K. Jr., founded Lilly Endowment in 1937 with gifts of stock in the pharmaceutical company. While stock in the company is the Endowment’s foremost asset, the Endowment is separate from the company. The Endowment, a private foundation, is in a different location, has a different board of directors, and is not linked to the company, except for the stock it holds.