About Lilly Endowment Inc. Lilly Endowment Inc. is a private 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, it is a separate entity from the company, with a distinct governing board, staff and location. In keeping with its founders' wishes, the Endowment supports the causes of community development, education and religion. Although the Endowment maintains a special commitment to its founders' hometown, Indianapolis, and home state, Indiana, it also funds programs throughout the United States, especially in the field of religion.