FOR IMMEDIATE RELEASE
June 24, 2022
Contact: Travis D. Tester, CFRE
Chief Development & Communications Officer
Foster Success received a transformational gift of $5 million from Lilly Endowment Inc., the largest gift in the nonprofit’s 10-year history.
It is one of eight grants totaling $34 million designed to help human services organizations that support residents in central Indiana enhance their long-term impact by building stronger financial futures.
Foster Success will use the grant for long-term organizational growth and sustainability. Of the $5 million investment, $4.6 million will establish an Endowed fund to support strategic initiatives and the remainder of the gift will support Fund Development Capacity Building and Data Quality and Stewardship activities.
Foster Success’s mission is to hear, empower, and support teens and young adults transitioning out of foster care on their journey to self-sufficiency. Foster Success prioritizes the voices of Indiana’s 24,000 teens and young adults with lived experience in the foster care system within each impact area and program. The organization’s approach supports the whole person. Participants are encouraged to apply, if eligible, to all opportunities offered by Foster Success. Our areas of impact include Educational Success, Financial Empowerment, Workforce Readiness, Health & Well-Being, and Youth Engagement.
“We are profoundly grateful for the trust the Lilly Endowment Inc. has placed in Foster Success with this monumental gift,” said Dr. Maggie Stevens, President & CEO of Foster Success. “This gift ensures Foster Success’s crucial work on behalf of those with lived experience in foster care will grow and be sustained for many years to come.”
This is the sixth group of grants Lilly Endowment has made since 2015 to support the long-term sustainability plans of charitable organizations based in central Indiana. Through this effort, Lilly Endowment has made grants totaling $417 million to 70 organizations.
“The grant is designed to help Foster Success build long-term financial strength and resiliency so that it can better weather unexpected and adverse funding changes,” said Ronni Kloth, Lilly Endowment’s vice president for community development. “The grant is not intended to fund ongoing operating support that is essential to meet the day-to-day needs of the people they serve. In fact, we hope the grant helps Foster Success attract additional support for this important work.”
Foster Success is a 501(c)(3) charitable organization that provides financial, educational and social support to foster care youth at a most critical time – when they are about to or have already transitioned out of the foster care system, most often with no family or economic support. Each year in Indiana, about 500 youth age out of the foster care system and into our communities. More information about Foster Success can be found at www.fostersuccess.org, on Facebook, on LinkedIn and on Twitter @FosterSuccessUS.
Lilly Endowment Inc. is an Indianapolis-based, private philanthropic foundation created in 1937 by J. K. Lilly 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 its founders’ wishes, the Endowment supports the causes of community development, education, and religion, and it maintains a special commitment to its hometown, Indianapolis, and home state, Indiana.