How Poetry Magazine Is Spending Its $200 Million Donation
If you haven’t heard this story before, it’s a good one: in 2002, Ruth Lilly, an heir to a fortune built by Indianapolis pharmaceutical company Eli Lilly, donated $200 million to Poetry magazine, which at the time was a modest literary publication with a circulation of 10,000 and an annual budget of $700,000. The Chicago Tribune tells the fascinating story of how this enormous gift changed the game for poetry publishing.
Today, the foundation has a budget of more than $6 million.
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