Poetry Foundation

Poetry Foundation

The Poetry Foundation traces to 2003 when Ruth Lilly, heiress to the Eli Lilly pharmaceutical fortune, transferred approximately $200 million to create a dedicated literary organization. Harriet Monroe had founded Poetry magazine in 1912; the new entity absorbed and expanded that publication while adding grantmaking and public programs. Michelle T. Boone serves as president and CEO; Gwendolyn Perry Davis chairs the board. Capital deployment spans private equity, public equities, and real estate. Confirmed positions include limited partnership interests in Illumen Capital II and Stafford III, plus holdings in Neuberger Berman Real Estate Fund and Neuberger Berman Small Cap Growth Fund. The foundation also retains a beneficial interest in charitable lead trusts tied to the original Lilly gift. Geographic reach centers on the United States with grant activity and events in Chicago and select national venues. The organization employs 30 staff and maintains its sole office at 61 West Superior Street in Chicago. Assets include the headquarters building designed by John Ronan Architects and a 30,000- to 40,000-volume poetry library. Bivium Westfuller acts as outsourced chief investment officer. In 2024 the foundation sponsored Ecos: A Chicago Latine Poetry Festival. Governance separates the endowment from operating activities through a private nonoperating foundation structure. Investment decisions flow through external managers while program decisions remain internal. The architecture reflects a hybrid of grantmaking foundation and asset owner rather than a pure family office or commercial manager.