Yili was founded in 2001 by Orlando Lima to provide support services to promising artists. Since then the Foundation has curated three exhibits featuring the artwork of Sanford Biggers, Brett Cook-Dizney, Jonna Twigg, Chris Burnside, Sarah A. Friedman, Alice Alves and Nicanor Cruz.

The Foundation also maintains its own permanent collection. These works have been exhibited at various institutions including the Mead Art Museum at Amherst College and the Zilkha Gallery at Wesleyan University.

In 2003 Yili added art rescue to its repertoire of services. In 2007 the IRS approved the Foundation for 501(c)3 status. Yili is recognized as a non-profit organization and all donations are tax deductible.