The Duke Endowment, an independent philanthropic organization based in Charlotte, N.C., recently announced a $4.5-million donation to the University that will be used to provide further financial support for students from the Carolinas, to strengthen a variety of University programs and to improve various campus facilities.
Although the decision about which programs require additional funding rests with the provost, certain programs have been consistently supported by the endowment. For example, said Mimi O'Brien, director of corporate and foundation relations for the University, the endowment has been supporting the James B. Duke 100th Anniversary Fellowship Fund for graduate students for more than seven years.
Similar to other philanthropic organizations, the endowment pledges money in the form of grants in order to achieve its stated objectives, O'Brien said. Analogous to gifts, the University does not repay funding from the grants.
Several University segments benefited directly from this year's award. The Mary D.B.T. and James H. Semans Directorship of Duke University Museum of Art, for instance, received $1 million in endowment funds-part of a $5-million pledge in 1991 in honor of Mary D.B.T. Semans, chair of endowment and University trustee emerita, and James Semans, professor emeritus of surgery.
The grant also provided $1.4 million for the Benjamin N. Duke scholarship program, which offers several need-based scholarships and 10 merit-based scholarships to University students from the Carolinas. The tuition grants allow students to graduate with less debt than loans would permit.
The endowment has also pledged $1 million in honor of Doris Duke, as well as this year's $250,000 contribution, to the Doris Duke Memorial in the Sarah P. Duke Gardens.
Founded by James B. Duke in 1924, the endowment provides support in areas of education, health, child care and rural churches. "It was established to serve the people in North and South Carolina and it only gives grants to organizations in that area," O'Brien said.
The endowment, which currently boasts assets of about $1.5 billion, grants money in two forms, O'Brien said: One grant provides yearly operating support and the other donates money to programs for which the University has requested financial assistance, O'Brien said. Although the University remains the Endowment's primary beneficiary, it also provides support for Furman University, Davidson College and Johnson C. Smith University.
The application process is a yearly endeavor for the University. Officials generally requests $2.9 million each year and receive special gifts-such as the Semans directorship and the Doris Duke Memorial-to supplement this annual request, O'Brien said.
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