The Charlotte-based Duke Endowment donated more than $28 million in grants to the University in 2011.
According to a press release Feb. 6, the endowment donated approximately $113 million to organizations in North and South Carolina last year, compared to nearly $110.5 million in 2010. Of the funding, $26,141,781 was allocated to University ventures in 2011.
The 14 grants allocated to the University and its ventures, include $12.5 million to the University for “unrestricted operating support,” $9 million to the Duke University Health System for neuroscience faculty recruitment and $1.25 million for field education scholarships at the Duke Divinity School.
Respectively, DUHS received $10,266,781, the Divinity School received $2,581,000 and the Center for Child and Family Policy received $2,149,687 in total grants.
The endowment was founded in 1924 by James B. Duke to support higher education, children’s services, health care and rural churches in the Carolinas. In addition to Duke, the endowment supports Davidson College, Furman University and Johnson C. Smith University.
With $2.7 billion in assets as of December 2010, the Duke Endowment is one of the largest private endowments in the country. Since its inception, it has awarded more than $2.9 billion in grants. For 2011, the Duke Endowment approved $130 million in new grants, according to the release.
Recent major donations to Duke from the endowment include $80 million for West Union Building, Baldwin Auditorium and Page Auditorium renovations, $75 million for the Financial Aid Initiative, $50 million for a new Learning Center and pediatric facility at the School of Medicine and $15 million to start DukeEngage in 2007.
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