The collection spans the . Office of Alumni Engagement and Development, Your support helps Duke make a difference. As the universitys fiduciary, the board is responsible for Dukes long term health, overseeing and aligning its strategic direction, educational policy, finances and operations with the mission ofthe university. She serves as a board member of the Hollingsworth Funds, the International African American Museum, the South Carolina Historical Society, BlueCross BlueShield of South Carolina and the United Way of Greenville County. Durden, R. (1998). Cecil Trustee Asheville, North Carolina Ravenel B. Curry III Trustee New York, New York Duke Universitys Endowment and The Duke Endowment. The Board of Trustees is the governing body of Duke University. The Duke Endowment has awarded Duke University $10 million to support the university's school of the environment as it addresses the most complex environmental problems confronting society today. Your IP: The Board of Trustees in March approved a $2.5 million grant to help statewide efforts centered on access to health care and sustaining social supports. Daughter of Josiah Charles Trent and Mary Duke (Biddle) Semans. Durden, Robert F.. "Appendix 1 Trustees of the Duke Endowment" In. Durden, Robert F.. "Appendix 1 Trustees of the Duke Endowment". June 30, 2023. Sort by creator (Z-A) relevance date (ascending) date (descending) creator (A-Z) creator (Z-A) title (A-Z) title (Z-A) Number of results to display per page. Standing Committees of the Board of Trustees - Undergraduate Student Opportunities - AY 2023-2024, Standing Committees of the Board of Trustees - Graduate and Professional Student Opportunities - AY 2023-2024, Graduate and Professional Education and Research, Advancing Duke Science and Technology Task Force, Next Generation Living and Learning Experience Task Force, Graduate and Professional Education and Research Committee, Climate Change and Sustainability Task Force, Duke and Durham Today and Tomorrow Task Force. Lucas has served as a Trustee of The Duke Endowment since 2004, as a director of several public and private corporations and as a director and/or trustee on numerous not-for-profit boards. Leanora Minai of OCS is the editor of the 'Working@Duke' edition. Minor Shaw, chair of the Endowment's Board of Trustees, said The Duke Endowment's founder, James B. Duke, was a visionary leader in business and philanthropy who seized opportunities to experiment and innovate. Even as vaccinations spread and hospitalization rates fell, the impact of COVID-19 remained devastating. As of June 30, 2022, about 23% of the endowment was designated for support of financial aid, and 20% was designated for support of specific faculty positions. Profile for DUKE ENDOWMENT (Charlotte, NC - EIN 560529965) including grantees and board members as of 2019 tax year. If the proposal is eligible and complete, the program officer will take it to a committee of the trustees. The Duke Endowment Jan 2002 - Present21 years 5 months President Jean G. Spaulding, MD. Over the past 10 years, DUMAC has been one of the highest-performing university investment managers, recording a three-, five- and ten-year return of 18.9 percent, 16.4 percent and 11.6 percent, respectively. The action you just performed triggered the security solution. All results Grouped by collection. Fridays meeting included discussion of public perceptions of higher education, Dukes current reputation and position, and a recap of the universitys visioning process, Strategy Team 2030, which President Vincent E. Price created at the onset of the COVID-19 pandemic to ensure continued focus on Dukes long-term plans amidst the ongoing public health crisis. This website is using a security service to protect itself from online attacks. The trustees of The Duke Endowment maintain committees for each of the four program areas. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. This rate seeks to balance an inflation-adjusted level of spending with growing the value of investment assets to support future spendingpreserving intergenerational equity. 2 Launching the Endowment: 3 Launching the Endowment: 4 The Endowment and the Four Educational Institutions, 1924-1960. The strategic education program, which was devised by a committee of trustees, administrators and faculty, will guide the board in considering strengths, weaknesses, opportunities, and threats, with a particular focus on how Dukes brand should be leveraged for continued excellence. A $16 million grant from The Duke Endowment will amplify Duke University's efforts to recruit diverse faculty and develop programming that enhances an inclusive environment, President Vincent E. Price announced Thursday. Minor Shaw is president of Micco LLC, a private investment company. Board of Trustees Names Duke Endowment Remove constraint Names: Duke Endowment 1 - 5 of 5 entries. Doris Duke's father, James Buchanan (J.B.) Duke, established the Duke Endowment as a perpetual charitable trust in 1924. We also operate afellowship program to cultivate emerging leaders in philanthropy. 7 The Endowment and Its Educational Beneficiaries, 1960-1994. To the extent that total investment returns exceed the amounts distributed under the approved spending rate, the market value of the endowment increases. Mrs. Shaw was inducted into the South Carolina Business Hall of Fame in 2012. This website is using a security service to protect itself from online attacks. Miss Duke became a trustee of the Endowment in 1933. Connect with Us Mr. Duke designed the fund to be both flexible and enduring, but limited its efforts to the Carolinas and to four program areas: child care, health care, higher education, and rural churches. For the Long Term Pool, DUMAC seeks to achieve an annualized real rate of return of at least 5.0% net of fees to fund the university's spending and to allow for growth of the endowment after considering the effects of inflation. James Duke Hometown: New York, N.Y. In. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. The Duke Endowment is not the name for the university's endowment; rather, it is the name of a Charlotte-based charitable foundation established by the university's founder. Appendix 1 Trustees of the Duke Endowment. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. You can email the site owner to let them know you were blocked. Charlotte, North Carolina 28202 Reviewed the universitys annual financial report with Executive Vice President Daniel Ennis and Vice President for Finance Rachel Satterfield. Performance & security by Cloudflare. PC Feb 1977 - Present46 years 4 months Vice Chancellor for Health Affairs Duke University Jan 1998 -. Duke Endowment trustees on the one hand and the full board on the other might do serious, possibly irreparable, damage to the university. Over the years, growth of the endowment through investment return and charitable giving has enabled the university to provide scholarships and fellowships to students, build faculty excellence, launch new programs and research efforts, and support a wide range of important needs. Duke Today is produced jointly by University Communications and the Office of Communication Services (OCS). This website is using a security service to protect itself from online attacks. (704) 376-0291, Get the latest news from The Duke Endowment. (704) 376-0291, Get the latest news from The Duke Endowment. Access to all other materials is restricted to trustees, officers, and staff of The Endowment and to researchers who have received prior written permission from The Endowment's president, chairman, or their designated representative. Click to reveal The universitys endowment registered a 55.9 percent annual return on its long-term pool, the primary investment vehicle for its assets, bringing the market value as of June 30, 2021, to a record $12.7 billion. Bottom row: Warren Lattimore, David Taylor, Gregory Palmer and Andy Dillon. Appendix 1 Trustees of the Duke Endowment. About Experienced Trustee with a demonstrated history of working in the philanthropy industry. Other than confiding in his wife, Porter, and trustee Bunyan Womble, the harassed president kept his dilemma to himself. Endowment. Hewitt, Benmamoun on why theyre hopeful on making progress on changing campus culture. The endowment is managed by DUMAC Inc., a Board of Trustees-approved nonprofit which also oversees Duke employee retirement assets, health system investments and The Duke Endowment, a private . You can email the site owner to let them know you were blocked. Marcil earned her A.B. Quis ipsum suspendisse ultrices gravida. Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. A: The Duke Board of Trustees has set different minimum funding levels for different types of endowments: 100,000 will establish an unrestricted endowment for a particular school or division, such as the Pratt School of Engineering or the University Libraries. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. The university's endowment registered a 55.9 percent annual return on its long-term pool, the primary investment vehicle for its assets, bringing the market value as of June 30, 2021, to a record $12.7 billion. She is also dean of the school. 800 East Morehead Street The Duke Endowment 1 year 6 months Director, Higher Education Jan 2023 - Present6 months Charlotte, NC Associate Director, Higher Education Jan 2022 - Present1 year 6 months Education. This talented group of leaders represents a diverse mix of industries from across Charlotte and beyond, and they will continue a strong legacy of giving back to their communities by joining the Queens University trustees. She served as Chair of The Duke Endowment's Board of Trustees from 2012 to 2022. He became Director of the Child Care program area in 1998 and was named Vice President of the Endowment in 2009. You can email the site owner to let them know you were blocked. On December 11, 1924, James Buchanan Duke signed the Indenture of Trust, providing $40 million to establish The Duke Endowment as a perpetual trust. 51.38.238.251 The Foundation funds causes associated with the arts, preservation of Duke family properties, healthcare in Africa, and environmentalist land-preservation efforts. Cloudflare Ray ID: 7e2539cfef2ed2dd Read stories about your impact in our quarterly newsletter. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. Charlotte, North Carolina 28202 91.184.31.72 News Downloads Board of Trustees Minor M. Shaw Chair Greenville, South Carolina Dennis M. Campbell Vice Chair Durham, North Carolina Jean G. Spaulding Vice Chair Durham, North Carolina William Barnet III Trustee Spartanburg, South Carolina John F.A.V. Prior to her election as a trustee, Marcil served on the Duke WIN Leadership Council from 2015 to 2020, was Reunion Class Chair in 2013 and 2018, and served on the Advisory Board for Duke's Annual Fund from 2011 to . Career Trustee The Duke Endowment, Charlotte, North Carolina, since 1988. The Duke Endowment is systematically reviewing our work through aracial equity, diversity and inclusion lens. The Duke Endowment was at the time a philanthropic legacy rivaled in size only by those established by Andrew Carnegie and John D. Rockefeller. She served as Chair of The Duke Endowment's Board of Trustees from 2012 to 2022. Your IP: Find out more about Giving to Duke and Duke University's Endowment He became President on July 1, 2016. This website uses cookies as well as similar tools and technologies to understand visitors experiences. You can email the site owner to let them know you were blocked. Duke University Trustee Observers as of July 1, 2022. A per unit endowment spending rate is established and approved annually by the universitys board of trustees. Performance & security by Cloudflare. This benchmark (5.0% Real Return Target) is applied over the long term . Performance & security by Cloudflare. As executive vice president for health Affairs, Mary Klotman will be responsible for strategic, academic, and budgetary oversight and authority for the School of Medicine. Financials. Make your gift to the Annual Fund before June 30. Your IP: This website is using a security service to protect itself from online attacks. The Long Term Pool is managed by DUMAC Inc., a professionally staffed investment organization controlled by Duke University. Rhett Mabry is President of The Duke Endowment, a Charlotte-based private philanthropic foundation. The Doris Duke Charitable Foundation is a private foundation created by tobacco heiress Doris Duke. New Duke leadership, clockwise from top left: Frank Tramble, Dr. Mary Klotman, Alec Gallimore, Chris Simmons, Abdullah Antepli, Toddi Steelman and Lori Bennear. The Duke Endowment supports the four institutions named in Mr. Duke's Indenture of Trust: Davidson College, Duke University, Furman University and Johnson C. Smith University. In November 2011, Trustees approved six Guiding Principles for our work. The mission of Duke University's endowment is to support the people, programs, and activities of the university in perpetuity. James B. Duke established the Duke Endowment in 1924 to help people and strengthen communities in North Carolina and South Carolina. The action you just performed triggered the security solution. In 1925, it was expanded with an additional $67 million from his estate. . September 16, 2022 By AdmissionSight Duke Endowment What is the current Duke Endowment? It was by the stroke of his pen that James B. Duke created The Duke Endowment, and the integration of his signature as agraphic element in our logo underscores the legacy that is the foundation and guiding force of The Duke Endowment. Learn more about DUMAC, its investment performance, and its risk management. 91.134.140.160 Chairman Josiah Charles Trent Foundation, Durham, 1978-1983. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Education AB, Duke University, 1963. Performance & security by Cloudflare. Mr. Duke established the Endowment in 1924 with $40 million. The market value of the university's endowment was a record $7.9 billion as of June 30. Governed by aboard of trustees, Endowment staff conduct grantmaking according to guidelines in Mr. Dukes original Indenture of Trust (pdf), alegal document that remains relevant and timely after nearly 100years. Click to reveal 2020 Annual Report MINOR M. SHAW, BOARD CHAIR RHETT N. MABRY, PRESIDENT "OUTCOMES FOR CHILDREN IN KINSHIP CARE TEND TO BE BETTER THAN FOR THOSE PLACED IN FOSTER CARE." Child & Family Well-Being: Keeping Kin Together "THE PANDEMIC SHOWED HOW IMPORTANT IT IS TO BUILD TRUSTING BONDS BETWEEN HEALTH CARE PROVIDERS AND THE COMMUNITIES THEY SERVE." Welcomed incoming trustees Doha Ali, Mike Bingle, Eddy Cue, Nancy-Ann DeParle, Grant Hill, Gerardo Prraga and Vikas Patel. Much the way individual investors pool their assets in a mutual fund, each of the individual funds comprising the universitys endowment owns units in Dukes Long Term Pool (LTP). We welcome your comments and suggestions! Governed by a board of trustees, Endowment staff conduct grantmaking according to guidelines in Mr. Duke's original Indenture of Trust (pdf), a legal document that remains relevant and timely after nearly 100 years. Please login or register with De Gruyter to order this product. Among the provisions of James B. Duke's Indenture of Trust was an educational institution to be known as Duke University, to the building and support of which he made provision at the time of execution of the Indenture and later by additions thereto by the operation of his will. Amid all the struggles, however, we at The Duke Endowment have been inspired by the will and determination countless individuals have shown to keep their families safe, their communities healthy and their organizations together. Future meetings will look at evolving models in undergraduate and graduate education, research, employment and health care. Nearly one-third of the endowment was designated for unrestricted support of the university or one of its schools or budget centers. The university employs spending and investment policies designed to provide a stable flow of support for the universitys annual operations while preserving the future purchasing power of the endowment. Contents History Current Activities Environmentalist Grantmaking Governed by a board of trustees, Endowment staff conduct grantmaking according to guidelines in Mr. Duke's original Indenture of Trust, a legal document that remains relevant and timely after . The Queens University of Charlotte Board of Trustees will welcome four new members on July 1. The Duke Endowment's trustees and staff were delighted to join local officials Monday for the unveiling of a new statue of James B. Duke, the latest historic figure to be honored as part of the Trail. Cloudflare Ray ID: 7e2539cec92e3d11 During that time frame, the MSCI All Country World Index (which measures global equity markets) returned -15.8%, and the Bloomberg Barclays Aggregate Bond Index earned -10.3%. In November 2011, Trustees approved six Guiding Principles for ourwork. The Duke Endowment is a private foundation established in 1924 by industrialist and philanthropist James B. Duke. As the university's fiduciary, the board is responsible for Duke's long term health, overseeing and aligning its strategic direction, educational policy, finances and operations with the mission of the university. Through its two affiliated boards, it oversees the Duke University Health System and DUMAC, Inc., the universitys investment company. Here Are Duke Leadership Changes Beginning July 1, Mary Klotman Named Dukes First Executive Vice President for Health Affairs. You may contact the board at the following e-mail address: boardchair@duke.edu. Cloudflare Ray ID: 7e2539f6a88d9073 But unlike Rockefeller's and Carnegie's foundations, Duke's was intended only for the Carolinas. Click to reveal Click to reveal Cloudflare Ray ID: 7e2539eadfbe9195 You can email the site owner to let them know you were blocked. In addition to the 37 trustees, the Board of Trustees has four observers. The universitys endowment, along with other assets managed by DUMAC like The Duke Endowment, a private foundation based in Charlotte, invests charitable contributions to provide a permanent source of support for programs designated by donors. [2] Background James B. Duke endowed the foundation on December 11, 1924, with $40 million. The action you just performed triggered the security solution. Trustee. The Duke community has worked hard to address financial challenges that predated, but were amplified by, the pandemic. Your documents are now available to view. 81.169.241.151 As of June 30, 2022, the universitys endowment was comprised of more than 5,800 individual funds totaling approximately $12.1 billion. With assets of $5.9 billion in 2021, the Endowment is one of the nations largest 501(c)(3) private foundations. In addition to grantmaking work in four program areas, the Endowment shares its knowledge by publishing resources for grantees and other service organizations, including information about what were learning from our work in various publications, reports and evaluations. degree from Duke in economics, magna cum laude, and an MBA with distinction from Harvard Business School. DUMAC also manages the assets of The Duke Endowment, the private charitable trust established by Duke University's founder, James B. Duke. Homepage. The Annual Report and other publications of The Duke Endowment or its divisions are open for research. Sex: Male Alma Mater: Eastman Business College Religion: Methodist Era: 20th Century Source of Fortune: Manufacturing Utilities Philanthropic Focus: Higher Education Medical Religion Youth James Buchanan Duke built two massive fortunes, the first in tobacco and the second in hydroelectric generation. Performance & security by Cloudflare. 800 East Morehead Street The Board also reviewed the annual report on Duke University's endowment, which is managed by DUMAC. Discussed the continuing implementation of the Next Generation Living and Learning Experience Initiative with Vice President and Vice Provost for Student Affairs Mary Pat McMahon and Vice Provost for Undergraduate Education Gary Bennett. Kacia A. Anderson Rhett N. Mabry (President, The Duke Endowment, Charlotte, NC) Vikas J. Patel (President, Duke Alumni Association) Edgar Virgez Dukes endowment assets are managed collectively. Minor Shaw is president of Micco LLC, a private investment company. They are guided by two objectives: to support program initiatives and beneficiaries and to preserve the value of The Duke Endowment portfolio. The first $50 million of The Duke Endowment's historic commitment to support Duke Science and Technology was announced in 2019. The Board also reviewed the annual report on Duke Universitys endowment, which is managed byDUMAC. The meetings were conducted by videoconference. She is a former board member of the Columbia Funds, Piedmont Natural Gas, MDC and the Duke Energy Advisory Board, and she has been chairman of the Community Foundation of Greenville, the South Carolina Governors School for the Arts and Humanities, the Junior League of Greenville, the Urban League of the Upstate, the YMCA of Greenville, S.C. Duke Today is produced jointly by University Communications and the Office of Communication Services (OCS). Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut. history Deadlines. The Duke Endowment, which was founded in 1924, is one of the many organizations endowed by cigarette manufacturer and electric power industrialist James B. Duke. Risus commodo viverra maecenas accumsan lacus vel facilisis. By continuing to use this website, you consent to Duke Universitys usage of cookies and similar technologies, in accordance with the Duke Privacy Statement. Received an update on Dukes COVID-19 efforts from President Price and the senior leadership team. Located in Charlotte, N.C., the Endowment seeks to fulfill the visionary genius and innovative legacy of James Buchanan Duke, one of the great industrialists and philanthropists of the 20th century. Participated in the Class of 2020 commencement activities and recognized the awarding of University Medals to emeritus trustees Pete Nicholas and Rick Wagoner, and honorary degrees to Ken Jeong, Mary Schmidt Campbell, Katalin Karik and Drew Weissman. New Duke trustees, top row: Sharon Marcil, Sydney Hunt, Tom Lister. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. Rural Church We are committed to preserving the pivotal role churches play in rural communities. The Duke University Board of Trustees began a year-long strategic education program on the critical issues facing higher education and academic medicine at its quarterly meetings Friday and Saturday. Independent Colleges and Universities, Inc., the UNC Chapel Hill Arts & Sciences Foundation and the South Carolina ETV Endowment. Skilled in Nonprofit Organizations, Philanthropy, Fundraising, Program Development, and Community. This website is using a security service to protect itself from online attacks. Durden, R. 1998. Click to reveal This has been a tumultuous time in so many ways, but these extraordinary gains and the generosity of our donors will have a positive impact on Duke for several years to come by providing additional funding for our operating budgets, said Price.