Duke University’s endowment is a perpetual source of revenue for the University. The endowment is made up of over 6,000 funds, providing support for financial aid, professorships and the operations of the University.
OUR MISSION
We administer and steward Duke's invested accounts-mainly endowments-and assist and train Duke's schools and units on all aspects of the Long Term Pool and endowments.
OUR VISION
Building on Duke's shared values of respect, trust, inclusion, discovery, and excellence, we develop collaborative relationships with key stakeholders within the endowment/investment process to achieve university goals.
Types of Endowments
Permanent endowments are established from gifts received from a donor(s) for a specific purpose. These gifts are invested in Duke University’s Long Term Pool as principal, and are preserved in perpetuity. The distributions from the invested funds are released for their intended purpose based on a Board of Trustees approved spending rate.
Quasi endowments are established from internal sources, such as discretionary funds. Quasi endowments are invested in the Long Term Pool and annual distributions are based on the Board of Trustee approved spending rate.
Quasi endowment funds of less than $10 million may be approved by the Executive Vice President of the University or his/her designee. Quasi endowment funds of $10 million or more must be submitted to the Board of Trustees for approval.
Effective October 1, 2018, the minimum funding level requirements listed below help ensure that each endowment fund generates sufficient distributions for its designated purpose.
Donors have up to five (5) years to meet the minimum funding level requirement.
Minimum Funding Level Requirements
Unrestricted: $100,000. Support for the University or any school, department, program, or center.
Restricted: $300,000. Support for a specific purpose within any school, department, program, or center
Unrestricted: $100,000. Scholarships for undergraduate or graduate/professional students specifying nothing more than the students’ school or college, or scholarships for student athletes.
Restricted: $300,000. Scholarships for undergraduate or graduate/professional students that specify selection criteria or preferences for the student recipients, such as student athletes with a particular major.
Full: $1,500,000. Support one student’s full cost of tuition and expenses
Postdoctoral Fellow: $1,000,000. Support for post-M.D. or post-Ph.D., etc.; may specify the school, department, or field of study
Visiting Professor: $1,500,000. May specify the school, department, or field of study
Professor of the Practice: $1,500,000. The holder may be either a scholar or practitioner within a designated field of expertise; may specify the school, department, or field of expertise
Associate/Assistant Professor: $2,000,000. May specify the school, department, or field of study
Full Professor: $3,500,000. May specify the school, department, or field of study
Deanship: $10,000,000. May specify the school or position
Note: Funding for selected directorships in the library and curatorships in the museum will be consistent with the parallel professorship levels
Associate or Assistant Coach: $1,000,000. May specify the level and the sport
Head Coach: $2,000,000. May specify any sport other than football or basketball
Head Coach - Football, Men’s or Women’s Basketball: $5,000,000
Athletic Director: $5,000,000
Any purpose: $100,000.
Note: These amounts should be considered minimums. Schools or programs may need funding at higher levels, depending on their requirements.