The Duke Endowment
The Duke Endowment is a private foundation established in 1924 by James Buchanan Duke, founder of the American Tobacco Company and Duke Energy. Headquartered in Charlotte, North Carolina, the organization operates as a 501(c)(3) independent foundation and is one of the nation's largest private foundations. The Endowment works to help people and strengthen communities through strategic philanthropy and grantmaking.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$3.6B
+1.8% YoY
Annual Giving
$251.2M
+12.9% YoY
Grant Count
480
+31.5% YoY
Avg Grant Size
$523K
-14.1% YoY
Mission & Focus Areas
The Duke Endowment's mission is to help people and strengthen communities in North Carolina and South Carolina by nurturing children, promoting health, educating minds, and enriching spirits.
The organization focuses on four primary program areas:
Child & Family Well-Being — Ensuring all children grow up safe from maltreatment, supported by nurturing families and caring adults, enabling children in the Carolinas to live successful lives.
Health Care — Supporting communities designed to promote healthy lifestyles and enabling the health care system to engage patients and provide holistic care that meets individual needs.
Higher Education — Supporting the four institutions named in Mr. Duke's original Indenture of Trust: Davidson College, Duke University, Furman University, and Johnson C. Smith University.
Rural Church — Preserving the pivotal role churches play in rural communities by supporting clergy and congregations with tools and resources to strengthen rural areas.
The Endowment also emphasizes early childhood initiatives and responds to contemporary needs through strategic interventions.
Grantmaking
The Duke Endowment has awarded nearly $3.6 billion in grants since its inception, including over $1.5 billion to Duke University. Approximately 82 percent of total spending goes to grantmaking.
Ready to take the next step with The Duke Endowment?
Geographic Focus
Where this funder awards grants
The Duke Endowment's grantmaking is limited to North Carolina and South Carolina.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets (2023): $3.502 billion
Assets (2022): $3.619 billion
Total Revenue (2023): $142.024 million
Total Revenue (2022): $497.718 million
Total Expenses (2023): $254.434 million
Total Expenses (2022): $255.056 million
Total Liabilities (2022): $98.6 million
The organization maintains tax-exempt status as a 501(c)(3) private foundation, with donations being tax-deductible.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $3,567,263,777 | $3,502,993,986 | $3,619,520,233 |
| Revenue | $370,592,635 | $142,024,971 | $497,718,591 |
| Expenses | $301,842,921 | $254,434,115 | $255,056,319 |
| Qualifying Distributions | $276,183,294 | $245,821,364 | $231,629,972 |
| Net Investment Income | $280,395,231 | $119,075,976 | $413,641,371 |
| Distributable Amount | $244,585,499 | $241,612,984 | $257,696,614 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
250 grants across all recorded years
Open Grants
3 open opportunities from The Duke Endowment
Duke Endowment: Child and Family Well-Being Grant
THE DUKE ENDOWMENT
Amount
Varies
Deadline
Rolling / Open
Duke Endowment: Rural Church Grants
THE DUKE ENDOWMENT
Amount
Varies
Deadline
Rolling / Open
The Duke Endowment: Health Care Grant
THE DUKE ENDOWMENT
Amount
Varies
Deadline
Rolling / Open
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Rhett N. Mabry — President
The organization is governed by a board of trustees and employs 64 staff members.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| WILLIAM BARNET III | TRUSTEE | 5.5 | $191,048 |
| DENNIS M CAMPBELL | TRUSTEE/VICE-CHAIR | 5.5 | $191,048 |
| JOHN FAV CECIL | TRUSTEE | 5.5 | $191,048 |
| RAVENEL B CURRY III | TRUSTEE | 5.5 | $191,048 |
| PAMELA DAVIES | TRUSTEE | 5.5 | $191,048 |
| HARRIS E DELOACH JR | TRUSTEE | 5.5 | $191,048 |
| ALLYSON K DUNCAN | TRUSTEE | 5.5 | $191,048 |
| CONSTANCE F GRAY | TRUSTEE (RETIRED ON 12/31/2024) | 5.5 | $191,048 |
| J TRENT JONES | TRUSTEE | 5.5 | $191,048 |
| CHARLES C LUCAS III | TRUSTEE/CHAIR | 10 | $191,048 |
| CLARENCE G NEWSOME | TRUSTEE | 5.5 | $191,048 |
| MINOR M SHAW | TRUSTEE | 5.5 | $191,048 |
| JEAN G SPAULDING | TRUSTEE/VICE-CHAIR | 5.5 | $191,048 |
| KENNETH D WEEKS JR | TRUSTEE (RETIRED ON 5/31/2024) | 5.5 | $79,603 |
| JUDY WOODRUFF | TRUSTEE | 5.5 | $191,048 |
| CAMMIE R HAUPTFUHRER | TRUSTEE (ELECTED ON 10/08/2024) | 5.5 | $47,762 |
| WILLIAM F BACON | VP & DIRECTOR OF EVALUATION | 40 | $408,782 |
| RHETT N MABRY | PRESIDENT | 40 | $731,243 |
| SUSAN L MCCONNELL | VP & DIR. OF HUMAN RESOURCES | 40 | $414,010 |
| KAREN H ROGERS | CFO, TREASURER AND SEC. | 40 | $417,566 |
| SEE STMT 19 PART VII EXPLANATION | N/A | — | — |
Recent News & Activity
Recent developments and announcements
The Duke Endowment announced a historic $5 billion in upcoming grants on its centennial anniversary, to be distributed over the next 15 years across North Carolina and South Carolina.
Duke Endowment announces historic $5 billion in upcoming grants on centennial\Recent major grants to Duke University include:
$100 million from The Duke Endowment
New $30 million award from The Duke Endowment to elevate computing and A.I.$30 million to elevate computing and artificial intelligence at Duke
New $30 million award from The Duke Endowment to elevate computing and A.I.$10.5 million to fund groundbreaking child and family policy research
An Award to Fund Groundbreaking Child and Family Policy Research | Duke TodayData last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with The Duke Endowment on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities