Duke Gets $40 Million Gift for New Faculty
Posted January 9, 2008 3:31 p.m. EST
Updated January 9, 2008 10:27 p.m. EST
Durham, N.C. — The Duke Endowment plans to donate $40 million to Duke University to create more than 30 faculty positions, Duke President Richard Brodhead announced Wednesday.
The gift from the Charlotte-based nonprofit will endow 10 assistant professorships and 10 associate professorships. It also will provide $15 million to match other funds to establish 12 endowed full professorships.
“The Duke Endowment is helping mightily to secure Duke University’s future. Our strategic plan calls for innovative approaches to what and how we teach students, particularly undergraduates,” Brodhead said in a statement. "The primary means to these ends are Duke faculty members. Our visionary supporters in Charlotte understand and support that, and we are grateful.”
The gift marks the third major element of the university's strategic plan that the Duke Endowment has supported.
Last February, the organization joined with the Bill & Melinda Gates Foundation in providing $15 million each to launch a program that will make civic engagement an integral part of the Duke undergraduate experience.
In September 2005, the endowment committed $75 million for student financial aid at Duke. It was the largest single gift in the endowment’s 81-year history and the largest single gift ever received by the university.