Duke Sets Donations Record
Posted August 2, 2007 11:23 a.m. EDT
Durham, N.C. — Duke University received more than $380 million in gifts for the year ended June 30, setting a record for annual giving, officials said Thursday.
Gifts came from about 98,000 donors, nearly 41,000 of them Duke alumni. The previous record was $341.9 million in gifts, which was set a year ago, officials said.
“Duke is a wonderful university, to a great extent due to the loyalty and generosity of its alumni and other donors,” President Richard Brodhead said in a statement. “I am deeply grateful for their support, as I know are the students, faculty members, physicians and staff who so greatly benefit from it.”
More than $80 million of the total was to support student scholarships, including Duke’s Financial Aid Initiative, which has obtained about three-quarters of its $300 million goal for a new scholarship endowment. Launched by Brodhead in December 2005, the endowment supports the university’s policy of admitting U.S. undergraduates based on their academic accomplishments and then meeting all of their demonstrated financial need.
The Duke Endowment, the Charlotte-based charitable trust created by university founder James B. Duke, was the university’s largest single donor, giving $74.7 million for a variety of purposes, including scholarships and academic and community outreach programs.