Duke University
- Assets
- $20.9b
- Revenue
- $4.6b
- Investments
- $12.0b
- Employees
- 29,863
- Location
- Durham, NC
- Founding
- 06/1939
- Data as of
- 06/2022
- EIN
- 56-0532129
Organization Overview
Duke University is located in Durham, NC. The organization was established in 1939. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, Duke University employed 29,863 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Duke University is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Duke University generated $4.6b in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $3.6b during the year ending 06/2022. While expenses have increased by 3.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Duke University has awarded 700 individual grants totaling $31,372,689. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A SUPERIOR LIBERAL EDUCATION, TO PREPARE FUTURE MEMBERS OF LEARNED PROFESSIONS, TO ADVANCE THE FRONTIERS OF KNOWLEDGE, AND TO HELP THOSE WHO SUFFER, CURE DISEASE, AND PROMOTE HEALTH
Describe the Organization's Program Activity:
DUKE UNIVERSITY CONFERS UNDERGRADUATE, GRADUATE, AND PROFESSIONALDEGREES TO APPROXIMATELY 6,119 STUDENTS ANNUALLY
DUKE UNIVERSITY ENGAGES IN WORLD-RENOWNED RESEARCH WORKSPONSORED BY NUMEROUS FEDERAL, STATE, LOCAL AGENCIES, AND PRIVATE GRANTS
DUKE UNIVERSITY AUXILIARY ENTERPRISES PROVIDE SUPPORTSERVICES TO THE DUKE UNIVERSITY COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vincent E Price President/trustee | OfficerTrustee | 48 | $1,953,126 |
Mary T Barra Trustee | Trustee | 2 | $0 |
Michael J Bingle Trustee | Trustee | 2 | $0 |
Lisa M Borders Trustee | Trustee | 4 | $0 |
Ibrahim Butt Trustee | Trustee | 2 | $0 |
Timothy D Cook Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lechase Construction Services Llc Construction Service | 6/29/22 | $16,905,257 |
Be&k Building Group Llc Construction Service | 6/29/22 | $25,114,580 |
Unc-ch Ofc Of Sponsored Research Sponsored Research | 6/29/22 | $11,704,775 |
Allegis Group Holding Inc Temporary Services | 6/29/22 | $13,031,870 |
Pension Benefit Guaranty Corp Premium Filing | 6/29/22 | $10,317,563 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $3,095,461 |
| Related organizations | $103,368,575 |
| Government grants | $968,680,900 |
| All other contributions, gifts, grants, and similar amounts not included above | $669,698,302 |
| Noncash contributions included in lines 1a–1f | $44,787,341 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,744,843,238 |
| Total Program Service Revenue | $1,263,463,598 |
| Investment income | $77,141,490 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $65,405,568 |
| Net Rental Income | $4,539,124 |
| Net Gain/Loss on Asset Sales | $1,407,117,622 |
| Net Income from Fundraising Events | -$467,307 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,604,378,802 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $346,734,764 |
| Grants and other assistance to domestic individuals. | $75,842,445 |
| Grants and other assistance to Foreign Orgs/Individuals | $9,091,892 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $22,949,580 |
| Compensation of current officers, directors, key employees. | $20,991,416 |
| Compensation to disqualified persons | $1,767,551 |
| Other salaries and wages | $1,530,237,353 |
| Pension plan accruals and contributions | $109,459,949 |
| Other employee benefits | $183,151,274 |
| Payroll taxes | $106,120,277 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $29,943,767 |
| Fees for services: Accounting | $677,407 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $1,736,716 |
| Fees for services: Investment Management | $32,847,259 |
| Fees for services: Other | $172,917,444 |
| Advertising and promotion | $6,690,821 |
| Office expenses | $114,874,996 |
| Information technology | $37,399,014 |
| Royalties | $68,065,842 |
| Occupancy | $107,886,847 |
| Travel | $23,922,696 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $27,711,708 |
| Interest | $85,230,394 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $275,878,214 |
| Insurance | $4,840,630 |
| All other expenses | -$58,442,793 |
| Total functional expenses | $3,624,272,862 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $132,747,395 |
| Pledges and grants receivable | $442,734,661 |
| Accounts receivable, net | $174,355,011 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $18,087,616 |
| Inventories for sale or use | $24,006,750 |
| Prepaid expenses and deferred charges | $257,457,684 |
| Net Land, buildings, and equipment | $2,657,947,973 |
| Investments—publicly traded securities | $3,324,769,216 |
| Investments—other securities | $11,974,123,983 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,864,803,761 |
| Total assets | $20,871,034,050 |
| Accounts payable and accrued expenses | $473,233,871 |
| Grants payable | $0 |
| Deferred revenue | $226,259,379 |
| Tax-exempt bond liabilities | $363,845,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,989,207 |
| Unsecured mortgages and notes payable | $2,269,883,991 |
| Other liabilities | $1,380,345,766 |
| Total liabilities | $4,716,557,214 |
| Net assets without donor restrictions | $7,087,186,814 |
| Net assets with donor restrictions | $9,067,290,022 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $20,871,034,050 |
Grants Awarded
Over the last fiscal year, Duke University has awarded $2,540,717 in support to 64 organizations.
| Grant Recipient | Amount |
|---|---|
ALAMANCE COMMUNITY COLLEGE PURPOSE: GENERAL SUPPORT | $13,500 |
AMERICAN RED CROSS PURPOSE: GENERAL SUPPORT | $14,071 |
AMY E KELLY EDUCATION FOUNDATION PURPOSE: COMMUNITY SUPPORT | $10,988 |
BIKE DURHAM PURPOSE: COMMUNITY SUPPORT | $7,500 |
BOOK HARVEST PURPOSE: COMMUNITY SUPPORT | $15,500 |
CARROLL MINISTRIES INTERNATIONAL PURPOSE: INNOVATION AWARD | $10,000 |