Form990


Department of the TreasuryInternal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations)
Do not enter social security numbers on this form as it may be made public.
Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public Inspection
A For the 2024 calendar year, or tax year beginning 07-01-2024 , and ending 06-30-2025
BCheck if applicable:
CName of organization
DUKE UNIVERSITY
 
 
Doing business as
 
 
Number and street (or P.O. box if mail is not delivered to street address)
2200 W MAIN STREET STE 300
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
DURHAM, NC27705
D Employer identification number

56-0532129
E Telephone number

G Gross receipts $ 4,783,146,190
F Name and address of principal officer:
VINCENT E PRICE
2200 W MAIN STREET
DURHAM,NC27705
I
Tax-exempt status: (   ) (insert no.) or
J
Website:
WWW.DUKE.EDU
H(a)
Is this a group return for
subordinates?
H(b)
Are all subordinates
included?
If "No," attach a list. See instructions.
H(c)
Group exemption number  
K Form of organization:  
L Year of formation: 1841
M State of legal domicile: NC
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: 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
2 Check this box
3 Number of voting members of the governing body (Part VI, line 1a) ........ 3 37
4 Number of independent voting members of the governing body (Part VI, line 1b) ..... 4 34
5 Total number of individuals employed in calendar year 2024 (Part V, line 2a) ...... 5 32,100
6 Total number of volunteers (estimate if necessary) ............. 6 15,837
7a Total unrelated business revenue from Part VIII, column (C), line 12 ........ 7a 6,944,965
b Net unrelated business taxable income from Form 990-T, Part I, line 11 ......... 7b 1,356,656
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 1,974,843,265 1,975,474,083
9 Program service revenue (Part VIII, line 2g) ......... 1,388,719,243 1,479,979,763
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 986,358,110 1,146,576,952
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 129,302,460 152,314,868
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12) 4,479,223,078 4,754,345,666
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 470,027,162 518,261,261
14 Benefits paid to or for members (Part IX, column (A), line 4)..... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 2,305,819,318 2,439,701,930
16a Professional fundraising fees (Part IX, column (A), line 11e) ..... 1,522,552 2,537,566
b Total fundraising expenses (Part IX, column (D), line 25) 105,154,267    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e).... 1,366,034,532 1,389,543,185
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 4,143,403,564 4,350,043,942
19 Revenue less expenses. Subtract line 18 from line 12....... 335,819,514 404,301,724
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 21,158,472,538 22,131,922,809
21 Total liabilities (Part X, line 26)............. 4,582,462,353 4,608,079,402
22 Net assets or fund balances. Subtract line 21 from line 20..... 16,576,010,185 17,523,843,407
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
Signature of officer Date
Type or print name and title
Paid Preparer Use Only
Print/Type preparer's name
Preparer's signature
Date
PTIN
Firm's name

Firm's EIN
Firm's address



Phone no.
May the IRS discuss this return with the preparer shown above? See Instructions. ..........
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y Form 990 (2024)
Form 990 (2024)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response or note to any line in this Part III..............
1
Briefly describe the organization’s mission: SEE SCHEDULE O
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? .....................
If "Yes," describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program
services? ...........................
If "Yes," describe these changes on Schedule O.
4
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 2,237,395,261 including grants of $ 456,829,617 ) (Revenue $ 1,134,176,642 )
DUKE UNIVERSITY CONFERS UNDERGRADUATE, GRADUATE, AND PROFESSIONALDEGREES TO APPROXIMATELY 6,818 STUDENTS ANNUALLY
4b (Code:   ) (Expenses $ 1,216,495,537 including grants of $ 61,431,644 ) (Revenue $ 1,497,060,511 )
DUKE UNIVERSITY ENGAGES IN WORLD-RENOWNED RESEARCH WORKSPONSORED BY NUMEROUS FEDERAL, STATE, LOCAL AGENCIES, AND PRIVATE GRANTS
4c (Code:   ) (Expenses $ 447,993,747 including grants of $   ) (Revenue $ 233,506,534 )
DUKE UNIVERSITY AUXILIARY ENTERPRISES PROVIDE SUPPORTSERVICES TO THE DUKE UNIVERSITY COMMUNITY
4d Other program services (Describe in Schedule O.)
(Expenses $   including grants of $   ) (Revenue $   )
4e Total program service expenses3,901,884,545
Form 990 (2024)
Form 990 (2024)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule AClick to see attachment
List of Attached Documents:
// Content
.....................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors? See instructions. Click to see attachment
List of Attached Documents:
// Content
...
2
Yes
 
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part IClick to see attachment
List of Attached Documents:
// Content
.............
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part IIClick to see attachment
List of Attached Documents:
// Content
.........
4
Yes
 
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Rev. Proc. 98-19? If "Yes," complete Schedule C, Part IIIClick to see attachment
List of Attached Documents:
// Content
..
5
 
No
6
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part IClick to see attachment
List of Attached Documents:
// Content
.........................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part IIClick to see attachment
List of Attached Documents:
// Content
....
7
Yes
 
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes,"
complete Schedule D, Part IIIClick to see attachment
List of Attached Documents:
// Content
..............
8
Yes
 
9
Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IVClick to see attachment
List of Attached Documents:
// Content
..............
9
 
No
10
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi endowments? If "Yes," complete Schedule D, Part V......
10
Yes
 
11
If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X, as applicable.
a
Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If "Yes," complete
Schedule D, Part VI. Click to see attachment
List of Attached Documents:
// Content
...................
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIClick to see attachment
List of Attached Documents:
// Content
.......
11b
Yes
 
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIIClick to see attachment
List of Attached Documents:
// Content
.......
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part IXClick to see attachment
List of Attached Documents:
// Content
............
11d
Yes
 
e
Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part XClick to see attachment
List of Attached Documents:
// Content
11e
Yes
 
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part XClick to see attachment
List of Attached Documents:
// Content
11f
 
No
12a
Did the organization obtain separate, independent audited financial statements for the tax year? If "Yes," complete
Schedule D, Parts XI and XIIClick to see attachment
List of Attached Documents:
// Content
......................
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional Click to see attachment
List of Attached Documents:
// Content
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule EClick to see attachment
List of Attached Documents:
// Content
13
Yes
 
14a
Did the organization maintain an office, employees, or agents outside of the United States? .....
14a
Yes
 
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV.........Click to see attachment
List of Attached Documents:
// Content
14b
Yes
 
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IV.....Click to see attachment
List of Attached Documents:
// Content
15
Yes
 
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV...Click to see attachment
List of Attached Documents:
// Content
16
Yes
 
17
Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I. See instructions. ....Click to see attachment
List of Attached Documents:
// Content
17
Yes
 
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If "Yes," complete Schedule G, Part II............ Click to see attachment
List of Attached Documents:
// Content
18
Yes
 
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes," complete Schedule G, Part III...................Click to see attachment
List of Attached Documents:
// Content
19
 
No
20a
Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....
20a
 
No
b
If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?
20b
 
 
21
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.....Click to see attachment
List of Attached Documents:
// Content
21
Yes
 
Form 990 (2024)
Form 990 (2024)
Page 4
Part IV
Checklist of Required Schedules (continued)
Yes
No
22
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........Click to see attachment
List of Attached Documents:
// Content
22
Yes
 
23
Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J....................... Click to see attachment
List of Attached Documents:
// Content
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a...............Click to see attachment
List of Attached Documents:
// Content
24a
Yes
 
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
No
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds? ...............
24c
 
No
d
Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...
24d
 
No
25a
Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I .... Click to see attachment
List of Attached Documents:
// Content
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I.......................Click to see attachment
List of Attached Documents:
// Content
25b
 
No
26
Did the organization report any amount on Part X, line 5 or 22 for receivables from or payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part IIClick to see attachment
List of Attached Documents:
// Content
...........
26
 
No
27
Did the organization provide a grant or other assistance to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or employee thereof, a grant selection committee member, or to a 35% controlled entity (including an employee thereof) or family member of any of these persons?
If "Yes," complete
Schedule L, Part IIIClick to see attachment
List of Attached Documents:
// Content
.........................
27
Yes
 
28
Was the organization a party to a business transaction with one of the following parties (see the Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, key employee, creator or founder, or substantial contributor? If "Yes," complete Schedule L, Part IV......................Click to see attachment
List of Attached Documents:
// Content
28a
Yes
 
b
A family member of any individual described in line 28a? If "Yes," complete Schedule L, Part IV.....Click to see attachment
List of Attached Documents:
// Content
28b
Yes
 
c
A 35% controlled entity of one or more individuals and/or organizations described in line 28a or 28b? If "Yes," complete Schedule L, Part IV.....................
28c
 
No
29
Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M..Click to see attachment
List of Attached Documents:
// Content
29
Yes
 
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M .................Click to see attachment
List of Attached Documents:
// Content
30
Yes
 
31
Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N, Part I
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II........................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I............Click to see attachment
List of Attached Documents:
// Content
33
Yes
 
34
Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1.........................Click to see attachment
List of Attached Documents:
// Content
34
Yes
 
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
Yes
 
b
If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2 ...Click to see attachment
List of Attached Documents:
// Content
35b
 
No
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes," complete Schedule R, Part V, line 2............. Click to see attachment
List of Attached Documents:
// Content
36
 
No
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VIClick to see attachment
List of Attached Documents:
// Content
37
 
No
38
Did the organization complete Schedule O and provide explanations on Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V...........
Yes
No
1a
Enter the number reported in box 3 of Form 1096. Enter -0- if not applicable ..
1a
11,287
b
Enter the number of Forms W-2G included on line 1a. Enter -0- if not applicable .
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
Form 990 (2024)
Form 990 (2024)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance (continued)
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return ..................
2a
32,100
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?...
3a
Yes
 
b
If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...
3b
Yes
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)? ..
4a
Yes
 
b
If "Yes," enter the name of the foreign country: SP , UK , TZ , CH , SN , MA , IN , KE , SW , NO , PL , GM , IS , HU , CA
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year? ..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions? ...
6a
 
No
b
If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible? ......................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor? ....................
7a
Yes
 
b
If "Yes," did the organization notify the donor of the value of the goods or services provided? .....
7b
Yes
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282? .........................
7c
Yes
 
d
If "Yes," indicate the number of Forms 8282 filed during the year ....
7d
1
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?
7e
 
No
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ..
7f
 
No
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required? ......................
7g
Yes
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C? ..........................
7h
 
 
8
Sponsoring organizations maintaining donor advised funds. Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year? ........
8
 
 
9
Sponsoring organizations maintaining donor advised funds.
a
Did the sponsoring organization make any taxable distributions under section 4966?........
9a
 
 
b
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources. (Do not net amounts due or paid to other sources against amounts due or received from them.) ..........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If "Yes," enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state? .........
Note. See the instructions for additional information the organization must report on Schedule O.
13a
 
 
b
Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans ....
13b
 
c
Enter the amount of reserves on hand ............
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
No
b
If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..
14b
 
 
15
Is the organization subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or excess parachute payment(s) during the year? ....................
If "Yes," see the instructions and file Form 4720, Schedule N.
15
Yes
 
16
Is the organization an educational institution subject to the section 4968 excise tax on net investment income? ..
If "Yes," complete Form 4720, Schedule O.
16
Yes
 
17
Section 501(c)(21) organizations. Did the trust, or any disqualified or other person engage in any activities that would result in the imposition of an excise tax under section 4951, 4952, or 4953? ..
If "Yes," complete Form 6069.
17
 
 
Form 990 (2024)
Form 990 (2024)
Page 6
Part VI
Governance, Management, and Disclosure. For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response or note to any line in this Part VI..............
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year
1a
37
If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
b
Enter the number of voting members included in line 1a, above, who are independent
1b
34
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
Yes
 
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? .
4
Yes
 
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Did the organization have members or stockholders? ................
6
 
No
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................
7a
Yes
 
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................
7b
 
No
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .......................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If "Yes," provide the names and addresses in Schedule O.......
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)
Yes
No
10a
Did the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?
10b
 
 
11a
Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? ............................
11a
Yes
 
b
Describe on Schedule O the process, if any, used by the organization to review this Form 990. .....
12a
Did the organization have a written conflict of interest policy? If "No," go to line 13.......
12a
Yes
 
b
Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................
12b
Yes
 
c
Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe on Schedule O how this was done...................
12c
Yes
 
13
Did the organization have a written whistleblower policy? ...............
13
Yes
 
14
Did the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line 15a or 15b, describe the process on Schedule O. See instructions.
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
 
No
b
If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
 
 
Section C. Disclosure
17
List the states with which a copy of this Form 990 is required to be filed
MD , MA , MI , NH , NJ , NY , OR , SC
18
Section 6104 requires an organization to make its Form 1023 (1024 or 1024-A, if applicable), 990, and 990-T (section 501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
20
State the name, address, and telephone number of the person who possesses the organization's books and records:
DUKE UNIVERSITY2200 W MAIN STREET STE 300   DURHAM,NC27705 (919) 684-2006
Form 990 (2024)
Form 990 (2024)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response or note to any line in this Part VII..............
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See the instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (box 5 of Form W-2, box 6 of Form 1099-MISC, and/or box 1 of Form 1099-NEC) of more than $100,000 from the organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

See the instructions for the order in which to list the persons above.
Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W-2/1099-MISC/1099-NEC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(1) ADAM SILVER......................................................................
TRUSTEE
 6.00
.................
2.10 		X           0 0 0
(2) AMY ABERNETHY......................................................................
TRUSTEE
 2.00
.................
0.00 		X           0 0 0
(3) ANN PELHAM......................................................................
TRUSTEE
 2.00
.................
0.00 		X           0 0 0
(4) CARMICHAEL S ROBERTS JR......................................................................
TRUSTEE
 1.00
.................
1.00 		X           0 0 0
(5) DAVID S TAYLOR......................................................................
TRUSTEE
 2.00
.................
0.00 		X           0 0 0
(6) EDDY H CUE......................................................................
TRUSTEE
 2.00
.................
0.00 		X           0 0 0
(7) EDGAR VIRGUEZ......................................................................
TRUSTEE
 2.00
.................
0.00 		X           0 0 0
(8) EDWARD A GILHULY......................................................................
TRUSTEE
 4.00
.................
0.00 		X           0 0 0
(9) GRANT H HILL......................................................................
TRUSTEE
 2.00
.................
0.00 		X           0 0 0
(10) GREGORY V PALMER......................................................................
TRUSTEE
 2.00
.................
0.00 		X           3,000 0 0
(11) JB PRITZKER......................................................................
TRUSTEE
 1.00
.................
0.00 		X           0 0 0
(12) JAMES C ZELTER......................................................................
TRUSTEE
 2.00
.................
0.10 		X           0 0 0
(13) JEFFREY W UBBEN......................................................................
TRUSTEE
 4.00
.................
0.00 		X           0 0 0
(14) KAREN M KING......................................................................
TRUSTEE
 2.00
.................
0.00 		X           0 0 0
(15) KATHRYN A HOLLISTER......................................................................
TRUSTEE
 4.00
.................
0.00 		X           0 0 0
(16) L FREDERICK SUTHERLAND......................................................................
TRUSTEE
 4.00
.................
0.00 		X           0 0 0
(17) LAURENE M SPERLING......................................................................
TRUSTEE
 6.00
.................
8.00 		X           0 0 0
Form 990 (2024)
Form 990 (2024)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W-2/1099-MISC/1099-NEC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(18) LISA M BORDERS........................................................................
TRUSTEE
 4.00
.......................0.00 		X           0 0 0
(19) MARY T BARRA........................................................................
TRUSTEE
 6.00
.......................0.00 		X           0 0 0
(20) MELISSA BERNSTEIN........................................................................
TRUSTEE
 2.00
.......................0.00 		X           0 0 0
(21) MICHAEL G RHODES........................................................................
TRUSTEE
 2.00
.......................0.00 		X           0 0 0
(22) MICHAEL J BINGLE........................................................................
TRUSTEE
 2.00
.......................0.00 		X           0 0 0
(23) MICHAEL R STONE........................................................................
TRUSTEE
 2.00
.......................0.00 		X           0 0 0
(24) NANCY M SCHLICHTING........................................................................
TRUSTEE
 2.00
.......................2.00 		X           0 0 0
(25) NANCY-ANN DEPARLE........................................................................
TRUSTEE
 2.00
.......................0.00 		X           0 0 0
(26) PATRICIA RODERICK MORTON........................................................................
TRUSTEE
 4.00
.......................0.00 		X           0 0 0
(27) ROBERT R PENN........................................................................
TRUSTEE
 2.00
.......................0.00 		X           0 0 0
(28) SHARON MARCIL........................................................................
TRUSTEE
 2.00
.......................0.00 		X           0 0 0
(29) STEPHEN G PAGLIUCA........................................................................
TRUSTEE
 1.00
.......................0.00 		X           0 0 0
(30) SYDNEY HUNT........................................................................
TRUSTEE
 2.00
.......................0.00 		X           0 0 0
(31) THOMAS H LISTER........................................................................
TRUSTEE
 2.00
.......................6.00 		X           0 0 0
(32) TIMOTHY D COOK........................................................................
TRUSTEE
 2.00
.......................0.00 		X           0 0 0
(33) VIKAS J PATEL........................................................................
TRUSTEE
 2.00
.......................0.00 		X           0 0 0
(34) WARREN LATTIMORE........................................................................
TRUSTEE
 2.00
.......................0.00 		X           0 0 0
(35) WILLIAM G KAELIN JR........................................................................
TRUSTEE
 2.00
.......................0.00 		X           0 0 0
(36) XIQING GAO........................................................................
TRUSTEE
 2.00
.......................0.00 		X           0 0 0
(37) VINCENT E PRICE........................................................................
PRESIDENT/TRUSTEE
 48.00
.......................3.30 		X   X       2,137,417 0 62,628
(38) DANIEL G ENNIS........................................................................
EXECUTIVE VICE PRESIDENT
 40.00
.......................0.30 		    X       1,464,086 0 73,368
(39) MARY E KLOTMAN MD........................................................................
EVP FOR HEALTH AFFAIRS & DEAN OF SOM
 49.00
.......................12.20 		    X       1,522,644 0 58,317
(40) ALEC GALLIMORE........................................................................
PROVOST
 50.00
.......................0.30 		    X       1,081,866 53,500 76,763
(41) PAMELA J BERNARD........................................................................
PART YEAR VP & UNIVERSITY COUNSEL
 55.00
.......................0.00 		    X       702,209 0 60,737
(42) RACHEL SATTERFIELD........................................................................
TREASURER & VP OF FINANCE
 40.00
.......................0.30 		    X       670,285 0 57,702
(43) MARGARET W EPPS........................................................................
UNIVERSITY SECRETARY
 50.00
.......................0.00 		    X       521,815 0 56,621
(44) KIM TAYLOR........................................................................
PART YEAR VP & UNIVERSITY COUNSEL
 40.00
.......................0.00 		    X       610,592 0 71,263
(45) NEAL F TRIPLETT........................................................................
CHIEF INVESTMENT OFFICER
 50.00
.......................0.40 		      X     4,885,718 0 127,007
(46) GARY BENNETT........................................................................
DEAN, COLLEGE OF A & S
 60.00
.......................0.00 		      X     729,880 0 65,729
(47) JAMES SCOTT GIBSON........................................................................
EXEC VICE DEAN OF ADMIN, SOM
 55.00
.......................0.40 		      X     987,123 0 73,226
(48) JOHN J NOONAN........................................................................
VP FOR FACILITIES
 40.00
.......................0.00 		      X     499,153 0 71,105
(49) KAVITA NAYAR........................................................................
INVESTMENT MANAGER
 40.00
.......................0.00 		      X     1,614,964 0 284,915
(50) JUSTIN B NIXON........................................................................
INVESTMENT MANAGER
 40.00
.......................0.00 		      X     1,921,010 0 360,745
(51) EVAN L JONES........................................................................
INVESTMENT MANAGER
 40.00
.......................0.00 		      X     1,925,902 0 345,870
(52) MANUEL DIAZ........................................................................
COACH
 40.00
.......................0.00 		        X   4,171,974 0 119,221
(53) JONATHAN SCHEYER........................................................................
COACH
 40.00
.......................0.00 		        X   2,764,179 0 63,029
(54) JONATHAN COOK MD........................................................................
PHYSICIAN
 1.90
.......................38.90 		        X   215,316 3,098,678 62,670
(55) JOSEPH TUREK MD........................................................................
PHYSICIAN
 6.20
.......................33.80 		        X   432,127 2,092,811 69,346
(56) JENNIFER FRANCIS........................................................................
PROFESSOR
 40.00
.......................0.00 		        X   2,935,454 0 50,274
(57) MOHAMED NOOR........................................................................
FORMER KEY EMPLOYEE
 40.00
.......................0.00 		          X 548,577 0 62,496
1b Sub-Total..............
c Total from continuation sheets to Part VII, Section A..
d Total (add lines 1b and 1c)......... 32,345,291 5,244,989 2,273,032
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization 7,290
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If "Yes," complete Schedule J for such individual ..............
3
Yes
 
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such
individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If "Yes," complete Schedule J for such person ........
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
GALLAGHER AFFINITY INSURANCE SERVICEE

PO BOX 74715
CHICAGO,IL60694 		INSURANCE SERVICES 34,173,297
ALLEGIS GROUP HOLDINGS INC

3689 COLLECTION CTR DR
CHICAGO,IL60694 		TEMPORARY SERVICES 19,085,667
UNIVERSITY OF NORTH CAROLINA

FRANKLIN ST
CHAPEL HILL,NC27599 		SPONSORED RESEARCH 17,151,668
MID-ATLANTIC INFRASTRUCTURE SYSTEMS

3600 COUNTRY CLUB ROAD SUITE 201
WINSTON SALEM,NC27401 		CONSTRUCTION SERVICES 15,310,074
LECHASE CONSTRUCTION SVCS LLC

320 RONEY ST STE 100
DURHAM,NC27701 		CONSTRUCTION SERVICES 11,860,818
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 949
Form 990 (2024)
Form 990 (2024)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII.............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512 - 514
Contributions, Gifts, Grants, and OtherAmt Similar Amounts 1a Federated campaigns..1a  
b Membership dues..1b  
c Fundraising events..1c 3,331,099
d Related organizations1d 94,738,662
e Government grants (contributions)1e 1,096,468,780
f All other contributions, gifts, grants, and similar amounts not included above1f 780,935,542
g Noncash contributions included in lines 1a - 1f:$ 1g 58,142,135
h Total. Add lines 1a-1f....... 1,975,474,083
Program Service RevenueAmt Business Code
2a TUITION & FEES 611600 1,079,949,645 1,079,949,645    
b ANCILLARY STUDENT SVCS 611600 233,506,534 233,506,534    
c CONTINUING EDUCATION 611600 44,002,721 44,002,721    
d CONFERENCE FEES 611600 10,224,276 10,224,276    
e ACADEMIC MED. RESEARCH 611600 4,060,051 4,060,051    
f All other program service revenue. 108,236,536 101,291,571 6,944,965  
g Total. Add lines 2a–2f ..... 1,479,979,763
OtherAmtRevenueAmt 3 Investment income (including dividends, interest, and othersimilar amounts) ...... 373,172,657     373,172,657
4 Income from investment of tax-exempt bond proceeds        
5 Royalties........... 97,152,279     97,152,279
(i) Real (ii) Personal
6a Gross rents 6a 17,611,293  
b Less: rental expenses 6b 3,425,558  
c Rental income or (loss) 6c 14,185,735  
d Net rental income or (loss)....... 14,185,735     14,185,735
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory 7a 797,945,906 110,775
b Less: cost or other basis and sales expenses 7b 23,035,660 1,616,726
c Gain or (loss) 7c 774,910,246 -1,505,951
d Net gain or (loss)......... 773,404,295     773,404,295
8a Gross income from fundraising events (not including $ 3,331,099of contributions reported on line 1c). See Part IV, line 18 ....
8a 166,119
b Less: direct expenses ... 8b 722,580
c Net income or (loss) from fundraising events.. -556,461   -556,461
9a Gross income from gaming activities.
See Part IV, line 19 ...
9a  
b Less: direct expenses ... 9b  
c Net income or (loss) from gaming activities..        
10a Gross sales of inventory, less
returns and allowances ..
10a  
b Less: cost of goods sold .. 10b  
c Net income or (loss) from sales of inventory..        
OtherRevenueMiscAmt
Business Code
11a MISC SALES 611710 31,267,982 31,267,982    
b STUDENT DUES 611710 3,676,620 3,676,620    
c VARIOUS FEES AND FINES 611710 1,918,593 1,918,593    
d All other revenue .... 4,670,120 4,670,120    
e Total. Add lines 11a–11d ...... 41,533,315
12 Total revenue. See instructions..... 4,754,345,666 1,514,568,113 6,944,965 1,257,358,505
Form 990 (2024)
Form 990 (2024)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).Check if Schedule O contains a response or note to any line in this Part IX..............
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising
expenses
1 Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 .... 36,704,929 36,704,929
2 Grants and other assistance to domestic individuals. See Part IV, line 22 ........... 469,123,131 469,123,131
3 Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. ............. 12,433,201 12,433,201
4 Benefits paid to or for members .......    
5 Compensation of current officers, directors, trustees, and key employees ........... 21,054,072 661,370 19,365,070 1,027,632
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ......... 3,995,728 196,921 3,798,807  
7 Other salaries and wages........ 1,944,558,770 1,659,530,160 232,187,045 52,841,565
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 129,866,460 110,126,794 16,193,675 3,545,991
9 Other employee benefits ....... 220,627,961 189,338,919 23,461,829 7,827,213
10 Payroll taxes ........... 119,598,939 100,871,775 15,456,481 3,270,683
11 Fees for services (non-employees):        
a Management ......        
b Legal ......... 15,811,049 3,766,476 12,026,900 17,673
c Accounting ........... 798,022 45,587 752,435  
d Lobbying ...........        
e Professional fundraising services. See Part IV, line 17 2,537,566 2,537,566
f Investment management fees ...... 38,991,773   38,991,773  
g Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) 222,643,977 150,238,882 63,855,263 8,549,832
12 Advertising and promotion .... 7,972,348 5,564,527 1,323,324 1,084,497
13 Office expenses ....... 116,759,346 114,124,132 900,653 1,734,561
14 Information technology ...... 47,810,881 21,520,474 24,787,717 1,502,690
15 Royalties .. 78,397,188 35,879,874 42,517,314  
16 Occupancy ........... 121,234,603 98,033,930 22,687,983 512,690
17 Travel ............ 54,986,950 49,452,612 2,728,100 2,806,238
18 Payments of travel or entertainment expenses for any federal, state, or local public officials .        
19 Conferences, conventions, and meetings .... 57,658,606 39,542,395 4,387,506 13,728,705
20 Interest ........... 85,568,097 85,531,809 13,064 23,224
21 Payments to affiliates .......        
22 Depreciation, depletion, and amortization .. 267,809,488 254,044,080 13,765,408  
23 Insurance ... 9,867,186 4,934,783 4,925,394 7,009
24 Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a SUBRECIPIENT PAYMENTS 225,818,526 225,818,526    
b EQUIP RENTAL & MAINTENA 72,958,082 72,393,169   564,913
c COST OF GOODS SOLD 40,833,327 37,375,118 3,097,153 361,056
d PRINTING & PUBLICATIONS 6,025,840 4,407,564 313,171 1,305,105
e All other expenses -82,402,104 120,223,407 -204,530,935 1,905,424
25 Total functional expenses. Add lines 1 through 24e 4,350,043,942 3,901,884,545 343,005,130 105,154,267
26 Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).        
Form 990 (2024)
Form 990 (2024)
Page 11
Part X
Balance Sheet
Check if Schedule O contains a response or note to any line in this Part IX..............
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash–non-interest-bearing ........   1  
2 Savings and temporary cash investments ......... 225,617,165 2 237,825,003
3 Pledges and grants receivable, net ...... 591,242,544 3 591,281,708
4 Accounts receivable, net ............. 201,061,330 4 168,965,830
5 Loans and other receivables from any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
  5  
6 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
  6  
7 Notes and loans receivable, net ........... 12,729,788 7 12,163,776
8 Inventories for sale or use ............ 22,709,615 8 20,392,234
9 Prepaid expenses and deferred charges ...... 270,638,346 9 333,788,600
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 7,289,839,785
b Less: accumulated depreciation 10b 4,802,047,737 2,534,816,205 10c 2,487,792,048
11 Investments—publicly traded securities . 3,952,381,281 11 3,604,627,700
12 Investments—other securities. See Part IV, line 11 ..... 11,626,453,966 12 12,971,390,160
13 Investments—program-related. See Part IV, line 11 ..   13  
14 Intangible assets ...............   14  
15 Other assets. See Part IV, line 11 ........... 1,720,822,298 15 1,703,695,750
16 Total assets. Add lines 1 through 15 (must equal line 33)... 21,158,472,538 16 22,131,922,809
Liabilities 17 Accounts payable and accrued expenses ..... 440,355,452 17 515,162,314
18 Grants payable ...   18  
19 Deferred revenue ......... 235,488,465 19 196,258,630
20 Tax-exempt bond liabilities ......... 349,845,000 20 342,845,000
21 Escrow or custodial account liability. Complete Part IV of Schedule D   21  
22 Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
  22  
23 Secured mortgages and notes payable to unrelated third parties .. 2,324,647 23 1,978,680
24 Unsecured notes and loans payable to unrelated third parties .. 2,235,136,104 24 2,234,586,232
25 Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D 1,319,312,685 25 1,317,248,546
26 Total liabilities. Add lines 17 through 25.. 4,582,462,353 26 4,608,079,402
Net Assets or Fund Balance Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27 Net assets without donor restrictions .......... 7,404,738,850 27 7,932,976,430
28 Net assets with donor restrictions ........... 9,171,271,335 28 9,590,866,977
Organizations that do not follow FASB ASC 958, check here right arrow and complete lines 29 through 33.
29 Capital stock or trust principal, or current funds .....   29  
30 Paid-in or capital surplus, or land, building or equipment fund ...   30  
31 Retained earnings, endowment, accumulated income, or other funds   31  
32 Total net assets or fund balances ........... 16,576,010,185 32 17,523,843,407
33 Total liabilities and net assets/fund balances ........ 21,158,472,538 33 22,131,922,809
Form 990 (2024)
Form 990 (2024)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response or note to any line in this Part XI..............
1
Total revenue (must equal Part VIII, column (A), line 12) ............
1
4,754,345,666
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
4,350,043,942
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
404,301,724
4
Net assets or fund balances at beginning of year (must equal Part X, line 32, column (A)) ..
4
16,576,010,185
5
Net unrealized gains (losses) on investments ...............
5
168,836,071
6
Donated services and use of facilities .................
6
 
7
Investment expenses .....................
7
 
8
Prior period adjustments .....................
8
 
9
Other changes in net assets or fund balances (explain in Schedule O) ........
9
374,695,427
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 32, column (B))
10
17,523,843,407
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response or note to any line in this Part XII.............
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain on
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?
2a
 
No
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:
b
Were the organization’s financial statements audited by an independent accountant?
2b
Yes
 
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:
c
If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
2c
Yes
 
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Uniform Guidance, 2 C.F.R. Part 200, Subpart F?
3a
Yes
 
b
If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.
3b
Yes
 
Form 990 (2024)
Form 990 (2024)
Additional Data


Software ID:  
Software Version:  
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE A
(Form 990)

Department of the Treasury
Internal Revenue Service
Public Charity Status and Public Support
Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
right arrow Attach to Form 990 or Form 990-EZ.
right arrow Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public
Inspection
Name of the organization
DUKE UNIVERSITY
 
Employer identification number

56-0532129
Part I
Reason for Public Charity Status (All organizations must complete this part.) See instructions.
The organization is not a private foundation because it is: (For lines 1 through 12, check only one box.)
1
2
3
4
5
6
7
8
9
10
11
12
a
b
c
d
e
f
Enter the number of supported organizations ...............................  
g
Provide the following information about the supported organization(s).
(i) Name of supported organization (ii) EIN (iii) Type of organization (described on lines 1- 10 above (see instructions)) (iv) Is the organization listed in your governing document? (v) Amount of monetary support (see instructions) (vi) Amount of other support (see instructions)
Yes No
Total
 
   
For Paperwork Reduction Act Notice, see the Instructions for
Form 990 or 990-EZ.
Cat. No. 11285F
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 2
Part II
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization failed to qualify under the tests listed below, please complete Part III.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2020 (b) 2021 (c) 2022 (d) 2023 (e) 2024 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") .. 1,644,602,647 1,744,843,238 1,964,557,359 1,974,843,265 1,975,474,083 9,304,320,592
2 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf ....            
3 The value of services or facilities furnished by a governmental unit to the organization without charge..            
4 Total. Add lines 1 through 3 1,644,602,647 1,744,843,238 1,964,557,359 1,974,843,265 1,975,474,083 9,304,320,592
5 The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f) .. 168,832,691
6 Public support. Subtract line 5 from line 4. 9,135,487,901
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2020 (b) 2021 (c) 2022 (d) 2023 (e) 2024 (f) Total
7 Amounts from line 4.. 1,644,602,647 1,744,843,238 1,964,557,359 1,974,843,265 1,975,474,083 9,304,320,592
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources... 159,171,847 147,086,200 398,398,704 442,074,965 484,510,671 1,631,242,387
9 Net income from unrelated business activities, whether or not the business is regularly carried on..            
10 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.).. 1,861,829,048 1,449,609,975 64,490,019 674,345,083 814,937,610 4,865,211,735
11 Total support. Add lines 7 through 10 15,800,774,714
12
12
6,487,908,346
13
First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here ........................................right arrow
Section C. Computation of Public Support Percentage
14
14
57.820 %
15
15
37.130 %
16a
33 1/3% support test—2024. If the organization did not check the box on line 13, and line 14 is 33 1/3% or more, check this box
and stop here. The organization qualifies as a publicly supported organization .......................right arrow
b
33 1/3% support test—2023. If the organization did not check a box on line 13 or 16a, and line 15 is 33 1/3% or more, check this
box and stop here. The organization qualifies as a publicly supported organization ..................... right arrow
17a
10%-facts-and-circumstances test—2024. If the organization did not check a box on line 13, 16a, or 16b, and line 14 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow
b
10%-facts-and-circumstances test—2023. If the organization did not check a box on line 13, 16a, 16b, or 17a, and line 15 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow
18
Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 3
Part III
Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 10 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2020 (b) 2021 (c) 2022 (d) 2023 (e) 2024 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .            
2 Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose            
3 Gross receipts from activities that are not an unrelated trade or business under section 513 .....            
4 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...            
5 The value of services or facilities furnished by a governmental unit to the organization without charge            
6 Total. Add lines 1 through 5            
7a Amounts included on lines 1, 2, and 3 received from disqualified persons            
b Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.            
c Add lines 7a and 7b..            
8 Public support. (Subtract line 7c from line 6.)  
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2020 (b) 2021 (c) 2022 (d) 2023 (e) 2024 (f) Total
9 Amounts from line 6...            
10a Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..            
b Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.            
c Add lines 10a and 10b.            
11 Net income from unrelated business activities not included on line 10b, whether or not the business is regularly carried on.            
12 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) ..            
13 Total support. (Add lines 9, 10c, 11, and 12.)..            
14
First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here................................................. right arrow
Section C. Computation of Public Support Percentage
15
15
 
16
16
 
Section D. Computation of Investment Income Percentage
17
17
 
18
18
 
19a
33 1/3% support tests-2024. If the organization did not check the box on line 14, and line 15 is more than 33 1/3%, and line 17 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ....... right arrow
b
33 1/3 % support tests—2023. If the organization did not check a box on line 14 or line 19a, and line 16 is more than 33 1/3% and line 18 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ..... right arrow
20
Private foundation. If the organization did not check a box on line 14, 19a, or 19b, check this box and see instructions .... right arrow
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 4
Part IV
Supporting Organizations
(Complete only if you checked a box on line 12 of Part I. If you checked box 12a, of Part I, complete Sections A and B. If you checked box 12b, of Part I, complete Sections A and C. If you checked box 12c, of Part I, complete Sections A, D, and E. If you checked box12d, of Part I, complete Sections A and D, and complete Part V.)
Section A. All Supporting Organizations
Yes
No
1
Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.
1
 
 
2
Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).
2
 
 
3a
Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer lines 3b and 3c below.
3a
 
 
b
Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.
3b
 
 
c
Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.
3c
 
 
4a
Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked box 12a or 12b in Part I, answer lines 4b and 4c below.
4a
 
 
b
Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations.
4b
 
 
c
Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.
4c
 
 
5a
Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer lines 5b and 5c below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed; (ii) the reasons for each such action; (iii) the authority under the organization's organizing document authorizing such action; and (iv) how the action was accomplished (such as by amendment to the organizing document).
5a
 
 
b
Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?
5b
 
 
c
Substitutions only. Was the substitution the result of an event beyond the organization's control?
5c
 
 
6
Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (i) its supported organizations, (ii) individuals that are part of the charitable class benefited by one or more of its supported organizations, or (iii) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.
6
 
 
7
Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in section 4958(c)(3)(C)), a family member of a substantial contributor, or a 35% controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990) .
7
 
 
8
Did the organization make a loan to a disqualified person (as defined in section 4958) not described on line 7? If “Yes,” complete Part I of Schedule L (Form 990).
8
 
 
9a
Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons, as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.
9a
 
 
b
Did one or more disqualified persons (as defined on line 9a) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.
9b
 
 
c
Did a disqualified person (as defined on line 9a) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.
9c
 
 
10a
Was the organization subject to the excess business holdings rules of section 4943 because of section 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer line 10b below.
10a
 
 
b
Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).
10b
 
 
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 5
Part IV
Supporting Organizations (continued)
Yes
No
11
Has the organization accepted a gift or contribution from any of the following persons?
a
A person who directly or indirectly controls, either alone or together with persons described on lines 11b and 11c below, the governing body of a supported organization?
11a
 
 
b
A family member of a person described on 11a above?
11b
 
 
c
A 35% controlled entity of a person described on line 11a or 11b above? If “Yes” to 11a, 11b, or 11c, provide detail in Part VI.
11c
 
 
Section B. Type I Supporting Organizations
Yes
No
1
Did the officers, directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.
1
 
 
2
Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.
2
 
 
Section C. Type II Supporting Organizations
Yes
No
1
Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).
1
 
 
Section D. All Type III Supporting Organizations
Yes
No
1
Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (i) a written notice describing the type and amount of support provided during the prior tax year, (ii) a copy of the Form 990 that was most recently filed as of the date of notification, and (iii) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?
1
 
 
2
Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).
2
 
 
3
By reason of the relationship described in line 2 above, did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.
3
 
 
Section E. Type III Functionally-Integrated Supporting Organizations
1
Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):
a
b
c
2
Activities Test. Answer lines 2a and 2b below.
Yes
No
a
Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.
2a
 
 
b
Did the activities described on line 2a, above constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.
2b
 
 
3
Parent of Supported Organizations. Answer lines 3a and 3b below.
a
Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations?If "Yes" or "No", provide details in Part VI.
3a
 
 
b
Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI. the role played by the organization in this regard.
3b
 
 
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 6
Part V
Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations
1
Section A - Adjusted Net Income (A) Prior Year (B) Current Year
(optional)
1 Net short-term capital gain 1    
2 Recoveries of prior-year distributions 2    
3 Other gross income (see instructions) 3    
4 Add lines 1 through 3 4    
5 Depreciation and depletion 5    
6 Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) 6    
7 Other expenses (see instructions) 7    
8 Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) 8    
Section B - Minimum Asset Amount (A) Prior Year (B) Current Year
(optional)
1 Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): 1
a Average monthly value of securities 1a    
b Average monthly cash balances 1b    
c Fair market value of other non-exempt-use assets 1c    
d Total (add lines 1a, 1b, and 1c) 1d    
e Discount claimed for blockage or other factors
(explain in detail in Part VI):  
2 Acquisition indebtedness applicable to non-exempt use assets 2    
3 Subtract line 2 from line 1d 3    
4 Cash deemed held for exempt use. Enter 0.015 of line 3 (for greater amount, see instructions). 4    
5 Net value of non-exempt-use assets (subtract line 4 from line 3) 5    
6 Multiply line 5 by 0.035 6    
7 Recoveries of prior-year distributions 7    
8 Minimum Asset Amount (add line 7 to line 6) 8    
Section C - Distributable Amount Current Year
1 Adjusted net income for prior year (from Section A, line 8, Column A) 1  
2 Enter 85% of line 1 2  
3 Minimum asset amount for prior year (from Section B, line 8, Column A) 3  
4 Enter greater of line 2 or line 3 4  
5 Income tax imposed in prior year 5  
6 Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) 6  
7
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 7
Part V
Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations(continued)
Section D - Distributions Current Year
1 Amounts paid to supported organizations to accomplish exempt purposes 1  
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in
excess of income from activity 		2  
3 Administrative expenses paid to accomplish exempt purposes of supported organizations 3  
4 Amounts paid to acquire exempt-use assets 4  
5 Qualified set-aside amounts (prior IRS approval required - provide details in Part VI) 5  
6 Other distributions (describe in Part VI). See instructions 6  
7Total annual distributions. Add lines 1 through 6. 7  
8 Distributions to attentive supported organizations to which the organization is responsive (provide
details in Part VI). See instructions 		8  
9 Distributable amount for 2024 from Section C, line 6 9  
10 Line 8 amount divided by Line 9 amount 10  
Section E - Distribution Allocations (see instructions) (i)
Excess Distributions 		(ii)
Underdistributions
Pre-2024 		(iii)
Distributable
Amount for 2024
1 Distributable amount for 2024 from Section C, line 6  
2 Underdistributions, if any, for years prior to 2024 (reasonable cause required-- explain in Part VI).
See instructions.		  
3 Excess distributions carryover, if any, to 2024:
a From 2019.......  
b From 2020.......  
c From 2021.......  
d From 2022.......  
e From 2023.......  
fTotal of lines 3a through e  
g Applied to underdistributions of prior years  
h Applied to 2024 distributable amount  
i Carryover from 2019 not applied (see
instructions) 		 
j Remainder. Subtract lines 3g, 3h, and 3i from line 3f.  
4Distributions for 2024 from Section D, line 7:
$  
a Applied to underdistributions of prior years  
b Applied to 2024 distributable amount  
c Remainder. Subtract lines 4a and 4b from line 4.  
5 Remaining underdistributions for years prior to
2024, if any. Subtract lines 3g and 4a from line 2.
If the amount is greater than zero, explain in Part VI.
See instructions. 		 
6 Remaining underdistributions for 2024. Subtract
lines 3h and 4b from line 1. If the amount is greater
than zero, explain in Part VI. See instructions. 		 
7 Excess distributions carryover to 2025. Add lines
3j and 4c. 		 
8 Breakdown of line 7:
a Excess from 2020.....  
b Excess from 2021.....  
c Excess from 2022.....  
d Excess from 2023.....  
e Excess from 2024.....  
Schedule A (Form 990) (2024)

Schedule A (Form 990) 2024
Page 8
Part VI
Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
 
Return Reference Explanation
SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GAIN/LOSS ON SECURITIES - 2020 AMOUNT: $ 1,825,869,704 2021 AMOUNT: $ 1,407,117,622 2022 AMOUNT: $ 25,438,675. 2023 AMOUNT: $ 636,686,175. 2024 AMOUNT: $ 773,404,295. OTHER REVENUE - 2020 AMOUNT: $ 35,959,344. 2021 AMOUNT: $ 42,492,353. 2022 AMOUNT: $ 39,051,344. 2023 AMOUNT: $ 37,658,908. 2024 AMOUNT: $ 41,533,315.
Schedule A (Form 990) 2024


Additional Data


Software ID:  
Software Version:  
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

right arrow Attach to Form 990, 990-EZ, or 990-PF.
right arrow Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
Name of the organization
DUKE UNIVERSITY
 
Employer identification number

56-0532129
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ
501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization


Form 990-PF
501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation
Check if your organization is covered by the General Rule or a Special Rule.  
Note:  Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025) Page 2
Name of organization
DUKE UNIVERSITY
  		Employer identification number
56-0532129
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
RESTRICTED
 
 
 
 
  ,    

$ RESTRICTED


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 3
Name of organization
DUKE UNIVERSITY
  		Employer identification number

56-0532129
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 4
Name of organization
DUKE UNIVERSITY
  		Employer identification number

56-0532129
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  
SCHEDULE C
(Form 990)

Department of the Treasury
Internal Revenue Service
Political Campaign and Lobbying Activities

For Organizations Exempt From Income Tax Under section 501(c) and section 527

right arrow Complete if the organization is described below. right arrow Attach to Form 990 or Form 990-EZ.
right arrowGo to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public
Inspection
If the organization answered "Yes" on Form 990, Part IV, Line 3, or Form 990-EZ, Part V, line 46 (Political Campaign Activities), then
Round Bullet Section 501(c)(3) organizations: Complete Parts I-A and B. Do not complete Part I-C.
Round Bullet Section 501(c) (other than section 501(c)(3)) organizations: Complete Parts I-A and C below. Do not complete Part I-B.
Round Bullet Section 527 organizations: Complete Part I-A only.
If the organization answered "Yes" on Form 990, Part IV, Line 4, or Form 990-EZ, Part VI, line 47 (Lobbying Activities), then
Round Bullet Section 501(c)(3) organizations that have filed Form 5768 (election under section 501(h)): Complete Part II-A. Do not complete Part II-B.
Round Bullet Section 501(c)(3) organizations that have NOT filed Form 5768 (election under section 501(h)): Complete Part II-B. Do not complete Part II-A.
If the organization answered "Yes" on Form 990, Part IV, Line 5 (Proxy Tax) (see separate instructions) or Form 990-EZ, Part V, line 35c (Proxy Tax) (see separate instructions), then
Round Bullet Section 501(c)(4), (5), or (6) organizations: Complete Part III.
Name of the organization
DUKE UNIVERSITY
 
Employer identification number

56-0532129
Part I-A
Complete if the organization is exempt under section 501(c) or is a section 527 organization.

1
Provide a description of the organization’s direct and indirect political campaign activities in Part IV. See instructions for definition of “political campaign activities."

2
Political campaign activity expenditures. See instructions ....................................................................right arrow
$  
3
Volunteer hours for political campaign activities. See instructions ..................................................................
 

Part I-B
Complete if the organization is exempt under section 501(c)(3).
1
Enter the amount of any excise tax incurred by the organization under section 4955 ................................right arrow
$  
2
Enter the amount of any excise tax incurred by organization managers under section 4955 .......................right arrow
$  
3
If the organization incurred a section 4955 tax, did it file Form 4720 for this year? .........................................
4a
Was a correction made? ......................................................................................................................
b
If "Yes," describe in Part IV.
Part I-C
Complete if the organization is exempt under section 501(c), except section 501(c)(3).
1
Enter the amount directly expended by the filing organization for section 527 exempt function activities ..... right arrow
$  
2
Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt function activities ............................................................................................................................right arrow

$  
3
Total exempt function expenditures. Add lines 1 and 2. Enter here and on Form 1120-POL, line 17b...........right arrow

$  
4
Did the filing organization file Form 1120-POL for this year? ...................................................................
5
Enter the names, addresses and employer identification number (EIN) of all section 527 political organizations to which the filing
organization made payments. For each organization listed, enter the amount paid from the filing organization’s funds. Also enter the amount of political contributions received that were promptly and directly delivered to a separate political organization, such as a separate segregated fund or a political action committee (PAC). If additional space is needed, provide information in Part IV.
(a) Name (b) Address (c) EIN (d) Amount paid from filing organization's funds. If none, enter -0-. (e) Amount of political contributions received and promptly and directly delivered to a separate political organization. If none, enter -0-.
1
2
3
4
5
6
For Paperwork Reduction Act Notice, see the instructions for Form 990.
Cat. No. 50084S
Schedule C (Form 990) 2024

Schedule C (Form 990) 2024
Page 2
Part II-A
Complete if the organization is exempt under section 501(c)(3) and filed Form 5768 (election under section 501(h)).
A Check right arrowexpenses, and share of excess lobbying expenditures).
B Check right arrow
Limits on Lobbying Expenditures
(The term "expenditures" means amounts paid or incurred.) 		(a) Filing
organization's
totals 		(b) Affiliated group totals
1a Total lobbying expenditures to influence public opinion (grass roots lobbying) ......................    
b Total lobbying expenditures to influence a legislative body (direct lobbying) ........................    
c Total lobbying expenditures (add lines 1a and 1b) ............................................................    
d Other exempt purpose expenditures ...............................................................................    
e Total exempt purpose expenditures (add lines 1c and 1d) ..................................................    
f Lobbying nontaxable amount. Enter the amount from the following table in both
columns.		    
If the amount on line 1e, column (a) or (b) is:The lobbying nontaxable amount is:
Not over $500,00020% of the amount on line 1e.
Over $500,000 but not over $1,000,000$100,000 plus 15% of the excess over $500,000.
Over $1,000,000 but not over $1,500,000$175,000 plus 10% of the excess over $1,000,000.
Over $1,500,000 but not over $17,000,000$225,000 plus 5% of the excess over $1,500,000.
Over $17,000,000$1,000,000.
g Grassroots nontaxable amount (enter 25% of line 1f) .................................................    
h Subtract line 1g from line 1a. If zero or less, enter -0-. ................................................    
i Subtract line 1f from line 1c. If zero or less, enter -0-. ................................................    
j If there is an amount other than zero on either line 1h or line 1i, did the organization file Form 4720 reporting
section 4911 tax for this year? ...................................................................................................................

4-Year Averaging Period Under Section 501(h)
(Some organizations that made a section 501(h) election do not have to complete all of the five
columns below. See the separate instructions for lines 2a through 2f.)
Lobbying Expenditures During 4-Year Averaging Period
Calendar year (or fiscal year
beginning in) 		(a) 2021 (b) 2022 (c) 2023 (d) 2024 (e) Total
2a Lobbying nontaxable amount          
b Lobbying ceiling amount
(150% of line 2a, column(e)) 		 
c Total lobbying expenditures          
d Grassroots nontaxable amount          
e Grassroots ceiling amount
(150% of line 2d, column (e))		  
f Grassroots lobbying expenditures          
Schedule C (Form 990) 2024


Schedule C (Form 990) 2024
Page 3
Part II-B
Complete if the organization is exempt under section 501(c)(3) and has NOT filed Form 5768 (election under section 501(h)).
For each "Yes" response on lines 1a through 1i below, provide in Part IV a detailed description of the lobbying activity.
(a)
Yes
No
(b)
Amount
1
During the year, did the filing organization attempt to influence foreign, national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of:
a
Volunteers? ...........................................................................................................
 
No
b
Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? ........
Yes
 
c
Media advertisements? ...................................................................................................
 
No
 
d
Mailings to members, legislators, or the public? .............................................................................
 
No
 
e
Publications, or published or broadcast statements? ...........................................................
 
No
 
f
Grants to other organizations for lobbying purposes? ..........................................................
 
No
 
g
Direct contact with legislators, their staffs, government officials, or a legislative body? .......................
Yes
 
536,033
h
Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? ..................
 
No
 
i
Other activities? ...................................................................................................................
Yes
 
40,273
j
Total. Add lines 1c through 1i ....................................................................................................
576,306
2a
Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? .....
 
No
b
If "Yes," enter the amount of any tax incurred under section 4912 ...........................................
 
c
If "Yes," enter the amount of any tax incurred by organization managers under section 4912 ...................
 
d
If the filing organization incurred a section 4912 tax, did it file Form 4720 for this year? ........................
 
 
Part III-A
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6).
Yes
No
1
Were substantially all (90% or more) dues received nondeductible by members? ...............................................
1
 
 
2
Did the organization make only in-house lobbying expenditures of $2,000 or less? ............................................
2
 
 
3
Did the organization agree to carry over lobbying and political expenditures from the prior year? .................................
3
 
 
Part III-B
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6) and if either (a) BOTH Part III-A, lines 1 and 2, are answered "No" OR (b) Part III-A, line 3, is answered “Yes."
1
Dues, assessments and similar amounts from members ......................................................................
1
 
2
Section 162(e) nondeductible lobbying and political expenditures (do not include amounts of political expenses for which the section 527(f) tax was paid).
a
Current year .............................................................................................................................
2a
 
b
Carryover from last year ............................................................................................................
2b
 
c
Total ...........................................................................................................................................
2c
 
3
Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues .
3
 
4
If notices were sent and the amount on line 2c exceeds the amount on line 3, what portion of the excess does the organization agree to carryover to the reasonable estimate of nondeductible lobbying and political expenditure next year? ......................................................................................................................
4
 
5
Taxable amount of lobbying and political expenditures. See Instructions .........................................
5
 
Part IV
Supplemental Information
Provide the descriptions required for Part l-A, line 1; Part l-B, line 4; Part l-C, line 5; Part II-A (affiliated group list); Part II-A, lines 1 and 2 (see instructions), and Part ll-B, line 1. Also, complete this part for any additional information.
Return Reference Explanation
FORM 990, SCHEDULE C, PART II-B DUKE UNIVERSITY EMPLOYS STAFF WHO PERFORM SOME LOBBYING ACTIVITIES AS PART OF THEIR JOB RESPONSIBILITIES. THESE SAME EMPLOYEES HAVE AND SOME SENIOR LEADERS OF THE ORGANIZATION MAY HAVE DIRECT CONTACT WITH LEGISLATORS, THEIR STAFFS, AND GOVERNMENT OFFICIALS. DUKE UNIVERSITY PAYS MEMBERSHIP DUES TO OTHER ORGANIZATIONS. PER THE MEMBERSHIP DUES INVOICES, SOME OF THESE ORGANIZATIONS PROVIDE A DISCLOSURE OF LOBBYING PERCENTAGE OF THE DUES RECEIVED.
Schedule C (Form 990) 2024


Additional Data


Software ID:  
Software Version:  

SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
right arrow Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
right arrow Attach to Form 990.
right arrow Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
DUKE UNIVERSITY
 
Employer identification number

56-0532129
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .........    
2 Aggregate value of contributions to (during year)    
3 Aggregate value of grants from (during year)    
4 Aggregate value at end of year ........    
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................
Part II
Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ...................... 2a 1
b Total acreage restricted by conservation easements .................... 2b 0.21
c Number of conservation easements on a certified historic structure included in (a) ..... 2c 0
d Number of conservation easements included in (c) acquired after July 25, 2006, and not on a historic structure listed in the National Register ... 2d 0
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year right arrow  
4
Number of states where property subject to conservation easement is located right arrow1
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............
6
Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow  
7
Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................
9
In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:
(i)
Revenue included on Form 990, Part VIII, line 1 .........................right arrow $ 1,286,900
(ii)
Assets included in Form 990, Part X ...............................right arrow $ 57,014,698
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:
a
Revenue included on Form 990, Part VIII, line 1 ..........................right arrow $  
b
Assets included in Form 990, Part X ...............................right arrow $  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) (Rev. 1-2025)

Schedule D (Form 990) (Rev. 1-2025)
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?...
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b If "Yes," explain the arrangement in Part XIII and complete the following table: Amount
c Beginning balance ............................. 1c  
d Additions during the year ............................ 1d  
e Distributions during the year .......................... 1e  
f Ending balance ................................ 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ....
Part V
Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.
(a) Current year (b) Prior year (c) Two years back (d) Three years back (e) Four years back
1a Beginning of year balance .... 11,848,931,622 11,563,067,500 12,075,706,572 12,650,280,988 8,446,092,302
b Contributions ... 132,835,375 140,177,288 184,965,874 152,726,663 179,916,138
c Net investment earnings, gains, and losses 885,724,900 697,427,505 -254,889,234 -309,426,343 4,490,240,275
d Grants or scholarships ... 139,222,350 136,834,060 116,237,714 111,275,744 103,342,939
e Other expenditures for facilities
and programs ... 		427,262,842 391,403,769 302,106,147 287,787,237 342,917,950
f Administrative expenses .... 26,600,276 23,502,841 24,371,851 18,811,755 19,706,838
g End of year balance ...... 12,274,406,429 11,848,931,622 11,563,067,500 12,075,706,572 12,650,280,988
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment right arrow27.640 %
b
Permanent endowment right arrow62.590 %
c
Term endowment right arrow9.770 %
The percentages on lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) Unrelated organizations .................
3a(i)
Yes
 
(ii) Related organizations .................
3a(ii)
Yes
 
b
If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
Yes
 
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property (a) Cost or other basis
(investment) 		(b) Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .....   37,904,025 37,904,025
b Buildings ....   5,089,902,860 3,166,509,503 1,923,393,357
c Leasehold improvements   363,551,887 282,857,404 80,694,483
d Equipment ....   962,777,162 766,607,302 196,169,860
e Other .....   835,703,851 586,073,528 249,630,323
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..right arrow 2,487,792,048
Schedule D (Form 990) (Rev. 1-2025)

Schedule D (Form 990) (Rev. 1-2025)
Page 3
Part VII
Investments - Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1) Financial derivatives.........    
(2) Closely-held equity interests........    
(3) Other
(A) SHORT TERM INVESTMENTS		 194,569,497 F

(B) REAL ASSETS		 1,541,586,954 F

(C) PRIVATE CAPITAL		 5,255,125,870 F

(D) HEDGED STRATEGIES		 3,038,268,643 F

(E) OTHER INVESTMENTS		 -119,251,122 F

(F) FIXED INCOME		 2,632,475,897 F

(G) EQUITIES		 428,614,421 F
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)right arrow 12,971,390,160
Part VIII
Investments - Program Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.
(a) Description of investment (b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)right arrow  
Part IX
Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.
(a) Description (b) Book value
(1)INTEREST IN PERPETUAL TRUST HELD BY OTHERS 1,197,404,780
(2)OPERATING LEASE RIGHT-OF-USE ASSET 506,288,375
(3)DEPOSITS WITH BOND TRUSTEES 2,595
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........right arrow 1,703,695,750
Part X
Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.
1.(a) Description of liability (b) Book value
(1) Federal income taxes  
ANNUITY AND SPLIT INTEREST OBLIGATIONS 69,049,807
POSTRETIREMENT HEALTHCARE BENEFIT OBLIGATIONS 421,684,519
FUNDS HELD FOR OTHERS 106,596,781
REFUNDABLE FEDERAL STUDENT LOANS 9,339,997
CONDITIONAL ASSET RETIREMENT 40,076,995
INTERNATIONAL LOAN RESERVE 6,419,926
GENERAL INSURANCE IBNR 51,845,100
OTHER 700
OPERATING LEASE LIABILITY 563,261,010
NET INVESTMENT INCOME TAX 48,973,711
Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)right arrow 1,317,248,546
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII
Schedule D (Form 990) (Rev. 1-2025)

Schedule D (Form 990) (Rev. 1-2025)
Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total revenue, gains, and other support per audited financial statements ....... 1  
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains (losses) on investments .... 2a  
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ........... 2d  
e Add lines 2a through 2d ..................... 2e  
3 Subtract line 2e from line 1.................. 3  
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a  
b Other (Describe in Part XIII.) ........... 4b  
c Add lines 4a and 4b.................... 4c  
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5  
Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total expenses and losses per audited financial statements ........... 1  
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities ......... 2a  
b Prior year adjustments ............ 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIII.) ........... 2d  
e Add lines 2a through 2d.................... 2e  
3 Subtract line 2e from line 1................... 3  
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a  
b Other (Describe in Part XIII.) ........... 4b  
c Add lines 4a and 4b..................... 4c  
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5  
Part XIII
Supplemental Information
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference Explanation
PART II, LINE 5: DUKE FOREST, A DEPARTMENT WITHIN DUKE UNIVERSITY, IS COMMITTED TO PROTECTING THE PURPOSE OF THE CONSERVATION EASEMENT. ACCORDINGLY, A WRITTEN MONITORING PROGRAM WAS DEVELOPED TO MAINTAIN AND PROTECT 12 SIGNIFICANT NATURAL HERITAGE AREAS WITHIN NORTH CAROLINA, INCLUDING THE CONSERVATION EASEMENT NOTED ON SCHEDULE D, PART II. THE POLICY INCLUDES DETAILS ABOUT CONDUCTING AN ONSITE INSPECTION, DOCUMENTING ALL FINDINGS ACCORDING TO A SITE-SPECIFIC MONITORING CHECKLIST. A POST-MONITORING REPORT AND OTHER DOCUMENTATION IS COMPLETED AS NECESSARY. DUKE FOREST STAFF (AND OTHER EXPERTS AS NECESSARY) ARE CONSULTED TO DETERMINE IF STEWARDSHIP EFFORTS ARE NECESSARY TO ENSURE THE PURPOSE OF THE CONSERVATION EASEMENT. WHILE NOT IN THE WRITTEN DOCUMENT, THE INITIAL STEP TAKEN BY DUKE FOREST WOULD BE TO CONTACT THE RESPONSIBLE PARTY TO REQUEST REMEDY OF THE INFRACTION. SUBSEQUENT STEPS WOULD INCLUDE, BUT ARE NOT LIMITED TO CONSULTING WITH UNIVERSITY COUNSEL. THE EASEMENT DOCUMENTS DO NOT INCLUDE THE POLICY AS THE EASEMENT DOCUMENTS WERE CREATED BEFORE THE POLICY DOCUMENT.
PART II, LINE 9: THE CONSERVATION EASEMENT REPORTED ABOVE WAS NOT INCLUDED IN DUKE UNIVERSITY'S STATEMENT OF ACTIVITIES, BALANCE SHEET, NOR FOOTNOTES TO THE FINANCIAL STATEMENTS.
SCHEDULE D, PART III, LINE 4 ART COLLECTION DUKE UNIVERSITY'S COLLECTION OF ART, INCLUDING THOSE PIECES MAINTAINED IN THE NASHER MUSEUM OF ART AT DUKE UNIVERSITY, FOSTERS THE UNDERSTANDING AND APPRECIATION OF THE VISUAL ARTS BY PROVIDING DIRECT EXPERIENCE WITH ORIGINAL WORKS OF ART SUPPORTED BY A RANGE OF EXHIBITIONS, PROGRAMS AND PUBLICATIONS FOR THE UNIVERSITY AND BROADER COMMUNITY. THE MUSEUM DRAWS ON THE INTELLECTUAL RESOURCES OF THE RESEARCH UNIVERSITY AND SERVES AS A LABORATORY OF THE ARTS DEDICATED TO MULTIDISCIPLINARY APPROACHES TO LEARNING.
SCHEDULE D, PART V, LINE 4 USE OF ENDOWMENT FUNDS THE INTENDED USES OF THE ENDOWMENT FUNDS ARE FOR INSTRUCTION, RESEARCH, LIBRARY AND FINANCIAL AID.
SCHEDULE D, PART X LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FASB ASC 740 DUKE UNIVERSITY ADOPTED THE REQUIREMENTS OF FASB ASC 740 AND CONSIDERED ITS TAX POSITION. BASED ON THAT ANALYSIS, THE PROVISIONS OF FASB ASC 740 ARE DEEMED IMMATERIAL TO THE UNIVERSITY'S FINANCIAL STATEMENTS, AND THEREFORE, NO FASB ASC 740 SPECIFIC DISCLOSURES ARE MADE IN THE UNIVERSITY'S AUDITED FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2025.
Schedule D (Form 990) (Rev. 1-2025)


Additional Data


Software ID:  
Software Version:  




SCHEDULE E(Form 990)
(Rev. January 2025)


Department of the Treasury
Internal Revenue Service
Schools

Right pointing arrow large image Complete if the organization answered "Yes" on Form 990,
Part IV, line 13, or Form 990-EZ, Part VI, line 48.
Right pointing arrow large image Attach to Form 990 or Form 990-EZ.
Right pointing arrow large image Go to www.irs.gov/Form990EZ for instructions and the latest information.
OMB No. 1545-0047Open to Public Inspection
Name of the organization
DUKE UNIVERSITY
 
Employer identification number

56-0532129
Part I
YES
NO
1
Does the organization have a racially nondiscriminatory policy toward students by statement in its charter, bylaws,
other governing instrument, or in a resolution of its governing body? . . . . . . . . . . . . . . . . . .
1
Yes
 
2
Does the organization include a statement of its racially nondiscriminatory policy toward students in all its
brochures, catalogues, and other written communications with the public dealing with student admissions,
programs, and scholarships? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
Yes
 
3
Has the organization publicized its racially nondiscriminatory policy on its primary publicly accessible Internet homepage at
all times during its taxable year in a manner reasonably expected to be noticed by visitors to the homepage, or through
newspaper or broadcast media during the period of solicitation for students, or during the registration period if it has no
solicitation program, in a way that makes the policy known to all parts of the general community it serves? If "Yes," please
describe. If "No," please explain. If you need more space use Part II. . . . . . . . . . . . . . . . . . .
3
Yes
 
 
4
Does the organization maintain the following:
a
Records indicating the racial composition of the student body, faculty, and administrative staff? . . . . . . . . .
4a
Yes
 
b
Records documenting that scholarships and other financial assistance are awarded on a racially nondiscriminatory
basis? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4b
Yes
 
c
Copies of all catalogues, brochures, announcements, and other written communications to the public dealing
with student admissions, programs, and scholarships? . . . . . . . . . . . . . . . . . . . . . . .
4c
Yes
 
d
Copies of all material used by the organization or on its behalf to solicit contributions? . . . . . . . . . . . .
4d
Yes
 
If you answered "No" to any of the above, please explain. If you need more space, use Part II.
 
5
Does the organization discriminate by race in any way with respect to:
a
Students' rights or privileges? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5a
 
No
b
Admissions policies? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5b
 
No
c
Employment of faculty or administrative staff? . . . . . . . . . . . . . . . . . . . . . . . . .
5c
 
No
d
Scholarships or other financial assistance? . . . . . . . . . . . . . . . . . . . . . . . . . .
5d
 
No
e
Educational policies? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5e
 
No
f
Use of facilities? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5f
 
No
g
Athletic programs? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5g
 
No
h
Other extracurricular activities? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5h
 
No
If you answered "Yes" to any of the above, please explain. If you need more space, use Part II.
 
6a
Does the organization receive any financial aid or assistance from a governmental agency? . . . . . . . . . .
6a
Yes
 
b
Has the organization's right to such aid ever been revoked or suspended? . . . . . . . . . . . . . . . .
6b
 
No
If you answered "Yes" to either line 6a or line 6b, explain in Part II.
7
Does the organization certify that it has complied with the applicable requirements of sections 4.01 through 4.05
of Rev. Proc. 75-50, 1975-2 C.B. 587, as modified by Rev. Proc. 2019-22, 2019-22 I.R.B. 1260, covering racial nondiscrimination? If "No," explain in Part II. . . . . . . . . . . . . . . . . . . . . . . . . .
7
Yes
 
Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 50085D
Schedule E (Form 990) (Rev. 1-2025)
Schedule E (Form 990) (Rev. 1-2025)
Page 2
Part II
Supplemental Information. Provide the explanations required by Part I, lines 3, 4d, 5h, 6b, and 7, as applicable. Also provide
any other additional information. See instructions.
Return Reference Explanation
FORM 990, SCHEDULE E, LINE 3 EQUAL OPPORTUNITY AND NON DISCRIMINATION STATEMENT DUKE UNIVERSITY AND DUKE UNIVERSITY HEALTH SYSTEM ("DUKE") ARE COMMITTED TO ENCOURAGING AND SUSTAINING A LEARNING AND WORK COMMUNITY FREE FROM DISCRIMINATION, HARASSMENT, AND RELATED MISCONDUCT. DUKE IS COMMITTED TO MAINTAINING AN INCLUSIVE COMMUNITY THAT RESPECTS AND VALUES ALL OF ITS MEMBERS, INCLUDING, BUT IS NOT LIMITED TO, FULL AND PART-TIME STUDENTS AND EMPLOYEES, INCLUDING FACULTY MEMBERS, PHYSICIANS, STAFF EMPLOYEES, UNDERGRADUATE STUDENTS, GRADUATE AND PROFESSIONAL STUDENTS, DOCTORAL STUDENTS, POSTDOCTORAL SCHOLARS AND FELLOWS, MEDICAL RESIDENTS, STUDENT EMPLOYEES, AND TEMPORARY AND CONTRACT EMPLOYEES, INCLUDING HOUSE STAFF, AND THIRD PARTIES WHO ARE WITHIN DUKE'S PROGRAMS AND ACTIVITIES, INCLUDING APPLICANTS FOR ADMISSION AND EMPLOYMENT, VISITORS, VISITING SCHOLARS, PATIENTS, EMPLOYEES OF DUKE CONTRACTORS, AND PROGRAM PARTICIPANTS. THE OFFICE FOR INSTITUTIONAL EQUITY (OIE) IS RESPONSIBLE FOR ADMINISTERING THE POLICY ON PROHIBITED DISCRIMINATION, HARASSMENT, AND RELATED MISCONDUCT ("POLICY") AND ITS IMPLEMENTING PROCEDURES. THE VICE PRESIDENT FOR INSTITUTIONAL EQUITY IS DUKE'S DESIGNATED COORDINATOR FOR SECTION 504 OF THE REHABILITATION ACT OF 1973 AND THE AGE DISCRIMINATION ACT OF 1975. THE ASSOCIATE VICE PRESIDENT FOR INSTITUTIONAL EQUITY, EQUAL OPPORTUNITY AND COMPLIANCE IS DUKE'S DESIGNATED COORDINATOR FOR TITLE IX OF THE EDUCATION AMENDMENTS OF 1972. THESE OFFICERS MAY BE CONTACTED AT THE OFFICE FOR INSTITUTIONAL EQUITY, SMITH WAREHOUSE, 114 S. BUCHANAN BLVD., BAY 8, DURHAM, NORTH CAROLINA 27708, (919) 684-8222, OIE-HELP@DUKE.EDU. THIS POLICY PROHIBITS DISCRIMINATION AND HARASSMENT ON THE BASIS OF AGE, COLOR, DISABILITY, GENDER, GENDER EXPRESSION, GENDER IDENTITY, GENETIC INFORMATION, NATIONAL ORIGIN, RACE, RELIGION, SEX (INCLUDING PREGNANCY), SEXUAL ORIENTATION, OR MILITARY STATUS (COLLECTIVELY, "PROTECTED STATUS OR "PROTECTED CHARACTERISTICS"). THIS PROHIBITION INCLUDES DISCRIMINATION AND HARASSMENT BASED ON THE PERCEPTION OF AN INDIVIDUAL'S PROTECTED STATUS, EVEN IF THAT PERCEPTION IS INCORRECT. THE POLICY ALSO PROHIBITS RELATED MISCONDUCT, SUCH AS SEXUAL ASSAULT, RELATIONSHIP VIOLENCE, STALKING, AND RETALIATION. THIS POLICY APPLIES TO ALL OPERATIONS OF DUKE UNIVERSITY AND DUKE UNIVERSITY HEALTH SYSTEM. THE POLICY SHOULD BE READ CONSISTENTLY WITH ALL APPLICABLE FEDERAL, STATE AND LOCAL LAWS ADDRESSING DISCRIMINATION, HARASSMENT, AND RELATED MISCONDUCT. ADDITIONAL INFORMATION, INCLUDING THE COMPLETE TEXT OF THE POLICY ON PROHIBITED DISCRIMINATION, HARASSMENT, AND RELATED MISCONDUCT AND APPROPRIATE COMPLAINT PROCEDURES, MAY BE FOUND BY VISITING THE OFFICE FOR INSTITUTIONAL EQUITY'S WEBSITE AT: HTTPS://OIE.DUKE.EDU/. FOR FURTHER INFORMATION ON NOTICE OF NONDISCRIMINATION, YOU CAN CONTACT THE UNIVERSITY OFFICE NOTED ABOVE,OR VISIT HTTPS://WWW2.ED.GOV/ABOUT/OFFICES/LIST/OCR/INDEX.HTML, FOR THE ADDRESS AND PHONE NUMBER OF THE OFFICE FOR CIVIL RIGHTS, U.S. DEPARTMENT OF EDUCATION, OFFICE THAT SERVES YOUR AREA, OR CALL 1-800-421-3481. DISSEMINATION THE EQUAL EMPLOYMENT OPPORTUNITY POLICY IS DISTRIBUTED TO ALL MEMBERS OF THE DUKE COMMUNITY. POLICY INFORMATION IS PROVIDED TO NEW EMPLOYEES AT ORIENTATION SESSIONS AND TO UNION OFFICIALS REPRESENTING DUKE EMPLOYEES. THE EQUAL EMPLOYMENT OPPORTUNITY STATEMENT IS PUBLISHED IN HUMAN RESOURCE POLICY MANUALS, THE FACULTY HANDBOOK, THE STAFF HANDBOOK, AND IS POSTED ON BULLETIN BOARDS THROUGHOUT DUKE. THE POLICY IS DISCUSSED IN MANAGEMENT TRAINING PROGRAMS AND IS DESCRIBED IN VARIOUS LITERATURE DISTRIBUTED BY DUKE. NONDISCRIMINATION CLAUSES ARE INCLUDED IN ALL UNION AGREEMENTS AND ALL SUCH CONTRACTUAL PROVISIONS ARE REVIEWED TO ENSURE THAT THEY ARE NONDISCRIMINATORY [41 CFR 60-300.44(F) AND (G) & 41 CFR 60-741.44(F) AND (G)]. PURSUANT TO REGULATIONS, ALL DUKE PURCHASE ORDERS, LEASES, AND CONTRACTS INCORPORATE THE FOLLOWING EQUAL OPPORTUNITY CLAUSE SETTING FORTH DUKE'S EXPECTATIONS: THE CONTRACTOR AND SUBCONTRACTOR SHALL ABIDE BY THE REQUIREMENTS OF 1 CFR 60-1.4(A), 60-300.5(A) AND 60-741.5(A). THESE REGULATIONS PROHIBIT DISCRIMINATION AGAINST QUALIFIED INDIVIDUALS BASED ON THEIR STATUS AS PROTECTED VETERANS OR INDIVIDUALS WITH DISABILITIES, AND PROHIBIT DISCRIMINATION AGAINST ALL INDIVIDUALS BASED ON THEIR RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, GENDER IDENTITY OR NATIONAL ORIGIN. MOREOVER, THESE REGULATIONS REQUIRE THAT COVERED PRIME CONTRACTORS AND SUBCONTRACTORS TAKE AFFIRMATIVE ACTION TO EMPLOY AND ADVANCE IN EMPLOYMENT INDIVIDUALS WITHOUT REGARD TO RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, GENDER IDENTITY, GENDER EXPRESSION, NATIONAL ORIGIN, DISABILITY OR VETERAN STATUS. PUBLICATIONS AND OTHER DUKE MATERIALS REPRESENT ALL INDIVIDUALS, REGARDLESS OF DEMOGRAPHIC PROFILE AND INCLUDE SPECIAL CONSIDERATION OF PERSONS THAT CLAIM DISABILITY OR VETERAN STATUS. RECRUITING ADVERTISEMENTS STATE THAT DUKE IS AN EQUAL OPPORTUNITY/AFFIRMATIVE ACTION EMPLOYER. AN EXPANDED STATEMENT TO CONVEY DUKE'S COMMITMENT TO DIVERSITY AND INCLUSION IS INCLUDED IN DOCUMENTS AND POSITION DESCRIPTIONS: DUKE IS AN AFFIRMATIVE ACTION/EQUAL OPPORTUNITY EMPLOYER COMMITTED TO PROVIDING EMPLOYMENT OPPORTUNITY WITHOUT REGARD TO AN INDIVIDUAL'S AGE, COLOR, DISABILITY, GENDER, GENDER EXPRESSION, GENDER IDENTITY, GENETIC INFORMATION, NATIONAL ORIGIN, RACE, RELIGION, SEX, SEXUAL ORIENTATION, OR VETERAN STATUS.
FORM 990, SCHEDULE E, LINE 6 EXPLANATION OF GOVERNMENT FINANCIAL AID IN FUTHERANCE OF ITS EDUCATIONAL MISSIONS, DUKE UNIVERSITY RECEIVES FUNDS IN SUPPORT OF ITS UNDERGRADUATE AND GRADUATE STUDENTS. THESE FUNDS INCLUDE FINANCIAL AID PROGRAMS SUCH AS FEDERAL COLLEGE WORK STUDY, FEDERAL PERKINS FUNDS, FEDERAL STAFFORD LOAN FUNDS, FEDERAL PELL GRANT FUNDS, FEDERAL SEOG FUNDS, MEDICAL PROFESSION LOANS, FEDERAL NURSING LOANS, AND FEDERAL PLUS, ETC. ADDITIONAL STUDENT FINANCIAL AID IS RECEIVED IN THE FORM OF FELLOWSHIP SUPPORT FROM A VARIETY OF FEDERAL AGENCIES, INCLUDING NIH UNDER ITS INDIVIDUAL AND GRADUATE FELLOWSHIP PROGRAMS. IN ADDITION, DUKE UNIVERSITY RECEIVES COOPERATIVE AGREEMENTS FOR BOTH RESEARCH AND EDUCATIONAL PROGRAMS. ALTHOUGH THIS SUPPORT COMES FROM A WIDE VARIETY OF FEDERAL AGENCIES, THE NATIONAL INSTITUTE OF HEALTH, THE NATIONAL SCIENCE FOUNDATION, THE DEPARTMENT OF DEFENSE, AND THE DEPARTMENT OF ENERGY PROVIDE THE MAJORITY OF GRANTS AND COOPERATIVE AGREEMENTS.
Schedule E (Form 990) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  
SCHEDULE F(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Statement of Activities Outside the United States
Right arrow Complete if the organization answered "Yes" to Form 990, Part IV, line 14b, 15, or 16.Right arrow Attach to Form 990.Right arrow Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
DUKE UNIVERSITY
 
Employer identification number

56-0532129
Part I
General Information on Activities Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 14b.
1
For grantmakers. Does the organization maintain records to substantiate the amount of its grants and
other assistance, the grantees’ eligibility for the grants or assistance, and the selection criteria used
to award the grants or assistance? . . . . . . . . . . . . . . . . . . . . . . . . .
2
For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of its grants and other assistance outside the United States.
3
Activites per Region. (The following Part I, line 3 table can be duplicated if additional space is needed.)
(a) Region (b) Number of offices in the region (c) Number of employees, agents, and independent contractors in the region (d) Activities conducted in region (by type) (such as, fundraising, program services, investments, grants to recipients located in the region) (e) If activity listed in (d) is a program service, describe specific type of
service(s) in the region		 (f) Total expenditures
for and investments
in the region
ANTARCTICA 0 0 PROGRAM SERVICES EDUCATION 10,000
CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES ATHLETICS 42,000
CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES EDUCATION 107,000
CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES RESEARCH 128,000
CENTRAL AMERICA AND THE CARIBBEAN 0 7 PROGRAM SERVICES STUDY ABROAD 70,000
CENTRAL AMERICA AND THE CARIBBEAN 0 0 SEMINAR   174,000
EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES ATHLETICS 4,000
EAST ASIA AND THE PACIFIC 0 0 FUNDRAISING   150,000
EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING   11,940,000
EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES EDUCATION 1,415,000
EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES RESEARCH 2,869,000
EAST ASIA AND THE PACIFIC 0 3 PROGRAM SERVICES STUDY ABROAD 201,000
EAST ASIA AND THE PACIFIC 0 0 SEMINAR   2,525,000
EUROPE 0 0 PROGRAM SERVICES ATHLETICS 11,000
EUROPE 0 0 FUNDRAISING   40,000
EUROPE 0 0 GRANTMAKING   461,000
EUROPE 0 0 PROGRAM SERVICES EDUCATION 1,083,000
EUROPE 0 0 PROGRAM SERVICES RESEARCH 7,150,000
EUROPE 1 29 PROGRAM SERVICES STUDY ABROAD 1,197,000
EUROPE 0 0 SEMINAR   5,133,000
MIDDLE EAST AND NORTH AFRICA 0 0 FUNDRAISING   3,000
MIDDLE EAST AND NORTH AFRICA 0 0 GRANTMAKING   7,000
MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES EDUCATION 134,000
MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES RESEARCH 205,000
MIDDLE EAST AND NORTH AFRICA 0 2 PROGRAM SERVICES STUDY ABROAD 92,000
MIDDLE EAST AND NORTH AFRICA 0 0 SEMINAR   204,000
NORTH AMERICA 0 0 PROGRAM SERVICES ATHLETICS 1,000
NORTH AMERICA 0 0 FUNDRAISING   4,000
NORTH AMERICA 0 0 GRANTMAKING   22,000
NORTH AMERICA 0 0 PROGRAM SERVICES EDUCATION 76,000
NORTH AMERICA 0 0 PROGRAM SERVICES RESEARCH 5,165,000
NORTH AMERICA 0 0 SEMINAR   485,000
RUSSIA 0 0 PROGRAM SERVICES EDUCATION 44,000
RUSSIA 0 0 PROGRAM SERVICES RESEARCH 55,000
RUSSIA 0 0 SEMINAR   88,000
SOUTH AMERICA 0 0 PROGRAM SERVICES EDUCATION 235,000
SOUTH AMERICA 0 0 PROGRAM SERVICES RESEARCH 1,923,000
SOUTH AMERICA 0 7 PROGRAM SERVICES STUDY ABROAD 370,000
SOUTH AMERICA 0 0 SEMINAR   518,000
SOUTH ASIA 0 0 FUNDRAISING   17,000
SOUTH ASIA 0 0 PROGRAM SERVICES EDUCATION 352,000
SOUTH ASIA 0 0 PROGRAM SERVICES RESEARCH 541,000
SOUTH ASIA 0 0 PROGRAM SERVICES STUDY ABROAD 80,000
SOUTH ASIA 0 0 SEMINAR   305,000
SUB-SAHARAN AFRICA 0 0 GRANTMAKING   3,000
SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES EDUCATION 342,000
SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES RESEARCH 4,196,000
SUB-SAHARAN AFRICA 0 11 PROGRAM SERVICES STUDY ABROAD 242,000
SUB-SAHARAN AFRICA 0 0 SEMINAR   682,000
3a Sub-total .... 0 7 685,000
b Total from continuation sheets to Part I ... 1 52 50,416,000
c Totals (add lines 3a and 3b) 1 59 51,101,000
For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) (Rev. 1-2025)
Schedule F (Form 990) (Rev. 1-2025)
Page 2
Part II
Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 15, for any recipient who received more than $5,000. Part II can be duplicated if additional space is needed.
1 (a) Name of organization (b) IRS code section
and EIN (if applicable)		 (c) Region (d) Purpose of
grant 		(e) Amount of
cash grant 		(f) Manner of
cash
disbursement 		(g) Amount
of noncash
assistance 		(h) Description
of noncash
assistance 		(i) Method of
valuation
(book, FMV,
appraisal, other)
EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, GENERAL SUPPORT 11,939,710 WIRE 0    
EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM GENERAL SUPPORT 405,182 WIRE 0    
NORTH AMERICA GENERAL SUPPORT 8,300 WIRE 0    
             
             
             
             
             
             
             
             
             
             
             
             
             
2 Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter .......MediumBullet
0
3 Enter total number of other organizations or entities .......................MediumBullet
4
Schedule F (Form 990) (Rev. 1-2025)
Schedule F (Form 990) (Rev. 1-2025)Page 3
Part III
Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 16.
Part III can be duplicated if additional space is needed.
(a) Type of grant or assistance (b) Region (c) Number of recipients (d) Amount of
cash grant 		(e) Manner of cash
disbursement 		(f) Amount of
noncash
assistance 		(g) Description
of noncash
assistance 		(h) Method of
valuation
(book, FMV,
appraisal, other)
ARTISTIC RESEARCH INITIATIVE FELLOW EUROPE (INCLUDING ICELAND & GREENLAND) 1 3,185 WIRE      
FRITZ LONDON PRIZE EUROPE (INCLUDING ICELAND & GREENLAND) 1 15,232 WIRE      
GAP YEAR STIPEND EUROPE (INCLUDING ICELAND & GREENLAND) 1 15,000 WIRE      
FLAS FELLOWSHIP TUITION MIDDLE EAST AND NORTH AFRICA 1 4,800 WIRE      
ARTISTIC RESEARCH INITIATIVE FELLOW NORTH AMERICA 1 3,000 WIRE      
RESEARCH AWARD SUB-SAHARAN AFRICA 1 3,000 WIRE      
CLIMATECAP FELLOWSHIP EUROPE (INCLUDING ICELAND & GREENLAND) 1 3,000 WIRE      
COLLECTION AWARD EUROPE (INCLUDING ICELAND & GREENLAND) 1 2,666 WIRE      
ENV ARTICLE PRIZE EUROPE (INCLUDING ICELAND & GREENLAND) 1 1,529 WIRE      
FILM PRIZE EUROPE (INCLUDING ICELAND & GREENLAND) 3 15,000 WIRE      
COLLECTION AWARD MIDDLE EAST AND NORTH AFRICA 1 2,666 WIRE      
COLLECTION AWARD NORTH AMERICA 1 5,331 WIRE      
ENGERGY CASE COMPETITION PRIZE NORTH AMERICA 3 600 WIRE      
JURIED AWARD NORTH AMERICA 1 5,000 WIRE      
               
               
               
               
Schedule F (Form 990) (Rev. 1-2025)
Schedule F (Form 990) (Rev. 1-2025)
Page 4
Part IV
Foreign Forms
1 Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation (see Instructions for Form 926). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2 Did the organization have an interest in a foreign trust during the tax year? If "Yes," the organization may be required to separately file Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, and/or Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner (see Instructions for Forms 3520 and 3520-A; don't file with Form 990). . . . . . . . . . . . . . . . . . . . . . . .
3 Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 5471, Information Return of U.S. Persons with Respect to Certain Foreign Corporations. (see Instructions for Form 5471). . . . . . . . . . . . . . . . . . . . . . . . . . . .
4 Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If “Yes,” the organization may be required to file Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. (see Instructions for Form 8621) .
5 Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be required to file Form 8865, Return of U.S. Persons with Respect to Certain Foreign Partnerships (see Instructions for Form 8865). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6 Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be required to separately file Form 5713, International Boycott Report (see Instructions for Form 5713; don't file with Form 990).. . . . . . . . . . . . . . . . . . . . . . . . . . . .
Schedule F (Form 990) (Rev. 1-2025)
Schedule F (Form 990) (Rev. 1-2025)
Page 5
Part V
Supplemental Information
Provide the information required by Part I, line 2 (monitoring of funds); Part I, line 3, column (f) (accounting method; amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part III (accounting method); and Part III, column (c) (estimated number of recipients), as applicable. Also complete this part to provide any additional information. See instructions.
ReturnReference Explanation
SCHEDULE F, PART I, LINE 2: PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS OUTSIDE THE UNITED STATES DUKE UNIVERSITY PERIODICALLY APPROVES GRANTS AND TRANSFERS GRANT FUNDS TO SEVERAL ORGANIZATIONS OUTSIDE THE UNITED STATES. IN PARTICULAR FOR SUBGRANT RECIPIENTS, A SERIES OF INTERNAL CONTROLS HAVE BEEN ESTABLISHED WHICH INCLUDE DETERMINATION OF WHETHER AN AUDIT WILL BE REQUIRED. DUKE UNIVERSITY HAS ESTABLISHED A DETAILED AND COMPETITIVE APPLICATION PROCESS WHICH ENSURES PROPER PURPOSE AND USE OF THESE GRANT FUNDS PRIOR TO ENGAGEMENT. FOLLOWING THE PROCUREMENT PROCESS, DUKE UNIVERSITY MONITORS SUBSEQUENT BILLING AND PERFORMANCE OF THE GRANT RECIPIENTS. INVOICES MUST BE SUBMITTED ACCORDING TO THE TERMS AND CONDITIONS WHICH MIRROR THE TERMS AND CONDITIONS OF THE ULTIMATE GRANTOR. PRIOR TO PAYMENT, CENTRALIZED DEPARTMENTS REVIEW DOCUMENTATION TO ENSURE THE EXPENSES ARE ALLOWABLE WITHIN THE TERMS OF THE GRANT. ULTIMATELY, THE ORGANIZATIONS AWARDED THESE GRANT FUNDS MUST MONITOR THE APPROPRIATE DISTRIBUTION OF THESE GRANT FUNDS IN THE ORDINARY COURSE OF BUSINESS AND REPORT SUCH INFORMATION TO DUKE UNIVERSITY.
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
Schedule F (Form 990) (Rev. 1-2025)
Additional Data


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SCHEDULE G (Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Supplemental Information Regarding
Fundraising or Gaming Activities
Complete if the organization answered "Yes" on Form 990, Part IV, lines 17, 18, or 19, or if the organization entered more than $15,000 on Form 990-EZ, line 6a. right arrowAttach to Form 990 or Form 990-EZ.
right arrowGo to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
DUKE UNIVERSITY
 
Employer identification number

56-0532129
Part I
Fundraising Activities.Complete if the organization answered "Yes" on Form 990, Part IV, line 17.
Form 990-EZ filers are not required to complete this part.
1
Indicate whether the organization raised funds through any of the following activities. Check all that apply.
a e
b f
c g
d
2a
Did the organization have a written or oral agreement with any individual (including officers, directors, trustees
or key employees listed in Form 990, Part VII) or entity in connection with professional fundraising services?
b
If "Yes," list the 10 highest paid individuals or entities (fundraisers) pursuant to agreements under which the fundraiser is
to be compensated at least $5,000 by the organization.


(i) Name and address of individual
or entity (fundraiser) 		(ii) Activity (iii) Did fundraiser have custody or control of contributions? (iv) Gross receipts
from activity 		(v) Amount paid to
(or retained by)
fundraiser listed in
col. (i) 		(vi) Amount paid to
(or retained by)
organization
Yes No
 
ONE SIXTY OVER NINETY LLC
SEE PART IV FOR ADDRESS
 
LOS ANGELES, CA90006 		FUNDRAISING CONSULTING, STRATEGIC PLANNING, COMMU.   No 0 0 500,001
 
HURON CONSULTING
SEE PART IV FOR ADDRESS
 
CHICAGO, IL60689 		FUNDRAISING CONSULTING, STRATEGIC PLANNING, COMMU.   No 0 0 126,665
 
STAGWELL GLOBAL LLC
SEE PART IV FOR ADDRESS
 
CHICAGO, IL60695 		FUNDRAISING RELATED MARKETING & ADVERTISING   No 0 0 537,845
 
SULLIVAN & CO MARKETING COLLATERAL
SEE PART IV FOR ADDRESS
 
NEW YORK, NY10017 		FUNDRAISING RELATED MARKETING & ADVERTISING   No 0 0 515,397
 
COPPER REEF ENTERPRISES
SEE PART IV FOR ADDRESS
 
CARLSBAD, CA92009 		FUNDRAISING CONSULTING, STRATEGIC PLANNING, COMMU.   No 0 0 137,519
 
STANFORD UNIVERSITY
SEE PART IV FOR ADDRESS
 
STANFORD, CA94305 		FUNDRAISING CONSULTING, STRATEGIC PLANNING, COMMU.   No 0 0 72,000
 
BNY MELLON NA
SEE PART IV FOR ADDRESS
 
NEW YORK, NY10286 		FUNDRAISING CONSULTING, STRATEGIC PLANNING, COMMU.   No 0 0 80,000
 
ATE MEDIA LLC
SEE PART IV FOR ADDRESS
 
CHICAGO, IL60611 		FUNDRAISING CONSULTING, STRATEGIC PLANNING, COMMU.   No 0 0 42,414
 
PHILANTHROPY INNOVATORS LLC
SEE PART IV FOR ADDRESS
 
LONGMONT, CO80501 		FUNDRAISING CONSULTING, STRATEGIC PLANNING, COMMU.   No 0 0 87,000
 
WASHBURN & MCGOLDRICK INC
SEE PART IV FOR ADDRESS
 
DURHAM, NC27707 		FUNDRAISING RELATED GRAPHIC DESIGN & PHOTOGRAPHY   No 0 0 193,553
Total . . . . . . . . . . . . . . . . . . . . right arrow     2,292,394
3
List all states in which the organization is registered or licensed to solicit contributions or has been notified it is exempt from registration or licensing.
AL, AK, AR, CA, CO, CT, DC, FL, GA, HI, IL, KS, KY, ME, MD, MA, MI, MN, MS, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, TN, UT, VA, WA, WV, WI
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 50083H
Schedule G (Form 990) (Rev. 1-2025)
Schedule G (Form 990) (Rev. 1-2025)
Page 2
Part II
Fundraising Events. Complete if the organization answered "Yes" on Form 990, Part IV, line 18, or reported more than $15,000 of fundraising event contributions and gross income on Form 990-EZ, lines 1 and 6b. List events with gross receipts greater than $5,000.




VerticalRevenue
(a) Event #1

CMN
(event type) 		(b) Event #2

RADIOTHON
(event type) 		(c) Other events

4
(total number) 		(d) Total events
(add col. (a) through col. (c))

1
Gross receipts . . . . .
2,343,018
655,318
498,882
3,497,218

2
Less: Contributions . . . .
2,295,035
639,112
396,952
3,331,099
3 Gross income (line 1 minus
line 2) . . . . . .
47,983
16,206
101,930
166,119



VerticalDirectExpenses
4 Cash prizes . . . . .        
5 Noncash prizes . . . .     27,912 27,912
6 Rent/facility costs . . . . 750 3,370 8,250 12,370
7 Food and beverages . . .     31,746 31,746
8 Entertainment . . . .        
9 Other direct expenses . . . 482,936 114,682 52,934 650,552
10 Direct expense summary. Add lines 4 through 9 in column (d) . . . . . . . . . . right arrow 722,580
11 Net income summary. Subtract line 10 from line 3, column (d). . . . . . . . . . right arrow -556,461
Part III
Gaming. Complete if the organization answered "Yes" on Form 990, Part IV, line 19, or reported more than $15,000 on Form 990-EZ, line 6a.
VerticalRevenue
(a) Bingo (b) Pull tabs/Instant
bingo/progressive bingo 		(c) Other gaming (d) Total gaming (add col.(a) through col.(c))

1
Gross revenue . . . . .
 
 
 
 
VerticalDirectExpenses

2
Cash prizes . . . . .
 
 
 
 

3
Noncash prizes . . . .
 
 
 
 

4
Rent/facility costs . . . .
 
 
 
 

5
Other direct expenses . . .
 
 
 
 


6

Volunteer labor . . . .
%
%
%


7
Direct expense summary. Add lines 2 through 5 in column (d) . . . . . . . . . . right arrow
 

8
Net gaming income summary. Subtract line 7 from line 1, column (d). . . . . . . . . right arrow
 

9
Enter the state(s) in which the organization conducts gaming activities:
a
Is the organization licensed to conduct gaming activities in each of these states? . . . . . . . .
YesNo
b
If "No," explain:
 
10a
Were any of the organization's gaming licenses revoked, suspended or terminated during the tax year? . . .
YesNo
b
If "Yes," explain:
 
Schedule G (Form 990) (Rev. 1-2025)
Schedule G (Form 990) (Rev. 1-2025)
Page 3
11
Does the organization conduct gaming activities with nonmembers? . . . . . . . . . . .
YesNo
12
Is the organization a grantor, beneficiary or trustee of a trust or a member of a partnership or other entity
formed to administer charitable gaming? . . . . . . . . . . . . . . . . .
YesNo
13
Indicate the percentage of gaming activity conducted in:
a
The organization's facility . . . . . . . . . . . . . . . . . .
13a
%
b
An outside facility . . . . . . . . . . . . . . . . . . . .
13b
%
14
Enter the name and address of the person who prepares the organization's gaming/special events books and records:
Name right arrow
Address right arrow
15a
Does the organization have a contract with a third party from whom the organization receives gaming
revenue? . . . . . . . . . . . . . . . . . . . . . . . .
b
If "Yes," enter the amount of gaming revenue received by the organization right arrow $   and the
amount of gaming revenue retained by the third party right arrow $   .
c
If "Yes," enter name and address of the third party:
Name right arrow
Address right arrow
16
Gaming manager information:
Name right arrow
Gaming manager compensation right arrow $  
Description of services provided right arrow
 
17
Mandatory distributions:
a
Is the organization required under state law to make charitable distributions from the gaming proceeds to
retain the state gaming license? . . . . . . . . . . . . . . . . . . .
b
Enter the amount of distributions required under state law distributed to other exempt organizations or spent
in the organization's own exempt activities during the tax year right arrow$  
Part IV
Supplemental Information. Provide the explanations required by Part I, line 2b, columns (iii) and (v); and Part III, lines 9, 9b, 10b, 15b, 15c, 16, and 17b, as applicable. Also provide any additional information. See instructions.
Return Reference Explanation
SCHEDULE G, PART I, LINE 2B, LIST OF TEN HIGHEST PAID FUNDRAISERS: (I) NAME OF FUNDRAISER: ONE SIXTY OVER NINETY LLC (I) ADDRESS OF FUNDRAISER: 1801 W OLYMPIC BLVD, LOS ANGELES CA 90006 (I) NAME OF FUNDRAISER: HURON CONSULTING GROUP INC (I) ADDRESS OF FUNDRAISER: 3005 MOMENTUM PLACE, CHICAGO IL 60689 (I) NAME OF FUNDRAISER: STAGWELL GLOBAL LLC (I) ADDRESS OF FUNDRAISER: 88178 EXPEDITE WAY, CHICAGO IL 60695 (I) NAME OF FUNDRAISER: SULLIVAN & CO MARKETING COLLATERAL (I) ADDRESS OF FUNDRAISER: 292 MADISON AVE, NEW YORK NY 10017 (I) NAME OF FUNDRAISER: COPPER REEF ENTERPRISES (I) ADDRESS OF FUNDRAISER: 6965 EL CAMINO REAL STE 105-488, CARLSBAD, CA 92009 (I) NAME OF FUNDRAISER: STANFORD UNIVERSITY (I) ADDRESS OF FUNDRAISER: 691 PAMPAS LANE, STANFORD, CA 94305 (I) NAME OF FUNDRAISER: BNY MELLON NA (I) ADDRESS OF FUNDRAISER: 1 WALL ST, NEW YORK, NY 10286 (I) NAME OF FUNDRAISER: ATE MEDIA LLC (I) ADDRESS OF FUNDRAISER: 4030 WAKE FOREST RD, RALEIGH, NC 27609 (I) NAME OF FUNDRAISER: PHILANTHROPY INNOVATORS INC (I) ADDRESS OF FUNDRAISER: 5 HANOVER SQUARE, NEW YORK, NY 10004 (I) NAME OF FUNDRAISER: WASHBURN & MCGOLDRICK INC (I) ADDRESS OF FUNDRAISER: 24 NORTH BRYN MAWR AVE, BRYN MAWR PA 19010
SCHEDULE G, LINE 2(B), COLUMN (V) DUKE UNIVERSITY ENTERS INTO AGREEMENTS WITH ENTITIES OR INDIVIDUALS LISTED ON SCHEDULE G, PART I, LINE 2(B), COLUMNS (I-V). THE AGREEMENTS PROVIDE THAT THE PAYMENT FOR REIMBURSEMENT OF SUCH EXPENSES WILL BE ISSUED IN ADDITION TO THE FEE FOR SERVICES RENDERED. THERE ARE NO AGREEMENTS THAT PROVIDE EXCLUSIVELY FOR EXPENSES, BUT NOT FOR PROFESSIONAL FUNDRAISING SERVICES.
Schedule G (Form 990) (Rev. 1-2025)
Additional Data


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Schedule I
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Grants and Other Assistance to Organizations,
Governments and Individuals in the United States
Complete if the organization answered "Yes," on Form 990, Part IV, line 21 or 22.
lBullet Attach to Form 990.
lBullet Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public
Inspection
Name of the organization
DUKE UNIVERSITY
 
Employer identification number
56-0532129
Part I
General Information on Grants and Assistance
1
Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ........................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" on Form 990, Part IV, line 21, for any recipient
that received more than $5,000. Part II can be duplicated if additional space is needed.
(a) Name and address of organization
or government		 (b) EIN (c) IRC section
(if applicable)		 (d) Amount of cash grant (e) Amount of non-cash
assistance		 (f) Method of valuation
(book, FMV, appraisal,
other)		 (g) Description of
noncash assistance		 (h) Purpose of grant
or assistance
(1) ALLEVIATE HEALTH INC
794 ALMONDWOOD WAY
SAN JOSE,CA951202227 		92-3618468   20,000 0     INTERPLAY FELLOWS AWARDS
(2) AMERICAN HEART ASSOCIATION INC
7272 GREENVILLE AVENUE
DALLAS,TX25231 		13-5613797 501(C)(3) 75,000 0     GENERAL SUPPORT
(3) AMERICAN HISTORICAL ASSN
PO BOX 347214
PITTSBURGH,PA152514214 		53-0217487 501(C)(3) 13,000 0     GENERAL SUPPORT
(4) AMERICAN MATHEMATICAL SOCIETY
PO BOX 6248
PROVIDENCE,RI029042213 		05-0264797 501(C)(3) 10,405 0     GENERAL SUPPORT
(5) AMY E KELLY EDUCATION FOUNDATION
1815 CHANDELLAY DRIVE
DURHAM,NC27705 		46-4263928 501(C)(3) 15,423 0     GENERAL SUPPORT
(6) BARBERSHIP THERAPY FOUNDATION
5720 CAPITAL BLVD STE
RALEIGH,NC27676 		92-1669087 501(C)(3) 14,000 0     COMMUNITY SUPPORT
(7) BIKE DURHAM
112 BROADWAY ST B
DURHAM,NC27701 		46-5356944 501(C)(3) 7,500 0     COMMUNITY SUPPORT
(8) BLUESTONE MISSIONARY BAPTIST CHURCH
9892 NC HIGHWAY 700
PELHAM,NC27311 		30-0422311 501(C)(3) 7,000 0     COMMUNITY SUPPORT
(9) BRIGHAM AND WOMENS HOSPITAL INC
263 HUNTINGTON AVE 318 ATTN KIRAN
BOSTON,MA02115 		04-2312909 501(C)(3) 280,000 0     RESEARCH GIFT
(10) BUILT2LAST INNOVATIONS LAB INC
201 WEST MAIN STREET
DURHAM,NC27701 		87-1504608 501(C)(3) 50,000 0     SPONSORSHIP
(11) BULL CITY WOODSHOP
1912 E PETTIGREW ST
DURHAM,NC27703 		87-1290326 501(C)(3) 14,000 0     COMMUNITY SUPPORT
(12) CAMPUS CRUSADE FOR CHRIST INC
100 LAKE HART DR
ORLANDO,FL32832 		95-6006173 501(C)(3) 6,800 0     SCHOLARSHIP
(13) CARING HOUSE INC
2625 PICKETT RD
DURHAM,NC277055603 		56-1647154 501(C)(3) 103,000 0     GENERAL SUPPORT
(14) CENTER FOR CHRISTIANITY & SCHOLARSH
608 N BUCHANAN BLVD
DURHAM,NC27701 		46-0936944 501(C)(3) 54,676 0     GENERAL SUPPORT
(15) CENTRA HEALTH INC
2025 TATE SPRINGS ROAD
LYNCHBURG,VA24501 		54-0715569 501(C)(3) 20,000 0     FELLOWSHIP AWARD
(16) CENTRAL REGIONAL HOSPITAL
300 VEAZEY ROAD AIKEN ANNEX
BUILDING
BUTNER,NC27509 		56-1355838   0 51,968 FMV TRAINING WORKBOOKS GENERAL SUPPORT
(17) CHANGING A GENERATION WITH A FACE
PO BOX 11587
DURHAM,NC27703 		56-2158704 501(C)(3) 0 13,015 FMV OFFICE FURNITURE/ SUPPLIES GENERAL SUPPORT
(18) CHARLES HAMILTON HOUSTON FOUNDATION
PO BOX 25138
DURHAM,NC27702 		47-4992302 501(C)(3) 7,500 0     COMMUNITY SUPPORT
(19) CHRISTIAN LIFE CENTER
6363 183RD ST
TINLEY PARK,IL60477 		36-3340037 501(C)(3) 10,000 0     2024 TADITIONED INNOVATION AWARD
(20) CHURCH WORLD SERVICES INC
504 W CHAPEL HILL ST STE 106
DURHAM,NC27701 		13-4080201 501(C)(3) 5,000 435 FMV OFFICE FURNITURE/ SUPPLIES COMMUNITY SUPPORT
(21) COKESBURY UNITED METHODIST CHURCH
4990 DORCHESTER RD
NORTH CHARLESTON,SC29418 		57-0519374 501(C)(3) 10,975 0     COMMUNITY SUPPORT
(22) COUNCIL FOR THE ADVANCEMENT OF SCIE
PO BOX 17337
SEATTLE,WA98127 		13-1953314 501(C)(3) 10,000 0     SPONSORSHIP
(23) DANA-FARBER CANCER INSTITURE INC
450 BROOKLINE AVE DA1642
BOSTON,MA02115 		04-2263040 501(C)(3) 344,591 0     RESEARCH GIFT
(24) DIAPER BANK OF NC
437 DIMMOCKS MILL RD STE 1
HILLSBOROUGH,NC27278 		32-0401621 501(C)(3) 9,496 0     COMMUNITY SUPPORT
(25) DIETZ FARRELL INC
27821 SILVER SPUR STREET
STEAMBOAT SPRINGS,CO80487 		45-0528222   8,333 0     SPONSORSHIP
(26) DURHAM ART GUILD INC
120 MORRIS ST
DURHAM,NC27701 		56-0798002 501(C)(3) 5,000 860 FMV OFFICE FURNITURE/ SUPPLIES COMMUNITY SUPPORT
(27) DURHAM ARTS COUNCIL INC
120 MORRIS ST
DURHAM,NC277013242 		56-0599829 501(C)(3) 10,000 0     SPONSORSHIP
(28) DURHAM CHILDRENS INITIATIVE
2101 ANGIER AVE 200
DURHAM,NC27703 		32-0263133 501(C)(3) 14,000 0     COMMUNITY SUPPORT
(29) DURHAM COUNTY DEPT OF PUBLIC HEALTH
414 E MAIN ST
DURHAM,NC27701 		56-6000297   7,000 0     COMMUNITY SUPPORT
(30) DURHAM LITERACY CENTER
1905 CHAPEL HILL RD
DURHAM,NC27707 		56-1479534   8,500 0     SPONSORSHIP
(31) DURHAM PUBLIC SCHOOLS
PO BOX 30002
DURHAM,NC27702 		56-6001021   2,500 16,335 FMV OFFICE FURNITURE/ SUPPLIES SPONSORSHIP
(32) DURHAM SYMPHONY INC
PO BOX 1993
DURHAM,NC27702 		56-1162641 501(C)(3) 12,000 0     GENERAL SUPPORT
(33) DURHAM TECHNICAL COMMUNITY COLLEGE
1637 E LAWSON ST
DURHAM,NC27703 		56-0792513   283,004 1,500 FMV OFFICE FURNITURE GENERAL SUPPORT
(34) DURHAMCARES INC
PO BOX 331
DURHAM,NC27702 		26-2689130 501(C)(3) 12,500 0     GENERAL SUPPORT
(35) EARLY YEARS INC
1829 E FRANKLIN ST BLDG 1000
CHAPEL HILL,NC27514 		56-1514058 501(C)(3) 10,000 0     COMMUNITY SUPPORT
(36) ECHO
112 BROADWAY ST STE B
DURHAM,NC27701 		47-4482327 501(C)(3) 10,500 0     COMMUNITY SUPPORT
(37) EL REFUGIO INC
407 W MAIN ST
SANFORD,NC27332 		88-1917897   7,000 0     COMMUNITY SUPPORT
(38) EMILY KRZYZEWSKI FAMILY LIFE CENTER
904 W CHAPEL HILL ST
DURHAM,NC27701 		56-2230469 501(C)(3) 212,000 0     GENERAL SUPPORT
(39) ENGINEERS IN ACTION INC
6910 E 14TH ST
TULSA,OK74112 		26-1746131 501(C)(3) 9,250 0     GENERAL SUPPORT
(40) FAMILIES MOVING FORWARD
PO BOX 25426
DURHAM,NC27702 		56-1633998 501(C)(3) 16,750 0     COMMUNITY SUPPORT
(41) FRIENDS OF LAKEWOOD ELEMENTARY PTA
1505 BLOUNT ST
DURHAM,NC27707 		47-4144611 501(C)(3) 9,500 0     COMMUNITY SUPPORT
(42) FUQUAY VARINA UNITED METHODIST CHUR
100 S JUDD PKWY SE
FUQUAY VARINA,NC27526 		56-1391254 501(C)(3) 10,000 0     COMMUNITY SUPPORT
(43) GRADUATE CHEMISTRY COUNCIL
124 SCIENCE DR BOX 90354
DURHAM,NC27708 		46-5754212 501(C)(3) 12,500 0     GENERAL SUPPORT
(44) GREATER DURHAM CHAMBER OF COMMERCE
PO BOX 3829
DURHAM,NC27702 		56-0207530 501(C)(6) 10,748 0     GENERAL SUPPORT
(45) GREATER RALEIGH CHAMBER OF COMMERCE
800 S SALISBURY ST
RALEIGH,NC27601 		56-0370850 501(C)(6) 5,750 0     GENERAL SUPPORT
(46) HABITAT FOR HUMANITY OF DURHAM
1823 CHAPEL HILL RD
DURHAM,NC27707 		58-1674794 501(C)(3) 165,000 0     SPONSORSHIP
(47) HAVEN SOCIAL INC
5714 WOODLAWN DR
DURHAM,NC27703 		33-3910546   10,000 0     CASE LAUNCH PAD AWARD
(48) HAW RIVER UNITED METHODIST CHURCH
PO BOX 4
HAW RIVER,NC27258 		56-1290631 501(C)(3) 10,980 0     COMMUNITY SUPPORT
(49) HOPE RENOVATIONS
3 BOLIN HTS
CHAPEL HILL,NC27514 		82-3675207 501(C)(3) 4,491 560 FMV OFFICE FURNITURE COMMUNITY SUPPORT
(50) HOUSING FOR NEW HOPE INC
18 W COLONY PLACE SUITE 250
DURHAM,NC27705 		58-2089068 501(C)(3) 7,902 0     SPONSORSHIP
(51) IMPACT CHURCH OF THE LOWCOUNTRY INC
211 LYNX LANE
SUMMERVILLE,SC29483 		88-1742779   10,000 0     COMMUNITY SUPPORT
(52) INSTITUTE FOR FIELD RESEARCH
1855 INDUSTRIAL ST 06
LOS ANGELES,CA90021 		27-5556305 501(C)(3) 11,190 0     GENERAL SUPPORT
(53) INTERNATIONAL CANCER CARE & RESEARC
2408 VINTAGE HILL DR
DURHAM,NC27712 		47-3821684 501(C)(3) 20,200 0     GENERAL SUPPORT
(54) ISKALI
9430 W GOLF RD
DES PLAINES,IL60016 		82-1662711 501(C)(3) 10,000 0     2024 TRADITIONED INNOVATION AWARD
(55) KEEP DURHAM BEAUTIFUL
2011 FAY ST
DURHAM,NC27704 		02-0735076 501(C)(3) 24,313 0     GENERAL SUPPORT
(56) LEUKEMIA & LYMPHOMA SOCIETY
PO BOX 22443
NEW YORK,NY100872443 		13-5644916   30,000 0     SPONSORSHIP
(57) LOVES UNITED METHODIST CHURCH
3020 MAIN ST PO BOX 8
WALKERTOWN,NC27051 		20-1492750 501(C)(3) 10,439 0     COMMUNITY SUPPORT
(58) MAAME INC
1208 FAYETTEVILLE ST
DURHAM,NC27707 		83-3433970 501(C)(3) 25,000 0     COMMUNITY SUPPORT
(59) MAPLE SPRINGS UNITED METHODIST CHUR
2569 REYNOLDA RD
WINSTON SALEM,NC27106 		20-5665302 501(C)(3) 13,000 0     COMMUNITY SUPPORT
(60) MOLDOVA WORLD CHILDRENS FUND INC
PO BOX 548
HENDERSONVILLE,NC28793 		14-1942074 501(C)(3) 0 10,000 FMV MEDICAL SUPPLIES GENERAL SUPPORT
(61) MUSEUM OF DURHAM HISTORY
PO BOX 362
DURHAM,NC27702 		94-3455685 501(C)(3) 20,000 0     GENERAL SUPPORT
(62) NATIONAL HUMANITIES CENTER
7 T W ALEXANDER DR
RTP,NC27709 		59-1735367 501(C)(3) 100,000 0     GENERAL SUPPORT
(63) NAVIGATORS
PO BOX 6000
COLORADO SPRINGS,CO80934 		84-6007896 501(C)(3) 5,423 0     COMMUNITY SUPPORT
(64) NC ALBERT SCHWEITZER FELLOWSHIP INC
PO BOX 1636
DAVIDSON,NC28036 		82-2682491 501(C)(3) 22,000 0     GENERAL SUPPORT
(65) NC IDEA
411 W CHAPEL HILL ST SUITE C2
DURHAM,NC27701 		01-0702442 501(C)(3) 10,000 0     SPONSORSHIP
(66) NC STATE UNIVERSITY
CAMPUS BOX 7203
RALEIGH,NC276957203 		56-6000756 501(C)(3) 96,086 0     GENERAL SUPPORT
(67) NCCU FOUNDATION INC
PO BOX 52466
DURHAM,NC27717 		23-7410301 501(C)(3) 51,000 0     RESEARCH GIFT
(68) NET INTERNATIONAL CHURCH INC
2308 N MAIN STREET
SUMMERVILLE,SC29486 		57-1131404 501(C)(3) 12,000 0     COMMUNITY SUPPORT
(69) NORTH PALM COMMUNITY CHURCH
PO BOX 40655
NORTH CHARLESTON,SC29423 		27-2288179 501(C)(3) 13,200 0     COMMUNITY SUPPORT
(70) PACIFIC PEDIATRIC NEURO ONCOLOGY
1005 NORTHGATE DRIVE 224
SAN RAFAEL,CA94903 		46-3152273 501(C)(3) 328,453 0     RESEARCH GIFT
(71) PARTNERSHIP FOR A GREATER CHAPEL
PO BOX 723
CARRBORO,NC27510 		45-3251258 501(C)(3) 7,500 0     COMMUNITY SUPPORT
(72) PERSON COUNTY HEALTH DEPARTMENT
355 - A S MADISON BLVD
ROXBORO,NC27573 		56-6000331   0 6,000 FMV EXAM BEDS GENERAL SUPPORT
(73) PINNACLE COMMUNITY DEVELOPMENT CORP
2628 MELROSE AVE
DURHAM,NC27704 		20-4459428 501(C)(3) 7,000 0     COMMUNITY SUPPORT
(74) PLAINSON FARM & MINISTRY
6677 12 MILE RD NE
ROCKFORD,MI49341 		83-3277047 501(C)(3) 10,000 0     2024 TRADITIONED INNOVATION AWARD
(75) PRINCETON THEOLOGICAL SEMINARY
25 LIBRARY PLACE
PRINCETON,NJ08540 		21-0635010   15,000 0     SPONSORSHIP
(76) PROJECT ACCESS OF DURHAM COUNTY
4206 N ROXBORO ST STE 100
DURHAM,NC27704 		26-1925378 501(C)(3) 7,000 0     COMMUNITY SUPPORT
(77) REALITY MINISTRIES INC
916 LAMOND AVE
DURHAM,NC27701 		26-1514118 501(C)(3) 11,000 0     COMMUNITY SUPPORT
(78) REFORMED UNIVERSITY MINISTRIES
1700 NORTH BROWN RD STE 104
LAWRENCEVILLE,GA30043 		58-1713181 501(C)(3) 5,500 0     GENERAL SUPPORT
(79) RELIGIOUS COALITION FOR A NONVIOLENT DURHAM
PO BOX 1074
DURHAM,NC27707 		20-1356454 501(C)(3) 9,850 0     COMMUNITY SUPPORT
(80) RESEARCH FOR A STRONGER AMERICA
1200 NEW YORK AVE NW STE 500
WASHINGTON,DC200054157 		39-2301313 501 (C)(4) 105,000 0     RESEARCH GIFT
(81) RESEARCH TRIANGLE FOUNDATION OF NC
PO BOX 12255
DURHAM,NC27709 		56-0853674 501(C)(4) 100,000 0     DIRECT SERVICE INCENTIVE PROGRAM
(82) RISE AGAINST HUNGER INC
4801 GLENWOOD AVE STE 200
RALEIGH,NC27612 		16-1541024 501(C)(3) 15,137 0     GENERAL SUPPORT
(83) SE RALEIGH PROMISE INC
1425 PROMISE BEACON CIR SUITE
RALEIGH,NC27610 		82-0614057 501(C)(3) 7,000 0     COMMUNITY SUPPORT
(84) SOLAR FREEZE
6901 ST AMBROSE WAY
LANDOVER,MD20785 		83-3401618 501(C)(3) 150,000 0     2025 FM KIRBY IMPACT PRIZE
(85) SOUTH CAROLINA SPINAL CORD INJURY A
301 GREYSTONE BLVD SUITE 170
COLUMBIA,SC29210 		57-0951166 501(C)(3) 10,000 0     COMMUNITY SUPPORT
(86) ST AUGUSTA MISSIONARY BAPTIST
605 BRIDGE STREET
FUQUAYVARINA,NC27526 		56-1414036 501(C)(3) 11,000 0     COMMUNITY SUPPORT
(87) STANFORD UNIVERSITY
485 BROADWAY MC 8838
REDWOOD CITY,CA94063 		94-1156365 501(C)(3) 202,591 0     RESEARCH GIFT
(88) STRONGHER TOGETHER INC
PO BOX 52142
DURHAM,NC27707 		82-1595797 501(C)(3) 15,000 0     COMMUNITY SUPPORT
(89) TESTIMONIES OF HOPE INC
2216 N BLANCHARD ST
DAVENPORT,IA52804 		47-2446305 501(C)(3) 10,000 0     2024 TRADITIONED INNOVATION AWARD
(90) THE CHURCH AT SPRING FOREST
1907 NEW SHARON CHURCH RD
HILLSBOROUGH,NC27278 		85-0636738 501(C)(3) 7,000 0     COMMUNITY SUPPORT
(91) TROSA
1820 JAMES STREET
DURHAM,NC27707 		56-1861158 501(C)(3) 0 197,215 FMV OFFICE FURNITURE GENERAL SUPPORT
(92) UNITED METHODIST COMMITTEE
458 PONCE DE LEON AVE NE
ATLANTA,GA30308 		13-5562279 501(C)(3) 30,000 0     GENERAL SUPPORT
(93) UNITED WAY OF THE GREATER TRIANGLE
PO BOX 110583
DURHAM,NC277095583 		56-1949103 501(C)(3) 63,887 0     GENERAL SUPPORT
(94) UNIVERSITY OF NORTH CAROLINA
410 E FRANKLIN ST BOX 9127
CHAPEL HILL,NC27599 		56-6001393 501(C)(3) 126,116 0     GENERAL SUPPORT
(95) UPLIFT PROJECT INC
PO BOX 2091
DURHAM,NC27702 		56-2296032 501(C)(3) 10,000 0     SPONSORSHIP
(96) UPSTREAM WORKS
106 DRAYTON COURT
CHAPEL HILL,NC27516 		82-5298960 501(C)(3) 10,000 0     COMMUNITY SUPPORT
(97) URBAN MINISTRIES OF DURHAM
410 LIBERTY ST
DURHAM,NC27701 		58-1505891 501(C)(3) 25,200 0     COMMUNITY SUPPORT
(98) WALLTOWN CHILDRENS THEATRE
1225 BERKLEY ST
DURHAM,NC27705 		56-2214825 501(C)(3) 5,423 0     COMMUNITY SUPPORT
(99) WALLTOWN NEIGHBORHOOD MINISTRIES
917 ONSLOW ST
DURHAM,NC27705 		56-2157465 501(C)(3) 5,423 0     COMMUNITY SUPPORT
(100) WASHINGTON STATE UNIVERSITY FOUNDAT
PO BOX 641927
PULLMAN,WA991641927 		91-1075542 501(C)(3) 15,000 0     RESEARCH GIFT
(101) WE ARE ONE DURHAM
2000 CHAPEL HILL RD 38A
DURHAM,NC27707 		88-4387059 501(C)(3) 6,360 0     COMMUNITY SUPPORT
(102) WEST END COMMUNITY FOUNDATION
PO BOX 51398
DURHAM,NC277171398 		56-1858174 501(C)(3) 15,100 0     COMMUNITY SUPPORT
(103) WHITE PLAINS UNITED METHODIST CHURCH
313 SE MAYNARD RD
CARY,NC27511 		56-1031475 501(C)(3) 11,000 0     COMMUNITY SUPPORT
(104) WHOSOEVER WILL
PO BOX 1211
EDENTON,NC27932 		56-2253888 501(C)(3) 7,050 0     COMMUNITY SUPPORT
(105) WILKESBORO UNITED METHODIST CHURCH
PO BOX 197
WILKESBORO,NC28697 		56-1220690 501(C)(3) 15,000 0     COMMUNITY SUPPORT
(106) YOUTH SUPPORTING ROOTS
1715 ROSETTA DRIVE
DURHAM,NC27701 		92-0639310 501(C)(3) 8,554 0     COMMUNITY SUPPORT
(107) GOD 1ST PEOPLE 2ND
953 E MAIN STREET
DURHAM,NC27701 		20-1412180 501(C)(3) 0 122,180 FMV OFFICE FURNITURE/ SUPPLIES COMMUNITY SUPPORT
(108) ROXBORO COMMUNITY SCHOOL
115 LAKE DRIVE
ROXBORO,NC27573 		14-1920044 501(C)(3) 0 12,620 FMV OFFICE FURNITURE COMMUNITY SUPPORT
2
Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................. Bullet Image
95
3
Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image
13
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) Rev. 1-2025

Schedule I (Form 990) Rev. 1-2025
Page 2
Part III
Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" on Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.
(a) Type of grant or assistance (b) Number of
recipients		 (c) Amount of
cash grant		 (d) Amount of
noncash assistance		 (e) Method of valuation (book,
FMV, appraisal, other)		 (f) Description of noncash assistance
(1) ATHLETIC SCHOLARSHIP/STIPEND 626 37,812,717      
(2) 2025 JUAN E MENDEZ BOOK AWARD 1 1,000      
(3) AML FOERSTER PRIZE 2 2,000      
(4) CASE COMPETITION AWARD 2 500      
(5) CASSILHAUS FELLOW 2025 1 10,000      
(6) CHAVD POSTER AWARD 3 300      
(7) CLIMATECAP FELLOWSHIP 14 42,000      
(8) CONCERTO COMPETITION 3 300      
(9) DIRECTOR FOR SPONSORSHIP 2 10,300      
(10) DUKE PRELAW 2025 24 24,000      
(11) ELLIE'S FUND MEDICAL ASSISTANCE SUPPORT 2 3,382      
(12) ENERGY PRIZE PAYMENT 3 10,000      
(13) FRITZ LONDON MEMORIAL PRIZE 4 20,000      
(14) FRITZ PRIZE AWARD SUPPORT 1 2,000      
(15) FULL FRAME AWARD 1 5,000      
(16) HONORARIA 3 1,000      
(17) HPREP SCHOLARSHIP 2 2,000      
(18) JERRY B. AND CALLIE IRENE STONE AWARD 1 1,000      
(19) JOHN HOPE FRANKLIN 1 1,000      
(20) LEMKIN AWARD 1 10,000      
(21) MISC. AWARD 7 6,475      
(22) NC-MENDEZ BOOK AWARD 1 1,000      
(23) OLE R. HOLSTI AWARD 1 1,000      
(24) ORMOND 1K STIPEND AWARD 4 4,000      
(25) ORMOND CCC GRANT AWARD 1 10,000      
(26) SPONSORSHIP 1 5,000      
(27) SUMMER 1 1 2,763      
(28) TEACHHOUSE FELLOWSHIP 6 22,283      
(29) GRADUATE STUDENT SCHOLARSHIP/STIPEND 44234 141,665,354      
(30) POSTDOC SCHOLARSHIP/STIPEND 3 11,965      
(31) PRE-DOC SCHOLARSHIP/STIPEND 16982 103,571,865      
(32) UNDERGRAD SCHOLARSHIP/STIPEND 25581 185,814,815      
(33) BEST PAPER AWARD 1 1,500      
(34) BOLCH PRIZE AWARD 1 30,000      
(35) DUKE LAW SCHOOL FELLOWSHIP 1 10,000      
(36) ENERGY CASE COMPETITION PRIZE 1 200      
(37) GRINBERG LIBRARY FELLOWSHIP 1 612      
(38) LIBRARY FELLOWSHIP AWARD 2 3,447      
(39) POSTER AWARD 1 153      
(40) SUMMER RESEARCH FELLOWSHIP 1 2,200      
Part IV
Supplemental Information. Provide the information required in Part I, line 2; Part III, column (b); and any other additional information.
Return Reference Explanation
SCHEDULE I, PART I, LINE 2: ORGANIZATION'S PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS IN U.S. DUKE UNIVERSITY PERIODICALLY APPROVES GRANTS AND TRANSFERS GRANT FUNDS TO NUMEROUS ORGANIZATIONS WITHIN THE UNITED STATES. FOR SUBGRANT RECIPIENTS, A SERIES OF INTERNAL CONTROLS HAVE BEEN ESTABLISHED WHICH INCLUDE DETERMINATION OF WHETHER AN AUDIT WILL BE REQUIRED. DUKE UNIVERSITY HAS ESTABLISHED A DETAILED AND COMPETITIVE APPLICATION PROCESS WHICH ENSURES PROPER PURPOSE AND USE OF THESE GRANT FUNDS PRIOR TO ENGAGEMENT. FOLLOWING THE PROCUREMENT PROCESS, DUKE UNIVERSITY MONITORS SUBSEQUENT BILLING AND PERFORMANCE OF THE GRANT RECIPIENTS. INVOICES MUST BE SUBMITTED ACCORDING TO THE TERMS AND CONDITIONS WHICH MIRROR THE TERMS AND CONDITIONS OF THE ULTIMATE GRANTOR. PRIOR TO PAYMENT, CENTRALIZED DEPARTMENTS REVIEW DOCUMENTATION TO ENSURE THE EXPENSES ARE ALLOWABLE WITHIN THE TERMS OF THE GRANT. ULTIMATELY, THE ORGANIZATIONS AWARDED THESE GRANTS MUST MONITOR THE APPROPRIATE DISTRIBUTION OF THESE GRANT FUNDS IN THE ORDINARY COURSE OF BUSINESS AND REPORT SUCH INFORMATION TO DUKE UNIVERSITY. STUDENTS' INSTITUTIONAL SCHOLARSHIPS AND FINANCIAL AID IS POSTED DIRECTLY TO THEIR BURSAR ACCOUNTS. THEREFORE, SUCH FUNDS ARE DIRECTLY APPLIED TO APPROPRIATE CHARGES WITHIN THE STUDENTS' ACCOUNTS. GRANT/FELLOWSHIP PAYMENTS ARE PROCESSED ACCORDING TO AWARD LETTERS, WHICH ARE REVIEWED AND SUBMITTED TO THE RECIPIENT IN ADVANCE OF ACCEPTING FOR THE APPLICABLE SEMESTER. EACH PAYMENT IS PREPARED ACCORDING TO THE AWARD LETTER BY A DEPARTMENTAL REPRESENTATIVE, WHICH IS THEN REVIEWED AND APPROVED BY A DEPARTMENTAL SUPERVISOR. PRIOR TO ISSUANCE, A FINAL REVIEW AND APPROVAL IS PROCESSED BY THE CENTRAL PAYMENT PROCESSING DEPARTMENT.
Schedule I (Form 990) Rev. 1-2025



Additional Data


Software ID:  
Software Version:  


Schedule J
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
medium right arrow graphic Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
medium right arrow graphic Attach to Form 990.
medium right arrow graphic Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
DUKE UNIVERSITY
 
Employer identification number

56-0532129
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed on Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes on Line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain .....
1b
Yes
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked on Line 1a? ....
2
Yes
 
3
Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
4
During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? .............
4a
Yes
 
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........
4b
Yes
 
c
Participate in, or receive payment from, an equity-based compensation arrangement? .........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.
5
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ....................
5a
 
No
b
Any related organization? .......................
5b
 
No
If "Yes," on line 5a or 5b, describe in Part III.
6
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ..................
6a
 
No
b
Any related organization? ......................
6b
 
No
If "Yes," on line 6a or 6b, describe in Part III.
7
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
 
No
8
Were any amounts reported on Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III ..........................
8
 
No
9
If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) (Rev. 1-2025)

Schedule J (Form 990) (Rev. 1-2025)
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.
For each individual whose compensation must be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.
(A) Name and Title (B) Breakdown of W-2, 1099-MISC compensation, and/or 1099-NEC (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation in column (B) reported as deferred on prior Form 990
(i) Base
compensation 		(ii) Bonus & incentive
compensation 		(iii) Other reportable compensation
1NEAL F TRIPLETT
CHIEF INVESTMENT OFFICER 		(i)

(ii)		 887,718
-------------
0 		3,975,000
-------------
0 		23,000
-------------
0 		42,072
-------------
0 		87,795
-------------
0 		5,015,585
-------------
0 		0
-------------
0
2MANUEL DIAZ
COACH 		(i)

(ii)		 4,119,975
-------------
0 		28,999
-------------
0 		23,000
-------------
0 		42,072
-------------
0 		77,163
-------------
0 		4,291,209
-------------
0 		0
-------------
0
3JONATHAN COOK MD
PHYSICIAN 		(i)

(ii)		 192,316
-------------
2,506,241 		0
-------------
592,437 		23,000
-------------
0 		42,072
-------------
0 		21,149
-------------
8,321 		278,537
-------------
3,106,999 		0
-------------
0
4JENNIFER FRANCIS
PROFESSOR 		(i)

(ii)		 435,454
-------------
0 		0
-------------
0 		2,500,000
-------------
0 		42,072
-------------
0 		9,604
-------------
0 		2,987,130
-------------
0 		0
-------------
0
5JONATHAN SCHEYER
COACH 		(i)

(ii)		 1,588,533
-------------
0 		1,150,000
-------------
0 		25,646
-------------
0 		42,072
-------------
0 		26,206
-------------
0 		2,832,457
-------------
0 		0
-------------
0
6JOSEPH TUREK MD
PHYSICIAN 		(i)

(ii)		 409,127
-------------
1,841,611 		0
-------------
251,200 		23,000
-------------
0 		42,072
-------------
0 		28,600
-------------
6,114 		502,799
-------------
2,098,925 		0
-------------
0
7JUSTIN B NIXON
INVESTMENT MANAGER 		(i)

(ii)		 437,050
-------------
0 		1,269,560
-------------
0 		214,400
-------------
0 		325,272
-------------
0 		36,862
-------------
0 		2,283,144
-------------
0 		214,400
-------------
0
8EVAN L JONES
INVESTMENT MANAGER 		(i)

(ii)		 418,942
-------------
0 		1,269,560
-------------
0 		237,400
-------------
0 		325,272
-------------
0 		21,902
-------------
0 		2,273,076
-------------
0 		214,400
-------------
0
9VINCENT E PRICE
PRESIDENT/TRUSTEE 		(i)

(ii)		 2,114,417
-------------
0 		0
-------------
0 		23,000
-------------
0 		42,072
-------------
0 		27,489
-------------
0 		2,206,978
-------------
0 		0
-------------
0
10KAVITA NAYAR
INVESTMENT MANAGER 		(i)

(ii)		 440,265
-------------
0 		1,027,299
-------------
0 		147,400
-------------
0 		258,272
-------------
0 		28,017
-------------
0 		1,901,253
-------------
0 		147,400
-------------
0
11MARY E KLOTMAN MD
EVP FOR HEALTH AFFAIRS & DEAN OF SOM 		(i)

(ii)		 1,147,203
-------------
0 		356,274
-------------
0 		19,167
-------------
0 		42,072
-------------
0 		19,983
-------------
0 		1,584,699
-------------
0 		0
-------------
0
12DANIEL G ENNIS
EXECUTIVE VICE PRESIDENT 		(i)

(ii)		 1,334,937
-------------
0 		106,149
-------------
0 		23,000
-------------
0 		42,072
-------------
0 		35,641
-------------
0 		1,541,799
-------------
0 		0
-------------
0
13ALEC GALLIMORE
PROVOST 		(i)

(ii)		 988,218
-------------
53,500 		70,390
-------------
0 		23,258
-------------
0 		42,072
-------------
0 		37,905
-------------
0 		1,161,843
-------------
53,500 		0
-------------
0
14JAMES SCOTT GIBSON
EXEC VICE DEAN OF ADMIN, SOM 		(i)

(ii)		 675,492
-------------
0 		288,631
-------------
0 		23,000
-------------
0 		42,072
-------------
0 		33,309
-------------
0 		1,062,504
-------------
0 		0
-------------
0
15GARY BENNETT
DEAN, COLLEGE OF A & S 		(i)

(ii)		 706,880
-------------
0 		0
-------------
0 		23,000
-------------
0 		42,072
-------------
0 		27,546
-------------
0 		799,498
-------------
0 		0
-------------
0
16PAMELA J BERNARD
PART YEAR VP & UNIVERSITY COUNSEL 		(i)

(ii)		 679,209
-------------
0 		0
-------------
0 		23,000
-------------
0 		42,072
-------------
0 		20,828
-------------
0 		765,109
-------------
0 		0
-------------
0
17RACHEL SATTERFIELD
TREASURER & VP OF FINANCE 		(i)

(ii)		 670,285
-------------
0 		0
-------------
0 		0
-------------
0 		42,072
-------------
0 		17,767
-------------
0 		730,124
-------------
0 		0
-------------
0
18KIM TAYLOR
PART YEAR VP & UNIVERSITY COUNSEL 		(i)

(ii)		 318,241
-------------
0 		257,052
-------------
0 		35,299
-------------
0 		34,686
-------------
0 		37,640
-------------
0 		682,918
-------------
0 		0
-------------
0
19MOHAMED NOOR
FORMER KEY EMPLOYEE 		(i)

(ii)		 213,980
-------------
0 		311,597
-------------
0 		23,000
-------------
0 		42,072
-------------
0 		21,047
-------------
0 		611,696
-------------
0 		0
-------------
0
20MARGARET W EPPS
UNIVERSITY SECRETARY 		(i)

(ii)		 498,815
-------------
0 		0
-------------
0 		23,000
-------------
0 		42,072
-------------
0 		16,118
-------------
0 		580,005
-------------
0 		0
-------------
0
21JOHN J NOONAN
VP FOR FACILITIES 		(i)

(ii)		 474,538
-------------
0 		1,615
-------------
0 		23,000
-------------
0 		42,072
-------------
0 		30,521
-------------
0 		571,746
-------------
0 		0
-------------
0
Schedule J (Form 990) (Rev. 1-2025)

Schedule J (Form 990) (Rev. 1-2025)
Page 3
Part III
Supplemental Information
Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.
Return Reference Explanation
PART I, LINE 1A CHARTER TRAVEL JONATHAN SCHEYER USED CHARTER TRAVEL SERVICES AND TO THE EXTENT SUCH TRAVEL WAS NOT FOR BUSINESS PURPOSES, SUCH AMOUNTS WERE INCLUDED IN TAXABLE INCOME OF THE INDIVIDUAL. VINCENT E. PRICE, DANIEL G. ENNIS AND MARGARET W. EPPS USED FIRST CLASS OR CHARTER TRAVEL SERVICES. SUCH TRAVEL WAS FOR BUSINESS PURPOSES AND NOT INCLUDED IN TAXABLE INCOME TO THE INDIVIDUALS. TRAVEL FOR COMPANIONS COMPANIONS HAVE TRAVELED WITH VINCENT E. PRICE AND JONATHAN SCHEYER. TO THE EXTENT IT WAS PERSONAL IN NATURE, SUCH AMOUNTS WERE INCLUDED IN THEIR TAXABLE INCOME. RESIDENCE FOR PERSONAL USE VINCENT E. PRICE WAS PROVIDED WITH ON CAMPUS LIVING FACILITIES AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE UNIVERSITY. ACCORDINGLY, SUCH LODGING IS NOT INCLUDED IN TAXABLE INCOME. PERSONAL SERVICES THE UNIVERSITY PROVIDES HOUSEKEEPING SERVICES TO MAINTAIN ALL UNIVERSITY FACILITIES, INCLUDING THE FACILITIES USED BY THE UNIVERSITY'S PRESIDENT. IN ADDITION TO PROVIDING A PERSONAL RESIDENCE THAT IS FOR THE CONVENIENCE OF THE UNIVERSITY, THE FACILITIES ARE USED THROUGHOUT THE YEAR FOR NUMEROUS DUKE RELATED FUNCTIONS. CLUB DUES JAMES SCOTT GIBSON WAS PROVIDED WITH CLUB MEMBERSHIPS. TO THE EXTENT THE DUES WERE CONSIDERED PERSONAL, THE AMOUNTS WERE INCLUDED IN TAXABLE INCOME. DUKE POLICY GOVERNS THE NATURE AND TYPE OF ALLOWABLE EXPENDITURES AND PAYMENTS, INCLUDING REQUIREMENTS TO PROVIDE SUPPORTING DOCUMENTATION DETAILING THE TRANSACTION AND BUSINESS PURPOSE. ANY APPROVED EXCEPTIONS TO POLICY ARE DOCUMENTED IN CORRESPONDENCE OR EMPLOYMENT AGREEMENTS. TAX INDEMNIFICATION ALEC GALLIMORE, JONATHAN SCHEYER, AND KIM TAYLOR RECEIVED A BENEFIT THAT WAS GROSSED UP TO COMPENSATE FOR WITHHOLDING OF TAXES. SUCH AMOUNTS WERE INCLUDED IN THEIR TAXABLE INCOME.
PART I, LINES 4A-B SEVERANCE PAYMENT JENNIFER FRANCIS RECEIVED A PAYMENT IN CONNECTION WITH A SEPARATION AGREEMENT. SUCH AMOUNTS WERE INCLUDED IN SCHEDULE J, PART II, COLUMN B (III). SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN THE FOLLOWING INDIVIDUALS PARTICIPATED IN AND RECEIVED PAYMENTS UNDER A DEFERRED COMPENSATION PLAN DESCRIBED UNDER SECTION 457(F) OF THE INTERNAL REVENUE CODE: EVAN L. JONES $214,400; JUSTIN B. NIXON $214,400 AND KAVITA NAYAR $147,400. SUCH AMOUNTS WERE SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE AS DEFINED UNDER IRC SECTION 457(F).
Schedule J (Form 990) (Rev. 1-2025)

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Schedule K
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information on Tax-Exempt Bonds
Complete if the organization answered "Yes" to Form 990, Part Ⅵ, line 24a. Provide descriptions,
explanations, and any additional information in Part Ⅵ.
Attach to Form 990.
Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public
Inspection
Name of the organization
DUKE UNIVERSITY
 
Employer identification number
56-0532129
Part Ⅰ
Bond Issues
(a) Issuer name (b) Issuer EIN (c) CUSIP # (d) Date issued (e) Issue price (f) Description of purpose (g) Defeased (h) On
behalf of
issuer		 (i) Pool
financing
Yes No Yes No Yes No
A NC CAPITAL FACILITIES FINANCE AGENCY
  		56-1592154 65819GLE6 11-03-2016 380,642,978 SEE PART VI   X   X   X
B NC CAPITAL FACILITIES FINANCE AGENCY
  		56-1592154 99VARIOUS 06-27-2018 472,535,000 SEE PART VI   X   X   X
Part Ⅱ
Proceeds
A B C D
1 Amount of bonds retired ..................   33,860,000    
2 Amount of bonds legally defeased ..............        
3 Total proceeds of issue .................. 380,642,978 33,860,000    
4 Gross proceeds in reserve funds .............        
5 Capitalized interest from proceeds .............        
6 Proceeds in refunding escrows ............... 378,939,046 33,860,000    
7 Issuance costs from proceeds ............... 1,703,932      
8 Credit enhancement from proceeds .............        
9 Working capital expenditures from proceeds .............        
10 Capital expenditures from proceeds .............        
11 Other spent proceeds .............        
12 Other unspent proceeds .............        
13 Year of substantial completion ............. 2008 2015
Yes No Yes No Yes No Yes No
14 Were the bonds issued as part of a current refunding issue of tax-exempt
bonds (or, if issued prior to 2020, a current refunding issue)? ........ 		X   X          
15 Were the bonds issued as part of an advance refunding issue of taxable
bonds (or, if issued prior to 2020, an advance refunding issue)? ........ 		  X   X        
16 Has the final allocation of proceeds been made? .......... X     X        
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? .................. X   X          
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) (Rev. 1-2025)

Schedule K (Form 990) (Rev. 1-2025)
Page 2
Part Ⅲ
Private Business Use
A B C D
Yes No Yes No Yes No Yes No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? .............   X   X        
2 Are there any lease arrangements that may result in private business use of bond-financed property? ...............   X   X        
3a Are there any management or service contracts that may result in private business use of bond-financed property? ............. X   X          
b If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property? X   X          
c Are there any research agreements that may result in private business use of bond-financed property? ............. X   X          
d If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property? X   X          
4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government .... 0 % 0 %    
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government ......... 0.180 % 0 %    
6 Total of lines 4 and 5 ............. 0.180 % 0 %    
7 Does the bond issue meet the private security or payment test? ...   X   X        
8a Has there been a sale or disposition of any of the bond-financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?.............   X   X        
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of. ..        
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? .............                
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under
Regulations sections 1.141-12 and 1.145-2? ........ 		X   X          
Part Ⅳ
Arbitrage
A B C D
Yes No Yes No Yes No Yes No
1 Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate? ...   X   X        
2 If "No" to line 1, did the following apply? ....
a Rebate not due yet? .......   X   X        
b Exception to rebate? ........   X   X        
c No rebate due? ......... X     X        
If "Yes" to line 2c, provide in Part Ⅵ the date the rebate
computation was performed ......
3 Is the bond issue a variable rate issue? .....   X   X        
Schedule K (Form 990) (Rev. 1-2025)

Schedule K (Form 990) (Rev. 1-2025)
Page 3
Part Ⅳ
Arbitrage (Continued)
A B C D
Yes No Yes No Yes No Yes No
4a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?   X   X        
b Name of provider ..........  
  		 
  		 
  		 
 
c Term of hedge .........        
d Was the hedge superintegrated? ......                
e Was the hedge terminated? ........                
5a Were gross proceeds invested in a guaranteed investment contract (GIC)?   X   X        
b Name of provider ..........  
  		 
  		 
  		 
 
c Term of GIC .........        
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? ........                
6 Were any gross proceeds invested beyond an available temporary period?   X   X        
7 Has the organization established written procedures to monitor the requirements of section 148? ... X   X          
Part Ⅴ
Procedures To Undertake Corrective Action
A B C D
Yes No Yes No Yes No Yes No
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations? X   X          
Part Ⅵ
Supplemental Information. Provide additional information for responses to questions on Schedule K. (See instructions).
Return Reference Explanation
FORM 990, SCHEDULE K, PART 1(C) TAX-EXEMPT BOND BOND ISSUE (B): FORM 8038 LISTS THE CUSIP NUMBERS AS VARIOUS DUE TO THE NATURE OF THE NOTES ISSUED, I.E., COMMERCIAL PAPER. THE ISSUE CLOSED ON 6/27/2018 AND THERE WERE NO CUSIPS OUTSTANDING AS OF 6/30/2025 UNDER THE NEW ISSUE.
FORM 990, SCHEDULE K, PART 1(E) TAX-EXEMPT BONDS BOND ISSUE (B): REPRESENTS MAXIMUM PRINCIPAL AMOUNT OF NEW MONEY COMMERCIAL PAPER NOTES ($472,535,000) AND FIRST GENERATION CURRENT REFUNDING COMMERCIAL PAPER NOTES ($33,860,000) THAT CAN BE ISSUED PURSUANT TO THIS COMMERCIAL PAPER PROGRAM.
FORM 990, SCHEDULE K, PART 1(F) DESCRIPTION OF PURPOSE OF TAX-EXEMPT BONDS BOND ISSUE (A): TO (1) REFUND A PORTION OF THE 2006A BONDS ISSUED 11/02/2006, (2) A PORTION OF THE 2006B BONDS ISSUED 01/09/2007. BOND ISSUE (B): COMMERCIAL PAPER PROGRAM, THE PURPOSE OF WHICH ARE TO (1) REFUND COMMERCIAL PAPER NOTES ISSUED UNDER A PRIOR PROGRAM WITH AN ISSUE DATE OF 07/16/2014 AND (2) FINANCE PROJECTS ON THE WEST, EAST AND CENTRAL CAMPUS OF DUKE UNIVERSITY.
FORM 990, SCHEDULE K, PART IV TAX-EXEMPT BOND LINE 2 BOND ISSUE (A) - 11/01/2024 BOND ISSUE (B): SALES PROCEEDS ALLOCATED UPON ISSUANCE AND NOT INVESTED
Schedule K (Form 990) (Rev. 1-2025)

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Schedule L
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Transactions with Interested Persons
Complete if the organization answered "Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c, or Form 990-EZ, Part V, line 38a or 40b.
Attach to Form 990 or Form 990-EZ.
Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
DUKE UNIVERSITY
 
Employer identification number

56-0532129
Part I
Excess Benefit Transactions (section 501(c)(3), section 501(c)(4), and section 501(c)(29) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.
1(a) Name of disqualified person (b) Relationship between disqualified person and organization (c) Description of transaction (d) Corrected?
Yes No
2
Enter the amount of tax incurred by the organization managers or disqualified persons during the year under section 4958. ........................... $
 
3
Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ........ $
 

Part II
Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990-EZ, Part V, line 38a, or Form 990, Part IV, line 26; or if the organization reported an amount on Form 990, Part X, line 5, 6, or 22
(a) Name of interested person (b) Relationship with organization (c) Purpose of loan (d) Loan to or from the organization? (e) Original principal amount (f) Balance due (g) In default? (h) Approved by board or committee? (i) Written agreement?
To From Yes No Yes No Yes No
Total ............... $  
Part III
Grants or Assistance Benefiting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of assistance (d) Type of assistance (e) Purpose of assistance
(1) STUDENT FAMILY MEMBER OF KEY EMPLOYEE 3,000 TUITION REMISSION SCHOLARSHIP
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 50056A
Schedule L (Form 990) (Rev. 1-2025)
Schedule L (Form 990) (Rev. 1-2025)
Page 2
Part IV
Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of transaction (d) Description of transaction (e) Sharing of organization's revenues?
Yes No
(1) ENDEAVOR OLE PARENT LLC
  		SEE PART V 360,495 SEE PART V   No
(2) ENDEAVOR PARENT LLC
  		SEE PART V 56,250 SEE PART V   No
(3) QUALTRICS LLC
  		SEE PART V 243,108 SEE PART V   No
(4) JOHN CLEMENTS SEE PART V 456,007 SEE PART V   No
(5) ELIZABETH MONAHAN SEE PART V 45,100 SEE PART V   No
Part V
Supplemental Information
Provide additional information for responses to questions on Schedule L (see instructions).
Return Reference Explanation
SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF INTERESTED PERSON: ENDEAVOR OLE PARENT, LLC(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: ENDEAVOR OLE PARENT, LLC DIRECTOR IS A DUKE UNIVERSITY TRUSTEE(C) AMOUNT OF TRANSACTION: $360,495(D) DESCRIPTION OF TRANSACTION: PAYMENT FOR GOODS AND SERVICES(E) SHARING OF ORGANIZATION REVENUE? = NO(A) NAME OF INTERESTED PERSON: ENDEAVOR PARENT, LLC(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: ENDEAVOR PARENT, LLC DIRECTOR IS A DUKE UNIVERSITY TRUSTEE(C) AMOUNT OF TRANSACTION: $56,250(D) DESCRIPTION OF TRANSACTION: PAYMENT FOR GOODS AND SERVICES(E) SHARING OF ORGANIZATION REVENUE? = NO(A) NAME OF INTERESTED PERSON: QUALTRICS, LLC(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: QUALTRICS LLC DIRECTOR IS A DUKE UNIVERSITY TRUSTEE(C) AMOUNT OF TRANSACTION: $243,108(D) DESCRIPTION OF TRANSACTION: PAYMENT FOR GOODS AND SERVICES(E) SHARING OF ORGANIZATION REVENUE? = NO(A) NAME OF INTERESTED PERSON: JOHN CLEMENTS(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: JOHN CLEMENTS IS A FAMILY MEMBER OF A DUKE UNIVERSITY OFFICER(C) AMOUNT OF TRANSACTION: $456,007(D) DESCRIPTION OF TRANSACTION: PAYMENT FOR SALARY AND BENEFITS(E) SHARING OF ORGANIZATION REVENUE? = NO(A) NAME OF INTERESTED PERSON: ELIZABETH MONAHAN(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: ELIZABETH MONAHAN IS A FAMILY MEMBER OF A DUKE UNIVERSITYTRUSTEE(C) AMOUNT OF TRANSACTION: $45,100(D) DESCRIPTION OF TRANSACTION: PAYMENT FOR SALARY AND BENEFITS(E) SHARING OF ORGANIZATION REVENUE? = NO
Schedule L (Form 990) (Rev. 1-2025)


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SCHEDULE M
(Form 990)

Department of the Treasury
Internal Revenue Service
Noncash Contributions
Right pointing arrow large image Complete if the organizations answered "Yes" on Form 990, Part IV, lines 29 or 30.
Right pointing arrow large image Attach to Form 990.
Right pointing arrow large image Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2024
Open to Public Inspection
Name of the organization
DUKE UNIVERSITY
 
Employer identification number

56-0532129
Part I
Types of Property
(a)
Check if applicable 		(b)
Number of contributions or items contributed 		(c)
Noncash contribution amounts reported on
Form 990, Part VIII, line 1g 		(d)
Method of determining
noncash contribution amounts
1 Art—Works of art .... X 28 3,088,003 VARIOUS
2 Art—Historical treasures .        
3 Art—Fractional interests ..        
4 Books and publications .. X 589,534 VARIOUS
5 Clothing and household
goods ....... 		     
6 Cars and other vehicles ..        
7 Boats and planes ....        
8 Intellectual property ...        
9 Securities—Publicly traded . X 1,142 52,904,405 MARKET QUOTE
10 Securities—Closely held stock .        
11 Securities—Partnership, LLC,
or trust interests .... 		       
12 Securities—Miscellaneous ..        
13 Qualified conservation
contribution—Historic
structures ..... 		       
14 Qualified conservation
contribution—Other ... 		       
15 Real estate—Residential . X 1 390,000 FMV
16 Real estate—Commercial ..        
17 Real estate—Other ...        
18 Collectibles .....        
19 Food inventory ...        
20 Drugs and medical supplies .        
21 Taxidermy ......        
22 Historical artifacts ....        
23 Scientific specimens ..        
24 Archeological artifacts ...        
25 Other Right pointing arrow large image ( EVENT TICKETS ) X 3,014 970,803 FMV/FACE VALUE
26 Other Right pointing arrow large image ( EQUIPMENT ) X 10 106,028 FMV
27 Other Right pointing arrow large image ( MISCELLANEOUS ) X 308 93,362 VARIOUS
28 Other Right pointing arrow large image ( )
29
Number of Forms 8283 received by the organization during the tax year for contributions
for which the organization completed Form 8283, Part IV, Donee Acknowledgement
29
14
Yes
No
30a
During the year, did the organization receive by contribution any property reported in Part I, lines 1 through 28, that it must hold for at least three years from the date of the initial contribution, and which isn't required to be used for exempt purposes for the entire holding period? ...................
30a
 
No
b
If "Yes," describe the arrangement in Part II.
31
Does the organization have a gift acceptance policy that requires the review of any nonstandard contributions?
31
Yes
 
32a
Does the organization hire or use third parties or related organizations to solicit, process, or sell noncash
contributions? ..........................
32a
Yes
 
b
If "Yes," describe in Part II.
33
If the organization didn't report an amount in column (c) for a type of property for which column (a) is checked,
describe in Part II.
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 51227J
Schedule M (Form 990) (2024)
Schedule M (Form 990) (2024)
Page 2
Part IISupplemental Information. Provide the information required by Part I, lines 30b, 32b, and 33, and whether the organization is reporting in Part I, column (b), the number of contributions, the number of items received, or a combination of both. Also complete this part for any additional information.
Return Reference Explanation
PART I, LINE 32B: USE OF THIRD PARTIES TO SOLICIT, PROCESS, OR SELL NONCASH CONTRIBUTIONS DUKE UNIVERSITY USES INVESTMENT BROKERS TO SELL SECURITIES. DUKE UNIVERSITY MAY OCCASIONALLY USE THIRD PARTIES TO SELL OTHER TYPES OF NON-CASH CONTRIBUTIONS, AS THE NEED ARISES.
Schedule M (Form 990) (2024)

Additional Data


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SCHEDULE O
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
 Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public
Inspection
Name of the organization
DUKE UNIVERSITY
 
Employer identification number

56-0532129
Return Reference Explanation
FORM 990, PART III, LINE 1 ORGANIZATION'S MISSION "JAMES B. DUKE'S FOUNDING INDENTURE OF DUKE UNIVERSITY DIRECTED THE MEMBERS OF THE UNIVERSITY TO 'PROVIDE REAL LEADERSHIP IN THE EDUCATIONAL WORLD' BY CHOOSING INDIVIDUALS OF 'OUTSTANDING CHARACTER, ABILITY, AND VISION' TO SERVE AS ITS OFFICERS, TRUSTEES AND FACULTY; BY CAREFULLY SELECTING STUDENTS OF 'CHARACTER, DETERMINATION AND APPLICATION; AND BY PURSUING THOSE AREAS OF TEACHING AND SCHOLARSHIP THAT WOULD 'MOST HELP TO DEVELOP OUR RESOURCES, INCREASE OUR WISDOM, AND PROMOTE HUMAN HAPPINESS.' "TO THESE ENDS, THE MISSION OF DUKE UNIVERSITY IS TO PROVIDE A SUPERIOR LIBERAL EDUCATION TO UNDERGRADUATE STUDENTS, ATTENDING NOT ONLY TO THEIR INTELLECTUAL GROWTH BUT ALSO THEIR DEVELOPMENT AS ADULTS COMMITTED TO HIGH ETHICAL STANDARDS AND FULL PARTICIPATION AS LEADERS IN THEIR COMMUNITIES; TO PREPARE FUTURE MEMBERS OF THE LEARNED PROFESSIONS FOR LIVES OF SKILLED AND ETHICAL SERVICE BY PROVIDING EXCELLENT GRADUATE AND PROFESSIONAL EDUCATION; TO ADVANCE THE FRONTIERS OF KNOWLEDGE AND CONTRIBUTE BOLDLY TO THE INTERNATIONAL COMMUNITY OF SCHOLARSHIP; TO PROMOTE AN INTELLECTUAL ENVIRONMENT BUILT ON A COMMITMENT TO FREE AND OPEN INQUIRY; TO HELP THOSE WHO SUFFER, CURE DISEASE, AND PROMOTE HEALTH, THROUGH SOPHISTICATED MEDICAL RESEARCH AND THOUGHTFUL PATIENT CARE; TO PROVIDE WIDE RANGING EDUCATIONAL OPPORTUNITES, ON AND BEYOND OUR CAMPUSES, FOR TRADITIONAL STUDENTS, ACTIVE PROFESSIONALS AND LIFE-LONG LEARNERS USING THE POWER OF INFORMATION TECHNOLOGIES; AND TO PROMOTE A DEEP APPRECIATION FOR THE RANGE OF HUMAN DIFFERENCE AND POTENTIAL, A SENSE OF THE OBLIGATIONS AND REWARDS OF CITIZENSHIP, AND A COMMITMENT TO LEARNING, FREEDOM AND TRUTH. "BY PURSUING THESE OBJECTIVES WITH VISION AND INTEGRITY, DUKE UNIVERSITY SEEKS TO ENGAGE THE MIND, ELEVATE THE SPIRIT, AND STIMULATE THE BEST EFFORT OF ALL WHO ARE ASSOCIATED WITH THE UNIVERSITY; TO CONTRIBUTE IN DIVERSE WAYS TO THE LOCAL COMMUNITY, THE STATE, THE NATION AND THE WORLD; AND TO ATTAIN AND MAINTAIN A PLACE OF REAL LEADERSHIP IN ALL THAT WE DO."
FORM 990, PART VI, SECTION A, LINE 2 TRUSTEES KAREN M. KING AND MICHAEL J. BINGLE BOTH HOLD SENIOR LEADERSHIP POSITIONS (MANAGING DIRECTOR AND VICE CHAIRMAN RESPECTIVELY) AT SILVER LAKE GROUP.
FORM 990, PART VI, SECTION A, LINE 4 THE DUKE UNIVERSITY BYLAWS WERE REVISED TO UPDATE THE PROVISIONS TO AMEND THE BYLAWS. THE BOARD OF TRUSTEES SECRETARY SHOULD TRANSMIT THE WRITTEN NOTICE OF THE MEETING AND THE PROPOSED AMENDMENT TO BE CONSIDERED BY EACH MEMBER, AT LEAST FIVE DAYS BEFORE THE MEETING IN ELECTRONIC FORM OR BY PRIVATE OR U.S. POSTAL SERVICE.
FORM 990, PART VI, SECTION A, LINE 7A GRADUATES OF DUKE UNIVERSITY HAVE THE RIGHT TO ELECT TWELVE TRUSTEES TO SERVE ON THE BOARD OF TRUSTEES.
FORM 990, PART VI, SECTION B, LINE 11B DUKE UNIVERSITY'S DRAFT FORM 990 IS DISTRIBUTED TO THE AUDIT & COMPLIANCE COMMITTEE OF THE UNIVERSITY TRUSTEES. AT THE MEETING, THE DUKE UNIVERSITY TAX SENIOR DIRECTOR, THE PERSON RESPONSIBLE FOR THE PREPARATION OF THE UNIVERSITY'S FORM 990, IS AVAILABLE FOR QUESTIONS FROM THE COMMITTEE. NOT ONLY IS THE COMMITTEE OFFERED AN OPPORTUNITY TO ASK QUESTIONS AT THE MEETING, BUT ALSO ANYTIME THEREAFTER BY CONTACTING THE TAX SENIOR DIRECTOR OR DUKE UNIVERSITY'S OFFICE OF COUNSEL, WHO IS ALSO INVOLVED WITH THE REVIEW OF DUKE UNIVERSITY'S FORM 990. SUBSEQUENTLY, A DRAFT FORM 990 IS DISTRIBUTED TO THE FULL BOARD OF TRUSTEES OF THE UNIVERSITY PRIOR TO FILING AND IN ADVANCE OF A MEETING. THERE IS OPPORTUNITY FOR THE TRUSTEES TO ASK QUESTIONS OF THE TAX SENIOR DIRECTOR AT THE MEETING OR ANYTIME THEREAFTER.
FORM 990, PART VI, SECTION B, LINE 12C THE PRESIDENT, OFFICERS, AND EMPLOYEES WITH ADMINISTRATIVE RESPONSIBILITIES SHALL EXERCISE THE UTMOST GOOD FAITH IN ALL TRANSACTIONS TOUCHING UPON THEIR DUTIES TO DUKE UNIVERSITY AND ITS PROPERTY. IN THEIR DEALINGS WITH AND ON BEHALF OF THE INSTITUTION, THEY SHALL BE HELD TO A STRICT RULE OF HONEST AND FAIR DEALINGS BETWEEN THEMSELVES AND THE UNIVERSITY. THEY SHALL NOT USE THEIR POSITIONS, OR KNOWLEDGE GAINED THEREFROM, IN SUCH A WAY THAT A MATERIAL CONFLICT WOULD ARISE BETWEEN THE INTEREST OF THE UNIVERSITY AND THAT OF THE INDIVIDUAL. COMPLIANCE IS MONITORED WITH AN ANNUAL SURVEY. IDENTIFIED CONFLICTS ARE ANALYZED AND MANAGED ACCORDINGLY.
FORM 990, PART VI, SECTION B, LINE 15 THE DUKE UNIVERSITY COMPENSATION COMMITTEE, COMPRISED OF MEMBERS OF THE DUKE UNIVERSITY BOARD OF TRUSTEES, REVIEWS AND APPROVES ALL EXECUTIVE COMPENSATION FOR CERTAIN DISQUALIFIED PERSONS AND OTHER KEY EMPLOYEES. DUKE UNIVERSITY HAS ADOPTED A STATEMENT OF COMPENSATION PHILOSOPHY THAT ARTICULATES BROAD OBJECTIVES TO HELP GUIDE THE DUKE UNIVERSITY COMPENSATION COMMITTEE IN ITS MISSION. THE DUKE UNIVERSITY COMPENSATION COMMITTEE ENGAGES THE SERVICES OF AN OUTSIDE EXECUTIVE COMPENSATION CONSULTING FIRM TO ESTABLISH COMPARABILITY DATA OF OTHER UNIVERSITIES OF SIMILAR SIZE AND COMPLEXITY AS DUKE UNIVERSITY, ADVISE REGARDING COMPARATIVE COMPENSATION NORMS, AND ENSURE COMPLIANCE WITH IRS EXECUTIVE COMPENSATION RULES, INCLUDING INTERMEDIATE SANCTIONS, DEFERRED COMPENSATION, AND PRIVATE INUREMENT. THE DUKE UNIVERSITY COMPENSATION COMMITTEE REVIEWS THE MARKET ANALYSIS THEN DETERMINES THE REASONABLENESS AND APPROPRIATENESS OF ALL ASPECTS OF EXECUTIVE COMPENSATION. THE DELIBERATIONS AND CONCLUSIONS OF THE DUKE UNIVERSITY COMPENSATION COMMITTEE ARE KEPT BY THE UNIVERSITY SECRETARY WHO RECORDS THE MINUTES OF THE COMMITTEE MEETING.
FORM 990, PART VI, SECTION C, LINE 18 IN ADDITION TO PROVIDING THE ORGANIZATION'S FORM 990 UPON REQUEST, THE ORGANIZATION'S FORM 990 IS AVAILABLE TO THE PUBLIC ON SEVERAL THIRD PARTY WEBSITES. WHILE THE ORGANIZATION DOES NOT PROVIDE THE FORM 990 DIRECTLY TO THESE THIRD PARTIES, THE FORM 990 IS OBTAINED FROM THE INTERNAL REVENUE SERVICE. THE THIRD PARTIES SUBSEQUENTLY AND INDEPENDENTLY PROVIDE ACCESS TO THE FORM 990 ON THEIR PLATFORM.
FORM 990, PART VI, SECTION C, LINE 19 DUKE UNIVERSITY'S DOCUMENTS (ARTICLES OF INCORPORATION AND ANY SUBSEQUENT AMENDMENTS OR RESTATEMENTS) ARE AVAILABLE TO THE PUBLIC ON THE NORTH CAROLINA SECRETARY OF STATE WEBSITE. DUKE UNIVERSITY MAKES ITS ORGANIZING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC ON ITS WEBSITE. DUKE UNIVERSITY'S CONSOLIDATED AUDITED FINANCIAL STATEMENTS ARE LOCATED AT HTTPS://FINANCE.DUKE.EDU/RESOURCES/DOCS.
FORM 990, PART VII, SECTION A (COMPENSATION REPORTING/HIGHEST COMPENSATED EMPLOYEES): THE ORGANIZATION DETERMINED THE INDIVIDUALS REPORTED AS THE "FIVE HIGHEST COMPENSATED EMPLOYEES" ON FORM 990, PART VII, SECTION A IN ACCORDANCE WITH THE APPLICABLE FORM 990 INSTRUCTIONS, WHICH CONSIDER REPORTABLE COMPENSATION PAID BY THE FILING ORGANIZATION AND BY RELATED ORGANIZATIONS. BECAUSE CERTAIN PERSONNEL HAVE SPLIT-FUNDED OR DUAL-ROLE ARRANGEMENTS ACROSS RELATED ORGANIZATIONS, AN INDIVIDUAL MAY BE AMONG THE FIVE HIGHEST COMPENSATED EMPLOYEES OF MORE THAN ONE RELATED ORGANIZATION BASED ON TOTAL REPORTABLE COMPENSATION, EVEN IF A SUBSTANTIAL PORTION OF THAT COMPENSATION IS PAID BY A RELATED ORGANIZATION. RELATED-ORGANIZATION COMPENSATION IS REPORTED ON PART VII, SECTION A, COLUMNS (E) AND (F), AS APPLICABLE (AND ON SCHEDULE J, IF APPLICABLE). FOR ADDITIONAL TRANSPARENCY TO READERS, THE ORGANIZATION IS ALSO PROVIDING THE FOLLOWING INFORMATION, WHICH IS NOT REQUIRED BY FORM 990: THE INDIVIDUALS WHO WOULD HAVE BEEN INCLUDED AS THE ORGANIZATION'S FIVE HIGHEST COMPENSATED EMPLOYEES BASED SOLELY ON COMPENSATION PAID BY THE FILING ORGANIZATION, BUT WHO ARE NOT INCLUDED ON PART VII BECAUSE THE PART VII LIST IS LIMITED TO FIVE INDIVIDUALS DETERMINED UNDER THE FORM 990 INSTRUCTIONS. ADDITIONAL HIGHLY COMPENSATED EMPLOYEES (VOLUNTARY DISCLOSURE; NOT REQUIRED FOR PART VII REPORTING): A EUGENE WASHINGTON MD, CHANCELLOR EMERITUS FOR HEALTH AFFAIRS - REPORTABLE COMPENSATION (W-2/1099): $2,285,670 GERALD GRANT, CHAIR OF NEUROSURGERY AND ALLAN H. FRIEDMAN DISTINGUISHED PROFESSOR/SURGEON - REPORTABLE COMPENSATION (W-2/1099): $1,809,446
FORM 990, PART XI, LINE 9: CHANGES IN PERPETUAL TRUSTS & SPLIT INT AGREEMENTS 36,170,587. TRANSFERS FROM DUHS 264,047,155. NONPERIODIC CHANGES 64,078,000. OTHER CHANGES 10,399,685.
FORM 990, PART XII, LINE 3B FEDERAL AWARDS RECEIVED BY THE ORGANIZATION ARE INCLUDED IN THE DUKE UNIVERSITY FY2025 UNIFORM GUIDANCE AUDIT. ITS AUDIT UNDER THE UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS WAS ISSUED ON MARCH 5, 2026.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990) (Rev. 1-2025)


Additional Data


Software ID:  
Software Version:  
SCHEDULE R
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
Complete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
Attach to Form 990.
Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047
Open to Public Inspection
Name of the organization
DUKE UNIVERSITY
 
Employer identification number

56-0532129
Part I
Identification of Disregarded Entities. Complete if the organization answered "Yes" on Form 990, Part IV, line 33.
(a)
Name, address, and EIN (if applicable) of disregarded entity


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Total income


 		(e)
End-of-year assets


 		(f)
Direct controlling
entity
(1) DUKE UK TRUST LIMITED
19 NORCOTT ROAD
LONDON   N167EJ
UK
98-0555714 		DEVELOPMENT UK 407,882 22,087 DUKE UNIVERSITY
 
(2) WASHINGTON DUKE INN LLC
2200 W MAIN STREET STE 300
DURHAM,NC27705
 HOTEL OWNERSHIP NC 4,231,735 36,546,082 DUKE UNIVERSITY
 
(3) DUKE FACULTY CLUB LLC
310 BLACKWELL STREET 4TH FLOOR
DURHAM,NC27701
 RECREATION FACILITY NC 0 1,832,675 DUKE UNIVERSITY
 






Part II
Identification of Related Tax-Exempt Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.
(a)
Name, address, and EIN of related organization


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Exempt Code section


 		(e)
Public charity status
(if section 501(c)(3))

 		(f)
Direct controlling
entity

 		(g)
Section 512(b)(13) controlled entity?
Yes No
(1)ANGIER B DUKE MEMORIAL INC
100 NORTH TRYON STREET

CHARLOTTE,NC28202
13-6113895 		SCHOLARSHIPS NC 501(C)(3) 12 TYPE III-O DUKE ENDOWMENT
 
 
No
(2)ASSOCIATED HEALTH SVCS INC
2200 W MAIN STREET STE 300

DURHAM,NC27705
56-1845329 		HEALTHCARE NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY HEALTH SYSTEM INC
 
Yes
 
(3)ATLANTIC COAST CONFERENCE
PO DRAWER ACC

GREENSBORO,NC27417
56-0599082 		ATHLETIC NC 501(C)(3) 12 TYPE 1 N/A
 
No
(4)C A CANNON CHAR TRUST NO 3
1525 W WT HARRIS BLVD D1114

CHARLOTTE,NC28288
58-1360259 		SUPPORT NC 501(C)(3) 12 TYPE III-O N/A
 
No
(5)DAVID H MURDOCK RESEARCH INSTITUTE
150 RESEARCH CAMPUS DR

KANNAPOLIS,NC28081
20-8730759 		RESEARCH NC 501(C)(3) 12 TYPE 1 N/A
 
No
(6)DU SPECIAL VENTURES FUND INC
280 S MANGUM STREET STE 210

DURHAM,NC27701
56-1465177 		INVESTMENTS NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY
 
Yes
 
(7)DUKE CORPORATE EDUCATION
310 BLACKWELL ST

DURHAM,NC27701
42-1672476 		EDUCATION NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY
 
Yes
 
(8)DUKE GIFT PROPERTIES INC
2200 W MAIN STREET STE 300

DURHAM,NC27705
57-1211078 		SUPPORT NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY
 
Yes
 
(9)DUKE GLOBAL INC
2200 W MAIN STREET STE 300

DURHAM,NC27705
61-1588319 		SUPPORT NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY
 
Yes
 
(10)DUKE MEDICINE GLOBAL SUPP CORP- 61-1593721
2200 W MAIN STREET STE 300

DURHAM,NC27705
 SUPPORT NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY
 
Yes
 
(11)DUKE SCHOLARLY EXHIBITS INC
2200 W MAIN STREET STE 300

DURHAM,NC27705
56-1701245 		SUPPORT NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY
 
Yes
 
(12)DUKE UNIV AFFILIATED PHYSICIANS
2200 W MAIN STREET STE 300

DURHAM,NC27705
56-1902501 		HEALTHCARE NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY HEALTH SYSTEM INC
 
Yes
 
(13)DUKE UNIV PHILANTHROPIES INC
2200 W MAIN STREET STE 300

DURHAM,NC27705
57-1211099 		SUPPORT NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY
 
Yes
 
(14)DUKE UNIVERSITY HEALTH SYSTEM INC
2200 W MAIN STREET STE 300

DURHAM,NC27705
56-2070036 		HEALTHCARE NC 501(C)(3) LINE 3 DUKE UNIVERSITY
 
Yes
 
(15)DUMAC INC
280 S MANGUM STREET STE 210

DURHAM,NC27701
90-0754895 		SUPPORT NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY
 
Yes
 
(16)DURHAM ASSET MGMT COMPANY INC
2200 W MAIN STREET STE 300

DURHAM,NC27705
56-1757238 		SUPPORT NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY
 
Yes
 
(17)GOTHIC CORPORATION
280 S MANGUM STREET STE 210

DURHAM,NC27701
56-1776668 		INVESTMENTS NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY
 
Yes
 
(18)GOTHIC HSP CORPORATION
280 S MANGUM STREET STE 210

DURHAM,NC27701
27-1325761 		INVESTMENTS NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY HEALTH SYSTEM INC
 
Yes
 
(19)INNOVATIONS IN HEALTHCARE INC
2200 W MAIN STREET STE 300

DURHAM,NC27705
32-0358709 		SUPPORT NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY
 
Yes
 
(20)KATHRINE R EVERETT CHARITABLE
PO BOX 3001

DURHAM,NC27715
56-6473809 		SUPPORT NC 501(C)(3) 12 TYPE 1 N/A
 
No
(21)NANALINE H DUKE TRUST
100 NORTH TRYON STREET

CHARLOTTE,NC28202
23-7270511 		MED. SUPPORT NY 501(C)(3) 12 TYPE III-O DUKE ENDOWMENT
 
 
No
(22)RESEARCH TRIANGLE INSTITUTE
PO BOX 12194

RTP,NC27709
56-0686338 		RESEARCH NC 501(C)(3) 12 TYPE III-O N/A
 
No
(23)RUTH K BROAD BIOMED RES FDN
2200 W MAIN STREET STE 300

DURHAM,NC27705
65-0045051 		SUPPORT NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY
 
Yes
 
(24)SMITHSHAVER LAW SCHOOL SCHOLARSHIP FUND
ONE WEST FOURTH ST STE 1200

WINSTONSALEM,NC27101
20-2749954 		SCHOLARSHIPS NC 501(C)(3) 12 TYPE 1 N/A
 
No
(25)DUKE INTEGRATED NETWORK INC
2200 W MAIN STREET STE 300

DURHAM,NC27705
46-3129771 		SUPPORT NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY HEALTH SYSTEM INC
 
Yes
 
(26)DUKE QUALITY NETWORK INC
2200 W MAIN STREET STE 300

DURHAM,NC27705
46-1340679 		SUPPORT NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY HEALTH SYSTEM INC
 
Yes
 
(27)DUKE JANJUN SERVICES INC
2200 W MAIN STREET STE 300

DURHAM,NC27705
47-1150667 		SUPPORT NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY
 
Yes
 
(28)DUKE JULDEC SERVICES INC
2200 W MAIN STREET STE 300

DURHAM,NC27705
47-1143245 		SUPPORT NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY
 
Yes
 
(29)DUKE ALLMO SERVICES INC
2200 W MAIN STREET STE 300

DURHAM,NC27705
47-1133466 		SUPPORT NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY
 
Yes
 
(30)DUKE AFFILIATIONS NETWORK INC
2200 W MAIN STREET STE 300

DURHAM,NC27705
81-2623775 		SUPPORT NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY HEALTH SYSTEM INC
 
Yes
 
(31)DUKE UNIV FED CRED UNION
2200 WEST MAIN STREET

DURHAM,NC27705
56-1632379 		BANKING NC 501(C)(1)   N/A
 
No
(32)WATTS COLLEGE OF NURSING INC
2200 W MAIN STREET STE 300

DURHAM,NC27705
83-3076664 		SUPPORT NC 501(C)(3) 12 TYPE 1 DUKE UNIVERSITY HEALTH SYSTEM INC
 
Yes
 
(33)DUKE HEALTH INTEGRATED PRACTICE INC
2200 W MAIN STREET STE 300

DURHAM,NC27705
86-2109896 		HEALTHCARE NC 501(C)(3) LINE 3 DUKE UNIVERSITY HEALTH SYSTEM INC
 
Yes
 
(34)DONALD R WATSON FOUNDATION INC
601 SOUTH COLLEGE ROAD

WILMINGTON,NC28403
56-1861816 		SUPPORT NC 501(C)(3) 12 TYPE 1 N/A
 
No
(35)FAMILY HEALTH MINISTRIES INC
PO BOX 16783

CHAPEL HILL,NC27516
56-2206165 		HEALTH CLINICS NC 501(C)(3) LINE 10 DUKE UNIVERSITY
 
Yes
 
(36)LENOX BAKER CHILDREN'S HOSPITAL FOUNDATION INC
1513 TYONEK DRIVE

DURHAM,NC27703
56-1550944 		FINANCIAL SUPPORT NC 501(C)(3) LINE 4 DUKE UNIVERSITY HEALTH SYSTEM INC
 
Yes
 
(37)DUKE HEALTH LAKE NORMAN REGIONAL MEDICAL CENTER INC
2200 W MAIN STREET STE 300

DURHAM,NC27705
33-2476324 		HEALTHCARE NC 501(C)(3) LINE 3 DUKE UNIVERSITY HEALTH SYSTEM INC
 
Yes
 
(38)FACULTY CLUB OF DUKE UNIVERSITY INC
2200 W MAIN STREET STE 300

DURHAM,NC27705
51-0168730 		RECREATIONAL NC 501(C)(4)   DUKE UNIVERSITY
 
Yes
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) (Rev. 1-2025)
Schedule R (Form 990) (Rev. 1-2025)
Page 2
Part III
Identification of Related Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, because it had one or more related organizations treated as a partnership during the tax year.
(a)
Name, address, and EIN of
related organization



 		(b)
Primary activity




 		(c)
Legal
domicile
(state or foreign
country)


 		(d)
Direct controlling
entity



 		(e)
Predominant income(related, unrelated, excluded from tax under sections 512-514)

(f)
Share of total income




 		(g)
Share of end-of-year
assets



 		(h)
Disproprtionate allocations?




 		(i)
Code V-UBI
amount in box 20 of
Schedule K-1
(Form 1065)
 		(j)
General or
managing
partner?



 		(k)
Percentage
ownership
Yes No Yes No
(1) BLACKWELL PARTNERS LLC - SERIES A - 20-8075455

280 S MANGUM ST STE 210
DURHAM,NC27701
 INVESTMENTS DE N/A
 N/A       No     No  
(2) RALLYDAY LF CO-INVESTORS LP

250 FILLMORE ST STE 225
DENVER,CO80206
93-2940647 		INVESTMENTS DE N/A
 N/A       No     No  
(3) MANGUM III LLC - SERIES A

280 S MANGUM STREET STE 210
DURHAM,NC27701
92-3592240 		INVESTMENTS DE N/A
 N/A       No     No  
(4) MANGUM III LLC

280 S MANGUM STREET STE 210
DURHAM,NC27701
92-3565585 		INVESTMENTS DE N/A
 N/A       No     No  
(5) CPF HEARTBEAT HEALTH INV A LLC

980 N MICHIGAN AVENUE SUITE 1998
CHICAGO,IL60611
88-1279232 		INVESTMENTS DE N/A
 N/A       No     No  
(6) MANGUM LLC

280 S MANGUM STREET STE 210
DURHAM,NC27701
46-1275587 		INVESTMENTS NC N/A
 N/A       No     No  
(7) STRATUS SCP III INVESTORS - GAMMA LP

50 LOTHIAN ROAD FESTIVAL SQUARE
EDINBURGH   EH39WJ
UK
INVESTMENTS UK N/A
 N/A       No     No  
(8) ENIAC SPECIAL DELTA LLC

604 MISSION STREET 10TH FL
SAN FRANCISCO,CA94105
84-2355221 		INVESTMENTS DE N/A
 N/A       No     No  
(9) WELLINGTON TRUST CO NA - CTF OPP FIXED INC ALLOC II POR

280 CONGRESS STREET
BOSTON,MA02210
83-1264831 		INVESTMENTS DE N/A
 N/A       No     No  
(10) BEP LEGACY 1C LLC

1001 FANNIN ST STE 800
HOUSTON,TX77002
27-3871932 		INVESTMENTS DE N/A
 N/A       No     No  
(11) DWELLWORKS CO-INVESTMENT LLC

7 TIMES SQUARE STE 4307
NEW YORK,NY10036
83-2165945 		INVESTMENTS DE N/A
 N/A       No     No  
(12) DUKE TRIANGLE ENDOSCOPY CENTER LLC

1A BURTON HILLS BLVD
NASHVILLE,TN37215
20-4257024 		HEALTHCARE NC N/A
 N/A       No     No  
(13) WASHINGTON GOTHIC LP

593 WASHINGTON STREET
WELLESLEY,MA02482
83-4516893 		INVESTMENTS DE N/A
 N/A       No     No  
(14) CPF TRIAS INVESTMENT II LLC

980 N MICHIGAN AVENUE SUITE 1998
CHICAGO,IL60611
87-4204000 		INVESTMENTS DE N/A
 N/A       No     No  
(15) LYRICAL-BLUE 100 KINGSHIGHWAY PARTNERS LP

32 N DEAN ST
ENGLEWOOD,NJ07631
82-3708328 		INVESTMENTS DE N/A
 N/A       No     No  
(16) BLACKWELL PARTNERS LLC - SERIES E - 81-1511048

280 S MANGUM ST STE 210
DURHAM,NC27701
 INVESTMENTS DE N/A
 N/A       No     No  
(17) BLACKWELL PARTNERS LLC - SERIES D - 81-3385353

280 S MANGUM ST STE 210
DURHAM,NC27701
 INVESTMENTS DE N/A
 N/A       No     No  
(18) BLACKWELL PARTNERS LLC - SERIES B - 47-2530719

280 S MANGUM ST STE 210
DURHAM,NC27701
 INVESTMENTS DE N/A
 N/A       No     No  
(19) ALTOS HYBRID D LLC - 47-3996176

2882 SAND HILL ROAD SUITE 100
MENLO PARK,CA94025
 INVESTMENTS DE N/A
 N/A       No     No  
(20) STRATUS SCP II INVESTORS - C LP

50 LOTHIAN ROAD FESTIVAL SQUARE
EDINBURGH   EH3 9WJ
UK
INVESTMENTS UK N/A
 N/A       No     No  
(21) BLACKWELL PARTNERS LLC - SERIES C - 81-1264533

280 S MANGUM ST STE 210
DURHAM,NC27701
 INVESTMENTS DE N/A
 N/A       No     No  
(22) LYRICAL BLUE RL PT IV 47-1542108

32 N DEAN ST
ENGLEWOOD,NJ07631
 INVESTMENTS DE N/A
 N/A       No     No  
(23) DILWEG BLUE PF LP 47-1225569

5310 S ALSTON AVE STE 210
DURHAM,NC27713
 INVESTMENTS DE N/A
 N/A       No     No  
(24) LS INVESTOR LLC 20-3891381

310 BLACKWELL ST
DURHAM,NC27701
 REAL ESTATE NC N/A
 N/A       No     No  
(25) MANGUM II LLC - 46-5135858

280 S MANGUM STREET STE 210
DURHAM,NC27701
 INVESTMENTS NC N/A
 N/A       No     No  
(26) SBER LUCKY STRIKE 20-3891303

310 BLACKWELL ST
DURHAM,NC27701
 REAL ESTATE NC N/A
 N/A       No     No  
(27) LYRICAL BLUE RL PT 27-2994514

32 N DEAN ST
ENGLEWOOD,NJ07631
 INVESTMENTS DE N/A
 N/A       No     No  
(28) ALTOS HYBRID 2D LLC - 81-5176567

2882 SAND HILL ROAD SUITE 100
MENLO PARK,CA94025
 INVESTMENTS DE N/A
 N/A       No     No  
(29) MANGUM III LLC - SERIES E

280 S MANGUM STREET STE 210
DURHAM,NC27701
33-2777494 		INVESTMENTS DE N/A
 N/A       No     No  
Part IV
Identification of Related Organizations Taxable as a Corporation or Trust. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.
(a)
Name, address, and EIN of
related organization
 		(b)
Primary activity
 		(c)
Legal
domicile
(state or foreign
country)
 		(d)
Direct controlling
entity
 		(e)
Type of entity
(C corp, S corp,
or trust) 		(f)
Share of total income
 		(g)
Share of end-of-year
assets
 		(h)
Percentage
ownership
 		(i)
Section 512(b)(13) controlled entity?
Yes No
(1) DUKE CE LS INC

310 BLACKWELL STREET
DURHAM,NC27701
20-2004016 		REAL ESTATE NC N/A
 C         No
(2) DUKE CORPORATE EDUCATION LIM

165 FLEET STREET
LONDON   EC4A 2DY
UK
42-1672476 		EDU CONSULT UK N/A
 C         No
(3) DUKE CORPORATE EDUCATION RSA

GROUND FLOOR TWICKEHNHAM BLDG
BRYANSTON,JOHANNESBURG02021
SF
42-1672476 		CONSULTING SF N/A
 C         No
(4) DUKE GLOBAL CONSULTING (KUNSHAN)

1666 WEI CHEN NAN RD
KUNSHAN PR,KUNSHAN215300
CH
CONSULTING CH N/A
 C         No
(5) DUKE MEDICAL STRATEGIES INC

2200 WEST MAIN STREET STE 920
DURHAM,NC27705
56-1993799 		HEALTHCARE NC DUKE UNIVERSITY
  		C   69,344 100.000 % Yes  
(6) DUKE UNIVERSITY TOWER FUND

PO BOX 185
PITTSBURGH,PA152300185
56-6147362 		INVESTMENTS PA N/A
 T         No
(7) DURHAM CASUALTY COMPANY LTD

AON HOUSE 30 WOODBOURNE AVE
PEMBROKE   HM 08
BD
98-0113277 		INSURANCE BD N/A
 C         No
(8) GOTHIC INTERNATIONAL LTD

113 S CHURCH STREET QUEENSGATE HOU
GRAND CAYMAN   KY1-1108
CJ
INVESTMENTS CJ N/A
 C         No
(9) MARATHON BLUE CAYMAN FUND

89 NEXUS WAY PO BOX 31106
GRAND CAYMAN   KY1-1205
CJ
INVESTMENTS CJ N/A
 C         No
(10) GHI HOLDINGS MAURITIUS

9TH FL ORANGE TOWER CYBERCITY
EBENE    
MP
INVESTMENTS MP N/A
 C         No
(11) GHI ERP LTD

9TH FL ORANGE TOWER CYBERCITY
EBENE    
MP
INVESTMENTS MP N/A
 C         No
(12) GHI HSP LTD

9TH FL ORANGE TOWER CYBERCITY
EBENE    
MP
INVESTMENTS MP N/A
 C         No
(13) GHI JBD LTD

9TH FL ORANGE TOWER CYBERCITY
EBENE    
MP
INVESTMENTS MP N/A
 C         No
(14) GHI LTP LTD

9TH FL ORANGE TOWER CYBERCITY
EBENE    
MP
INVESTMENTS MP N/A
 C         No
(15) DUKE CE (SEA) PRIVATE LIMITED

1 RAFFLES PLACE TOWER 2
SINGAPORE   048616
SN
SUPPORT SN N/A
 C         No
(16) MCP PRIVATE CAPITAL (FEEDER) FUND I LP

6 RUE GABRIEL LIPPMANN
LUXEMBOURG   L-5365
LU
INVESTMENTS LU N/A
 C         No
(17) DUKE INDIA SERVICES PRIVATE LIMITED

302 PRIDE ELITE 10 MUSEUM ROAD
BANGALORE,KARNATAKA560001
IN
MEDICAL RESEARCH IN N/A
 C         No
(18) HEALTH SYSTEM MEDICAL STRATEGIES INC

2200 W MAIN STREET STE 300
DURHAM,NC27705
56-2222444 		HEALTHCARE NC DUHS INC
  		C       Yes  
(19) DUKE GLOBAL GERMANY GMBH

ESCHERSHEIMER LANDSTR 14
FRANKFURT   60322
GM
EDUCATION GM N/A
 C         No
(20) DUKE CORP EDU INDIA PRIVATE

ACADEMIC BLOCK NEW CAMPUS
VASTRAPUR,AHMEDABAD380015
IN
42-1672476 		CONSULTING IN N/A
 C         No
Schedule R (Form 990) (Rev. 1-2025)
Schedule R (Form 990) (Rev. 1-2025)
Page 3
Part V
Transactions With Related Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.
Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.
Yes
No
1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?
a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity .....................
1a
 
No
b Gift, grant, or capital contribution to related organization(s) ............................
1b
Yes
 
c Gift, grant, or capital contribution from related organization(s) ............................
1c
Yes
 
d Loans or loan guarantees to or for related organization(s) ............................
1d
Yes
 
e Loans or loan guarantees by related organization(s) ............................
1e
 
No
f Dividends from related organization(s) ............................
1f
 
No
g Sale of assets to related organization(s) ............................
1g
 
No
h Purchase of assets from related organization(s) ............................
1h
 
No
i Exchange of assets with related organization(s) ............................
1i
 
No
j Lease of facilities, equipment, or other assets to related organization(s) .......................
1j
 
No
k Lease of facilities, equipment, or other assets from related organization(s) ......................
1k
 
No
l Performance of services or membership or fundraising solicitations for related organization(s) .....................
1l
Yes
 
m Performance of services or membership or fundraising solicitations by related organization(s) .................
1m
 
No
n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) ...................
1n
 
No
o Sharing of paid employees with related organization(s) ............................
1o
 
No
p Reimbursement paid to related organization(s) for expenses ............................
1p
 
No
q Reimbursement paid by related organization(s) for expenses ............................
1q
 
No
r Other transfer of cash or property to related organization(s) ............................
1r
Yes
 
s Other transfer of cash or property from related organization(s) ............................
1s
Yes
 
2
If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.
(a)
Name of related organization 		(b)
Transaction
type (a-s) 		(c)
Amount involved 		(d)
Method of determining amount involved
(1) DURHAM ASSET MANAGEMENT COMPANY

 C 78,655 FMV
(2) DURHAM ASSET MANAGEMENT COMPANY

 B 1,631,896 FMV
(3) DUKE GLOBAL INC

 B 1,474,391 FMV
(4) DUKE GLOBAL INC

 C 2,038,881 FMV
(5) DUKE MEDICINE GLOBAL SUPPORT CORPORATION

 B 206,881 FMV
(6) RUTH K BROAD BIOMEDICAL RESEARCH FOUNDATION

 C 763,400 FMV
(7) GOTHIC CORPORATION

 R 1,706,716,730 FMV
(8) GOTHIC CORPORATION

 S 1,963,772,469 FMV
(9) DUKE UNIVERSITY HEALTH SYSTEM INC

 S 275,725,549 FMV
(10) DUMAC INC

 R 21,885,434 FMV
(11) DUKE SCHOLARLY EXHIBITS INC

 B 122,000 FMV
(12) INNOVATIONS IN HEALTHCARE INC

 B 260,713 FMV
(13) DUKE GIFT PROPERTIES INC

 C 41,822,765 FMV
Schedule R (Form 990) (Rev. 1-2025)
Schedule R (Form 990) (Rev. 1-2025)
Page 4
Part VI
Unrelated Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 37.
Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.
(a)
Name, address, and EIN of entity 		(b)
Primary activity 		(c)
Legal domicile
(state or foreign
country) 		(d)
Predominant income (related, unrelated, excluded from tax under sections 512-514)

(e)
Are all partners
section
501(c)(3)
organizations? 		(f)
Share of total income




 		(g)
Share of
end-of-year
assets 		(h)
Disproprtionate allocations? 		(i)
Code V-UBI
amount in box 20
of Schedule K-1
(Form 1065) 		(j)
General or
managing
partner? 		(k)
Percentage
ownership
Yes No Yes No Yes No






























Schedule R (Form 990) (Rev. 1-2025)
Schedule R (Form 990) (Rev. 1-2025)
Page 5
Part VII
Supplemental Information
Provide additional information for responses to questions on Schedule R. See instructions.
Return Reference Explanation
Schedule R (Form 990) (Rev. 1-2025)

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