Strong schools have endowments that serve two main functions: a portion of the income they produce supplements the school’s revenues and the endowment is available as a rainy day fund. Duke School’s endowment has grown in the last few years bringing with it the promise of increasing financial stability. Gifts to the endowment are held in perpetuity and invested by the school. The Finance Committee of the Board of Trustees, working with a professional financial manager, oversees how the endowment monies are invested. The following are some frequently asked questions about the endowment.
What is the size of the Duke School endowment?
As of June 30, 2019, Duke School's endowment is $6,272,204.
What is the purpose of having an endowment?
The endowment has the potential to be a stable source of income for Duke School for future generations.
Per the direction of our Finance Committee and our Board of Trustees, Duke School will not utilize the earnings from the endowment for operating expenses until the endowment has grown to the equivalent of one year's operating expenses.
Is the use of the endowment restricted in any way?
Yes, there are two endowments for specific purposes.
- Janet Clement Tuition Aid Endowment: The Janet Clement Tuition Aid Endowment was established by the Duke School Board of Trustees to honor the retirement of Janet Clement, the school's director from 1982-1999. The fund supports those families which pay less than the top tuition requirements.
- John Watson Moore Endowment: The John Watson Moore Endowment supports faculty summer travel for a trip that is professionally enriching. The fund was established in 1990 by John Wilson Moore and Ann E. Stuart, his wife, in honor of the late John Watson Moore. John Watson Moore believed that providing teachers with enrichment is the best way to engage and educate our students.
Gifts to the endowment can be made to the general endowment or to either of the specific purpose funds listed above. If you would like to discuss the possibility of supporting these funds or creating a new endowed fund, please contact the Development Office.