The Duke Endowment
Located in Charlotte, N.C., the Endowment seeks to fulfill the visionary genius and innovative legacy of James Buchanan Duke, one of the great industrialists and philanthropists of the 20th century. Mr. Duke established the Endowment in 1924 with $40 million. In 1925, it was expanded with an additional $67 million from his estate. Adjusted for present value, Mr. Duke's total gifts would amount to more than $1.3 billion today.
Governed by a board of trustees, Endowment staff conduct grantmaking according to guidelines in Mr. Duke's original Indenture of Trust (pdf), a legal document that remains relevant and timely after more than 80 years.