The Duke Endowment has announced gifts totaling $75 million in support of longtime grantees Davidson College, Furman University, and Johnson C. Smith University.

The announcement, which follows a November 2023 announcement of a $100 million gift to Duke University, is part of the foundation’s centennial celebration of its founding by James B. Duke, who created the endowment. In his Indenture of Trust, which established the endowment, Duke named the four higher education institutions as recipients.

The three institutions each will receive gifts of $25 million. Davidson College will allocate half of its gift to provide financial aid to students from the Carolinas, while the remaining half will be used to develop high-impact student experiences and establish two new professorships. Furman University will apply the funds to the Furman Advantage, an initiative that incorporates engaged learning, reflection, belonging, and mentoring. And Johnson C. Smith University will use its gift to implement the university’s strategic plan in coordination with Charlotte Mayor Vi Lyles’ Racial Equity Initiative.

“We are excited to launch our centennial year and celebrate the lasting legacy of James B. Duke and the Duke family,” said Duke Endowment board of trustees chair Charlie Lucas. “One of the cornerstones of the endowment’s enduring vision is its steadfast commitment to higher education. For the past 100 years, the endowment has partnered with the four schools named in Mr. Duke’s Indenture of Trust by supporting key priorities at each school as they work to advance high-value education for all students. The breadth of our funding includes supporting key institutional strategies and initiatives, student scholarships and financial aid, faculty recruitment and development, and capital building projects. We work alongside these schools to promote their long-term success so they may effectively serve their students and the Carolinas.”

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