Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1939.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
90 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
57 people listed on the 990; $32.3M paid to officers and key staff.
Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Chief Investment Officer
$4,885,718Pt VII · Sec A
Coach
$4,171,974Pt VII · Sec A
Professor
$2,935,454Pt VII · Sec A
Coach
$2,764,179Pt VII · Sec A
President/Trustee
$2,137,417Pt VII · Sec A
Investment Manager
$1,925,902Pt VII · Sec A
Investment Manager
$1,921,010Pt VII · Sec A
Investment Manager
$1,614,964Pt VII · Sec A
EVP for Health Affairs & Dean of Som
$1,522,644Pt VII · Sec A
Executive Vice President
$1,464,086Pt VII · Sec A
Provost
$1,081,866Pt VII · Sec A
Exec Vice Dean of Admin, Som
$987,123Pt VII · Sec A
Dean, College of a & S
$729,880Pt VII · Sec A
Part Year VP & University Counsel
$702,209Pt VII · Sec A
Treasurer & VP of Finance
$670,285Pt VII · Sec A
Part Year VP & University Counsel
$610,592Pt VII · Sec A
Former Key Employee
$548,577Pt VII · Sec A
University Secretary
$521,815Pt VII · Sec A
VP for Facilities
$499,153Pt VII · Sec A
Physician
$432,127Pt VII · Sec A
Physician
$215,316Pt VII · Sec A
Trustee
$3,000Pt VII · Sec A
Trustee
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Neal F Triplett’s $4.9M as Chief Investment Officer is at the 96th percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Michael W Krzyzewski | — | — | $8,364,652 | $6,409,991 | $12,507,340 | $6,331,096 |
| Neal F Triplett | $4,885,718 | $4,539,339 | $4,191,717 | $2,842,965 | $3,354,282 | — |
| David N Cutcliffe | — | — | $4,334,560 | $2,907,206 | $2,809,635 | $2,848,237 |
| Manuel Diaz | $4,171,974 | — | — | — | — | — |
| Michael Elko | — | $3,816,742 | $3,843,212 | — | — | — |
| A Eugene Washington MD | — | $3,135,552 | $3,142,252 | $2,678,662 | $1,996,038 | $2,555,301 |
| Neal Triplett | — | — | — | — | — | $3,059,765 |
| Jennifer Francis | $2,935,454 | $980,832 | $944,968 | $739,504 | $676,144 | $613,759 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Provides superior liberal education, prepares future professionals, advances scientific research, and delivers healthcare services to promote global health and alleviate suffering.
Questions for Duke University
Your first name shows with your question. Duke University answers here, for everyone.
Provided by the organization
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3 programs · $3.9B · in their own filed words · FY2024
01
Duke university confers undergraduate, graduate, and professionaldegrees to approximately 6,818 students annually
$2.2Bprogram expense
02
Duke university engages in world-renowned research worksponsored by numerous federal, state, local agencies, and private grants
$1.2Bprogram expense
03
Duke university auxiliary enterprises provide supportservices to the duke university community
$448.0Mprogram expense
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
Schedule I · received and paid
Grants received · FY2025
Charles a Cannon Charitable Trust No 3FY2025$593K
The Luce-Fahey Family FoundationFY2025$500K
Child Trends IncorporatedFY2025$292K
Alexs Lemonade Stand FoundationFY2025$283K
Hispanic Scholarship FundFY2025$263K
The Ayco Charitable FoundationFY2025$247K
Tyler's Hope for Dystonia Cure INCFY2025$215K
Total grants receivedfrom 74 funders$5.4M
Grants paid · 648 grants · $2.0B · 2019–2024
Unitemized GrantFY2024$185,814,815
Unitemized GrantFY2024$141,665,354
Unitemized GrantFY2024$103,571,865
Unitemized GrantFY2024$37,812,717
Dana-Farber Cancer Institute INCMA · FY2024$344,591
The Pacific Pediatric Neuro-Oncolog Consortium FoundationCA · FY2024$328,453
Durham Technical Community CollegeFY2024$283,004
Mass General Brigham IncorporatedMA · FY2024$280,000
The Emily Krzyzewski Family LifeNC · FY2024$212,000
The Board of Trustees of the Leland Stanford Junior UniversityCA · FY2024$202,591
Habitat for Humanity of Durham INCNC · FY2024$165,000
Solar Freeze INCMD · FY2024$150,000
University of North Carolina at Chapel HillNC · FY2024$126,116
Research for a Stronger America INCDC · FY2024$105,000
Caring House INCNC · FY2024$103,000
Research Triangle Foundation of North CarolinaNC · FY2024$100,000
National Humanities CenterNC · FY2024$100,000
NC State UniversityFY2024$96,086
By the numbers
The FY2025 990, line by line.
Download 990
1The main four
Money inPt VIII
$4.8B
Ln 12
Gifts and grantsLn 1h$2.0B
Fees for servicesLn 2g$1.5B
Investment incomeLn 3$1.1B
Money outPt IX
$4.4B
Ln 25
Programscol B$3.9B
Managementcol C$343.0M
Fundraisingcol D$105.2M
Owns and owesPt X
$17.5B
net assets · Ln 32
Cash and savingsLn 1–2$237.8M
Total assetsLn 16$22.1B
LiabilitiesLn 26$4.6B
PeoplePt VI, VII
57
listed · VII A
PaidVII A22
Voting boardVI 1a37
IndependentVI 1b34
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.0B
Government grantsLn 1e$1.10B
Noncash giftsLn 1g$58.1M
Fundraising eventsLn 1c$3.3M
Fees for servicesLn 2g$1.5B
Investment incomeLn 3$1.1B
Other incomeLn 4–11$152.3M
Gains on assetsLn 7$773.4M
Total revenueLn 12$4.8B
Assets in detailPt X, end of year
SavingsLn 2$237.8M
Cash and savings togetherLn 1–2$237.8M
InvestmentsLn 11–13$16.58B
Land, buildings, equipmentLn 10c$2.49B
Other assetsLn 15$1.70B
Total assetsLn 16$22.1B
LiabilitiesLn 26$4.6B
Net assetsLn 32$17.5B
OperationsPt I, VI
EmployeesI 532,100
VolunteersI 615,837
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $225.6M | $237.8M |
| InvestmentsLn 11–13 | $15.58B | $16.58B |
| Land, buildings, equipmentLn 10c | $2.53B | $2.49B |
| Total assetsLn 16 | $21.16B | $22.13B |
| LiabilitiesLn 26 | $4.58B | $4.61B |
| Net assetsLn 32 | $16.58B | $17.52B |
4Every line
Statement of functional expensesPt IX · every line
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $36.7M | $36.7M | ||
| Grants to domestic individualsLn 2 | $469.1M | $469.1M | ||
| Grants and assistance to foreign recipientsLn 3 | $12.4M | $12.4M | ||
| Pay of current officers, directors and key staffLn 5 | $21.1M | $661K | $19.4M | $1.0M |
| Pay of disqualified personsLn 6 | $4.0M | $197K | $3.8M | |
| Other salaries and wagesLn 7 | $1.94B | $1.66B | $232.2M | $52.8M |
| Pension plan contributionsLn 8 | $129.9M | $110.1M | $16.2M | $3.5M |
| Other employee benefitsLn 9 | $220.6M | $189.3M | $23.5M | $7.8M |
| Payroll taxesLn 10 | $119.6M | $100.9M | $15.5M | $3.3M |
| Legal feesLn 11b | $15.8M | $3.8M | $12.0M | $18K |
| Accounting feesLn 11c | $798K | $46K | $752K | |
| Professional fundraising feesLn 11e | $2.5M | $2.5M | ||
| Investment management feesLn 11f | $39.0M | $39.0M | ||
| Other fees for servicesLn 11g | $222.6M | $150.2M | $63.9M | $8.5M |
| Advertising and promotionLn 12 | $8.0M | $5.6M | $1.3M | $1.1M |
| Office expensesLn 13 | $116.8M | $114.1M | $901K | $1.7M |
| Information technologyLn 14 | $47.8M | $21.5M | $24.8M | $1.5M |
| RoyaltiesLn 15 | $78.4M | $35.9M | $42.5M | |
| OccupancyLn 16 | $121.2M | $98.0M | $22.7M | $513K |
| TravelLn 17 | $55.0M | $49.5M | $2.7M | $2.8M |
| Conferences, conventions and meetingsLn 19 | $57.7M | $39.5M | $4.4M | $13.7M |
| InterestLn 20 | $85.6M | $85.5M | $13K | $23K |
| Depreciation, depletion and amortizationLn 22 | $267.8M | $254.0M | $13.8M | |
| InsuranceLn 23 | $9.9M | $4.9M | $4.9M | $7K |
| Other expenses (24a–d)Ln 24 | $345.6M | $340.0M | $3.4M | $2.2M |
| All other expensesLn 24e | −$82.4M | $120.2M | −$204.5M | $1.9M |
| Total functional expensesLn 25 | $4.35B | $3.90B | $343.0M | $105.2M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $4.8B | $4.4B | $404.3M | $17.5B | 990 PDF |
| FY2024 | $4.5B | $4.1B | $335.8M | $16.6B | 990 PDF |
| FY2023 | $3.7B | $3.8B | −$93.1M | $15.8B | 990 PDF |
| FY2022 | $4.6B | $3.6B | $980.1M | $16.2B | 990 PDF |
| FY2021 | $4.7B | $3.3B | $1.4B | $16.5B | 990 PDF |
| FY2020 | $3.2B | $3.4B | −$218.1M | $10.9B | 990 PDF |
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Schedules filed Part IV
III · Programs
I · Grants
R · Related orgs
G · Fundraising
L · Interested persons
A · Public support
F · Foreign
M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $4,754,345,666 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,974,843,265$1,975,474,083
I-9 Program service revenuePrior year $1,388,719,243$1,479,979,763
I-10 Investment incomePrior year $986,358,110$1,146,576,952
I-11 Other revenuePrior year $129,302,460$152,314,868
I-12 Total revenuePrior year $4,479,223,078$4,754,345,666
I-13 Grants and similar amounts paidPrior year $470,027,162$518,261,261
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,305,819,318$2,439,701,930
I-16a Professional fundraising feesPrior year $1,522,552$2,537,566
I-17 Other expensesPrior year $1,366,034,532$1,389,543,185
I-18 Total expensesPrior year $4,143,403,564$4,350,043,942
I-19 Revenue less expensesPrior year $335,819,514$404,301,724
Part VI · Governance 34 of 37 board members independent, 1 to look at
VI-1a Voting members of the governing body37
VI-1b Independent voting members34
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $4,754,345,666 across 14 lines filed
Lines not itemized here account for $112,906,656 of total revenue; see the IRS return.
VIII-1c Fundraising events$3,331,099
VIII-1d Related organizations$94,738,662
VIII-1e Government grants$1,096,468,780
VIII-1f All other contributions, gifts and grants$780,935,542
VIII-1g Noncash contributions (included above)$58,142,135
VIII-1h Total contributions, gifts and grants$1,975,474,083
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,371,743,227$1,371,743,227
VIII-3 Investment incomeExcluded from tax $373,172,657$373,172,657
VIII-5 RoyaltiesExcluded from tax $97,152,279$97,152,279
VIII-6 Net rental income or lossExcluded from tax $14,185,735$14,185,735
VIII-7 Net gain or loss on sales of assetsExcluded from tax $773,404,295$773,404,295
VIII-8 Net income from fundraising eventsExcluded from tax −$556,461−$556,461
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $36,863,195$36,863,195
VIII-12 Total revenueRelated to mission $1,514,568,113 · Unrelated business $6,944,965 · Excluded from tax $1,257,358,505$4,754,345,666
Part IX · Statement of functional expenses $4,350,043,942 across 26 lines filed
IX-1 Grants to domestic organizationsPrograms $36,704,929$36,704,929
IX-2 Grants to domestic individualsPrograms $469,123,131$469,123,131
IX-3 Grants and assistance to foreign recipientsPrograms $12,433,201$12,433,201
IX-5 Pay of current officers, directors and key staffPrograms $661,370 · Management $19,365,070 · Fundraising $1,027,632$21,054,072
IX-6 Pay of disqualified personsPrograms $196,921 · Management $3,798,807$3,995,728
IX-7 Other salaries and wagesPrograms $1,659,530,160 · Management $232,187,045 · Fundraising $52,841,565$1,944,558,770
IX-8 Pension plan contributionsPrograms $110,126,794 · Management $16,193,675 · Fundraising $3,545,991$129,866,460
IX-9 Other employee benefitsPrograms $189,338,919 · Management $23,461,829 · Fundraising $7,827,213$220,627,961
IX-10 Payroll taxesPrograms $100,871,775 · Management $15,456,481 · Fundraising $3,270,683$119,598,939
IX-11b Legal feesPrograms $3,766,476 · Management $12,026,900 · Fundraising $17,673$15,811,049
IX-11c Accounting feesPrograms $45,587 · Management $752,435$798,022
IX-11e Professional fundraising feesFundraising $2,537,566$2,537,566
IX-11f Investment management feesManagement $38,991,773$38,991,773
IX-11g Other fees for servicesPrograms $150,238,882 · Management $63,855,263 · Fundraising $8,549,832$222,643,977
IX-12 Advertising and promotionPrograms $5,564,527 · Management $1,323,324 · Fundraising $1,084,497$7,972,348
IX-13 Office expensesPrograms $114,124,132 · Management $900,653 · Fundraising $1,734,561$116,759,346
IX-14 Information technologyPrograms $21,520,474 · Management $24,787,717 · Fundraising $1,502,690$47,810,881
IX-15 RoyaltiesPrograms $35,879,874 · Management $42,517,314$78,397,188
IX-16 OccupancyPrograms $98,033,930 · Management $22,687,983 · Fundraising $512,690$121,234,603
IX-17 TravelPrograms $49,452,612 · Management $2,728,100 · Fundraising $2,806,238$54,986,950
IX-19 Conferences, conventions and meetingsPrograms $39,542,395 · Management $4,387,506 · Fundraising $13,728,705$57,658,606
IX-20 InterestPrograms $85,531,809 · Management $13,064 · Fundraising $23,224$85,568,097
IX-22 Depreciation, depletion and amortizationPrograms $254,044,080 · Management $13,765,408$267,809,488
IX-23 InsurancePrograms $4,934,783 · Management $4,925,394 · Fundraising $7,009$9,867,186
IX-24 Other expenses (24a–d)Programs $339,994,377 · Management $3,410,324 · Fundraising $2,231,074$345,635,775
IX-24e All other expensesPrograms $120,223,407 · Management −$204,530,935 · Fundraising $1,905,424−$82,402,104
IX-25 Total functional expensesPrograms $3,901,884,545 · Management $343,005,130 · Fundraising $105,154,267$4,350,043,942
Part X · Balance sheet $22,131,922,809 assets, 20 lines filed
Asset lines not itemized here account for $12,163,776; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $225,617,165$237,825,003
X-3 Pledges and grants receivableStart of year $591,242,544$591,281,708
X-4 Accounts receivableStart of year $201,061,330$168,965,830
X-8 Inventories for sale or useStart of year $22,709,615$20,392,234
X-9 Prepaid expenses and deferred chargesStart of year $270,638,346$333,788,600
X-10c Land, buildings and equipment, netStart of year $2,534,816,205$2,487,792,048
X-11 Publicly traded securitiesStart of year $3,952,381,281$3,604,627,700
X-12 Other securitiesStart of year $11,626,453,966$12,971,390,160
X-15 Other assetsStart of year $1,720,822,298$1,703,695,750
X-16 Total assetsStart of year $21,158,472,538$22,131,922,809
X-17 Accounts payable and accrued expensesStart of year $440,355,452$515,162,314
X-19 Deferred revenueStart of year $235,488,465$196,258,630
X-20 Tax-exempt bond liabilitiesStart of year $349,845,000$342,845,000
X-24 Unsecured notes and loans payableStart of year $2,235,136,104$2,234,586,232
X-25 Other liabilitiesStart of year $1,319,312,685$1,317,248,546
X-26 Total liabilitiesStart of year $4,582,462,353$4,608,079,402
X-27 Net assets without donor restrictionsStart of year $7,404,738,850$7,932,976,430
X-28 Net assets with donor restrictionsStart of year $9,171,271,335$9,590,866,977
X-32 Total net assets or fund balancesStart of year $16,576,010,185$17,523,843,407
X-33 Total liabilities and net assetsStart of year $21,158,472,538$22,131,922,809
Part XI · Reconciliation of net assets $17,523,843,407 net assets at year end
XI-1 Total revenue$4,754,345,666
XI-2 Total expenses$4,350,043,942
XI-3 Revenue less expenses$404,301,724
XI-4 Net assets at start of year$16,576,010,185
XI-5 Net unrealized gains (losses) on investments$168,836,071
XI-9 Other changes in net assets$374,695,427
XI-10 Net assets at end of year$17,523,843,407
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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