ANGIER B DUKE MEMORIAL INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1925

Legal Domicile

Principal Officer

KAREN H ROGERS

Phone

7043760291

Tax Period

2024-01-01 to 2024-12-31

ANGIER B DUKE MEMORIAL INC, founded in 1925, is a community nonprofit in the Unknown sector that reported $2.0M in total revenue in fiscal year 2024. Revenue surged 31% from the prior year, signaling strong growth momentum. The organization ran a surplus of $420K, a strong 21% operating margin.

Mission

TO DEVELOP SCHOLARSHIPS AND TO PROMOTE AND FURTHER THE ARTS, SCIENCES, AND PROFESSIONS AT DUKE UNIVERSITY AND FOR THAT PURPOSE TO ESTABLISH SCHOLARSHIPS AND TO ASSIST WORTHY STUDENTS AT THE UNIVERSITY.

Program Service Accomplishments

Program 1

Expenses: $1,500,000

THE ANGIER B. DUKE MEMORIAL, INC. IS A NONPROFIT MEMBERSHIP CORPORATION ESTABLISHED IN 1925 TO DEVELOP SCHOLARSHIPS AND TO PROMOTE AND FURTHER THE ARTS, SCIENCES, AND PROFESSIONS AND TO ASSIST WORTHY STUDENTS. THE MEMORIAL LIMITS ITS ASSISTANCE FOR THESE PURPOSES TO DUKE UNIVERSITY. AT DUKE, THE MEMORIAL CONTRIBUTES TO THE ANGIER B. DUKE MEMORIAL SCHOLARSHIP PROGRAM OF DUKE UNIVERSITY WHICH AWARDS SCHOLARSHIPS TO INDIVIDUALS WITH DEMONSTRATED ACADEMIC AND PERSONAL ACHIEVEMENT AND OUTSTANDING PROMISE OF SUCCESS IN THEIR CHOSEN FIELDS. AWARDS CONSIST OF FULL TUITION; SIX WEEKS OF SUMMER STUDY AT NEW COLLEGE, OXFORD; THE OPTION OF TWO SEMESTERS OF STUDY ABROAD OR ELSEWHERE IN THE U.S.; AND IN SOME CASES ADDITIONAL FINANCIAL ASSISTANCE, IF THERE IS DEMONSTRATED NEED.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $1,985,881

Other Revenue $0

TOTAL REVENUE $1,985,881

Expense Breakdown

Grants Paid $1,500,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,500,000

Other Expenses $65,859

TOTAL EXPENSES $1,565,859

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,985,881	$1,516,394	+0.3%
Expenses	$1,565,859	$1,566,890	0.0%
Net Income	$420,022	$-50,496	-9.3%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$3,247,404

Total Directors

$2,956,602

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHARLES C LUCAS III	CHAIR	0.50	Officer Director	$0	$5,725	$201,457
PAMELA L DAVIES	TRUSTEE	0.50	Director	$0	$5,724	$201,456
JUDY WOODRUFF	TRUSTEE	0.50	Director	$0	$5,725	$201,457
CLARENCE G NEWSOME	TRUSTEE	0.50	Director	$0	$5,725	$201,457
J TRENT JONES	TRUSTEE	0.50	Director	$0	$5,724	$201,456
CONSTANCE F GRAY	TRUSTEE (RETIRED ON 12/31/2024)	0.50	Director	$0	$5,724	$201,456
JOHN FAV CECIL	TRUSTEE	0.50	Director	$0	$5,724	$201,456
RAVENEL B CURRY III	TRUSTEE	0.50	Director	$0	$5,724	$201,456
HARRIS E DELOACH JR	TRUSTEE	0.50	Director	$0	$5,724	$201,456
MINOR M SHAW	TRUSTEE	0.50	Director	$0	$5,725	$201,457
WILLIAM BARNET III	TRUSTEE	0.50	Director	$0	$5,724	$201,456
ALLYSON K DUNCAN	TRUSTEE	0.50	Director	$0	$5,724	$201,456
CAMMIE R HAUPTFUHRER	TRUSTEE (ELECTED ON 10/8/2024)	0.50	Director	$0	$0	$48,933
KENNETH D WEEKS JR	TRUSTEE (RETIRED ON 5/31/2024)	0.50	Director	$0	$5,725	$87,280
JEAN G SPAULDING	VICE CHAIR	0.50	Officer Director	$0	$5,725	$201,457
DENNIS M CAMPBELL	VICE CHAIR	0.50	Officer Director	$0	$5,724	$201,456
KAREN H ROGERS	CFO, TREASURER & SECRETARY	0.25	Officer	$0	$100,740	$518,306
RHETT N MABRY	PRESIDENT	0.25	Officer	$0	$401,136	$1,132,380
SUSAN L MCCONNELL	VP & DIR. OF HR	0.50	Officer	$0	$80,842	$494,853
WILLIAM F BACON	VP & DIRECTOR OF EVALUATION	0.25	Officer	$0	$88,714	$497,495
PHILLIP REDMOND JR	DIR. OF CHILD & FAMILY WELL-BEING	0.25	Highest	$0	$59,252	$408,783
LINWOOD HOLLOWELL	DIRECTOR OF HEALTH CARE	0.25	Highest	$0	$76,823	$424,176
K TODD WALKER	DIRECTOR OF INVESTMENTS	0.50	Highest	$0	$92,366	$501,626
ROBERT WEBB	DIRECTOR OF RURAL CHURCH	0.25	Highest	$0	$63,327	$409,413
MEKA S SALES	DIRECTOR OF SI	0.25	Highest	$0	$81,321	$414,798

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$1,985,881	$1,565,859	$41,932,115	$420,022
2023	$1,516,394	$1,566,890	$41,154,055	$-50,496
2022	$1,558,800	$1,052,642	$42,735,438	$506,158
2021	$1,388,830	$1,065,425	$45,912,726	$323,405
2020	$1,363,973	$528,074	$32,849,007	$835,899
2019	$1,378,446	$904,859	$30,832,439	$473,587
2018	$1,264,437	$1,058,231	$28,453,800	$206,206