ANGIER B DUKE MEMORIAL INC

EIN: 136113895 501(c)(3) Unknown

CHARLOTTE, NC

Total Revenue
$1,985,881
Total Expenses
$1,565,859
Total Assets
$41,932,115
Net Assets
$41,932,115
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1925
Legal Domicile
NC
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 (SEE SCHEDULE O)PROFESSIONS AT DUKE UNIVERSITY AND FOR THAT PURPOSE TO ESTABLISH SCHOLARSHIPS AND TO ASSIST WORTHY STUDENTS AT THE UNIVERSITY.

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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%)

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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

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Liquidity & Cash Position

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Governance

Voting Members
15
Independent Members
15
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
7
$3,247,404
Total Directors
16
$2,956,602
Key Employees
0
$0
Highest Compensated
5
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
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