The Duke Endowment is a great asset to South Carolina

Recently, the Sisters of Charity Foundation of South Carolina hosted Gene Cochrane, President of the Charlotte based Duke Endowment. Named for James B. Duke, The Endowment was established from an Indenture of Trust with an initial gift of $40 million in 1924. In establishing The Duke Endowment, J.B. Duke built on the foundation of giving that had been established by his father, Washington, and carried on by his older brother, Ben.

Mr. Duke died unexpectedly in 1925 leaving the Endowment an additional $67 million. The original Indenture of Trust is read every year by the trustees and President of the Endowment and great care has been taken to closely align with the desires and vision of its author James B. Duke.

The Endowment has been a major supporter of organizations throughout South Carolina for 90 years.  With current assets of $3.2 billion, the Duke Endowment invested more than $21 million in South Carolina last year alone.

As in 1924, Duke’s main focus areas are Child Care, Health Care, Higher Education and Rural Churches; providing resources to organizations and institutions in North and South Carolina that offer effective and creative ways to make a difference for people. They have been involved in special programs around nurse family partnerships, Children’s advocacy, Free Medical Clinics, Orphanages, and a host of other projects.  Their efforts to promote health and nurture children have had a huge impact on many lives here in our state. We all owe a debt of gratitude to the Duke Endowment, not only for its investment of money but also for its commitment to changing the lives of individuals and families to be healthier and more self sufficient. And the Endowment, along with Mr. Cochrane and his entire staff, has done their work with grace and humility. This is a rare attribute in today’s world.

Duke is a great asset to South Carolina’s nonprofits, Universities, and Hospitals. We can only hope that the next 90 years will allow the Duke Endowment to continue its important investment in our state. Their presence is important to all of us and I am very thankful they are here.

Tom Keith
President, Sisters of Charity Foundation of South Carolina