The TBJ has posted an article on their website about Duke’s goal to increase their endowment. A couple quotes in the article from Bobby Purcell.
Coffman’s point is easily illustrated by Duke’s archrival just a few miles down U.S. 15-501. The University of North Carolina at Chapel Hill’s athletic scholarship endowment is worth about $117 million. Even so, officials at UNC’s booster organization, the Rams Club, aim to raise an additional $5.3 million this year.
While Duke may feel it has some catching up to do, its situation is much better than the one at North Carolina State University. NCSU has $16 million invested in its athletic scholarship endowment, although the school does have commitments for another $15 million in deferred gifts.
Bobby Purcell, executive director of the Wolfpack Club, says NCSU has focused its fundraising energies on improving facilities. Over the past five years, the university has spent $150 million on athletic facilities improvements for a number of sports, including football, basketball, tennis and baseball.
Once NCSU gets its facilities in order, Purcell says the school plans to shift gears and work on increasing its athletic scholarship endowment to $125 million – a process he expects to take 12 to 15 years.
Athletic endowments provide long-term stability and health for a program, says John Montgomery, executive director of the Rams Club.
