The Duke Endowment

Trust established in 1924 in NJ - Founded by James Buchanan Duke, who was the founder of the American Tobacco Company and Duke Energy. In the 1890s, American Tobacco had a monopoly on cigarettes in the American market. Duke provided an initial $40 million trust fund for the Endowment and at the time of his death in 1925 his will provided an additional $67 million. Mr. Duke also directed that a substantial amount of funds be used in developing Duke University (known at the time as Trinity College), with the stipulation that the school be renamed in honor of his father, Washington Duke.

Grants to nonprofit health care and child care institutions in NC and SC; rural United Methodist churches and its pastors in NC; and Duke, Furman, and Johnson C. Smith Universities, and Davidson College.