Duke University, Corporate Tax Department in Durham, North Carolina (NC)

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Duke University, Corporate Tax Department
Employer Identification Number (EIN)560532129
Name of OrganizationDuke University
Secondary NameCorporate Tax Department
Address324 Blackwell St Ste 850, Durham, NC 27701-3659
ActivitiesSchool, college, trade school, etc.
SubsectionEducational Organization
Ruling Date06/1939
DeductibilityContributions are deductible
FoundationSchool
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2012
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$10,201,759,923
Amount of Income$12,508,014,756
Form 990 Revenue Amount$2,398,201,906
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: University or Technological Institute


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Amount of income in 2012: $12,508,014,756
This organization: 

 $12,508,014,756
Other organizations performing similar types of work: 

 $133,214,976

Assets in 2012: $10,201,759,923
Duke University, Corporate Tax Department: 

 $10,201,759,923
Other organizations performing similar types of work: 

 $218,176,923

Expenses in 2007: $2,099,262,646
This organization: 

 $2,099,262,646
Other organizations performing similar types of work: 

 $87,050,269

Income to expenses ratio in 2007: 1.3
Duke University, Corporate Tax Department: 

 1.3
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2007: 91.3%
This organization: 

 91.3%
Other organizations performing similar types of work: 

 85.4%

Number of employees in 2007: 20,191
Duke University, Corporate Tax Department: 

 20,191
Other organizations performing similar types of work: 

 1,159

Employees paid over $50,000 in 2007: 30.9%
This organization: 

 30.9%
Other organizations performing similar types of work: 

 19.7%

Grants share in income in 2007: 44.5%
This organization: 

 44.5%
Other organizations performing similar types of work: 

 12.6%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$1,889,302,964$1,217,032,693$1,292,066,414$1,630,791,900$1,832,939,600$2,115,027,768$2,402,751,674$2,646,211,352
Contributions, gifts, grants, and similar amounts received$702,062,642$790,903,279$821,487,543$907,018,481$916,646,446$1,003,946,212$1,070,374,005$1,178,781,697
Contributions to donor advised funds$0$0
Direct public support$437,428,953$471,962,086$450,351,558$494,347,769$459,907,985$515,368,795$525,690,307$642,264,676
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$264,633,689$318,941,193$371,135,985$412,670,712$456,738,461$488,577,417$544,683,698$536,517,021
Program service revenue including government fees and contracts$294,290,291$282,374,333$281,467,459$349,112,274$496,212,065$545,420,484$597,539,792$702,113,213
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$0$0$0$0$0$0$0$0
Dividends and interest from securities$0$144,346,748$64,948,453$41,645,363$47,509,127$33,973,045$45,529,827$43,209,080
Net rental income or (loss)$0$0$0$5,131,810$3,675,688$6,767,079$6,776,978$111,693
Gross rents$0$0$0$5,131,810$3,675,688$6,767,079$6,776,978$6,982,007
Less: rental expenses$0$0$0$0$0$0$0$6,870,314
Other investment income$0$0$13,320,000$13,515,000$11,925,000$15,693,565$15,947,839$15,335,330
Gain or (loss) from sales of assets other than inventory$809,649,574$-101,729,625$-9,199,533$248,994,740$283,422,549$436,489,573$603,483,891$669,551,192
Gross amount from sales of assets other than inventory$811,850,447$2,071,854$1,100,145$252,104,129$7,062,121,411$5,823,619,402$7,719,906,818$24,929,839,656
Less: cost or other basis and sales expenses$2,200,873$103,801,479$10,299,678$3,109,389$6,778,698,862$5,387,129,829$7,116,422,927$24,260,288,464
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$28,557,274$41,155,723$42,662,689$37,922,913$50,675,231$50,910,043$35,895,524$0
Gross sales of inventory, less returns and allowances$62,777,839$61,973,724$61,176,269$60,937,597$69,345,208$75,866,530$58,032,887$0
Less: cost of goods sold$34,220,565$20,818,001$18,513,580$23,014,684$18,669,977$24,956,487$22,137,363$0
Other revenue$54,743,183$59,982,235$77,379,803$27,451,319$22,873,494$21,827,767$27,203,818$37,109,147
Total expenses$1,080,444,553$1,138,721,874$1,249,387,486$1,339,469,281$1,586,085,498$1,704,863,463$1,942,207,138$2,099,262,646
Program services$979,296,133$1,059,001,049$1,172,413,564$1,261,705,559$1,493,351,636$1,613,121,602$1,802,504,733$1,916,046,888
Management and general$78,092,686$58,399,896$53,114,400$53,711,121$72,791,196$68,306,330$114,413,740$157,698,383
Fundraising$23,055,734$21,320,929$23,859,522$24,052,601$19,942,666$23,435,531$25,288,665$25,517,375
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$4,437,479,246$4,330,687,283$4,471,507,025$5,082,821,511$5,733,742,392$6,816,376,748$8,333,408,916$8,631,642,139
Excess or (deficit) for the year$808,858,411$78,310,819$42,678,928$291,322,619$246,854,102$410,164,305$460,544,536$546,948,706
Net assets or fund balances at beginning of year$4,414,779,550$4,437,479,246$4,330,687,283$4,471,507,025$5,082,821,511$5,733,742,392$6,816,376,748$8,333,408,916
Other changes in net assets or fund balances$-786,158,715$-185,102,782$98,140,814$319,991,867$404,066,779$672,470,051$1,056,487,632$-248,715,483
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$2,099,262,646$1,916,046,888$157,698,383$25,517,375
Grants paid from donor advised funds$0
Other grants and allocations$178,408,071
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$9,708,392$5,211,265$3,943,416$553,711
Compensation of former officers, directors, key employees, etc.$1,871,795$762,843$1,108,952$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$651,038$478,742$153,291$19,005
Salaries and wages of employees not included above$821,399,057$708,400,712$102,580,597$10,417,748
Pension plan contributions not included above$190,185,675$161,952,388$25,467,746$2,765,541
Employee benefits not included above$0$0$0$0
Payroll taxes$111,222,314$95,651,190$14,458,901$1,112,223
Professional fundraising fees$0$0$0$0
Accounting fees$467,166$31,320$435,846$0
Legal fees$17,040,959$2,069,725$14,923,494$47,740
Supplies$119,871,977$78,509,324$41,022,070$340,583
Telephone$21,684,971$19,583,137$1,862,146$239,688
Postage and shipping$7,517,449$6,175,304$550,846$791,299
Occupancy$81,130,926$75,124,974$5,823,418$182,534
Equipment rental and maintenance$68,687,693$38,064,354$30,045,436$577,903
Printing and publications$14,459,820$10,656,238$2,683,043$1,120,539
Travel$49,820,810$46,785,483$1,918,951$1,116,376
Conferences, conventions, and meetings$24,646,214$17,346,790$4,334,613$2,964,811
Interest$52,268,486$39,671,650$12,596,836$0
Depreciation, depletion, etc.$160,922,909$148,043,256$10,617,803$2,261,850
Other expenses not covered above$167,296,924$283,120,122$-116,829,022$1,005,824
Balance Sheets
20002001200220032004200520062007
Total assets$5,549,710,448$5,481,450,840$5,651,526,347$6,195,051,243$7,113,264,072$8,272,063,482$10,010,016,198$10,763,892,411
Cash - non-interest-bearing$0$363,725,446$259,936,889$112,732,282$98,666,766$0$70,114,459$0
Savings and temporary cash investments$99,736,570$183,928,531$233,923,915$270,444,866$168,465,691$211,032,794$151,998,905$307,591,090
Accounts receivable less allowance for doubtful accounts$98,806,072$98,022,616$109,146,213$139,658,391$136,126,173$145,955,177$161,899,026$130,254,067
Pledges receivable less allowance for doubtful accounts$163,371,432$208,839,981$184,869,739$273,943,009$293,547,830$330,411,760$344,759,870$405,725,915
Grants receivable$0$0$0$0$0$0$0$63,310,145
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$142,524$38,348
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$42,592,060$41,244,630$41,132,591$41,059,941$39,092,560$37,758,341$38,787,522$43,242,764
Inventories for sale or use$10,485,024$11,658,745$11,278,502$10,338,796$12,500,622$16,479,507$17,735,570$17,147,140
Prepaid expenses and deferred charges$15,797,607$30,156,924$39,469,670$47,645,165$42,659,250$41,143,895$221,692,630$282,678,688
Investments - publicly-traded securities$6,682,485,669$7,083,923,180
Investments - other securities$3,251,601,715$3,081,672,122$3,221,522,773$3,618,193,898$4,245,291,941$5,269,844,134$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$728,007,671$853,094,146$951,503,917$1,114,886,181$1,304,530,129$1,453,020,281$1,568,402,026$1,648,755,428
Other assets, including program-related investments$1,139,312,297$609,107,699$598,742,138$566,148,714$772,383,110$766,417,593$751,997,997$781,225,646
Total liabilities$1,112,231,202$1,150,763,557$1,180,019,322$1,112,229,732$1,379,521,680$1,455,686,734$1,676,607,282$2,132,250,272
Accounts payable and accrued expenses$161,383,654$164,412,008$169,292,104$155,515,378$200,167,574$220,483,338$213,618,614$274,471,315
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$28,036,445$35,069,293$43,760,277$45,483,855$44,011,457$57,192,621$113,696,928$154,374,109
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$148,469,807$294,384,807$413,444,807$412,414,807$619,820,000$618,750,000$847,390,000$847,390,000
Mortgages and other notes payable$36,070,550$88,252,354$82,172,279$164,873,010$194,524,104$251,531,474$194,958,880$388,869,785
Other liabilities$738,270,746$568,645,095$471,349,855$333,942,682$320,998,545$307,729,301$306,942,860$467,145,063
Total liabilities and net assets/fund balances$5,549,710,448$5,481,450,840$5,651,526,347$6,195,051,243$7,113,264,072$8,272,063,482$10,010,016,198$10,763,892,411
Total net assets or fund balances$4,437,479,246$4,330,687,283$4,471,507,025$5,082,821,511$5,733,742,392$6,816,376,748$8,333,408,916$8,631,642,139
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$1,889,302,964$1,217,032,693$1,292,066,414$1,630,791,900$1,832,939,600$2,115,027,768$2,402,751,674$2,646,211,352
Total revenue, gains, and other support per audited financial statements$1,128,851,015$1,018,385,371$1,377,262,079$1,930,723,240$2,073,467,836$2,406,821,785$3,068,904,552$2,232,608,835
Other expenses$-760,451,949$-198,647,322$85,195,665$299,931,340$363,555,664$428,442,806$807,657,688$-266,974,004
Net unrealized gains on investments$-794,672,514$-219,465,323$66,682,085$276,916,656$344,885,687$403,486,319$785,520,325$-317,169,688
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$34,220,565$20,818,001$18,513,580$23,014,684$18,669,977$24,956,487$22,137,363$50,195,684
Other revenue$0$0$0$0$123,027,428$136,648,789$141,504,810$146,628,513
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$123,027,428$136,648,789$141,504,810$146,628,513
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$1,080,444,553$1,138,721,874$1,249,387,486$1,339,469,281$1,586,085,498$1,704,863,463$1,942,207,138$2,099,262,646
Total expenses and losses per audited financial statements$1,114,665,118$1,159,539,875$1,267,901,066$1,362,483,965$1,481,728,047$1,593,171,161$1,822,839,691$1,959,504,447
Other revenue$34,220,565$20,818,001$18,513,580$23,014,684$18,669,977$24,956,487$22,137,363$6,870,314
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$34,220,565$20,818,001$18,513,580$23,014,684$18,669,977$24,956,487$22,137,363$6,870,314
Other expenses$0$0$0$0$123,027,428$136,648,789$141,504,810$146,628,513
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$123,027,428$136,648,789$141,504,810$146,628,513
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$360,000$34,799$0
40$299,250$36,869$7,616
40$321,161$36,795$0
40$228,750$33,810$0
40$343,000$36,960$0
40$1,617,727$38,673$5,652
40$312,500$33,486$0
40$305,865$33,972$0
40$452,500$31,844$0
40$317,500$35,648$0
40$235,550$35,770$254
40$204,500$33,943$0
40$280,200$32,332$0
40$341,250$36,957$0
40$308,133$31,631$0
40$478,000$37,244$0
40$640,913$37,356$0
40$659,308$35,427$0
40$321,755$37,191$0
40$210,350$28,465$0
40$27,500$27,969$0
40$662,500$34,721$4,796
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings37
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?Yes
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?Yes
Does the organization have a written conflict of interest policy?Yes
Former Officers, Directors, Trustees, and Key Employees That Received Compensation or Other Benefits
Loans and AdvancesCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
$0$157,500$26,484$0
$0$1,960$4,988$0
$0$195,337$27,056$0
$0$284,443$6,356$0
$0$56,650$490$0
$0$31,528$4,988$0
$0$18,745$4,988$0
$0$44,075$8,509$0
$0$459,000$28,866$0
$0$214,037$30,663$0
$0$0$4,988$0
$0$0$2,883$0
$0$0$2,883$0
$0$0$4,988$0
$0$10,000$3,042$0
$0$210,000$26,348$0
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?Yes
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 200620,191
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$744,480,676$722,948,979
Program service revenue
Program service revenue 1000000$000$0$461,273,606
Program service revenue 2000000$000$0$94,870,838
Program service revenue 3000000$000$0$70,798,000
Program service revenue 4000000$000$0$57,401,493
Program service revenue 5000000$000$0$17,769,276
$0$0$461,273,606
$0$0$10,183,375
$0$0$70,798,000
$0$0$7,585,901
$0$0$94,870,838
$0$0$57,401,493
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$43,209,080$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$111,693$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$15,335,330$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$669,551,192$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Royalty income excluded by section 512(b)(2)$16,273,381$20,835,766
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
65131993974%$9,912,367$2,975,117
561993799100%$535,709$1,126,948
980555714100%$572,190$19,623
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$3,662,941$42,968$0
$982,968$35,394$0
$548,664$35,681$0
$498,878$24,102$3,985
$489,933$33,583$0
Total number of other employees paid over $50,0006,208
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$187,315
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isSchool
Support Schedule
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$2,707,061,859
Contributions, Gifts, Grants and Other Similar Amounts$1,297,436,773
Program Service Revenue$807,858,421
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$84,651,272
Income from investment of tax-exempt bond proceeds$31,584
Royalties$108,769,384
Net rental income$361,201
Gross rents (Real / Personal)$6,492,698 / $0
Less: rental expenses (Real / Personal)$6,131,497 / $0
Rental income or (loss) (Real / Personal)$361,201 / $0
Net gain from sales of assets other than inventory$384,297,805
Gross amount from sales of assets other than inventory (Securities / Other)$10,944,677,279 / $210,712
Less: cost or other basis and sales expenses (Securities / Other)$10,557,979,000 / $2,611,186
Gain or (loss) (Securities / Other)$386,698,279 / $-2,400,474
Net loss from fundraising events$-681,162
Gross income from fundraising events$873,139
Less: direct expenses$1,554,301
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$24,336,581
Statement of Functional Expenses (for 2011)
Total functional expenses$2,514,063,483
Compensation of current officers, directors, trustees, and key employees$10,822,918
Other salaries and wages$941,408,920
Payroll taxes$75,958,269
Professional fundraising services$0
Other$1,485,873,376
Balance Sheet (for 2011)
Total assets$10,394,643,684
Total liabilities$2,239,253,731
Tax-exempt bond liabilities$1,089,205,000
Secured mortgages and notes payable to unrelated third parties$6,351,000
Unsecured notes and loans payable to unrelated third parties$299,148,576
Other$844,549,155
Total net assets or fund balances$8,155,389,953
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:A school described in section 170(b)(1)(A)(ii)
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Massachusetts Institute Of Technology77 Massachusetts Avenue Ne 49-3131, Cambridge, MA 02139-4301MA1926-10$55,690,823,000
2Stanford University Board Of Trustees Of The Leland Stanford Ju3145 Porter Drive, Palo Alto, CA 94304-1234CA1996-10$17,637,194,550
3Duke University, Corporate Tax Department324 Blackwell St Ste 850, Durham, NC 27701-3659NC1939-06$12,508,014,756
4Cornell University, Cornell Piano SocietyWillard Straight Hall Mailbox 86, Ithaca, NY 14853NY1951-10$12,079,947,629
5Trustees Of Dartmouth College7 Lebanon St Ste 302, Hanover, NH 03755-2112NH1997-10$8,651,591,165
6John Hopkins University N4327b1101 E 33rd St Ste C020, Baltimore, MD 21218-3637MD1935-01$7,556,027,299
7Yale UniversityPO BOX 208228, New Haven, CT 06520-8228CT1992-10$7,434,338,871
8Trustees Of Columbia University In The City Of New York615 West 131st Street Mc 8741, New York, NY 10027NY1974-01$7,149,808,012
9Washington University700 Rosedale Avenue Box1000, Saint Louis, MO 63112-1408MO1933-08$6,941,948,712
10New York University105 E 17th Street - 4th Floor, New York, NY 10003-2170NY1985-01$4,733,235,095
11Chancellor Masters & Scholars Of The Univ Of Oxford2001 Evans Rd, Cary, NC 27513-2009NC1930-08$2,034,143,293
12Wake Forest UniversityPO BOX 7201, Winston Salem, NC 27109-6226NC2001-05$886,400,821
13Campbell University IncPO BOX 97, Buies Creek, NC 27506-0097NC1939-12$654,547,704
14Elon University314 W Haggard Ave, Elon, NC 27244-7664NC1939-05$221,360,131
15Wingate UniversityPO BOX 159, Wingate, NC 28174-0159NC1946-05$206,441,220
16Johnson C Smith University Incorporated100 Beatties Ford Rd, Charlotte, NC 28216-5302NC1945-02$131,764,222
17Queens University Of Charlotte1900 Selwyn Avenue, Charlotte, NC 28271NC1942-09$89,112,802
18Meredith College3800 Hillsborough St, Raleigh, NC 27607-5237NC1942-04$88,737,690
19Belmont Abbey College100 Belm Mnt Hly Rd, Belmont, NC 28012-2702NC1978-02$45,763,735
20Pfeiffer UniversityPO BOX 960, Misenheimer, NC 28109-0960NC1940-02$41,418,111
Number of organizations performing similar types of work
Alaska1
Alabama4
Arkansas1
Arizona2
California36
Colorado5
Connecticut9
District of Columbia6
Delaware2
Florida10
Georgia9
Hawaii2
Iowa7
Illinois19
Indiana6
Kansas4
Kentucky4
Louisiana4
Massachusetts20
Maryland7
Maine2
Michigan11
Minnesota5
Missouri9
Mississippi1
North Carolina11
North Dakota1
Nebraska2
New Hampshire4
New Jersey11
New York38
Ohio19
Oklahoma5
Oregon5
Pennsylvania28
Rhode Island3
South Carolina2
Tennessee6
Texas20
Utah1
Virginia11
Vermont3
Washington9
Wisconsin8
West Virginia2
International20
Total395

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