DURHAM, N.C. – Duke University has raised $16 million for an endowment it ultimately plans to use to establish the School of Public Policy.
The donations and pledges benefit the school’s Terry Sanford Institute for Public Policy, and Duke aims to raise a total of $65 million to bring about the transformation.
The endowment will include $40 million for faculty support and $25 million for scholarships, fellowships and other student support.
While plans for the new school do not envision increasing the Sanford Institute’s annual 280 graduates, the endowment will allow for more financial aid, greater variety in course offerings and a doubling of the faculty to 42.
The largest single gift to the school to date is $3 million from an anonymous donor to create the Center for Strategic Philanthropy and Civil Society.
Alumni Ralph and Lisa Eads of Houston donated $2.5 million to establish the Eads Family Scholarship Fund.
If successful, the School of Public Policy would be the university’s 10th school.