Throughout Durham Academy’s history, alumni, parents and friends have established named endowment funds to provide lasting support for scholarships, faculty development and academics. It is the Durham Academy Board of Trustees’ policy that unrestricted, named endowment funds may be established with a gift of $25,000 or more and restricted, named endowment funds may be established with a gift of $100,000 or more.
The Durham Academy endowment portfolio is invested with Eton Partners under the direction of the finance committee of the Board of Trustees. Between 2–4.5% of the previous 12-quarter rolling average of the endowment fund is spent each year in support of the operating fund. The spending rate is determined by calculating the real dollar return of the portfolio less inflation.
DA’s endowment, like endowments at most independent schools, is a collection of various restricted and unrestricted endowment and scholarship funds. As an aggregate, this fund generates annual income for DA that flows into the operation of the school and primarily supports faculty development, financial aid and facility maintenance.
- George Watts Hill Foundation
- T. Douglass Jones, Jr. Endowment Fund
- Sarah Graham Kenan Endowment Fund
- Frank Hawkins Kenan Medal
- Elizabeth Adams Old Senior Award
- Parents Association Endowment Fund
- Putman Family Endowment Fund
George Watts Hill established this foundation for the ongoing benefit of three organizations, including Durham Academy and The Hill Center. At his death in 1993, approximately $2 million was added to the foundation. The annual income from the foundation to Durham Academy is used for unrestricted operating expenses. The foundation is an irrevocable charitable trust managed by SunTrust.
This award was established in 1998 by Betty Kenan in memory of her husband, Frank Hawkins Kenan, a lifetime trustee of Durham Academy. The medal is presented annually to a member of the senior class who demonstrates leadership and outstanding achievement in academics, athletics and the fine arts. Interest income from this fund supports the operating needs of the school.
In 1980, the Old family established this award in honor of Elizabeth Adams Old ’80, to be given annually to a member of the senior class who demonstrates the highest degree of character, leadership, academic and athletic accomplishment and extracurricular participation. Interest income from this fund is used for the operating needs of the school.
- Angela Elaine Appel Visual Art Memorial Fund and Award
- The Flagler Endowment Fund
- Anne McCulloch Hill Middle School Library Fund
- Kurt F. Meyer '77 Senior Athlete Memorial Fund and Award
- Ginny Buckner Memorial Fund and Award
- Parents Association Endowment Fund for Faculty Salaries
Evan Appel ’76 and Jon Appel ’80 established this award in 2009 to recognize an outstanding student, who through their talent, dedication and joy in sharing the visual arts carries on the memory of their mother, Angela Elaine Appel, in the DA community. Interest income from the fund supports the visual art program.
This award was established in 1998 with gifts from family and friends of Kurt F. Meyer, Class of 1977. The award recognizes the male and female athletes in the senior class who have demonstrated the highest degree of excellence, dedication and accomplishment in athletics at Durham Academy. The recipients have competed in at least two sports during their careers and have contributed significantly to the athletic program and to the school through their commitment and athletic accomplishments. In addition, the recipients have represented Durham Academy with the highest standards in leadership and sportsmanship.
- Academy Nights Financial Aid Endowment Fund
- George W. Brumley IV Memorial Scholarship Fund and Jordan McNeill Brumley Memorial Scholarship Fund
- James Anderson Cole III Memorial Fund and Award
- Edward R. Costello Financial Aid Endowment Fund
- Beth Crawford Lower School Scholarship Fund
- DeWitt Wallace-Reader's Digest Scholarship Endowment
- Joseph C. Farmer III Memorial Fund and Award
- Scott Jameson Filston Memorial Fund and Award
- Susan Craig Fitzpatrick Memorial Scholarship Fund
- Edward E. Ford Foundation Minority Scholarship Fund
- Edward E. Ford Foundation Upper School Scholarship Fund
- Thomas Land Fowler Memorial Fund
- GlaxoSmithKline Scholars Program
- Elizabeth Gotham Scholarship Fund
- Heritage Scholarship
- Vasanthi Immanuel Memorial Scholarship Fund
- Jeffs Family Scholarship Fund
- Ruth Fox Johnston and Robert D. Johnston Scholarship Fund
- Class of 1998 Jimmy W. Leonardi Memorial Scholarship Fund
- Amelia Matthews Endowment Fund
- McWilliams Scholarship Fund
- Mary and Don North Endowment Fund
- Dr. James Palmer Memorial Scholarship Fund
- Phay Fund
- Lori Sartain Memorial Scholarship Fund
- Nancy Alyea Schiebel and Elizabeth D. Schiebel Scholarship Fund
- Sheppy Vann Preschool Scholarship Fund
This fund was established in 1978 in memory of James Anderson Cole, III '80, with gifts from family and friends. An award is presented each year to a rising junior who demonstrates excellence in the physical sciences and mathematics and good citizenship. The rest of the interest income is used for financial aid.
This fund was established in 1980 in memory of Joseph C. Farmer, III a 1977 graduate of Durham Academy, by students, faculty and friends. An award is given at graduation to a rising senior for enthusiasm, warmth, sensitivity, citizenship, as well as academic and physical achievement. The recipient receives a Revere bowl and a $100 check to be applied toward his or her college tuition. The rest of the interest income benefits the school’s financial aid program.
This fund was established in 1985 in memory of Scott Filston, a 1984 graduate of Durham Academy. One-third of the annual distribution goes for the purchase of athletic awards throughout the school. Two-thirds of the annual distribution is for financial aid for an Upper School student who exhibits a potential for scholastic excellence coupled with a strong involvement in the life of the school, with particular emphasis on athletic participation. In addition, the Scott Jameson Filston Memorial Award is presented at commencement to a senior whose athletic and academic accomplishments best reflect the qualities characteristic of Scott Filston: the love of learning, the joy of participating with friends and representing his school in interscholastic athletics, perseverance and an unselfish commitment to the school and the school community.
This fund was established in 2004 in memory of Thomas Land Fowler ’73, father of Grant Fowler ’08 and David Fowler ’10. The fund was established with a $20,000 gift from his parents, Dr. and Mrs. Earle Fowler, and additional gifts from friends and family to benefit the school’s need-based financial aid program.
This fund was established in 1994 by Dr. and Mrs. Gerry Musante. The annual income from this fund is divided between need-based financial aid and the Heritage Scholarship. The Heritage Scholarship is presented at the Upper School Honors Assembly to a member of the junior class who demonstrates creativity, energy and dedication to the work ethic, and includes a $1,200 premium to be applied to the recipient’s senior year tuition.
This fund was established in recognition of Robert D. Johnston’s leadership of the school as headmaster from 1969 to 1977. The fund was renamed in 2006 to honor the memory of Bob’s wife, Ruth Fox Johnston. The Ruth Fox Johnston and Robert D. Johnston Scholarship Fund supports the school’s need-based scholarship program.
This fund was established in 1998 in memory of Jimmy Leonardi ’98 by the Class of 1998 and other students, faculty and friends. Jimmy Leonardi passed away in ninth grade after a valiant fight with cystic fibrosis. The fund benefits the school’s need-based financial aid program and supports an Upper School student (preferably a rising sophomore) who is active in the community, accepts challenges, takes advantage of opportunities and who demonstrates an interest in creative writing.
This fund was established in 2000 in honor of Amelia Matthews’ service to Durham Academy from 1975 to 2000. The fund was established with gifts from Amelia and John Matthews and from friends and colleagues. The Amelia Matthews Endowment Fund supports the school’s need-based financial aid program through an annual scholarship award to a Middle School student who demonstrates outstanding character, academic effort and concern for others.
This award was established in 1999 by Mr. and Mrs. Peter A. McWilliams in honor of their children, Robin McWilliams ’89 and Allison McWilliams ’91. The award benefits the school’s need-based financial aid program by supporting a minority student in the Middle School who has demonstrated excellence, or the potential for excellence, in character, scholarship, leadership and service.
This fund was established in 1996 to recognize Don North’s service to Durham Academy as headmaster 1988-96, and Mary North’s contributions as Lower School science teacher and as a teacher at The Hill Center. The fund was established with an anonymous gift of $25,000 and additional gifts from Don and Mary Norths’ friends and colleagues. The Mary and Don North Endowment Fund benefits the school’s need-based financial aid program.
- Hershey Distinguished Faculty Award
- Brenda B. Brodie Endowment Fund
- Judith Vivien Joklik Endowment Fund
Brenda and Keith Brodie established this faculty sabbatical fund in 1986. The program was expanded in 1996 to broaden its scope and to allow for even greater impact on Durham Academy. Annual income from the fund supports a faculty member while he or she pursues an advanced degree or takes graduate level enrichment course work; pursues the development of a curricular or co-curricular program; takes a paid leave of absence from teaching for a semester to complete independent research, writing, painting, etc; or teaches in a unique environment that would not offer a salary. The grant covers either all or a portion of the faculty member’s salary and expenses associated with the course of study.