U.N. Adviser visits Duke
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Special Adviser to the U.N. Juan Mendez spoke at Duke after donating his papers | Online Only
Men’s soccer defeats UNC for first time since 2006 | Page 6
Raleigh houses N.C.’s first special needs charter school | Page 2
The Chronicle T H E I N D E P E N D E N T D A I LY AT D U K E U N I V E R S I T Y
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MONDAY, SEPTEMBER 22, 2014
ONE HUNDRED AND TENTH YEAR, ISSUE 20
Duke routs Tulane 47-13 Uni. endowment reaches record high of $7 billion Financial report presented to Board of Trustees at first meeting of academic year
The endowment’s value represents an increase of $1 billion from the 2012 fiscal year, which also saw high growth—a reported 13.5 percent return on the endowment investments, which raised the endowment’s value from $5.6 billion to $6 billion. Carleigh Stiehm & Emma Baccellieri The endowment is professionally manEditor-in-Chief & News Editor aged by DUMAC, an investment group controlled by the University. The fiscal year runs The Duke University endowment reached from July 1 to June 30. a record high of $7 billion at the end of the Students should not underestimate the 2013 fiscal year. lasting impacts that a The growth—which strong and growing enany of our Truststems from a 20.1 percent dowment have on acareturn on total investdemic and student life, ees have been on ments—was announced the Board the whole time said Michael Schoenfeld, in a report to the Board vice president for public of Trustees, who held their through the incredible affairs and government refirst meeting of the aca- downturn, and the fact that lations. He noted that the demic year this weekend. our endowment is now University’s endowment The endowment’s previmakes possible Duke’s ous peak came before here...is wonderful. extensive financial aid opthe economic downturn, tions, endowed professor— Richard Brodhead ships and programs such reaching $6.1 billion in 2008 before dropping more than 25 percent. as DukeEngage. “Everyone was glad to hear the economic Recent estimates state that slightly more report,” President Richard Brodhead said. than 20 percent of the endowment is desig“Many of our Trustees have been on the nated to support the financial aid budget. Board the whole time through the incredible The endowment’s growth comes after a downturn, and the fact that our endowment is now here...is wonderful.” See Trustees on Page 4
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Jesús Hidalgo | The Chronicle The Duke University Marching Band, pictured above, parades into Wallace Wade Stadium prior to the Blue Devils’ 47-13 victory over the Green Wave Saturday afternoon. (See story on page 7.)
Monserrate honors Pratt at New Nicholas School dean Founders’ Day Convocation takes international approach Member of Board of Trustees is first keynote speaker from Pratt School of Engineering Bochen Han The Chronicle Students, faculty, administrators and alumni convened in the Chapel Friday for the annual Founders’ Day Convocation—featuring, for the first time, a keynote speaker from the Pratt School of Engineering. Martha Monserrate—Engineering ‘81 and a member of the Board of Trustees—gave the keynote address, emphasizing Pratt’s success as the school celebrates its 75th anniversary and describing how it fits into the greater picture of the University. The Convocation also featured President Richard Brodhead’s presentation of faculty and alumni awards. Monserrate started her speech by asking all the engineers in the room to stand up
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for recognition before launching into an address lauding Pratt’s success over the years and more notably, the “importance of the engineer and the non-engineer to each other”. The president of both consulting firm Environ- Martha Monserrate mental Excellent Engineering and the war amputee service organization the Given Limb Foundation, Monserrate described how her time at Duke provided her with a unique sense of direction. Although she entered the University intending to study biology, she changed her major after taking an eye-opening course on air pollution and has been engaged in environmental engineering since. She joined the Board of Trustees in 2009. She earned a chuckle from Brodhead when she brought up a Kipling poem bearing
Duke’s Nicholas School of the Environment is poised to take an international approach after undergoing two major transitions. Within this past year, the Nicholas School appointed a new dean—Alan Townsend, who replaced former Dean William Chameides— and the school’s Environment Hall was completed and opened for use. With its new leadership and an environmentally-friendly space in which to operate, the Nicholas School hopes to expand by undertaking worldwide initiatives and furthering its interdisciplinary programs. “We have emerging initiatives coming out of the school that really reach broadly to think about how we can group talent in the University,” Townsend said. “I just see a good
See Convocation on Page 3
See Nicholas on Page 4
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Yuyi Li | The Chronicle The Nicholas School’s Environment Hall, pictured above, was completed and opened for use this past Spring.
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