The Duke Endowment

The day in 1924 when Bennette Eugene Geer took a train ride with his friend James Buchanan Duke may well have been the most fortuitous day in Furman's history.

Duke, one of the South's leading businessmen, was founder of the American Tobacco Company and the Southern Power Company (now Duke Energy). Geer, who had taught English at Furman and would later be the school's sixth president, was at the time president of Greenville's Judson Mills, of which Duke was the leading stockholder.

During the train ride, Duke told Geer of his plans to give Trinity College (which would become Duke University) a large gift. Geer responded that he hoped Duke would also do something for "a little school, Furman University, down in Greenville," in which he was deeply interested. Duke said something to the effect of, "Certainly, I will."

Later, Duke invited Geer to spend the weekend at his home in Charlotte, where he outlined his plan to create The Duke Endowment, a philanthropic trust into which he would initially place $40 million.

Remembering his promise about Furman, Duke said he would include the university for 5 percent of the income from the endowment.

When the time came to set up the actual indenture, Duke apparently forgot what college he was supposed to include and had to ask someone the name of "that little college in Greenville that Ben Geer is such a fool about."

Furman President William J. McGlothlin foresaw the gift's impact when he said, "Mr. Duke's generous gift has changed the whole face of things for us, so far as endowment is concerned."

Indeed, without income from The Duke Endowment, Furman might not have survived the Depression years. Nor is it likely that the university would have been able to coordinate with the Woman's College without the stabilizing influence of the Duke Endowment money.

Today, of course, The Duke Endowment ranks as one of the leading philanthropic foundations in the country. Its special grants to Furman have supported such areas as James B. Duke scholarships, faculty development, study abroad programs, the computer center, the library and, fittingly enough, an academic chair named for Bennette E. Geer.

Moreover, the prestige provided by the university's association with the endowment and the educational advances that the endowment has supported have helped Furman qualify for many other gifts and grants.