Skip to content
Nonprofiteer
← DUKE CORPORATE EDUCATION

Form 990 for tax year 2024

Filed by DUKE CORPORATE EDUCATION.

Totals

Total revenue
$33,688,688
Total expenses
$31,654,124
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$31,482,602
Investment income
$402,360
Other revenue
$1,803,726
Total assets, end of year
$37,288,313
Total liabilities, end of year
$8,110,985
Net assets or fund balances, end of year
$29,177,328
Program services expenses (Part IX)
$26,787,630
Management and general expenses
$4,866,494
Fundraising expenses
$0
Program service expenses (Part III)
$26,787,630

Program services were 84.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: DESIGN AND DELIVERY

    total $31,103,767 · related or exempt $31,103,767

  • 2b · Program service revenue: SUPPORTING SERVICES

    total $378,835 · related or exempt $378,835

  • 3 · Investment income

    total $402,360 · excluded $402,360

  • 6a · Gross rents

    real property $531,933

  • 6b · Less rental expenses

    real property $607,485

  • 6c · Rental income or loss

    real property -$75,552

  • 6d · Net rental income or loss

    total -$75,552 · excluded -$75,552

  • 11a · Other revenue: CORPORATE SUPPORT

    total $1,878,128 · related or exempt $1,878,128

  • 11b · Other revenue: FINDERS FEE

    total $1,150 · related or exempt $1,150

  • 11e · Other revenue, total

    $1,879,278

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $957,843 · program services $289,562 · management and general $668,281

  • 6 · Compensation of disqualified persons

    total $497,611 · program services $497,611

  • 7 · Other salaries and wages

    total $6,294,565 · program services $4,857,536 · management and general $1,437,029

  • 8 · Pension plan contributions

    total $255,346 · program services $178,742 · management and general $76,604

  • 9 · Other employee benefits

    total $713,734 · program services $499,614 · management and general $214,120

  • 10 · Payroll taxes

    total $475,843 · program services $333,090 · management and general $142,753

  • 11a · Fees: management

    total $32,943 · program services $16,038 · management and general $16,905

  • 11b · Fees: legal

    total $181,817 · management and general $181,817

  • 11c · Fees: accounting

    total $369,135 · management and general $369,135

  • 11g · Fees: other

    total $10,638,228 · program services $10,638,228

  • 12 · Advertising and promotion

    total $786,944 · program services $424,848 · management and general $362,096

  • 13 · Office expenses

    total $1,121,261 · program services $845,190 · management and general $276,071

  • 14 · Information technology

    total $1,724,203 · program services $1,206,942 · management and general $517,261

  • 15 · Royalties

    total $2,167,831 · program services $2,167,831

  • 16 · Occupancy

    total $505,078 · program services $380,544 · management and general $124,534

  • 17 · Travel

    total $2,358,234 · program services $2,125,242 · management and general $232,992

  • 19 · Conferences, conventions and meetings

    total $35,191 · management and general $35,191

  • 22 · Depreciation, depletion and amortization

    total $96,171 · program services $67,320 · management and general $28,851

  • 23 · Insurance

    total $49,540 · management and general $49,540

  • 24a · Other expenses: RESTRUCTURING

    total $1,967,931 · program services $1,967,931

  • 24b · Other expenses: MAINTENANCE EXPENSE

    total $238,977 · program services $167,284 · management and general $71,693

  • 24c · Other expenses: CURRENCY CONVERSION

    total $124,077 · program services $124,077

  • 24d · Other expenses: TAXES & LICENSES

    total $61,621 · management and general $61,621

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,361,547 · end of year $1,866,841

  • 4 · Accounts receivable

    beginning of year $6,775,035 · end of year $9,367,796

  • 9 · Prepaid expenses and deferred charges

    beginning of year $344,127 · end of year $477,833

  • 10a · Land, buildings and equipment: cost or other basis

    $5,540,197

  • 10b · Land, buildings and equipment: accumulated depreciation

    $5,283,253

  • 10c · Land, buildings and equipment, net

    beginning of year $327,149 · end of year $256,944

  • 15 · Other assets

    beginning of year $25,681,156 · end of year $25,318,899

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,276,927 · end of year $4,212,533

  • 25 · Other liabilities

    beginning of year $4,648,452 · end of year $3,898,452

  • 27 · Net assets without donor restrictions

    beginning of year $27,563,635 · end of year $29,177,328

Mission and programs · 2024

Mission

THE PURPOSES FOR WHICH THIS CORPORATION IS FORMED ARE FOR SCIENTIFIC, EDUCATIONAL, LITERARY AND CHARITABLE PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (HEREINAFTER THE "CODE"), AND FOR THE SPECIFIC AND EXCLUSIVE PURPOSE OF THE PROMOTION OF THE WELFARE OF DUKE UNIVERSITY (OR ANY OF DUKE UNIVERSITY'S SUPPORT OR AFFILIATED CORPORATIONS); AND TO ACQUIRE, RETAIN AND OPERATE PROPERTY OR PROPERTIES, REAL OR PERSONAL, TANGIBLE OR INTANGIBLE, TO BE HELD EXCLUSIVELY FOR THE BENEFIT OR AT THE DIRECTION OF DUKE UNIVERSITY (OR ANY OF DUKE UNIVERSITY'S SUPPORT OR AFFILIATED CORPORATIONS); AND TO ENGAGE IN ANY LAWFUL ACT OR ACTIVITY FOR WHICH CORPORATIONS MAY BE ORGANIZED UNDER THE NONPROFITCORPORATION ACT OF NORTH CAROLINA. DUKE UNIVERSITY IS A NORTH CAROLINA CORPORATION WHICH IS AN ORGANIZATION DESCRIBED IN SECTIONS 501(C)(3) AND 509(A)(1) OF THE CODE.

Activities or mission (Part I)

THE ORGANIZATION PROVIDES EDUCATIONAL SERVICES TO CORPORATIONS IN SUPPORT OF ITS AND DUKE UNIVERSITY'S MISSION OF PROVIDING EDUCATION.

  • SEE SCHEDULE ODUKE CORPORATE EDUCATION IS A GLOBAL PROVIDER OF CUSTOM CORPORATE EDUCATION SERVICES THAT HELPS ORGANIZATIONS ADDRESS THEIR BUSINESS CHALLENGES. THE ORGANIZATION WAS CREATED TO PROVIDE INTENSIVELY CUSTOMIZED CORPORATE EDUCATION SERVICES FOCUSED ON ADDRESSING BUSINESS CHALLENGES. THE ORGANIZATION'S CLIENTS TEND TO BE LARGE GLOBAL ENTERPRISES. THE ORGANIZATION HELPS ITS CLIENTS IMPLEMENT THEIR STRATEGY THROUGH DEVELOPMENT OF THEIR PEOPLE. THE ORGANIZATION FOCUSES EDUCATION ON WHAT THE CLIENT'S PEOPLE NEED TO KNOW, DO AND BELIEVE IN ORDER TO ADDRESS CURRENT OR ANTICIPATED CHALLENGES, AND ATTAIN SPECIFIC BUSINESS OBJECTIVES. THE ORGANIZATION DIFFERS FROM A TRADITIONAL BUSINESS SCHOOL OR PROFESSIONAL SERVICES FIRM IN THAT THE ORGANIZATION IS NOT DEPENDENT ON THE ORGANIZATION'S OR THE UNIVERSITY'S FACULTY. TO MEET THE BROAD RANGE OF NEEDS THE ORGANIZATION'S CLIENTS BRING TO IT, THE ORGANIZATION DRAWS ON QUALITY FACULTY FROM NUMEROUS BUSINESS SCHOOLS. THE ORGANIZATION ALSO LEVERAGES NON-FACULTY EDUCATORS SUCH AS COACHES, FACILITATORS, INDUSTRY EXPERTS, RETIRED EXECUTIVES, ACTORS AND OTHERS COMMITTED TO HIGH QUALITY CUSTOMIZED EDUCATION. THE ORGANIZATION CAN DELIVER SMALL OR VERY LARGE SCALE PROGRAMS, IN MANY ITERATIONS, IN SEVERAL LANGUAGES, COVERING A FEW TO THOUSANDS OF PARTICIPANTS, WITH COMPLEX LOGISTICAL REQUIREMENTS, ANYWHERE IN THE WORLD. THE ORGANIZATION USES ITS GLOBAL LEARNING RESOURCE NETWORK AND ITS AFFILIATIONS WITH UNIVERSITIES TO PROVIDE ITS CLIENTS A LOCAL DELIVERABLE WITH GLOBAL CONSISTENCY.

    Expenses $26,787,630 · Revenue $33,361,880

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • William Boulding

    DIRECTOR/CHAIRMAN - THRU 9/24/24

    Total calculated
    $933,695
    From this org
    $0
    From related orgs
    $874,117
    Other
    $59,578
    Hours/week
    1 + 62 related

    Schedule J breakdown matched by us

    Base
    $0 + $874,117 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $42,072 related
    Nontaxable benefits
    $0 + $20,321 related
    Filer's total
    $0 + $936,510 related

  • Daniel G Ennis

    DIRECTOR

    Total calculated
    $1,537,454
    From this org
    $0
    From related orgs
    $1,464,086
    Other
    $73,368
    Hours/week
    0.1 + 40.2 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,334,937 related
    Bonus
    $0 + $106,149 related
    Other
    $0 + $23,000 related
    Deferred
    $0 + $42,072 related
    Nontaxable benefits
    $0 + $35,641 related
    Filer's total
    $0 + $1,541,799 related

  • Alec D Gallimore

    DIRECTOR/VICE CHAIR

    Total calculated
    $1,212,129
    From this org
    $0
    From related orgs
    $1,135,366
    Other
    $76,763
    Hours/week
    0.1 + 50.2 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,041,718 related
    Bonus
    $0 + $70,390 related
    Other
    $0 + $23,258 related
    Deferred
    $0 + $42,072 related
    Nontaxable benefits
    $0 + $37,905 related
    Filer's total
    $0 + $1,215,343 related

  • Mary Luce

    DIRECTOR/CHAIRMAN - FROM 9/24/24

    Total calculated
    $913,609
    From this org
    $0
    From related orgs
    $816,954
    Other
    $96,655
    Hours/week
    0.1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $643,925 related
    Bonus
    $0 + $150,029 related
    Other
    $0 + $23,000 related
    Deferred
    $0 + $42,072 related
    Nontaxable benefits
    $0 + $56,634 related
    Filer's total
    $0 + $915,660 related

  • Thayanayagee Chetty

    DIRECTOR/CEO

    Total calculated
    $763,801
    From this org
    $0
    From related orgs
    $677,204
    Other
    $86,597
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $571,209 related
    Bonus
    $0 + $71,194 related
    Other
    $0 + $34,801 related
    Deferred
    $0 + $81,713 related
    Nontaxable benefits
    $0 + $5,658 related
    Filer's total
    $0 + $764,575 related

  • Barbara Frick

    SECRETARY/DIR. OF REG. COM

    Total calculated
    $287,802
    From this org
    $234,001
    From related orgs
    $0
    Other
    $53,801
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $205,061
    Bonus
    $0
    Other
    $28,940
    Deferred
    $16,290
    Nontaxable benefits
    $50,783
    Filer's total
    $301,074

  • Christine Robers

    CMO

    Total calculated
    $286,128
    From this org
    $266,808
    From related orgs
    $0
    Other
    $19,320
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $243,808
    Bonus
    $0
    Other
    $23,000
    Deferred
    $9,214
    Nontaxable benefits
    $11,314
    Filer's total
    $287,336

  • Paul Mathews

    CFO

    Total calculated
    $394,922
    From this org
    $353,976
    From related orgs
    $0
    Other
    $40,946
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $323,476
    Bonus
    $0
    Other
    $30,500
    Deferred
    $18,300
    Nontaxable benefits
    $30,816
    Filer's total
    $403,092

  • Prakash Radhakeesoon

    MANAGING DIRECTOR

    Total calculated
    $266,262
    From this org
    $228,891
    From related orgs
    $0
    Other
    $37,371
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,541
    Bonus
    $0
    Other
    $28,350
    Deferred
    $14,175
    Nontaxable benefits
    $30,533
    Filer's total
    $273,599

  • David Welsh

    REGIONAL MANAGING DIRECTOR

    Total calculated
    $373,835
    From this org
    $332,835
    From related orgs
    $0
    Other
    $41,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $302,335
    Bonus
    $0
    Other
    $30,500
    Deferred
    $18,300
    Nontaxable benefits
    $30,870
    Filer's total
    $382,005

  • Vishal Patel

    PRESIDENT GLOBAL MARKETS

    Total calculated
    $663,048
    From this org
    $638,257
    From related orgs
    $0
    Other
    $24,791
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $497,821
    Bonus
    $117,436
    Other
    $23,000
    Deferred
    $14,414
    Nontaxable benefits
    $12,050
    Filer's total
    $664,721

  • Jason Kulasingam

    MANAGING DIRECTOR

    Total calculated
    $234,164
    From this org
    $224,128
    From related orgs
    $0
    Other
    $10,036
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $224,128
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $11,709
    Filer's total
    $235,837

  • Kevin Maughan

    DIRECTOR, IT GLOBAL

    Total calculated
    $238,703
    From this org
    $205,662
    From related orgs
    $0
    Other
    $33,041
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,662
    Bonus
    $0
    Other
    $23,000
    Deferred
    $10,710
    Nontaxable benefits
    $30,501
    Filer's total
    $246,873

  • Michael A Chavez Jr

    FORMER DIRECTOR/CEO

    Total calculated
    $246,906
    From this org
    $226,616
    From related orgs
    $0
    Other
    $20,290
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $210,748
    Bonus
    $0
    Other
    $15,868
    Deferred
    $13,601
    Nontaxable benefits
    $11,183
    Filer's total
    $251,400

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Tax indemnification and gross-up payments
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
GROSS-UP PAYMENTS THE FOLLOWING INDIVIDUALS RECEIVED A TAX GROSS-UP PAYMENT FOR A PARKING ALLOWANCE WHICH HAS BEEN INCLUDED IN TAXABLE INCOME. PAUL MATHEWS, BARBARA FRICK, AND CHRISTINE ROBERS.
PART I, LINE 3
COMPENSATION OF CEO THE SALARY FOR THE CEO WAS REVIEWED AND APPROVED BY THE BOARD, ACTING AS THE COMPENSATION COMMITTEE, WITH THE ASSISTANCE OF AN INDEPENDENT COMPENSATION CONSULTANT, UTILIZING A COMPENSATION SURVEY, PROPRIETARY DATABASE, AND FORM 990 OF OTHER ORGANIZATIONS.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • DUKE CE LLC

    1 MEMBER LLC · NC · income $0 · assets $0

    Directly controlled by DCE

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • SBER LUCKY STRIKE LLC

    REAL ESTATE · NC

  • BLACKWELL PARTNERS SERIES A

    INVESTMENTS · DE

  • LYRICAL BLUE REALTY

    INVESTMENTS · DE

  • MANGUM II LLC

    INVESTMENTS · NC

  • DILWEG BLUE FUND LP

    INVESTMENTS · DE

  • LYRICAL-BLUE IV LP

    INVESTMENTS · DE

  • LS INVESTOR LLC

    EXCLUDED · REAL ESTATE · NC · 0.01% owned · share of income $35,919 · share of assets $1,613,463

    Directly controlled by DUKE CE LS INC

  • STRATUS SCP II INVESTORS - C LP

    INVESTMENTS · UK

  • ALTOS HYBRID D LLC

    INVESTMENTS · DE

  • BLACKWELL PARTNERS LLC - SERIES C

    INVESTMENTS · DE

  • BLACKWELL PARTNERS LLC - SERIES B

    INVESTMENTS · DE

  • BLACKWELL PARTNERS LLC - SERIES D

    INVESTMENTS · DE

  • BLACKWELL PARTNERS LLC - SERIES E

    INVESTMENTS · DE

  • ALTOS HYBRID 2D LLC

    INVESTMENTS · DE

  • LYRICAL-BLUE 100 KINGSHIGHWAY PARTNRS LP

    INVESTMENTS · DE

  • WASHINGTON GOTHIC LP

    INVESTMENTS · DE

  • DUKE TRIANGLE ENDOSCOPY CENTER LLC

    HEALTHCARE · NC

  • DWELLWORKS CO-INVESTMENT LLC

    INVESTMENTS · DE

  • BEP LEGACY 1C LLC

    INVESTMENTS · DE

  • WELLINGTON TRST CO NA-CTF OPP FI ALLOC

    INVESTMENTS · DE

  • ENIAC SPECIAL DELTA LLC

    INVESTMENTS · DE

  • STRATUS SCP III INVESTORS - GAMMA LP

    INVESTMENTS · UK

  • MANGUM LLC

    INVESTMENTS · NC

  • CPF HEARTBEAT HEALTH INV A LLC

    INVESTMENTS · DE

  • CPF TRIAS INVESTMENT II LLC

    INVESTMENTS · DE

  • MANGUM III LLC

    INVESTMENTS · DE

  • MANGUM III LLC - SERIES A

    INVESTMENTS · DE

  • RALLYDAY LF CO-INVESTORS LP

    INVESTMENTS · DE

  • MANGUM III LLC - SERIES E

    INVESTMENTS · DE

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • DUKE CE (SEA) PRIVATE LIMITED

    C · EDUCATION CON · SN · 100% owned · share of income $3,500,591 · share of assets $1,371,386 · controlled entity

    Directly controlled by DCE

  • DUKE CE LS INC

    C · REAL ESTATE · NC · 100% owned · share of income $93,597 · share of assets $3,840,898 · controlled entity

    Directly controlled by DCE

  • DUKE CORPORATE EDUCATION LIMITED

    C · EDUCATION CON · UK · 100% owned · share of income $881,712 · share of assets $5,228,783 · controlled entity

    Directly controlled by DCE

  • DUKE CORPORATION EDUCATION RSA

    C · EDUCATION CON · SF · 75% owned · share of income $6,232,625 · share of assets $4,368,216 · controlled entity

    Directly controlled by DCE

  • DUKE GLOBAL CONSULTING (KUNSHAN)

    C · CONSULTING · CH

  • DUKE INDIA SERVICES PRIVATE LIMITED

    C · MEDICAL RESEARCH · IN

  • DUKE MEDICAL STRATEGIES INC

    C · HEALTHCARE · NC

  • DURHAM CASUALTY COMPANY LTD

    C · INSURANCE · BD

  • GHI ERP LTD

    C · INVESTMENTS · MP

  • GHI HOLDINGS MAURITIUS

    C · INVESTMENTS · MP

  • GHI HSP LTD

    C · INVESTMENTS · MP

  • GHI JBD LTD

    C · INVESTMENTS · MP

  • GHI LTP LTD

    C · INVESTMENTS · MP

  • GOTHIC INTERNATIONAL LTD

    C · INVESTMENTS · CJ

  • HEALTH SYSTEM MEDICAL STRATEGIES INC

    C · HEALTHCARE · NC

  • MARATHON BLUE CAYMAN FUND

    C · INVESTMENTS · CJ

  • MCP PRIVATE CAPITAL (FEEDER) FUND I LP

    C · INVESTMENTS · LU

  • DUKE GLOBAL GERMANY GMBH

    C · EDUCATION · GM

  • DUKE CORPORATE EDUCATION INDIA PRIVATE

    C · EDUCATION CON · IN · controlled entity

    Directly controlled by DCE

Provenance

Return type
form_990
Tax year
2024
Filed
14 May 2026
IRS schema version
2024v5.5
Source object
202611349349303321

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.