Overview
What is Durham Realty Inc?
Durham Realty Inc, based in Durham, North Carolina, is a section 501(c)(3) organization affiliated with Duke University. Its primary role is to manage and invest in real estate, contributing to the university's benefits. The organization's mission is to support Duke University, a commitment that led to the approval of its merger with Duke Gift Properties Inc. Effective June 30, 2023, Durham Realty Inc will merge into Duke Gift Properties Inc, with the latter becoming the surviving entity. This move aims to consolidate and enhance their combined real estate management efforts for the betterment of Duke University.
Is Durham Realty Inc legitimate?
Durham Realty Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Durham Realty Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Durham Realty Inc?
Durham Realty Inc, functioning as a section 501(C)(3) support corporation for Duke University, has a primary mission to support the university. Specifically, the company holds, invests, and manages real estate assets for the benefit of Duke University. The Durham Realty Inc. board of directors approved a merger between Durham Realty and Duke Gift Properties Inc., with the latter surviving the merger and absorbing Durham Realty Inc. as of June 30, 2023. This merger is aimed at furthering the mission of supporting Duke University.
Who is the CEO of Durham Realty Inc?
Rachel L Satterfield is the Director/President of Durham Realty Inc.
What is the revenue of Durham Realty Inc?
Durham Realty Inc's revenue in 2023 was $81,890.
Who are the executives of Durham Realty Inc and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $511,235
- Other: $50,257
- Compensation: $0
- Related: $397,038
- Other: $66,085
- Compensation: $0
- Related: $372,861
- Other: $37,764
- Compensation: $0
- Related: $190,623
- Other: $36,705
- Compensation: $0
- Related: $95,690
- Other: $29,550
- Compensation: $0
- Related: $362,006
- Other: $45,270
Where can I find the form 990 for Durham Realty Inc?
Durham Realty Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Durham Realty Inc
Durham Realty Inc, functioning as a section 501(c)(3) support corporation for Duke University, is dedicated to supporting its benefactor institution. The organization's primary objective is to manage, invest, and hold real estate assets, ultimately benefiting Duke University. To achieve this mission, the Durham Realty Inc board approved a merger with Duke Gift Properties Inc. As per the agreement, Duke Gift Properties Inc will be the surviving entity, with Durham Realty Inc merging into it, effective June 30, 2023. This merger is a testament to Durham Realty Inc's commitment to providing sustained support to Duke University.
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Impact
October, 2024
Durham Realty Inc has a significant impact on the operational and financial landscape of Duke University by strategically managing real estate assets that support the university's mission. With the primary goal of holding, investing, and managing real estate, the organization contributes to the enhancement of the university’s infrastructure and its ability to provide quality education and research opportunities.
The recent merger with Duke Gift Properties, Inc. strengthens this impact by consolidating resources and expertise, ensuring that real estate management is more efficient and effective. This merger allows for better alignment of real estate strategies with the university’s evolving needs, potentially leading to increased funding for academic programs and initiatives.
Overall, Durham Realty Inc plays a vital role in supporting Duke University’s academic and community goals through careful management of real estate that benefits the institution as a whole.
This information is meant to be a general summary of Durham Realty Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $81,890
- Gross Receipts: $81,890
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Organization Details
Founding Year
1991
Phone
(919) 684-2006Principal Officer
Rachel L Satterfield
Main Address
2200 WEST MAIN STREET STE 300, DURHAM, NC, 27705
NTEE Category
Code: T99I - Philanthropy
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