Angier B. Duke Memorial is an independent non-profit foundation based in Charlotte, North Carolina. Established in 1925, the foundation primarily focuses on developing scholarships and supports scholars financially. The memorial limits assistance for these purposes to Duke University. The A.B. Duke scholarship program provides more than a merit-based financial award. The foundation offers support for the intellectually adventurous and curious. In addition to receiving financial awards covering full tuition, room and board, and all mandatory fees, A. B. Duke Scholars are encouraged to develop their own curricula and program-funded research projects. The assets of the foundation are managed by the board of trustees.Angier B. Duke Memorial's investment portfolio is valued at $28.45 million, with investments in private equity and cash.