An endowed professorship made in Durham's name, the Woody Durham Distinguished Professorship Fund, was also established in 2005. This professorship was created to seek out deserving new faculty members for UNC Chapel Hill's Department of Communication. Durham received the Curt Gowdy Media Award for his contributions to basketball during the Naismith Memorial Basketball Hall of Fame Enshrinement Ceremony in September 2015. A presentation honoring Durham receiving the Curt Gowdy Media Award was held in the Smith Center on February 17, 2016, during halftime of the Duke/UNC Chapel Hill men's basketball game.