Published Dec 3, 2009
In the wake of the global economic downturn many universities lost considerable value from their endowments and were forced to make budget cuts.
James Hille, the university's chief investment officer, said the average university endowment in North Texas fell 22 to 23 percent.
According to The Chronicle of Higher Education, universities with an endowment value more than $1 billion lost an average 20 percent of the total value of their endowments. Harvard lost about 30 percent of the value of its endowment and was forced to make drastic budget cuts.