Hollins University is listed among the nation’s foremost educational institutions in defying the economic downturn and maintaining a healthy financial endowment, according to a nationwide survey of public and private colleges and universities.
The National Association of College and University Business Officers found the value of college and university endowments across the U.S. fell by an average of 23 percent from 2008 to 2009. However, Hollins' endowment declined by only 7.2 percent during that time period, from $120.2 million on June 30, 2008 to $111.5 million as of June 30, 2009.
(As of December 2009, the university's endowment had rebounded to a value of more than $126.5 million.) In comparing the 344 colleges and universities with endowments of $100 million or more, Hollins had the eighth-best performance in the nation during 2008-2009.
"Despite the country's economic challenges, our alumnae have remained steadfast in their commitment to support the university. A conservative investment strategy also contributed to protecting our endowment from the worst of the recession's impact," says Hollins President Nancy Gray. In Virginia, Hollins was second only to Virginia Military Institute in endowment performance among the 15 schools with funds of $100 million or more. There has been some question about the n umbers used by VMI, however.
Hollins also had the second-best performance overall among the nation's women's colleges. "Hollins has faced the country's economic challenges from a position of strength," Gray says. "In addition to preserving our endowment, we have been operating with balanced budgets for the past five years and eliminated our debt. With the NACUBO survey, we are pleased to be recognized for our sound financial management as well as our fundraising efforts."
(From press release.)