Hollins University was among the top schools in the country 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 (NACUBO) 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 value 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 seventh-best performance in the nation during 2008-2009.

In Virginia, Hollins was tops in endowment performance among the 15 schools with funds of $100 million or more. Hollins also had the second-best performance overall among the nation’s women’s colleges.

"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," said Hollins President Nancy Gray.

"Hollins has faced the country’s economic challenges from a position of strength," Gray noted. "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."

For more information about the NACUBO survey, click here.

To view a searchable database of college and university endowments, click here.