Duke University's endowment lost more than 24 percent of its value last year.
Duke, like major research institutions across the nation, was hit hard by the recession last year. The endowment lost 24.3 percent of its value and is now worth $4.4 billion, according to this new report.
With less money to pull from its endowment for operational costs, Duke officials spent much of the last year looking for ways to ease, over three years, a $125 million budget shortfall.
They did so in part by offering incentives for workers to retire and by freezing construction projects.
