With its impact on endowments and annual budgets, the current recession has made knowledge of finances more critical than ever. Knowing that many boards are grappling with draconian cuts in their budgets and massive losses in their endowment portfolios, In Trust set out last year to learn whether board members really understand their school's financial picture.

In August 2009, we e-mailed 1,846 board members (excluding board chairs) whose e-mail addresses were known to us. Of these, 293 (16 percent) clicked on a link to participate in an informal three-question survey. We suspect self-selection bias — board members already interested in finance were more likely to take the survey than other board members. These responses should be considered suggestive.

Article from: Summer 2010

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