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Texas Tech System endowment exceeds $1 billion
The Texas Tech System endowment has exceeded $1 billion for the first time in the system’s history, A-J Media has learned.
The endowment now amounts to $1.043 billion, the 86th-highest in the nation, according to Tech’s office of communications and marketing.
“Once you get to a billion-dollar endowment, you’re in a new league,” Tech Chancellor Kent Hance said.
According to Jim Brunjes, vice chancellor and chief financial officer for the system, the billion-dollar figure is the combined total for all of Tech’s endowment money collected through the years.
More at http://lubbockonline.com/education/2014-03-30/texas-tech-system-endowment-exceeds-1-billion .