The Association of Governing Boards is convening endowment governance workshops amid warnings that demographic shifts, enrollment declines and funding volatility will increasingly force trustees into hard fiscal choices. AGB materials recommend fiduciary fundamentals and portfolio alignment with institutional mission. Policy guides for public board appointments emphasize qualifications, time commitment and independence, underscoring heightened expectations for trustee competence as financial and reputational risks grow. Governance observers say boards must now be fluent in investment policy, risk oversight, and crisis communications. University leaders should expect increased scrutiny of board composition and endowment strategy at accreditation reviews and in donor and alumni conversations; effective governance will be central to institutional resilience as budgets tighten.