University President Drew G. Faust said financial aid fundraising is still a significant priority for campaign organizers.
Instead of using hedge funds to manage its money, the University should shift half of its $37.1 billion endowment into lower-cost funds tracking the S&P 500, the letter’s signatories argued.
Harvard Medical School’s capital campaign reached its $750 million goal earlier this month, administrators announced Wednesday.
Sally C. Donahue, the College’s financial aid director who helped launch the Harvard Financial Aid Initiative, will retire in August.
Fiscal Year 2017 marks the fourth consecutive year that the University has raised over $1 billion, according to data from the Council for Aid to Education.
The campaign garnered contributions from donors representing every Harvard school and every Harvard and Radcliffe class from 1933 to the present.
Experts say the effect of the federal tax on Harvard’s endowment remains unclear as the government continues to work out features of the new law.
Harvard’s endowment returns fell three points below the national average for college and university endowments in fiscal year 2017.
The protest forms part of a series of protests calling on higher education institutions to divest from financial groups with significant Puerto Rico debt holdings.
Harvard’s record-breaking capital campaign is still below its financial aid goal as the fundraising drive enters its final months, according to donors at a recent event.
Rogers, who assumed the role in 2007, helped oversee the first University-wide capital campaign, which launched in Sept. 2013 and is set to conclude at the end of June.