University Finances
University Annual Reports
Community members and university affiliates listened to representatives from Harvard, MIT, and Lesley University as they presented their universities’ annual reports to the Cambridge City Planning Board.
North Korea Succession
In a packed Tsai Auditorium on Monday, January 23rd, from left History Professor Andrew Gordon, Korea Professor Carter Eckert, Cold War Studies Professor Mark Kramer, and China Professor Anthony Saich discuss relevant implications for Korea after Kim Jong Il's demise.
Ed Forst, Former Harvard VP, Leaves Goldman
Former University vice president Edward C. Forst ’82 will retire from his position as co-head of investment management at Goldman ...
HMC May Sell $1.5 Billion in Illiquid Assets
Harvard will sell $1.5 billion in private equity assets, as the Harvard Management Company continues its efforts to reduce the University’s illiquid holdings.
FY 2011 Budget Deficit Climbs
The University closed the 2011 fiscal year with a $130 million deficit on $3.9 billion in expenses, a significant jump from the last year’s annual deficit of $900,000, according to Harvard’s annual financial report.
Harvard Raises $639M Despite Tough Economy
Despite a shaky economy, Harvard raised a record setting $639 million during the 2011 fiscal year, the third-largest amount ever accrued in the University’s history.
Harvard Executives Earn More Than Their Massachusetts Counterparts
The average of the top eight Harvard employees was more than three times the average of the top eight employees at the nearest runner-up—Boston University.
Analysis: Despite Performance, HMC Portfolio To Be Tested Over Next Fiscal Year
Harvard’s endowment returns of 21.4 percent in fiscal year 2011, announced last week, beat benchmarks and were the highest in recent memory.
Harvard Endowment Jumps 21.4 Percent
Harvard’s endowment posted a 21.4 percent gain for fiscal year 2011, bringing the endowment’s value up to $32 billion.
FAS Deficit Down by Half, to $16 Million
The new deficit figure was revealed at a meeting late last week with Leslie A. Kirwan, dean of Administration and Finance for FAS. Dean of FAS Michael D. Smith is expected to announce the number at the Oct. 4 Faculty meeting, according to FAS spokesperson Jeff Neal.
Harvard Bonds' Value Rises
Bonds from Harvard University, MIT, and Princeton University were the best performers among US investment-grade bonds in the month of August.
Experts Question Report Alleging Harvard's Involvement in Land Grabs
Amidst accusations in a recently published report that Harvard is investing in a “land-grabbing” hedge fund, experts in the field are questioning the document's accuracy.
Students Lobby for University Financial Disclosure
A group of Harvard students is lobbying on behalf of a financial disclosure bill that would increase requirements on the University.
Capital Campaign Quietly Underway
Harvard has quietly begun a new capital campaign, which is expected to raise an even larger sum and to reshape the face of the University once again.
Mendillo’s HMC
HMC has repositioned itself to take more responsibility for guaranteeing the University’s budgetary needs, and has abandoned its image as a one-client hedge fund.
Drew Faust Took Home $874,559 in Salary, Benefits Last Year
University president Drew G. Faust earned $874,559 in salary and benefits last year according to the University’s federal tax filing.
Harvard To Buy Back $300 Million of Bonds
Harvard plans to buy back $300 million of bonds that it sold during the financial crisis, since a reduction in debt would allow the University more flexibility to make new investments, according to Bloomberg.
Federal Budget Cuts Research, Education Funding
The federal budget for the last six months of fiscal year 2011 calls for significant cuts in research and education, which may impact Harvard’s ability to fund its programs.