University Finances
FAS Funding Policy To Steer Centers
As the Faculty of Arts and Sciences prepares its budget for the upcoming fiscal year, the administration will turn its attention to area-study centers to streamline spending of FAS resources, sparking concern among some center leaders.
BRIEF: Harvard Considers Selling Real Estate Holdings
The University is seeking to divest about $500 million dollars of a real estate portfolio that includes $2 billion in current assets as well as $3 billion in future commitments.
Harvard Owns Burritos and Superheroes
Prices are down and markets are hurting. Some might think it’s a buyer’s market out there (we couldn't tell you—we're barely passing Ec 10). So what has Harvard been investing in? BJ Services, for one. Marvel comics and Chipotle burritos, too.
Gifts to Major Colleges Decline
Donations to American colleges and universities fell nearly 12 percent during the fiscal year ending last June, the steepest decline in fundraising since the mid-1970s and a direct result of the recent recession, according to a report released by the Council for Aid to Education yesterday.
We're The Worst At Something
The popular finance blog 24/7 Wall St. threw a couple stones at Fair Harvard last night, calling our endowment "by a wide margin the worst managed endowment." Ouch.
Large University Endowments Down Average of 20.5 Percent
A new report found that university endowments declined an average of 18.7 percent in the fiscal year ending June 30, confirmation that Harvard has not been alone in suffering large endowment losses.
Harvard Name Aids Debt Sales
The cachet of the Harvard brand name came into play on the bond market when the University sold $480 million of debt last week and beat benchmark interest rates—an indication that the University’s bonds remain in high demand despite Harvard’s budgetary troubles.
Harvard Natural Target for IRS Audit, Administrator Says
The University's top finance official has described the Internal Revenue Service's decision to include Harvard in its audit of 40 institutions of higher education as a natural consequence of Harvard's large and diverse operations.
IRS To Audit Harvard as Part of Non-Profit Probe
Harvard will be audited by the Internal Revenue Service as part of the government's efforts to review practices at non-profit organizations that take advantage of tax exemptions.