This could be bad news for organizations that depend heavily on donations—including institutions of higher education like Harvard.
President Faust joined 48 other university leaders in penning a letter to congressional leaders Wednesday to object to the recently passed endowment returns tax.
When Lawrence S. Bacow becomes Harvard’s 29th president this summer, he will quickly take over the role of appointing administrators to fill vacant positions.
University President Drew G. Faust said the unprecedented endowment tax will have a "pretty significant" impact on funding for Harvard initiatives.
At 66, incoming University President Lawrence S. Bacow will be the oldest president ever to begin a term at Harvard’s helm.
Some say Bacow’s history in higher education campaigns has prepared him well for the financial responsibilities that come with running one of the world’s richest universities.
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.
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.
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.
Without denying involvement in Harvard's presidential search, Eric S. Lander publicly asserted his devotion to his current roles at MIT and the Broad Institute.
Faust’s successor could expect to make over $1.4 million annually—a pay raise for candidates likely on the shortlist.
Harvard voted on a number of new shareholder proposals in 2017 related to indigenous rights, criminal background checks, and divestment from fossil fuels, according to an annual shareholder responsibility report released Tuesday.
Harvard Medical School Dean George Q. Daley ’82 listed several life scientists he “expects” to see on the presidential search committee’s candidate shortlist.
“The hope is that the proceeds from the sale of that building will allow us to pay off a significant part of our debt," Medical School Dean George Q. Daley ’82 said.
Only a few months after a scare that Harvard might face deep cuts to its federal science funding, things may be looking up for Harvard Medical School.