Coincident with the opening of the 1930 campaign of the Harvard Fund. L. L. Wadsworth, Jr. '30, has been appointed Class Agent for the Fund for the Senior Class. According to an announcement made last night by J. R. Hamlen '04, Chairman of the Harvard Fund Council, Wadsworth's appointment is a permanent one. Wadsworth has been manager of the hockey team and was coxswain on the Second University crew last spring.
Fund Started in 1925
Since 1925 the Harvard Fund has become widely recognized as one of the most important of all Alumni activities. Harvard's continual and increasing need for what the late President Eliot called "free money" is not covered by its great endowment. The average bequest to Harvard, as to most other universities, carries some sort of stipulation as to its assignment and use. All money contributed to the Harvard Fund, however, is put at the disposal of the President and Fellows of the College to be employed as they see fit. One of the great needs of the moment is money for a general raise of teachers' salaries.
The Harvard Fund, which was established in 1925 by a group of 30 Harvard graduates known as the Harvard Fund Council, raises each year from the entire Alumni body of 50,000 Harvard men money for the unrestricted use of the College and the Graduate Schools. Last year the Fund raised $177.765 from $.976 men. In the entire four years of operation a total of 9.266 men have given $639.387. Many of these men, of course have contributed for all four years.
No Definite Amount Stipulated
In giving to the Harvard Fund, the Council's Chairman is particularly anxious to emphasize the fact that a larger number of contributors is wanted rather than a large amount. The Fund never asks for a definite sum and from members of the Senior Class and from Classes recently graduated from College it expects only the most nominal gifts from a dollar up. The main thing is that a man should give something and begin now a habit in which he will take increasing pride as the years go on.
Every dollar contributed to the Fund by a member of the Class of 1950 during the next twenty five years will automatically be credited at compound interest to the gift of $150,000 which, by tradition, the Class will present to the College on its twenty-fifth anniversary. It is important to remember that money given now, under compound interest, will more than double by 1955.
As at Yale University, where the Yale Alumni funds has been in successful operation for nearly 40 years, the Harvard Fund can do, and does, an immense work in keeping Harvard men in touch with Cambridge. Among the publicity sent out by the Fund to 50,000 men each year, is included one or more issues of "The Yard", a pictorial devoted exclusively to photographs and news of the University. Since the first year of the Fund every effort has been made to familiarize the Senior Class of the College with the principles on which the Fund is operated, and the Classes of 1926, 1927, 1928, and 1929 have all made their first contribution to the Fund during their Senior year. As a result of this early initiation, the Class of 1927 last year had 282 contributors for a total of $2,822. The Class Agent for 1927 is Lawrence Coolidge, 2L