Harvard announced yesterday that the University's nine "giving funds" received $8,431,729 in donations for the academic year 1972-1973. This sum exceeds the previous year's total by $927,531. Donations to the funds reached a new high for the third consecutive year, the University announced.
The nine annual funds, each earmarked for a different school or college, provide "non-restricted, immediate-use" revenue.
"Giving fund" money finances operating expenses not covered by tuition and other sources of income, Russell M. Moore, director of the Harvard Business School Fund, said yesterday.
Donations to the Funds come primarily from alumni, parents and hundreds of corporations which match their employees' gifts, Moore said. Moore could not identify specific corporate contributors.
Five individual funds this year reached record highs. Of all the funds, only the Harvard Graduate School of Education Fund failed to match its total for 1971-1972.
Gifts to The Harvard College Fund, the oldest and largest of the funds, totaled $4,810,387, a one year increase of $398,291. The class of 1948, during its 25th reunion, donated $1,148,000. John D. Dromey, associate director of The Harvard College Fund, said yesterday.
The Radcliffe College Fund increased $82,056 over its 1972 total, to reach $486,191, a gain of 20 per cent.
Although the Harvard Business School Fund increased during the past year from $$,085,690 to $1,182,087, the percentage of Business School alumni who gave to the fund declined from 33.1 per cent to 31.4 per cent, Moore said. Of the $1,182,087 given this year to the Business School, $130,000 came as matching gifts from corporations and $54,000 from parents, Moore said.
The Harvard Graduate Society for Advanced Study and Research Fund jumped from $65,735 in 1971-72 to $150,711 this year.
The Harvard Law School Fund increased for the fourth consecutive year, totalling $1,428,115.
The Harvard Medical School Fund $228,892 increased slightly, and the funds of the Dental School ($119,000) and the Divinity School ($8,116) registered no gains over last year