University Finances
Mass. State Reps. Introduce Bill Seeking To Compel Harvard To Divest From Fossil Fuels
Massachusetts State Reps. Michael L. Connolly and Rep. Erika Uyterhoeven introduced a bill this week that would seek to use the state’s constitutional oversight authority to compel Harvard to divest its holdings in the fossil fuel industry.
Bacow Made $1.2 Million During First Full Year of Presidency, Financial Disclosures Show
University President Lawrence S. Bacow earned $1,224,889 in 2019, his first full year as Harvard’s president, according to financial documents filed by the University earlier this month.
Harvard Corporation Senior Fellow Bill Lee Lauds ‘Really Positive’ Fundraising Year Despite Pandemic
Harvard Corporation senior fellow William F. Lee ’72 said in an interview Wednesday that the University expects high fundraising returns by the end of the fiscal year despite challenges posed by the Covid-19 pandemic.
Faculty Discuss Response to Epstein Report, Conflict of Interest Reporting
Harvard administrators outlined responses the University has taken regarding the late convicted sex offender Jeffrey E. Epstein’s ties to Harvard during a monthly meeting of the Faculty of Arts and Sciences Tuesday.
Divest Harvard Meets With Mass. Attorney General’s Office Over Complaint Against University
Organizers from Fossil Fuel Divest Harvard — an activist group calling for Harvard to divest from the fossil fuel industry — met with senior staff members from the office of Massachusetts Attorney General Maura T. Healey ’92 Friday to discuss a legal complaint they filed in March over the University’s investments.
Harvard Will Draw Further From Endowment in FY2022 Than Planned, Citing Strong Market Returns
The Harvard Corporation voted last week to draw further from the endowment for fiscal year 2022 than initially planned in light of strong stock market returns.
CFO Hollister Predicts Harvard’s Second Consecutive Year of Declining Revenues for First Time Since Great Depression
Vice President for Finance and Chief Financial Officer Thomas J. Hollister forecasted in a Tuesday interview with The Crimson that Harvard will experience its second consecutive year of declining revenues for the first time since the Great Depression of the 1930s.
Harvard-Sponsored Hedge Fund TPRV Capital To Shutter Operations
TPRV Capital, LP — a hedge-fund which launched with $400 million in seed capital from Harvard Management Company in 2017 — announced that it will cease operations, liquidate all assets, and return all of its capital to its investors in an update sent to the Securities and Exchange Commission on March 9.
Philanthropy’s Glass Ceiling: A Gender Disparity Among Harvard’s Top Donors
Harvard boasts the largest endowment of any university in the world and supplements its finances with hundreds of millions of dollars in donations annually. Despite the scale of Harvard’s philanthropic efforts, a sizable gender disparity persists among the University’s donors.
Net-Zero Emissions by 2050 Is ‘Too Slow,’ Three-Fourths of Surveyed Harvard Faculty Say
A significant majority of respondents to The Crimson’s annual survey of Harvard’s Faculty of Arts and Sciences — 73 percent — believe the Harvard Corporation’s commitment to achieve net-zero greenhouse gas emissions from its endowment by 2050 is “too slow.”
Politicians, Over 100 Harvard Faculty Back Complaint to State AG Alleging Harvard’s Investments Violate State Law
More than 100 Harvard faculty members and nine local elected officials backed a complaint filed with the Massachusetts Attorney General’s office last week challenging the legality of the University's investment in fossil fuels.
Harvard Graduate Council Passes Emergency Resolution on Atlanta Shootings, Memorandum on Harvard Email Access
The Harvard Graduate Council heard a presentation on University finances and approved a memorandum recommending extended access to Harvard email addresses during a public meeting Wednesday evening, which took place just hours after the Council passed an emergency resolution in response to last week’s shootings in Atlanta, Ga.
Bacow Hopes for ‘As Close to a Traditional’ Post-Covid Commencement As Possible for Classes of ’20, ’21
University President Lawrence S. Bacow said in an interview Thursday that Harvard intends for future in-person celebrations for the Classes of 2020 and 2021 to closely mirror traditional Commencement Exercises with just “as much pomp and circumstance.”
Harvard Could Be Eligible For $25 Million In Relief Funds Under Latest Stimulus Package, Per Report
Harvard may be eligible to receive nearly $25.5 million in aid from the latest federal stimulus package, according to an analysis published Monday by the American Council on Education, a higher education interest group.
Divestment Activists Allege Harvard’s Fossil Fuel Investments Violate State Law in Complaint to State AG
Activists with Fossil Fuel Divest Harvard filed a complaint with Massachusetts Attorney General Maura T. Healey ’92 on Monday, alleging that Harvard’s highest governing board is violating state law through its continued investments in the fossil fuel industry.
Endowment Sells Off Stocks in Major Technology Companies, Invests in Microsoft and Biopharmaceutical Companies in Fourth Quarter
In the final months of 2020, Harvard Management Company sold its shares in multiple major technology companies, including Google’s Alphabet, Inc., and made new investments in others, like Microsoft, while maintaining portfolio growth from the previous quarter.
Bloomberg Donates $150 Million for New Center for Cities
The gift is the second major donation Bloomberg Philanthropies — the philanthropic organization run by former New York City Mayor Michael R. Bloomberg — has given to Harvard in the last decade. Bloomberg, a graduate of Harvard Business School, previously funded the creation of the Bloomberg Harvard City Leadership Initiative, which provides training to mayors across the country.
Harvard’s 2020 Lobbying Expenditures Top Ivy League, Focusing on Pandemic, Immigration Legislation
University President Lawrence S. Bacow and representatives from the University’s Office of Federal Relations lobbied the White House and Congress on issues tied to student financial aid, research funding, and taxes on Harvard’s $41.9 billion endowment. Last year also brought legislation related to the coronavirus pandemic and immigration to the forefront of the University’s lobbying activities.
Harvard Unions and Activist Groups Express Support for Columbia Tuition Strike
Weeks after student organizers at Columbia University announced a tuition strike to protest their administration’s “flagrant disregard” for proposed university-wide demands, Harvard student activists have not indicated if they will organize a tuition strike of their own.
Harvard Management Company Has Invested in Bitcoin Since 2019, per Report
Harvard Management Company — the firm managing the University’s $41.9 billion endowment — may have bought Bitcoin as early as 2019 from market exchanges, per a Monday CoinDesk report.
Harvard Management Company Completes 'Five Year' Restructuring More Than One Year Early
Harvard Management Company has completed its “five-year” organizational and investment restructuring plan more than one year ahead of schedule, HMC CEO N.P. “Narv” Narvekar announced in a message to University affiliates Tuesday.
Japanese Government Advisor Threatened Harvard Management Company With Regulatory Probe In Critical Vote on Toshiba Chief Executive’s Replacement, per Report
A Japanese government advisor threatened Harvard Management Company with a regulatory probe if Harvard did not cast a critical vote in support of Toshiba’s management at the company’s annual shareholders meeting last July, Reuters reported last month.
Can a Biden White House Move Harvard Toward Divestment?
Joe Biden’s focus on environmental issues and his selection of a pro-divestment professor for a senior White House position have heartened Harvard divestment activists; however, questions remain about whether a new occupant of the White House will sway decisions made in Massachusetts Hall.
Harvard Will Not Apply For Federal Aid From Second Coronavirus Stimulus Package
Harvard will not apply for federal aid from the latest Congressional Covid-19 stimulus package, University spokesperson Jason A. Newton wrote in a statement Monday.
Harvard Will Net Nearly $7 Million From Latest Stimulus Package, per Report
Harvard is set to receive nearly $7 million in aid from the latest Congressional stimulus package, according to an analysis published Thursday by the American Council on Education, a higher education interest group.