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University Finances

University Hall Morning
Endowment

Harvard Prison Divestment Campaign Publishes Report, Renews Demands

The Harvard Prison Divestment Campaign released a report Wednesday that estimated the University has at least $3 million invested in companies tied to the prison industry and urged administrators to divest all their endowment holdings in such prison-related companies.

Lawrence Bacow
Fundraising

Harvard Retains External Counsel to Assist Epstein Internal Review

University President Lawrence S. Bacow said in an interview Monday an external law firm is assisting the Office of the General Counsel in their review of donations made to Harvard by billionaire and convicted sex offender Jeffrey E. Epstein.

Federal Reserve Bank of Boston - HMC Office
Endowment

Harvard Submits Public Comments to Endowment Tax Rules

Harvard and more than 30 other colleges and universities jointly submitted their formal opposition to the United States Treasury’s proposed rules for implementing a tax on some universities’ endowments that was originally passed into law in December 2017.

Faculty Meeting 10/1
FAS

FAS Dean of Finances Warns of ‘Ominous’ Financial Outlook at Harvard Faculty Meeting

In a presentation of the FAS Dean’s annual report on the school’s finances and hiring, Dean of Administration and Finance Leslie A. Kirwan warned the faculty of “ominous financial signs on the horizon,” including uncertain federal research funding and the endowment tax that took effect this year.

Bacow Comment
University Finances

Harvard Affiliates Call On Bacow to Support Prison Divestment Following Slavery Analogy

In the wake of University President Lawrence S. Bacow’s comments last week comparing Harvard’s relationship with donors to slavery, several campus organizations and affiliates have called for Bacow to support divestment of the University’s endowment from companies with ties to the prison system.

Massachusetts Hall
University Finances

Bacow Apologizes for Comparing Harvard Schools’ Relationships With Donors to Slavery

University President Lawrence S. Bacow used the 13th Amendment as an analogy to compare the University’s wealthy donors to freed slaves Tuesday, the Boston Globe reported Saturday.

Harvard Management Company
University Finances

Harvard Endowment Returns 6.5 Percent for Fiscal Year 2019

The returns were announced in a note from HMC CEO N.P. “Narv” Narvekar to University affiliates Friday morning, and represent the lowest return rate in two years — 2018 saw a 10.1 percent return, while 2017 yielded 8.1 percent. Despite the low rate, the endowment exceeded $40 billion for the first time in its history.

Mass Hall at Night
Central Administration

Harvard Office of the General Counsel to Review Epstein Donations

Harvard’s Office of the General Counsel will conduct a review of billionaire donor and convicted sex offender Jeffrey E. Epstein’s donations to the University, Vice President and General Counsel Diane E. Lopez announced in an email to Harvard affiliates Friday afternoon.

Massachusetts Hall
University Finances

‘I Profoundly Regret Harvard's Past Association With Him’: Bacow Announces Univ. Will Donate Unspent Epstein Gifts

"Epstein’s connections as a donor to this University, and other institutions, raise important concerns. With that in mind, two weeks ago I asked for a review of his donations to Harvard. Our decentralization makes such a review more complicated than it would be at some other institutions," Bacow wrote in an email to University affiliates Thursday evening.

Divest Elmwood 1
College

Divest Protestors Pay Bacow a Morning Visit at Elmwood

Divest Harvard — a group that advocates for the University to withdraw its endowment holdings from the fossil fuel industry — sang songs, read poems, and chanted in front of Elmwood, the University President’s historic residence.

Divest Sign
Endowment

As the Amazon Burns, Students Call on Harvard To Divest from Farmland Holdings

In a statement released last week, Divest Harvard specifically condemned the role Brazilian agribusiness has played in the Amazon fires. The statement noted that the Harvard Management Company — the University’s investing arm — owns 300,000 hectares of land in the Brazilian Cerrado.

Divestment Graduation Caps
College Finance

Ahead of Commencement, Divestment Organizers Call on Alumni to Suspend Donations to Harvard

Harvard fossil fuel and prison divestment activists launched pledges this week calling on alumni to withhold donations to the University until administrators concede to their demands.

Divestment Full Spread
Central Administration

A New Day for Divestment

Student activism at Harvard has evolved over the years, and while divestment is nothing new, it’s now become students’ favorite tactic.

Sackler Building
Fundraising

The Ethics of Harvard Fundraising

Amid outcry over controversial gifts to the University, Harvard has kept its donation acceptance policies under wraps.

Federal Reserve Bank of Boston - HMC Office
University Finances

Harvard-Affiliated Hedge Fund to Shut Down

The fund announced its decision to “terminate the business of the funds and wind up its affairs” in an April letter to investors, but did not specify the precise reason the fund is closing, the Wall Street Journal reported last week.

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