University Finances


Harvard Will Cut Endowment Payout, Draw on Restricted Funds in FY2021 to Mitigate Revenue Shortfall

The Harvard Corporation — the University’s highest governing body — moved to reduce the endowment payout for Fiscal Year 2021 by 2 percent and to make a special assessment of restricted assets as it projects a $750 million revenue shortfall.


Harvard Management Company Public Securities Holdings Plummet in First Quarter

In the first quarter of 2020, as the novel coronavirus pandemic began to roil the global economy, the overall value of public securities held by Harvard Management Company plummeted 32 percent, from $945 million to $639 million.


Experts Say Harvard May Encounter ‘Pitfalls’ On its Way To A Greenhouse Gas-Neutral Endowment

Harvard pledged last month to achieve net-zero greenhouse gas emissions in its endowment by 2050. But experts say a number of intermediate steps may pose logistical and environmental challenges for the University.


Harvard Medical School Faculty Pen Letter to President Bacow Expressing Disappointment with Endowment Decision

Roughly 170 members of the Harvard Medical School faculty and their supporters sent a letter to University President Lawrence S. Bacow on Sunday criticizing the school’s plan to commit its $40.9 billion endowment to net-zero greenhouse gas emissions by 2050.


Harvard Extends Pay and Benefits to Employees Amid Estimated $415 Million Shortfall

Harvard will extend guaranteed pay and benefits to directly employed staff and contract workers through June 28 as it faces a $415 million shortfall this fiscal year, Harvard Executive Vice President Katherine N. Lapp wrote in an email to Harvard faculty and staff Tuesday morning.


Harvard Asked Its Lawyers to Review the University’s Ties to Jeffrey Epstein. Here’s What They Found.

Harvard will adopt new donation guidelines as a result of its review of donations from the late billionaire and convicted sex offender Jeffrey E. Epstein, University President Lawrence S. Bacow announced in an email to affiliates Friday afternoon.


Radcliffe Institute and Divinity School Particularly Vulnerable to Endowment Decreases

Losses to the University’s endowment due to the coronavirus pandemic may have a disproportionate impact on the Radcliffe Institute for Advanced Study and the Harvard Divinity School, which draw high proportions of their budget from the endowment.


Harvard Will Not 'Seek or Accept' CARES Funding

Harvard will not “seek or accept” the nearly $9 million in funds allocated to it by the Coronavirus Aid, Relief, and Economic Security Act, according to a Wednesday statement from University spokesperson Jonathan L. Swain.


Harvard Faculty Mixed on Carbon-Neutral Endowment Commitment

Though most faculty members support the University’s commitment to net-zero greenhouse gas emissions from its endowment by 2050, they are divided over whether the plan — announced on Tuesday — goes far enough.


Divest Harvard Calls University’s Carbon-Neutral Endowment Commitment 'Insufficient'

Divest Harvard, a student group calling on the University to divest from the fossil fuel industry, argues that Harvard’s commitment to making its endowment carbon-neutral by 2050 falls short of achieving their goal of total withdrawal from the industry.


Trump Says Harvard Will Have to 'Pay Back' CARES Funds

President Donald Trump said in a press conference Tuesday evening that he would request that Harvard return the nearly $9 million it was granted as part of the Coronavirus Aid, Relief, and Economic Security Act.


Harvard Endowment Commits to Net-Zero Greenhouse Gas Emissions by 2050

The Harvard Management Company has committed to achieving net-zero greenhouse gas emissions by 2050, University President Lawrence S. Bacow wrote in a message to faculty Tuesday afternoon.


Harvard Will 'Apply the Tourniquet' On Non-Essential Spending, Per CFO Hollister

As Harvard grapples with the financial consequences of the coronavirus pandemic, Vice President for Finance and Chief Financial Officer Thomas J. Hollister said the University will focus its existing funds on teaching and research.


Harvard Has The Largest University Endowment in the World. CFO Hollister Says It Has Its Limits.

As the coronavirus pandemic devastates the global economy, Vice President for Finance and Chief Financial Officer Thomas J. Hollister said in a Thursday interview that administrators will seek to balance the University’s long-term financial welfare with its need for immediate financial support when utilizing the school’s endowment.


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