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Crimson staff writer

Eli W. Burnes

Latest Content

Bacow at Convocation
Endowment

Bacow Met With U.S. Treasury Representative to Discuss Endowment Tax Guidance

Bacow recently met with an official from the Treasury Department, which is responsible for developing regulations for the new endowment tax.

Fitzsimmons Courthouse
Fundraising

Harvard Admissions Trial Could Affect Donations — But Experts Are Divided Over How

While some big-ticket donors say the ongoing admissions lawsuit won’t change their giving patterns, fundraising experts are divided on the issue.

Wasserstein Hall
Politics

New Harvard Student Campaign Calls on University to Divest From Prisons

The group wants to sever Harvard's "financial ties to the prison-industrial complex by advocating for... total divestment from all corporations whose existence depends on the capture, caging, and control of human beings."

Harvard Management Company
University Finances

Harvard Management Company Mum on Number of Employees

Amid a structural overhaul, HMC has kept mum about its number of employees. The silence is characteristic of an organization that is often a black box.

Columbia Endowment Return
Endowment

Harvard Grows Revenues, Net Assets, But HMC Chief ‘Not Pleased’ With Endowment Returns

After Harvard's endowment saw the second-worst rate of return on investment in the Ivy League, HMC CEO N.P. “Narv” Narvekar said in the latest annual financial report that he is "not pleased" with the past year's returns.

Endowment Returns Across the Ivy League
Endowment

Harvard Endowment Returns Lag Behind Peers Again

While Harvard’s return on its endowment marked an improvement from last year’s “disappointing” results, the University’s financial growth continues to lag behind its peer institutions.

Harvard Endowment Returns 2018
Endowment

Experts Plead Patience Over Endowment Results

Experts say it is still too early to take this year’s endowment returns as a bellwether for Harvard Management Company CEO N.P. “Narv” Narvekar’s strategy.

Endowment Returns FY 2017
Endowment

Harvard Returns 10 Percent on Endowment ‘With Much Work Ahead’

The returns, bringing the endowment's total value to $39.2 billion, mark an improvement from last year’s return of 8.1 percent and a serious turn-around from the loss of $2 billion in fiscal year 2016.

Harvard Management Company
Harvard Management Co

Harvard’s Farmland Holdings Come Under Fire In New Report

Harvard Management Company has spent more than $1 billion to buy more than 800,000 hectares of farmland, a new report estimates.

Tommy's Lunch Closes
Square Business

Remembering Tommy's Lunch, 'A Harvard Institution'

From 1958 to 1992, Tommy’s Lunch served greasy late-night food to generations of Harvard students. The restaurant’s sudden closure in Nov. 1992 shocked loyal customers and fellow Square merchants.

Water Feature Graphic
Endowment

In Drought-Stricken Central California, Harvard Hopes to Turn Water Into Wine

Harvard owns 7,500 acres of vineyards in Cuyama Valley, California. Water scarcity threatens the future of agriculture in the region.

University Hall
Endowment

Tax Bill Changes Landscape for Potential Harvard Donors

This could be bad news for organizations that depend heavily on donations—including institutions of higher education like Harvard.

Harvard Management Company
University Finances

Harvard Money Manager Departs

Melinda Barber, a managing director at Harvard Management Company—the University’s investment arm—will leave Harvard, Bloomberg reported Tuesday.

Capitol Building
College Finance

Republican Tax Plan Could Mean Added Business Income Tax for Harvard

​Hidden in the Tax Cuts and Jobs Act passed last year is a change in the way taxes are calculated for nonprofits that could lead to increased expenses for Harvard.

Shareholder 1
Harvard Management Co

'Hard Lines to Draw': Harvard Balances Roles as University, Investor

Both a major investor and an educational institution, Harvard seeks to strike a difficult balance between considering ethical responsibilities while remaining apolitical.

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