After more than a year of uncertainty, the Internal Revenue Service issued proposed guidance on Friday for higher education institutions — including Harvard — required to pay a new tax on their endowments.
Student activism at Harvard has evolved over the years, and while divestment is nothing new, it’s now become students’ favorite tactic.
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.
Harvard has reduced its debt load by roughly $1 billion and increased its reserves in preparation for a potential future recession, University Chief Financial Officer and Vice President for Finance Thomas J. Hollister said in an interview Wednesday.
Harvard Management Company is now investing in a new cryptocurrency, Blockstack, according to Securities and Exchange Commission filings released Wednesday, a move some experts have said is still unusual for investors of its magnitude.
New Harvard Management Company Website Removes Divestment Information, Defends Natural Resources Holdings
Harvard Management Company updated its website within the last month to remove any mention of past instances of divestment and to include references to its protocols on its investment in land and agriculture.
Among some of the corporations that have expanded into the region in recent years is an unlikely investor — the Harvard Management Company. HMC, the University’s investment arm, oversees Harvard’s nearly $40 billion endowment.
Harvard Management Company, the University’s investment arm, invests more heavily in technology companies than the other four largest university endowments in the country, according to the most recent U.S. Securities and Exchange Commission filings.
Harvard raised $1.42 billion in fiscal year 2018, the University’s largest-ever annual fundraising sum, and a higher education record. The total represents a more than 10 percent growth over its fiscal year 2017 donation income.
Amid Harvard’s dismissal of calls for fossil fuel divestment, Harvard Management Company — the group that oversees the University’s $39.2 billion endowment — has been one of the lead investors in a methane emissions reduction working group started in 2017.
Harvard voted on shareholder proposals concerning digital media content and corporate tax policy for the first time in 2018, among a series of other issues that have previously arisen, according to the University’s annual shareholder responsibility report published Tuesday.
He Jiankui vowed to defend his work in an email to The Crimson Wednesday. He's email appeared to mark his first public communication in at least a week — and came after multiple news outlets reported the scientist had seemingly gone missing.
University President Lawrence S. Bacow praised the Medical School’s health policy department and discussed the importance of higher education at a symposium at the school Tuesday.
While this arrangement offers a new source of much-needed funding, it also raises challenging ethical and management questions for the school.
The Blavatnik Family Foundation will donate $200 million to Harvard Medical School, the largest gift in the school’s history, the University announced Thursday.