University Finances
Harvard Corporation Approved New Voting Guidelines on Climate, Racial Equity, and Cybersecurity in 2022
Harvard’s Corporation Committee on Shareholder Responsibility approved new voting guidelines in 2022 on climate commitments, racial equity audits, and cybersecurity, according to an annual report released Thursday.
Financial Aid or Financial Burden? Harvard Law School Alumni Say the School’s Low Income Protection Plan Falls Short
LIPP aims to reduce the burden of student debt by subsidizing loan repayments for graduates pursuing public interest jobs — but students and alumni maintain that LIPP fails to sufficiently support graduates.
Harvard CFO Thomas Hollister To Retire in June 2023
Harvard Vice President for Finance and Chief Financial Officer Thomas J. Hollister will step down and retire at the end of the academic year after eight years serving in the role.
Harvard Endowment Value Falls $2.3 Billion Following First Negative Returns Since 2016
The value of Harvard University’s endowment fell by $2.3 billion in fiscal year 2022 after the Harvard Management Company delivered a 1.8 percent loss on its investments — its first year of negative returns since 2016.
By the Numbers: Harvard’s FY 2022 Financials
In fiscal year 2022, the value of Harvard’s endowment dropped by $2.3 billion while the University’s revenue streams rebounded. See the highlights from Harvard’s Annual Financial Report below.
For 11th Year in a Row, Harvard Falls Short of Boston’s PILOT Request
For the 11th consecutive year, Harvard did not pay the full amount requested by the City of Boston as part of a program in which nonprofits voluntarily give money to the city in lieu of taxes.
Harvard Ended Fiscal Year 2022 with $406 Million Budget Surplus as Revenues Exceeded Pre-Pandemic Levels
Harvard ended fiscal year 2022 with a $406 million budget surplus, its largest in at least the last two decades, as revenues rose above pre-pandemic levels following two consecutive years of decline.
Harvard Medical School Dean Says HMS Has Improved Financial Stability at State of the School Address
Harvard Medical School Dean George Q. Daley ’82 said Wednesday that HMS is “more financially stable than at any time in recent history” after recovering from pandemic-era financial stress.
Harvard Has Reported Positive Endowment Returns for Five Straight Years. That Could Change this Year.
With high inflation and rising interest rates rattling financial markets, the Harvard Management Company, the University’s investment arm, could be on the brink of delivering its first negative annual returns in five years.
Harvard Bolsters Investments in Google, Semiconductor Industry
The Harvard Management Company shored up its investments in the technology industry last quarter, boosting its shares of Alphabet — the parent company of Google — by nearly 40 percent while increasing its holdings in the semiconductor companies.
‘There’s Very Little There’: Technologists, Including at Harvard, Urge Lawmakers to Resist Crypto’s Siren Song
In recent years, crypto proponents have poured millions of dollars into lobbying efforts in Washington. This month, a group of concerned technologists are pushing in the opposite direction.
GOP Congressman Takes Aim at Harvard’s Potential Endowment Links to Chinese Companies
U.S. Representative Gregory F. Murphy (R-N.C.) called on Harvard to disclose and divest its endowment from any potential holdings in Chinese companies deemed a threat to national security by the federal government in a letter to the school last week.
Bacow Presses Lawmakers on University Endowment Tax, Foreign Funding Disclosures During Trip to Washington
Last week University President Lawrence S. Bacow traveled to Washington, D.C., to lobby against taxes on large university endowments and tightened federal regulations for foreign funding disclosures.
Harvard President Lawrence Bacow Made $1.1 Million in 2020, Financial Disclosures Show
Harvard University President Lawrence S. Bacow earned $1.13 million in 2020, a pay cut from his compensation during the first full year of his presidency in 2019.
Divest Harvard Releases Report Calling for ‘Reinvestment,’ University Governance Reform
Fossil Fuel Divest Harvard — a student and alumni group that for years advocated that the University divest its endowment from fossil fuels — released a report last week calling on the school to invest more in environmental causes and local municipal governments and to reform its governing boards.
Harvard CFO Says the University’s Revenues Have ‘Rebounded’ to Pre-Pandemic Levels
Vice President for Finance and Chief Financial Officer Thomas J. Hollister said the University’s revenues have “rebounded” to pre-pandemic levels, placing Harvard in a “healthy” financial condition, in an interview last Thursday.
Harvard Issues First-Ever Green Bonds to Finance Campus Construction Projects
Harvard issued its first-ever green bond — debt instruments that align with international sustainability standards — earlier this month.
Harvard Pledges $100 Million to Redress Ties to Slavery
Harvard committed $100 million to redress its ties to slavery after a historic report released Tuesday found that slavery played an “integral” role in shaping the University.
IT Oversight Left Thousands of Harvard Internal Files Vulnerable — Again
Last fall, a massive security oversight allowed anyone with a Harvard key access tens of thousands of administrative files. Up until recently, a second data insecurity allowed Harvard affiliates to still view thousands of documents.
Harvard Divinity School Will Increase Stipend Amounts for Scholarship Packages This Fall
The Harvard Divinity School will increase its stipend payouts for need-based and merit scholarship packages beginning this fall.
After Initial Sell-Off, Harvard Endowment Has Slowly Increased Number of Public Holdings Under Narvekar
The number of stocks in the Harvard endowment has slowly crept back up in recent years after the Harvard Management Company sold off the vast majority of its public holdings when N.P. “Narv” Narvekar took over as its CEO.
Harvard Says it is Not Directly Invested in Russian Companies, but Previous Donations Draw Scrutiny
Harvard does not hold direct investments in Russian companies, University spokesperson Jason A. Newton wrote in a statement to The Crimson Wednesday.
Endowment Scraps Apple, Slashes Facebook Holdings in Fourth Quarter
HMC’s acquisitions and liquidations were reported in its latest filings with the Securities and Exchange Commission, which requires investment managers who oversee more than $100 million in assets to disclose their public securities portfolio each quarter.
Harvard Management Company Operations Set to Become Carbon Neutral
The Harvard Management Company will be carbon neutral in its internal operations for fiscal year 2022 — a first among university endowment offices in the United States — according to the company report released Thursday.
Ten Stories That Shaped 2021
At Harvard, 2021 was a year marked by change. The school’s long-awaited return to in-person operations injected new life into a campus that had been left dormant for over a year by Covid-19. And in an unexpected shift, the University announced its intention to divest its endowment from fossil fuels after a decade of public pressure. Separately, faculty controversies — including a federal conviction and a high-profile departure — ignited debates that rippled across academia. Below, The Crimson looks back at the 10 stories that shaped the last year at Harvard.