University Finances


Harvard Management Co. Decreased Investments in Meta and Alphabet, Sold Biopharma Holdings in Q3

The Harvard Management Company sold a significant percentage of its direct holdings in Meta and Alphabet, as well as the entirety of its direct holdings in several acquired biomedical and pharmaceutical companies, during the third quarter of 2023.


Harvard Ended Fiscal Year 2023 with $186M Budget Surplus

Harvard ended fiscal year 2023 with a $186 million budget surplus — less than half of last year’s value — as the school faced rising costs from investments in its workforce and renewed activity on campus following the pandemic.


Harvard’s Endowment Could Deliver Poor Returns for the Second Year in a Row

One year after Harvard’s endowment reported a $2.3 billion drop in value — its first year of negative returns since 2016 — financial experts say the school could be headed towards a second straight year of poor investment results.


Santa Barbara Board Upholds Rejection of Reservoir Construction Project on Former HMC Holdings

The Santa Barbara County Board of Supervisors voted on Tuesday to uphold an earlier county decision that rejected a project to construct three water storage reservoirs on former Harvard University land holdings in central California.


Could Losing Legacy Admissions Sustain Racial Diversity?

With the fall of affirmative action, some have suggested that elite universities like Harvard could maintain racial diversity by eliminating legacy admissions preferences. But questions linger over whether dismantling the practice would lead to a meaningful expansion in diversity — and whether alumni donation dollars would wither.


Michael McNally To Lead Harvard FAS Fundraising Efforts as Associate Vice President and Dean of Development

Michael McNally, an education and healthcare fundraising official, will return to Harvard for a fourth time to serve as the Faculty of Arts and Sciences’ associate vice president and dean of development, FAS Dean Hopi E. Hoesktra and Vice President for University Alumni Affairs and Development Brian K. Lee announced Monday.


Ritu Kalra Named as Harvard CFO and VP for Finance

Ritu Kalra, who currently serves as Harvard’s director of the Office of Treasury Management, will ascend to the post of chief financial officer and vice president for finance, the University announced Tuesday afternoon.


‘You Can’t Eat Prestige’: Graduate Students and Teaching Fellows Strike Over Financial Aid Cuts

In March 1973, about 700 members of Harvard’s Graduate Students and Teaching Fellow Union braved four days of sub-zero temperatures to protest the newly introduced Kraus Plan, which ultimately reduced financial aid for graduate students.


Harvard Experiences 18% Jump in Direct Public Portfolio Value in Q1 2023

The value of Harvard Management Company’s direct public investments increased by 18 percent during the first quarter of 2023 as key tech stocks in its portfolio rallied.


Assets to Axes: How Harvard’s Land Investments Inspired Fear in Brazil’s Cerrado

Although the full extent of HMC’s former landholdings remain concealed behind a complex web of private equity firms, associated subsidiary companies and investment partners, what is clear is that HMC’s purchases contributed to a climate of anxiety, fear, and strain on Brazilian subsistence farmers.


Harvard House Renewal Project Delayed and Over Budget After Pandemic Setbacks

As the renovation of Adams House, one of Harvard’s undergraduate residential houses, enters its third phase this June, the University anticipates an unprecedented 12 to 14 percent rise in costs — nearly 10 percentage points higher than the traditional 4 percent benchmark.


Outgoing Harvard CFO Says ‘It’s Time to be Very Cautious’ Amid Rising Economic Turmoil

Outgoing Harvard Vice President for Finance and Chief Financial Officer Thomas J. Hollister said in a Thursday interview that the University should be “very cautious” in its financial management as the school confronts an increasingly uncertain economic climate.


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