University Finances
Harvard Plans To Renovate 4 Major Libraries Ahead of 400th Anniversary
Martha Whitehead, vice president of the Harvard Library, announced plans to renovate the four major libraries in Harvard Yard — Widener, Lamont, Pusey, and Houghton — during a faculty meeting last week.
Harvard Student Government Approves PSC Petition for Referendum on Israel Divestment
The Harvard Undergraduate Palestine Solidarity Committee circulated and passed a petition on Tuesday initiating a referendum to obtain student opinions on Harvard’s financial ties to Israel.
Divinity School Student Government Calls On Harvard to Divest from ‘Illegal Occupation of Palestine’
The Harvard Divinity School Student Association passed a resolution Friday morning calling on the University to divest from entities involved in “violations of international law and human rights against Palestinians.”
Johns Hopkins Administrator Kofi Ofori Named Harvard FAS Chief Financial Officer
Kofi N. Ofori will serve as Chief Financial Officer of the Faculty of Arts and Sciences, FAS Dean for Administration and Finance Scott Jordan announced Thursday.
Ivy League Federal Lobbying Expenditure Rose 12% in 2023, Harvard Spent $530,000
Harvard spent $530,000 on lobbying the federal government in 2023, the lowest amount spent by the University in the past nine years.
In Private, Garber Acknowledges Harvard Has a Fundraising Problem
Interim Harvard President Alan M. Garber ’76 has publicly pushed back against suggestions that the University is facing a fundraising crisis. But in private, Garber has struck a different tone with alumni and donors.
Harvard Endowment’s Fossil Fuel Investments Drop Below 2%
The Harvard Management Company — which stewards the University’s $50.7 billion endowment — reported the endowment’s investments in fossil fuels have fallen below 2 percent, as the University remains on pace to fully divest from the industry by 2050.
Michael Chae ’90, Blackstone CFO, Joins Harvard Management Company’s Board of Directors
The Harvard Corporation — the University’s highest governing body — tapped Michael S. Chae ’90, chief financial officer of Blackstone, to become the newest member of the Harvard Management Company’s board of directors.
Former Harvard Senior Fellow William Lee ’72 Faces Ethics Complaints Over Potential Conflict of Interest with Harvard
Former Harvard Corporation Senior Fellow William F. Lee ’72 is facing two ethics complaints alleging his dual roles at Harvard and law firm WilmerHale created a conflict of interest, the New York Post reported Thursday.
U.S. Justice Dept. Charges Harvard Kennedy School Fellow with Arms Trafficking
Harvard Kennedy School fellow Peter B. Ajak was charged with conspiring to illegally export “millions of dollars’ worth” of weapons to armed groups in South Sudan, according to the U.S. Department of Justice.
Harvard Attracts Investors, Selling $750 Million in Taxable Bonds
After two credit rating agencies affirmed the University’s AAA rating, Harvard sold $750 million in taxable bonds at an advantageous rate, demonstrating strong investor faith in the school despite weathering a series of scandals last fall.
Starting This Spring, Google to Limit Storage on Higher Education Accounts
Harvard University Information Technology will begin enforcing a default storage limit of 25 gigabytes on Google accounts starting this spring, according to a statement released by Faculty of Arts and Sciences administrators last week.
Harvard Affiliates Testify Against Oil Drilling on California Harvard-Owned Land
The Santa Barbara County Planning Commission voted to approve an exploratory oil drilling project on former Harvard land holdings in California on Jan. 31, following testimony on environmental repercussions.
Harvard’s AAA Credit Rating Reaffirmed by S&P Amid Leadership Crisis and Donor Turmoil
Harvard will maintain its AAA credit rating from S&P, the credit rating agency announced in a report on Thursday, easing concerns that the University could see its rating downgraded amid the ongoing leadership crisis and a growing list of major donors cutting ties with the school.
Harvard University to Enter the Debt Market for $750 Million Taxable Bond Sale
Harvard will officially enter the debt market on Friday when it issues $750 million in taxable bonds with the intention to use the capital raised for “general corporate purposes” and to pay the costs of bond issuing, according to a preliminary offering notice released on Thursday.
‘Keeper of the Keys’: Meet the Secretary of Harvard’s Secretive Governing Boards
Marc L. Goodheart ’81 is the most powerful person at Harvard no one has ever heard of.
Harvard Plans $1.65 Billion Debt Financing Amid Donor Turmoil
Harvard announced it is exploring a $1.65 billion bonds sale in an attempt to raise capital through debt financing despite poor macroeconomic conditions, a move that comes after the University faced months of donor backlash.
Proposed Mass. Bill Would Impose 2.5% Tax on Harvard Endowment
The Massachusetts Joint Committee on Revenue held a hearing Wednesday on a bill which would introduce a tax on Harvard’s endowment.
Billionaire Megadonor Ken Griffin Says He Will Stop Donations to Harvard
Billionaire hedge fund manager Kenneth C. Griffin ’89 said he is pausing donations to Harvard over its handling of antisemitism on campus, a move that comes less than one year after donating $300 million to the Faculty of Arts and Sciences.
Interim Harvard President Garber to Remain on Pharma Company Board
Interim Harvard President Alan M. Garber ’76 will remain on the board of one pharmaceutical company while leading the University, a decision that complicates his relationship with the Harvard Management Company and raises questions about potential conflicts of interests.
Harvard Endowment Executives Meet with Silicon Valley Investors Amid University Turmoil
Harvard Management Company executives met with leading venture capital and private equity investors in Silicon Valley last week amid investor concerns over the University’s response to the Israel-Hamas war and allegations of antisemitism on campus.
Ten Stories That Shaped 2023
In 2023, Harvard had a tumultuous year. Claudine Gay’s first semester ended amid a leadership crisis as she came under fire for her response to tensions on a campus divided by the Israel-Hamas war and faced allegations of plagiarism. Harvard’s legacy and donor preferences in admissions also faced national scrutiny following the Supreme Court’s landmark ruling striking down the University’s affirmative action policy. Across campus, scandal after scandal hit parts of the University. Here, The Crimson looks back at the 10 stories that shaped 2023 at Harvard.
Harvard President Claudine Gay Planning Travel to Asia During Spring Break, First International Trip Since Assuming Office
Harvard President Claudine Gay is planning to travel to Asia in March for her first international trip since assuming office in July, she said in an interview with The Crimson earlier this month.
D. Ronald Daniel, Former Harvard Treasurer Who Saw Endowment Quadruple During 15-Year Tenure, Dead at 93
D. Ronald Daniel, a longtime treasurer of Harvard University who saw the University’s endowment quadruple in value during his 15-year tenure, died on Dec. 16 at his home in New York City. He was 93.
Major Harvard Donor Len Blavatnik to Pause Donations to Harvard, Report Says
Leonard V. Blavatnik, a billionaire philanthropist and major Harvard donor, will cease donations to the University over its handling of antisemitism on campus, Bloomberg reported Thursday, citing an anonymous source.