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University Finances

Mass State House
Endowment

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.

Kenneth Griffin
Central Administration

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.

Garber Finance Graphic
Central Administration

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 Management Company
Fundraising

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.

Harvard Yard University Hall

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.

Claudine Gay
Central Administration

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
Central Administration

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.

Massachusetts Hall
Central Administration

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.

Harvard Management Company
Endowment

HMC Managing Director Joined Business Leaders and Investors in Exclusive Israel Trip

Managing Director of Investment for the Harvard Management Company, Adam Goldstein, joined 65 business leaders and investors for a five day trip to Israel this week.

Ritu Kalra Courtesy
Fundraising

New Harvard CFO Ritu Kalra Says University Has ‘Repair Work To Do’ Amid Controversy Over Israel-Hamas Response

Harvard Chief Financial Officer Ritu Kalra acknowledged that officials tasked with fundraising have their work cut out for them as they rebuild relationships with donors dismayed by the controversy enveloping the University over its messaging on the Israel-Hamas war.

Massachusetts Hall
Central Administration

Harvard’s Gift Officers Are Worried About Backlash Over the School’s Israel-Hamas Response. Here’s Why.

Harvard gift officers are privately worried that some longtime donors will stop giving as a result of the controversy over the University’s response to the Israel-Hamas war and concerns about antisemitism on campus, five Harvard donors said in interviews over the past month.

Harvard Management Company
Central Administration

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 Yard University Hall
FAS

Faculty of Arts and Sciences Ends Fiscal Year 2023 with $62 Million Surplus

Harvard’s Faculty of Arts and Sciences reported a surplus of $62 million for fiscal year 2023, according to a report presented at a faculty meeting Tuesday.

Federal Reserve Bank of Boston - HMC Office
University Finances

Stop Harvard Land Grabs Coalition Demands Reparations for Former Harvard Farmland Purchases in Brazil

The Stop Harvard Land Grabs Coalition reiterated calls for the University to provide reparations to residents impacted by former holdings in Brazilian farmlands at an annual hybrid panel Wednesday.

Boston City Hall
City Politics

Harvard Fails to Meet Boston PILOT Request for 12th Straight Year As Activists Seek Program Revamp

For the 12th time since Boston began making formal requests under revised guidelines in fiscal year 2012, Harvard has again failed to meet the city’s specified contribution to its Payment in Lieu of Taxes program.

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