Faculty of Arts and Sciences Dean Claudine Gay made her second historic first on Thursday when Harvard announced her selection as the University’s 30th president — the first person of color to hold the role.
Harvard Chief Financial Officer Thomas J. Hollister said in an interview Wednesday the University is now facing rising costs “across the board” as the school’s expenses are “bouncing back.”
Prominent jazz musician Esperanza E. Spalding, a professor of the practice in Harvard’s Music Department, announced in a Monday email to department affiliates that she will depart the University following disapproval of her proposal for “decolonial education.”
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.
Each fall, Harvard releases an annual financial report that provides insights into the University’s budget and investment strategy. For years, the endowment section of the report looked largely the same, with data on HMC’s targets, as well as returns across asset categories. But this fall, it abandoned the longtime practice of disclosing investment performance by asset class.
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.
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.
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 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 has decried a bill passed under the Trump administration that includes a tax on wealthy university endowments. But is the impact of the provision as significant as the University claims it to be?
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.
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.
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