Advertisement

Hidden Under Harvard's Mattress: The Idiosyncrasies of the Endowment

According to Clendenning, the College was able to work with the donor's heirs to release the president from this duty.

Fortunately for Harvard, most high-profile donors tend toward generalized giving or donations made to fill an existing need at the University.

Sidney R. Knafel '52, whose donations will fund the construction of the Knafel Center near Coolidge Hall in the near future, says that his gifts were also tailored to Harvard's needs.

"If Neil [Rudenstine] had come to me and said we need this amount of funds [$20 million] for the library, for scholarships, or for Latin and Greek videotape projects, I would have had equal motivation [to donate]," Knafel says.

The Development Office also keeps major donors informed about the status of their gifts.

Advertisement

"Everything was done properly, and furthermore we get reports about each of the funds on the annual basis," says Carl H. Pforzheimer III '58.

A final modern trump card has evolved for development officers seeking to avoid the Newsboy scholarships of their day. Nearly all large gifts to Harvard are now made with the stipulation that Harvard may shift the funds away from the intended use if that purpose becomes outdated.

Recommended Articles

Advertisement