University Finances

Harvard Without Legacy Graphic

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.

HMS Price Tag Graphic
Central Administration

Want to Rename Harvard Medical School? The Price is $1 Billion

Harvard Medical School’s naming rights are for sale. The asking price? An unrestricted donation of $1 billion.

Flourish Thumbnail
Central Administration

Harvard Received $218M in Foreign Funding Since January 2022

Harvard received upwards of $218 million in foreign funding since January 2022, according to recent data from the Department of Education.

Michael McNally Portrait

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.

Moakley Courthouse

Harvard Will Have to Cover Own Legal Fees From Anti-Affirmative Action Case, First Circuit Rules

A month after the Supreme Court ruled against Harvard and effectively struck down affirmative action in higher education admissions, the University was dealt another legal blow — this time, to its pocketbook.

Joseph Moakley Courthouse

Judges Cast Doubt on Harvard’s Claim that Insurance Firm Must Cover Admissions Lawsuit Fees

A panel of three federal judges appeared skeptical of Harvard’s claim that Zurich American Insurance Company is responsible for covering the University’s remaining legal expenses during a hearing Wednesday.

Ritu Kalra Courtesy
Central Administration

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.

Graduate Student and Teaching Fellow Union Strike 1973

‘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.

HMC Building
University Finances

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.

Paul Finnegan
Central Administration

Barakett to Become Harvard Treasurer as Finnegan Steps Down

Timothy R. Barakett ’87 will replace Paul J. Finnegan ’75 as the University’s treasurer beginning July 1, Harvard announced Wednesday afternoon.

Penny Pritzker '81 Introduces Claudine Gay as Harvard's 30th President
Central Administration

CFO Search Has Identified ‘Very Good Candidates,’ Says Harvard Corporation Senior Fellow Penny Pritzker ’81

Harvard Corporation senior fellow Penny S. Pritzker ’81 said “several very good candidates” have been identified in the search for the University’s next chief financial officer.

Lawrence S. Bacow
Central Administration

Outgoing Harvard President Lawrence Bacow Earned $1.3 Million in 2021, Financial Disclosures Show

Harvard University President Lawrence S. Bacow earned more than $1.3 million in calendar year 2021, a pay increase from the $1.1 million he made in 2020.

HMC Brazil Cover Image

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.

Adams Renovations

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.

Hollister on Widener Steps
Central Administration

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.