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.
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.
For the 11th consecutive year, Harvard did not pay the full amount requested by the City of Boston as part of a program in which nonprofits voluntarily give money to the city in lieu of taxes.
Harvard Medical School Dean Says HMS Has Improved Financial Stability at State of the School Address
Harvard Medical School Dean George Q. Daley ’82 said Wednesday that HMS is “more financially stable than at any time in recent history” after recovering from pandemic-era financial stress.
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.
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.
‘There’s Very Little There’: Technologists, Including at Harvard, Urge Lawmakers to Resist Crypto’s Siren Song
In recent years, crypto proponents have poured millions of dollars into lobbying efforts in Washington. This month, a group of concerned technologists are pushing in the opposite direction.
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.
Bacow Presses Lawmakers on University Endowment Tax, Foreign Funding Disclosures During Trip to Washington
Last week University President Lawrence S. Bacow traveled to Washington, D.C., to lobby against taxes on large university endowments and tightened federal regulations for foreign funding disclosures.
Harvard University President Lawrence S. Bacow earned $1.13 million in 2020, a pay cut from his compensation during the first full year of his presidency in 2019.
Fossil Fuel Divest Harvard — a student and alumni group that for years advocated that the University divest its endowment from fossil fuels — released a report last week calling on the school to invest more in environmental causes and local municipal governments and to reform its governing boards.
Vice President for Finance and Chief Financial Officer Thomas J. Hollister said the University’s revenues have “rebounded” to pre-pandemic levels, placing Harvard in a “healthy” financial condition, in an interview last Thursday.
Harvard issued its first-ever green bond — debt instruments that align with international sustainability standards — earlier this month.