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University Finances

Thomas Hollister
Central Administration

Harvard CFO Thomas Hollister To Retire in June 2023

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.

Harvard Management Company
Endowment

Harvard Endowment Value Falls $2.3 Billion Following First Negative Returns Since 2016

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.

Mass. Hall New Angle
University Finances

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.

PILOT Payment Graph
City Politics

For 11th Year in a Row, Harvard Falls Short of Boston’s PILOT Request

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.

University Finances

By the Numbers: Harvard’s FY 2022 Financials

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.

Harvard Medical School
Harvard Medical School

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.

HMC Building
Endowment

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 Management Company
Endowment

Harvard Bolsters Investments in Google, Semiconductor Industry

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. Capitol
University Finances

‘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.

Harvard Management Company
Endowment

GOP Congressman Takes Aim at Harvard’s Potential Endowment Links to Chinese 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.

Harvard President Lawrence S. Bacow
Endowment

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.

Lawrence S. Bacow
FAS

Harvard President Lawrence Bacow Made $1.1 Million in 2020, Financial Disclosures Show

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.

Divest Rally
Student Groups

Divest Harvard Releases Report Calling for ‘Reinvestment,’ University Governance Reform

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.

Thomas Hollister
University Finances

Harvard CFO Says the University’s Revenues Have ‘Rebounded’ to Pre-Pandemic Levels

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.

Massachusetts Hall
University Finances

Harvard Issues First-Ever Green Bonds to Finance Campus Construction Projects

Harvard issued its first-ever green bond — debt instruments that align with international sustainability standards — earlier this month.

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