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University Finances

Harvard Management Company
Central Administration

Barakett to Chair Harvard Management Company’s Board of Directors, Finnegan Will Remain on Board

University Treasurer Timothy R. Barakett ’87 will take over as chair of the HMC board next month, succeeding former Treasurer Paul J. Finnegan ’75.

Donor Garber Feature Graphic
Central Administration

‘No One is Doing More’: Harvard President Alan Garber Looks To Reverse Donor Revolt

As the University prepares for a long-term downturn in giving, interim Harvard President Alan M. Garber ’76 is leading the charge to woo back disillusioned donors.

Endowment Feature
Central Administration

Critics Says Harvard’s Endowment Is Underperforming and Overly Secretive. Is It?

The lackluster performance of Harvard’s endowment — the largest in the world — has sparked concerns about the stewardship and transparency of the endowment under Harvard Management Company CEO N.P. “Narv” Narvekar.

Harvard Management Company
University Finances

Harvard Management Company CEO Receives 6.9% Pay Cut Over Poor Investment Returns

The Harvard Management Company cut the pay of Chief Executive Officer N.P. “Narv” Narvekar by 6.9 percent in 2022 after the endowment had its third-worst annual investment results in the last 20 years.

Semitic Museum
Religion

Harvard Islamic Studies Program X Account Reinstated After University Intervenes

The X account belonging to the Harvard Islamic Studies Program was reinstated on April 18 following a nearly two-month suspension after Harvard’s Office of General Counsel reached out to the legal office at X Corporation.

Endowment

The State Legislature Is Considering an Endowment Tax. Experts Say It Could ‘Cripple’ Harvard

The Massachusetts state legislature is set to move ahead later this month with a university endowment tax bill that some experts described as potentially catastrophic for academic institutions like Harvard and MIT.

Houghton Library Construction Sign
Museums

Harvard Plans To Renovate 4 Major Libraries Ahead of 400th Anniversary

Martha Whitehead, vice president of the Harvard Library, announced plans to renovate the four major libraries in Harvard Yard — Widener, Lamont, Pusey, and Houghton — during a faculty meeting last week.

Pro-Palestine Protest at Mass. Hall
College

Harvard Student Government Approves PSC Petition for Referendum on Israel Divestment

The Harvard Undergraduate Palestine Solidarity Committee circulated and passed a petition on Tuesday initiating a referendum to obtain student opinions on Harvard’s financial ties to Israel.

Harvard Divinity School
Harvard Divinity School

Divinity School Student Government Calls On Harvard to Divest from ‘Illegal Occupation of Palestine’

The Harvard Divinity School Student Association passed a resolution Friday morning calling on the University to divest from entities involved in “violations of international law and human rights against Palestinians.”

FAS CFO Kofi Ofori
FAS

Johns Hopkins Administrator Kofi Ofori Named Harvard FAS Chief Financial Officer

Kofi N. Ofori will serve as Chief Financial Officer of the Faculty of Arts and Sciences, FAS Dean for Administration and Finance Scott Jordan announced Thursday.

Donor Graphic
Central Administration

In Private, Garber Acknowledges Harvard Has a Fundraising Problem

Interim Harvard President Alan M. Garber ’76 has publicly pushed back against suggestions that the University is facing a fundraising crisis. But in private, Garber has struck a different tone with alumni and donors.

Endowment

Ivy League Federal Lobbying Expenditure Rose 12% in 2023, Harvard Spent $530,000

Harvard spent $530,000 on lobbying the federal government in 2023, the lowest amount spent by the University in the past nine years.

Harvard Management Company
Endowment

Harvard Endowment’s Fossil Fuel Investments Drop Below 2%

The Harvard Management Company — which stewards the University’s $50.7 billion endowment — reported the endowment’s investments in fossil fuels have fallen below 2 percent, as the University remains on pace to fully divest from the industry by 2050.

Harvard Management Company
University Finances

Michael Chae ’90, Blackstone CFO, Joins Harvard Management Company’s Board of Directors

The Harvard Corporation — the University’s highest governing body — tapped Michael S. Chae ’90, chief financial officer of Blackstone, to become the newest member of the Harvard Management Company’s board of directors.

William F. Lee
Central Administration

Former Harvard Senior Fellow William Lee ’72 Faces Ethics Complaints Over Potential Conflict of Interest with Harvard

Former Harvard Corporation Senior Fellow William F. Lee ’72 is facing two ethics complaints alleging his dual roles at Harvard and law firm WilmerHale created a conflict of interest, the New York Post reported Thursday.

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