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.
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.
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.
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.
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.
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.”
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.
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.
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.
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.
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.
U.S. Justice Dept. Charges Harvard Kennedy School Fellow with Arms Trafficking
Harvard Kennedy School fellow Peter B. Ajak was charged with conspiring to illegally export “millions of dollars’ worth” of weapons to armed groups in South Sudan, according to the U.S. Department of Justice.
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.
Harvard Attracts Investors, Selling $750 Million in Taxable Bonds
After two credit rating agencies affirmed the University’s AAA rating, Harvard sold $750 million in taxable bonds at an advantageous rate, demonstrating strong investor faith in the school despite weathering a series of scandals last fall.
Starting This Spring, Google to Limit Storage on Higher Education Accounts
Harvard University Information Technology will begin enforcing a default storage limit of 25 gigabytes on Google accounts starting this spring, according to a statement released by Faculty of Arts and Sciences administrators last week.
