University Finances
In Shanghai, Faust Expresses Optimism That Endowment Will Improve With Financial Markets
A year after Harvard’s endowment plummeted 27 percent—losing almost $11 billion—University President Drew G. Faust told reporters in Shanghai last week that she expects a better year for the University’s coffers.
Vacant Allston Property Leased
A nonprofit environmental organization will move its headquarters to Harvard property in Allston this April, marking the University’s first succesful letting of a vacant property in the neighborhood since the December announcement of the halt of construction on the Allston Science Complex.
University Plans Capital Campaign
Harvard has begun planning for its next capital campaign after over five years of delays.
New FAS Policy Budget Questioned
Faculty members questioned recently implemented budgeting measures that will grant Faculty of Arts and Sciences Dean Michael D. Smith more authority in determining where FAS centers direct their funds.
FAS Funding Policy To Steer Centers
As the Faculty of Arts and Sciences prepares its budget for the upcoming fiscal year, the administration will turn its attention to area-study centers to streamline spending of FAS resources, sparking concern among some center leaders.
BRIEF: Harvard Considers Selling Real Estate Holdings
The University is seeking to divest about $500 million dollars of a real estate portfolio that includes $2 billion in current assets as well as $3 billion in future commitments.
Harvard Owns Burritos and Superheroes
Prices are down and markets are hurting. Some might think it’s a buyer’s market out there (we couldn't tell you—we're barely passing Ec 10). So what has Harvard been investing in? BJ Services, for one. Marvel comics and Chipotle burritos, too.
Gifts to Major Colleges Decline
Donations to American colleges and universities fell nearly 12 percent during the fiscal year ending last June, the steepest decline in fundraising since the mid-1970s and a direct result of the recent recession, according to a report released by the Council for Aid to Education yesterday.
We're The Worst At Something
The popular finance blog 24/7 Wall St. threw a couple stones at Fair Harvard last night, calling our endowment "by a wide margin the worst managed endowment." Ouch.
Large University Endowments Down Average of 20.5 Percent
A new report found that university endowments declined an average of 18.7 percent in the fiscal year ending June 30, confirmation that Harvard has not been alone in suffering large endowment losses.
Harvard Name Aids Debt Sales
The cachet of the Harvard brand name came into play on the bond market when the University sold $480 million of debt last week and beat benchmark interest rates—an indication that the University’s bonds remain in high demand despite Harvard’s budgetary troubles.
Harvard Natural Target for IRS Audit, Administrator Says
The University's top finance official has described the Internal Revenue Service's decision to include Harvard in its audit of 40 institutions of higher education as a natural consequence of Harvard's large and diverse operations.
IRS To Audit Harvard as Part of Non-Profit Probe
Harvard will be audited by the Internal Revenue Service as part of the government's efforts to review practices at non-profit organizations that take advantage of tax exemptions.
