University Finances
Harvard Endowment Jumps 21.4 Percent
Harvard’s endowment posted a 21.4 percent gain for fiscal year 2011, bringing the endowment’s value up to $32 billion.
FAS Deficit Down by Half, to $16 Million
The new deficit figure was revealed at a meeting late last week with Leslie A. Kirwan, dean of Administration and Finance for FAS. Dean of FAS Michael D. Smith is expected to announce the number at the Oct. 4 Faculty meeting, according to FAS spokesperson Jeff Neal.
Harvard Bonds' Value Rises
Bonds from Harvard University, MIT, and Princeton University were the best performers among US investment-grade bonds in the month of August.
Experts Question Report Alleging Harvard's Involvement in Land Grabs
Amidst accusations in a recently published report that Harvard is investing in a “land-grabbing” hedge fund, experts in the field are questioning the document's accuracy.
Students Lobby for University Financial Disclosure
A group of Harvard students is lobbying on behalf of a financial disclosure bill that would increase requirements on the University.
Mendillo’s HMC
HMC has repositioned itself to take more responsibility for guaranteeing the University’s budgetary needs, and has abandoned its image as a one-client hedge fund.
Capital Campaign Quietly Underway
Harvard has quietly begun a new capital campaign, which is expected to raise an even larger sum and to reshape the face of the University once again.
Drew Faust Took Home $874,559 in Salary, Benefits Last Year
University president Drew G. Faust earned $874,559 in salary and benefits last year according to the University’s federal tax filing.
Harvard To Buy Back $300 Million of Bonds
Harvard plans to buy back $300 million of bonds that it sold during the financial crisis, since a reduction in debt would allow the University more flexibility to make new investments, according to Bloomberg.
