Caltech's Brian K. Lee will oversee Harvard's fundraising efforts as the next Vice President for Alumni Affairs and Development.
Stephen A. Schwarzman donated $5 million to support business school faculty members producing case studies on the effects of artificial intelligence.
The total more than doubles the goal of $450 million the school announced in October 2013.
Harvard’s Capital Campaign Shows Enduring Support for Higher Ed, Growing Financial Gap Between Schools
The University’s record-breaking $9.6 billion capital capital sends a strong signal of faith in Harvard and higher education — but it also highlights ongoing tensions in the industry, experts say.
Harvard Management Company has sold $950 million in warehouse properties to private equity firm Blackstone Group ahead of HMC’s yearly returns announcement, Bloomberg reported Thursday.
The Harvard Kennedy School closed out its capital campaign at more than $700 million, according to an August email sent to HKS affiliates by Kennedy School Dean Douglas W. Elmendorf.
Harvard just beat Harvard's own fund-raising record. The University closed out its record-smashing capital campaign at $9.6 billion, meaning the school surpassed its original fundraising goal by more than $3 billion.
Harvard is still awaiting federal guidance on how to file taxes under a law passed in Dec. 2017 that levied an “unprecedented” excise tax on some universities’ endowment returns, according to a spokeswoman.
Thomas J. Hollister, chief financial officer of the University, said the president-elect has long been “intimately involved” in Harvard's financial affairs as a Corporation member.
The Republican tax overhaul passed in December may impact the pensions of Harvard employees hired before 2001 and the University is currently “reviewing” the situation.
The Division of Continuing Education has been almost entirely financially self-sufficient in recent years, raising money through tuition and other programming rather than relying heavily on money from the University endowment.