University Finances


Experts Say Harvard May Encounter ‘Pitfalls’ On its Way To A Greenhouse Gas-Neutral Endowment

Harvard pledged last month to achieve net-zero greenhouse gas emissions in its endowment by 2050. But experts say a number of intermediate steps may pose logistical and environmental challenges for the University.


Harvard Medical School Faculty Pen Letter to President Bacow Expressing Disappointment with Endowment Decision

Roughly 170 members of the Harvard Medical School faculty and their supporters sent a letter to University President Lawrence S. Bacow on Sunday criticizing the school’s plan to commit its $40.9 billion endowment to net-zero greenhouse gas emissions by 2050.


Harvard Extends Pay and Benefits to Employees Amid Estimated $415 Million Shortfall

Harvard will extend guaranteed pay and benefits to directly employed staff and contract workers through June 28 as it faces a $415 million shortfall this fiscal year, Harvard Executive Vice President Katherine N. Lapp wrote in an email to Harvard faculty and staff Tuesday morning.


Harvard Asked Its Lawyers to Review the University’s Ties to Jeffrey Epstein. Here’s What They Found.

Harvard will adopt new donation guidelines as a result of its review of donations from the late billionaire and convicted sex offender Jeffrey E. Epstein, University President Lawrence S. Bacow announced in an email to affiliates Friday afternoon.


Radcliffe Institute and Divinity School Particularly Vulnerable to Endowment Decreases

Losses to the University’s endowment due to the coronavirus pandemic may have a disproportionate impact on the Radcliffe Institute for Advanced Study and the Harvard Divinity School, which draw high proportions of their budget from the endowment.


Harvard Will Not 'Seek or Accept' CARES Funding

Harvard will not “seek or accept” the nearly $9 million in funds allocated to it by the Coronavirus Aid, Relief, and Economic Security Act, according to a Wednesday statement from University spokesperson Jonathan L. Swain.


Harvard Endowment Commits to Net-Zero Greenhouse Gas Emissions by 2050

The Harvard Management Company has committed to achieving net-zero greenhouse gas emissions by 2050, University President Lawrence S. Bacow wrote in a message to faculty Tuesday afternoon.


Harvard Faculty Mixed on Carbon-Neutral Endowment Commitment

Though most faculty members support the University’s commitment to net-zero greenhouse gas emissions from its endowment by 2050, they are divided over whether the plan — announced on Tuesday — goes far enough.


Divest Harvard Calls University’s Carbon-Neutral Endowment Commitment 'Insufficient'

Divest Harvard, a student group calling on the University to divest from the fossil fuel industry, argues that Harvard’s commitment to making its endowment carbon-neutral by 2050 falls short of achieving their goal of total withdrawal from the industry.


Trump Says Harvard Will Have to 'Pay Back' CARES Funds

President Donald Trump said in a press conference Tuesday evening that he would request that Harvard return the nearly $9 million it was granted as part of the Coronavirus Aid, Relief, and Economic Security Act.


Harvard Will 'Apply the Tourniquet' On Non-Essential Spending, Per CFO Hollister

As Harvard grapples with the financial consequences of the coronavirus pandemic, Vice President for Finance and Chief Financial Officer Thomas J. Hollister said the University will focus its existing funds on teaching and research.


Harvard Has The Largest University Endowment in the World. CFO Hollister Says It Has Its Limits.

As the coronavirus pandemic devastates the global economy, Vice President for Finance and Chief Financial Officer Thomas J. Hollister said in a Thursday interview that administrators will seek to balance the University’s long-term financial welfare with its need for immediate financial support when utilizing the school’s endowment.


Harvard Faculty of Arts and Sciences Unable to Cover FY2020 Budget After Netting $30 Million in Coronavirus Losses

Harvard’s Faculty of Arts and Sciences is unable to cover its budget for Fiscal Year 2020 after incurring more than $30 million in “unforeseen expenses and lost revenue” due to the coronavirus pandemic, FAS Dean Claudine Gay wrote in an email to faculty and staff Friday.


Harvard Commits to Technology Access Framework During COVID-19 Crisis

Harvard has announced its commitment to the COVID-19 Technology Access Framework, which allows the use of non-exclusive and royalty-free licenses of intellectual property rights for products aimed at combating the coronavirus pandemic.


Harvard to Issue $1.1 Billion in Bonds, Capitalizing on Low Interest Rate

Harvard will sell up to $573 million in revenue bonds through a state agency and use the proceeds to refinance outstanding debt, and sell $500 million in taxable bonds for “corporate purposes,” according to a report from Moody’s Investors Service this week.


Coronavirus Causes 'Precipitous Drop' in Harvard’s Executive Education Revenues

Executive and continuing education programs — a growing source of revenue for the University — have been stymied by campus closure, the latest in a mounting number of financial challenges Harvard will face as a result of the coronavirus pandemic.


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