Crimson staff writer
Claudine Gay Makes History as First Black Harvard President
Faculty of Arts and Sciences Dean Claudine Gay made her second historic first on Thursday when Harvard announced her selection as the University’s 30th president — the first person of color to hold the role.
Harvard Facing Rising Expenses Due to Inflation, University CFO Says
Harvard Chief Financial Officer Thomas J. Hollister said in an interview Wednesday the University is now facing rising costs “across the board” as the school’s expenses are “bouncing back.”
Jazz Musician Esperanza Spalding to Depart Harvard
Prominent jazz musician Esperanza E. Spalding, a professor of the practice in Harvard’s Music Department, announced in a Monday email to department affiliates that she will depart the University following disapproval of her proposal for “decolonial education.”
Harvard CFO Thomas Hollister To Retire in June 2023
Harvard Vice President for Finance and Chief Financial Officer Thomas J. Hollister will step down and retire at the end of the academic year after eight years serving in the role.
Missing from Harvard’s Annual Endowment Report This Year: Underlying Data
Each fall, Harvard releases an annual financial report that provides insights into the University’s budget and investment strategy. For years, the endowment section of the report looked largely the same, with data on HMC’s targets, as well as returns across asset categories. But this fall, it abandoned the longtime practice of disclosing investment performance by asset class.
By the Numbers: Harvard’s FY 2022 Financials
In fiscal year 2022, the value of Harvard’s endowment dropped by $2.3 billion while the University’s revenue streams rebounded. See the highlights from Harvard’s Annual Financial Report below.
Harvard Ended Fiscal Year 2022 with $406 Million Budget Surplus as Revenues Exceeded Pre-Pandemic Levels
Harvard ended fiscal year 2022 with a $406 million budget surplus, its largest in at least the last two decades, as revenues rose above pre-pandemic levels following two consecutive years of decline.
Harvard Endowment Value Falls $2.3 Billion Following First Negative Returns Since 2016
The value of Harvard University’s endowment fell by $2.3 billion in fiscal year 2022 after the Harvard Management Company delivered a 1.8 percent loss on its investments — its first year of negative returns since 2016.