Featured series 
Tag: Endowment
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Nation & World
Detailing endowment’s steps toward being ‘net zero’ on greenhouse gas emissions
A conversation with Michael Cappucci on Harvard Management Company’s progress towards becoming net zero in 2050.
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Nation & World
University reports jump in revenues, small decline in endowment
Chief Financial Officer Tom Hollister and Executive Vice President Meredith Weenick discuss the University’s 2022 financial report and endowment returns.
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Nation & World
Weathering COVID’s financial storm
Harvard this week released its annual financial report, which details a $10 million deficit due to the sudden and overwhelming financial effects of the COVID-19 pandemic. The Gazette spoke with Harvard Executive Vice President Katie Lapp and Chief Financial Officer Thomas Hollister about the fiscal year that ended June 30.
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Nation & World
Hollister explains revised guidance on endowment
Thomas J. Hollister, Harvard’s vice president for finance and chief financial officer, explains the Harvard Corporation’s revised endowment guidance for the 2021 fiscal year.
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Nation & World
Want us to invest? Or to keep our investment? Get greener
John Campbell discusses Harvard’s new plan to have its endowment reflect net-zero greenhouse-gas emissions by 2050.
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Nation & World
A fairly bright fiscal 2019
Harvard closed the 2019 fiscal year last June 30 with a surplus. Harvard officials discuss the details of how the University got there.
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Nation & World
National parks’ economic benefits put at over $100B annually
A new economic analysis of the U.S. National Park system puts its value to Americans at more than $100 billion, a figure that dwarfs the financially strapped agency’s $2.5 billion budget and underpins a call to change how what has been called “America’s Best Idea” is financed.
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Nation & World
For Harvard, a look at the financials
Reflecting on the end of the fiscal year June 30, the Gazette sat down with Executive Vice President Katie Lapp and Chief Financial Officer and Vice President for Finance Thomas Hollister to talk about the last budget year and the opportunities and challenges ahead.
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Nation & World
A call to halt endowment tax
Harvard President Drew Faust was among 49 college and university presidents who called on Congress to repeal the endowment tax enacted in December.
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Nation & World
Tax on university endowments passes
Harvard President Drew Faust said that the tax bill represents an unprecedented attack on the tax-exempt status of nonprofits and charities because it taxes, for the first time, income for such an institution’s core mission — in this case, education.
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Nation & World
Looking back, but thinking ahead
Executive Vice President Katie Lapp and Vice President for Finance and Chief Financial Officer Thomas Hollister take a look at the 2017 fiscal year.
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Nation & World
Course change for Harvard Management Company
New Harvard Management Company head N.P. Narvekar announced a major reorganization of Harvard’s endowment management arm, including investment strategy shifts, workforce cuts, fresh hires, and changes in how compensation is calculated.
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Nation & World
A budget surplus, but a cautious outlook
Harvard had a budget surplus in the 2016 fiscal year, but forecasts are for tight revenues in the years ahead from endowment, tuition, and federal funding sources, Harvard’s chief financial officer said.
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Nation & World
For Faust, new year brings fresh challenges
In a question-and-answer session at the start of the new academic year, Harvard President Drew Faust discussed single-gender social organizations, endowment issues, the importance of increasing diversity and safeguarding the humanities, and how she spends her downtime.
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Nation & World
In annual report, a slight surplus
A slight surplus atop a strengthening financial foundation marked the 2015 fiscal year, according to Harvard financial leaders, who spoke with the Gazette as the University released its annual financial report.
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Nation & World
Endowment posts 5.8% return
Harvard University announced today that its endowment posted a 5.8 percent return and was valued at $37.6 billion, an all-time high, for the fiscal year that ended June 30.
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Nation & World
‘It’s a balancing act’
Luis Viceira, Harvard Business School professor and investment management expert, discussed the University’s endowment and its impact on Harvard, as well as the tricky balance among spending, inflation, and investment risk that fund managers wrestle with daily.
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Nation & World
Harvard Management Company turns 40
University and Harvard Management Company officials gathered Thursday to mark the anniversary of the latter’s founding, which made Harvard one of the first universities with a specialized organization to oversee its institutional investments.
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Nation & World
Mendillo to step down
After six years as the helm of Harvard Management Company, which oversees Harvard University’s endowment, President and Chief Executive Officer Jane Mendillo says she will step down at the end of the year.
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Nation & World
University faces ‘complicated choices’
Not long after the Harvard Management Company reported an 11.3 percent return for fiscal 2013, and Harvard launched a $6.5 billion capital campaign, the University’s annual financial report strikes a somber note and points to challenging times in the near future. Vice President and Chief Financial Officer Dan Shore talks about the “complicated choices” facing…
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Nation & World
Faust sets out University position on divestment
After careful review and lengthy discussion on campus, Harvard President Drew Faust issued a statement making clear that she and the Harvard Corporation consider proposals to divest the University’s endowment of holdings related to fossil fuels to be “unwise and unwarranted.”
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Nation & World
Harvard kicks off fundraising effort
Harvard University kicked off the public phase of a $6.5 billion fundraising campaign today, designed to benefit key priorities during constrained financial times. If successful, it would be the largest ever in higher education.
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Nation & World
Managing a ‘seismic shift’
Harvard simultaneously faces stiff economic challenges and evolving opportunities, President Drew Faust said in her opening-of-year speech.
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Nation & World
Harvard’s changing financial profile
The University issued its annual financial report Nov. 2, with a letter from Vice President for Finance Dan Shore and Treasurer James Rothenberg highlighting how Harvard’s financial profile “has changed considerably.” Shore and Executive Vice President Katie Lapp spoke with the Gazette about the ramifications of that changing profile.
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Nation & World
Harvard University endowment yields flat return for fiscal 2012
Harvard University announced today that its endowment posted a -0.05% return and was valued at $30.7 billion for the fiscal year that ended June 30, 2011. The fiscal year 2012 endowment return was 98 basis points in excess of the -1.03% return on the benchmark Policy Portfolio.
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Nation & World
Harvard endowment posts big investment gain
Harvard University’s endowment earned 21.4 percent on its investments for the year ended June 30, roughly in line with the financial performance of other large funds, the school’s money managers reported yesterday.
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Nation & World
Harvard University endowment earns 21.4 percent return for fiscal year
Harvard University announced today that its endowment earned a 21.4 percent return for the fiscal year that ended June 30, 2011.
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Nation & World
FAS Dean Smith looks ahead
As it emerges from the worst of the global financial crisis, Harvard’s Faculty of Arts and Sciences (FAS) is renewing its focus on priorities ranging from House Renewal to innovative pedagogy. With the release of the 2010 FAS annual report, Dean Michael D. Smith, John H. Finley Jr. Professor of Engineering and Applied Sciences, spoke…
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Nation & World
Q&A with Dan Shore
Harvard the University’s latest annual report reflects the effects of difficult strategic choices made during tumultuous economic times. The results are encouraging, but Chief Financial Officer Dan Shore says that Harvard will need to continue managing its expenses cautiously as it works through the lingering ramifications of the Great Recession.
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Nation & World
Harvard Corporation looks ahead
It is a time of change for the Harvard Corporation. In recent months, the oldest corporation in the Western Hemisphere, formally known as the President and Fellows of Harvard College, has welcomed a new member and a new senior fellow, even as it has undertaken a probing look at its own role and practices. President…
