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...Sept. 30, Harvard had roughly $460 million, or 20 percent of its total 13F listed holdings, invested in emerging markets. But by Dec. 31, those assets—then only valued at $224 million??had come to represent nearly 40 percent of its total holdings, even though Harvard had sold one-third of its emerging market equity...
Massachusetts General Hospital received its largest donation in history yesterday—$100 million??to create a joint institute between Harvard, MIT, and affiliated hospitals with the stated goal of finding a vaccine for AIDS within the next decade. The gift from Phillip “Terry” Ragon and his wife, Susan, will create the Ragon Institute—designed to overhaul norms of clinical research by drawing from acclaimed physicians, researchers, and engineers in various fields who have never directly worked in AIDS research before. Harvard Medical School professor Bruce D. Walker, who runs...
...symbolizes. The Rose, home to Brandeis’s 6,000-object art collection, was approaching its 50th anniversary, but may not make it to that milestone. On Monday, the Board of Trustees voted unanimously to close the museum and use its collection—worth an estimated $350 million??in order to generate funds to cover the University’s looming multimillion-dollar budget deficit. While the plan has been met with considerable opposition from several long-time donors to the Rose and from student protests, the University is moving forward undeterred. Brandeis?...
...operating budgets than Harvard does. On average, the endowment contributed 34 percent of the operating budget of each of Harvard University’s schools in fiscal year 2008. In comparison, 45 percent of Princeton’s projected operating budget for 2008-2009—or $534.6 million??relies on the endowment, said Emily R. Aronson, a media officer in Princeton’s Office of Communications, in an e-mail. Behind the 34 percent average, Harvard’s schools vary in their dependence on endowment funds for operations. Hardest hit have been the Radcliffe...
According to the Boston Globe, Harvard currently pays $1.9 million a year to the city. Boston University, which owns half as much land as Harvard, pays $4.6 million??over half of the city’s $8.1 million collected from higher education PILOTs. The city collects $32.4 million annually from PILOTs—a small sum compared to the estimated $350 million that Boston would receive if non-profits were not tax-exempt...