Stories
Stories
The HBS endowment consists of 1,000+ funds established over more than a century. These funds play a key role in sustaining the School’s core priorities.
The $3.5 billion HBS endowment represents 9 percent of Harvard’s total $37 billion endowment (as of June 30, 2017).
Each year, Harvard determines the payout rate—typically around 5 percent of the endowment’s prior year-end market value —that can be withdrawn and used to support activities in accordance with the donor’s intentions and the terms of each gift.
A large majority of endowment funds are earmarked for donor-specified purposes such as professorships and fellowships. Only the remaining 13 percent is unrestricted—$19 million in FY17—and can be used to help fund new ideas and initiatives.
An enduring investment: Donors who establish an endowed fund at HBS take the long view. For example, the Paul W. Kesten Memorial Fellowship was established in 1966 with a gift of $100,000. Since then, it has supported more than 100 MBA students and—as a result of appreciation over time—provided $49,000 in need-based financial aid awards in academic year 2017–2018.
The HBS endowment is managed by Harvard Management Company (HMC) as part of the Harvard University endowment. HMC, a wholly owned subsidiary of the University, is under new leadership and in the middle of a major reorganization designed to improve returns across all asset classes.
Post a Comment
Related Stories
-
- 15 May 2023
- Alumni Stories
From Scientist to Business Leader
Re: Brianna Kim (MBA 2023) -
- 01 Mar 2023
- HBS Alumni Bulletin
Family Matters
Re: John Phelan (MBA 1990); Ed Hajim (MBA 1964); Lailah Thompson (MBA 2021); By: April White -
- 01 Mar 2023
- HBS Alumni Bulletin
Enabling Students to Pursue Their Passions
Re: David Velasquez (MBA 2023); Tristan Bagala (MBA 2023); Matthew C. Weinzierl (Joseph and Jacqueline Elbling Professor of Business Administration Senior Associate Dean, Chair, MBA Program); By: April White -
- 01 Mar 2023
- HBS Alumni Bulletin
An Investment in Tomorrow's Leaders
Re: Srikant M. Datar (George F. Baker Professor of Administration Dean of the Faculty); By: Jennifer Gillespie