Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

praxEs

praxEs's Journal
praxEs's Journal
April 27, 2022

I looked at the Reuters story again, carefully, and

I couldn't discern any indication in the cited story via Reuters that it was 'initial in respect to Harvard University contributing more' -- except that the 100,000,000 was drawn from current endowment to establish the fund. Salting the fund with resources from the current endowment is a little bit unusual I believe because endowed funds are more often initiated by external donors. My hardly deep understanding of university endowment is that they are opened so that other people and institutions may donate to them. I may be splitting hairs here and I am totally relying on the cited story.

"HMC, which invests the University's endowment and other financial assets, revealed that during fiscal 2021, the endowment's value increased 27 percent, to $53.2 billion; during fiscal 2020, when the pandemic began and the economic outlook remained uncertain, its value had appreciated 2.4 percent, to $41.9 billion." Oct 14, 2021. Harvard Magazine"

"Harvard Management Company returned 33.6 percent on its investments for the fiscal year ending in June 2021, skyrocketing the value of the University's endowment to $53.2 billion, the largest sum in its history and an increase of $11.3 billion from the previous fiscal year." Oct 15, 2021 The Crimson

Again, the .1 billion allocated to initiate the fund is barely a pittance in my opinion, especially in light of the outsized pandemic windfall. I find the argument above reflecting the presence of many restricted funds to be rather unconvincing inlight of the huge return on endowment of 11.3 billion.

Profile Information

Member since: Fri Jul 9, 2021, 01:54 PM
Number of posts: 56
Latest Discussions»praxEs's Journal