(MENAFN) Harvard University saw a big drop in donations in 2024, losing USD151 million (14%) compared to last year. Donations to the endowment fell nearly USD193 million, but funds for current use went up by USD42 million. This decline is linked to backlash against the administration over its handling of campus antisemitism after the Hamas attack on Israel.
This is one of the largest decreases in donations in a decade. Many alumni are upset and have called for the resignation of leaders who allowed antisemitic protests. The Harvard Crimson pointed out that this has hurt overall donor relations.
Harvard President Alan Garber acknowledged the disappointing new commitments from donors but is hopeful about future improvements, noting a quieter year may help rebuild trust. Current fundraising efforts generated over USD525 million for fiscal year 2024, the second highest in Harvard’s history. However, officials warned that maintaining this level of giving may be difficult and stressed the need for ongoing support for Harvard’s mission.
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