(MENAFN) Harvard University saw a significant drop in donations in its 2024 fiscal year, with contributions falling by USD151 million (14%) compared to last year. Donations to the endowment decreased by nearly USD193 million, but gifts for current use rose by USD42 million. This decline is linked to alumni discontent over the university’s handling of antisemitism after the Hamas attack on Israel.
The drop is one of the largest in the last ten years. The situation has strained relations between the university and alumni, with some calling for resignations of leaders who allowed antisemitic protests. The Harvard Crimson noted that this has affected overall donor sentiment.
Harvard President Alan Garber acknowledged that new donations are disappointing but expressed hope for improvement, citing a quieter academic year. This may help rebuild trust among potential donors.
While current use giving reached over USD525 million—8% of the fiscal year 2024 operating revenue, and the second highest ever—officials warned that sustaining this level of donations may be difficult in the future, highlighting the need for ongoing alumni support for Harvard’s mission.
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