(MENAFN) Harvard University saw a significant drop in donations during its 2024 fiscal year, with contributions down by USD 151 million (14%) compared to the previous year. Donations to the endowment decreased by nearly USD 193 million, though funding for current use rose by USD 42 million. This decline is attributed to alumni dissatisfaction over the university’s handling of antisemitism on campus after the Hamas attack on Israel.
This decrease marks one of Harvard’s largest annual drops in donations in the last decade. Ongoing calls for the resignation of university leaders have strained alumni relations, as highlighted by the Harvard Crimson.
Harvard President Alan Garber acknowledged the disappointing new donor commitments but expressed optimism about potential improvements, noting a quieter academic year may help rebuild trust with donors.
The university’s financial report warned that current fundraising levels may not last. With current use donations reaching over USD 525 million, the second-highest in its history, officials emphasized the need for ongoing donor support for Harvard’s academic goals.
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