Harvard Donations Slide 15% as School Warns of Rising Costs
- Cash gifts tumbled amid uproar over antisemitism on campus
- Finance chief calls for long-term caution on spending growth
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Harvard University’s donations tumbled the most in nine years amid a surge in alumni anger over the school’s handling of antisemitism on campus, and its top financial official sounded a warning on rising costs.
Cash gifts fell 15% to less than $1.2 billion during the fiscal year ended June 30, Harvard said in a financial report Thursday. Some of the largest donors, including billionaires Len Blavatnik and Ken Griffin, have paused donations to their alma mater over the past year, as did other less-wealthy graduates.