Harvard Donations Drop Amid Alumni Backlash

Harvard University reported a nearly 15% drop in donations for fiscal year 2024, receiving $1.17 billion, down from $1.38 billion the previous year, primarily due to alumni backlash over the university's response to antisemitic activities on campus. Major donors like Kenneth Griffin and Bill Ackman halted contributions, impacting the overall donation levels. Despite this decline, Harvard remains the wealthiest university with a $53.2 billion endowment, which yielded a 9.6% return. The university faced a tumultuous year with leadership changes, including the resignation of President Claudine Gay amidst criticism, yet managed to achieve a $45 million operating surplus. While Harvard's current-use donations remained robust, future fundraising levels are uncertain as the institution addresses internal challenges and rising costs.