Harvard University has experienced a significant decline in donations, dropping nearly 15% in fiscal year 2024. This marks the lowest fundraising total since 2015, with donations decreasing to $1.17 billion.
The drop is largely attributed to the university’s handling of antisemitism on campus, as well as a backlash following anti-Israel protests. Harvard President Alan Garber acknowledged that the results were “disappointing,” but he expressed some optimism for future improvements.
The most striking aspect of the donation decline was the sharp reduction in contributions to the endowment, which fell from $561 million to $368 million. Despite this, the endowment still grew by 9.6% due to strong investment returns, reaching $53.2 billion.
Harvard has been dealing with fallout from protests and scandals, including the resignation of former President Claudine Gay and lawsuits from students accusing the university of failing to combat antisemitism.
Notably, several prominent donors, such as Ken Griffin and Bill Ackman, have pulled their financial support. The Harvard Jewish Alumni Alliance has also voiced concerns, stating, “A campus culture has developed in which Jews feel unsafe.”
Many have signed a pledge to donate only $1 to the university until these issues are adequately addressed.
President Garber indicated that alumni were “relieved” that the campus has been quieter this academic year, but tensions remain, as Harvard continues to investigate instances of antisemitic behavior, including the appearance of swastika-laden stickers.
Protests against the university’s stance on Israel persist, further complicating the institution’s efforts to restore donor confidence.
