What does Harvard's endowment support?

The endowment remains the largest source of revenue supporting the University budget. In fiscal year 2024, endowment distributions for operations represented 37 percent of the University’s revenue—ranging from 85 percent of Radcliffe Institute for Advanced Study revenue down to 20 percent for Harvard Business School and Harvard T.H. Chan School of Public Health.

Endowment funds support nearly every aspect of University operations. The two largest categories of funds cover faculty salaries, including professorships, and financial aid for undergrads, graduate fellowships, and student life and activities. Harvard also has endowments that support academic programs, libraries, art museums, facilities, and a wide variety of other activities.

Even with endowment support, Harvard must fund nearly two-thirds of its operating expenses ($6.4 billion in fiscal year 2024) from other sources, such as federal and non-federal research grants, student tuition and fees, and gifts from alumni, parents, and friends.