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Harvard’s endowment is a dedicated and permanent source of funding that maintains the teaching and research mission of the University. Made up of over 14,000 individual funds invested as a single entity, the endowment’s returns have enabled leading...

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...

Harvard Management Company (HMC)—a nonprofit, wholly owned subsidiary of Harvard University—has managed the University’s endowment portfolio since 1974. HMC has a singular mission of producing strong investment results to support the educational and...

The University’s spending practice must balance two competing goals: the need to fund the operating budget with a stable and predictable distribution, and the obligation to maintain the long-term value of endowment assets after accounting for inflation.

Th...

Returns from the endowment foster leading financial aid programs, scientific research discoveries, and hundreds of professorships.

However, there is a common misconception that endowments, including Harvard’s, can be accessed like bank accounts, used for...