Harvard University Faces $151 Million Decline in Donations Amid Backlash Over Anti-Israel Protests
Harvard University experienced a 14 percent drop in contributions during fiscal year 2024, amounting to a $151 million decline as the college continues to face backlash over ongoing anti-Israel protests on campus.
According to The Harvard Crimson, the university’s endowment fund saw a total decrease of $193 million in contributions. However, a $42 million increase in gifts offset some of the losses, resulting in a net reduction of $151 million. This drop follows several wealthy donors announcing they would stop contributing due to their disagreement with Harvard’s handling of widespread anti-Semitism on campus.
Kenneth C. Griffin, a wealthy hedge fund manager and Harvard graduate from 1989, is among the donors who have paused their financial support. Griffin, who donated $300 million to Harvard’s Faculty of Arts and Sciences last year, said earlier this year that he would stop donating due to the university’s handling of antisemitism on campus.
“I’d like that to change and I have made that clear to members of the corporate board,” Griffin said at a conference, per the Harvard Crimson. “But until Harvard makes it very clear that they’re going to resume their role as educating young American men and women to be leaders, to be problem solvers, to take on difficult issues, I’m not interested in supporting the institution.”
Reports last fall by The Harvard Crimson indicated private concerns among university leaders that frequent donors would withhold contributions due to the anti-Israel protests. Despite this, Harvard has not taken a stricter stance on student activists. Just last week, it was reported that Harvard allowed activists to disrupt a pro-Israel event for up to 10 minutes and even required the event organizers to read a statement permitting protests during the event.
Harvard is not alone in facing financial repercussions. Columbia University has also seen a significant drop in donations this year, with contributions decreasing by nearly 29 percent as the campus became a focal point for student protests against Israel.
