Harvard Business School Raises Record Funding
Harvard Business School has raised almost $1.4 billion in its most recent capital campaign.
The fundraising effort, which began in 2013 and ended this past June, raised a grand total of $9.6 billion – a record high for US higher education fundraising, The Harvard Crimson reports. That $9.6 billion surpassed the original goal of $6.5 billion, according to the Crimson.
“Your generosity fueled our efforts to deliver a transformational educational experience that develops leaders of competence and character,” Harvard Business School dean Nitin Nohria wrote in an email to campaign donors. “These leaders — people like you who create real value for society — truly make a difference in the world.”
Millions For Financial Aid and Research
The campaign donations will fund a number of initiatives and causes at the school.
According to the Crimson, $225 million will be designated for financial aid and $346 million for faculty and research.
For a percentage breakdown of how the funds will be used, 45% will be allocated to the endowment, 38% will be for “current use,” and 13% will be reserved for capital projects, the Crimson reports.
Throughout the campaign’s course, Harvard has already designated funds towards many of its programs, such as its online extension school HBX. Additionally, as the Crimson reports, the school has used the donations to also fund a joint MS/MBA degree with the School of Engineering and Applied Sciences