Harvard University has seen a staggering 15% drop in donations, marking one of the most challenging financial years in recent memory as a series of leadership scandals and antisemitism controversies plague the institution. The university reported that donations fell from $1.38 billion last year to $1.17 billion, according to its latest financial report.
One of the biggest points of contention has been the fallout from former President Claudine Gay’s handling of campus tensions, particularly her stance on free speech amid pro-Palestine protests. Gay faced significant backlash from high-profile donors who criticized her for allowing these protests to continue unchecked, citing concerns over antisemitism. The situation intensified as Gay herself came under fire for alleged plagiarism, leading to her resignation in January. Despite her departure, the university’s reputation—and its donor base—have yet to fully recover.
Newly appointed President Alan Garber is now focused on mending relationships with disillusioned alumni and restoring Harvard’s standing. In recent months, Garber has traveled worldwide, meeting with donors and alumni, as he aims to convince them that the Ivy League university is back on track. Yet, his efforts have only yielded modest improvements; while unrestricted donations and gifts increased slightly by 8.6%, donations to Harvard’s multibillion-dollar endowment plummeted by 34%, coming in at $368.1 million.
Garber told The Harvard Crimson that he remains cautiously optimistic, acknowledging the difficulties: “Some of the new commitments have been disappointing compared to past years.” However, he expressed confidence that Harvard’s renewed focus on its core academic mission—research, teaching, and student engagement—will ultimately strengthen its ties with donors.
To address ongoing concerns, the university has implemented new policies to foster a sense of inclusivity. This includes initiatives from task forces aiming to curb harassment and discrimination across all communities, including Jewish, Muslim, and Arab students. Garber believes these efforts signal positive change and reassures donors that the institution is making strides toward stability.
In a hopeful note, Garber wrote, “Our university will emerge stronger from this time—not in spite of being tested, but because of it.” Yet, with donations still far below prior levels, it remains to be seen whether Harvard can fully regain the trust and financial support of its alumni and donor community.
