Vanity Fair: Harvard’s endowment didn’t drop as much as reported; Harvard: Yes, it did

A Vanity Fair report says Harvard’s endowment is losing money, just not as much as the college says it is. A source tells VF that the endowment will shrink 23 percent to 25 percent, rather than the 30 percent Harvard has predicted. 

In a denial that shows how fully upside down the recession has turned the world, Harvard president Drew Gilpin-Faust issued a statement saying, no, the endowment really is losing 30 percent.

Well that certainly settles that. Either way, now might not be the best time to ask about finishing up that science complex in Allston.

Posted by Brendan Lynch

Tags: Allston, endowments, Harvard, recession, Vanity Fair

This entry was posted on Thursday, July 2nd, 2009 at 11:53 am and is filed under Education & Training, Financial Services, Massachusetts. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.