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Some Food for Thought

Harvard University is the richest university in the world

Harvard University Endowment: $19.2 billion

Harvard University Budget: $1.9 billion (fiscal year 2000)

Harvard University Operating Surplus: $120 milliion, of which $51 million were unrestricted funds (fiscal year 2000)
"The largest operating surplus in [Harvard's] history" according to VP for Finance Elizabeth Huidekoper and Treasurer/Corporation Member D. Ronald Daniel

Endowment money distributed for operations increased from 1999-2000 more than 29%, from $430 million to $556 million

Gifts for current use increased 22%, to over $144 million

Total University Income up 14% = 1/4 billion, for a total of $2.023 billion

Expenses rose by only $65 million to $1.902 billion (depending on method of measure, this amounted to a rise of 4% to 8%)

Harvard is the largest employer in the City of Cambridge
Harvard is the fifth largest employer in the Commonwealth of Massachusetts

EmployeeCompensation for 1998
Jonathan S. Jacobson,
Fund Manager, Harvard Management Company
$10 million
A Harvard Law School dining services worker$6 per hour
More on Harvard salaries

Amount a $6 per hour worker will earn working 35 hours a week, every week, for a full year: $10,920
Poverty level for a single parent and one child: $11,021
More on poverty levels

Number of Harvard employees (not including subcontracted workers) who make under $10 per hour: 1,008

Amount it would cost Harvard to pay these employees $10.25 per hour: well under 0.5% of Harvard's budget.