Word: endowment
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Dates: during 2000-2009
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...Harvard even in good times hasn’t put enough emphasis on unrestricted giving,” Faust said. “Our donors tended to want to endow particular activities—it’s just how the process was structured as it evolved...
Last month, Harvard renegotiated terms to an agreement with a South Korean foundation that loosened restrictions on a $13 million endowment established in 1975 for Korean studies. The funds, which were originally dedicated to endow a senior faculty member’s position in the field, can now be used to support tenure-track faculty, visiting scholars in the department, and students studying the economy and society of modern Korea...
...James’ recklessness is at least partially a façade. The problem is that nothing lies underneath. Perhaps James was meant to be fundamentally empty. Perhaps the same role would seem more nuanced if an older actor were in it. Or perhaps Sterle has just neglected to endow his performance with much needed complexity—although for an actor of such obvious skill, this seems unlikely. Whatever the reason, James does not bring as much to “Last Call” as Sara and Ellie, and at times he feels like a third wheel, albeit...
Under the original terms of the agreement, what Dominguez described as a “series of locking clauses” stipulated that the funds could only be used to endow a senior faculty member’s position in Korean studies at Harvard...
...securing sources of funding. In recent months, University administrators have taken steps to ensure that terms of such agreements are flexible enough to accommodate its beneficiaries, whose needs will likely change over time. Donations frequently come with strings attached. A fund, for instance, may be specifically intended to endow a professorship in Korean studies. Harvard officials are now reevaluating whether restrictive agreements signed in the past can be renegotiated to match available resources with current needs. “We now have a more systematic process, since there ought to be a mechanism to scrutinize endowments,” Dominguez...