Word: gifts
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Dates: during 1970-1979
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Although most grants that come from neither government or foundation sources are given by alumni or other private individuals, corporations also contribute a substantial amount. In four of the past five years, corporations contributed approximately $6 to $7 million annually. The exception was 1973-74, when a $2.5 million gift from several Japanese corporations to the East Asian studies program boosted the total to $9.4 million...
Although corporations, like individuals, can take a tax deduction on their gifts, "nobody makes money on a gift," Peterson says. He feels corporations have the same basic motives for giving that individuals do. While the individual may be concerned with "doing something immortal" for the alma mater, Peterson says that if corporations are going to exercise power, giving money to an educational institution is certainly a "benign" way to do so. Corporations may feel "obligated to support institutions which provide them with technology and people...
...corporations such as Continental Oil who endowed a $1 million chair at the Business School, or foreign countries such as Korea. "Buying off doesn't happen. Donors have no power to appoint a professor, to tell him what to study, what to publish," he says. Once they make a gift, although the University is obligated both "morally and legally" to adhere strictly to its terms, it is final. "They can't get their money back," he points...
...Harvard $1 million for East Asian Studies. Peterson says the money is needed if Americans are to lessen their "ignorance" about East Asian culture and he stresses that there are "no strings attached" to the grant, adding that if he were not confident of this, he would oppose the gift. The KTA is not part of the Korean government, he says, but an organization like the Chamber of Commerce. Besides which, as long as there are no restrictions, Peterson says he'd "take money from (Korean President) Park himself...
Rosovsky says all unrestricted grants to the University--from individuals, corporations and foreign sources--are examined before the Harvard Corporation accepts them. Although Rosovsky would not give specific examples of cases where the University has rejected a grant, he says situations have arisen in the past where gifts were refused. A gift designed to propagate certain ideological viewpoints or from a country that discriminates against certain people would not be accepted, he says. It is for those reasons, for instance, that the University has decided to decline to work with projects in Saudi Arabia, where Jews are not admitted...