Word: payouts
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Dates: during 1990-1999
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Knowles will pay for the initiative by taking advantage of the University's successful capital campaign, the investment returns of the Harvard Management Company and the increase in endowment payout that was announced earlier in the year, according to Ann E. Berman, associate dean for finance in Knowles' Faculty of Arts and Sciences...
According to Huidekoper, Harvard's recent policy change to increase endowment payout by a total of 20 percent depended on how the endowment fared...
Last week's announcement that the University will increase its endowment payout by 20 percent next year is welcome news to students and Faculty alike. Finally, Harvard is dispersing just a little more of its gigantic endowment, an endowment that has nearly tripled in the last five years. Finally, Harvard is back on track with a payout of about 4.5 percent of the endowment, upping the shockingly low 3.3 percent payout of this year...
Administrators cite the upcoming conclusion of the Capital Campaign as one of the reasons for the increased payout. Provost Harvey V. Fineberg '67 said, "A lot of people have contributed a lot of money, and I think it will be very helpful to be able to point and see how that money is having an effect today." While we agree that major University donors such as Katherine B. Loker and Sidney R. Knafel '52 deserve to see the fruits of their generosity, the University should take its spending cues not from individual donors but from the needs of students...
...projects including repairs to the library system and the building of the Knafel Center for Government and International Studies and to support Faculty research. Aside from the very helpful increase in financial aid funding, students will see little change in their everyday lives as a result of this larger payout...