Word: payouts
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...Payout from the endowment, Harvard’s greatest source of income, will see just a meager increase next fiscal year as the University continues to hold its schools to lean budgets even as its investment returns surge...
...payout will increase by 4 percent across the University, with additional modest upticks likely for high-priority programs. The decision, approved by the Corporation on Monday and announced to the deans yesterday, comes even as the endowment continues to rise at extraordinary levels, including a 21.1 percent return last fiscal year that put the fund at a record $22.6 billion...
...what appeared to be an unprecedented arrangement, the Corporation, Harvard’s highest governing body, voted to allow an additional 4-percent increase in endowment payout for certain programs identified as priorities by top administrators. Summers said they were likely to include physical renovations, financial aid and new academic programs and research—areas he has long highlighted as top priorities—but he would not say how extensive the additional funding would...
...University’s forthcoming expansion into Allston has weighed heavily on the central administration’s fiscal outlook, and recent meager payout increases seem part of a long-term strategy of maintaining the value of the endowment, which will be critical to funding major projects looming over the horizon—or in the case of Allston, over the river...
...down from $251 million in fiscal 2003; total gifts for capital jumped to $353 million from $311 million. The latter rise partly resulted from a dramatic increase in gifts from life income funds, a newly-approved investment arrangement where donors invest in Harvard’s endowment, receive a payout each year, and give their entire stake to Harvard upon their death...