Word: petersons
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...Peterson says his primary concern is ensuring that gifts to the University are sufficient to "make sure this place doesn't atrophy." There is less concentrated inherited wealth than in the past, he says, but there is still plenty of "new wealth"--wealth that Harvard must find new ways...
...Chase N. Peterson '52, vice president of alumni affairs and development, oversees the fundraising aspect of Harvard's finances. Peterson, who left his medical practice to become Harvard's dean of admissions before joining the Development Office in 1972, says that although he is involved in fundraising efforts for numerous special projects, his primary concern is ensuring that gifts to the University are sufficient to "make sure that this place doesn't atrophy." Peterson says there is less concentrated inherited wealth than in the past, but there is still plenty of "new wealth,"--wealth that Harvard must find ways...
...Peterson must raise money to meet current costs as well as funds to cover long range construction and special projects throughout the University. Unlike many other schools such as Princeton, Yale and Cornell Universities, Harvard does not run a single major fund-raising drive lasting several years. Instead, Harvard conducts an ongoing series of mini-drives, focusing on special projects like the athletics complex, the Kennedy School and the Center for Earth and Planetary Physics...
Although two consulting firms are presently studying the feasability of switching to one consolidated drive, Peterson says he doubts the University will make the change. Harvard raises as much money or more than other universities, "without making a lot of noise about announcing a five year $300 million drive. We just go on as we are." Through the Development Office and its mini-drives, Harvard raised an average of approximately $54.2 million annually in each of the last ten years, an amount slightly greater than those other schools raise in their major drives...
...remains to be seen whether such a code will be enough to reassure a public that has grown increasingly tightfisted because of a series of Government scandals, ranging from Watergate to Koreagate. Says Peterson: "I do not believe it is excessive to say that the 'money in polities' issue has metastasized and threatens to eat away our whole political system...