Word: terme
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Dates: during 2000-2009
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...Harbor.But beneath her unobtrusive exterior, Mendillo, CEO of Harvard Management Company, harbors a wealth of investment knowledge. She commands the respect of colleagues at Harvard and elsewhere, who laud her unceasing composure during a sudden and unanticipated financial meltdown, her decisiveness under time constraints, and her focus on long-term investment success. “Truly, of all the people I’ve ever run across in the investment world, she was the most impressive,” says Andrew B. Evans, treasurer and vice president for finance at Wellesley College, where Mendillo managed the endowment for six years...
...bolster the University’s cash reserves. Instead of winning donors over with plans for a new building dedicated to cutting-edge research, University leaders changed tactics and approached them for current use gifts and unrestricted funds to sustain Harvard’s core activities in the short-term.“We felt that it is very important to have resources to make immediate interventions that will have good outcomes in the long-term,” Faust says, citing the need for greater flexibility in diverting funds. Unrestricted funds can be used at the discretion of University...
...every student, faculty member, and alum is aware that the global financial calamity has influenced every component of University finances: endowments, private philanthropy, and gifts from cash-strapped foundations. While stimulus funds have temporarily swelled the budgets of federal science agencies, the long-term picture for government funding is hazy at best, and may fall victim to deficit-cutting two years from now. Within Harvard, the deans and central administrators have had the unenviable task of cutting budgets in order to match our expenses to our newly constrained resources. We have all spent many hours since October engaged in these...
...deans are also keenly aware that we must be strategic, protecting essential investments, such as financial aid, and even growing in a small number of critically important areas. Indeed, several University-wide committees have been focused on how we can make Harvard stronger in priority areas in the near term, albeit with smaller investments than we would make in other times. These committees, made up of faculty members and deans, include the Harvard University Committee on Science and Engineering, the University Planning Committee on Social Sciences, and the University Library Task Force...
...Budgetary projections will likely influence Faust’s thinking on the importance of appointing a candidate who can immediately manage the budget—if endowment managers project that spending will be constrained in the long term by disappointing endowment performance, then administrative capabilities are likely to weigh more heavily in her decision, Tushnet says...