Word: uc
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...UC asserts that its capital campaign is open-ended and will produce valuable funds even if the purchase of 45 Mt. Auburn never materializes. But this logic fails to consider that, while collecting $6 million from recession-pinched alums for the clear goal of a building purchase is difficult enough, trying to raise the same amount with only a vague appeal to “social space” would be flatly impossible...
Social space at Harvard is a real problem. But the Undergraduate Council’s potential purchase of 45 Mt. Auburn Street is an even bigger one. While admirably motivated, the plan is not a feasible solution and should be abandoned immediately. We commend the UC for working to solve the important issue of social space on campus, but its fixation on purchasing this particular property is unwise...
...UC has apparently failed to take into account the numerous flaws in its acquisition plan, which undermine the entire endeavor. This past Tuesday, less than three weeks before the end of exams, all Harvard undergraduates received “personal” e-mails soliciting their services as paid fundraisers for the capital campaign the UC will launch over the summer to raise approximately $6 million in no fewer than 16 months. Given the scope of the project and the current economic climate, this lofty goal seems highly unrealistic. However, anything shy of this target will likely be insufficient...
...regardless of whether it has the fundraising capabilities to meet its impossibly high targets, the UC may not even be able to receive donations given its legal status. As of now, it has received a $4,000 donation that it can only accept either via a “gift account” or “pledge account” created in conjunction with the university, since the UC has yet to earn full 501(c)(3) status...
...social space purchase made by the UC would likely have to be funded mostly by the capital campaign. It is unlikely that the Council will finish the year with more than a few thousand dollars outside their reserve fund...