Elite university donations hit a wall amid anti-Semitism criticism
Harvard University saw a decrease in donations in 2024 after criticisms over its handling of antisemitism on campus led multiple donors to cut ties with the university.
Total gifts to Harvard decreased by nearly 15% in fiscal year 2024, dropping to $1.17 billion from $1.38 billion in 2023, according to a financial report released Thursday. Several high-profile donors publicly pledged to end their support of the university citing Harvard’s failure to take a stance against antisemitism since protests took over the campus in response to Hamas’ Oct. 7, 2023 attack on Israel.
Donations to Harvard’s endowment, which makes up 37% of its revenue, decreased by 34% since 2023, falling from $561 million to $368 million, according to the report.
Harvard has been under fire for its handling of antisemitic incidents after anti-Israel protests overtook the campus and multiple Jewish students alleged the university failed to protect them. The House Committee on Education and the Workforce echoed this sentiment in December during an investigation into the university after then-president Claudine Gay refused to state whether calling for the genocide of Jews violated university policy during a congressional hearing.
Billionaire donor Len Blavatnik’s family foundation, which is responsible for at least $270 million in donations to Harvard, halted its donations in December after expressing disapproval of Gay’s comments. Billionaire Les Wexner’s Wexner Foundation similarly announced its withdrawal of support from Harvard in October of 2023 stating at the time it was “stunned and sickened” by Harvard’s failure “to take a clear and unequivocal stand against the barbaric murders of innocent Israeli civilians by terrorists last Saturday, the Sabbath and a festival day.”
Alan Garber, who took over Harvard’s presidency after Gay resigned following harsh criticism for her comments at the hearing, addressed concerns over the university’s environment in the report, stating that the university is working “to combat antisemitism and anti-Israel bias” and is “focused on rebuilding not only a sense of belonging but also genuine acceptance among members of our community.”
Columbia University’s financial report disclosed similar findings in October, seeing a decrease in donations by nearly 30% after violent anti-Israel protests plagued the university.
Harvard did not immediately respond to the Daily Caller News Foundation’s request for comment.
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