Will Harvard Continue to Lead the Charge? - Part 77

From Inside Higher Ed: Harvard University ended fiscal year 2025 with a $113 million operating deficit, according to its annual financial report—the first such loss in more than a decade, Harvard Magazine reported. That follows a $45 million surplus in FY 2024.

The report, published [last] Thursday, showed that revenue and expense growth both slowed in FY 2025, which ended June 30, but expenses still rose twice as fast as revenue—6 percent versus 3 percent. The deficit reflects “some effects of the Trump administration’s unprecedented fiscal and regulatory assault” on Harvard and higher education more broadly, Harvard Magazine noted. While the report itself doesn't mention President Trump by name, it suggests that Harvard is steeling itself for more battles with the government.

TPM at Harvard

“Looking forward, daunting challenges await: the declining trajectory of federal research support, the forthcoming increase in the endowment tax, the still-unfolding challenges to our ability to host international students and scholars and ongoing litigation—all against the backdrop of serious geopolitical and economic pressures and the potential for significant inflation,” Harvard treasurer Timothy Barakett and Ritu Kalra, vice president for finance and chief financial officer, wrote in the report.

“Structural changes and reductions across our Schools and units will be necessary, and they will not be easy. Our work is far from finished.” ...

Full story at https://www.insidehighered.com/news/quick-takes/2025/10/20/harvard-runs-deficit-even-endowment-grows-sharply.