President and Fellows of Harvard College

“Mariano-florentino cuellar and penny pritzker have a business relationship because of their respective positions as officer and trustee at carnegie endowment for international peace.”

“Certain actions of the harvard corporation, such as the election of new corporation members, the conferral of degrees, and amendments to the university statutes, are subject to the consent of the university's board of overseers.”

“The form 990 was reviewed by the university's tax return review committees, comprising senior finance staff, and internal and external counsel. The form 990 was also reviewed by the university's joint committee on inspection, consisting of members of the harvard corporation and the board of overseers. The final form 990 was provided to the entire harvard corporation before it was filed.”

“Annually, the university's office of the general counsel distributes a copy of the harvard university policy on conflicts of interest and commitment for senior officers and senior administrators, and an annual disclosure form, to the individuals subject to the policy. The completed forms are reviewed by the office of the general counsel. A parallel process is carried out annually by the office of the governing boards for the university's governing body. The completed disclosure forms of members of the governing body are reviewed by both the office of the general counsel and the secretary of the university.”

“The following is a description of the annual compensation review process (cross-reference schedule j, part i, line 3). The most recent review conducted that applies to the compensation reported in schedule j occurred in may 2023. The office of human resources conducts an annual review during the harvard corporation meetings. All internal reviews and new salary recommendations are conducted in advance of the corporation meeting, generally including recommendation by the president of compensation other than the president's own. The provost and the executive vice president additionally provide recommendations on those individuals for whom they have organizational responsibility, subject to the approval of the president. During the meeting, the corporation, which in full serves as the compensation committee, reviews each of the president's proposals for final approval. The president does not participate in the deliberations or the vote on the president's own compensation. All votes are memorialized in minutes and preserved, together with all background data and materials provided by the office of human resources. This annual review process includes the compilation of appropriate comparability compensation data for each position included in the review. The compensation committee obtains and relies upon appropriate compensation market survey data and analysis in each case prior to making its determination. For this purpose, the principal source of such data is an annual report provided by an outside consultant. Additional comparability data for review of the president's compensation has been drawn from a second external source that is compiled annually and from publicly available form 990 information. The individuals to whom the process is applied are the following: 1. The officers of the university, including the president, provost, secretary, executive vice president, and all vice presidents; 2. The deans of the faculties, including key employees; 3. Certain other senior university personnel.”

“The annual compensation review process described above applies to other officers and key employees.”

“Harvard university makes its annual financial statements available on its website. Harvard's conflict of interest policy for senior officers and senior administrators is available on harvard's intranet, accessible to members of the harvard community. Harvard's public charter is available upon request.”

“The university does not track hours worked by trustees, officers, key employees, and highest compensated employees. The average hours worked reported on part vii, column (b) are estimates, with 60 hours per week as an approximation for full-time employment. The hours per week devoted to related organizations represents an estimate of time the individual spends in his/her capacity as a member of the board of directors and/or as an employee of harvard affiliates.”

“Lawrence s. Bacow was president until june 30, 2023 and, therefore, hours reported in column b relate to that time period. Claudine gay was president from july 1, 2023 to january 2, 2024. Alan garber was provost until january 2, 2024 and then began his role as interim president. Nitin nohria was dean of harvard business school until december 31, 2020 and then returned to his role as faculty of business. Michael d. Smith was dean of faculty of arts and sciences until august 14, 2018 and then returned to his role as faculty of arts and sciences. Thomas j. Hollister was v.p. For finance and c.f.o. Until june 30, 2023 and then began his role as strategic advisor until december 31, 2023.”

“Fellow biddy martin had a paid academic appointment during calendar year 2023 unrelated to her work as a member of the harvard corporation. The compensation for her academic services is reported in form 990, part vii, section a, column (d).”

“- Total Revenue: XXX-XX-XXXX, Related or Exempt Function Revenue: XXX-XX-XXXX, Unrelated Business Revenue: 30002548, Revenue Excluded from Tax Under Sections 512, 513, or 514: 41406229;”

“As required by the form 990 instructions, the number reported on part i, line 5 represents the total number of forms w-2 produced by the university during calendar year 2023. This includes payments for work study and certain teaching fellows, as well as short-term employment. The total head count for faculty and staff as reported on the harvard university fact book for october 31, 2023 was 19,777.”

“Harvard is fortunate to benefit from the services of volunteers across its numerous schools, departments, and programs. While harvard does not formally track or elsewhere report the number of its volunteers, the university estimates that this figure exceeds 10,000.”

“Change in retirement obligations - -4188674; other changes in split interest agreements - 5882951; transfers to/from affiliate organizations - 54561446; other change in net assets - -54854765;”

“Amounts reported are estimated based on the best available data. University activities include academic support, institutional support, instruction, research and other academic activity, service centers, and student services.”

“Amounts and number of recipients listed are estimates based on the best available data.”