Transcription of Financial Report FISCAL YEAR 2020 - Harvard University
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Financial Report FISCAL YEAR 2020 - Harvard University
Financial Report FISCAL YEAR 20201 Harvard University TABLE OF CONTENTS2 MESSAGE FROM THE PRESIDENT 3 Financial OVERVIEW 9 MESSAGE FROM THE PRESIDENT AND CEO OF Harvard MANAGEMENT COMPANY 13 Report OF INDEPENDENT AUDITORS 14 Financial STATEMENTS 18 NOTES TO Financial STATEMENTSHARVARD University MESSAGE FROM THE PRESIDENT2 Message from the President I am pleased to submit Harvard University s Financial results for FISCAL year 2020. The end of FISCAL year 2020 ushered in the beginning of a pandemic that has changed our world in profound ways.
Boston area in late February and early March ... the University showed a loss for the year of $10 million from operations, compared ... voluntary early retirement benefit program for eligible staff, and the write-down of select assets. The loss would have been far greater without the implementation of immediate cost control efforts
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