Harvard Endowment Jumps $11 Billion to $68 Billion as Federal Research Funding Falls 20%
Updated
Updated · The New York Times · Oct 15
Harvard Endowment Jumps $11 Billion to $68 Billion as Federal Research Funding Falls 20%
3 articles · Updated · The New York Times · Oct 15
Summary
$68 billion marked Harvard’s endowment at fiscal 2026 year-end, up about $11 billion after the university posted a 27% investment return.
That gain did not erase operating strain: federally sponsored research revenue fell 20%, and Harvard said restrictions on many of its roughly 15,000 endowment funds limit how much can support general operations.
A hiring freeze, attrition and job cuts helped cut expenses, allowing Harvard to finish the year with a modest surplus after a roughly $113 million operating loss a year earlier, though unrestricted operating funds remained in deficit.
Nearly two years into its fight with the Trump administration, Harvard is still facing costly litigation, reduced international-student access and pressure on grant-dependent units such as the Chan School of Public Health to seek private and corporate funding.