Harvard's philanthropic fortunes took a dramatic turn in fiscal year 2025, with current-use donations soaring to a record-breaking $629 million, a 19% increase from the previous year. This surge came as a welcome relief after the University faced a $113 million operating deficit and major federal funding disruptions. The contrast with 2024 is stark; that year, Harvard's philanthropic contributions plummeted by $151 million due to controversy over its handling of campus antisemitism. Harvard President Alan M. Garber, acknowledging the fundraising shortfall in 2024, warned of potential long-term threats to the University's operations. However, the 2025 report celebrated a remarkable turnaround, with Garber emphasizing the donations' role in ensuring the University's resilience and future ambitions. Despite a slight dip in endowment donations, overall contributions increased from $1.17 million in 2024 to $1.3 million in 2025. The surge in current-use gifts was particularly notable, with a $100 million increase, and a wave of small-dollar donations following Harvard's public rebuke of the White House. This support, credited to the extraordinary generosity of donors, helped mitigate the impact of a federal funding freeze and threats to international student enrollment. The University's financial officers praised the donors' support, highlighting its stabilizing role and catalytic impact on discovery and renewal. A correction was also issued, clarifying that overall gifts had actually increased, not declined, between the two fiscal years.
