Harvard defies expectations with $525 million surge in donations, second-highest on record despite year of controversy

Hundreds of graduates walked out of the 2024 Commencement in Harvard Yard to call attention to the plight of Palestinians. (Credit: Craig F. Walker—The Boston Globe/Getty Images)

In a year that saw leadership turnover, public protests, and plagiarism allegations, the fundraising machine at Harvard University still saw its second-highest donation haul in its 388-year history.

The world’s wealthiest university on Thursday reported receiving more than $525 million in current-use donations during fiscal year 2024, a signal of unshaken donor faith during a year of turbulence. However, most of those funds came from payments on prior pledges, and Harvard’s financial leaders warned that these levels might be in jeopardy in the future. Many had expected far worse fundraising numbers after groups explicitly threatened to withhold donations, and after Harvard president Alan M. Garber told The Harvard Crimson last week that this year’s haul was “disappointing.”