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Reply to "Billionaire Ken Griffin just donated to & got naming rights to Harvard GSAS"
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[quote=Anonymous][quote=Anonymous]Can someone explain to me why Harvard needs donations when they have such a huge endowment? Why solicit money at all?[/quote] I can’t speak to Harvard specifically, but in general, funds in endowments are restricted in what they can be used for. They can’t just pull $300M out of existing funds for A&S Ph.D. programs and faculty salaries. And because alums of these graduate programs almost never go on to make big bucks, relative to, say, alums of law or business schools, finding alumni to give back in this particular area is very difficult.[/quote]
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