Harvard: Follow the Money
The Crimson reports today on Harvard's oft-delayed capital campaign, noting that it won't start until 2008 at least, according to outgoing finance chief Donella Rapier. The argument, of course, is that a major campaign can't start until a new president is in place.
Rapier isn't specific about when in 2008, but it would have to be the fall at the earliest. Assuming a new president takes office in September '07, that person would need at least a year before beginning a huge fund drive that would consume vast quantities of his or her time—if not longer. Neil Rudenstine, remember, took two years before he commenced his hugely successful drive, and Rudenstine wasn't inheriting a wounded and divided university.
So perhaps 2009, then?
In any case, the consequences of this timetable are interesting, because candidates for the president's job are a) going to have to be good at raising money, and b) willing to start a huge campaign very soon after taking office—something Larry Summers was promised he would not have to do. That might well discourage some qualified candidates from considering the Harvard job.
Plus, there's the whole unreported story of what a mess the college's finances are said to be in—the gifts counted as booked but not, the massive financial commitments to the sciences in Alston, the soaring costs of the central administration, the cooking of the fundraising numbers for the past couple of years.....
_______________________________________________________________
Correction. As I've mentioned before, I'm always appreciative when readers point out mistakes—I dish it out, etc.—and there are a couple big ones in the post above. Donnella Rapier is, of course, not Harvard's "outgoing fnance chief"—that was Ann Berman—who has already departed—she is the Vice-President for Alumni Affairs and Development. My apologies to Ms. Rapier, Ms. Berman, and Mr. Berman, the valiant husband/poster who has weighed in more than once to correct me when I have erred. Mr. Berman (if your surname is indeed that of your wife's), may I suggest a blog? I have a feeling you might be very good at this....
