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Harvard and UPenn donors are furious. It may have a financial domino effect

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Summary

Donors to Harvard University and the University of Pennsylvania have cut ties with these schools in protest of their response to alleged anti-Israel speech and antisemitism on campus. This could have a financial domino effect for these wealthy Ivy League schools over the long run, as philanthropy makes up 45% of revenue at Harvard and 1.5% of revenue at UPenn. This backlash is a result of long-simmering tensions and the rise of the Boycott, Divestment, Sanctions movement on college campuses. Harvard President Claudine Gay addressed the matter three days after the student group’s letter was posted, while UPenn President Liz Magill conceded that the response to the Palestine Writes Literature Festival was inadequate.

Q&As

What is the financial impact of major donors cutting ties with Harvard and UPenn?
The financial impact of major donors cutting ties with Harvard and UPenn could hurt these schools over the long run, and could convince smaller donors to end their contributions, hurt alumni relations, impact college admissions and put pressure on the president or members of the board of trustees.

What is the significance of philanthropy in college funding in the US?
Philanthropy is a key part of college funding in the United States, and is the single largest contributor to revenue at Harvard, accounting for 45% of the university’s $5.8 billion in income last year. At UPenn, philanthropic gifts accounted for 1.5% of the university’s $14.4 billion in revenue last year.

What are the reasons for the simmering tensions between donors and these universities?
The donor backlash is a boiling over of long-simmering frustrations some right-wing donors have had toward colleges’ handling of antisemitism and anti-Israel protests from left-wing students stretching back years. This includes the events impact on visiting fellows from Israel, and the growth of the Boycott, Divestment, Sanctions (BDS) movement on college campuses in recent years.

What have been the responses of Harvard and UPenn to the allegations of antisemitism?
Harvard President Claudine Gay condemned “the terrorist atrocities perpetrated by Hamas” as “abhorrent” and said that the student groups didn’t speak for the institution. UPenn President Liz Magill conceded over the weekend that the response to the Palestine Writes Literature Festival was inadequate, and said she knows how “painful the presence of these speakers” on campus was for the Jewish community.

How have the student groups responded to the allegations of antisemitism?
The student groups released an anti-Israel statement after the attacks on October 7, which set off a firestorm of criticism, doxxing of students, and prompted some student groups to withdraw their endorsements of the letter. (Some students said they had not seen the statement until after it was released.) The group later wrote in a statement that the group “staunchly opposes violence against civilians — Palestinian, Israeli, or other.”

AI Comments

👍 This article shows how philanthropy is a key part of college funding in the US and how universities are responding to donor backlash in an appropriate manner.

👎 This article does not discuss the potential implications of donor backlash for smaller institutions, which could be more exposed to potential financial repercussions.

AI Discussion

Me: It's about Harvard and UPenn donors being furious over the college administrators' response to alleged anti-Israel speech and antisemitism on campus. The article talks about the implications of donor backlash for universities, both in the short and long term. It also talks about the rise of philanthropy in higher education and why donor relationships are so important to universities. Finally, it talks about the long-simmering tensions between left-wing students and right-wing donors over issues like the Boycott, Divestment, and Sanctions (BDS) movement.

Friend: Wow, that sounds like a really important issue and it's interesting to see how it could impact universities. It's also concerning to see how this tension between donors and students has been going on for so long. Do you think this could lead to more universities taking a strong stance on issues like this?

Me: Definitely. I think this could lead to universities reevaluating their approach to donor relations and taking a stronger stance on controversial issues. It could also lead to universities creating better systems to address antisemitism on campuses and provide a safe environment for all students.

Action items

Research other universities and their responses to the Hamas attacks and anti-Israel statements.
Reach out to alumni and other donors to gauge their opinion on the issue and how it may affect their future donations.
Educate yourself on the Boycott, Divestment, and Sanctions (BDS) movement and its impact on college campuses.

Technical terms

Donors: Individuals or organizations that give money or other resources to a cause or organization.
Domino Effect: A situation in which one event causes a series of similar events to happen.
Hamas: A Palestinian militant group that has been designated as a terrorist organization by the United States and other countries.
Doxxing: The practice of searching for and publishing private or identifying information about a particular individual on the Internet, typically with malicious intent.
Boycott, Divestment, Sanctions (BDS): A global movement that seeks to pressure Israel to end its occupation of Palestinian territories through boycotts, divestment, and economic sanctions.
Endowment: A sum of money or other resources given to an institution, typically a university, to be used for a specific purpose.
Philanthropy: The practice of giving money and time to help make life better for other people.