Harvard Management Company
Overview
Mission
HMC manages Harvard University’s endowment and related financial assets to help ensure Harvard University has the financial resources to confidently maintain and expand its leadership in education and research for future generations. A Singular Mission Formed in 1974, HMC manages Harvard University’s endowment and related financial assets. Our mission is to help ensure Harvard University has the financial resources to confidently maintain and expand its leadership in education and research for future generations. Formed in 1974, HMC manages Harvard University’s endowment and related financial assets.
What it reported doing in 2018
Harvard private capital holdings, inc. Invests funds for the benefit of president and fellows of harvard college, a related 501(c)(3) supported organization.
Operating model
- Revenue model
- Investment-supported. 100% of the money available for current operations came from recurring investment income.
- Distribution model
- Direct operator. The nonprofit carried out 100% of its reported program work directly.
Nonprofit profile at a glance
- EIN
- 043070519
- IRS 990 coverage
- 2009–2018
- Website reviewed
- Jul 2026
- Forms available
- Form 990 2018
- Headquarters
- Boston, Massachusetts, United States
- Rating
- 40
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Education
The verdict
MIXED - The strongest available result is that a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.
Rating breakdown
- Financial Efficiency: 46
- Transparency & Controls: 38
- Accountability: 26
- Sustainability: 54
- Growth: 40
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 12.5%; rating input score 13
- Program expense ratio: 100%; rating input score 100
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 71st percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Foreign activity oversight: Scored; rating input score 0
- Grant itemization coverage: Scored; rating input score 0
- Major donor itemization: Limited
- Related-party transparency: Yes; rating input score 100
- Public monitoring controls: 0 of 8 controls in place; rating input score 0
- Public policy transparency: 1 of 7 controls in place; rating input score 14
- Public financial transparency: 1 of 5 controls in place; rating input score 20
- Impact reporting controls: 3 of 7 controls in place; rating input score 43
- Public relationship transparency: No; rating input score 0
Accountability
- Independent voting board: 0%; rating input score 0; 4th percentile among comparable filings
- Governance controls: 5 of 9 controls in place; rating input score 56
- Public governance controls: 2 of 4 controls in place; rating input score 50
- Zakat policy transparency: Limited
Sustainability
- Operating margin: 98.3%; rating input score 100; 100th percentile among comparable filings
- Operating reserve ratio: 0; rating input score 0; 0th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 10%; rating input score 3; 3rd percentile among comparable filings
Growth
- Program expense growth: -4.4% per year; rating input score 0; 4th percentile among comparable filings
- Revenue growth: 3.1% per year; rating input score 100; 32nd percentile among comparable filings
- Asset growth: -9.9% per year; rating input score 0; 2nd percentile among comparable filings
Details
- What they do: 1 operating location identified
- Where the money goes: 12.5% of revenue deployed · 100% of spending went to programs
- Governance: 0 of 3 board members independent · 5 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $15.3M in reported program spending
- Leadership: top reported pay $8.6M · 4 people listed · 0 of 6 pay-setting controls reported
- Consistency: 10 of 10 current checks pass
- Schedules: 7 filed schedules · includes foreign activity, executive pay, and related organizations
- Filing history: 10 annual filings from 2009 to 2018
- Money network: 1 filed money-flow record
- Related organizations: 277 filed related-organization links