Harvard Corporation

Harvard Corporation is the main governing body of Harvard University, comprising Massachusetts Institute of Technology-educated Lawrence Summers, Drew Gilpin Faust, and other esteemed individuals, including Nannerl Keohane and Robert Rubin. The corporation is responsible for managing the university's finances, academic programs, and overall strategy, often in consultation with Yale University President Richard Levin and Stanford University's John Hennessy. As a key component of Harvard University's governance structure, the corporation works closely with the Harvard Board of Overseers, Massachusetts General Hospital, and the Broad Institute of MIT and Harvard to advance the university's mission.

● History of

the Harvard Corporation The Harvard Corporation was established in 1650, with the signing of the Massachusetts Bay Charter, which granted the institution a charter to operate as a college, with the support of John Winthrop and John Cotton. Over time, the corporation has undergone significant changes, including the addition of new members, such as Charles W. Eliot and A. Lawrence Lowell, and the expansion of its responsibilities to include oversight of Harvard Business School, Harvard Law School, and the Harvard John F. Kennedy School of Government. The corporation has also played a key role in shaping the university's academic programs, including the development of the Harvard College curriculum and the establishment of the Harvard Graduate School of Arts and Sciences. Notable figures, such as Alan Dershowitz, Noam Chomsky, and Stephen Jay Gould, have been involved in the corporation's decision-making processes, often in collaboration with MIT's Sloan School of Management and Columbia University's Graduate School of Business.

● Governance and Structure

The Harvard Corporation is composed of seven members, including the President of Harvard University, who serves as the corporation's chair, as well as other prominent individuals, such as Robert B. Shapiro and James R. Houghton. The corporation is responsible for setting the university's overall direction and strategy, in consultation with the Harvard Faculty of Arts and Sciences, the Harvard School of Public Health, and the Harvard School of Engineering and Applied Sciences. The corporation also works closely with other governing bodies, including the Harvard Board of Overseers and the Massachusetts State Legislature, to ensure that the university is operating in accordance with its charter and the laws of the Commonwealth of Massachusetts. Additionally, the corporation has established relationships with other institutions, such as University of California, Berkeley, University of Oxford, and University of Cambridge, to advance its academic and research goals.

● Membership and Fellows

The members of the Harvard Corporation are chosen for their expertise and experience in fields such as finance, law, and academia, and include individuals such as Jessica Tuchman Mathews and William F. Lee. The corporation also has a number of fellows, including Henry Louis Gates Jr. and Sandra Day O'Connor, who provide advice and guidance on specific issues, often in collaboration with New York University's Stern School of Business and University of Chicago's Booth School of Business. The corporation's members and fellows have included a number of notable figures, such as John F. Kennedy, Theodore Roosevelt, and Franklin D. Roosevelt, who have played important roles in shaping the university's history and direction. Other notable individuals, such as Ruth Bader Ginsburg, Stephen Breyer, and David Souter, have also been involved with the corporation.

● Responsibilities and Duties

The Harvard Corporation is responsible for a wide range of activities, including managing the university's endowment, which is one of the largest in the world, and overseeing the university's investment portfolio, in consultation with Goldman Sachs and Morgan Stanley. The corporation also plays a key role in shaping the university's academic programs, including the development of new curricula and the establishment of new research centers, such as the Wyss Institute for Biologically Inspired Engineering and the Harvard-MIT Division of Health Sciences and Technology. Additionally, the corporation is responsible for ensuring that the university is operating in accordance with its charter and the laws of the Commonwealth of Massachusetts, and works closely with the Massachusetts Attorney General and the United States Department of Education to ensure compliance.

● Relationship with Harvard University

The Harvard Corporation has a close relationship with Harvard University, and works closely with the university's faculty, staff, and students to advance the university's mission, in collaboration with Boston University, Tufts University, and Brandeis University. The corporation is responsible for setting the university's overall direction and strategy, and works closely with the university's other governing bodies, including the Harvard Board of Overseers and the Harvard Faculty of Arts and Sciences, to ensure that the university is operating effectively and efficiently. The corporation also has relationships with other institutions, such as Stanford University, University of California, Los Angeles, and Carnegie Mellon University, to advance its academic and research goals.

● Criticisms and Controversies

The Harvard Corporation has faced a number of criticisms and controversies over the years, including concerns about the university's investment practices, its diversity and inclusion efforts, and its governance structure, with some critics, such as Noam Chomsky and Howard Zinn, arguing that the corporation is too secretive and unaccountable. The corporation has also faced criticism for its handling of certain issues, such as the Harvard University presidency and the Harvard University faculty's role in university governance, with some critics, such as Alan Dershowitz and Lawrence Lessig, arguing that the corporation has too much power and influence. Despite these criticisms, the corporation remains a key component of Harvard University's governance structure, and continues to play an important role in shaping the university's direction and strategy, in consultation with Yale University's President Richard Levin and Stanford University's President John Hennessy.