Harvard Management Company Inc

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1974

Legal Domicile

Phone

6177206682

Tax Period

2022-07-01 to 2023-06-30

Harvard Management Company Inc, founded in 1974, is a major nonprofit in the Education sector that reported $128.7M in total revenue in fiscal year 2022. Revenue decreased 13% compared to the prior year.

Mission

PROVIDE INVESTMENT MANAGEMENT SERVICES TO HARVARD UNIVERSITY.

Program Service Accomplishments

Program 1

Expenses: $120,017,347 Revenue: $128,714,153

HARVARD MANAGEMENT COMPANY, INC. WAS ESTABLISHED TO PROMOTE THE EDUCATIONAL PURPOSES OF PRESIDENT AND FELLOWS OF HARVARD COLLEGE, A NONPROFIT INSTITUTION FOR HIGHER EDUCATION, BY PROVIDING INVESTMENT RESEARCH, ADVICE, COUNSEL AND MANAGEMENT TO AND FOR THE BENEFIT OF PRESIDENT AND FELLOWS OF HARVARD COLLEGE AND SUCH ORGANIZATIONS AFFILIATED THEREWITH OR RELATED THERETO AS THEY MAY DESIGNATE, PROVIDED THAT SUCH ORGANIZATIONS FURTHER THE EDUCATIONAL PURPOSES OF PRESIDENT AND FELLOWS OF HARVARD COLLEGE. THE PRESIDENT AND FELLOWS OF HARVARD COLLEGE MAKES PAYMENTS TO HARVARD MANAGEMENT COMPANY, INC. TO FUND THE EXPENSES INCURRED IN CARRYING OUT ITS EXEMPT PURPOSE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $128,714,153

Investment Income $0

Other Revenue $0

TOTAL REVENUE $128,714,153

Expense Breakdown

Grants Paid $0

Salaries & Benefits $89,935,689

Fundraising Expenses $0

Program Expenses $120,017,347

Other Expenses $38,778,464

TOTAL EXPENSES $128,714,153

Year-over-Year Comparison

	2022	2021	Change
Revenue	$128,714,153	$147,214,674	-0.1%
Expenses	$128,714,153	$147,214,674	-0.1%
Net Income	$0	$0	N/A

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

128

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$15,949,482

Total Directors

$12,741,200

Key Employees

$7,748,129

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	MD - President & CEO	50.0	Officer Director	$9,602,531	$65,735	$9,668,266
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	Director	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$60,161	$612,785
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	2.0	Director	$0	$423,243	$1,757,109
N/A	DIRECTOR & CHAIR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$72,261	$703,040
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	DIRECTOR	1.0	Director	$0	$0	$0
N/A	MD - CCO & CLERK	50.0	Officer	$2,252,121	$46,222	$2,298,343
N/A	MD - COO & Treasurer	50.0	Officer	$3,915,776	$67,097	$3,982,873
N/A	MD - CIO	60.0	Key Emp	$7,682,394	$65,735	$7,748,129
N/A	MD - GENERALIST TEAM	60.0	Highest	$5,936,995	$65,393	$6,002,388
N/A	MD - Generalist Team	60.0	Highest	$6,614,167	$65,399	$6,679,566
N/A	MD - Generalist Team	60.0	Highest	$5,158,359	$73,279	$5,231,638
N/A	MD - Generalist Team	60.0	Highest	$5,078,775	$65,477	$5,144,252
N/A	MD - GENERALIST TEAM	60.0	Highest	$4,272,960	$65,399	$4,338,359

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$128,714,153	$128,714,153	$108,183,708	No data
2022	$147,214,674	$147,214,674	$127,984,443	No data
2021	$150,315,354	$150,315,354	$123,375,286	No data
2020	$110,703,172	$110,703,172	$91,623,486	No data
2019	$138,491,905	$138,491,905	$92,952,052	No data
2018	$127,934,955	$127,934,955	$66,442,843	No data