Harvard Management Company Inc
95% goes to programs Thin reserves
Harvard Management Company Inc is a 501(c)(3) organization based in Boston, Massachusetts, registered in 1974, with $132,015,552 in FY2023 revenue. CharityIndex grades it B, and it directs about 95% of spending to programs.
600 Atlantic Avenue 15th, Boston, MA, 02210 EIN 23-7361259 Since 1974
Revenue (FY2023)
$132.0M
▲ 2.6% vs prior year
Education median: $200K
Expenses (FY2023)
$132.0M
Net assets
$0
Employees
113
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B
C+Program efficiency40% of the rating95% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Harvard Management Company Inc: 95% to programs earns a C+ on this criterion. See the exact thresholds →
CFinancial health25% of the rating0 mo reserves · +0% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Harvard Management Company Inc: 0 mo reserves · +0% margin earns a C on this criterion. See the exact thresholds →
AGovernance25% of the rating5 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Harvard Management Company Inc: 5 of 6 checks met earns a A on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Harvard Management Company Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Provide investment management services to harvard university.
Contact & location
- Address
- 600 Atlantic Avenue 15th, Boston, MA, 02210
- City
- Boston
- State
- Massachusetts
- Category
- Education
- Subcategory
- Alliances, Advocacy & Professional Societies
- Phone
- …
- Website
- …
Financial trends
Revenue declined from $177.2M (FY2013) to $132.0M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $108.2MNet assets $0
Operating margin
0.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$108.2M
Total liabilities
$108.2M
Net assets
$0
Salaries & benefits
$89.0M
67% of expenses
Board members
14
10 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $132,015,552▲2.6% | $132,015,552▲2.6% | $0 | $108,236,655 | 990 |
| 2022 | $128,714,153▼12.6% | $128,714,153▼12.6% | $0 | $108,183,708▼15.5% | 990 |
| 2021 | $147,214,674▼2.1% | $147,214,674▼2.1% | $0 | $127,984,443▲3.7% | 990 |
| 2020 | $150,315,354▲35.8% | $150,315,354▲35.8% | $0 | $123,375,286▲34.7% | 990 |
| 2019 | $110,703,172▼20.1% | $110,703,172▼20.1% | $0 | $91,623,486▼1.4% | 990 |
| 2018 | $138,491,905▲8.3% | $138,491,905▲8.3% | $0 | $92,952,052▲39.9% | 990 |
| 2017 | $127,934,955▼44.6% | $127,934,955▼44.6% | $0 | $66,442,843▼60.7% | 990 |
| 2016 | $231,013,945▲34.9% | $231,013,945▲34.9% | $0 | $168,919,069▲56.5% | 990 |
| 2015 | $171,267,441▼18.6% | $171,267,441▼18.6% | $0 | $107,931,596▼22.6% | 990 |
| 2014 | $210,425,323▲18.7% | $210,425,323▲18.7% | $0 | $139,440,970▲17.1% | 990 |
| 2013 | $177,221,137 | $177,221,137▲6.8% | $0 | $119,076,213▲5.8% | 990 |
| 2012 | — | $165,971,521▲19.2% | $0 | $112,547,235▲34.8% | 990 |
| 2011 | — | $139,255,343▲26.2% | $0 | $83,518,157▲19.2% | 990 |
| 2010 | — | $110,353,188▲10.3% | $0 | $70,086,233▲32.1% | 990 |
| 2009 | — | $100,017,599 | $0 | $53,036,966 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Nirmal P Narvekar — $6,065,114 (4.59% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Nirmal P Narvekar | Md - President & Ceo | 50 | $6,065,114 |
| Richard W Slocum | Md - Cio | 60 | $4,855,885 |
| Sanjeev Daga | Md - Coo & Treasurer | 50 | $4,849,849 |
| Adam Goldstein | Md - Generalist Team | 60 | $3,585,935 |
| Carlos Saravia | Md - Generalist Team | 60 | $3,405,829 |
| Elise Mcdonald | Md - Generalist Team | 60 | $3,159,716 |
| John Shue | Md - Generalist Team | 60 | $3,142,591 |
| Marcus Loveland | Md - Generalist Team | 60 | $2,924,693 |
| Kathryn I Murtagh | Md - Cco & Clerk | 50 | $2,296,350 |
| Alan M Garber | Director As of 01/02/24 | 2 | — |
| Amy C Falls | Director | 1 | — |
| Brian Rogers | Director | 1 | — |
| Claudine Gay | Director Until 01/02/24 | — | — |
| Eric Doppstadt | Director | 1 | — |
| Jeremy C Stein | Director | 1 | — |
| Joshua S Friedman | Director | 1 | — |
| Keith Johnson | Director | 1 | — |
| Paul J Finnegan | Director & Chair | 1 | — |
| Ritu Kalra | Director | 1 | — |
| Robert Jain | Director | 1 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Citco Fund Services (USA) Inc | Admin/custodial Services | $3,622,067 |
| Bloomberg LP | Information Services | $1,605,307 |
| Ropes & Gray | Legal Services | $1,454,339 |
| Pricewaterhousecoopers LLP | Accounting Services | $864,525 |
| Shi International Corp | It Solutions | $467,838 |
Grants received · $75K total
2 grants to Harvard Management Company Inc totaling $75K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Donor Advised Charitable Giving | Education | 2021 | $25,000 |
| Donor Advised Charitable Giving | Education | 2019 | $50,000 |
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Frequently asked questions
- Is Harvard Management Company Inc a legitimate nonprofit?
- Yes. Harvard Management Company Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 23-7361259, based in Boston, Massachusetts. Donations are tax-deductible.
- What is Harvard Management Company Inc's EIN?
- Harvard Management Company Inc's Employer Identification Number (EIN) is 23-7361259.
- How much revenue does Harvard Management Company Inc report?
- Harvard Management Company Inc reported $132,015,552 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Harvard Management Company Inc's spending goes to programs?
- Harvard Management Company Inc spends about 95% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Harvard Management Company Inc have?
- CharityIndex grades Harvard Management Company Inc B, based on program efficiency and fundraising cost.
- How much does Harvard Management Company Inc's highest-paid employee make?
- The highest reported compensation on Harvard Management Company Inc's latest Form 990 is $6,065,114, paid to Nirmal P Narvekar (Md - President & Ceo).
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Data for Harvard Management Company Inc (EIN 23-7361259) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.