February 5, 2004

Going for Greater Returns

By Debra E. Blum

Harvard offers novel investment option to donors

Harvard University has broken the mold for investing charitable-gift assets.The university is using a novel ruling it received from the Internal Revenue Service in October to allow donors to invest their contributions along with the institution's high-performing endowment.

Over the 10-year period that ended in June, Harvard's endowment -- one of the nation's largest -- had annualized returns of nearly 15 percent, about

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