- Operating revenues grew 7.6 percent to $761 million, while expenses increased 6.7 percent to $704 million.
- The largest revenue growth drivers were Harvard Business Publishing (up $14 million), the annual endowment distribution (up $11 million), and current use gifts to the School (up $9 million).
- The major areas of expense growth were salary and benefits (up $15 million) and professional services (up $13 million).
- In year three of The Campaign for Harvard Business School, new gifts and pledges were $161 million, compared with $166 million in fiscal 2015.
- The return on the School’s endowment was -2 percent, compared to +5.8 percent in fiscal 2015.
- The value of the School’s endowment (after the net impact of distributions from the endowment and the addition of new gifts during the year) decreased to $3.2 billion, from $3.3 billion a year earlier.
- Capital investments in campus facilities and new construction increased to $113 million, from $81 million in fiscal 2015.
- The School generated an operating surplus of $57 million, compared with $47 million for the prior year.
- HBS ended fiscal 2016 with an unrestricted reserves balance of $103 million, compared with $125 million a year earlier.
- Total net assets decreased to $4.2 billion, from $4.3 billion at the end of fiscal 2015, reflecting the impact of negative endowment investment returns and the annual distribution from the endowment for operations.
