-
Operating revenues grew 5.1 percent to $800 million, while operating expenses increased
3.8 percent to $731 million.
-
The largest revenue growth drivers were Executive Education (up $15 million) and
the annual endowment distribution (up $8 million).
-
The major areas of expense growth were salaries and benefits (up $18 million) and
space and occupancy (up $6 million).
-
In year four of The Harvard Business School Campaign, new gifts and pledges increased
to $233 million, from $161 million in fiscal 2016.
-
The return on the School’s endowment increased to 8.1 percent, from -2 percent in
fiscal 2016.
-
The value of the School’s endowment (net distributions and the addition of new gifts
during the year) increased to $3.5 billion, from $3.2 billion a year earlier.
-
Capital investments in campus facilities and new construction decreased to $78 million,
from $113 million in fiscal 2016.
-
The School generated an operating surplus of $69 million, compared with $57 million
for the prior year.
-
HBS ended fiscal 2017 with an unrestricted reserves balance of $145 million, compared
with $103 million a year earlier.
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The School’s total net assets increased to $4.5 billion, from $4.2 billion at the
end of fiscal 2016, primarily reflecting the impact of growth in the market value
of the endowment.
