Financial Data

IN MILLIONS For the Fiscal Year ended June 30...	2020	2019	2018	2017	2016
Revenues	$ 861 m.	925	856	800	761
Expenses	$ 831 m.	821	766	731	704
Cash from Operations	30	104	90	69	57
Capital Investments	43	38	92	78	113
Building Debt Outstanding	40	46	55	64	71
Unrestricted Reserves	174	129	118	145	103
Endowment	4,092	3,985	3,787	3,472	3,209
Total Assets	$ 5,558	$ 5,420	$ 5,208	$ 4,821	$ 4,508

MBA Program

	2020	2019	2018	2017	2016
Applications	9,304	9,228	9,886	10,351	9,759
Percent Admitted	13%	12%	11%	11%	11%
Yield	85%	89%	91%	91%	90%
Enrollment	1,877	1,881	1,870	1,879	1,883
Tuition	$ 73,440	$ 73,440	$ 72,000	$ 63,675	$ 61,225
Average Fellowship Aid Per Student	$ 42,225	$ 42,034	$ 38,959	$ 37,312	$ 35,571

Doctoral Programs

	2020	2019	2018	2017	2016
Applications	797	748	864	915	843
Percent Admitted	4%	5%	4%	4%	5%
Yield	87%	81%	64%	79%	66%
Enrollment	133	131	134	132	134

Executive Education

	2020	2019	2018	2017	2016
Enrollment	10,881	12,605	12,070	11,361	10,855

HBS Online

	2020	2019	2018	2017	2016
Participants	28,839	19,304	12,936	9,142	6,634

Faculty

	2020	2019	2018	2017	2016
Faculty Positions (full-time equivalents)	244	233	225	233	233
Teaching Materials	676	626	642	573	566
Research Articles on HBR.org	231	177	199	182	174
Books	15	14	11	14	23

Staff

	2020	2019	2018	2017	2016
Staff Positions (full-time equivalents)	1,839	1,761	1,721	1,680	1,631

Publishing

	2020	2019	2018	2017	2016
Cases Sold	15,209,000	14,539,000	15,062,000	14,859,000	13,468,000
Harvard ManageMentor Active Users	5,037,000	2,837,000	2,430,000	3,200,000	3,478,000
HBR.org Average Monthly Visitors	9,956,000	6,916,000	7,153,000	7,012,000	5,511,000