Harvard’s decision to rename schools has opened the charity floodgates
For most of its history, Harvard did not rename its schools after big benefactors.
The university, launched in 1636 as “New College,’’ was re-named for its first major donation from John Harvard back in 1638. The Graduate School of Public Administation was renamed the Kennedy School of Government, but that was as a memorial to the recently killed president.
And that’s it. No other schools had been named for specific people or Harvard alumni. (A number of athletic facilities and stadiums have, however.)
“Harvard is unusual that they haven’t done a lot of naming, but [big donations are] very common,’’ says Maria Di Mento of the Chronicle of Philanthropy. “For Harvard, yes, they haven’t done that a lot. For peer institutions and others, it’s not unusual.’’
Harvard’s exceptionalism is no longer the case.
Last fall, Gerald Chan donated $350 million to Harvard to rename the School of Public Health for his father.
The second such multi-hundred million dollar donation was announced on Wednesday, as billionaire hedgefund manager John Paulson agreed to donate $400 million to the School of Engineering and Applied Sciences. The school will henceforth be known as the Harvard John A. Paulson School of Engineering and Applied Sciences.
That those two have come in the past year isn’t a coincidence. Harvard is in the midst of a $6.5 billion fundraising campaign that began in September 2013, and Chan’s and Paulson’s donations make up more than 10 percent of that total in two swoops.
But you don’t have to read too deeply into the tea leaves here. In an interview with reporters on Wednesday, Harvard President Drew Gilpin Faust was asked what goes into the decision to rename a school.
“Well, we’ve looked at the schools and thought about what would a gift be that would have a huge and transforming [effect] on that school,’’ Faust said. “That has been the criteria for looking at what we would undertake.’’
Until last year, John Harvard and John F. Kennedy were the only people with their names on a Harvard school.
Similarly, Harvard Treasurer Paul Finnegan told The Harvard Crimson last year after Chan’s donation that more school namings could be coming.
“If anyone is considering a gift at this level or higher, and is proposing naming rights, the [Harvard] Corporation should give it full consideration,’’ Finnegan said.
Di Mento said these “eye-popping’’ donations have further benefits beyond the dollar amount. Universities can point to these mega-donations in their fundraising requests to other alumni, spurring them to donate more.
“That [big] donor can attract their peers to give to that university or whatever cause that person supported,’’ Di Mento said. “Once a big donor comes out … then others do follow.’’
However, there is one Harvard school whose name is not currently up for sale: Harvard Business School.
“For us, this is not in the cards,’’ Jim Aisner, HBS’s director of media and public relations said. “Harvard Business School is a brand that’s been around for quite some time.’’
Perhaps, but never say never. This could all just be a classic HBS negotiation technique.
Famous Harvard alumni
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