The Washington herald., 1921-07-05
HARVARD ALUMNI
ASKED TODONATE
MILLION PER YEAP
Endowment Campaign
Ends and Subscription
Plan Begun.

NEW YORK. July "A Harvard
fund of $1,000 900 to be given eac''
year by from 1000 - ~ -" -'-----
of that university Is planned by tho
Harvard Alumni Association and
the Associated Harvard Clubs. ac-
cording to an announcement made
here today by John W. Prentiss, re-
Gently president of the Associated
Harvard Clubs and a member of tho
Harvard class Of 1885.
Col Prentiss . Ueen clGste'
chairman Of a committee of the Har'
ward Alumni Association known a
the committe on organization of tn"
Harvard fund and has working WITH
Rim Albert T. Perkins. of St Louis
and wellington Wells, of Boston
Fund Grows Fast.
The Harvard endowment fund
begun in the fall OF 1919. has been
terminated with total Of s13,soo,-
zoe. according to the announcement
OF Col Prcntiss: but this amount Is
about 1880 900 short of the s15,z5o.-
aEp As the minimum estimate OF
Harvards immediate needs
The plan now to be pursued by
Harvard men for the financial sup
port Of their alma mater was unani-
m0uSfy Adopted Al the twenty-third
annual meeting Of the Associated
Harvard Clubs al Milwaukee. June
IN II cOutemplztes the raising ulti-
unzte1y of s1-0Oe.0o0 gift each year
to be given to the university as the
mobile fund- which President
Lowell asked for at the time Of the
recent endowment fund campaign
The fund VIII be entirely unrestrict-
ed and may be used kt the discretion
OF the university either as principal
or interest.
Source OF Tnrone
THE larger part Of the Harvard
Endowment Fund" says the state
rrsnt of Col Prentiss, has been
kent as a source of income to pro
vftfB the so per cent increases
granted To the faculty. This alone
required S12.OOO.oOO. and there was
left but N.SOO.OOO to take care Of
the other needs of the university.
Most important of those immediate
requirements is a mobile fund that
shall be kept unpIedged TO meet
opportunities which arise for spe-
ctal work or the obtaining Of ex-
of salaries for instructors for phys
fcal education, salaries for teachers
of the dental school, and funds for
necessary additions to the staff Of
the department of chemistry and
for the construction of new chem
ical laboratories was also included
in the budget of the endowment
fund. and for some of these things
that fund will certainly not pro-
vide.
More Subscribers ASKED.
TO the endowment fund there
were $1,000 alumni subscribers. and
our hope is that we shall now BE-
able to secure 10000 Harvard men
who will contribute annually to the
university an average of $50 each
At Yale, where the same sort ot
plan has been in operation fol
thirty years, s64O.O00 was contrib
-uted in 1870 by less than 5000 men
This is an average Of $50 a year
per man
Former students of Harvard viii
mot be asked to pledge themselves
TO give a certain amount as they
did in the recent campaign: thers
will be no hard and fast commit
rFsnts. The plan is based upon tbs
loyalty of Harvard men; and tbs
appeal for support is based upor
actual deficits of the university
Last year there was a deficit oi
$3.50, 900, and this year revenue will
fail to meet expenditures by about
$500 .0OO It is a condition such a:
this that has brought a decision fa~
vuring a perpetual fund movement.
In addition to Col Prentiss':
alumni committee considering the
plan, a committee of three mem
beers Of the Associated Harvard
Clubs Is soon to be appointed By
the new president, e. M. Crossna n
of st. Louis, to cooperate in thu
work A permanent committee o
fffteen will be selected to carry OF
the work of the new Harvard Fund