Summarized financial information for the year ended June 30, 2018
The University’s operating surplus for the year was $196 million or 4% of revenue, higher than last year’s operating surplus of $114 million, or 2% of revenue. The balance sheet was strengthened this past year as net assets increased by $2.9 billion, or 7%, to $47.0 billion. The increase in net assets was driven by investment returns on the endowment, generous campaign contributions, and a disciplined focus on expenses. Moody's and Standard & Poor's both reconfirmed Harvard's AAA rating this past year
Operating Revenue Total operating revenue increased 4% rising to $5.2 billion. The largest drivers were growth in executive and continuing education, non-federal sponsored support revenues, the annual endowment distribution and current use giving.
Sources of Operating Revenue for Fiscal 2018 Endowment income made available for operations 35% Student income 21% Sponsored support 18% Gifts for current use 9% Other 17%
Operating Expenses Total operating expenses increased by 3% to $5.0 billion. Compensation expense (i.e. salaries, wages and benefits), which represents approximately half of the University's total operating expense, increased 2%, exceeding $2.5 billion.
Operating Expenses for Fiscal 2018 Employee salaries, wages, and benefits 50% Operating expenses (space and occupancy, services purchased, supplies and equipment, other expenses) 36% Depreciation and interest 11% Scholarships and other student awards 3%
Harvard's Endowment Harvard’s endowment is a dedicated and permanent source of funding that maintains the teaching and research mission of the University. Made up of more than 13,000 individual funds invested as a single entity, the endowment’s returns have enabled leading financial aid programs, groundbreaking discoveries in scientific research, and hundreds of professorships across a wide range of academic fields.
Distributions from Harvard’s endowment provide a critical source of funding for the University. The endowment distributed $1.8 billion in the fiscal year 2018.
Roughly 80% of the funds that make up Harvard’s endowment are restricted to specific programs, departments, or purposes (dedicated scholarships, named professorships, etc.), and must be spent in accordance with terms set forth by the donor. Payout from these funds can only be spent in support of the fund’s designated purpose.
Unrestricted funds, which account for roughly 20% of Harvard’s endowment, are more flexible in nature and are critical in supporting structural operating expenses and transformative, strategic initiatives.
solite3: Tithing did not originate from the priesthood if aaron but from that of melchizedek priest of the most high God. Abraham by faith paid tithe to the priest melchizedek as a recognition that God is the source of all that he owned.
Those who tithe do the same, following Abraham's foot step.
dermmy: You said JESUS wasn't against tithing, then why didnt he collect tithe? was JESUS not a priest too? Infact his own priesthood is far better than that of the Levitical priesthood so why didnt he preach and collect tithe for himself during his earthly ministry? JESUS had followers that he could preach the tithing doctrine to so why didn't he preach it to them. One of His mission was to raise Apostles that would continue the good news after HIS ressurection so why didn't he inculcate the tithing doctrine into the Apostles during his earthly ministry, because JESUS did his best to groom them for the task ahead, why didn't he tell them categorically to continue the old mosaic doctrine of tithing that he himself as a better eternal priest did not collect?
The Apostles never received tithe and they never laid any curse on anyone who didn't pay it. The church of GOD needs money to do charitable deeds, to function effectively in the areas of evangelism and the rest, that is where giving comes in and giving is different from tithing my brother.
And the church must be transparent in this area all the giving done under the new testament church were used to provide relief materials to other members of christ in other lands. None of the money entered the Apostles account, the apostles didn't appropriate the money to themselves. The church was accountable and none of the Apostles placed a curse on any body who did not give the way modern day pastors scare their members by saying the devourer would attack your finances, your health and business if you don't tithe.
There are buddhist billionaires in Japan who are richer than Oyedepo and his likes why is the devourer not devouring their finances, health and businesses. There are billionaires around the world who don't know GOD, not to talk of the road to church so why is the devourer not devouring their businesses. If the devourer has devoured their businesses Oyedepo won't be using private jet today, he won't be using all those big cars because these automobiles and jets were built by the companies of these Billionaires who don't know GOD let alone paying tithes.
Is tithing not a way of bringing back the old mosaic law? The church should state categorically that it needs money to continue running which i agree, every organization needs finance to succeed but bringing back the old law of tithing under the old testament, cursing and scaring people that they would incur GOD'S wrath if they don't pay is fraud.
You didnt answer all the questions i asked in my first mention all is well. Jesus and his Apostles never scared anyone into giving his money hear what Oyedepo said in that video you shared, i wonder how GOD would feel that day. May GOD save his church.
Job's health and wealth was attacked because he never tithed...
1) Did God restore Job because he later tithed? 2) Bishop has been paying tithes for donkey years. Why didn't the tithe prevent Faith Oyedepo from falling sick at a point in her life?
Connect the dots and see the errors. Unless you are a pastor worshiper suffering from selective amnesia.
You sound like the other one now.
What he stated are based on not reading anywhere that Job tithed. You could show us one.
1. Four Universities ranked in Nigeria. 2. Covenant University is the highest rank institution in the Country at 401-500 3. The University of Ibadan now second at 501-600 4. The Rest....
The way this has been done, CU could be just a place above UI. Imagine if CU is number 500 and UI is 501. Congrats to them still. What happened to heavily funded Uniben, ABU and co? Na only cultism and fanaticism them sabi?
OkCornel: You assume wrongly that I am a strong believer and follower of Late Kenneth Hagin.
That means absolutely anything Hagin preaches, I ought to swallow it hook, line and sinker. It doesn't work that way.
Let's take a look at Benny Hinn's recent confession as an example... that's a clear pointer to show you no Preacher is above errors. Does it also mean Benny Hinn never preached the truth in his ministry? No.
The worst form of deception is having Truth mixed with lies and errors. That is why followers of Oyedepo will see nothing wrong in the picture below.
Identify with the truth and do away with errors.
The issue of tithes has been over flogged, and Hagin is in support of monetary tithing as one of the secrets to prosperity...too bad.
Freewill, Spirit led giving has always been the standard in the new covenant. I am not aware of any believer in the early church practicing tithes for the sake of prosperity...or are you aware of any?
Benny Hinn's confession has been twisted out of context by your likes and I am not surprised you are happy to keep derailing this thread with that twisted Benny Hinn confession of yours. The man simply said he wont be following or practicing the naming of offering amount like for example coming out to say a "$1000 offering to clear all your debts supernaturally". That is what I understood and not the idea of labeling it "prosperity gospel" ambiguously in order to criticize peple blindly. From God's word in Deut 28, Zach 1:17 and the likes we know God is a God of material blessing and I wonder the subtle foundation you re laying with these twisting of facts.
You outrightly lied the ex-satanist Stephen Dollins never called names of Demons and their operations in his video. You were busted for that lie.
Now take a look at these two screenshots below and see you contradicting yourself.
Screenshot 1: You encouraging the OP to expose Satan and his works
Screenshot 2: Same you saying something opposite, and on top of that...lying on Stephen Dollins.
Why the lies Anas09? Why?
When you guys were arguing and posting long repetitive stuff, I knew what you were up to then. Why not start a new thread for all these derailing talks and let folks who have things to say about spiritual angle to cultism post here? why?
simonlee: You have been proscribed as terrorists but you still went ahead to hold procession despite several warnings. i don't blame the police for any life lost here!
One simple question. Why haven't law enforcement agents clashed with the other Islamic sect who block roads on a weekly basis after they clashed with Shi'ite?
showafrica: It's never God's wish for humans to leave the earth soon. Man actually brought death upon himself according to the Bible but I am surprised how the Bible could be linked up to any situation.
OLAADEGBU: Benny Hinn Takes A Swipe At Nigerian Prosperity Preachers, Describes Act As A Trick In Nigeria, where prosperity preaching is popular with many Christian leaders, Hinn's latest position would come as a terrible blow and in fact a bruising swipe at their 'money for blessing' scheme. BY SAHARA REPORTERS, NEW YORK SEP 08, 2019
Israeli televangelist, Benny Hinn, has said that he is quitting prosperity preaching because the Holy Spirit was fed up with it.
The 66-year-old, who made the announcement during a Facebook live programme earlier in the week, pointed that such preaching was a gimmick adopted by Christian religious leaders to squeeze money out from members of their congregation.
In Nigeria, where prosperity preaching is popular with many Christian leaders, Hinn's latest position would come as a terrible blow and in fact a bruising swipe at their 'money for blessing' scheme.
Hinn said, "I'm sorry to say that prosperity has gone a little crazy and I'm correcting my own theology and you need to all know it.
"Because when I read the Bible now, I don't see the Bible with the same eyes I saw it 20 years ago."
"I think it's an offense to the Lord, it's an offense to say give $1,000. I think it's an offense to the Holy Spirit to place a price on the Gospel. I'm done with it.
"I will never again ask you to give $1,000 or whatever amount, because I think the Holy Ghost is just fed up with it."
“I think it hurts the Gospel. When they invite me to telethons, I think they will not like me anymore.
"If I hear one more time, break the back of debt with $1,000, I'm gonna rebuke them. I think that's buying the Gospel. That's buying the blessing. That's grieving the Holy Spirit."
"If you are not giving because you love Jesus, don't bother giving. I think giving has become such a gimmick; it's making me sick to my stomach."
I expect folks to be wiser than confusing the correction of a doctrine or practice of putting a price on things of the spirit with "prosperity gospel". Zach 1:17 is in support of prosperity and I wonder how does Benny hinn's post relate to " prosperity gospel".
What does it mean to be called by God? Many just imagine themselves being equal to others by reason of the physical. God can confirm the wise thing in seemingly foólish ways and I wonder why everybody has to claim being called.
dermmy: Hello CodeTemplar. There are Bhuddist Billionaires in Japan who are richer than Oyedepo and other men of GOD in Nigeria these people don't tithe or sow seed they don't even know any one called JESUS christ pls can you tell me how these people keep getting richer. They are even employing those who go to church and pay tithe.
China has the highest population of Billionaires in the world and these people are not christians yet they are getting blessed but here in Africa an average African christian tithe, sow seed yet he is still struggling to buy a motorcycle. Please can you explain?
Nigerian Pastors would scare the hell out of their members when it comes to tithing by saying the destroyer would destroy their finances, health and the rest if they don't tithe. yet the Japanese Bhuddists, Chinese and American billionaires who don't tithe live longer than Nigerians, it's evident in our life expectancy.
Can't you see that those who control the wealth of this world are people who don't even know the true living GOD let alone tithing or seed sowing. They own big companies that produce cars, jets that our Pastors are using to flaunt their riches. Those preaching the tithe and seed sowing Gospel are the ones getting richer while their listeners don't own a jet or private university. The prosperity Gospel is a fraud.
You can still educate a christian brother.
Until you follow them into their closet and know what they do for wealth stop talking what you don't know. The question should be, why aren't you as rich as those nonbelievers ?
jesusjnr: So says the intellectually rich, and spiritually bankrupt!
That's what has gone wrong with the church, for back then it was intellectually bankrupt, but spiritually rich!
Luke 10:21 (KJV)
21 In that hour Jesus rejoiced in spirit, and said, I thank thee, O Father, Lord of heaven and earth, that thou hast hid these things from the wise and prudent, and hast revealed them unto babes: even so, Father; for so it seemed good in thy sight.
Since you obviously cant challenge my knockout of your weak propaganda about benny hinn correcting his doctrines about tithes and sowing in faith, let me address another false doctrine you have been propagating on this platform.
It is that of twisting Papa's words where he said he "didn't see anywhere where Job tithe" into something else and spamming Nairaland with it in that video clip you are always attaching to your posts.
You have skillfully twisted it into something else and have been going about this board spamming threads with it. Be warned, some of us aren't fooled for a second with such.
Anybody who thinks I am lying can check between 0:00 and 0:25 sec of that video clip to confirm. u could use clipconverter.cc to save Data/MB