CELEBRATING - Nieman Foundation - Harvard University

D E V E L O P M E NT R E P O RT
Understanding the Endowment
Although the Nieman Foundation’s endowment comprises a
very small portion of Harvard University’s entire endowment,
it represents more than two dozen funds given by individual
donors and foundations since 1937. Each fund has its own
terms, determining exactly how income from the fund
maybe spent.
In most cases, Harvard is required to maintain the principal of
endowment gifts forever. Accordingly, a portion of the return is
given back to the fund each year to offset inflation. The actual
distribution is based on a rate that is approved annually by the
Harvard Corporation, generally between 4.5 and 5 percent of
the market value of the endowment.
In FY08, the Nieman Foundation received $4.8 million in
endowment income. Total budgeted expenses were $5.9
million. The additional $1.1 million needed to fund
operations came from grants and gifts.
These grants and gifts are vital to the financial health of the
Nieman Foundation, allowing for the creation and management
of our world-class programs for Nieman Fellows and other
journalists around the globe. All donors who contribute to the
Nieman Foundation help sustain international fellowships,
the Nieman Journalism Lab, Nieman Reports, the Nieman
Program on Narrative Journalism, the Nieman Watchdog
Project and special journalism projects and conferences.
From left: A formal Nieman dinner; 2008 Nieman Fellows Holly Williams and Ran An; 2008 Nieman
Fellow Abdul Razzaq al-Saiedi, talks with Susan Chira, foreign editor of The New York Times, and
Curator Bob Giles
Planned Giving
Planned gifts to the Nieman Foundation not only support
our important work, they provide donors with a number of
desirable benefits:
■ Income for life or a term of years for you and/or
your beneficiaries
■ Expert management of your gift by the Harvard
Management Company
■ Income and capital gains tax savings
■ Savings on gift and estate taxes
Planned giving options include:
Charitable Remainder Trusts: A charitable remainder trust
established at Harvard provides payments to you or other named
beneficiaries for a lifetime or a term of years. At the end of the trust
term, the principal is transferred to the area of the university you have
chosen to support, namely the Nieman Foundation.
Gift Annuities: A Harvard charitable gift annuity provides a fixed
dollar amount annually for life in exchange for a gift. In the future,
Harvard will use the principal in accordance with the terms of your
donation. A portion of the income paid to you and your beneficiaries
may be tax-free or taxed at the more favorable capital gains tax rate,
depending on the asset used to fund the annuity.
Bequests: Bequests at Harvard can be made through gifts of cash,
securities, real estate, and tangible personal property. You may
make a bequest in your will by including a specific contribution to
the Nieman Foundation.
To learn more about the giving strategies that are best for you, contact the Harvard University Planned Giving Office at 800-446-1277
or pgo@harvard.edu. Please mention that your gift should be marked for use by the Nieman Foundation. For more information about how
to make a contribution, contact niemandevelopment@harvard.edu.
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