MIT Endowment for Divestiture

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Duration: October 1986 - Unknown, existed in 1990
Location: Massachusetts, United States

The MIT Endowment for Divestiture was established in 1986 because the Massachusetts Institute for Technology (MIT) had not divested from companies doing business in South Africa. The MIT Endowment for Divestiture raised money from MIT alumni as an alternative to the official alumni fund. The MIT Endowment for Divestiture said at its launch the money it raised would be held in escrow until the MIT Corporation divests the $160 million it had invested in companies which have dealings in South Africa and if the University does not divest by 1994, the Endowment will donate its funds to Amnesty International and the United Negro College Fund. Until that time, the Endowment monies will be invested in the Calvert Fund, a money-market account with no investments in South Africa-related companies. (Source: Harvard Model Helps MIT Alumni Establish Endowment for Divestiture, The Harvard Crimson, October 16, 1986; and MIT professor a candidate for Harvard board by Karen Kaplan The Tech, February 23, 1990)