Endowment for Divestiture (Harvard University)
Endowment for Divestiture (Harvard University)
Location: Cambridge, Massachusetts, United States
Duration: April 1983 - about March 1994
The Endowment for Divestiture (E4D) was a fund formed in 1983 by a group of undergraduates at Harvard University as an alternative for seniors who traditionally gave a senior class gift and for alumni who wanted to give to Harvard but wanted to express their disapproval of Harvard’s investment in companies doing business in South Africa. Money...
The Endowment for Divestiture (E4D) was a fund formed in 1983 by a group of undergraduates at Harvard University as an alternative for seniors who traditionally gave a senior class gift and for alumni who wanted to give to Harvard but wanted to express their disapproval of Harvard’s investment in companies doing business in South Africa. Money donated to the fund went into an escrow account. The goal was to pressure Harvard to divest from such companies. The money would be held in the escrow account until Harvard sold its investments in companies doing business in South Africa or the United Nations rescinded its call for corporate divestment from South Africa, at which time the money would be released for Harvard scholarships. Originally E4D said if the conditions were not met by 2003 the money would be given to a Harvard related charity. In March 1994 E4D sent Harvard a check of $25,000 for the Harvard College Scholarship Fund with a promise of an additional modest check when E4D finalized its books as part of closing the organization down. (Source: David Goodman, a founder of E4D; E4D documents on this website; a letter to Richard B. Boardman, Executive Director of Development, Harvard University from the Endowment for Divestiture signed by Elisabeth Einaudi and Paul Holtzman dated March 10, 1994; and Endowment for Divestiture Launches Spring Campaign by Robert M Neer, The Harvard Crimson, April 18, 1984; Bok Sharply Criticizes Divestiture Endowment by Adam S. Cohen, The Harvard Crimson, June 9, 1983.)
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