World

Harvard sets up $100 million endowment fund for slavery reparations

2022.04.26 18:21

Harvard sets up $100 million endowment fund for slavery reparations
FILE PHOTO: Students and pedestrians walk through the Yard at Harvard University in Cambridge, Massachusetts, U.S., March 10, 2020. REUTERS/Brian Snyder/File Photo

By Michela Moscufo

(Reuters) – Harvard University is setting aside $100 million for an endowment fund and other measures to close the educational, social and economic gaps that are legacies of slavery and racism, according to an email the university’s president sent to all students, faculty and staff on Tuesday.

The email from Harvard President Lawrence Bacow included a link to a 100-page report by his university’s 14-member Committee on Harvard and the Legacy of Slavery. The panel was chaired by Tomiko Brown-Nagin, a legal historian and constitutional law expert who is dean of Harvard’s interdisciplinary Radcliffe Institute for Advanced Study. The email and the report were released to Reuters.

The move comes amid a wider conversation about redressing the impacts of centuries of slavery, discrimination and racism. Some people have called for financial or other reparations.

The report laid out a history of slaves toiling on the campus and of the university benefiting from the slave trade and industries linked to slavery after slavery was outlawed in Massachusetts in 1783 – 147 years after Harvard’s founding. The report also documents Harvard excluding Black students and its scholars advocating racism.

While Harvard had notable figures among abolitionists and in the civil rights movement, the report said, “the nation’s oldest institution of higher education … helped to perpetuate the era’s racial oppression and exploitation.”

The report’s authors recommended offering descendants of people enslaved at Harvard educational and other support so they “can recover their histories, tell their stories, and pursue empowering knowledge.”

Other recommendations included that the Ivy League school fund summer programs to bring students and faculty from long underfunded historically Black colleges and universities to Harvard, and to send Harvard students and faculty to the institutions known as HBCUs, such as Howard University.

In his email, Harvard President Bacow said a committee would explore transforming the recommendations into action and that a university governing board had authorized $100 million for implementation, with some of the funds held in an endowment.

“Slavery and its legacy have been a part of American life for more than 400 years,” Bacow wrote. “The work of further redressing its persistent effects will require our sustained and ambitious efforts for years to come.”

Other U.S. institutions of higher learning have created funds in recent years to address legacies of slavery. A law enacted in Virginia last year requires five public state universities to create scholarships for descendants of people enslaved by the institutions.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 84,456.63 3.00%
ethereum
Ethereum (ETH) $ 2,154.07 0.37%
tether
Tether (USDT) $ 0.999806 0.03%
xrp
XRP (XRP) $ 2.14 1.56%
bnb
BNB (BNB) $ 598.97 2.73%
solana
Solana (SOL) $ 139.92 3.48%
usd-coin
USDC (USDC) $ 1.00 0.00%
dogecoin
Dogecoin (DOGE) $ 0.200721 4.25%
cardano
Cardano (ADA) $ 0.630756 1.98%
staked-ether
Lido Staked Ether (STETH) $ 2,154.09 0.49%
tron
TRON (TRX) $ 0.231485 2.00%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 84,388.61 3.18%
hedera-hashgraph
Hedera (HBAR) $ 0.230083 15.37%
litecoin
Litecoin (LTC) $ 124.78 0.59%
stellar
Stellar (XLM) $ 0.298274 8.78%
chainlink
Chainlink (LINK) $ 14.33 0.55%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,571.61 0.24%
leo-token
LEO Token (LEO) $ 9.74 5.12%
sui
Sui (SUI) $ 2.80 2.75%
avalanche-2
Avalanche (AVAX) $ 21.24 0.52%
the-open-network
Toncoin (TON) $ 3.24 2.16%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 0.96%
usds
USDS (USDS) $ 1.00 0.03%
mantra-dao
MANTRA (OM) $ 7.47 2.13%
polkadot
Polkadot (DOT) $ 4.56 2.10%
hyperliquid
Hyperliquid (HYPE) $ 19.18 2.84%
weth
WETH (WETH) $ 2,154.13 0.10%
bitcoin-cash
Bitcoin Cash (BCH) $ 308.37 4.70%
ethena-usde
Ethena USDe (USDE) $ 0.998881 0.02%
bitget-token
Bitget Token (BGB) $ 3.98 1.91%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,284.67 0.08%
uniswap
Uniswap (UNI) $ 7.27 0.30%
monero
Monero (XMR) $ 217.12 2.23%
whitebit
WhiteBIT Coin (WBT) $ 26.39 1.54%
aptos
Aptos (APT) $ 6.38 5.44%
near
NEAR Protocol (NEAR) $ 3.09 4.75%
dai
Dai (DAI) $ 1.00 0.00%
ondo-finance
Ondo (ONDO) $ 0.991172 3.31%
pepe
Pepe (PEPE) $ 0.000007 3.95%
internet-computer
Internet Computer (ICP) $ 6.34 0.46%
susds
sUSDS (SUSDS) $ 1.04 0.08%
ethereum-classic
Ethereum Classic (ETC) $ 18.91 1.04%
aave
Aave (AAVE) $ 185.29 0.22%
okb
OKB (OKB) $ 44.87 2.77%
bittensor
Bittensor (TAO) $ 319.32 1.00%
official-trump
Official Trump (TRUMP) $ 13.12 7.99%
gatechain-token
Gate (GT) $ 20.07 1.43%
mantle
Mantle (MNT) $ 0.734171 3.02%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 84,501.64 3.24%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.268012 1.26%