Harvard discloses pay for endowment officials - The Boston Globe

Harvard discloses pay for endowment officials - The Boston Globe

Harvard discloses pay for endowment officials

By Beth Healy

Globe Staff / May 18, 2010

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The chief of Harvard University’s endowment earned nearly $1 million for her first six months on the job in 2008, according to a tax filing made public Monday, as global markets plunged and dragged the fund down with them.

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Jane Mendillo joined Harvard on July 1, 2008, and oversaw a 22 percent dive in the endowment through October of that year. The fund’s value would tumble 27 percent, to $26 billion, by the end of her first full fiscal year on June 30, 2009.

In a trying period for the elite institution, Harvard’s president, Drew Gilpin Faust, earned $822,011 in total compensation in calendar 2008, up 6 percent from the prior year. Of that, $96,000 was for housing.

The highest-paid faculty member on the tax disclosure is professor William E. Fruhan of Harvard Business School, who took home nearly $1.2 million that