TY 2014 Form 990

(A) Name and Title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)	(E) Reportable compensation from related organizations (W- 2/1099-MISC)
(1) DREW GILPIN FAUST PRESIDENT	60.00 .......................2.00	X	X	816,370	386,610
(2) PAUL J FINNEGAN TREASURER	5.00 .......................2.00	X	X	0	0
(3) LAWRENCE S BACOW FELLOW; SENIOR FELLOW AT HKS	10.00 .......................1.00	X		24,064	2,553
(4) JAMES W BREYER FELLOW	5.00 .......................1.00	X		0	0
(5) KENNETH I CHENAULT FELLOW (BEGAN 07/2014)	5.00 .......................1.00	X		0	0
(6) KAREN GORDON MILLS FELLOW (BEGAN 07/2014); SENIOR FELLOW AT HBS	45.00 .......................1.00	X		139,230	18,945
(7) SUSAN L GRAHAM FELLOW	5.00 .......................1.00	X		0	0
(8) NANNERL O KEOHANE FELLOW	5.00 .......................1.00	X		0	0
(9) WILLIAM F LEE FELLOW	5.00 .......................1.00	X		0	0
(10) JESSICA T MATHEWS FELLOW	5.00 .......................1.00	X		0	0
(11) JOSEPH J O'DONNELL FELLOW	5.00 .......................3.00	X		0	0
(12) JAMES F ROTHENBERG FELLOW	5.00 .......................2.00	X		0	0
(13) THEODORE V WELLS JR FELLOW	5.00 .......................1.00	X		0	0
(14) PAUL ANDREW V.P. PUBLIC AFFAIRS AND COMM. (BEGAN 03/2015)	60.00 .......................0		X	274,952	40,697
(15) ALAN M GARBER PROVOST	60.00 .......................3.50		X	646,437	186,730
(16) MARC L GOODHEART V.P. AND SECRETARY OF THE UNIVERSITY	60.00 .......................1.00		X	339,828	55,236
(17) MARILYN M HAUSAMMANN V.P. FOR HUMAN RESOURCES	60.00 .......................0		X	370,982	55,327

(A) Name and Title	(B) Average hours per week (list any hours for related organizations below dotted line)	(E) Reportable compensation from related organizations (W- 2/1099-MISC)	(F) Estimated amount of other compensation from the organization and related organizations
(18) CHRISTINE M HEENAN V.P. PUBLIC AFFAIRS AND COMM. (UNTIL 02/2015)	60.00 .......................0	X				369,407	56,460
(19) THOMAS J HOLLISTER V.P. FOR FINANCE AND C.F.O. (BEGAN 05/2015)	60.00 .......................2.00	X				0	0
(20) ROBERT W IULIANO SENIOR V.P. AND GENERAL COUNSEL	60.00 .......................0	X				515,628	56,806
(21) MARK R JOHNSON V.P. FOR CAPITAL PLANNING AND PROJECT MANAGEMENT	60.00 .......................0	X				289,174	42,076
(22) KATHERINE N LAPP EXECUTIVE VICE PRESIDENT	60.00 .......................4.00	X				630,414	41,375
(23) ANNE H MARGULIES V.P. AND CHIEF INFORMATION OFFICER	60.00 .......................1.00	X				374,226	54,113
(24) TAMARA ELLIOTT ROGERS V.P. FOR ALUMNI AFFAIRS AND DEVELOPMENT	60.00 .......................0	X				406,205	53,290
(25) LEAH ROSOVSKY V.P. FOR STRATEGY AND PROGRAMS	60.00 .......................0	X				333,417	40,875
(26) DANIEL S SHORE V.P. FOR FINANCE AND C.F.O. (UNTIL 09/2014)	60.00 .......................2.00	X				354,616	49,414
(27) SARAH E THOMAS V.P. FOR THE HARVARD LIBRARY	60.00 .......................0	X				362,082	41,670
(28) MEREDITH WEENICK V.P. FOR CAMPUS SERVICES (BEGAN 07/2014)	60.00 .......................2.00	X				154,555	22,685
(29) JEFFREY S FLIER DEAN, FACULTY OF MEDICINE	60.00 .......................4.25		X			601,688	53,676
(30) NITIN NOHRIA DEAN, FACULTY OF BUSINESS	60.00 .......................0		X			570,081	157,284
(31) MICHAEL D SMITH DEAN, FACULTY OF ARTS & SCIENCES	60.00 .......................1.00		X			551,901	131,494
(32) JOHN AUBRECHT EXEC. DIR. OF LMEC, INC.	60.00 .......................0			X		625,189	56,019
(33) JULIO FRENK DEAN, FACULTY OF PUBLIC HEALTH	60.00 .......................0			X		582,441	56,326
(34) PAUL M HEALY FACULTY	60.00 .......................2.00			X		551,780	54,838
(35) SCOTT G KENNEDY FACULTY	60.00 .......................0			X		630,062	16,218
(36) VILANGADU NARAYANAN FACULTY	60.00 .......................0			X		581,595	57,345
(37) STEVEN E HYMAN FACULTY; FORMER PROVOST	60.00 .......................0				X	418,537	38,040

(A) Name and business address	(B) Description of services	(C) Compensation
TURNER CONSTRUCTION CO TWO SEAPORT LN BOSTON,MA02210	CONTRACTOR	50,869,490
LEE KENNEDY CO INC 122 QUINCY SHORE DR QUINCY,MA02171	CONTRACTOR	41,717,679
BRIGHAM AND WOMEN'S HOSPITAL 75 FRANCIS ST BOSTON,MA02115	RESEARCH SUBCONTRACTOR	40,736,602
DIMEO CONSTRUCTION CO 7 DRYDOCK AVE BOSTON,MA02210	CONTRACTOR	40,246,286
DTZ INC 101 FEDERAL ST SUITE 700 BOSTON,MA02110	CLEANING SERVICES	37,663,242
2 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 1,300

Do not include amounts reported on lines 6b, 7b, 8b, 9b, and 10b of Part VIII.	(A) Total expenses	(B) Program service expenses	(C) Management and general expenses	(D) Fundraising expenses
1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....	120,970,267	120,970,267
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ....	520,162,977	520,162,977
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16 ............	23,110,694	23,110,694
4	Benefits paid to or for members ....	0	0
5	Compensation of current officers, directors, trustees, and key employees ....	10,129,841	724,505	8,246,247	1,159,089
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ....	1,049,865	899,456	127,580	22,829
7	Other salaries and wages ....	1,601,862,668	1,425,844,023	106,842,125	69,176,520
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	128,869,105	114,708,487	8,595,399	5,565,219
9	Other employee benefits .......	239,720,934	213,379,503	15,989,070	10,352,361
10	Payroll taxes ...........	102,320,522	91,077,161	6,824,644	4,418,717
11	Fees for services (non-employees):
a	Management ......	32,917,124	30,554,267	2,052,624	310,233
b	Legal .........	14,882,045	1,628,373	12,791,745	461,927
c	Accounting ...........	2,608,359	467,501	2,137,137	3,721
d	Lobbying ...........	516,329	516,329
e	Professional fundraising services. See Part IV, line 17	1,220,765			1,220,765
f	Investment management fees ......	210,640,651		210,640,651
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) ....	297,346,279	260,212,635	29,217,095	7,916,549
12	Advertising and promotion ....	17,925,609	16,356,268	484,557	1,084,784
13	Office expenses .......	197,122,592	185,413,129	6,107,350	5,602,113
14	Information technology ......	101,111,656	86,883,939	10,847,133	3,380,584
15	Royalties ..	4,152,332	4,121,030	1,105	30,197
16	Occupancy ...........	275,462,222	237,332,888	25,553,485	12,575,849
17	Travel ............	83,367,688	76,428,425	1,632,713	5,306,550
18	Payments of travel or entertainment expenses for any federal, state, or local public officials ......
19	Conferences, conventions, and meetings ....	57,679,655	47,416,571	3,699,245	6,563,839
20	Interest ...........	248,434,170	217,963,561	20,124,629	10,345,980
21	Payments to affiliates .......
22	Depreciation, depletion, and amortization .....	299,074,556	268,286,417	17,399,205	13,388,934
23	Insurance ..............	14,910,159	9,197,285	5,708,465	4,409
24	Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a	PAYMENTS TO ANNUITANTS	62,860,545	62,860,545
b	BOOKS/PUBLICATIONS	42,943,740	42,406,127	314,676	222,937
c	PUBLISHING	22,456,029	17,559,739	1,210,720	3,685,570
d	TAXES AND FEES	19,740,512	17,482,437	1,461,267	796,808
e	All other expenses	19,888,864	11,935,759	4,169,323	3,783,782
25	Total functional expenses. Add lines 1 through 24e	4,775,458,754	4,105,900,298	502,178,190	167,380,266
26	Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).

Part X Balance Sheet Check if Schedule O contains a response or note to any line in this Part X ..............
	1	Cash–non-interest-bearing .............	33,985,000	1	28,817,000
2	Savings and temporary cash investments .........	10,061,000	2	20,091,000
3	Pledges and grants receivable, net ...........	1,589,999,000	3	2,244,777,000
4	Accounts receivable, net .............	102,527,000	4	110,293,000
5	Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of Schedule L ..................
		2,015,000	5	2,354,000
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L
		0	6	0
7	Notes and loans receivable, net .............	373,763,000	7	374,832,000
8	Inventories for sale or use ..............	7,482,000	8	5,987,000
9	Prepaid expenses and deferred charges ..........	133,251,000	9	135,781,000
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	9,941,629,000
b	Less: accumulated depreciation .....	10b	4,047,269,000	5,698,732,000	10c	5,894,360,000
11	Investments—publicly traded securities ..........	30,597,496,000	11	34,479,935,000
12	Investments—other securities. See Part IV, line 11 .....	18,993,598,000	12	19,881,327,000
13	Investments—program-related. See Part IV, line 11 .....	0	13
14	Intangible assets ...............		14
15	Other assets. See Part IV, line 11 ...........	10,569,404,000	15	10,339,688,000
16	Total assets. Add lines 1 through 15 (must equal line 34)......	68,112,313,000	16	73,518,242,000
	17	Accounts payable and accrued expenses .........	461,005,000	17	469,920,000
18	Grants payable .................		18
19	Deferred revenue ................	176,847,000	19	193,168,000
20	Tax-exempt bond liabilities .............	3,298,658,000	20	3,251,773,000
21	Escrow or custodial account liability. Complete Part IV of Schedule D..		21
22	Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
	persons. Complete Part II of Schedule L..........	0	22
23	Secured mortgages and notes payable to unrelated third parties ..		23
24	Unsecured notes and loans payable to unrelated third parties ....	2,320,532,000	24	2,311,306,000
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D....................	19,643,973,000	25	23,508,009,000
26	Total liabilities. Add lines 17 through 25.........	25,901,015,000	26	29,734,176,000
		Organizations that follow SFAS 117 (ASC 958), check here and complete lines 27 through 29, and lines 33 and 34.
27	Unrestricted net assets ..............	9,166,686,000	27	9,631,923,000
28	Temporarily restricted net assets ...........	25,850,724,000	28	26,785,369,000
29	Permanently restricted net assets ...........	7,193,888,000	29	7,366,774,000
	Organizations that do not follow SFAS 117 (ASC 958), check here and complete lines 30 through 34.
30	Capital stock or trust principal, or current funds ........		30
31	Paid-in or capital surplus, or land, building or equipment fund .....		31
32	Retained earnings, endowment, accumulated income, or other funds		32
33	Total net assets or fund balances ...........	42,211,298,000	33	43,784,066,000
34	Total liabilities and net assets/fund balances ........	68,112,313,000	34	73,518,242,000

- TIN:

SCHEDULE A
(Form 990 or 990EZ)

Department of the Treasury
Internal Revenue Service

Public Charity Status and Public Support

Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
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Attach to Form 990 or Form 990-EZ.
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Information about Schedule A (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public
Inspection

Name of the organization

President and Fellows of Harvard College

Employer identification number

04-2103580

Part I

Reason for Public Charity Status (All organizations must complete this part.) See instructions.

The organization is not a private foundation because it is: (For lines 1 through 11, check only one box.)

A church, convention of churches, or association of churches described in section 170(b)(1)(A)(i).

A school described in section 170(b)(1)(A)(ii). (Attach Schedule E.)

A hospital or a cooperative hospital service organization described in section 170(b)(1)(A)(iii).

A medical research organization operated in conjunction with a hospital described in section 170(b)(1)(A)(iii). Enter the hospital's name, city, and state:

An organization operated for the benefit of a college or university owned or operated by a governmental unit described in

section 170(b)(1)(A)(iv). (Complete Part II.)

A federal, state, or local government or governmental unit described in section 170(b)(1)(A)(v).

An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi). (Complete Part II.)

A community trust described in section 170(b)(1)(A)(vi). (Complete Part II.)

An organization that normally receives: (1) more than 331/3% of its support from contributions, membership fees, and gross

receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 331/3% of

its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses

acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)

An organization organized and operated exclusively to test for public safety. See section 509(a)(4).

An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2). See section 509(a)(3). Check the box in lines 11a through 11d that describes the type of supporting organization and complete lines 11e, 11f, and 11g.

Type I. A supporting organization operated, supervised, or controlled by its supported organization(s), typically by giving the supported organization(s) the power to regularly appoint or elect a majority of the directors or trustees of the supporting organization. You must complete Part IV, Sections A and B.

Type II. A supporting organization supervised or controlled in connection with its supported organization(s), by having control or management of the supporting organization vested in the same persons that control or manage the supported organization(s). You must complete Part IV, Sections A and C.

Type III functionally integrated. A supporting organization operated in connection with, and functionally integrated with, its supported organization(s) (see instructions). You must complete Part IV, Sections A, D, and E.

Type III non-functionally integrated. A supporting organization operated in connection with its supported organization(s) that is not functionally integrated. The organization generally must satisfy a distribution requirement and an attentiveness requirement (see instructions). You must complete Part IV, Sections A and D, and Part V.

Check this box if the organization received a written determination from the IRS that it is a Type I, Type II, Type III functionally integrated, or Type III non-functionally integrated supporting organization.

Enter the number of supported organizations .............................

Provide the following information about the supported organization(s).

(i)Name of supported organization	(ii) EIN	(iv) Is the organization listed in your governing document?		(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)
(i)Name of supported organization	(ii) EIN	Yes	No	(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)


Total

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990EZ.

Cat. No. 11285F

Schedule A (Form 990 or 990-EZ) 2014

Page 2

Part II

Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization fails to qualify under the tests listed below, please complete Part III.)

Section A. Public Support

Calendar year (or fiscal year beginning in)		(a) 2010	(b) 2011	(c) 2012	(d) 2013	(e) 2014	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") ....	1,388,387,596	1,543,769,248	1,856,072,877	2,174,337,778	2,242,963,264	9,205,530,763
2	Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.......
3	The value of services or facilities furnished by a governmental unit to the organization without charge..
4	Total. Add lines 1 through 3	1,388,387,596	1,543,769,248	1,856,072,877	2,174,337,778	2,242,963,264	9,205,530,763
5	The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f)..						265,129,751
6	Public support. Subtract line 5 from line 4.						8,940,401,012

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2010	(b) 2011	(c) 2012	(d) 2013	(e) 2014	(f) Total
7	Amounts from line 4..	1,388,387,596	1,543,769,248	1,856,072,877	2,174,337,778	2,242,963,264	9,205,530,763
8	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources...	462,553,594	416,906,214	420,190,320	592,263,720	577,719,961	2,469,633,809
9	Net income from unrelated business activities, whether or not the business is regularly carried on..	0	724,422	376,074	333,008	764,171	2,197,675
10	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.)..	104,754,394	108,541,204	111,799,641	107,250,537	117,269,449	549,615,225
11	Total support Add lines 7 through 10.						12,226,977,472

Gross receipts from related activities, etc. (see instructions) ..................

6,574,887,294

First five years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here........................................ right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2014 (line 6, column (f) divided by line 11, column (f)) .........

73.12 %

Public support percentage for 2013 Schedule A, Part II, line 14 ...............

74.12 %

16a

33 1/3% support test—2014. If the organization did not check the box on line 13, and line 14 is 33 1/3% or more, check this box
and stop here. The organization qualifies as a publicly supported organization ....................... right arrow

33 1/3% support test—2013. If the organization did not check a box on line 13 or 16a, and line 15 is 33 1/3% or more, check this
box and stop here. The organization qualifies as a publicly supported organization ..................... right arrow

17a

10%-facts-and-circumstances test—2014. If the organization did not check a box on line 13, 16a, or 16b, and line 14
is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain
in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported
organization ..................................................... right arrow

10%-facts-and-circumstances test—2013. If the organization did not check a box on line 13, 16a, 16b, or 17a, and line
15 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here.
Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly
supported organization ................................................ right arrow

Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow

Schedule A (Form 990 or 990-EZ) 2014

Page 3

Part III

Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 9 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)

Section A. Public Support

Calendar year (or fiscal year beginning in)		(a) 2010	(b) 2011	(c) 2012	(d) 2013	(e) 2014	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .
2	Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose......
3	Gross receipts from activities that are not an unrelated trade or business under section 513..
4	Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...
5	The value of services or facilities furnished by a governmental unit to the organization without charge..
6	Total. Add lines 1 through 5.
7a	Amounts included on lines 1, 2, and 3 received from disqualified persons...
b	Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.
c	Add lines 7a and 7b..
8	Public support (Subtract line 7c from line 6.)

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2010	(b) 2011	(c) 2012	(d) 2013	(e) 2014	(f) Total
9	Amounts from line 6...
10a	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..
b	Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.
c	Add lines 10a and 10b.
11	Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on.
12	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) ..
13	Total support. (Add lines 9, 10c, 11, and 12.)..

First five years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization,
check this box and stop here............................................. right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2014 (line 8, column (f) divided by line 13, column (f)) .........

Public support percentage from 2013 Schedule A, Part III, line 15 ...............

Section D. Computation of Investment Income Percentage

Investment income percentage for 2014 (line 10c, column (f) divided by line 13, column (f)) ......

Investment income percentage from 2013 Schedule A, Part III, line 17 .............

19a

33 1/3% support tests—2014. If the organization did not check the box on line 14, and line 15 is more than 33 1/3%, and line 17 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ....... right arrow

33 1/3% support tests—2013. If the organization did not check a box on line 14 or line 19a, and line 16 is more than 33 1/3% and line 18 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization .... right arrow

Private foundation. If the organization did not check a box on line 14, 19a, or 19b, check this box and see instructions .... right arrow

Schedule A (Form 990 or 990-EZ) 2014

Page 4

Part IV

Supporting Organizations

(Complete only if you checked a box on line 11 of Part I. If you checked 11a of Part I, complete Sections A and B. If you checked 11b of Part I, complete Sections A and C. If you checked 11c of Part I, complete Sections A, D, and E. If you checked 11d of Part I, complete Sections A and D, and complete Part V.)

Section A. All Supporting Organizations

Yes

Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.

Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).

Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer (b) and (c) below.

Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.

Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.

Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked 11a or 11b in Part I, answer (b) and (c) below.

Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations....

Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.

Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer (b) and (c) below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed, (ii) the reasons for each such action, (iii) the authority under the organization's organizing document authorizing such action, and (iv) how the action was accomplished (such as by amendment to the organizing document).

Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?

Substitutions only. Was the substitution the result of an event beyond the organization's control?

Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (a) its supported organizations; (b) individuals that are part of the charitable class benefited by one or more of its supported organizations; or (c) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.

Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in IRC 4958(c)(3)(C)), a family member of a substantial contributor, or a 35-percent controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990) .

Did the organization make a loan to a disqualified person (as defined in section 4958) not described in line 7? If “Yes,” complete Part II of Schedule L (Form 990).

Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.

Did one or more disqualified persons (as defined in line 9(a)) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.

Did a disqualified person (as defined in line 9(a)) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.

10a

Was the organization subject to the excess business holdings rules of IRC 4943 because of IRC 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer b below.

10a

Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).

10b

Has the organization accepted a gift or contribution from any of the following persons?

A person who directly or indirectly controls, either alone or together with persons described in (b) and (c) below, the governing body of a supported organization?

11a

A family member of a person described in (a) above?

11b

A 35% controlled entity of a person described in (a) or (b) above? If “Yes” to a, b, or c, provide detail in Part VI.

11c

Schedule A (Form 990 or 990-EZ) 2014

Page 5

Part IV

Supporting Organizations (continued)

Section B. Type I Supporting Organizations

Yes

Did the directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.

Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.

Section C. Type II Supporting Organizations

Yes

Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).

Section D. All Type III Supporting Organizations

Yes

Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (1) a written notice describing the type and amount of support provided during the prior tax year, (2) a copy of the Form 990 that was most recently filed as of the date of notification, and (3) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?

Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).

By reason of the relationship described in (2), did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.

Section E. Type III Functionally-Integrated Supporting Organizations

Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):

The organization satisfied the Activities Test. Complete line 2 below.

The organization is the parent of each of its supported organizations. Complete line 3 below.

The organization supported a governmental entity. Describe in Part VI how you supported a government entity (see instructions)

Activities Test. Answer (a) and (b) below.

Yes

Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.

Did the activities described in (a) constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.

Parent of Supported Organizations. Answer (a) and (b) below.

Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations? Provide details in Part VI.

Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI the role played by the organization in this regard.

Schedule A (Form 990 or 990-EZ) 2014

Page 6

Part V – Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations

1. Check here if the organization satisfied the Integral Part Test as a qualifying trust on Nov. 20, 1970. See instructions. All other Type III non-functionally integrated supporting organizations must complete Sections A through E.

	Section A - Adjusted Net Income		(A) Prior Year	(B) Current Year (optional)
1	Net short-term capital gain	1
2	Recoveries of prior-year distributions	2
3	Other gross income (see instructions)	3
4	Add lines 1 through 3	4
5	Depreciation and depletion	5
6	Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions)	6
7	Other expenses (see instructions)	7
8	Adjusted Net Income (subtract lines 5, 6 and 7 from line 4)	8

	Section B - Minimum Asset Amount		(A) Prior Year	(B) Current Year (optional)
1	Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year):	1
a	Average monthly value of securities	1a
b	Average monthly cash balances	1b
c	Fair market value of other non-exempt-use assets	1c
d	Total (add lines 1a, 1b, and 1c)	1d
e	Discount claimed for blockage or other factors (explain in detail in Part VI):
2	Acquisition indebtedness applicable to non-exempt use assets	2
3	Subtract line 2 from line 1d	3
4	Cash deemed held for exempt use. Enter 1-1/2% of line 3 (for greater amount, see instructions).	4
5	Net value of non-exempt-use assets (subtract line 4 from line 3)	5
6	Multiply line 5 by .035	6
7	Recoveries of prior-year distributions	7
8	Minimum Asset Amount (add line 7 to line 6)	8

	Section C - Distributable Amount		Current Year
1	Adjusted net income for prior year (from Section A, line 8, Column A)	1
2	Enter 85% of line 1	2
3	Minimum asset amount for prior year (from Section B, line 8, Column A)	3
4	Enter greater of line 2 or line 3	4
5	Income tax imposed in prior year	5
6	Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions)	6
7	Check here if the current year is the organization's first as a non-functionally-integrated Type III supporting organization (see instructions)

Schedule A (Form 990 or 990-EZ) 2014

Page 7

Section D - Distributions		Current Year
1 Amounts paid to supported organizations to accomplish exempt purposes
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity
3 Administrative expenses paid to accomplish exempt purposes of supported organizations
4 Amounts paid to acquire exempt-use assets
5 Qualified set-aside amounts (prior IRS approval required)
6 Other distributions (describe in Part VI). See instructions
7Total annual distributions. Add lines 1 through 6.
8 Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions
9 Distributable amount for 2014 from Section C, line 6
10 Line 8 amount divided by Line 9 amount

Section E - Distribution Allocations (see instructions)		(i) Excess Distributions	(ii) Underdistributions Pre-2014	(iii) Distributable Amount for 2014
1 Distributable amount for 2014 from Section C, line 6
2 Underdistributions, if any, for years prior to 2014 (reasonable cause required--see instructions)
3 Excess distributions carryover, if any, to 2014:
a From 2009.......X
b From 2010.......X
c From 2011.......X
d From 2012.......X
e From 2013.......
fTotal of lines 3a through e
g Applied to underdistributions of prior years
h Applied to 2014 distributable amount
i Carryover from 2009 not applied (see instructions)
j Remainder. Subtract lines 3g, 3h, and 3i from 3f.
4Distributions for 2014 from Section D, line 7:
$
a Applied to underdistributions of prior years
b Applied to 2014 distributable amount
c Remainder. Subtract lines 4a and 4b from 4.
5 Remaining underdistributions for years prior to 2014, if any. Subtract lines 3g and 4a from line 2 (if amount greater than zero, see instructions)
6 Remaining underdistributions for 2014. Subtract lines 3h and 4b from line 1 (if amount greater than zero, see instructions)
7 Excess distributions carryover to 2015. Add lines 3j and 4c.
8 Breakdown of line 7:
a From 2010.......X
b From 2011.......X
c From 2012.......X
d From 2013.......
e From 2014.......

Schedule A (Form 990 or 990-EZ) (2014)

Schedule A (Form 990 or 990-EZ) 2014

Page 8

Part VI

Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).

Facts And Circumstances Test

Return Reference	Explanation
Schedule A, Part II, Line 16a PUBLIC SUPPORT	PRESIDENT AND FELLOWS OF HARVARD COLLEGE MEETS THE 33 1/3% PUBLIC SUPPORT TEST.
Schedule A, Part II, Line 10 Other Income	DESCRIPTION - PROGRAM SERVICE REVENUE EXCLUDED FROM TAX UNDER SECTIONS 512-514, COLUMN A - XXX-XX-XXXX.0, COLUMN B - XXX-XX-XXXX.0, COLUMN C - XXX-XX-XXXX.0, COLUMN D - XXX-XX-XXXX.0, COLUMN E - XXX-XX-XXXX.0, COLUMN F - XXX-XX-XXXX.0; DESCRIPTION - NET INCOME OR (LOSS) FROM FUNDRAISING EVENTS, COLUMN A - -49222.0, COLUMN B - -49666.0, COLUMN C - -36619.0, COLUMN D - -520518.0, COLUMN E - 0.0, COLUMN F - -656025.0;

Return Reference

Explanation

Schedule A, Part II, Line 16a PUBLIC SUPPORT

PRESIDENT AND FELLOWS OF HARVARD COLLEGE MEETS THE 33 1/3% PUBLIC SUPPORT TEST.

Schedule A, Part II, Line 10 Other Income

DESCRIPTION - PROGRAM SERVICE REVENUE EXCLUDED FROM TAX UNDER SECTIONS 512-514, COLUMN A - XXX-XX-XXXX.0, COLUMN B - XXX-XX-XXXX.0, COLUMN C - XXX-XX-XXXX.0, COLUMN D - XXX-XX-XXXX.0, COLUMN E - XXX-XX-XXXX.0, COLUMN F - XXX-XX-XXXX.0; DESCRIPTION - NET INCOME OR (LOSS) FROM FUNDRAISING EVENTS, COLUMN A - -49222.0, COLUMN B - -49666.0, COLUMN C - -36619.0, COLUMN D - -520518.0, COLUMN E - 0.0, COLUMN F - -656025.0;

Schedule A (Form 990 or 990-EZ) 2014

Additional Data

Software ID:	14000329
Software Version:	2014v1.0

- TIN:

Schedule B
(Form 990, 990-EZ,
or 990-PF)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

Information about Schedule B (Form 990, 990-EZ, or 990-PF) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Name of the organization

President and Fellows of Harvard College

Employer identification number

04-2103580

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

Check if your organization is covered by the General Rule or a Special Rule.
Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.

General Rule

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or
property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Do not complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Arrow Bullet

Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it does not meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).

For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.

Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Page 2

Name of organization President and Fellows of Harvard College

Part I	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
RESTRICTED	,	$RESTRICTED	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Page 3

Name of organization President and Fellows of Harvard College

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Page 4

Name of organization
President and Fellows of Harvard College

Employer identification number

04-2103580

Part III

Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10)
that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet

$
Use duplicate copies of Part III if additional space is needed.

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a) No.
from
Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Additional Data

Software ID:	14000329
Software Version:	2014v1.0

- TIN:

SCHEDULE C
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Political Campaign and Lobbying Activities

For Organizations Exempt From Income Tax Under section 501(c) and section 527
SchCMd Bullet

Complete if the organization is described below. SchCMd Bullet

Attach to Form 990 or Form 990-EZ.
SchCMd Bullet

Information about Schedule C (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public
Inspection

If the organization answered "Yes" to Form 990, Part IV, Line 3, or Form 990-EZ, Part V, line 46 (Political Campaign Activities), then
Round Bullet

Section 501(c)(3) organizations: Complete Parts I-A and B. Do not complete Part I-C.
Round Bullet

Section 501(c) (other than section 501(c)(3)) organizations: Complete Parts I-A and C below. Do not complete Part I-B.
Round Bullet

Section 527 organizations: Complete Part I-A only.
If the organization answered "Yes" to Form 990, Part IV, Line 4, or Form 990-EZ, Part VI, line 47 (Lobbying Activities), then
Round Bullet

Section 501(c)(3) organizations that have filed Form 5768 (election under section 501(h)): Complete Part II-A. Do not complete Part II-B.
Round Bullet

Section 501(c)(3) organizations that have NOT filed Form 5768 (election under section 501(h)): Complete Part II-B. Do not complete Part II-A.
If the organization answered "Yes" to Form 990, Part IV, Line 5 (Proxy Tax) (see separate instructions) or Form 990-EZ, Part V, line 35c (Proxy Tax) (see separate instructions), then
Round Bullet

Section 501(c)(4), (5), or (6) organizations: Complete Part III.

Name of the organization

President and Fellows of Harvard College

Employer identification number

04-2103580

Part I-A

Complete if the organization is exempt under section 501(c) or is a section 527 organization.

Provide a description of the organization’s direct and indirect political campaign activities in Part IV.

Political expenditures .................................... SchCMd Bullet

Volunteer hours ........................................

Part I-B

Complete if the organization is exempt under section 501(c)(3).

Enter the amount of any excise tax incurred by the organization under section 4955 ......... SchCMd Bullet

Enter the amount of any excise tax incurred by organization managers under section 4955 ...... SchCMd Bullet

If the organization incurred a section 4955 tax, did it file Form 4720 for this year? ..............

Yes No

Was a correction made? .........................................

Yes No

If "Yes," describe in Part IV.

Part I-C

Complete if the organization is exempt under section 501(c), except section 501(c)(3).

Enter the amount directly expended by the filing organization for section 527 exempt function activities SchCMd Bullet

Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt function activities ................................... SchCMd Bullet

Total exempt function expenditures. Add lines 1 and 2. Enter here and on Form 1120-POL, line 17b.. SchCMd Bullet

Did the filing organization file Form 1120-POL for this year? ..........................

Yes No

Enter the names, addresses and employer identification number (EIN) of all section 527 political organizations to which the filing
organization made payments. For each organization listed, enter the amount paid from the filing organization’s funds. Also enter the amount of political contributions received that were promptly and directly delivered to a separate political organization, such as a separate segregated fund or a political action committee (PAC). If additional space is needed, provide information in Part IV.

(a) Name	(b) Address	(c) EIN	(d) Amount paid from filing organization's funds. If none, enter -0-.	(e) Amount of political contributions received and promptly and directly delivered to a separate political organization. If none, enter -0-.

For Paperwork Reduction Act Notice, see the instructions for Form 990 or 990-EZ.

Cat. No. 50084S

Schedule C (Form 990 or 990-EZ) 2014

Page 2

Part II-A

Complete if the organization is exempt under section 501(c)(3) and filed Form 5768 (election under section 501(h)).

A Check SchCMd Bullet

if the filing organization belongs to an affiliated group (and list in Part IV each affiliated group member's name, address, EIN, expenses, and share of excess lobbying expenditures).
B Check SchCMd Bullet

if the filing organization checked box A and "limited control" provisions apply.

Limits on Lobbying Expenditures (The term "expenditures" means amounts paid or incurred.)		(b) Affiliated group totals
1a	Total lobbying expenditures to influence public opinion (grass roots lobbying) ......
b	Total lobbying expenditures to influence a legislative body (direct lobbying) .......
c	Total lobbying expenditures (add lines 1a and 1b) ...................
d	Other exempt purpose expenditures ........................
e	Total exempt purpose expenditures (add lines 1c and 1d) ...............
f	Lobbying nontaxable amount. Enter the amount from the following table in both columns.
	If the amount on line 1e, column (a) or (b) is:The lobbying nontaxable amount is:
	Not over $500,00020% of the amount on line 1e.
	Over $500,000 but not over $1,000,000$100,000 plus 15% of the excess over $500,000.
	Over $1,000,000 but not over $1,500,000$175,000 plus 10% of the excess over $1,000,000.
	Over $1,500,000 but not over $17,000,000$225,000 plus 5% of the excess over $1,500,000.
	Over $17,000,000$1,000,000.

g	Grassroots nontaxable amount (enter 25% of line 1f) .................
h	Subtract line 1g from line 1a. If zero or less, enter -0-. ................
i	Subtract line 1f from line 1c. If zero or less, enter -0-. ................
j	If there is an amount other than zero on either line 1h or line 1i, did the organization file Form 4720 reporting section 4911 tax for this year? ......................................	Yes No

4-Year Averaging Period Under section 501(h) (Some organizations that made a section 501(h) election do not have to complete all of the five columns below. See the separate instructions for lines 2a through 2f.)
Lobbying Expenditures During 4-Year Averaging Period
	Calendar year (or fiscal year beginning in)	(a) 2011	(b) 2012	(c) 2013	(d) 2014	(e) Total

2a	Lobbying nontaxable amount

b	Lobbying ceiling amount (150% of line 2a, column(e))

c	Total lobbying expenditures

d	Grassroots nontaxable amount

e	Grassroots ceiling amount (150% of line 2d, column (e))

f	Grassroots lobbying expenditures

Schedule C (Form 990 or 990-EZ) 2014

Page 3

Part II-B

Complete if the organization is exempt under section 501(c)(3) and has NOT filed Form 5768 (election under section 501(h)).

For each "Yes" response to lines 1a through 1i below, provide in Part IV a detailed description of the lobbying activity.

(a)

Yes

(b)

Amount

During the year, did the filing organization attempt to influence foreign, national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of:

Volunteers? .........................................

Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? ....

Yes

Media advertisements? ....................................

Mailings to members, legislators, or the public? .........................

Yes

200

Publications, or published or broadcast statements? .......................

Yes

12,575

Grants to other organizations for lobbying purposes? .......................

Yes

226,537

Direct contact with legislators, their staffs, government officials, or a legislative body? ........

Yes

277,017

Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? ......

Other activities? ..........................

Yes

Total. Add lines 1c through 1i ...............................

516,329

Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? .....

If "Yes," enter the amount of any tax incurred under section 4912 .................

If "Yes," enter the amount of any tax incurred by organization managers under section 4912 .....

If the filing organization incurred a section 4912 tax, did it file Form 4720 for this year? .......

Part III-A

Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6).

Yes

Were substantially all (90% or more) dues received nondeductible by members? ................

Did the organization make only in-house lobbying expenditures of $2,000 or less? ................

Did the organization agree to carry over lobbying and political expenditures from the prior year? ..........

Part III-B

Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6) and if either (a) BOTH Part III-A, lines 1 and 2, are answered "No" OR (b) Part III-A, line 3, is answered “Yes."

Dues, assessments and similar amounts from members .....................

Section 162(e) nondeductible lobbying and political expenditures (do not include amounts of political
expenses for which the section 527(f) tax was paid).

Current year .........................................

Carryover from last year ....................................

Total ............................................

Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues .

If notices were sent and the amount on line 2c exceeds the amount on line 3, what portion of the excess does the organization agree to carryover to the reasonable estimate of nondeductible lobbying and political expenditure next year? ................................

Taxable amount of lobbying and political expenditures (see instructions) ..............

Part IV

Supplemental Information

Provide the descriptions required for Part l-A, line 1; Part l-B, line 4; Part l-C, line 5; Part II-A (affiliated group list); Part II-A, lines 1 and 2 (see instructions), and Part ll-B, line 1. Also, complete this part for any additional information.

Return Reference	Explanation
Schedule C, Part I-A POLITICAL CAMPAIGN ACTIVITIES	THE UNIVERSITY DOES NOT ENGAGE IN DIRECT OR INDIRECT POLITICAL CAMPAIGN ACTIVITIES ON BEHALF OF OR IN OPPOSITION TO CANDIDATES FOR PUBLIC OFFICE. THEREFORE, THE UNIVERSITY DOES NOT INCUR ANY EXCISE TAX IMPOSED UNDER SECTION 4955 REPORTABLE ON IRS FORM 4720, RETURN OF CERTAIN EXCISE TAXES UNDER CHAPTERS 41 AND 42 OF THE INTERNAL REVENUE CODE.
Schedule C, Part II-B LOBBYING ACTIVITY	THE UNIVERSITY ENGAGED IN LOBBYING ACTIVITIES BUT DID NOT MAKE A SECTION 501(H) LOBBYING EXPENDITURE ELECTION BY FILING FORM 5768. THE UNIVERSITY HAS ENGAGED IN DIRECT INTERACTION WITH LEGISLATORS AND STAFF BY TELEPHONE, EMAIL, DIRECT MAIL AND IN PERSON. LOBBYING DISCLOSURES FOR FORM 990 JULY 1, 2014 THROUGH JUNE 30, 2015: ISSUES LOBBIED AT THE FEDERAL LEVEL INCLUDE: -ISSUES RELATED TO EXPANSION AND SIMPLIFICATION OF TUITION TAX CREDITS AND DEDUCTIONS, EXTENSION OF IRA CHARITABLE ROLL-OVER PROVISION AND RELATED CHARITABLE GIVING INCENTIVES -ISSUES REGARDING TAX ADMINISTRATION, EMPLOYEE BENEFITS AND HEALTH CARE REFORM -ISSUES RELATED TO COLLEGE AND UNIVERSITY ENDOWMENTS -BUDGET AND APPROPRIATIONS FOR STUDENT FINANCIAL AID AND RESEARCH WITH NIH, NSF, DOD, DOE, NASA, EPA, HUD, TRANSPORTATION, INTERIOR, AND HHS -IMMIGRATION LEGISLATION AND STUDENT VISA ISSUES -EDUCATION AND STUDENT LENDING ISSUES, SPECIFICALLY HEA REAUTHORIZATION, DIRECT LENDING, PELL GRANT FUNDING, CONSUMER DISCLOSURES, STEM EDUCATION, PERKINS LOANS, COLLEGE COST, ACCOUNTABILITY, GRADUATE EDUCATION, INTERNATIONAL EDUCATION, CAMPUS SAFETY, AND VETERANS AND MILITARY EDUCATION ISSUES -LEGISLATION CONCERNING MUSEUMS AND HUMANITIES ISSUES -LEGISLATION CONCERNING SCIENCE POLICY AND THE AUTHORIZATION FOR VARIOUS SCIENCE AGENCIES, INCLUDING OSTP, NSF, NASA, ENERGY'S OFFICE OF SCIENCE AND OTHER AGENCIES ISSUES LOBBIED FOR THE COMMONWEALTH OF MASSACHUSETTS INCLUDE: -ISSUES RELATED TO TAX POLICY REGARDING NON-PROFITS -ISSUES RELATED TO PRIVATE HIGHER EDUCATION ENDOWMENT FUNDS -ISSUES RELATED TO MUNICIPAL RELIEF FUNDS -ISSUES RELATED TO REPORTING REQUIREMENTS FOR NON-PROFITS -ISSUES RELATED TO CAMPUS SEXUAL ASSAULT
Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY	THE UNIVERSITY PAYS MEMBERSHIP DUES TO MEMBER ORGANIZATIONS WHICH MAY ENGAGE IN LOBBYING ACTIVITIES. THEREFORE, A PORTION OF THE DUES MAY BE ATTRIBUTABLE TO LOBBYING ACTIVITIES.

Schedule C (Form 990 or 990EZ) 2014

Additional Data

Software ID:	14000329
Software Version:	2014v1.0

- TIN:

SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Financial Statements

Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
SchDMd Bullet

Attach to Form 990.
Information about Schedule D (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization

President and Fellows of Harvard College

Employer identification number

04-2103580

Part I

Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.

		(a) Donor advised funds
1	Total number at end of year .........	35
2	Aggregate value of contributions to (during year)	4,666,826
3	Aggregate value of grants from (during year)	15,576,986
4	Aggregate value at end of year ........	194,757,730

Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ............

Yes No

Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................

Yes No

Part II

Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.

Purpose(s) of conservation easements held by the organization (check all that apply).

Preservation of land for public use (e.g., recreation or education) Preservation of an historically important land area

Protection of natural habitat Preservation of a certified historic structure

Preservation of open space

Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.


a	Total number of conservation easements .......................	2a
b	Total acreage restricted by conservation easements ..................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after 8/17/06, and not on a historic structure listed in the National Register ....................	2d

Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the tax year SchDMd Bullet

Number of states where property subject to conservation easement is located SchDMd Bullet

Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................

Yes No

Staff and volunteer hours devoted to monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet

Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet

Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .......................................

Yes No

In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" to Form 990, Part IV, line 8.

If the organization elected, as permitted under SFAS 116 (ASC 958), not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.

If the organization elected, as permitted under SFAS 116 (ASC 958), to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:

(i)

Revenue included in Form 990, Part VIII, line 1 ........................ SchDMd Bullet

(ii)

Assets included in Form 990, Part X .............................. SchDMd Bullet

If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 (ASC 958) relating to these items:

Revenue included in Form 990, Part VIII, line 1 .......................... SchDMd Bullet

$ 0

Assets included in Form 990, Part X ............................... SchDMd Bullet

$ 0

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 52283D

Schedule D (Form 990) 2014

Page 2

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)

Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):

Public exhibition

Loan or exchange programs

Scholarly research

Other

Preservation for future generations

Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.

During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?........

Yes No

Part IV

Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990,
Part IV, line 9, or reported an amount on Form 990, Part X, line 21.

Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................

Yes No

If "Yes," explain the arrangement in Part XIII and complete the following table:

			Amount
c	Beginning balance .................................	1c	0
d	Additions during the year ..............................	1d	9,528,262
e	Distributions during the year .............................	1e	9,528,262
f	Ending balance ...................................	1f	0

Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability?

Yes No

If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII .......

Part V

Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.

		(a)Current year	(b)Prior year	b (c)Two years back	(d)Three years back	(e)Four years back
1a	Beginning of year balance ....	35,259,921,000	31,627,772,000	29,733,245,000	30,974,930,000	26,768,706,000
b	Contributions ........	1,011,117,000	736,006,000	320,079,000	305,850,000	223,000,000
c	Net investment earnings, gains, and losses	1,892,160,000	4,529,290,000	3,159,164,000	708,000	5,374,404,000
d	Grants or scholarships .....	250,265,000	253,540,000	242,576,000	239,374,000	216,754,000
e	Other expenditures for facilities and programs ........	1,288,277,000	1,192,682,000	1,168,178,000	1,172,548,000	1,035,938,000
f	Administrative expenses ....	196,125,000	186,925,000	173,962,000	136,321,000	138,488,000
g	End of year balance ......	36,428,531,000	35,259,921,000	31,627,772,000	29,733,245,000	30,974,930,000

Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:

Board designated or quasi-endowment SchDMd Bullet

16.5 %

Permanent endowment SchDMd Bullet

18.8 %

Temporarily restricted endowment SchDMd Bullet

64.7 %

The percentages in lines 2a, 2b, and 2c should equal 100%.

Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes

(i) unrelated organizations ........................

3a(i)

Yes

(ii) related organizations ........................

3a(ii)

Yes

If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........

Yes

Describe in Part XIII the intended uses of the organization's endowment funds.

Part VI

Land, Buildings, and Equipment. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11a. See Form 990, Part X, line 10.

Description of property		(a) Cost or other basis (investment)	(b)Cost or other basis (other)	(c) Accumulated depreciation	(d) Book value
1a	Land .................		537,051,000		537,051,000
b	Buildings ................		7,378,415,000	3,213,913,000	4,164,502,000
c	Leasehold improvements ............		241,206,000		241,206,000
d	Equipment ................		1,104,417,000	833,356,000	271,061,000
e	Other .................	9,335,000	671,205,000		680,540,000
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).).......					5,894,360,000

Schedule D (Form 990) 2014

Page 3

Part VII

InvestmentsOther Securities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11b. See Form 990, Part X, line 12.

(a) Description of security or category (including name of security)	(b)Book value	(c) Method of valuation: Cost or end-of-year market value
(1)Financial derivatives
(2)Closely-held equity interests
(3)Other (A) PRIVATE EQUITIES	7,176,705,000	F
(B) REAL ASSETS	12,704,622,000	F







Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)	19,881,327,000

Part VIII

InvestmentsProgram Related. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11c. See Form 990, Part X, line 13.

(a) Description of investment		(b) Book value	(c) Method of valuation: Cost or end-of-year market value









Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)

Part IX

Other Assets. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11d. See Form 990, Part X, line 15.

(a) Description				(b) Book value
(1) COLLATERAL ADVANCED UNDER SECURITY BORROWING AGREEMENTS				8,425,165,000
(2) INVESTMENT IN TRUSTS HELD BY OTHERS				363,175,000
(3) OTHER INVESTMENTS				1,551,348,000






Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........				10,339,688,000

Part X

Other Liabilities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.

1.(a) Description of liability		(b) Book value
Federal income taxes
SECURITIES LENDING/ OTHER INVESTMENT LIABILITIES		21,183,731,000
GOVERNMENT LOAN ADVANCES		69,432,000
LIABILITIES UNDER SPLIT INTEREST AGREEMENTS		910,083,000
DEPOSITS AND OTHER LIABILITIES		300,634,000
ACCRUED RETIREMENT OBLIGATIONS		957,001,000
DUE TO CONSOLIDATED ORGANIZATIONS		87,128,000



Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)		23,508,009,000
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII

Schedule D (Form 990) 2014

Page 4

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......		1
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d .....................		2e
3	Subtract line 2e from line 1.....................		3
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b.......................		4c
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......		5

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........		1
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities ..........	2a
b	Prior year adjustments ..............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d......................		2e
3	Subtract line 2e from line 1.....................		3
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a
b	Other (Describe in Part XIII.) ............	4b
c	Add lines 4a and 4b.......................		4c
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......		5

Part XIII

Supplemental Information

Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.

Return Reference	Explanation
Schedule D, Part X, Line 2 FIN 48 (ASC 740):	EFFECTIVE JULY 1, 2007, THE UNIVERSITY ADOPTED FASB INTERPRETATION NO. 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (FIN 48 (ASC 740)). FIN 48 (ASC 740) SETS A MINIMUM THRESHOLD FOR FINANCIAL STATEMENT RECOGNITION OF THE BENEFIT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. TAX POSITIONS FOR THE OPEN TAX YEARS AS OF JUNE 30, 2015 WERE REVIEWED AND IT WAS DETERMINED THAT NO PROVISION FOR UNCERTAIN TAX PROVISIONS WAS REQUIRED. ACCORDINGLY, THERE IS NO DISCLOSURE IN THE JUNE 30, 2015 FINANCIAL STATEMENTS REGARDING UNCERTAIN TAX POSITIONS.
Schedule D, Part III, Line 1a Collections of art - financial statement footnote	THE UNIVERSITY'S VAST ARRAY OF MUSEUMS AND LIBRARIES CONTAINS PRICELESS WORKS OF ART, HISTORICAL TREASURES, LITERARY WORKS, AND ARTIFACTS. THESE COLLECTIONS ARE PROTECTED AND PRESERVED FOR PUBLIC EXHIBITION, EDUCATION, RESEARCH, AND THE FURTHERANCE OF PUBLIC SERVICE. THEY ARE NEITHER DISPOSED OF FOR FINANCIAL GAIN NOR ENCUMBERED IN ANY MANNER. ACCORDINGLY, SUCH COLLECTIONS ARE NOT RECORDED FOR FINANCIAL STATEMENT PURPOSES.
Schedule D, Part III, Line 4 Collections of art - description of collections	HARVARD ART MUSEUMS: THE HARVARD ART MUSEUMS ARE THREE MUSEUMS (FOGG MUSEUM, BUSCH-REISINGER MUSEUM, ARTHUR M. SACKLER MUSEUM) AND FOUR RESEARCH CENTERS (STRAUS CENTER FOR CONSERVATION AND TECHNICAL STUDIES, CENTER FOR THE TECHNICAL STUDY OF MODERN ART, HARVARD ART MUSEUM ARCHIVES, ARCHAEOLOGICAL EXPLORATION OF SARDIS, TURKEY). THE MUSEUMS' COLLECTION CONSISTS OF MORE THAN 250,000 OBJECTS IN ALL MEDIA, RANGING IN DATE FROM ANTIQUITY TO THE PRESENT WITH WORLDWIDE ORIGINS. THE COLLECTION IS AN IMPORTANT RESOURCE FOR THE HARVARD UNIVERSITY COMMUNITY, AS WELL AS TO A BROADER AUDIENCE OF STUDENTS, SCHOLARS, AND THE GENERAL PUBLIC. IT IS USED TO ADVANCE THE KNOWLEDGE AND APPRECIATION OF ART AND ART MUSEUMS THROUGH PROGRAMS INVOLVING RESEARCH, TEACHING, PROFESSIONAL TRAINING, AND PUBLIC EDUCATION. ARNOLD ARBORETUM: THE ARNOLD ARBORETUM OF HARVARD UNIVERSITY IS THE OLDEST PUBLIC ARBORETUM IN NORTH AMERICA AND ONE OF THE WORLD'S LEADING CENTERS FOR THE STUDY OF PLANTS. ADMINISTERED BY THE OFFICE OF THE PROVOST OF HARVARD UNIVERSITY AND A LINK IN BOSTON'S EMERALD NECKLACE OF PARKS, THE ARNOLD ARBORETUM IS A UNIQUE BLEND OF RESPECTED RESEARCH INSTITUTION AND BELOVED PUBLIC LANDSCAPE. WE PROVIDE AND SUPPORT WORLD-CLASS RESEARCH, HORTICULTURE, AND EDUCATION PROGRAMS THAT FOSTER THE UNDERSTANDING, APPRECIATION, AND PRESERVATION OF TREES. COLLECTION OF HISTORICAL SCIENTIFIC INSTRUMENTS: HARVARD UNIVERSITY HAS BEEN ACQUIRING SCIENTIFIC INSTRUMENTS ON A CONTINUOUS BASIS FOR TEACHING AND RESEARCH SINCE 1672. THE COLLECTION OF HISTORICAL SCIENTIFIC INSTRUMENTS, WHICH WAS ESTABLISHED IN 1948 TO PRESERVE THIS APPARATUS AS A RESOURCE FOR TEACHING AND RESEARCH IN THE HISTORY OF SCIENCE AND TECHNOLOGY, HAS BECOME ONE OF THE THREE LARGEST UNIVERSITY COLLECTIONS OF ITS KIND IN THE WORLD. IT CONTAINS OVER 20,000 OBJECTS DATING FROM ABOUT 1400 TO THE PRESENT. A BROAD RANGE OF SCIENTIFIC DISCIPLINES ARE REPRESENTED, INCLUDING ASTRONOMY, NAVIGATION, HOROLOGY, SURVEYING, GEOLOGY, CALCULATING, PHYSICS, BIOLOGY, MEDICINE, PSYCHOLOGY, ELECTRICITY, AND COMMUNICATION. SIGNIFICANT INSTRUMENTS, MADE OBSOLETE BY NEW TECHNOLOGIES, CONTINUE TO BE INCORPORATED. MANY OF THE DOCUMENTS DETAILING THE PURCHASE AND USE OF THE INSTRUMENTS HAVE BEEN PRESERVED, AND ARE AVAILABLE FOR RESEARCH IN THE COLLECTION'S ADJUNCT LIBRARY. MUSEUM OF COMPARATIVE ZOOLOGY (WITHIN THE MUSEUM OF NATURAL HISTORY): THE MUSEUM OF COMPARATIVE ZOOLOGY (THE MCZ) WAS FOUNDED IN 1859 ON THE CONCEPT THAT COLLECTIONS ARE AN INTEGRAL AND FUNDAMENTAL COMPONENT OF ZOOLOGICAL RESEARCH AND TEACHING. THIS 150-YEAR-OLD COMMITMENT REMAINS A STRONG AND PROUD TRADITION FOR THE MCZ. THE PRESENT-DAY MCZ CONTAINS OVER 21 MILLION SPECIMENS IN TEN RESEARCH COLLECTIONS WHICH COMPRISE ONE OF THE WORLD'S RICHEST AND MOST VARIED RESOURCES FOR STUDYING THE DIVERSITY OF LIFE. THE MUSEUM SERVES AS THE PRIMARY REPOSITORY FOR ZOOLOGICAL SPECIMENS COLLECTED BY PAST AND PRESENT HARVARD FACULTY-CURATORS, STAFF AND ASSOCIATES CONDUCTING RESEARCH AROUND THE WORLD. AS A PREMIER UNIVERSITY MUSEUM AND RESEARCH INSTITUTION, THE SPECIMENS AND THEIR RELATED DATA ARE AVAILABLE TO RESEARCHERS OF THE SCIENTIFIC AND MUSEUM COMMUNITY. USE OF THE COLLECTIONS IN STUDENT RESEARCH IS ALSO ENCOURAGED. FISHER MUSEUM HARVARD FOREST: THE FISHER MUSEUM'S MAIN EXHIBIT DISPLAYS TWENTY-THREE INTERNATIONALLY ACCLAIMED MODELS (DIORAMAS) PORTRAYING THE HISTORY, CONSERVATION AND MANAGEMENT OF CENTRAL NEW ENGLAND FORESTS. OTHER EXHIBITS AT THE MUSEUM REPRESENT THE RANGE OF HARVARD FOREST'S RESEARCH. HARVARD UNIVERSITY HERBARIA (WITHIN MUSEUM OF NATURAL HISTORY): THE HARVARD UNIVERSITY HERBARIA ARE AMONG SOME SEVERAL THOUSAND COLLECTIONS OF PRESSED, DRIED PLANT SPECIMENS WORLDWIDE THAT ARE USED BY RESEARCHERS TO FURTHER OUR UNDERSTANDING OF THE PLANT WORLD. SOME OF THE EARLIEST HERBARIA WERE FOUNDED IN EUROPE IN THE EARLY 1600'S, DURING THE DAYS OF EXPLORATION, WHEN KNOWLEDGE OF THE EARTH'S FLORA WAS GROWING AT SUCH A RAPID PACE THAT BOTANICAL GARDENS COULD NO LONGER MAINTAIN LIVING EXAMPLES OF EVERY KNOWN SPECIES. WHILE HERBARIUM COLLECTIONS OF ALL SIZES EXIST TODAY, THERE ARE FEWER THAN 75 HERBARIA WORLDWIDE WITH MORE THAN ONE MILLION SPECIMENS. HERBARIUM COLLECTIONS HAVE BEEN BUILT BY THE EFFORTS OF NUMEROUS BOTANISTS AND PLANT COLLECTORS WHO SEARCHED FROM REMOTE AND ISOLATED JUNGLES TO INNER CITY WASTE LOTS AND RAILROAD TRACKS TO DOCUMENT THE DIVERSITY AND DISTRIBUTION OF THE EARTH'S FLORA. REPRESENTATIVES OF MOST KNOWN SPECIES OF PLANTS CAN BE FOUND IN HERBARIA TODAY, CAREFULLY MOUNTED ON SHEETS OF ARCHIVAL QUALITY PAPER, LABELED WITH IMPORTANT INFORMATION ABOUT THEM, AND STORED ON SHELVES IN CABINETS. IN ESSENCE, A HERBARIUM IS ANALOGOUS TO A LIBRARY OF CAREFULLY PRESERVED PLANTS WHERE THE SPECIMENS THEMSELVES AND THE LABELS ASSOCIATED WITH THEM PROVIDE A WEALTH OF INFORMATION ONCE THEY HAVE BEEN "READ" AND STUDIED BY SCIENTISTS. THE SPECIMENS ARE THE KEY TO UNDERSTANDING PLANT RELATIONSHIPS, GEOGRAPHIC DISTRIBUTIONS, ECONOMIC USEFULNESS, EVEN THEIR MOLECULAR MAKEUP. AS WE LOSE NATURAL HABITATS THE WORLD OVER, HERBARIA INCREASINGLY SERVE AS A RECORD OF THE RECENT HISTORY OF PLANT LIFE, AND AS A REPOSITORY OF PRECIOUS GENETIC INFORMATION. HERBARIA HOLD THE TOOLS FOR OUR UNDERSTANDING OF THE PLANT WORLD. MINERALOGICAL AND GEOLOGICAL MUSEUM (WITHIN MUSEUM OF NATURAL HISTORY): THE HARVARD MINERAL COLLECTION RANKS AMONG THE WORLD'S FINEST DUE TO ITS VERY BROAD REPRESENTATION, WEALTH OF RARE SPECIES; LARGE NUMBER OF SPECIMENS DESCRIBED IN THE SCIENTIFIC LITERATURE; AND THE QUALITY OF ITS DISPLAY SPECIMENS. A RICH SYSTEMATIC MINERAL COLLECTION AND DISPLAYS OF GEMSTONES ARE THE PRINCIPAL EXHIBITS IN THE MINERAL GALLERY. THE MUSEUM IS COMMITTED TO THE DEVELOPMENT AND PRESERVATION OF WORLD-CLASS COLLECTIONS OF MINERALS, GEMS, ROCKS, ORES, AND METEORITES FOR RESEARCH, EDUCATION, AND PUBLIC DISPLAY. ITS EARLIEST COLLECTIONS DATE BACK TO THE LATE 18TH CENTURY. THE MUSEUM CATERS TO THE HARVARD STUDENTS AND FACULTY AS WELL AS THE GEOLOGICAL COMMUNITY AT LARGE BY SERVING AS A UNIQUELY RICH RESOURCE OF MATERIALS AND INFORMATION. PEABODY MUSEUM OF ARCHAEOLOGY AND ETHNOLOGY: THE PEABODY MUSEUM OF ARCHAEOLOGY AND ETHNOLOGY IS STEWARD TO ONE OF THE OLDEST AND LARGEST COLLECTIONS OF CULTURAL OBJECTS IN THE WESTERN HEMISPHERE. SINCE THE LATE NINETEENTH CENTURY, THE MUSEUM HAS PLAYED AN ACTIVE PART IN THE HISTORY OF AMERICAN ANTHROPOLOGY AND IN THE EVOLVING RELATIONSHIP BETWEEN MUSEUMS AND NATIVE PEOPLES. THE PEABODY STRIVES TO MAKE COLLECTIONS WIDELY ACCESSIBLE AND ENGAGE ISSUES OF CONCERN TO DIVERSE AUDIENCES. TODAY, THE PEABODY HOUSES MORE THAN SIX MILLION INDIVIDUAL OBJECTS, 500,000 PHOTOGRAPHIC IMAGES, AND SUBSTANTIAL ARCHIVAL RECORDS. STRONGEST IN THE CULTURES OF NORTH, CENTRAL, AND SOUTH AMERICA, AND THE PACIFIC ISLANDS, THE PEABODY IS ALSO CARETAKER TO IMPORTANT COLLECTIONS FROM AFRICA, EUROPE, AND ASIA. COLLECTION TYPES INCLUDE ARCHAEOLOGY; ETHNOGRAPHY; OSTEOLOGY; AND PAINTING, DRAWING, AND PRINTS. SEMITIC MUSEUM: THE SEMITIC MUSEUM IS HOME TO THE UNIVERSITY'S COLLECTIONS OF NEAR EASTERN ARCHAEOLOGICAL ARTIFACTS. THESE ARTIFACTS COMPRISE OVER 40,000 ITEMS, INCLUDING POTTERY, CYLINDER SEALS, SCULPTURE, COINS AND CUNEIFORM TABLETS. MANY ARE FROM MUSEUM-SPONSORED EXCAVATIONS IN ISRAEL, JORDAN, IRAQ, EGYPT, CYPRUS, AND TUNISIA. THE MUSEUM IS DEDICATED TO THE USE OF THESE COLLECTIONS FOR THE TEACHING, RESEARCH, AND PUBLICATION OF NEAR EASTERN ARCHAEOLOGY, HISTORY, AND CULTURE. WARREN ANATOMICAL MUSEUM: THE WARREN ANATOMICAL MUSEUM'S PRESENT COLLECTION CONTAINS APPROXIMATELY 15,000 ARTIFACTS AND CASES INCLUDING: ANATOMICAL AND PATHOLOGICAL PREPARATIONS; VARIOUS WAX, PAPER MACHE, AND DRY PREPARATION ANATOMICAL MODELS; PHOTOGRAPHS, PRINTS, PAINTINGS, AND DRAWINGS; MEDICAL INSTRUMENTS AND MACHINES; AND OTHER MEDICAL MEMORABILIA. ALONG WITH THE WELL-KNOWN SKULL OF PHINEAS GAGE, THE MUSEUM HOLDS MANY OTHER RARE AND INTERESTING ITEMS. AMONG THESE ARE THE PHRENOLOGICAL COLLECTION OF JOHANN GASPAR SPURZHEIM, THE BOSTON SOCIETY FOR MEDICAL IMPROVEMENT COLLECTION, AND A W. T. G. MORTON-TYPE ETHER INHALER. THE MUSEUM PROMOTES THE COLLECTION FOR THE PURPOSES OF MEDICAL EDUCATION IN ALL FORMS WHENEVER POSSIBLE, BY EXPANDING ITS SCOPE TO PROVIDE PUBLIC PROGRAMMING AND EDUCATIONAL RESOURCES TO THE LARGER COMMUNITY. CARPENTER CENTER FOR THE VISUAL ARTS: CARPENTER CENTER FOR THE VISUAL ARTS IS DEDICATED TO THE SYNTHESIS OF ART, DESIGN, AND EDUCATION THROUGH THE EXHIBITION OF EXISTING WORKS AND PRODUCTION OF NEW COMMISSIONS. IT STRIVES TO BRING PEOPLE, IDEAS, AND OBJECTS TOGETHER IN GENERATIVE WAYS THAT PROVIDE UNPARALLELED EXPERIENCES WITH CONTEMPORARY ART, ULTIMATELY ENRICHING THE CREATIVE AND INTELLECTUAL LIVES OF THEIR AUDIENCES.
Schedule D, Part IV, Line 1b Agent, trustee, custodian, or other intermediary arrangement	AGENCY FUNDS REPRESENT AWARDS UNDER WHICH HARVARD SERVES AS AN INTERMEDIARY AGENT BETWEEN THE SPONSOR (USUALLY FEDERAL) AND THE ULTIMATE THIRD PARTY RECIPIENT. THE TRANSFER OF THE ASSETS TO HARVARD IS NOT A CONTRIBUTION RECEIVED BY HARVARD AND THE TRANSFER OF ASSETS TO THE RECIPIENT IS NOT A CONTRIBUTION MADE BY HARVARD. HARVARD DRAWS DOWN ON ITS FEDERAL LINES OF CREDIT MONTHLY TO COVER THOSE COSTS INCURRED ON FEDERAL AWARDS. THEREFORE, THERE IS NO BEGINNING OR ENDING BALANCE FOR THESE AGENCY FUNDS.
Schedule D, Part V, Line 4 Intended uses of endowment funds	THE PRIMARY GOAL OF THE ENDOWMENT IS TO SUPPORT THE UNIVERSITY'S TEACHING AND RESEARCH MISSION. THE ENDOWMENT ROLLFORWARD ON SCHEDULE D, PART V HAS BEEN RESTATED FOR THE FISCAL YEAR ENDED JUNE 30, 2011 TO PROPERLY EXCLUDE THE ENDOWMENTS OF CERTAIN RELATED ORGANIZATIONS THAT WERE PREVIOUSLY INCLUDED IN THE REPORTED TOTAL. THIS RESTATEMENT DOES NOT CHANGE NET ASSETS REPORTED ON THE FORM 990 BALANCE SHEET FOR THE FISCAL YEARS ENDED JUNE 30, 2011.

Schedule D (Form 990) 2014

Additional Data

Software ID:	14000329
Software Version:	2014v1.0

- TIN:

SCHEDULE E(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Schools

Complete if the organization answered "Yes" to Form 990,
Part IV, line 13, or Form 990-EZ, Part VI, line 48.
Right pointing arrow large image

Attach to Form 990 or Form 990-EZ.
Right pointing arrow large image

Information about Schedule E (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047 2014Open to Public Inspection

Name of the organization

President and Fellows of Harvard College

Employer identification number

04-2103580

Part I

YES

Does the organization have a racially nondiscriminatory policy toward students by statement in its charter, bylaws,

other governing instrument, or in a resolution of its governing body? ......................

Yes

Does the organization include a statement of its racially nondiscriminatory policy toward students in all its

brochures, catalogues, and other written communications with the public dealing with student admissions,

programs, and scholarships? ......................................

Yes

Has the organization publicized its racially nondiscriminatory policy through newspaper or broadcast media during

the period of solicitation for students, or during the registration period if it has no solicitation program, in a way

that makes the policy known to all parts of the general community it serves? If "Yes," please describe. If "No,"

please explain. If you need more space use Part II. .............................

Does the organization maintain the following?

Records indicating the racial composition of the student body, faculty, and administrative staff? ..........

Yes

Records documenting that scholarships and other financial assistance are awarded on a racially nondiscriminatory

basis? ...............................................

Yes

Copies of all catalogues, brochures, announcements, and other written communications to the public dealing

with student admissions, programs, and scholarships? ...........................

Yes

Copies of all material used by the organization or on its behalf to solicit contributions? ..............

Yes

If you answered "No" to any of the above, please explain. If you need more space, use Part II.

Does the organization discriminate by race in any way with respect to:

Students' rights or privileges? .....................................

Admissions policies? .........................................

Employment of faculty or administrative staff? ..............................

Scholarships or other financial assistance? ................................

Educational policies? .........................................

Use of facilities? ...........................................

Athletic programs? ..........................................

Other extracurricular activities? .....................................

If you answered "Yes" to any of the above, please explain. If you need more space, use Part II.

Does the organization receive any financial aid or assistance from a governmental agency? ...........

Yes

Has the organization's right to such aid ever been revoked or suspended? ...................

If you answered "Yes" to either line 6a or line 6b, explain on Part II.

Does the organization certify that it has complied with the applicable requirements of sections 4.01 through 4.05

of Rev. Proc. 75-50, 1975-2 C.B. 587, covering racial nondiscrimination? If "No," explain on Part II.

Yes

Paperwork Reduction Act Notice, see the Instructions for Form 990 or Form 990-EZ.

Cat. No. 50085D

Schedule E (Form 990 or 990-EZ) (2014)

Schedule E (Form 990 or 990EZ) (2014)

Page 2

Part II

Supplemental Information. Provide the explanations required by Part I, lines 3, 4d, 5h, 6b, and 7, as applicable. Also provide any other additional information (see instructions).

Return Reference

Explanation

Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY

THE ORGANIZATION MEETS THE CRITERIA ESTABLISHED IN SECTION 4.0 REVENUE PROCEDURE 75-50. THE UNIVERSITY DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS NATIONWIDE AND WORLDWIDE AND FOLLOWS A RACIALLY NONDISCRIMINATORY POLICY AS TO STUDENTS. IT SATISFIES THE PUBLICITY REQUIREMENT BY INCLUDING A STATEMENT OF ITS RACIALLY NONDISCRIMINATORY POLICY AS TO STUDENTS IN ALL ITS BROCHURES AND CATALOGS DEALING WITH STUDENT ADMISSIONS, PROGRAMS, AND SCHOLARSHIPS. IT ALSO REFERENCES ITS RACIALLY NONDISCRIMINATORY POLICY IN OTHER WRITTEN ADVERTISING THAT IT USES AS A MEANS OF INFORMING PROSPECTIVE STUDENTS OF ITS PROGRAMS.

Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT

THIS ORGANIZATION RECEIVES FUNDS FOR RESEARCH AND ADMINISTERS FEDERAL AID PROGRAMS TO STUDENTS ENROLLED IN POST-SECONDARY EDUCATION.

Schedule E (Form 990 or 990-EZ) (2014)

Additional Data

Software ID:	14000329
Software Version:	2014v1.0

- TIN:

SCHEDULE F(Form 990)

Department of the Treasury
Internal Revenue Service

Statement of Activities Outside the United States

Complete if the organization answered "Yes" to Form 990,Part IV, line 14b, 15, or 16. Right pointing arrow large image

Attach to Form 990. Right pointing arrow large image

Information about Schedule F (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization
President and Fellows of Harvard College

Employer identification number

04-2103580

Part I

General Information on Activities Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 14b.

For grantmakers. Does the organization maintain records to substantiate the amount of its grants

and other assistance, the grantees’ eligibility for the grants or assistance, and the selection criteria

used to award the grants or assistance? ...........................

Yes

For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of its grants and other assistance outside the United States.

Activites per Region. (The following Part I, line 3 table can be duplicated if additional space is needed.)

(a) Region		(b) Number of offices in the region	(c) Number of employees, agents, and independent contractors in region	(d) Activities conducted in region (by type) (e.g., fundraising, program services, investments, grants to recipients located in the region)	(e) If activity listed in (d) is a program service, describe specific type of service(s) in region	(f) Total expenditures for and investments in region
	Central America and the Caribbean			Fundraising		11,782
	Central America and the Caribbean			Grantmaking		22,663
	Central America and the Caribbean			Investments		309,498,031
	Central America and the Caribbean	1	20	Program Services	UNIVERSITY ACTIVITIES	453,169
	East Asia and the Pacific			Fundraising		1,150,895
	East Asia and the Pacific			Grantmaking		1,299,713
	East Asia and the Pacific			Investments		1,555,558,037
	East Asia and the Pacific	3	10	Program Services	UNIVERSITY ACTIVITIES	12,084,756
	Europe (Including Iceland and Greenland)			Fundraising		959,976
	Europe (Including Iceland and Greenland)			Grantmaking		5,274,635
	Europe (Including Iceland and Greenland)			Investments		1,079,134,212
	Europe (Including Iceland and Greenland)	2	45	Program Services	UNIVERSITY ACTIVITIES	19,418,983
	Middle East and North Africa			Fundraising		30,962
	Middle East and North Africa			Grantmaking		344,639
	Middle East and North Africa			Investments		60,848,937
	Middle East and North Africa	1	1	Program Services	UNIVERSITY ACTIVITIES	3,600,706
	North America (Canada & Mexico only)			Fundraising		473,586
	North America (Canada & Mexico only)			Grantmaking		856,781
	North America (Canada & Mexico only)			Investments		134,697,986
	North America (Canada & Mexico only)		1	Program Services	UNIVERSITY ACTIVITIES	2,881,429
	Russia and Neighboring States			Fundraising		839
	Russia and Neighboring States			Grantmaking		2,423,882
	Russia and Neighboring States			Investments		156,419,940
	Russia and Neighboring States			Program Services	UNIVERSITY ACTIVITIES	356,607
	South America			Grantmaking		2,135,218
	South America			Investments		167,324,736
	South America		2	Program Services	UNIVERSITY ACTIVITIES	3,016,119
	South Asia			Fundraising		159,046
	South Asia			Grantmaking		1,781,468
	South Asia			Investments		167,756,648
	South Asia		7	Program Services	UNIVERSITY ACTIVITIES	3,113,516
	Sub-Saharan Africa			Fundraising		53,040
	Sub-Saharan Africa			Grantmaking		8,971,695
	Sub-Saharan Africa			Investments		63,551,818
	Sub-Saharan Africa		11	Program Services	UNIVERSITY ACTIVITIES	6,128,495
3a	Sub-total .....	7	76			3,049,692,096
b	Total from continuation sheets to Part I ...	0	21			722,102,849
c	Totals (add lines 3a and 3b)	7	97			3,771,794,945

For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2014

Schedule F (Form 990) 2014

Page 2

Part II

Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 15, for any recipient who received more than $5,000. Part II can be duplicated if additional space is needed.

(a)(c) Region	(b)(d) Purpose of grant	(e) Amount of cash grant	(f) Manner of cash disbursement
East Asia and the Pacific	Sponsored Research Sub-Award	336,717	EFT OR CHECK
East Asia and the Pacific	Sponsored Research Sub-Award	173,703	EFT OR CHECK
East Asia and the Pacific	Sponsored Research Sub-Award	114,843	EFT OR CHECK
East Asia and the Pacific	Sponsored Research Sub-Award	53,297	EFT OR CHECK
East Asia and the Pacific	Sponsored Research Sub-Award	51,396	EFT OR CHECK
East Asia and the Pacific	Sponsored Research Sub-Award	50,000	EFT OR CHECK
East Asia and the Pacific	Sponsored Research Sub-Award	43,108	EFT OR CHECK
East Asia and the Pacific	Sponsored Research Sub-Award	34,110	EFT OR CHECK
East Asia and the Pacific	Sponsored Research Sub-Award	29,669	EFT OR CHECK
East Asia and the Pacific	Sponsored Research Sub-Award	27,882	EFT OR CHECK
East Asia and the Pacific	Sponsored Research Sub-Award	15,107	EFT OR CHECK
East Asia and the Pacific	Sponsored Research Sub-Award	10,000	EFT OR CHECK
East Asia and the Pacific	Sponsored Research Sub-Award	8,823	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	344,563	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	282,415	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	239,076	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	226,161	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	166,200	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	149,143	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	125,776	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	123,061	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	100,000	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	92,154	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	78,280	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	73,920	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	72,150	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	60,480	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	60,000	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	57,150	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	52,571	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	52,146	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	34,961	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	28,382	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	26,324	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	18,825	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	17,400	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	15,353	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	15,000	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	14,000	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	12,107	EFT OR CHECK
Europe (Including Iceland and Greenland)	Sponsored Research Sub-Award	11,192	EFT OR CHECK
Middle East and North Africa	Sponsored Research Sub-Award	79,005	EFT OR CHECK
Middle East and North Africa	Sponsored Research Sub-Award	32,511	EFT OR CHECK
North America (Canada & Mexico only)	Sponsored Research Sub-Award	116,635	EFT OR CHECK
North America (Canada & Mexico only)	Sponsored Research Sub-Award	110,856	EFT OR CHECK
North America (Canada & Mexico only)	Sponsored Research Sub-Award	86,805	EFT OR CHECK
North America (Canada & Mexico only)	Sponsored Research Sub-Award	83,361	EFT OR CHECK
North America (Canada & Mexico only)	Sponsored Research Sub-Award	74,668	EFT OR CHECK
North America (Canada & Mexico only)	Sponsored Research Sub-Award	42,700	EFT OR CHECK
Russia and Neighboring States	Sponsored Research Sub-Award	991,360	EFT OR CHECK
Russia and Neighboring States	Sponsored Research Sub-Award	634,721	EFT OR CHECK
Russia and Neighboring States	Sponsored Research Sub-Award	203,303	EFT OR CHECK
Russia and Neighboring States	Sponsored Research Sub-Award	175,467	EFT OR CHECK
Russia and Neighboring States	Sponsored Research Sub-Award	63,532	EFT OR CHECK
Russia and Neighboring States	Sponsored Research Sub-Award	56,657	EFT OR CHECK
Russia and Neighboring States	Sponsored Research Sub-Award	52,214	EFT OR CHECK
Russia and Neighboring States	Sponsored Research Sub-Award	47,894	EFT OR CHECK
Russia and Neighboring States	Sponsored Research Sub-Award	46,245	EFT OR CHECK
Russia and Neighboring States	Sponsored Research Sub-Award	45,340	EFT OR CHECK
Russia and Neighboring States	Sponsored Research Sub-Award	36,000	EFT OR CHECK
Russia and Neighboring States	Sponsored Research Sub-Award	29,558	EFT OR CHECK
South America	Sponsored Research Sub-Award	1,816,212	EFT OR CHECK
South America	Sponsored Research Sub-Award	105,656	EFT OR CHECK
South America	Sponsored Research Sub-Award	36,212	EFT OR CHECK
South America	Sponsored Research Sub-Award	20,000	EFT OR CHECK
South America	Sponsored Research Sub-Award	7,873	EFT OR CHECK
South Asia	Sponsored Research Sub-Award	415,683	EFT OR CHECK
South Asia	Sponsored Research Sub-Award	351,770	EFT OR CHECK
South Asia	Sponsored Research Sub-Award	309,619	EFT OR CHECK
South Asia	Sponsored Research Sub-Award	216,711	EFT OR CHECK
South Asia	Sponsored Research Sub-Award	165,023	EFT OR CHECK
South Asia	Sponsored Research Sub-Award	69,760	EFT OR CHECK
South Asia	Sponsored Research Sub-Award	20,000	EFT OR CHECK
South Asia	Sponsored Research Sub-Award	19,395	EFT OR CHECK
South Asia	Sponsored Research Sub-Award	15,657	EFT OR CHECK
South Asia	Sponsored Research Sub-Award	15,165	EFT OR CHECK
South Asia	Sponsored Research Sub-Award	10,127	EFT OR CHECK
South Asia	Sponsored Research Sub-Award	6,000	EFT OR CHECK
South Asia	Sponsored Research Sub-Award	5,851	EFT OR CHECK
Sub-Saharan Africa	Sponsored Research Sub-Award	6,515,279	EFT OR CHECK
Sub-Saharan Africa	Sponsored Research Sub-Award	637,508	EFT OR CHECK
Sub-Saharan Africa	Sponsored Research Sub-Award	463,994	EFT OR CHECK
Sub-Saharan Africa	Sponsored Research Sub-Award	244,965	EFT OR CHECK
Sub-Saharan Africa	Sponsored Research Sub-Award	239,318	EFT OR CHECK
Sub-Saharan Africa	Sponsored Research Sub-Award	168,140	EFT OR CHECK
Sub-Saharan Africa	Sponsored Research Sub-Award	130,439	EFT OR CHECK
Sub-Saharan Africa	Sponsored Research Sub-Award	103,086	EFT OR CHECK
Sub-Saharan Africa	Sponsored Research Sub-Award	85,455	EFT OR CHECK
Sub-Saharan Africa	Sponsored Research Sub-Award	80,824	EFT OR CHECK
Sub-Saharan Africa	Sponsored Research Sub-Award	49,000	EFT OR CHECK
Sub-Saharan Africa	Sponsored Research Sub-Award	37,343	EFT OR CHECK
Sub-Saharan Africa	Sponsored Research Sub-Award	26,338	EFT OR CHECK
Sub-Saharan Africa	Sponsored Research Sub-Award	26,106	EFT OR CHECK
Sub-Saharan Africa	Sponsored Research Sub-Award	11,864	EFT OR CHECK
Sub-Saharan Africa	Sponsored Research Sub-Award	9,430	EFT OR CHECK
Sub-Saharan Africa	Sponsored Research Sub-Award	8,690	EFT OR CHECK
Sub-Saharan Africa	Sponsored Research Sub-Award	6,101	EFT OR CHECK

Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter .... MediumBullet

Enter total number of other organizations or entities ....................... MediumBullet

Schedule F (Form 990) 2014

Schedule F (Form 990) 2014Page 3

Part III

Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 16.

Part III can be duplicated if additional space is needed.

	(b) Region	(c) Number of recipients	(d) Amount of cash grant	(e) Manner of cash disbursement
Graduate Student Stipend Grants	East Asia and the Pacific	23	129,519	EFT OR CHECK
Graduate Student Stipend Grants	Europe (Including Iceland and Greenland)	8	15,350	EFT OR CHECK
Graduate Student Stipend Grants	Middle East and North Africa	23	112,220	EFT OR CHECK
Graduate Student Stipend Grants	North America (Canada & Mexico only)	8	14,074	EFT OR CHECK
Graduate Student Stipend Grants	South America	1	3,000	EFT OR CHECK
Graduate Student Stipend Grants	South Asia	5	17,070	EFT OR CHECK
Graduate Student Stipend Grants	Sub-Saharan Africa	1	11,250	EFT OR CHECK
Stipends for Post Doctoral Students and Fellows	East Asia and the Pacific	1	14,000	EFT OR CHECK
Stipends for Post Doctoral Students and Fellows	Europe (Including Iceland and Greenland)	17	637,300	EFT OR CHECK
Stipends for Post Doctoral Students and Fellows	North America (Canada & Mexico only)	1	880	EFT OR CHECK
Stipends for Post Doctoral Students and Fellows	Russia and Neighboring States	1	20,400	EFT OR CHECK
Stipends for Post Doctoral Students and Fellows	South America	1	53,000	EFT OR CHECK
Stipends for Post Doctoral Students and Fellows	South Asia	3	8,130	EFT OR CHECK
Grants and Awards to Non Harvard Students	Central America and the Caribbean	3	6,800	EFT OR CHECK
Grants and Awards to Non Harvard Students	East Asia and the Pacific	9	58,209	EFT OR CHECK
Grants and Awards to Non Harvard Students	Europe (Including Iceland and Greenland)	46	1,626,439	EFT OR CHECK
Grants and Awards to Non Harvard Students	Middle East and North Africa	2	32,000	EFT OR CHECK
Grants and Awards to Non Harvard Students	North America (Canada & Mexico only)	15	125,000	EFT OR CHECK
Grants and Awards to Non Harvard Students	Russia and Neighboring States	1	11,360	EFT OR CHECK
Grants and Awards to Non Harvard Students	South America	12	19,646	EFT OR CHECK
Grants and Awards to Non Harvard Students	South Asia	5	5,500	EFT OR CHECK
Grants and Awards to Non Harvard Students	Sub-Saharan Africa	5	47,270	EFT OR CHECK
Student Prizes and Awards	East Asia and the Pacific	19	44,889	EFT OR CHECK
Student Prizes and Awards	Europe (Including Iceland and Greenland)	31	95,151	EFT OR CHECK
Student Prizes and Awards	Middle East and North Africa	10	50,441	EFT OR CHECK
Student Prizes and Awards	North America (Canada & Mexico only)	37	74,083	EFT OR CHECK
Student Prizes and Awards	Russia and Neighboring States	1	1,200	EFT OR CHECK
Student Prizes and Awards	South America	2	8,015	EFT OR CHECK
Student Prizes and Awards	South Asia	9	25,055	EFT OR CHECK
Student Prizes and Awards	Sub-Saharan Africa	5	8,260	EFT OR CHECK
Other Undergraduate Grants Prizes and Awards	East Asia and the Pacific	4	9,040	EFT OR CHECK
Other Undergraduate Grants Prizes and Awards	Europe (Including Iceland and Greenland)	4	244,971	EFT OR CHECK
Other Undergraduate Grants Prizes and Awards	Middle East and North Africa	3	11,500	EFT OR CHECK
Other Undergraduate Grants Prizes and Awards	North America (Canada & Mexico only)	3	4,520	EFT OR CHECK
Other Undergraduate Grants Prizes and Awards	South Asia	1	2,500	EFT OR CHECK
Other Undergraduate Grants Prizes and Awards	Sub-Saharan Africa	1	5,000	EFT OR CHECK
Student Loan Repayment Programs and Forgiven Loans	Central America and the Caribbean	2	15,863	EFT OR CHECK
Student Loan Repayment Programs and Forgiven Loans	East Asia and the Pacific	15	95,401	EFT OR CHECK
Student Loan Repayment Programs and Forgiven Loans	Europe (Including Iceland and Greenland)	16	106,634	EFT OR CHECK
Student Loan Repayment Programs and Forgiven Loans	Middle East and North Africa	3	26,962	EFT OR CHECK
Student Loan Repayment Programs and Forgiven Loans	North America (Canada & Mexico only)	12	123,199	EFT OR CHECK
Student Loan Repayment Programs and Forgiven Loans	Russia and Neighboring States	6	8,631	EFT OR CHECK
Student Loan Repayment Programs and Forgiven Loans	South America	11	65,604	EFT OR CHECK
Student Loan Repayment Programs and Forgiven Loans	South Asia	26	102,452	EFT OR CHECK
Student Loan Repayment Programs and Forgiven Loans	Sub-Saharan Africa	5	56,035	EFT OR CHECK

Schedule F (Form 990) 2014

Page 4

Part IV

Foreign Forms

Schedule F (Form 990) 2014

Page 5

Part V

Supplemental Information
Provide the information required by Part I, line 2 (monitoring of funds); Part I, line 3, column (f) (accounting method; amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part III (accounting method); and Part III, column (c) (estimated number of recipients), as applicable. Also complete this part to provide any additional information (see instructions).

ReturnReference	Explanation
Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds	ALL DISBURSEMENTS MADE BY THIS INSTITUTION IN FURTHERANCE OF ITS EXEMPT PROGRAMS ARE REVIEWED AND APPROVED BY DULY AUTHORIZED COMMITTEES OR INDIVIDUALS. ALL SCHOLARSHIPS AND STUDENT LOANS ARE REVIEWED AND APPROVED BY HARVARD'S FINANCIAL AID OFFICES. IN ADDITION, HARVARD UNIVERSITY IS RESPONSIBLE FOR THE PROGRAMMATIC AND FINANCIAL MONITORING OF ITS SPONSORED RESEARCH AWARD SUBRECIPIENTS. PRINCIPAL INVESTIGATORS AND PROJECT STAFF PERFORM ONGOING REVIEWS OF PROJECT ACTIVITIES. IN ADDITION, ON AN ANNUAL BASIS, UNIVERSITY RESEARCH ADMINISTRATORS REVIEW ALL ACTIVE SUBCONTRACTS AND INQUIRE FURTHER INTO THOSE THAT ARE DEEMED TO REQUIRE CLOSER SCRUTINY IN LIGHT OF A VARIETY OF ATTRIBUTES. UPON IDENTIFICATION OF SUBRECIPIENTS THAT MANDATE CLOSER SCRUTINY, HARVARD IMPLEMENTS ADDITIONAL MONITORING ACTIONS TO ENSURE COMPLIANCE WITH SUBAGREEMENT PERFORMANCE, FINANCIAL TERMS AND CONDITIONS, AND WITH ALL APPLICABLE FEDERAL RULES AND REGULATIONS.
Schedule F, Part I FOREIGN ACTIVITY	AMOUNTS REPORTED ARE ESTIMATED BASED ON THE BEST AVAILABLE DATA. UNIVERSITY ACTIVITIES INCLUDE ACADEMIC SUPPORT, INSTITUTIONAL SUPPORT, INSTRUCTION, RESEARCH AND OTHER ACADEMIC ACTIVITY, SERVICE CENTERS, AND STUDENT SERVICES.
Schedule F, Part III GRANTS TO INDIVIDUALS	AMOUNTS AND NUMBER OF RECIPIENTS LISTED ARE ESTIMATES BASED ON THE BEST AVAILABLE DATA.
Schedule F, Part I, Line 2 PROCEDURES FOR MONITORING USE OF GRANT FUNDS	ALL DISBURSEMENTS MADE BY THIS INSTITUTION IN FURTHERANCE OF ITS EXEMPT PROGRAMS ARE REVIEWED AND APPROVED BY DULY AUTHORIZED COMMITTEES OR INDIVIDUALS. ALL SCHOLARSHIPS AND STUDENT LOANS ARE REVIEWED AND APPROVED BY HARVARD'S FINANCIAL AID OFFICES. IN ADDITION, HARVARD UNIVERSITY IS RESPONSIBLE FOR THE PROGRAMMATIC AND FINANCIAL MONITORING OF ITS SPONSORED RESEARCH AWARD SUBRECIPIENTS. PRINCIPAL INVESTIGATORS AND PROJECT STAFF PERFORM ONGOING REVIEWS OF PROJECT ACTIVITIES. IN ADDITION, ON AN ANNUAL BASIS, UNIVERSITY RESEARCH ADMINISTRATORS REVIEW ALL ACTIVE SUBCONTRACTS AND INQUIRE FURTHER INTO THOSE THAT ARE DEEMED TO REQUIRE CLOSER SCRUTINY IN LIGHT OF A VARIETY OF ATTRIBUTES. UPON IDENTIFICATION OF SUBRECIPIENTS THAT MANDATE CLOSER SCRUTINY, HARVARD IMPLEMENTS ADDITIONAL MONITORING ACTIONS TO ENSURE COMPLIANCE WITH SUBAGREEMENT PERFORMANCE, FINANCIAL TERMS AND CONDITIONS, AND WITH ALL APPLICABLE FEDERAL RULES AND REGULATIONS.

Schedule F (Form 990) 2014

Additional Data

Software ID:	14000329
Software Version:	2014v1.0

- TIN:

SCHEDULE G (Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information Regarding
Fundraising or Gaming Activities

Complete if the organization answered "Yes" to Form 990, Part IV, lines 17, 18, or 19, or if the organization entered more than $15,000 on Form 990-EZ, line 6a. right arrow

Attach to Form 990 or Form 990-EZ.
right arrow

Information about Schedule G (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization
President and Fellows of Harvard College

Employer identification number

04-2103580

Part I

Fundraising Activities. Complete if the organization answered "Yes" to Form 990, Part IV, line 17. Form 990-EZ

filers are not required to complete this part.

Indicate whether the organization raised funds through any of the following activities. Check all that apply.

a	Mail solicitations	e	Solicitation of non-government grants
b	Internet and email solicitations	f	Solicitation of government grants
c	Phone solicitations	g	Special fundraising events
d	In-person solicitations

Did the organization have a written or oral agreement with any individual (including officers, directors, trustees

or key employees listed in Form 990, Part VII) or entity in connection with professional fundraising services?

Yes

If "Yes," list the ten highest paid individuals or entities (fundraisers) pursuant to agreements under which the fundraiser is
to be compensated at least $5,000 by the organization.

(i) Name and address of individual or entity (fundraiser)		(ii) Activity	(iii) Did fundraiser have custody or control of contributions?		(iv) Gross receipts from activity	(v) Amount paid to (or retained by) fundraiser listed in col. (i)	(vi) Amount paid to (or retained by) organization
			Yes	No
	ANNE LOCKETT ENTERPRISES	PRIN. GIFTS		No	42,958,994	312,015	42,646,979
	DANILLER AND CO 3724 JEFFERSON ST AUSTIN, TX78731	DIRECT MAIL		No	367,800	74,720	293,080
	LESTER INC 19 BUSINESS PARK DR BRANFORD, CT06405	PHONE SOLICITATION		No	181,562	30,609	150,953
	JOHN BROWN LIMITED INC PO BOX 296 PETERBOROUGH, NH03458	CONSULTING		No	0	328,222	-328,222
	ROMASH COMMUNICATIONS 1004 HIGHLAND DR SILVER SPRING, MD20910	CONSULTING		No	0	129,896	-129,896
	KEENAN ASSOCIATES 216 NESMITH ST LOWELL, MA01852	CONSULTING		No	0	70,741	-70,741
	GREENBERG QUINLAN ROSNER RESEARCH 10 G ST NE STE 500 WASHINGTON, DC20002	RESEARCH		No	0	62,597	-62,597
	ANNE T NEWMAN 48 QUINCY ST CAMBRIDGE, MA02138	PREPARATION OF MATERIALS		No	0	61,930	-61,930
	MARTS AND LUNDY INC 1200 WALL ST W LYNDHURST, NJ07071	COMMUNICATIONS		No	0	53,768	-53,768
	HURON CONSULTING GROUP INC 124 MOUNT AUBURN ST CAMBRIDGE, MA02138	CONSULTING		No	0	51,294	-51,294
Total .................					43,508,356	1,175,792	42,332,564

List all states in which the organization is registered or licensed to solicit contributions or has been notified it is exempt from registration or licensing.

CA, IL, MA

For Paperwork Reduction Act Notice, see the Instructions for Form 990or 990-EZ.

Cat. No. 50083H

Schedule G (Form 990 or 990-EZ) 2014

Page 2

Part II

Fundraising Events. Complete if the organization answered "Yes" to Form 990, Part IV, line 18, or reported more than $15,000 of fundraising event contributions and gross income on Form 990-EZ, lines 1 and 6b. List events with gross receipts greater than $5,000.

			(a) Event #1 (event type)	(b) Event #2 (event type)	(c) Other events (total number)	(d) Total events (add col. (a) through col. (c))
	1	Gross receipts . . .
	2	Less: Contributions . .
	3	Gross income (line 1 minus line 2) . . .
	4	Cash prizes . . .
	5	Noncash prizes . .
	6	Rent/facility costs . .
	7	Food and beverages .
	8	Entertainment . . .
	9	Other direct expenses .
	10	Direct expense summary. Add lines 4 through 9 in column (d) ...........
	11	Net income summary. Subtract line 10 from line 3, column (d)...........

Part III

Gaming. Complete if the organization answered "Yes" to Form 990, Part IV, line 19, or reported more than $15,000 on Form 990-EZ, line 6a.

(a) Bingo

(b) Pull tabs/Instant
bingo/progressive bingo

(c) Other gaming

(d) Total gaming (add col.(a) through col.(c))

Gross revenue . . . .

Cash prizes . . . .

Non-cash prizes . . .

Rent/facility costs . . .

Other direct expenses . .

Volunteer labor . . .

	Yes %
	No

	Yes %
	No

	Yes %
	No

Direct expense summary. Add lines 2 through 5 in column (d) ........... right arrow

Net gaming income summary. Subtract line 7 from line 1, column (d) ......... right arrow

Enter the state(s) in which the organization conducts gaming activities:

Is the organization licensed to conduct gaming activities in each of these states? ............

YesNo

If "No," explain:

10a

Were any of the organization's gaming licenses revoked, suspended or terminated during the tax year? .....

YesNo

If "Yes," explain:

Schedule G (Form 990 or 990-EZ) 2014

Page 3

Does the organization conduct gaming activities with nonmembers? .................

YesNo

Is the organization a grantor, beneficiary or trustee of a trust or a member of a partnership or other entity

formed to administer charitable gaming? ..........................

YesNo

Indicate the percentage of gaming activities conducted in:

The organization's facility ......................

13a

An outside facility ........................

13b

Enter the name and address of the person who prepares the organization's gaming/special events books and records:

Name

Address

15a

Does the organization have a contract with a third party from whom the organization receives gaming

revenue? ......................................

YesNo

If "Yes," enter the amount of gaming revenue received by the organization right arrow

$ and the

amount of gaming revenue retained by the third party right arrow

If "Yes," enter name and address of the third party:

Name

Address

Gaming manager information:

Name

Gaming manager compensation right arrow

Description of services provided right arrow

Director/officer Employee Independent contractor

Mandatory distributions:

Is the organization required under state law to make charitable distributions from the gaming proceeds to

retain the state gaming license? ............................

YesNo

Enter the amount of distributions required under state law distributed to other exempt organizations or spent

in the organization's own exempt activities during the tax year right arrow

Part IV

Supplemental Information. Provide the explanations required by Part I, line 2b, columns (iii) and (v), and Part III, lines 9, 9b, 10b, 15b, 15c, 16, and 17b, as applicable. Also provide any additional information (see instructions).

Return Reference

Explanation

Schedule G, Part I, Line 2b(iv) GROSS RECEIPTS FROM ACTIVITY

THE FUNDRAISING EFFORT IS A LONG TERM EFFORT OFTEN SPANNING YEARS AND DECADES TO BRING IN ONE GIFT. THE TOTAL LISTED HERE IS FOR CASH RECEIVED IN FY15, BUT THE DONOR(S) MAY HAVE MADE THE ORIGINAL PLEDGE(S) IN PRIOR YEARS. THE PROFESSIONAL FUNDRAISING SERVICES DETAILED IN LINE 2B, ACTIVITIES 4 THROUGH 10 ARE FOR CONSULTATION, COMMUNICATIONS AND PREPARATION OF MATERIALS FOR GENERAL FUNDRAISING ACTIVITIES. THE SERVICES ARE NOT PROVIDED FOR A SPECIFIC EVENT OR ACTIVITY IN WHICH THERE IS A DIRECT CONNECTION BETWEEN THE FUNDRAISING ACTIVITY AND THE DONATIONS RECEIVED.

Schedule G (Form 990 or 990-EZ) 2014

Additional Data

Software ID:	14000329
Software Version:	2014v1.0

- TIN:

Schedule I
(Form 990)

Department of the Treasury
Internal Revenue Service

Grants and Other Assistance to Organizations,
Governments and Individuals in the United States

Complete if the organization answered "Yes," to Form 990, Part IV, line 21 or 22.
lBullet

Attach to Form 990.
lBullet

Information about Schedule I (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public
Inspection

Name of the organization
President and Fellows of Harvard College

Employer identification number
04-2103580

Part I

General Information on Grants and Assistance

Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ....................................

Yes No

Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.

Part II

Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" to
Form 990, Part IV, line 21, for any recipient that received more than $5,000. Part II can be duplicated if additional space is needed.

(a) Name and address of organization or government	(b) EIN	(c) IRC section if applicable	(d) Amount of cash grant	(h) Purpose of grant or assistance
(1) BRIGHAM AND WOMEN'S HOSPITAL 75 FRANCIS ST BOSTON,MA02115	04-2312909	IRC 501(C)(3)	13,788,260	SPONSORED RESEARCH SUB-AWARD
(2) MASSACHUSETTS GENERAL HOSPITAL 55 FRUIT ST BOSTON,MA02114	04-1564655	IRC 501(C)(3)	11,828,904	SPONSORED RESEARCH SUB-AWARD
(3) FRONTIER SCIENCE TECH RESEARCH FDN INC 4033 MAPLE RD AMHERST,NY14226	16-1056814	IRC 501(C)(3)	10,986,502	SPONSORED RESEARCH SUB-AWARD
(4) CHILDREN'S HOSPITAL CORP 300 LONGWOOD AVE BOSTON,MA02115	04-2774441	IRC 501(C)(3)	6,084,864	SPONSORED RESEARCH SUB-AWARD
(5) DANA-FARBER CANCER INST 450 BROOKLINE AVE BP418 BOSTON,MA02215	04-2263040	IRC 501(C)(3)	6,084,272	SPONSORED RESEARCH SUB-AWARD
(6) BETH ISRAEL DEACONESS MEDICAL CTR 330 BROOKLINE AVE BOSTON,MA02215	04-2103881	IRC 501(C)(3)	4,251,271	SPONSORED RESEARCH SUB-AWARD
(7) THE BROAD INST 320 CHARLES ST CAMBRIDGE,MA02141	26-3428781	IRC 501(C)(3)	2,915,065	SPONSORED RESEARCH SUB-AWARD
(8) CITY OF BOSTON ONE CITY HALL SQ BOSTON,MA02201		GOVERNMENTAL UNIT	2,742,000	COMMUNITY GIFTS & CHARITABLE CONTRIBUTIONS
(9) MASSACHUSETTS INST OF TECHNOLOGY 77 MASS AVE NE49-3142 CAMBRIDGE,MA02139	04-2103594	IRC 501(C)(3)	2,516,135	SPONSORED RESEARCH SUB-AWARD
(10) AKONNI BIOSYSTEMS INC 400 SAGNER AVE STE 300 FREDERICK,MD21701	16-1664925	NOT EXEMPT	2,299,534	SPONSORED RESEARCH SUB-AWARD
(11) UNIVERSITY OF SOUTHERN CALIFORNIA UNIVERSITY GARDENS-UGB 203 LOS ANGELES,CA90089	95-1642394	IRC 501(C)(3)	2,058,083	SPONSORED RESEARCH SUB-AWARD
(12) BOSTON REDEVELOPMENT AUTHORITY ONE CITY HALL 9TH FL BOSTON,MA02201		GOVERNMENTAL UNIT	1,711,500	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(13) REGENTS OF THE UNIVERSITY OF CALIFORNIA - SAN DIEGO 9500 GILMAN DR LA JOLLA,CA92093	95-6006144	IRC 501(C)(3)	1,684,980	SPONSORED RESEARCH SUB-AWARD
(14) JOHNS HOPKINS UNIVERSITY 3910 KESWICK RD STE N5100 BALTIMORE,MD21211	52-0595110	IRC 501(C)(3)	1,607,335	SPONSORED RESEARCH SUB-AWARD
(15) COMMUNITIES IN SCHOOLS OF NORTH CAROLINA 222 NORTH PERSON ST STE 102 RALEIGH,NC27601	56-1677831	IRC 501(C)(3)	1,237,134	SPONSORED RESEARCH SUB-AWARD
(16) TEXAS A&M UNIVERSITY 3000 BRIARCREST DR STE 101 BRYAN,TX77802	74-2648747	IRC 115	1,214,490	SPONSORED RESEARCH SUB-AWARD
(17) REGENTS OF THE UNIVERSITY OF MICHIGAN 500 S STATE ST ANN ARBOR,MI48109	38-6006309	IRC 501(C)(3)	1,132,674	SPONSORED RESEARCH SUB-AWARD
(18) POPULATION SERVICES INTERNATIONAL 1120 19TH ST NW STE 600 WASHINGTON,DC20036	56-0942853	IRC 501(C)(3)	1,125,744	SPONSORED RESEARCH SUB-AWARD
(19) GIRAFFE RANCH LLC 38650 MICKLER RD DADE CITY,FL33523		NOT EXEMPT	1,111,438	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(20) TOPCODER INC 95 GLASTONBURY BLVD GLASTONBURY,CT06033	06-1593607	NOT EXEMPT	1,100,052	SPONSORED RESEARCH SUB-AWARD
(21) BOSTON PUBLIC SCHOOLS 26 COURT ST 5TH FL BOSTON,MA02108		GOVERNMENTAL UNIT	1,063,961	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(22) ANN AND ROBERT H LURIE CHILDREN'S HOSPITAL OF CHICAGO 225 E CHICAGO AVE CHICAGO,IL60611	36-2170833	IRC 501(C)(3)	1,044,830	SPONSORED RESEARCH SUB-AWARD
(23) ST JUDE CHILDREN'S RESEARCH HOSPITAL 501 ST JUDE PL MEMPHIS,TN38105	62-0646012	IRC 501(C)(3)	947,446	SPONSORED RESEARCH SUB-AWARD
(24) YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT06520	91-1864328	IRC 501(C)(3)	922,366	SPONSORED RESEARCH SUB-AWARD
(25) UNIVERSITY OF MEDICINE AND DENTISTRY OF NEW JERSEY 185 SOUTH ORANGE AVE NEWARK,NJ07103	22-1775306	IRC 115	898,866	SPONSORED RESEARCH SUB-AWARD
(26) TRUSTEES OF DARTMOUTH COLLEGE 7 LEBANON ST STE 302 HANOVER,NH03755	02-0222111	IRC 501(C)(3)	861,630	SPONSORED RESEARCH SUB-AWARD
(27) UNIVERSITY OF FLORIDA 219 GRINTER HALL BOX 115500 GAINESVILLE,FL32605	59-6002052	IRC 115	827,247	SPONSORED RESEARCH SUB-AWARD
(28) SMITHSONIAN ASTROPHYSICAL OBSERVATORY 60 GARDEN ST MS23 CAMBRIDGE,MA02138		GOVERNMENTAL UNIT	824,097	SPONSORED RESEARCH SUB-AWARD
(29) UNIVERSITY OF PITTSBURGH 116 ATWOOD ST STE 201 PITTSBURGH,PA15260	25-0965591	IRC 501(C)(3)	818,420	SPONSORED RESEARCH SUB-AWARD
(30) BRONX-LEBANON HOSPITAL CTR 1276 FULTON AVE BRONX,NY10456	13-1974191	IRC 501(C)(3)	811,015	SPONSORED RESEARCH SUB-AWARD
(31) BRANDEIS UNIVERSITY 415 SOUTH ST MS NO 116 WALTHAM,MA02454	04-2103552	IRC 501(C)(3)	799,315	SPONSORED RESEARCH SUB-AWARD
(32) WEILL MEDICAL COLLEGE OF CORNELL UNIVERSITY 1300 YORK AVE NEW YORK,NY10065	15-0532082	IRC 501(C)(3)	753,502	SPONSORED RESEARCH SUB-AWARD
(33) CALIFORNIA INST OF TECHNOLOGY 1200 E CALIFORNIA BLVD PASADENA,CA91125	95-1643307	IRC 501(C)(3)	739,585	SPONSORED RESEARCH SUB-AWARD
(34) INDIANA UNIVERSITY 400 E 7TH ST POPLARS RM 501 BLOOMINGTON,IN47405	35-6001673	IRC 501(C)(3)	737,888	SPONSORED RESEARCH SUB-AWARD
(35) COLUMBIA UNIVERSITY 1210 AMSTERDAM AVE MAIL CODE 2205 NEW YORK,NY10027	13-5598093	IRC 501(C)(3)	730,630	SPONSORED RESEARCH SUB-AWARD
(36) BAYLOR COLLEGE OF MEDICINE ONE BAYLOR PLAZA HOUSTON,TX77030	74-1613878	IRC 501(C)(3)	720,630	SPONSORED RESEARCH SUB-AWARD
(37) UNIVERSITY OF MIAMI PO BOX 248106 CORAL GABLES,FL33124	59-0624458	IRC 501(C)(3)	710,780	SPONSORED RESEARCH SUB-AWARD
(38) JSI - JOHN SNOW RESEARCH AND TRAINING INST INC 44 FARNSWORTH ST BOSTON,MA02210	04-2679824	IRC 501(C)(3)	701,909	SPONSORED RESEARCH SUB-AWARD
(39) WESTAT CORP 1600 RESEARCH BLVD ROCKVILLE,MD20850	84-0529566	NOT EXEMPT	691,129	SPONSORED RESEARCH SUB-AWARD
(40) STANFORD UNIVERSITY 3145 PORTER DR PALO ALTO,CA94304	94-1156365	IRC 501(C)(3)	672,438	SPONSORED RESEARCH SUB-AWARD
(41) THE RESEARCH FDN OF STATE UNIVERSITY OF NEW YORK PO BOX 9 ALBANY,NY12201	14-1368361	IRC 501(C)(3)	666,295	SPONSORED RESEARCH SUB-AWARD
(42) HOWARD UNIVERSITY 2400 6TH ST NW WASHINGTON,DC20059	53-0204707	IRC 501(C)(3)	653,475	SPONSORED RESEARCH SUB-AWARD
(43) REGENTS OF THE UNIVERSITY OF MINNESOTA 1300 S 2ND ST STE 206 MINNEAPOLIS,MN55454	41-6007513	IRC 501(C)(3)	630,779	SPONSORED RESEARCH SUB-AWARD
(44) UNIVERSITY OF MASSACHUSETTS 140 HICKS WAY AMHERST,MA01003	04-3167352	IRC 115	621,586	SPONSORED RESEARCH SUB-AWARD
(45) UNIVERSITY OF COLORADO 1201 LARIMER ST DENVER,CO80203	84-6000555	IRC 501(C)(3)	615,935	SPONSORED RESEARCH SUB-AWARD
(46) TULANE UNIVERSITY 6823 ST CHARLES AVE NEW ORLEANS,LA70118	72-0423889	IRC 501(C)(3)	610,348	SPONSORED RESEARCH SUB-AWARD
(47) UNIVERSITY OF ILLINOIS 801 W TAYLOR ST RM 2236 CHICAGO,IL60607	37-6000511	IRC 115	601,217	SPONSORED RESEARCH SUB-AWARD
(48) VANDERBILT UNIVERSITY 2301 VANDERBILT PL NASHVILLE,TN37240	62-0476822	IRC 501(C)(3)	598,804	SPONSORED RESEARCH SUB-AWARD
(49) UNIVERSITY OF WASHINGTON 3917 UNIVERSITY WAY NE BOX 351122 SEATTLE,WA98105	91-6001537	IRC 115	591,089	SPONSORED RESEARCH SUB-AWARD
(50) EMORY UNIVERSITY 1762 CLIFTON RD STE 1400 ATLANTA,GA30322	58-0566256	IRC 501(C)(3)	578,001	SPONSORED RESEARCH SUB-AWARD
(51) NORTHEASTERN UNIVERSITY 360 HUNTINGTON AVE BOSTON,MA02115	04-1679980	IRC 501(C)(3)	574,891	SPONSORED RESEARCH SUB-AWARD
(52) NEW YORK UNIVERSITY 105 EAST 17TH ST 4TH FL NEW YORK,NY10003	13-5562308	IRC 501(C)(3)	562,465	SPONSORED RESEARCH SUB-AWARD
(53) MOUNT SINAI HOSPITAL ONE GUSTAVE L LEVY PL NEW YORK,NY10029	13-1624096	IRC 501(C)(3)	522,248	SPONSORED RESEARCH SUB-AWARD
(54) TUFTS UNIVERSITY 169 HOLLAND ST SOMERVILLE,MA02144	04-2103634	IRC 501(C)(3)	519,358	SPONSORED RESEARCH SUB-AWARD
(55) CHILDREN'S DIAGNOSTIC AND TREATMENT CTR INC 1401 S FEDERAL HWY FORT LAUDERDALE,FL33316	65-1026739	IRC 501(C)(3)	466,619	SPONSORED RESEARCH SUB-AWARD
(56) RESULTS FOR DEVELOPMENT INST 1100 15TH ST NW STE 400 WASHINGTON,DC20005	20-8530747	IRC 501(C)(3)	458,533	SPONSORED RESEARCH SUB-AWARD
(57) TRUSTEES OF BOSTON UNIVERSITY 25 BUICK ST BOSTON,MA02215	04-2103547	IRC 501(C)(3)	451,688	SPONSORED RESEARCH SUB-AWARD
(58) DUKE UNIVERSITY 324 BLACKWELL ST STE 850 DURHAM,NC27701	56-0532129	IRC 501(C)(3)	445,635	SPONSORED RESEARCH SUB-AWARD
(59) PRINCETON UNIVERSITY 701 CARNEGIE CTR STE 445 PRINCETON,NJ08540	21-0634501	IRC 501(C)(3)	432,822	SPONSORED RESEARCH SUB-AWARD
(60) REGENTS OF THE UNIVERSITY OF NEW MEXICO ONE UNIVERSITY OF NEW MEXICO ALBUQUERQUE,NM87131	85-6000642	IRC 501(C)(3)	429,498	SPONSORED RESEARCH SUB-AWARD
(61) JUNGLE FRIENDS PRIMATE SANCTUARY 13915 NORTH STATE RD GAINESVILLE,FL32653	86-0859789	IRC 501(C)(3)	424,439	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(62) REGENTS OF THE UNIVERSITY OF CALIFORNIA SAN FRANCISCO UCSF BOX 0248 SAN FRANCISCO,CA94143	94-6036493	IRC 501(C)(3)	379,573	SPONSORED RESEARCH SUB-AWARD
(63) SUSTAINABLE INNOVATIONS LLC 160 OAK ST UNIT 412 GLASTONBURY,CT06033	04-1645622	NOT EXEMPT	366,142	SPONSORED RESEARCH SUB-AWARD
(64) LAWRENCE BERKELEY NATIONAL LAB ONE CYCLOTRON RD MS 971-SP BERKELEY,CA94720	94-2951741	IRC 501(C)(3)	355,051	SPONSORED RESEARCH SUB-AWARD
(65) JACOBI MEDICAL CTRNORTH BRONX HEALTHCARE NETWORK 1400 PELHAM PKWY SOUTH BRONX,NY10461	13-1849594	IRC 501(C)(3)	335,600	SPONSORED RESEARCH SUB-AWARD
(66) HARVARD PILGRIM HEALTH CARE INC 93 WORCESTER ST STE 100 WELLESLEY,MA02481	04-2452600	IRC 501(C)(3)	321,440	SPONSORED RESEARCH SUB-AWARD
(67) THE FORSYTH INST 245 FIRST ST CAMBRIDGE,MA02142	04-2104230	IRC 501(C)(3)	308,481	SPONSORED RESEARCH SUB-AWARD
(68) MUSEUM OF SCIENCE ONE SCIENCE PARK BOSTON,MA02114	04-2103916	IRC 501(C)(3)	297,343	SPONSORED RESEARCH SUB-AWARD
(69) PARTNERS IN HEALTH PO BOX 845578 BOSTON,MA02284	04-3567502	IRC 501(C)(3)	291,842	SPONSORED RESEARCH SUB-AWARD
(70) WASHINGTON UNIVERSITY 700 ROSEDALE AVE ST LOUIS,MO63112	43-0653611	IRC 501(C)(3)	291,413	SPONSORED RESEARCH SUB-AWARD
(71) WAYNE STATE UNIVERSITY 5700 CASS AVE STE 4900 DETROIT,MI48202	38-6028429	IRC 501(C)(3)	284,919	SPONSORED RESEARCH SUB-AWARD
(72) UNIVERSITY OF PUERTO RICO PO BOX 363682 SAN JUAN,PR00936	66-0433761	EXEMPT	274,282	SPONSORED RESEARCH SUB-AWARD
(73) SAN JUAN CITY HOSPITAL PO BOX 70344 SAN JUAN,PR00936		EXEMPT	268,555	SPONSORED RESEARCH SUB-AWARD
(74) MARINE BIOLOGICAL LABORATORY 7 MBL ST WOODS HOLE,MA02543	04-2104690	IRC 501(C)(3)	266,556	SPONSORED RESEARCH SUB-AWARD
(75) CITY OF CAMBRIDGE 795 MASS AVE CAMBRIDGE,MA02139		GOVERNMENTAL UNIT	254,500	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(76) BOARD OF TRUSTEES OF THE UNIV OF AL BIRMINGHAM 1530 3RD AVE SOUTH BIRMINGHAM,AL35294	63-6001138	IRC 501(C)(3)	252,854	SPONSORED RESEARCH SUB-AWARD
(77) MICHIGAN STATE UNIVERSITY 426 AUDITORIUM RD RM 350 EAST LANSING,MI48824	38-6005984	IRC 115	250,366	SPONSORED RESEARCH SUB-AWARD
(78) CAMBRIDGE MEDICAL CARE FDN 1493 CAMBRIDGE ST CAMBRIDGE,MA02139	04-2752962	IRC 501(C)(3)	246,284	SPONSORED RESEARCH SUB-AWARD
(79) UNIVERSITY OF TEXAS HEALTH SCIENCE CTR AT HOUSTON 7000 FANNIN ST STE 1200 HOUSTON,TX77030	74-1761309	IRC 501(C)(3)	245,425	SPONSORED RESEARCH SUB-AWARD
(80) BROWN UNIVERSITY 164 ANGELL ST PO BOX 1929 PROVIDENCE,RI02912	05-0258809	IRC 501(C)(3)	238,893	SPONSORED RESEARCH SUB-AWARD
(81) DREXEL UNIVERSITY 3141 CHESTNUT ST PHILADELPHIA,PA19104	23-1352630	IRC 501(C)(3)	227,037	SPONSORED RESEARCH SUB-AWARD
(82) DURHAM PUBLIC SCHOOLS 511 CLEVELAND ST DURHAM,NC27702		GOVERNMENTAL UNIT	217,201	SPONSORED RESEARCH SUB-AWARD
(83) BOSTON MEDICAL CTR ONE BOSTON MEDICAL CTR PL BOSTON,MA02118	04-3314093	IRC 501(C)(3)	213,305	SPONSORED RESEARCH SUB-AWARD
(84) GEORGIA INST OF TECHNOLOGYGEORGIA TECH RES CORP 500 TECH PKWY ATLANTA,GA30332	58-6002023	IRC 501(C)(3)	204,453	SPONSORED RESEARCH SUB-AWARD
(85) UASPIRE 31 ST JAMES AVE STE 520 BOSTON,MA02116	04-3564307	IRC 501(C)(3)	201,219	SPONSORED RESEARCH SUB-AWARD
(86) NORTHWESTERN UNIVERSITY 633 CLARK ST EVANSTON,IL60208	36-2167817	IRC 501(C)(3)	197,945	SPONSORED RESEARCH SUB-AWARD
(87) HARVARD PILGRIM HEALTH CARE FDN 93 WORCESTER ST STE 100 WELLESLEY,MA02481	04-2708004	IRC 501(C)(3)	191,378	SPONSORED RESEARCH SUB-AWARD
(88) DANA-FARBERPARTNERS CANCER CARE INC 450 BROOKLINE AVE BP371 BOSTON,MA02215	04-3554536	IRC 501(C)(3)	173,796	SPONSORED RESEARCH SUB-AWARD
(89) UNIVERSITY OF PENNSYLVANIA 3451 WALNUT ST PHILADELPHIA,PA19104	23-1352685	IRC 501(C)(3)	173,598	SPONSORED RESEARCH SUB-AWARD
(90) MATHEMATICA POLICY RESEARCH INC PO BOX 2393 PRINCETON,NJ08543	22-2112296	NOT EXEMPT	168,551	SPONSORED RESEARCH SUB-AWARD
(91) REGENTS OF THE UNIVERSITY OF CALIFORNIA DAVIS ONE SHIELDS AVE DAVIS,CA95616	94-6036494	IRC 501(C)(3)	162,868	SPONSORED RESEARCH SUB-AWARD
(92) UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL 104 AIRPORT DR STE 3600 CHAPEL HILL,NC27599	56-6001393	IRC 501(C)(3)	157,217	SPONSORED RESEARCH SUB-AWARD
(93) WAKE FOREST UNIVERSITY PO BOX 7201 WINSTONSALEM,NC27109	56-0532138	IRC 501(C)(3)	153,478	SPONSORED RESEARCH SUB-AWARD
(94) URBAN INST 2100 M ST NW WASHINGTON,DC20037	52-0880375	IRC 501(C)(3)	150,339	SPONSORED RESEARCH SUB-AWARD
(95) PENNSYLVANIA STATE UNIVERSITY 500 UNIVERSITY DR HERSHEY,PA17033	24-6000376	IRC 115	149,450	SPONSORED RESEARCH SUB-AWARD
(96) GEORGETOWN UNIVERSITY PO BOX 571168 37 AND O ST NW WASHINGTON,DC20057	53-0196603	IRC 501(C)(3)	149,290	SPONSORED RESEARCH SUB-AWARD
(97) INVENIO IMAGING INC 1600 ADAMS DR MENLO PARK,CA94025		NOT EXEMPT	147,696	SPONSORED RESEARCH SUB-AWARD
(98) JOSLIN DIABETES CTR INC ONE JOSLIN PL BOSTON,MA02215	04-2203836	IRC 501(C)(3)	137,694	SPONSORED RESEARCH SUB-AWARD
(99) GROUP HEALTH COOPERATIVECTR FOR HEALTH STUDIES 320 WESTLAKE AVE N STE 100 SEATTLE,WA98109	91-0511770	IRC 501(C)(3)	131,532	SPONSORED RESEARCH SUB-AWARD
(100) FRED HUTCHINSON CANCER RESEARCH CTR 1100 FAIRVIEW AVE SEATTLE,WA98109	23-7156071	IRC 501(C)(3)	129,381	SPONSORED RESEARCH SUB-AWARD
(101) SWEDISH MEDICAL CTR FDN 747 BROADWAY SEATTLE,WA98122	91-0983214	IRC 501(C)(3)	127,223	SPONSORED RESEARCH SUB-AWARD
(102) BOARD OF REGENTS OF THE UNIV OF AZ MAIN GATE CTR TUCSON,AZ85721	86-0196696	IRC 115	126,644	SPONSORED RESEARCH SUB-AWARD
(103) UNIVERSITY OF MAINE 5717 CORBETT HALL ORONO,ME04469	01-6000769	IRC 501(C)(3)	126,075	SPONSORED RESEARCH SUB-AWARD
(104) MEMORIAL SLOAN KETTERING 1275 YORK AVE NEW YORK,NY10021	13-1924236	IRC 501(C)(3)	124,284	SPONSORED RESEARCH SUB-AWARD
(105) NEW YORK HALL OF SCIENCE 47-01 111TH ST QUEENS,NY11368	11-2104059	IRC 501(C)(3)	123,363	SPONSORED RESEARCH SUB-AWARD
(106) CLOUD FOUNDATION 647 BOYLSTON ST BOSTON,MA02116	22-3681278	IRC 501(C)(3)	119,444	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(107) BOSTON VA RESEARCH INST INC 150 S HUNTINGTON AVE BOSTON,MA02130	04-3081524	IRC 501(C)(3)	117,464	SPONSORED RESEARCH SUB-AWARD
(108) LAHEY CLINIC FDN INC 41 MALL RD BURLINGTON,MA01805	04-2323457	IRC 501(C)(3)	114,724	SPONSORED RESEARCH SUB-AWARD
(109) BALATARIN LLC 4712 ADMIRALTY WAY STE 310 MARINA DEL REY,CA90292		NOT EXEMPT	114,480	SPONSORED RESEARCH SUB-AWARD
(110) FULTON COUNTY SCHOOL SYSTEM 786 CLEVELAND AVE SW ATLANTA,GA30315		GOVERNMENTAL UNIT	114,028	SPONSORED RESEARCH SUB-AWARD
(111) MAYO CLINIC 4500 SAN PABLO RD JACKSONVILLE,FL32224	59-3337028	IRC 501(C)(3)	112,369	SPONSORED RESEARCH SUB-AWARD
(112) REGENTS OF THE UNIVERSITY OF CALIFORNIA AT BERKELEY 2195 HEARST AVE RM 120 BERKELEY,CA94720	94-6002123	IRC 501(C)(3)	105,679	SPONSORED RESEARCH SUB-AWARD
(113) UNITED STATES DEPARTMENT OF AGRICULTURE (USDA) 1400 INDEPENDENCE AV SW WASHINGTON,DC20250		GOVERNMENTAL UNIT	105,495	SPONSORED RESEARCH SUB-AWARD
(114) CINCINNATI CHILDREN'S HOSPITAL MEDICAL CTR 3333 BURNET AVE CINCINNATI,OH45229	31-0833936	IRC 501(C)(3)	104,797	SPONSORED RESEARCH SUB-AWARD
(115) RAND CORP 1700 MAIN ST SANTA MONICA,CA90407	95-1958142	IRC 501(C)(3)	103,476	SPONSORED RESEARCH SUB-AWARD
(116) ATMOSPHERIC & ENVIRONMENTAL RESEARCH INC 131 HARTWELL AVE LEXINGTON,MA02421	04-2608324	NOT EXEMPT	101,766	SPONSORED RESEARCH SUB-AWARD
(117) PURDUE UNIVERSITY 610 PURDUE MALL WEST LAFAYETTE,IN47907	35-6002041	IRC 115	99,391	SPONSORED RESEARCH SUB-AWARD
(118) KAISER PERMANENTE 1800 HARRISON ST 16TH FL OAKLAND,CA94612	94-1340523	IRC 501(C)(3)	98,458	SPONSORED RESEARCH SUB-AWARD
(119) THE MCLEAN HOSPITAL CORP 115 MILL ST BELMONT,MA02478	04-2697981	IRC 501(C)(3)	93,499	SPONSORED RESEARCH SUB-AWARD
(120) UNIVERSITY OF NEW HAMPSHIRE 105 MAIN ST DURHAM,NH03824	02-6000937	IRC 115	92,140	SPONSORED RESEARCH SUB-AWARD
(121) CAMBRIDGE HEALTH ALLIANCE 1493 CAMBRIDGE ST CAMBRIDGE,MA02139	04-3320571	IRC 501(C)(3)	89,227	SPONSORED RESEARCH SUB-AWARD
(122) POPULATION COUNCIL ONE DAG HAMMARSKJOLD PLAZA NEW YORK,NY10017	13-1687001	IRC 501(C)(3)	87,561	SPONSORED RESEARCH SUB-AWARD
(123) NATIONAL CTR ON TIME AND LEARNING 24 SCHOOL ST 3RD FL BOSTON,MA02108	04-3534001	IRC 501(C)(3)	86,928	SPONSORED RESEARCH SUB-AWARD
(124) SOCIAL SCIENCE RESEARCH SOLUTIONS 53 WEST BALTIMORE PIKE MEDIA,PA19063		NOT EXEMPT	82,695	SPONSORED RESEARCH SUB-AWARD
(125) CHELSEA COLLABORATIVE INC 318 BROADWAY CHELSEA,MA02150	22-2906521	IRC 501(C)(3)	82,191	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS AND SPONSORED RESEARCH SUB-AWARD
(126) OREGON STATE UNIVERSITY PO BOX 1086 CORVALLIS,OR97339	48-1278540	IRC 501(C)(6)	78,340	SPONSORED RESEARCH SUB-AWARD
(127) ECONOMIC DEVELOPMENT AND INDUSTRIAL CORP BOSTON ONE CITY HALL SQ BOSTON,MA02201		GOVERNMENTAL UNIT	76,380	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(128) FENWAY COMMUNITY HEALTH CTR 1340 BOYLSTON ST BOSTON,MA02215	04-2510564	IRC 501(C)(3)	74,357	SPONSORED RESEARCH SUB-AWARD
(129) REGENTS OF THE UNIVERSITY OF CALIFORNIA SANTA CRUZ 1156 HIGH ST SANTA CRUZ,CA95064	94-1539563	IRC 501(C)(3)	74,225	SPONSORED RESEARCH SUB-AWARD
(130) UNIVERSITY OF SOUTH FLORIDA 4202 EAST FOWLER AVE TAMPA,FL33620	59-3102112	IRC 115	72,840	SPONSORED RESEARCH SUB-AWARD
(131) NATIONAL ECOLOGICAL OBSERVATORY NETWORK 1685 38TH ST STE 100 BOULDER,CO80301	20-4510571	IRC 501(C)(3)	72,022	SPONSORED RESEARCH SUB-AWARD
(132) REGENTS OF THE UNIVERSITY OF CALIFORNIA LOS ANGELES 10920 WILSHIRE BLVD STE 620 LOS ANGELES,CA90024	95-6006143	IRC 501(C)(3)	70,217	SPONSORED RESEARCH SUB-AWARD
(133) SPAULDING REHABILITATION HOSPITAL VOLUNTEER SERVICES 300 FIRST AVE CHARLESTOWN,MA02129	04-2551124	IRC 501(C)(3)	67,642	SPONSORED RESEARCH SUB-AWARD
(134) URBAN REVIVAL INC 284 AMORY ST 1ST FL JAMAICA PLAIN,MA02130	04-2660311	IRC 501(C)(3)	66,477	SPONSORED RESEARCH SUB-AWARD
(135) BRIGHAM YOUNG UNIVERSITY PO BOX 21231 PROVO,UT84602	87-0217280	IRC 501(C)(3)	65,304	SPONSORED RESEARCH SUB-AWARD
(136) STRATEGIC EDUCATION RESEARCH PARTNERSHIP 1100 CONNECTICUT AVE NW STE 1310 WASHINGTON,DC20036	30-0231116	IRC 501(C)(3)	64,824	SPONSORED RESEARCH SUB-AWARD
(137) SALK INST FOR BIOLOGICAL STUDIES 10010 NO TORREY PINES RD LA JOLLA,CA92037	95-2160097	IRC 501(C)(3)	63,313	SPONSORED RESEARCH SUB-AWARD
(138) WOODS HOLE OCEANOGRAPHIC INSTITUTION 221 OYSTER POND RD WOODS HOLE,MA02543	04-2105850	IRC 501(C)(3)	63,015	SPONSORED RESEARCH SUB-AWARD
(139) WORLD HEALTH ORGANIZATION 525 23RD ST NW WASHINGTON,DC20037		GOVERNMENTAL UNIT	60,000	SPONSORED RESEARCH SUB-AWARD
(140) WASHINGTON STATE UNIVERSITY PO BOX 643140 PULLMAN,WA99164	91-6001108	IRC 115	57,901	SPONSORED RESEARCH SUB-AWARD
(141) TRUSTEES OF BOSTON COLLEGE 140 COMMONWEALTH AVE CHESTNUT HILL,MA02467	04-2103545	IRC 501(C)(3)	56,437	SPONSORED RESEARCH SUB-AWARD
(142) DONALD DANFORTH PLANT SCIENCE CTR 975 NORTH WARSON RD ST LOUIS,MO63132	31-1584621	IRC 501(C)(3)	55,872	SPONSORED RESEARCH SUB-AWARD
(143) UNIVERSITY OF UTAH 201 S PRESIDENTS CIR RM 408 SALT LAKE CITY,UT84112	87-6000525	IRC 501(C)(3)	54,867	SPONSORED RESEARCH SUB-AWARD
(144) LOS ALAMOS NATIONAL LABORATORY PO BOX 1663 LOS ALAMOS,NM87545		GOVERNMENTAL UNIT	53,743	SPONSORED RESEARCH SUB-AWARD
(145) NORTH CAROLINA STATE UNIVERSITY 2211 HILLSBOROUGH ST RALEIGH,NC27607	56-6000756	IRC 115	52,849	SPONSORED RESEARCH SUB-AWARD
(146) CLINICAL ASSISTANCE PROGRAMS 111 SPEEN ST STE 303 FRAMINGHAM,MA01701		NOT EXEMPT	52,639	SPONSORED RESEARCH SUB-AWARD
(147) TEMPLE UNIVERSITY 1801 NORTH BROAD ST PHILADELPHIA,PA19122	23-1365971	IRC 501(C)(3)	52,079	SPONSORED RESEARCH SUB-AWARD
(148) MASSACHUSETTS TECHNOLOGY COLLABORATIVE 75 NORTH DR WESTBOROUGH,MA01581		GOVERNMENTAL UNIT	51,343	SPONSORED RESEARCH SUB-AWARD
(149) STATE UNIVERSITY OF NEW YORK 1400 WASHINGTON AVE AD 216 ALBANY,NY12222	16-1514621	IRC 115	51,310	SPONSORED RESEARCH SUB-AWARD
(150) ASSOC OF UNIVERSITIES FOR RESEARCH IN ASTRONOMY INC 1212 NEW YORK AVE NW STE 450 WASHINGTON,DC20005	86-0138043	IRC 501(C)(3)	51,151	SPONSORED RESEARCH SUB-AWARD
(151) CARNEGIE MELLON UNIVERSITY 5000 FORBES AVE PITTSBURGH,PA15213	25-0969449	IRC 501(C)(3)	50,561	SPONSORED RESEARCH SUB-AWARD
(152) SKOURTES INST 6950 NE CAMPUS WAY HILLSBORO,OR97124	45-4089973	IRC 501(C)(4)	50,400	SPONSORED RESEARCH SUB-AWARD
(153) AMERICAN COUNCIL OF LEARNED SOCIETIES 633 3RD AVE 8TH FL NEW YORK,NY10017	13-1851145	IRC 501(C)(3)	50,000	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(154) HARVARD SQUARE BUSINESS ASSOC 18 BRATTLE ST NO 352 CAMBRIDGE,MA02138	04-2647383	IRC 501(C)(6)	50,000	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(155) UNIVERSITY OF KANSAS CTR FOR RESEARCH INC 2385 IRVING HILL RD LAWRENCE,KS66045	48-0680117	IRC 501(C)(3)	49,981	SPONSORED RESEARCH SUB-AWARD
(156) SYRACUSE UNIVERSITY SKYTOP OFFICE BLDG SKYTOP RD STE 122 SYRACUSE,NY13244	15-0532081	IRC 501(C)(3)	49,931	SPONSORED RESEARCH SUB-AWARD
(157) UNIVERSITY OF MARYLAND 3300 METZEROTT RD ADELPHI,MD20783	52-6002033	IRC 115	49,147	SPONSORED RESEARCH SUB-AWARD
(158) UNIVERSITY OF MISSISSIPPI MEDICAL CTR 2500 NORTH STATE ST JACKSON,MS39216	64-6008520	IRC 501(C)(3)	48,818	SPONSORED RESEARCH SUB-AWARD
(159) SIMMONS COLLEGE 300 THE FENWAY BOSTON,MA02115	04-2103629	IRC 501(C)(3)	48,110	SPONSORED RESEARCH SUB-AWARD
(160) VANDERBILT MEDICAL CTR 1211 MEDICAL CTR DR NASHVILLE,TN37232	16-2047682	IRC 501(C)(3)	47,732	SPONSORED RESEARCH SUB-AWARD
(161) NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 MASS AVE CAMBRIDGE,MA02138	13-1641075	IRC 501(C)(3)	43,630	SPONSORED RESEARCH SUB-AWARD
(162) J CRAIG VENTER INST 9704 MEDICAL CENTER DR ROCKVILLE,MD20850	52-1842938	IRC 501(C)(3)	41,649	SPONSORED RESEARCH SUB-AWARD
(163) TEXAS ENGINEERING EXPERIMENT STATION 3470 TAMU COLLEGE STATION,TX77843	74-1974733	IRC 501(C)(3)	41,164	SPONSORED RESEARCH SUB-AWARD
(164) UNIVERSITY OF VIRGINIA PO BOX 400127 CHARLOTTESVILLE,VA22904	54-6001796	IRC 115	41,016	SPONSORED RESEARCH SUB-AWARD
(165) UNIVERSITY OF CINCINNATI 2600 CLIFTON AVE CINCINNATI,OH45221	31-6000989	IRC 115	40,191	SPONSORED RESEARCH SUB-AWARD
(166) RUTGERS THE STATE UNIVERSITY OF NEW JERSEY 65 DAVIDSON RD RM 317 PISCATAWAY,NJ08854	22-6001086	IRC 501(C)(3)	40,185	SPONSORED RESEARCH SUB-AWARD
(167) REGENTS OF THE UNIVERSITY OF CALIFORNIA AT RIVERSIDE 900 UNIVERSITY AVE RIVERSIDE,CA92521	95-6006142	IRC 501(C)(3)	40,000	SPONSORED RESEARCH SUB-AWARD
(168) UNIVERSITY OF OREGON PO BOX 3237 EUGENE,OR97403	46-4727800	IRC 115	40,000	SPONSORED RESEARCH SUB-AWARD
(169) UNIVERSITY OF ARKANSAS FOR MEDICAL SCIENCES 4301 W MARKHAM ST 716 LITTLE ROCK,AR72205	71-0236904	IRC 115	38,926	SPONSORED RESEARCH SUB-AWARD
(170) NEW ENGLAND RESEARCH INSTITUTES INC 480 PLEASANT ST WATERTOWN,MA02472	04-2919509	EXEMPT	38,422	SPONSORED RESEARCH SUB-AWARD
(171) NATIONAL OPINION RESEARCH CTR 55 E MONROE ST 20TH FL CHICAGO,IL60603	36-2167808	IRC 501(C)(3)	37,794	SPONSORED RESEARCH SUB-AWARD
(172) MORNINGSIDE ANALYTICS 116 W 23RD ST NEW YORK,NY10011		NOT EXEMPT	37,500	SPONSORED RESEARCH SUB-AWARD
(173) UNIVERSITY OF CONNECTICUT 115 N EAGLEVILLE RD STORRSMANSFIELD,CT06269	06-0772160	IRC 115	37,126	SPONSORED RESEARCH SUB-AWARD
(174) FRANKLIN W OLIN COLLEGE OF ENGINEERING INC 1000 OLIN WAY NEEDHAM,MA02492	06-1519057	IRC 501(C)(3)	36,381	SPONSORED RESEARCH SUB-AWARD
(175) MARQUETTE UNIVERSITY PO BOX 1881 MILWAUKEE,WI53201	39-0806251	IRC 501(C)(3)	36,267	SPONSORED RESEARCH SUB-AWARD
(176) CASE WESTERN RESERVE UNIVERSITY 10900 EUCLID AVE CLEVELAND,OH44106	34-1018992	IRC 501(C)(3)	34,716	SPONSORED RESEARCH SUB-AWARD
(177) MOREHOUSE SCHOOL OF MEDICINE 720 WESTVIEW DR SW ATLANTA,GA30310	58-1438873	IRC 501(C)(3)	33,922	SPONSORED RESEARCH SUB-AWARD
(178) COMMITTEE FOR BOSTON PUBLIC HOUSING 100 TERRACE ST STE B BOSTON,MA02120	04-2730930	IRC 501(C)(3)	33,770	SPONSORED RESEARCH SUB-AWARD
(179) BOSTON HOUSING AUTHORITY 52 CHAUNCY ST BOSTON,MA02111	04-6001907	GOVERNMENTAL UNIT	33,577	SPONSORED RESEARCH SUB-AWARD
(180) GREATER BOSTON LEGAL SERVICES 197 FRIEND ST BOSTON,MA02114	04-2103907	IRC 501(C)(3)	33,239	SPONSORED RESEARCH SUB-AWARD
(181) CHILDREN'S SERVICES COUNCIL OF PALM BEACH COUNTY 2300 HIGH RIDGE RD BOYNTON BEACH,FL33426		GOVERNMENTAL UNIT	32,294	SPONSORED RESEARCH SUB-AWARD
(182) LEARNING EDGE VENTURES LLC 1376 PEQUOT AVE SOUTHPORT,CT06890		NOT EXEMPT	31,862	SPONSORED RESEARCH SUB-AWARD
(183) IMPAQ INTERNATIONAL LLC 10420 LITTLE PATUXENT PKWY STE 300 COLUMBIA,MD21044		NOT EXEMPT	31,539	SPONSORED RESEARCH SUB-AWARD
(184) CAMBRIDGE COMMUNITY CTR 5 CALLENDER ST CAMBRIDGE,MA02139	04-2477881	IRC 501(C)(3)	31,500	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(185) UNIVERSITY OF HOUSTON 4800 CALHOUN RD HOUSTON,TX77004	74-6001399	IRC 115	31,451	SPONSORED RESEARCH SUB-AWARD
(186) HELEN KELLER INTERNATIONAL 352 PARK AVE SOUTH 12TH FL NEW YORK,NY10010	13-5562162	IRC 501(C)(3)	30,000	SPONSORED RESEARCH SUB-AWARD
(187) THE HASTINGS CTR 21 MALCOLM GORDON RD GARRISON,NY10524	13-2662222	IRC 501(C)(3)	28,958	SPONSORED RESEARCH SUB-AWARD
(188) HENRY M JACKSON FDN FOR THE ADVCMT OF MILITARY MED INC 6720A ROCKLEDGE DR STE 100 BETHESDA,MD20817	52-1317896	IRC 501(C)(3)	27,003	SPONSORED RESEARCH SUB-AWARD
(189) BEDFORD VA RESEARCH CORP INC 200 SPRINGS RD MS 151 BEDFORD,MA01730	04-3512440	IRC 501(C)(3)	26,154	SPONSORED RESEARCH SUB-AWARD
(190) EXPONENT INC 149 COMMONWEALTH DR MENLO PARK,CA94025	77-0218904	NOT EXEMPT	26,074	SPONSORED RESEARCH SUB-AWARD
(191) CHILDREN'S HOSPITAL OF ALABAMA 1600 7TH AVE SOUTH BIRMINGHAM,AL35233	63-0307306	IRC 501(C)(3)	25,614	SPONSORED RESEARCH SUB-AWARD
(192) HARVARD BUSINESS SCHOOL CLUB OF NEW YORK 350 5TH AVE STE 4811 NEW YORK,NY10118	13-6159699	IRC 501(C)(3)	25,500	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(193) UNIVERSITY OF CHICAGO 5801 S ELLIS AVE CHICAGO,IL60637	36-2177139	IRC 501(C)(3)	24,807	SPONSORED RESEARCH SUB-AWARD
(194) FBREAGENTS 199 AUBURN ST CAMBRIDGE,MA02139		NOT EXEMPT	24,175	SPONSORED RESEARCH SUB-AWARD
(195) TREATMENT ACTION GROUP 261 FIFTH AVE STE 2110 NEW YORK,NY10016	13-3624785	IRC 501(C)(3)	23,320	SPONSORED RESEARCH SUB-AWARD
(196) SAN JUAN BOARD OF COOPERATIVE EDUCATIONAL SERVICES 201 E 12TH ST DURANGO,CO81301		EXEMPT	23,284	SPONSORED RESEARCH SUB-AWARD
(197) CHILDREN'S HOSPITAL OF PHILADELPHIA 34TH ST AND CIVIC CTR BLVD PHILADELPHIA,PA19104	23-1352166	IRC 501(C)(3)	23,124	SPONSORED RESEARCH SUB-AWARD
(198) POMONA COLLEGE 150 E 8TH ST PENDLETON BLDG 108 CLAREMONT,CA91711	95-1664112	IRC 501(C)(3)	22,592	SPONSORED RESEARCH SUB-AWARD
(199) THE RETIREMENT SANCTUARY FOR LABORATORY ANIMALS PO BOX 171 GONZALES,TX78629	74-3004764	IRC 501(C)(3)	22,000	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(200) AURORA HEALTH CARE 750 W VIRGINIA ST PO BOX 341880 MILWAUKEE,WI53234	39-1442285	IRC 501(C)(3)	21,671	SPONSORED RESEARCH SUB-AWARD
(201) THOMPSON SCHOOL DISTRICT R2-J 800 S TAFT AVE LOVELAND,CO80537		GOVERNMENTAL UNIT	20,135	SPONSORED RESEARCH SUB-AWARD
(202) SAGE BIONETWORKS 1100 FAIRVIEW AVE NORTH SEATTLE,WA98109	26-4489946	IRC 501(C)(3)	20,077	SPONSORED RESEARCH SUB-AWARD
(203) RUSH UNIVERSITY MEDICAL CTR 1653 W CONGRESS PKWY CHICAGO,IL60612	36-2174823	IRC 501(C)(3)	19,595	SPONSORED RESEARCH SUB-AWARD
(204) UNIVERSITY OF NEBRASKA - LINCOLN 1400 R ST LINCOLN,NE68588	47-0049123	IRC 501(C)(3)	18,937	SPONSORED RESEARCH SUB-AWARD
(205) WEST VIRGINIA UNIVERSITY ONE WATERFRONT PL PO BOX 6005 MORGANTOWN,WV26506	55-6000842	IRC 115	18,508	SPONSORED RESEARCH SUB-AWARD
(206) HEALTHPARTNERS INST FOR EDUC AND RES 8170 33RD AVE SOUTH MINNEAPOLIS,MN55440	41-1670163	IRC 501(C)(3)	18,396	SPONSORED RESEARCH SUB-AWARD
(207) RAGON INST OF MGH MIT AND HARVARD 400 TECHNOLOGY SQUARE CAMBRIDGE,MA02139		EXEMPT	18,081	SPONSORED RESEARCH SUB-AWARD
(208) FATHOM INFORMATION DESIGN 214 CAMBRIDGE ST 2ND FL BOSTON,MA02114		NOT EXEMPT	17,864	SPONSORED RESEARCH SUB-AWARD
(209) LIFEPLANS INC 51 SAWYER RD STE 340 WALTHAM,MA02453	04-2925808	NOT EXEMPT	17,506	SPONSORED RESEARCH SUB-AWARD
(210) EAGLE COUNTY SCHOOLS 948 CHAMBERS AVE PO BOX 740 EAGLE,CO81631		GOVERNMENTAL UNIT	16,812	SPONSORED RESEARCH SUB-AWARD
(211) CENTEYE INC 4905 RENO RD NW WASHINGTON,DC20008	52-2234809	NOT EXEMPT	16,415	SPONSORED RESEARCH SUB-AWARD
(212) HEBREW REHABILITATION CTR FOR AGED 1200 CENTRE ST ROSLINDALE,MA02131	04-2104298	IRC 501(C)(3)	15,408	SPONSORED RESEARCH SUB-AWARD
(213) CRADLES TO CRAYONS 155 NORTH BEACON ST BRIGHTON,MA02135	04-3584367	IRC 501(C)(3)	15,000	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(214) INTER-AMERICAN DIALOGUE 1211 CONNECTICUT AVE NW STE 510 WASHINGTON,DC20036	52-1830369	IRC 501(C)(3)	15,000	SPONSORED RESEARCH SUB-AWARD
(215) OREGON BUSINESS COUNCIL 1100 SW 6TH AVE STE 1608 PORTLAND,OR97204	93-0884244	IRC 501(C)(6)	15,000	SPONSORED RESEARCH SUB-AWARD
(216) SOUTH CAROLINA COUNCIL ON COMPETITIVENESS 1411 GERVAIS ST STE 315 COLUMBIA,SC29201	20-1690146	IRC 501(C)(3)	15,000	SPONSORED RESEARCH SUB-AWARD
(217) RESEARCH TRIANGLE INST INTERNATIONAL 3040 E CORNWALLIS RD RSCH TRIANGLE PARK,NC27709	56-0686338	IRC 501(C)(3)	12,913	SPONSORED RESEARCH SUB-AWARD
(218) INST OF INTERNATIONAL EDUCATION INC 809 UNITED NATIONS PLAZA NEW YORK,NY10017	13-1624046	IRC 501(C)(3)	12,773	SPONSORED RESEARCH SUB-AWARD
(219) PORTLAND STATE UNIVERSITY PO BOX 751 PORTLAND,OR97207	36-4776757	IRC 115	12,769	SPONSORED RESEARCH SUB-AWARD
(220) WEST END HOUSE INC 105 ALLSTON ST ALLSTON,MA02134	04-2105825	IRC 501(C)(3)	12,500	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(221) YMCA OF GREATER BOSTON 316 HUNTINGTON AVE BOSTON,MA02115	04-2103551	IRC 501(C)(3)	12,500	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(222) UNIVERSITY OF TEXAS AT AUSTIN PO BOX 7996 AUSTIN,TX78712	74-6000203	IRC 115	12,471	SPONSORED RESEARCH SUB-AWARD
(223) DUDLEY VISION SKYLAB INC 23 ROBIN HOOD ST DORCHESTER,MA02125	00-1162368	IRC 501(C)(3)	12,200	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(224) ALLSTON BRIGHTON COMMUNITY DEVELOPMENT CORP 20 LINDEN ST ALLSTON,MA02134	04-2716278	IRC 501(C)(3)	10,800	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(225) AGGREGATE ARCHITECTURAL HISTORY COLLABORATIVE 11 TALBOT AVE MEDFORD,MA02155	46-1448988	IRC 501(C)(3)	10,000	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(226) CAMBRIDGE FAMILY AND CHILDREN'S SERVICE 60 GORE ST CAMBRIDGE,MA02141	04-2104057	IRC 501(C)(3)	10,000	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(227) CAMBRIDGE HOUSING ASSISTANCE FUND 552 MASS AVE STE 208A CAMBRIDGE,MA02139	04-3311270	IRC 501(C)(3)	10,000	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(228) CHARLES RIVER CONSERVANCY 4 BRATTLE ST CAMBRIDGE,MA02138	04-3503656	IRC 501(C)(3)	10,000	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(229) FOOD FOR FREE COMMITTEE INC 11 INMAN ST CAMBRIDGE,MA02139	22-2561771	IRC 501(C)(3)	10,000	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(230) LEARNING BY DESIGN IN MASSACHUSETTS 290 CONGRESS ST STE 200 BOSTON,MA02210	30-0468041	IRC 501(C)(3)	10,000	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(231) LOS ANGELES UNIFIED SCHOOL DISTRICT 333 S BEAUDRY AVE 24TH FL LOS ANGELES,CA90017	95-6101193	GOVERNMENTAL UNIT	10,000	SPONSORED RESEARCH SUB-AWARD
(232) MISSION HILL YOUTH COLLABORATIVE 31 LENOX ST BOSTON,MA02118		GOVERNMENTAL UNIT	10,000	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(233) MIT MUSEUM 265 MASS AVE CAMBRIDGE,MA02139		EXEMPT	10,000	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(234) TRANSITION HOUSE PO BOX 392016 CAMBRIDGE,MA02139	04-2631789	IRC 501(C)(3)	10,000	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(235) COLLEGE BOUND DORCHESTER INC 18 SAMOSET ST DORCHESTER,MA02124	04-2383512	IRC 501(C)(3)	9,760	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(236) SAN DIEGO STATE UNIVERSITY RESEARCH FDN 5250 CAMPANILE DR SAN DIEGO,CA92182	95-6042721	IRC 501(C)(3)	9,592	SPONSORED RESEARCH SUB-AWARD
(237) CAMBRIDGE COMMUNITY FDN 99 BISHOP ALLEN DR CAMBRIDGE,MA02139	04-6012492	IRC 501(C)(3)	9,500	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(238) HEIFER INTERNATIONAL FDN PO BOX 727 LITTLE ROCK,AR72203	71-0699939	IRC 501(C)(3)	9,223	SPONSORED RESEARCH SUB-AWARD
(239) WELLESLEY COLLEGE 106 CENTRAL ST WELLESLEY,MA02481	04-2103637	IRC 501(C)(3)	9,017	SPONSORED RESEARCH SUB-AWARD
(240) WOMEN'S LUNCH PLACE INC 67 NEWBURY ST BOSTON,MA02116	22-2514148	IRC 501(C)(3)	9,011	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(241) GRADY HEALTH SYSTEM 80 JESSE HILL JR DR SE ATLANTA,GA30303	26-2037695	IRC 501(C)(3)	7,812	SPONSORED RESEARCH SUB-AWARD
(242) BELL FDN 60 CLAYTON ST DORCHESTER,MA02122	04-3182053	IRC 501(C)(3)	7,500	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(243) TENACITY INC 38 EVERETT ST STE 50 BOSTON,MA02134	04-3452763	IRC 501(C)(3)	7,320	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(244) FII NATIONAL 1203 PRESERVATION PARK WAY OAKLAND,CA94612	02-0784790	IRC 501(C)(3)	7,000	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(245) INST OF MEDICINE 500 FIFTH ST NW WASHINGTON,DC20001	53-0196932	IRC 501(C)(3)	6,936	SPONSORED RESEARCH SUB-AWARD
(246) INST FOR WILDLIFE STUDIES PO BOX 1104 ARCATA,CA95518	94-2612613	IRC 501(C)(3)	6,318	SPONSORED RESEARCH SUB-AWARD
(247) METROPOLITAN AREA PLANNING COUNCIL 60 TEMPLE PL BOSTON,MA02111		GOVERNMENTAL UNIT	6,184	SPONSORED RESEARCH SUB-AWARD
(248) JULIE'S FAMILY LEARNING PROGRAM 133 DORCHESTER ST BOSTON,MA02127	11-3692512	IRC 501(C)(3)	6,100	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(249) NURTURY INC 950 BERKELEY ST STE 306 BOSTON,MA02116	04-2105893	IRC 501(C)(3)	6,100	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(250) NATIONAL DEVELOPMENT AND RESEARCH INST INC 71 W 23RD ST 4TH FL NEW YORK,NY10010	23-7009089	IRC 501(C)(3)	6,095	SPONSORED RESEARCH SUB-AWARD
(251) MARGARET FULLER NEIGHBORHOOD HOUSE 71 CHERRY ST CAMBRIDGE,MA02139	04-2103782	IRC 501(C)(3)	6,000	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(252) CAMBRIDGE ARTS COUNCIL 344 BROADWAY 2ND FL CAMBRIDGE,MA02139	04-2474907	IRC 501(C)(3)	5,500	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(253) CTR FOR LABOR EDUCATION AND RESEARCH INC 3353 WASHINGTON ST JAMAICA PLAIN,MA02130	22-2604923	IRC 501(C)(3)	5,230	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS
(254) RODEL FDN OF DELAWARE PO BOX 1636 WILMINGTON,DE19899	91-1944585	IRC 501(C)(3)	5,000	SPONSORED RESEARCH SUB-AWARD
(255) AMOUNTS 5000 OR LESS VARIOUS CAMBRIDGE,MA02135		VARIOUS	168,191	COMMUNITY GIFTS AND CHARITABLE CONTRIBUTIONS

Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................ Bullet Image

231

Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50055P

Schedule I (Form 990) 2014

Page 2

Part III

Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" to Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.

(a)Type of grant or assistance	(b)Number of recipients	(c)Amount of cash grant
(1) GRADUATE STUDENT TUITION AND FEES GRANTS	8964	208,489,368
(2) UNDERGRADUATE TUITION, FEES, AND STIPEND GRANTS	4004	172,211,960
(3) GRADUATE STUDENT STIPEND GRANTS	4749	78,986,382
(4) STIPENDS FOR POST-DOCTORAL STUDENTS AND FELLOWS	1211	28,909,347
(5) OTHER STUDENT GRANTS, PRIZES AND AWARDS	4322	11,564,424
(6) GRANTS AND AWARDS TO NON-HARVARD STUDENTS	1385	8,123,382
(7) STUDENT LOAN REPAYMENT PROGRAMS AND FORGIVEN LOANS	627	7,073,566
(8) OTHER UNDERGRADUATE GRANTS, PRIZES AND AWARDS	1256	4,395,318
(9) TRAINING GRANTS	69	409,230

Part IV

Supplemental Information. Provide the information required in Part I, line 2, Part III, column (b), and any other additional information.

Return Reference

Explanation

Schedule I, Part I, Line 2 Description Of Procedure For Monitoring Use Of Grant Funds

ALL DISBURSEMENTS MADE BY THIS INSTITUTION IN FURTHERANCE OF ITS EXEMPT PROGRAMS ARE REVIEWED AND APPROVED BY AUTHORIZED COMMITTEES OR INDIVIDUALS. ALL SCHOLARSHIPS AND STUDENT LOANS ARE REVIEWED AND APPROVED BY HARVARD'S FINANCIAL AID OFFICES. IN ADDITION, HARVARD UNIVERSITY IS RESPONSIBLE FOR THE PROGRAMMATIC AND FINANCIAL MONITORING OF ITS SPONSORED RESEARCH AWARD SUBRECIPIENTS. PRINCIPAL INVESTIGATORS AND PROJECT STAFF PERFORM ONGOING REVIEWS OF PROJECT ACTIVITIES. IN ADDITION, ON AN ANNUAL BASIS, UNIVERSITY RESEARCH ADMINISTRATORS REVIEW ALL ACTIVE SUBCONTRACTS AND INQUIRE FURTHER INTO THOSE THAT ARE DEEMED TO REQUIRE CLOSER SCRUTINY IN LIGHT OF A VARIETY OF ATTRIBUTES. UPON IDENTIFICATION OF SUBRECIPIENTS THAT MANDATE CLOSER SCRUTINY, HARVARD IMPLEMENTS ADDITIONAL MONITORING ACTIONS TO ENSURE COMPLIANCE WITH SUBAGREEMENT PERFORMANCE, FINANCIAL TERMS AND CONDITIONS, AND WITH ALL APPLICABLE FEDERAL RULES AND REGULATIONS.

Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds.

Schedule I (Form 990) 2014

Additional Data

Software ID:	14000329
Software Version:	2014v1.0

- TIN:

Schedule J
(Form 990)

Department of the Treasury
Internal Revenue Service

Compensation Information

For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet

Complete if the organization answered "Yes" to Form 990, Part IV, line 23.
SchJMediumBullet

Attach to Form 990.
SchJMediumBullet

Information about Schedule J (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization

President and Fellows of Harvard College

Employer identification number

04-2103580

Part I

Questions Regarding Compensation

Yes

Check the appropiate box(es) if the organization provided any of the following to or for a person listed in Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.

First-class or charter travel Housing allowance or residence for personal use

Travel for companions Payments for business use of personal residence

Tax idemnification and gross-up payments Health or social club dues or initiation fees

Discretionary spending account Personal services (e.g., maid, chauffeur, chef)

If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain....

Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked in line 1a? ..

Yes

Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.

Compensation committee Written employment contract

Independent compensation consultant Compensation survey or study

Form 990 of other organizations Approval by the board or compensation committee

During the year, did any person listed in Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:

Receive a severance payment or change-of-control payment? ................

Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........

Yes

Participate in, or receive payment from, an equity-based compensation arrangement? .........

If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.

Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.

For persons listed in Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:

The organization? ...........................

Any related organization? .........................

If "Yes," to line 5a or 5b, describe in Part III.

For persons listed in Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:

The organization? ...........................

Any related organization? .........................

If "Yes," to line 6a or 6b, describe in Part III.

For persons listed in Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............

Yes

Were any amounts reported in Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III .............................

Yes

If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................

Yes

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50053T

Schedule J (Form 990) 2014

Page 2

Part II

Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.

For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.

(A) Name and Title		(B) Breakdown of W-2 and/or 1099-MISC compensation			(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)	(F) Compensation in column(B) reported as deferred in prior Form 990
(A) Name and Title		(i) Base compensation	(ii) Bonus & incentive compensation	(iii) Other reportable compensation	(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)
1DREW GILPIN FAUST PRESIDENT	(i) (ii)	810,884 ............................... 0	0 ............................... 0	5,486 ............................... 0	233,150 ............................... 0	153,460 ............................... 0	1,202,980 ............................... 0	0 ............................... 0
2KAREN GORDON MILLS FELLOW (BEGAN 07/2014); SENIOR FELLOW AT HBS	(i) (ii)	139,077 ............................... 0	0 ............................... 0	153 ............................... 0	15,506 ............................... 0	3,439 ............................... 0	158,175 ............................... 0	0 ............................... 0
3STEVEN E HYMAN FACULTY; FORMER PROVOST	(i) (ii)	417,266 ............................... 0	0 ............................... 0	1,271 ............................... 0	33,150 ............................... 0	4,890 ............................... 0	456,577 ............................... 0	0 ............................... 0
4PAUL ANDREW V.P. PUBLIC AFFAIRS AND COMM. (BEGAN 03/2015)	(i) (ii)	258,697 ............................... 0	16,156 ............................... 0	99 ............................... 0	20,473 ............................... 0	20,224 ............................... 0	315,649 ............................... 0	0 ............................... 0
5ALAN M GARBER PROVOST	(i) (ii)	635,049 ............................... 0	10,000 ............................... 0	1,388 ............................... 0	33,150 ............................... 0	153,580 ............................... 0	833,167 ............................... 0	0 ............................... 0
6MARC L GOODHEART V.P. AND SECRETARY OF THE UNIVERSITY	(i) (ii)	339,486 ............................... 0	0 ............................... 0	342 ............................... 0	33,407 ............................... 0	21,829 ............................... 0	395,064 ............................... 0	0 ............................... 0
7MARILYN M HAUSAMMANN V.P. FOR HUMAN RESOURCES	(i) (ii)	349,956 ............................... 0	20,000 ............................... 0	1,026 ............................... 0	33,150 ............................... 0	22,177 ............................... 0	426,309 ............................... 0	0 ............................... 0
8CHRISTINE M HEENAN V.P. PUBLIC AFFAIRS AND COMM. (UNTIL 02/2015)	(i) (ii)	349,171 ............................... 0	20,000 ............................... 0	236 ............................... 0	33,150 ............................... 0	23,310 ............................... 0	425,867 ............................... 0	0 ............................... 0
9ROBERT W IULIANO SENIOR V.P. AND GENERAL COUNSEL	(i) (ii)	478,991 ............................... 0	25,000 ............................... 0	11,637 ............................... 0	33,325 ............................... 0	23,481 ............................... 0	572,434 ............................... 0	0 ............................... 0
10MARK R JOHNSON V.P. FOR CAPITAL PLANNING AND PROJECT MANAGEMENT	(i) (ii)	284,000 ............................... 0	5,000 ............................... 0	174 ............................... 0	33,150 ............................... 0	8,926 ............................... 0	331,250 ............................... 0	0 ............................... 0
11KATHERINE N LAPP EXECUTIVE VICE PRESIDENT	(i) (ii)	599,116 ............................... 0	30,000 ............................... 0	1,298 ............................... 0	33,150 ............................... 0	8,225 ............................... 0	671,789 ............................... 0	0 ............................... 0
12ANNE H MARGULIES V.P. AND CHIEF INFORMATION OFFICER	(i) (ii)	353,550 ............................... 0	20,000 ............................... 0	676 ............................... 0	33,150 ............................... 0	20,963 ............................... 0	428,339 ............................... 0	0 ............................... 0
13TAMARA ELLIOTT ROGERS V.P. FOR ALUMNI AFFAIRS AND DEVELOPMENT	(i) (ii)	404,965 ............................... 0	0 ............................... 0	1,240 ............................... 0	33,256 ............................... 0	20,034 ............................... 0	459,495 ............................... 0	0 ............................... 0
14LEAH ROSOVSKY V.P. FOR STRATEGY AND PROGRAMS	(i) (ii)	332,808 ............................... 0	0 ............................... 0	609 ............................... 0	33,150 ............................... 0	7,725 ............................... 0	374,292 ............................... 0	0 ............................... 0
15DANIEL S SHORE V.P. FOR FINANCE AND C.F.O. (UNTIL 09/2014)	(i) (ii)	286,897 ............................... 0	30,000 ............................... 0	37,719 ............................... 0	33,150 ............................... 0	16,264 ............................... 0	404,030 ............................... 0	0 ............................... 0
16SARAH E THOMAS V.P. FOR THE HARVARD LIBRARY	(i) (ii)	320,375 ............................... 0	10,000 ............................... 0	31,707 ............................... 0	33,150 ............................... 0	8,520 ............................... 0	403,752 ............................... 0	0 ............................... 0
17MEREDITH WEENICK V.P. FOR CAMPUS SERVICES (BEGAN 07/2014)	(i) (ii)	154,458 ............................... 0	0 ............................... 0	97 ............................... 0	17,703 ............................... 0	4,982 ............................... 0	177,240 ............................... 0	0 ............................... 0
18JEFFREY S FLIER DEAN, FACULTY OF MEDICINE	(i) (ii)	597,117 ............................... 0	0 ............................... 0	4,571 ............................... 0	33,150 ............................... 0	20,526 ............................... 0	655,364 ............................... 0	0 ............................... 0
19NITIN NOHRIA DEAN, FACULTY OF BUSINESS	(i) (ii)	549,449 ............................... 0	20,000 ............................... 0	632 ............................... 0	33,150 ............................... 0	124,134 ............................... 0	727,365 ............................... 0	0 ............................... 0
20MICHAEL D SMITH DEAN, FACULTY OF ARTS & SCIENCES	(i) (ii)	551,270 ............................... 0	0 ............................... 0	631 ............................... 0	33,150 ............................... 0	98,344 ............................... 0	683,395 ............................... 0	0 ............................... 0
21JOHN AUBRECHT EXEC. DIR. OF LMEC, INC.	(i) (ii)	335,360 ............................... 0	288,862 ............................... 0	967 ............................... 0	33,150 ............................... 0	22,869 ............................... 0	681,208 ............................... 0	0 ............................... 0
22JULIO FRENK DEAN, FACULTY OF PUBLIC HEALTH	(i) (ii)	532,926 ............................... 0	0 ............................... 0	49,515 ............................... 0	33,150 ............................... 0	23,176 ............................... 0	638,767 ............................... 0	0 ............................... 0
23PAUL M HEALY FACULTY	(i) (ii)	406,905 ............................... 0	77,068 ............................... 0	67,807 ............................... 0	33,150 ............................... 0	21,688 ............................... 0	606,618 ............................... 0	0 ............................... 0
24SCOTT G KENNEDY FACULTY	(i) (ii)	71,986 ............................... 0	252,712 ............................... 0	305,364 ............................... 0	7,500 ............................... 0	8,718 ............................... 0	646,280 ............................... 0	0 ............................... 0
25VILANGADU NARAYANAN FACULTY	(i) (ii)	291,047 ............................... 0	162,068 ............................... 0	128,480 ............................... 0	33,150 ............................... 0	24,195 ............................... 0	638,940 ............................... 0	0 ............................... 0

Schedule J (Form 990) 2014

Page 3

Part III

Supplemental Information

Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II.
Also complete this part for any additional information.

Return Reference	Explanation
Schedule J, Part I, Line 3 COMPENSATION REVIEW PROCESS:	SEE SCHEDULE O "COMPENSATION REVIEW PROCESS" FOR A DISCUSSION OF THE METHODS USED TO ESTABLISH THE PRESIDENT'S COMPENSATION.
Schedule J, Part II SCHEDULE J SUPPLEMENTAL INFORMATION	STEPHEN BLYTH IS THE PRESIDENT AND CEO (EFFECTIVE 1/1/15) OF HARVARD MANAGEMENT COMPANY (HMC), A RELATED ORGANIZATION OF THE UNIVERSITY. DURING CALENDAR YEAR 2014, DR. BLYTH HELD A SENIOR FACULTY POSITION AT THE UNIVERSITY FOR WHICH HE RECEIVED A NOMINAL SALARY OF $1 PER MONTH. CONCURRENTLY, DR. BLYTH, IN HIS POSITION AS A MANAGING DIRECTOR AND THE HEAD OF PUBLIC MARKETS, WAS CONSIDERED A KEY EMPLOYEE OF HMC, WHICH HAS DISCLOSED HIS COMPENSATION FROM HMC, TOTALING $8,346,106, ON ITS FORM 990 FOR THE YEAR ENDED JUNE 30, 2015. NONE OF DR. BLYTH'S COMPENSATION FROM HMC RELATED TO HIS TEACHING POSITION AT THE UNIVERSITY. THE UNIVERSITY HAS NOT LISTED DR. BLYTH AS ONE OF ITS HIGHEST COMPENSATED EMPLOYEES GIVEN THE DISCLOSURE ON THE HMC FORM 990 AND IN ORDER TO HIGHLIGHT THE FIVE HIGHEST COMPENSATED EMPLOYEES WHO RECEIVED COMPENSATION FROM THE UNIVERSITY. CHRISTINE HEENAN STEPPED DOWN AS VICE PRESIDENT FOR HARVARD PUBLIC AFFAIRS AND COMMUNICATIONS IN FEBRUARY OF 2015. SHE CONTINUED TO PROVIDE SERVICES TO THE UNIVERSITY IN A PART-TIME CAPACITY THROUGH THE END OF THE FISCAL YEAR. PAUL ANDREW WAS APPOINTED VICE PRESIDENT FOR HARVARD PUBLIC AFFAIRS AND COMMUNICATION IN MARCH OF 2015. THE COMPENSATION ON THE 990 IS FOR THE FULL FISCAL YEAR OF 2014 BECAUSE HE WAS AN EMPLOYEE OF THE UNIVERSITY IN ANOTHER CAPACITY PRIOR TO THIS APPOINTMENT. FORMER PROVOST HYMAN CONTINUES TO BE EMPLOYED BY THE UNIVERSITY. HE IS REPORTED AS 'FORMER' BECAUSE HE DID NOT SERVE IN AN OFFICER CAPACITY DURING FISCAL YEAR 2015. FELLOWS LAWRENCE BACOW AND KAREN GORDON MILLS EACH HAD PAID FACULTY APPOINTMENTS DURING CALENDAR YEAR 2014 UNRELATED TO THEIR WORK AS MEMBERS OF THE HARVARD CORPORATION. THE COMPENSATION FOR THEIR ACADEMIC SERVICES IS REPORTED IN FORM 990, PART VII, SECTION A, COLUMN (D).
Schedule J, Part I, Line 1a First-class or charter travel	UNIVERSITY TRAVEL POLICY PROHIBITS FIRST CLASS TRAVEL EXCEPT IN LIMITED CIRCUMSTANCES. IN ACCORDANCE WITH THIS POLICY, TWO OFFICERS, ONE HIGHEST COMPENSATED EMPLOYEE AND ONE KEY EMPLOYEE TRAVELED FIRST CLASS ON A SMALL NUMBER OF TRIPS DURING THE YEAR. TRAVEL EXPENSES ARE INCURRED FOR UNIVERSITY BUSINESS PURPOSES AND ARE THEREFORE NOT TREATED AS TAXABLE COMPENSATION.
Schedule J, Part I, Line 1a Travel for companions	UNIVERSITY TRAVEL POLICY ALLOWS FOR REIMBURSEMENT OF TRAVEL EXPENSES INCURRED BY COMPANION TRAVELERS WHEN THE COMPANION HAS A SIGNIFICANT ROLE IN THE BUSINESS PROCEEDINGS, OR MAKES AN IMPORTANT CONTRIBUTION TO THE SUCCESS OF AN EVENT. IN ACCORDANCE WITH THIS POLICY, THE UNIVERSITY REIMBURSED ONE OFFICER AND ONE KEY EMPLOYEE FOR COMPANION TRAVEL DURING THE YEAR. IN THESE LIMITED CIRCUMSTANCES, THE REIMBURSEMENT OF COMPANION AND FAMILY MEMBER TRAVEL EXPENSES WAS A LEGITIMATE BUSINESS EXPENSE FOR THE UNIVERSITY AND THEREFORE IT WAS NOT REPORTED IN THE EMPLOYEES' TAXABLE COMPENSATION.
Schedule J, Part I, Line 1a Tax indemnification and gross-up payments	THE UNIVERSITY ELECTED TO PAY THE TAX OBLIGATIONS THAT AROSE FROM CERTAIN COMPENSATION TRANSACTIONS AND REIMBURSEMENTS. ONE HIGHEST COMPENSATED EMPLOYEE AND ONE OFFICER RECEIVED THIS BENEFIT PURSUANT TO COMPENSATION POLICIES DURING THE CALENDAR YEAR ENDED DECEMBER 31, 2014. THREE HIGHEST COMPENSATED EMPLOYEES RECEIVED THIS BENEFIT AS EXCEPTIONS TO POLICIES FOLLOWING REVIEW BY THE LOCAL HUMAN RECOURCES DEPARTMENT DURING THE CALENDAR YEAR ENDED DECEMBER 31, 2014. THE LISTED BENEFITS ARE PROVIDED ONLY AFTER CAREFUL REVIEW OF THEIR APPROPRIATENESS GIVEN INDIVIDUAL CIRCUMSTANCES. THESE TAX REIMBURSEMENTS ARE REPORTED AS TAXABLE COMPENSATION.
Schedule J, Part I, Line 1a Housing allowance or residence for personal use	THE UNIVERSITY FOLLOWS WRITTEN GUIDELINES ON HOUSING ALLOWANCES, WHICH ARE OFFERED ON A LIMITED BASIS TO SENIOR FACULTY AND SENIOR ADMINISTRATORS. THE UNIVERSITY PROVIDES PRESIDENT FAUST WITH A RESIDENCE IN CAMBRIDGE AND REQUIRES ITS USE AS CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE UNIVERSITY. THE TOTAL ESTIMATED VALUE OF THE ANNUAL USE OF THE RESIDENCE IS $192,000, OF WHICH $130,300 IS ESTIMATED TO BE THE VALUE OF THE PERSONAL USE AND IS REPORTED AS A NONTAXABLE BENEFIT IN PART VII, LINE 1A AND SCHEDULE J, PART II. THE UNIVERSITY PROVIDES PROVOST GARBER WITH A RESIDENCE IN CAMBRIDGE AND REQUIRES ITS USE AS CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE UNIVERSITY. THE TOTAL ESTIMATED VALUE OF THE ANNUAL USE OF THE RESIDENCE IS $174,000 OF WHICH $149,244 IS ESTIMATED TO BE THE VALUE OF THE PERSONAL USE AND IS REPORTED AS A NONTAXABLE BENEFIT IN PART VII, LINE 1A AND SCHEDULE J, PART II. HARVARD BUSINESS SCHOOL (HBS) PROVIDES DEAN NOHRIA WITH A RESIDENCE IN ALLSTON AND REQUIRES ITS USE AS CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF HBS. THE TOTAL ESTIMATED VALUE OF THE ANNUAL USE OF THE RESIDENCE IS $150,000 OF WHICH $102,838 IS ESTIMATED TO BE THE VALUE OF THE PERSONAL USE AND IS REPORTED AS A NONTAXABLE BENEFIT IN PART VII, LINE 1A AND SCHEDULE J, PART II. THE FACULTY OF ARTS AND SCIENCES (FAS) PROVIDES DEAN SMITH WITH A RESIDENCE IN CAMBRIDGE AND REQUIRES ITS USE AS CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF FAS. THE TOTAL ESTIMATED VALUE OF THE ANNUAL USE OF THE RESIDENCE IS $120,000, OF WHICH $79,246 IS ESTIMATED TO BE THE VALUE OF THE PERSONAL USE AND IS REPORTED AS A NONTAXABLE BENEFIT IN PART VII, LINE 1A AND SCHEDULE J, PART II. ONE HIGHEST COMPENSATED EMPLOYEE RECEIVED A HOUSING ALLOWANCE. THIS AMOUNT IS INCLUDED IN THE EMPLOYEE'S TAXABLE COMPENSATION.
Schedule J, Part I, Line 1a Health or social club dues or initiation fees	PURSUANT TO THE BUSINESS EXPENSE REIMBURSEMENT POLICY THE UNIVERSITY PAID HARVARD CLUB DUES FOR THE VICE PRESIDENT OF ALUMNI AFFAIRS AND DEVELOPMENT. THIS IS A NONTAXABLE BUSINESS EXPENSE IN FURTHERANCE OF ALUMNI RELATIONS AND DEVELOPMENT.
Schedule J, Part I, Line 1a Personal services	DURING THE PERFORMANCE OF REGULAR UNIVERSITY DUTIES, A UNIVERSITY EMPLOYEE MAY, ON OCCASION, PERFORM INCIDENTAL PERSONAL SERVICES FOR THE PRESIDENT (E.G., PURCHASING OF SMALL HOUSEHOLD ITEMS, WITH THE COST OF SUCH ITEMS REIMBURSED IN FULL BY THE PRESIDENT). THE UNIVERSITY REGARDS SUCH SERVICES AS A NONTAXABLE "DE MINIMIS" FRINGE BENEFIT.
Schedule J, Part I, Line 1b Written policy regarding payment or reimbursement of expenses	PLEASE SEE THE DETAILS FOR EACH LINE ITEM OF 1A ABOVE.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan	DURING CALENDAR YEAR 2014, THE UNIVERSITY CONTRIBUTED $200,000 TO PRESIDENT FAUST'S DEFERRED COMPENSATION ACCOUNT. THE $200,000 IS REPORTED ON SCHEDULE J, PART II, COLUMN (C), "RETIREMENT AND OTHER DEFERRED COMPENSATION". THE AMOUNT FULLY VESTED IN CALENDAR YEAR 2015. PER THE 990 INSTRUCTIONS, THE AMOUNT WILL BE REPORTED AS TAXABLE INCOME TO THE PRESIDENT IN NEXT YEAR'S FORM 990 (FY2016).

Schedule J (Form 990) 2014

Additional Data

Software ID:	14000329
Software Version:	2014v1.0

- TIN:

Schedule K
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Information on Tax Exempt Bonds

Complete if the organization answered "Yes" to Form 990, Part IV, line 24a. Provide descriptions,
explanations, and any additional information in Part VI.
SchKMediumBullet

Attach to Form 990.
SchKMediumBullet

Information about Schedule K (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public
Inspection

Name of the organization
President and Fellows of Harvard College

Employer identification number
04-2103580

Part I

Bond Issues

(a) Issuer name		(b) Issuer EIN	(c) CUSIP #	(d) Date issued	(e) Issue price	(f) Description of purpose	(g) Defeased		(h) On behalf of issuer		(i) Pool financing
(a) Issuer name		(b) Issuer EIN	(c) CUSIP #	(d) Date issued	(e) Issue price	(f) Description of purpose	Yes	No	Yes	No	Yes	No
A	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57585KGP7	01-15-2004	103,670,000	SERIES R 1-5 (SEE PART VI)		X		X		X
B	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57585KGP7	04-14-2005	13,490,000	SERIES R 6 (SEE PART VI)		X		X		X
C	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57585KGP7	04-03-2006	14,040,000	SERIES R 7 (SEE PART VI)		X		X		X
D	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57586CFV2	05-18-2005	199,814,639	SERIES 2005A/B (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57586CNN1	12-15-2005	130,469,345	SERIES 2005C (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	MULTIPLES	12-21-2007	1,000,000,000	SERIES 2007EE (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57586C6U4	06-10-2008	216,886,431	SERIES 2008B (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57586EDD0	01-07-2009	987,282,950	SERIES 2009A (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	MULTIPLES	07-22-2009	1,000,000,000	SERIES 2009EE (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57586EQE4	01-20-2010	531,814,469	SERIES 2010A (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57583R5Q4	11-17-2010	663,862,239	SERIES 2010B (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	MULTIPLES	08-08-2012	1,000,000,000	SERIES 2012EE (SEE PART VI)		X		X		X

Part II

Proceeds

	A		B		C		D
	1 Amount of bonds retired . . . . . . . . . . . . . .	0		0		0		0
2 Amount of bonds legally defeased . . . . . . . . . . .	0		0		0		0
3 Total proceeds of issue . . . . . . . . . . . . . .	103,670,000		13,491,079		14,043,650		200,761,080
4 Gross proceeds in reserve funds . . . . . . . . . . . .	0		0		0		0
5 Capitalized interest from proceeds . . . . . . . . . . .	0		0		0		0
6 Proceeds in refunding escrows . . . . . . . . . . . .	0		0		0		0
7 Issuance costs from proceeds . . . . . . . . . . . .	0		0		0		1,059,385
8 Credit enhancement from proceeds . . . . . . . . . . .	0		0		0		0
9 Working capital expenditures from proceeds . . . . . . . . .	0		0		0		0
10 Capital expenditures from proceeds . . . . . . . . . . .	0		0		0		6,740,000
11 Other spent proceeds . . . . . . . . . . . . . .	103,670,000		13,491,079		14,043,650		192,961,696
12 Other unspent proceeds . . . . . . . . . . . . . .	0		0		0		0
13 Year of substantial completion . . . . . . . . . . . .	2007		2014		2008		2007
	Yes	No	Yes	No	Yes	No	Yes	No
14 Were the bonds issued as part of a current refunding issue? . . . . .	X		X		X		X
15 Were the bonds issued as part of an advance refunding issue? . . . . .		X		X		X		X
16 Has the final allocation of proceeds been made? . . . . . . . .	X		X		X		X
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? . . . . . . . . . . . . . .	X		X		X		X

Part III

Private Business Use

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? . . . . . . .		X		X		X		X
2 Are there any lease arrangements that may result in private business use of bond-financed property? . . . . . . . . .	X			X		X	X

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50193E

Schedule K (Form 990) 2014

Page 2

Part III

Private Business Use (Continued)

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
3a Are there any management or service contracts that may result in private business use of bond-financed property? . . . . . . . . . . . .	X		X		X		X
b If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property?	X		X		X		X
c Are there any research agreements that may result in private business use of bond-financed property? . . . . . . . . . . . . . . .	X		X		X		X
d If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property?	X		X		X		X
4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government . .	0 %		0 %		0.02 %		0 %
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government . . . . . . .	0.26 %		0 %		0 %		0.26 %
6 Total of lines 4 and 5 . . . . . . . . . . . . .	0 %		0 %		0 %		0.26 %
7 Does the bond issue meet the private security or payment test? . . . . .		X		X		X		X
8a Has there been a sale or disposition of any of the bond-financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?. . . . . . . . . . . . . . . . .		X		X		X		X
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of.
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? . . . . . . . . . . . . .
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under Regulations sections 1.141-12 and 1.145-2? . . . . . . .	X		X		X		X

Part IV

Arbitrage

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
1 Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate? . .		X		X		X		X
2 If "No" to line 1, did the following apply? . . . .
a Rebate not due yet? . . . . . . . .		X		X		X		X
b Exception to rebate? . . . . . . . .	X		X		X		X
c No rebate due? . . . . . . . .		X		X		X		X
If "Yes" to line 2c, provide in Part VI the date the rebate computation was performed . . . . . .
3 Is the bond issue a variable rate issue? . . . .	X		X		X			X
4a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?		X		X		X		X
b Name of provider . . . . . . . . .
c Term of hedge . . . . . . . . . .
d Was the hedge superintegrated? . . . .
e Was the hedge terminated? . . . . . .

Schedule K (Form 990) 2014

Page 3

Part IV

Arbitrage (Continued)

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
5a Were gross proceeds invested in a guaranteed investment contract (GIC)? . . . . . . . . .		X		X		X		X
b Name of provider . . . . . . . . .
c Term of GIC . . . . . . . . . .
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? . . . . .
6 Were any gross proceeds invested beyond an available temporary period? . . . . . . . .		X		X		X		X
7 Has the organization established written procedures to monitor the requirements of section 148? . . .	X		X		X		X

Part V

Procedures To Undertake Corrective Action

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations?	X		X		X		X

Part VI

Supplemental Information. Provide additional information for responses to questions on Schedule K (see instructions).

Return Reference	Explanation
Schedule K, Part I BOND ISSUES:	COLUMNS A AND B (GENERAL NOTE): THE MASSACHUSETTS HEALTH AND EDUCATIONAL FACILITIES AUTHORITY (EIN: 04-2456011) WAS THE ORIGINAL ISSUER OF THE FOLLOWING ISSUES LISTED ON THIS SCHEDULE: SERIES R 1-5, SERIES R 6, SERIES R 7, SERIES 2005A/B, SERIES 2005C, SERIES 2007EE, SERIES 2008B, SERIES 2009A, SERIES 2009EE, AND SERIES 2010A. IT WAS MERGED INTO THE MASSACHUSETTS DEVELOPMENT FINANCE AGENCY (EIN: 04-3431814) ON OCTOBER 1, 2010. ROW A (SERIES R 1-5), COLUMN F: SERIES R, TRANCHE 1-5 WAS ISSUED TO REFUND PORTIONS OF THE FOLLOWING BOND ISSUES WHICH WERE ISSUED ON THE FOLLOWING DATES: SERIES A (7/1/72), SERIES B (7/1/73), SERIES C (4/7/76), SERIES D (6/23/77), SERIES I (5/7/85), SERIES M (2/6/91),SERIES N (9/1/91), SERIES P (6/13/95), SERIES Q-1 (8/29/96), SERIES Q-2 (9/2/97), SERIES Q-3 (9/15/98), SERIES Z (10/1/00), AND SERIES AA (10/4/01). ROW B (SERIES R 6), COLUMN F: SERIES R, TRANCHE 6 WAS ISSUED TO REFUND PORTIONS OF THE FOLLOWING BOND ISSUES WHICH WERE ISSUED ON THE FOLLOWING DATES: SERIES P (6/13/95), SERIES Z (10/1/00), AND SERIES AA (10/4/01). ROW C (SERIES R 7), COLUMN F: SERIES R, TRANCHE 7 WAS ISSUED TO REFUND PORTIONS OF THE FOLLOWING BOND ISSUES WHICH WERE ISSUED ON THE FOLLOWING DATES: SERIES P (6/13/95), SERIES Z (10/1/00), AND SERIES AA (10/4/01). ROW D (SERIES 2005A/B), COLUMN F: SERIES 2005A WAS ISSUED TO REFUND TAX-EXEMPT COMMERCIAL PAPER ISSUED ON 12/18/03, AND TO FINANCE CAPITAL EXPENDITURES OF THE UNIVERSITY RELATING TO THE HARVARD DEPOSITORY, SOUTHBOROUGH, AND THE WIDENER LIBRARY, CAMBRIDGE. SERIES 2005B WAS ISSUED TO REFUND SERIES P, ISSUED 6/13/95. ROW A (SERIES 2005C), COLUMN F: SERIES 2005C WAS ISSUED TO REFUND TAX-EXEMPT COMMERCIAL PAPER ISSUED ON 9/5/02 AND ON 12/18/03. ROW B (SERIES 2007EE), COLUMN C: SERIES 2007EE CONSISTED OF TAX-EXEMPT COMMERCIAL PAPER, AND THUS WAS REPRESENTED BY MULTIPLE CUSIPS. ROW B (SERIES 2007EE), COLUMN E: SERIES 2007EE CONSISTED OF TAX-EXEMPT COMMERCIAL PAPER, WITH AN AUTHORIZED AMOUNT OF $1,000,000,000. APPROXIMATELY $229 MILLION WAS OUTSTANDING ON 6/30/15. ROW B (SERIES 2007EE), COLUMN F: SERIES 2007EE, CONSISTING OF TAX-EXEMPT COMMERCIAL PAPER, WAS ISSUED TO PROVIDE SHORT-TERM FINANCING FOR THE FOLLOWING CAPITAL EXPENDITURES OF THE UNIVERSITY: (I) CONSTRUCTION OF A BUILDING FOR THE ARNOLD ARBORETUM FOR RESEARCH AND ADMINISTRATION LOCATED AT WELD HILL, 1300 CENTRE STREET, BOSTON; (II) INSTALLATION OF A SATELLITE CHILLED WATER PLANT AND AN ELECTRICAL SUBSTATION LOCATED ON THE EAST SIDE OF OXFORD STREET BETWEEN HAMMOND AND KIRKLAND STREETS, CAMBRIDGE; (III) A RENOVATION OF BUILDING SPACE AT 46 BLACKSTONE STREET, CAMBRIDGE AND A BOILER REPLACEMENT AND ANCILLARY SYSTEM UPGRADE IN THE BLACKSTONE PLANT LOCATED AT THE SAME SITE (THE CORNER OF MEMORIAL DRIVE AND WESTERN AVENUE, CAMBRIDGE); (IV) AN UNDERGROUND PARKING FACILITY LOCATED AT 6-8 EVERETT STREET, CAMBRIDGE; (V) INSTALLATION OF UNDERGROUND PIPES AND WIRES IN THE HARVARD LAW SCHOOL AREA, WEST OF OXFORD STREET BETWEEN EVERETT STREET AND KIRKLAND STREET, CAMBRIDGE; (VI) RENOVATION OF ROCKEFELLER HALL, 47 FRANCIS AVENUE, CAMBRIDGE; (VII) RENOVATIONS AND UTILITY INFRASTRUCTURE UPGRADES AT HARVARD LAW SCHOOL, 1585 MASSACHUSETTS AVE, CAMBRIDGE; (VIII) RENOVATION OF THE FIRE ALARM AND SPRINKLER SYSTEM, ROOF, AND ROOM INTERIORS AT RESIDENTIAL BUILDINGS IN THE HARVARD LAW SCHOOL AREA, 16-22 EVERETT STREET, CAMBRIDGE; (IX) RENOVATION AND EXTERIOR RESTORATION OF BYERLY HALL, 6-8 GARDEN STREET, CAMBRIDGE; (X) A RENOVATION OF THE MALKIN ATHLETIC CENTER, 39 HOLYOKE STREET, CAMBRIDGE; (XI) CONSTRUCTION AND EQUIPPING OF THE LABORATORY FOR INTERFACE SCIENCE AND ENGINEERING, 15 OXFORD STREET, CAMBRIDGE; (XII) CONSTRUCTION OF A RESEARCH FACILITY LOCATED AT 16 DIVINITY AVENUE, CAMBRIDGE; (XIII) AN ADDITION TO THE NEW COLLEGE THEATRE, 10-12 HOLYOKE STREET, CAMBRIDGE; (XIV) CONSTRUCTION OF THE NORTHWEST BUILDING, A SCIENCE FACILITY AT 52 OXFORD STREET, CAMBRIDGE; (XV) RENOVATION AND EXTERIOR RESTORATION OF GALLATIN HALL, 24 HARVARD WAY, BOSTON; (XVI) CLASSROOM RENOVATIONS AT THE MCCOLLUM CENTER, 47 HARVARD WAY, BOSTON; (XVII) RENOVATION OF BUILDINGS AT 641 AND 643 HUNTINGTON AVENUE, BOSTON; (XVIII) CONSTRUCTION OF A HOUSING DEVELOPMENT AT 387 WESTERN AVENUE, 28 HINGHAM STREET AND 30 HINGHAM STREET, CAMBRIDGE; (XIX) CONSTRUCTION OF THE ALLSTON SCIENCE COMPLEX, INCLUDING A PARKING FACILITY AND AN ENERGY FACILITY AT 150 WESTERN AVENUE, BOSTON; (XX) DESIGN FOR NEW INFRASTRUCTURE SYSTEMS FOR UTILITIES TUNNELS, MATERIALS HANDLING TUNNELS, WATER UTILITIES, WASTEWATER SYSTEMS, AND TRANSMISSION SUBSTATION TO SUPPORT THE ALLSTON CAMPUS, BOSTON; AND (XXI) A RENOVATION OF THE BUILDING FIRE SPRINKLER AND FIRE ALARM AT DUNSTER HOUSE, 945 MEMORIAL DRIVE, CAMBRIDGE. ROW C (SERIES 2008B), COLUMN F: SERIES 2008B WAS ISSUED TO REFUND TAX-EXEMPT COMMERCIAL PAPER ISSUED ON 3/9/06 AND 12/21/07, AND TO REFINANCE CAPITAL EXPENDITURES OF THE UNIVERSITY RELATING TO QUINCY HOUSE, 58 PLYMPTON STREET, CAMBRIDGE. ROW D (SERIES 2009A), COLUMN F: SERIES 2009A WAS ISSUED TO REFUND TAX-EXEMPT COMMERCIAL PAPER ISSUED ON 3/9/06 AND 12/21/07, AND TO REFUND SERIES GG-1, ISSUED 7/1/04, AND SERIES 2006B, ISSUED 7/20/06 AND PAY RELATED COSTS. ROW A (SERIES 2009EE), COLUMN C: SERIES 2009EE CONSISTED OF TAX-EXEMPT COMMERCIAL PAPER, AND THUS WAS REPRESENTED BY MULTIPLE CUSIPS. ROW A (SERIES 2009EE), COLUMN E: SERIES 2009EE CONSISTED OF TAX-EXEMPT COMMERCIAL PAPER, WITH AN AUTHORIZED AMOUNT OF $1,000,000,000. APPROXIMATELY $60 MILLION WAS OUTSTANDING ON 6/30/15. ROW A (SERIES 2009EE), COLUMN F: SERIES 2009EE, CONSISTING OF TAX-EXEMPT COMMERCIAL PAPER, WAS ISSUED TO PROVIDE SHORT-TERM FINANCING FOR THE FOLLOWING CAPITAL EXPENDITURES OF THE UNIVERSITY: (I) CONSTRUCTION OF A BUILDING FOR THE ARNOLD ARBORETUM FOR RESEARCH AND ADMINISTRATION LOCATED AT WELD HILL, 1300 CENTRE STREET, BOSTON; (II) AN UNDERGROUND PARKING FACILITY LOCATED AT 6-8 EVERETT STREET, CAMBRIDGE; (III) INSTALLATION OF A SATELLITE CHILLED WATER PLANT AND AN ELECTRICAL SUBSTATION LOCATED ON THE EAST SIDE OF OXFORD STREET BETWEEN HAMMOND AND KIRKLAND STREETS, CAMBRIDGE; (IV) RENOVATION OF ROCKEFELLER HALL, 47 FRANCIS AVENUE, CAMBRIDGE; (V) CONSTRUCTION OF A BUILDING AND RELATED RENOVATIONS AND UTILITY INFRASTRUCTURE UPGRADES AT HARVARD LAW SCHOOL, 1585 MASSACHUSETTS AVE, CAMBRIDGE; (VI) LIFE SAFETY FIRE SYSTEM UPGRADES, OTHER RENOVATIONS, AND STRATEGIC PLANNING FOR ADDITIONAL RENEWAL AND RENOVATIONS AT STUDENT RESIDENCES LOCATED AT 45 FLAGG STREET, 10 HOLYOKE PLACE, 56 PLYMPTON STREET, 10 LINDEN STREET, 13-21 & 53 BOW STREET, 26 PLYMPTON STREET, 966 MEMORIAL DRIVE, 967 MEMORIAL DRIVE, 35-39 OXFORD STREET, 36 OXFORD STREET, 1651 MASSACHUSETTS AVENUE, AND 1533-1544 MASSACHUSETTS AVENUE, CAMBRIDGE; (VII) CONSTRUCTION AND EQUIPPING OF THE LABORATORY FOR INTERFACE SCIENCE AND ENGINEERING, 15 OXFORD STREET, CAMBRIDGE; (VIII) AN ADDITION TO THE NEW COLLEGE THEATRE, 10-12 HOLYOKE STREET, CAMBRIDGE; (IX) CONSTRUCTION OF THE NORTHWEST BUILDING, A SCIENCE FACILITY AT 52 OXFORD STREET, CAMBRIDGE; (X) RENOVATIONS TO EXPAND TEACHING LAB SPACE IN THE NORTHWEST BUILDING, 52 OXFORD STREET, CAMBRIDGE; (XI) ROOF, LIFE SAFETY, AND INFRASTRUCTURE UPGRADES TO PERKINS HALL, 35-39 OXFORD STREET, CAMBRIDGE; (XII) COSMETIC, ROOF, INFRASTRUCTURE AND LIFE SAFETY UPGRADES TO BAKER HALL, 45 HARVARD WAY, BOSTON; (XIII) RENOVATION OF BUILDINGS AT 641 AND 643 HUNTINGTON AVENUE, BOSTON; (XIV) A RENOVATION OF OFFICE SPACE IN GORDON HALL, 25 SHATTUCK STREET, BOSTON; AND (XV) CONSTRUCTION OF THE ALLSTON SCIENCE COMPLEX, INCLUDING A PARKING FACILITY AND AN ENERGY FACILITY AT 150 WESTERN AVENUE, BOSTON. ROW B (SERIES 2010A), COLUMN F: SERIES 2010A WAS ISSUED TO REFUND TAX-EXEMPT COMMERCIAL PAPER ISSUED ON 3/9/06, 12/21/07 AND 7/22/09; TO REFUND PORTIONS OF SERIES Z, ISSUED 11/9/00, AND SERIES FF, ISSUED 7/24/02 AND PAY RELATED COSTS; AND TO FINANCE THE FOLLOWING CAPITAL EXPENDITURES OF THE UNIVERSITY: (I) CONSTRUCTION OF A BUILDING AND RELATED RENOVATIONS AND UTILITY INFRASTRUCTURE UPGRADES AT HARVARD LAW SCHOOL, 1585 MASSACHUSETTS AVE, CAMBRIDGE; (II) A RENOVATION OF BUILDING SPACE AND A BOILER REPLACEMENT AND ANCILLARY SYSTEM UPGRADE IN THE BLACKSTONE PLANT, 46 BLACKSTONE STREET, CAMBRIDGE; (III) A RETROFIT OF EXISTING HVAC SYSTEMS FOR LARSEN HALL, 14 APPIAN WAY, CAMBRIDGE; (IV) MAINTENANCE AND TOWER RESTORATION AT LOWELL HOUSE, 10 HOLYOKE PLACE, CAMBRIDGE; (V) RENOVATION OF ADMINISTRATIVE OFFICE AND CLASSROOM SPACE IN PIERCE HALL, 25 OXFORD STREET, CAMBRIDGE; AND (VI) RENOVATION, RECONSTRUCTION, AND EXPANSION OF HARVARD UNIVERSITY ART MUSEUMS, 32 QUINCY STREET, CAMBRIDGE.
Schedule K, Part I, Column (f) BOND ISSUES (CONTINUED):	ROW C (SERIES 2010B), COLUMN F: SERIES 2010B WAS ISSUED TO REFUND TAX-EXEMPT COMMERCIAL PAPER ISSUED ON 12/21/07 AND 7/22/09; TO REFUND SERIES L, ISSUED 10/4/89, SERIES BB, ISSUED 11/9/00, AND SERIES HH, ISSUED 10/29/03, AND PORTIONS OF SERIES FF, ISSUED 7/24/02 AND PAY RELATED COSTS; AND TO FINANCE THE FOLLOWING CAPITAL EXPENDITURES OF THE UNIVERSITY: (I) CONSTRUCTION OF A BUILDING AND RELATED RENOVATIONS AND UTILITY INFRASTRUCTURE UPGRADES AT HARVARD LAW SCHOOL, 1585 MASSACHUSETTS AVE, CAMBRIDGE; (II) RENOVATION, RECONSTRUCTION, AND EXPANSION OF HARVARD UNIVERSITY ART MUSEUMS, 32 QUINCY STREET, CAMBRIDGE; (III) UTILITY INFRASTRUCTURE UPGRADES AT HARVARD LAW SCHOOL, 1585 MASSACHUSETTS AVE, CAMBRIDGE; (IV) RENOVATIONS AND ADDITIONS AT THE HARVARD DEPOSITORY, 1 PINE HILL DRIVE, SOUTHBOROUGH; (V) RENOVATION OF ADMINISTRATIVE OFFICE SPACE IN HOLYOKE CENTER, 1350 MASSACHUSETTS AVENUE, CAMBRIDGE; (VI) RENEWAL AND RENOVATIONS AT WINTHROP HOUSE, 8 MILL STREET, CAMBRIDGE; AND (VII) MAINTENANCE AND TOWER RESTORATION AT ADAMS HOUSE, 10 LINDEN STREET, 13-21 & 53 BOW STREET, AND 26 PLYMPTON STREET, CAMBRIDGE. ROW D (SERIES 2012EE), COLUMN C: SERIES 2012EE CONSISTED OF TAX-EXEMPT COMMERCIAL PAPER, AND THUS WAS REPRESENTED BY MULTIPLE CUSIPS. ROW D (SERIES 2012EE), COLUMN E: SERIES 2012EE CONSISTED OF TAX-EXEMPT COMMERCIAL PAPER, WITH AN AUTHORIZED AMOUNT OF $1,000,000,000. $564,000 WAS OUTSTANDING ON 6/30/15. ROW D (SERIES 2012EE), COLUMN F: SERIES 2012EE, CONSISTING OF TAX-EXEMPT COMMERCIAL PAPER, WAS ISSUED TO PROVIDE SHORT-TERM FINANCING FOR THE FOLLOWING CAPITAL EXPENDITURES OF THE UNIVERSITY: (I) CONSTRUCTION OF A BUILDING FOR THE ARNOLD ARBORETUM FOR RESEARCH AND ADMINISTRATION LOCATED AT WELD HILL, 1300 CENTRE STREET, BOSTON.
Schedule K, Part II PROCEEDS:	LINE 3 (GENERAL NOTE): THE DIFFERENCE BETWEEN AMOUNTS REPORTED IN LINE 3 AND IN COLUMN E OF PART I REPRESENTS INVESTMENT EARNINGS, EXCEPT IN THE CASE OF THE COMMERCIAL PAPER ISSUES (SERIES 2007EE, 2009EE, AND 2012EE), FOR WHICH LINE 3 REPRESENTS THE BALANCE OUTSTANDING ON JUNE 30, 2015 AND COLUMN E OF PART I REPRESENTS THE FULL AUTHORIZED AMOUNT OF THE COMMERCIAL PAPER PROGRAM.
Schedule K, Part II, Line 13 COLUMN B (SERIES 2007EE):	ONE OR MORE PROJECTS FINANCED BY THIS BOND SERIES WAS NOT SUBSTANTIALLY COMPLETE AS OF JUNE 30, 2015, ALTHOUGH ALL PROCEEDS DRAWN FOR THE PROJECT HAVE PREVIOUSLY BEEN SPENT.
Schedule K, Part II, Line 13 COLUMN A (SERIES 2009EE):	ONE OR MORE PROJECTS FINANCED BY THIS BOND SERIES WAS NOT SUBSTANTIALLY COMPLETE AS OF JUNE 30, 2015, ALTHOUGH ALL PROCEEDS DRAWN FOR THE PROJECT HAVE PREVIOUSLY BEEN SPENT.
Schedule K, Part III PRIVATE BUSINESS USE:	SERIES R1-5, R6, AND R7: THESE BONDS WERE ISSUED SOLELY TO REFUND PRE-JANUARY 1, 2003 ISSUES AND ARE NOT SUBJECT TO PART III REPORTING.
Schedule K, Part IV ARBITRAGE:	LINE 2C (SERIES 2007EE, 2009EE, 2012EE): NO REBATE COMPUTATION WAS NEEDED IN RELATION TO THE UNIVERSITY'S COMMERCIAL PAPER SERIES BECAUSE NO PROCEEDS WERE INVESTED PRIOR TO BEING SPENT. LINE 2C (SERIES 2010A): THE REBATE COMPUTATION WAS PERFORMED IN AUGUST 2014 AS OF JUNE 30, 2014. NO REBATE WAS DUE. LINE 2C (SERIES 2010B): THE REBATE COMPUTATION WAS PERFORMED IN AUGUST 2015 AS OF JUNE 30, 2015. NO REBATE WAS DUE. LINE 6 (SERIES 2010B): "YES" RESPONSE REFLECTS AMOUNTS REMAINING IN THE PROJECT FUND BEYOND THE TEMPORARY PERIOD; AMOUNTS WERE HELD AND INVESTED IN COMPLIANCE WITH ARBITRAGE RESTRICTIONS.
Schedule K, Part IV, Line 2c Rebate Calculation	Issuer name: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY The calculation for computing no rebate due was performed on 06/30/2014
Schedule K, Part IV, Line 2c Rebate Calculation	Issuer name: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY The calculation for computing no rebate due was performed on 06/30/2015

Schedule K (Form 990) 2014

Additional Data

Software ID:	14000329
Software Version:	2014v1.0

- TIN:

Schedule K
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Information on Tax Exempt Bonds

Complete if the organization answered "Yes" to Form 990, Part IV, line 24a. Provide descriptions,
explanations, and any additional information in Part VI.
SchKMediumBullet

Attach to Form 990.
SchKMediumBullet

Information about Schedule K (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public
Inspection

Name of the organization
President and Fellows of Harvard College

Employer identification number
04-2103580

Part I

Bond Issues

(a) Issuer name		(b) Issuer EIN	(c) CUSIP #	(d) Date issued	(e) Issue price	(f) Description of purpose	(g) Defeased		(h) On behalf of issuer		(i) Pool financing
(a) Issuer name		(b) Issuer EIN	(c) CUSIP #	(d) Date issued	(e) Issue price	(f) Description of purpose	Yes	No	Yes	No	Yes	No
A	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57585KGP7	01-15-2004	103,670,000	SERIES R 1-5 (SEE PART VI)		X		X		X
B	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57585KGP7	04-14-2005	13,490,000	SERIES R 6 (SEE PART VI)		X		X		X
C	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57585KGP7	04-03-2006	14,040,000	SERIES R 7 (SEE PART VI)		X		X		X
D	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57586CFV2	05-18-2005	199,814,639	SERIES 2005A/B (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57586CNN1	12-15-2005	130,469,345	SERIES 2005C (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	MULTIPLES	12-21-2007	1,000,000,000	SERIES 2007EE (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57586C6U4	06-10-2008	216,886,431	SERIES 2008B (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57586EDD0	01-07-2009	987,282,950	SERIES 2009A (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	MULTIPLES	07-22-2009	1,000,000,000	SERIES 2009EE (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57586EQE4	01-20-2010	531,814,469	SERIES 2010A (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57583R5Q4	11-17-2010	663,862,239	SERIES 2010B (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	MULTIPLES	08-08-2012	1,000,000,000	SERIES 2012EE (SEE PART VI)		X		X		X

Part II

Proceeds

	A		B		C		D
	1 Amount of bonds retired . . . . . . . . . . . . . .	0		0		0		0
2 Amount of bonds legally defeased . . . . . . . . . . .	0		0		0		0
3 Total proceeds of issue . . . . . . . . . . . . . .	103,670,000		13,491,079		14,043,650		200,761,080
4 Gross proceeds in reserve funds . . . . . . . . . . . .	0		0		0		0
5 Capitalized interest from proceeds . . . . . . . . . . .	0		0		0		0
6 Proceeds in refunding escrows . . . . . . . . . . . .	0		0		0		0
7 Issuance costs from proceeds . . . . . . . . . . . .	0		0		0		1,059,385
8 Credit enhancement from proceeds . . . . . . . . . . .	0		0		0		0
9 Working capital expenditures from proceeds . . . . . . . . .	0		0		0		0
10 Capital expenditures from proceeds . . . . . . . . . . .	0		0		0		6,740,000
11 Other spent proceeds . . . . . . . . . . . . . .	103,670,000		13,491,079		14,043,650		192,961,696
12 Other unspent proceeds . . . . . . . . . . . . . .	0		0		0		0
13 Year of substantial completion . . . . . . . . . . . .	2007		2014		2008		2007
	Yes	No	Yes	No	Yes	No	Yes	No
14 Were the bonds issued as part of a current refunding issue? . . . . .	X		X		X		X
15 Were the bonds issued as part of an advance refunding issue? . . . . .		X		X		X		X
16 Has the final allocation of proceeds been made? . . . . . . . .	X		X		X		X
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? . . . . . . . . . . . . . .	X		X		X		X

Part III

Private Business Use

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? . . . . . . .		X		X		X		X
2 Are there any lease arrangements that may result in private business use of bond-financed property? . . . . . . . . .	X			X		X	X

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50193E

Schedule K (Form 990) 2014

Page 2

Part III

Private Business Use (Continued)

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
3a Are there any management or service contracts that may result in private business use of bond-financed property? . . . . . . . . . . . .	X		X		X		X
b If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property?	X		X		X		X
c Are there any research agreements that may result in private business use of bond-financed property? . . . . . . . . . . . . . . .	X		X		X		X
d If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property?	X		X		X		X
4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government . .	0 %		0 %		0.02 %		0 %
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government . . . . . . .	0.26 %		0 %		0 %		0.26 %
6 Total of lines 4 and 5 . . . . . . . . . . . . .	0 %		0 %		0 %		0.26 %
7 Does the bond issue meet the private security or payment test? . . . . .		X		X		X		X
8a Has there been a sale or disposition of any of the bond-financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?. . . . . . . . . . . . . . . . .		X		X		X		X
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of.
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? . . . . . . . . . . . . .
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under Regulations sections 1.141-12 and 1.145-2? . . . . . . .	X		X		X		X

Part IV

Arbitrage

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
1 Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate? . .		X		X		X		X
2 If "No" to line 1, did the following apply? . . . .
a Rebate not due yet? . . . . . . . .		X		X		X		X
b Exception to rebate? . . . . . . . .	X		X		X		X
c No rebate due? . . . . . . . .		X		X		X		X
If "Yes" to line 2c, provide in Part VI the date the rebate computation was performed . . . . . .
3 Is the bond issue a variable rate issue? . . . .	X		X		X			X
4a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?		X		X		X		X
b Name of provider . . . . . . . . .
c Term of hedge . . . . . . . . . .
d Was the hedge superintegrated? . . . .
e Was the hedge terminated? . . . . . .

Schedule K (Form 990) 2014

Page 3

Part IV

Arbitrage (Continued)

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
5a Were gross proceeds invested in a guaranteed investment contract (GIC)? . . . . . . . . .		X		X		X		X
b Name of provider . . . . . . . . .
c Term of GIC . . . . . . . . . .
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? . . . . .
6 Were any gross proceeds invested beyond an available temporary period? . . . . . . . .		X		X		X		X
7 Has the organization established written procedures to monitor the requirements of section 148? . . .	X		X		X		X

Part V

Procedures To Undertake Corrective Action

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations?	X		X		X		X

Part VI

Supplemental Information. Provide additional information for responses to questions on Schedule K (see instructions).

Return Reference	Explanation
Schedule K, Part I BOND ISSUES:	COLUMNS A AND B (GENERAL NOTE): THE MASSACHUSETTS HEALTH AND EDUCATIONAL FACILITIES AUTHORITY (EIN: 04-2456011) WAS THE ORIGINAL ISSUER OF THE FOLLOWING ISSUES LISTED ON THIS SCHEDULE: SERIES R 1-5, SERIES R 6, SERIES R 7, SERIES 2005A/B, SERIES 2005C, SERIES 2007EE, SERIES 2008B, SERIES 2009A, SERIES 2009EE, AND SERIES 2010A. IT WAS MERGED INTO THE MASSACHUSETTS DEVELOPMENT FINANCE AGENCY (EIN: 04-3431814) ON OCTOBER 1, 2010. ROW A (SERIES R 1-5), COLUMN F: SERIES R, TRANCHE 1-5 WAS ISSUED TO REFUND PORTIONS OF THE FOLLOWING BOND ISSUES WHICH WERE ISSUED ON THE FOLLOWING DATES: SERIES A (7/1/72), SERIES B (7/1/73), SERIES C (4/7/76), SERIES D (6/23/77), SERIES I (5/7/85), SERIES M (2/6/91),SERIES N (9/1/91), SERIES P (6/13/95), SERIES Q-1 (8/29/96), SERIES Q-2 (9/2/97), SERIES Q-3 (9/15/98), SERIES Z (10/1/00), AND SERIES AA (10/4/01). ROW B (SERIES R 6), COLUMN F: SERIES R, TRANCHE 6 WAS ISSUED TO REFUND PORTIONS OF THE FOLLOWING BOND ISSUES WHICH WERE ISSUED ON THE FOLLOWING DATES: SERIES P (6/13/95), SERIES Z (10/1/00), AND SERIES AA (10/4/01). ROW C (SERIES R 7), COLUMN F: SERIES R, TRANCHE 7 WAS ISSUED TO REFUND PORTIONS OF THE FOLLOWING BOND ISSUES WHICH WERE ISSUED ON THE FOLLOWING DATES: SERIES P (6/13/95), SERIES Z (10/1/00), AND SERIES AA (10/4/01). ROW D (SERIES 2005A/B), COLUMN F: SERIES 2005A WAS ISSUED TO REFUND TAX-EXEMPT COMMERCIAL PAPER ISSUED ON 12/18/03, AND TO FINANCE CAPITAL EXPENDITURES OF THE UNIVERSITY RELATING TO THE HARVARD DEPOSITORY, SOUTHBOROUGH, AND THE WIDENER LIBRARY, CAMBRIDGE. SERIES 2005B WAS ISSUED TO REFUND SERIES P, ISSUED 6/13/95. ROW A (SERIES 2005C), COLUMN F: SERIES 2005C WAS ISSUED TO REFUND TAX-EXEMPT COMMERCIAL PAPER ISSUED ON 9/5/02 AND ON 12/18/03. ROW B (SERIES 2007EE), COLUMN C: SERIES 2007EE CONSISTED OF TAX-EXEMPT COMMERCIAL PAPER, AND THUS WAS REPRESENTED BY MULTIPLE CUSIPS. ROW B (SERIES 2007EE), COLUMN E: SERIES 2007EE CONSISTED OF TAX-EXEMPT COMMERCIAL PAPER, WITH AN AUTHORIZED AMOUNT OF $1,000,000,000. APPROXIMATELY $229 MILLION WAS OUTSTANDING ON 6/30/15. ROW B (SERIES 2007EE), COLUMN F: SERIES 2007EE, CONSISTING OF TAX-EXEMPT COMMERCIAL PAPER, WAS ISSUED TO PROVIDE SHORT-TERM FINANCING FOR THE FOLLOWING CAPITAL EXPENDITURES OF THE UNIVERSITY: (I) CONSTRUCTION OF A BUILDING FOR THE ARNOLD ARBORETUM FOR RESEARCH AND ADMINISTRATION LOCATED AT WELD HILL, 1300 CENTRE STREET, BOSTON; (II) INSTALLATION OF A SATELLITE CHILLED WATER PLANT AND AN ELECTRICAL SUBSTATION LOCATED ON THE EAST SIDE OF OXFORD STREET BETWEEN HAMMOND AND KIRKLAND STREETS, CAMBRIDGE; (III) A RENOVATION OF BUILDING SPACE AT 46 BLACKSTONE STREET, CAMBRIDGE AND A BOILER REPLACEMENT AND ANCILLARY SYSTEM UPGRADE IN THE BLACKSTONE PLANT LOCATED AT THE SAME SITE (THE CORNER OF MEMORIAL DRIVE AND WESTERN AVENUE, CAMBRIDGE); (IV) AN UNDERGROUND PARKING FACILITY LOCATED AT 6-8 EVERETT STREET, CAMBRIDGE; (V) INSTALLATION OF UNDERGROUND PIPES AND WIRES IN THE HARVARD LAW SCHOOL AREA, WEST OF OXFORD STREET BETWEEN EVERETT STREET AND KIRKLAND STREET, CAMBRIDGE; (VI) RENOVATION OF ROCKEFELLER HALL, 47 FRANCIS AVENUE, CAMBRIDGE; (VII) RENOVATIONS AND UTILITY INFRASTRUCTURE UPGRADES AT HARVARD LAW SCHOOL, 1585 MASSACHUSETTS AVE, CAMBRIDGE; (VIII) RENOVATION OF THE FIRE ALARM AND SPRINKLER SYSTEM, ROOF, AND ROOM INTERIORS AT RESIDENTIAL BUILDINGS IN THE HARVARD LAW SCHOOL AREA, 16-22 EVERETT STREET, CAMBRIDGE; (IX) RENOVATION AND EXTERIOR RESTORATION OF BYERLY HALL, 6-8 GARDEN STREET, CAMBRIDGE; (X) A RENOVATION OF THE MALKIN ATHLETIC CENTER, 39 HOLYOKE STREET, CAMBRIDGE; (XI) CONSTRUCTION AND EQUIPPING OF THE LABORATORY FOR INTERFACE SCIENCE AND ENGINEERING, 15 OXFORD STREET, CAMBRIDGE; (XII) CONSTRUCTION OF A RESEARCH FACILITY LOCATED AT 16 DIVINITY AVENUE, CAMBRIDGE; (XIII) AN ADDITION TO THE NEW COLLEGE THEATRE, 10-12 HOLYOKE STREET, CAMBRIDGE; (XIV) CONSTRUCTION OF THE NORTHWEST BUILDING, A SCIENCE FACILITY AT 52 OXFORD STREET, CAMBRIDGE; (XV) RENOVATION AND EXTERIOR RESTORATION OF GALLATIN HALL, 24 HARVARD WAY, BOSTON; (XVI) CLASSROOM RENOVATIONS AT THE MCCOLLUM CENTER, 47 HARVARD WAY, BOSTON; (XVII) RENOVATION OF BUILDINGS AT 641 AND 643 HUNTINGTON AVENUE, BOSTON; (XVIII) CONSTRUCTION OF A HOUSING DEVELOPMENT AT 387 WESTERN AVENUE, 28 HINGHAM STREET AND 30 HINGHAM STREET, CAMBRIDGE; (XIX) CONSTRUCTION OF THE ALLSTON SCIENCE COMPLEX, INCLUDING A PARKING FACILITY AND AN ENERGY FACILITY AT 150 WESTERN AVENUE, BOSTON; (XX) DESIGN FOR NEW INFRASTRUCTURE SYSTEMS FOR UTILITIES TUNNELS, MATERIALS HANDLING TUNNELS, WATER UTILITIES, WASTEWATER SYSTEMS, AND TRANSMISSION SUBSTATION TO SUPPORT THE ALLSTON CAMPUS, BOSTON; AND (XXI) A RENOVATION OF THE BUILDING FIRE SPRINKLER AND FIRE ALARM AT DUNSTER HOUSE, 945 MEMORIAL DRIVE, CAMBRIDGE. ROW C (SERIES 2008B), COLUMN F: SERIES 2008B WAS ISSUED TO REFUND TAX-EXEMPT COMMERCIAL PAPER ISSUED ON 3/9/06 AND 12/21/07, AND TO REFINANCE CAPITAL EXPENDITURES OF THE UNIVERSITY RELATING TO QUINCY HOUSE, 58 PLYMPTON STREET, CAMBRIDGE. ROW D (SERIES 2009A), COLUMN F: SERIES 2009A WAS ISSUED TO REFUND TAX-EXEMPT COMMERCIAL PAPER ISSUED ON 3/9/06 AND 12/21/07, AND TO REFUND SERIES GG-1, ISSUED 7/1/04, AND SERIES 2006B, ISSUED 7/20/06 AND PAY RELATED COSTS. ROW A (SERIES 2009EE), COLUMN C: SERIES 2009EE CONSISTED OF TAX-EXEMPT COMMERCIAL PAPER, AND THUS WAS REPRESENTED BY MULTIPLE CUSIPS. ROW A (SERIES 2009EE), COLUMN E: SERIES 2009EE CONSISTED OF TAX-EXEMPT COMMERCIAL PAPER, WITH AN AUTHORIZED AMOUNT OF $1,000,000,000. APPROXIMATELY $60 MILLION WAS OUTSTANDING ON 6/30/15. ROW A (SERIES 2009EE), COLUMN F: SERIES 2009EE, CONSISTING OF TAX-EXEMPT COMMERCIAL PAPER, WAS ISSUED TO PROVIDE SHORT-TERM FINANCING FOR THE FOLLOWING CAPITAL EXPENDITURES OF THE UNIVERSITY: (I) CONSTRUCTION OF A BUILDING FOR THE ARNOLD ARBORETUM FOR RESEARCH AND ADMINISTRATION LOCATED AT WELD HILL, 1300 CENTRE STREET, BOSTON; (II) AN UNDERGROUND PARKING FACILITY LOCATED AT 6-8 EVERETT STREET, CAMBRIDGE; (III) INSTALLATION OF A SATELLITE CHILLED WATER PLANT AND AN ELECTRICAL SUBSTATION LOCATED ON THE EAST SIDE OF OXFORD STREET BETWEEN HAMMOND AND KIRKLAND STREETS, CAMBRIDGE; (IV) RENOVATION OF ROCKEFELLER HALL, 47 FRANCIS AVENUE, CAMBRIDGE; (V) CONSTRUCTION OF A BUILDING AND RELATED RENOVATIONS AND UTILITY INFRASTRUCTURE UPGRADES AT HARVARD LAW SCHOOL, 1585 MASSACHUSETTS AVE, CAMBRIDGE; (VI) LIFE SAFETY FIRE SYSTEM UPGRADES, OTHER RENOVATIONS, AND STRATEGIC PLANNING FOR ADDITIONAL RENEWAL AND RENOVATIONS AT STUDENT RESIDENCES LOCATED AT 45 FLAGG STREET, 10 HOLYOKE PLACE, 56 PLYMPTON STREET, 10 LINDEN STREET, 13-21 & 53 BOW STREET, 26 PLYMPTON STREET, 966 MEMORIAL DRIVE, 967 MEMORIAL DRIVE, 35-39 OXFORD STREET, 36 OXFORD STREET, 1651 MASSACHUSETTS AVENUE, AND 1533-1544 MASSACHUSETTS AVENUE, CAMBRIDGE; (VII) CONSTRUCTION AND EQUIPPING OF THE LABORATORY FOR INTERFACE SCIENCE AND ENGINEERING, 15 OXFORD STREET, CAMBRIDGE; (VIII) AN ADDITION TO THE NEW COLLEGE THEATRE, 10-12 HOLYOKE STREET, CAMBRIDGE; (IX) CONSTRUCTION OF THE NORTHWEST BUILDING, A SCIENCE FACILITY AT 52 OXFORD STREET, CAMBRIDGE; (X) RENOVATIONS TO EXPAND TEACHING LAB SPACE IN THE NORTHWEST BUILDING, 52 OXFORD STREET, CAMBRIDGE; (XI) ROOF, LIFE SAFETY, AND INFRASTRUCTURE UPGRADES TO PERKINS HALL, 35-39 OXFORD STREET, CAMBRIDGE; (XII) COSMETIC, ROOF, INFRASTRUCTURE AND LIFE SAFETY UPGRADES TO BAKER HALL, 45 HARVARD WAY, BOSTON; (XIII) RENOVATION OF BUILDINGS AT 641 AND 643 HUNTINGTON AVENUE, BOSTON; (XIV) A RENOVATION OF OFFICE SPACE IN GORDON HALL, 25 SHATTUCK STREET, BOSTON; AND (XV) CONSTRUCTION OF THE ALLSTON SCIENCE COMPLEX, INCLUDING A PARKING FACILITY AND AN ENERGY FACILITY AT 150 WESTERN AVENUE, BOSTON. ROW B (SERIES 2010A), COLUMN F: SERIES 2010A WAS ISSUED TO REFUND TAX-EXEMPT COMMERCIAL PAPER ISSUED ON 3/9/06, 12/21/07 AND 7/22/09; TO REFUND PORTIONS OF SERIES Z, ISSUED 11/9/00, AND SERIES FF, ISSUED 7/24/02 AND PAY RELATED COSTS; AND TO FINANCE THE FOLLOWING CAPITAL EXPENDITURES OF THE UNIVERSITY: (I) CONSTRUCTION OF A BUILDING AND RELATED RENOVATIONS AND UTILITY INFRASTRUCTURE UPGRADES AT HARVARD LAW SCHOOL, 1585 MASSACHUSETTS AVE, CAMBRIDGE; (II) A RENOVATION OF BUILDING SPACE AND A BOILER REPLACEMENT AND ANCILLARY SYSTEM UPGRADE IN THE BLACKSTONE PLANT, 46 BLACKSTONE STREET, CAMBRIDGE; (III) A RETROFIT OF EXISTING HVAC SYSTEMS FOR LARSEN HALL, 14 APPIAN WAY, CAMBRIDGE; (IV) MAINTENANCE AND TOWER RESTORATION AT LOWELL HOUSE, 10 HOLYOKE PLACE, CAMBRIDGE; (V) RENOVATION OF ADMINISTRATIVE OFFICE AND CLASSROOM SPACE IN PIERCE HALL, 25 OXFORD STREET, CAMBRIDGE; AND (VI) RENOVATION, RECONSTRUCTION, AND EXPANSION OF HARVARD UNIVERSITY ART MUSEUMS, 32 QUINCY STREET, CAMBRIDGE.
Schedule K, Part I, Column (f) BOND ISSUES (CONTINUED):	ROW C (SERIES 2010B), COLUMN F: SERIES 2010B WAS ISSUED TO REFUND TAX-EXEMPT COMMERCIAL PAPER ISSUED ON 12/21/07 AND 7/22/09; TO REFUND SERIES L, ISSUED 10/4/89, SERIES BB, ISSUED 11/9/00, AND SERIES HH, ISSUED 10/29/03, AND PORTIONS OF SERIES FF, ISSUED 7/24/02 AND PAY RELATED COSTS; AND TO FINANCE THE FOLLOWING CAPITAL EXPENDITURES OF THE UNIVERSITY: (I) CONSTRUCTION OF A BUILDING AND RELATED RENOVATIONS AND UTILITY INFRASTRUCTURE UPGRADES AT HARVARD LAW SCHOOL, 1585 MASSACHUSETTS AVE, CAMBRIDGE; (II) RENOVATION, RECONSTRUCTION, AND EXPANSION OF HARVARD UNIVERSITY ART MUSEUMS, 32 QUINCY STREET, CAMBRIDGE; (III) UTILITY INFRASTRUCTURE UPGRADES AT HARVARD LAW SCHOOL, 1585 MASSACHUSETTS AVE, CAMBRIDGE; (IV) RENOVATIONS AND ADDITIONS AT THE HARVARD DEPOSITORY, 1 PINE HILL DRIVE, SOUTHBOROUGH; (V) RENOVATION OF ADMINISTRATIVE OFFICE SPACE IN HOLYOKE CENTER, 1350 MASSACHUSETTS AVENUE, CAMBRIDGE; (VI) RENEWAL AND RENOVATIONS AT WINTHROP HOUSE, 8 MILL STREET, CAMBRIDGE; AND (VII) MAINTENANCE AND TOWER RESTORATION AT ADAMS HOUSE, 10 LINDEN STREET, 13-21 & 53 BOW STREET, AND 26 PLYMPTON STREET, CAMBRIDGE. ROW D (SERIES 2012EE), COLUMN C: SERIES 2012EE CONSISTED OF TAX-EXEMPT COMMERCIAL PAPER, AND THUS WAS REPRESENTED BY MULTIPLE CUSIPS. ROW D (SERIES 2012EE), COLUMN E: SERIES 2012EE CONSISTED OF TAX-EXEMPT COMMERCIAL PAPER, WITH AN AUTHORIZED AMOUNT OF $1,000,000,000. $564,000 WAS OUTSTANDING ON 6/30/15. ROW D (SERIES 2012EE), COLUMN F: SERIES 2012EE, CONSISTING OF TAX-EXEMPT COMMERCIAL PAPER, WAS ISSUED TO PROVIDE SHORT-TERM FINANCING FOR THE FOLLOWING CAPITAL EXPENDITURES OF THE UNIVERSITY: (I) CONSTRUCTION OF A BUILDING FOR THE ARNOLD ARBORETUM FOR RESEARCH AND ADMINISTRATION LOCATED AT WELD HILL, 1300 CENTRE STREET, BOSTON.
Schedule K, Part II PROCEEDS:	LINE 3 (GENERAL NOTE): THE DIFFERENCE BETWEEN AMOUNTS REPORTED IN LINE 3 AND IN COLUMN E OF PART I REPRESENTS INVESTMENT EARNINGS, EXCEPT IN THE CASE OF THE COMMERCIAL PAPER ISSUES (SERIES 2007EE, 2009EE, AND 2012EE), FOR WHICH LINE 3 REPRESENTS THE BALANCE OUTSTANDING ON JUNE 30, 2015 AND COLUMN E OF PART I REPRESENTS THE FULL AUTHORIZED AMOUNT OF THE COMMERCIAL PAPER PROGRAM.
Schedule K, Part II, Line 13 COLUMN B (SERIES 2007EE):	ONE OR MORE PROJECTS FINANCED BY THIS BOND SERIES WAS NOT SUBSTANTIALLY COMPLETE AS OF JUNE 30, 2015, ALTHOUGH ALL PROCEEDS DRAWN FOR THE PROJECT HAVE PREVIOUSLY BEEN SPENT.
Schedule K, Part II, Line 13 COLUMN A (SERIES 2009EE):	ONE OR MORE PROJECTS FINANCED BY THIS BOND SERIES WAS NOT SUBSTANTIALLY COMPLETE AS OF JUNE 30, 2015, ALTHOUGH ALL PROCEEDS DRAWN FOR THE PROJECT HAVE PREVIOUSLY BEEN SPENT.
Schedule K, Part III PRIVATE BUSINESS USE:	SERIES R1-5, R6, AND R7: THESE BONDS WERE ISSUED SOLELY TO REFUND PRE-JANUARY 1, 2003 ISSUES AND ARE NOT SUBJECT TO PART III REPORTING.
Schedule K, Part IV ARBITRAGE:	LINE 2C (SERIES 2007EE, 2009EE, 2012EE): NO REBATE COMPUTATION WAS NEEDED IN RELATION TO THE UNIVERSITY'S COMMERCIAL PAPER SERIES BECAUSE NO PROCEEDS WERE INVESTED PRIOR TO BEING SPENT. LINE 2C (SERIES 2010A): THE REBATE COMPUTATION WAS PERFORMED IN AUGUST 2014 AS OF JUNE 30, 2014. NO REBATE WAS DUE. LINE 2C (SERIES 2010B): THE REBATE COMPUTATION WAS PERFORMED IN AUGUST 2015 AS OF JUNE 30, 2015. NO REBATE WAS DUE. LINE 6 (SERIES 2010B): "YES" RESPONSE REFLECTS AMOUNTS REMAINING IN THE PROJECT FUND BEYOND THE TEMPORARY PERIOD; AMOUNTS WERE HELD AND INVESTED IN COMPLIANCE WITH ARBITRAGE RESTRICTIONS.
Schedule K, Part IV, Line 2c Rebate Calculation	Issuer name: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY The calculation for computing no rebate due was performed on 06/30/2014
Schedule K, Part IV, Line 2c Rebate Calculation	Issuer name: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY The calculation for computing no rebate due was performed on 06/30/2015

Schedule K (Form 990) 2014

Additional Data

Software ID:	14000329
Software Version:	2014v1.0

- TIN:

Schedule K
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Information on Tax Exempt Bonds

Complete if the organization answered "Yes" to Form 990, Part IV, line 24a. Provide descriptions,
explanations, and any additional information in Part VI.
SchKMediumBullet

Attach to Form 990.
SchKMediumBullet

Information about Schedule K (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public
Inspection

Name of the organization
President and Fellows of Harvard College

Employer identification number
04-2103580

Part I

Bond Issues

(a) Issuer name		(b) Issuer EIN	(c) CUSIP #	(d) Date issued	(e) Issue price	(f) Description of purpose	(g) Defeased		(h) On behalf of issuer		(i) Pool financing
(a) Issuer name		(b) Issuer EIN	(c) CUSIP #	(d) Date issued	(e) Issue price	(f) Description of purpose	Yes	No	Yes	No	Yes	No
A	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57585KGP7	01-15-2004	103,670,000	SERIES R 1-5 (SEE PART VI)		X		X		X
B	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57585KGP7	04-14-2005	13,490,000	SERIES R 6 (SEE PART VI)		X		X		X
C	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57585KGP7	04-03-2006	14,040,000	SERIES R 7 (SEE PART VI)		X		X		X
D	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57586CFV2	05-18-2005	199,814,639	SERIES 2005A/B (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57586CNN1	12-15-2005	130,469,345	SERIES 2005C (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	MULTIPLES	12-21-2007	1,000,000,000	SERIES 2007EE (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57586C6U4	06-10-2008	216,886,431	SERIES 2008B (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57586EDD0	01-07-2009	987,282,950	SERIES 2009A (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	MULTIPLES	07-22-2009	1,000,000,000	SERIES 2009EE (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57586EQE4	01-20-2010	531,814,469	SERIES 2010A (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	57583R5Q4	11-17-2010	663,862,239	SERIES 2010B (SEE PART VI)		X		X		X
	MASSACHUSETTS DEVELOPMENT FINANCE AGENCY	04-3431814	MULTIPLES	08-08-2012	1,000,000,000	SERIES 2012EE (SEE PART VI)		X		X		X

Part II

Proceeds

	A		B		C		D
	1 Amount of bonds retired . . . . . . . . . . . . . .	0		0		0		0
2 Amount of bonds legally defeased . . . . . . . . . . .	0		0		0		0
3 Total proceeds of issue . . . . . . . . . . . . . .	103,670,000		13,491,079		14,043,650		200,761,080
4 Gross proceeds in reserve funds . . . . . . . . . . . .	0		0		0		0
5 Capitalized interest from proceeds . . . . . . . . . . .	0		0		0		0
6 Proceeds in refunding escrows . . . . . . . . . . . .	0		0		0		0
7 Issuance costs from proceeds . . . . . . . . . . . .	0		0		0		1,059,385
8 Credit enhancement from proceeds . . . . . . . . . . .	0		0		0		0
9 Working capital expenditures from proceeds . . . . . . . . .	0		0		0		0
10 Capital expenditures from proceeds . . . . . . . . . . .	0		0		0		6,740,000
11 Other spent proceeds . . . . . . . . . . . . . .	103,670,000		13,491,079		14,043,650		192,961,696
12 Other unspent proceeds . . . . . . . . . . . . . .	0		0		0		0
13 Year of substantial completion . . . . . . . . . . . .	2007		2014		2008		2007
	Yes	No	Yes	No	Yes	No	Yes	No
14 Were the bonds issued as part of a current refunding issue? . . . . .	X		X		X		X
15 Were the bonds issued as part of an advance refunding issue? . . . . .		X		X		X		X
16 Has the final allocation of proceeds been made? . . . . . . . .	X		X		X		X
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? . . . . . . . . . . . . . .	X		X		X		X

Part III

Private Business Use

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? . . . . . . .		X		X		X		X
2 Are there any lease arrangements that may result in private business use of bond-financed property? . . . . . . . . .	X			X		X	X

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50193E

Schedule K (Form 990) 2014

Page 2

Part III

Private Business Use (Continued)

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
3a Are there any management or service contracts that may result in private business use of bond-financed property? . . . . . . . . . . . .	X		X		X		X
b If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property?	X		X		X		X
c Are there any research agreements that may result in private business use of bond-financed property? . . . . . . . . . . . . . . .	X		X		X		X
d If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property?	X		X		X		X
4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government . .	0 %		0 %		0.02 %		0 %
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government . . . . . . .	0.26 %		0 %		0 %		0.26 %
6 Total of lines 4 and 5 . . . . . . . . . . . . .	0 %		0 %		0 %		0.26 %
7 Does the bond issue meet the private security or payment test? . . . . .		X		X		X		X
8a Has there been a sale or disposition of any of the bond-financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?. . . . . . . . . . . . . . . . .		X		X		X		X
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of.
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? . . . . . . . . . . . . .
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under Regulations sections 1.141-12 and 1.145-2? . . . . . . .	X		X		X		X

Part IV

Arbitrage

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
1 Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate? . .		X		X		X		X
2 If "No" to line 1, did the following apply? . . . .
a Rebate not due yet? . . . . . . . .		X		X		X		X
b Exception to rebate? . . . . . . . .	X		X		X		X
c No rebate due? . . . . . . . .		X		X		X		X
If "Yes" to line 2c, provide in Part VI the date the rebate computation was performed . . . . . .
3 Is the bond issue a variable rate issue? . . . .	X		X		X			X
4a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?		X		X		X		X
b Name of provider . . . . . . . . .
c Term of hedge . . . . . . . . . .
d Was the hedge superintegrated? . . . .
e Was the hedge terminated? . . . . . .

Schedule K (Form 990) 2014

Page 3

Part IV

Arbitrage (Continued)

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
5a Were gross proceeds invested in a guaranteed investment contract (GIC)? . . . . . . . . .		X		X		X		X
b Name of provider . . . . . . . . .
c Term of GIC . . . . . . . . . .
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? . . . . .
6 Were any gross proceeds invested beyond an available temporary period? . . . . . . . .		X		X		X		X
7 Has the organization established written procedures to monitor the requirements of section 148? . . .	X		X		X		X

Part V

Procedures To Undertake Corrective Action

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations?	X		X		X		X

Part VI

Supplemental Information. Provide additional information for responses to questions on Schedule K (see instructions).

Return Reference	Explanation
Schedule K, Part I BOND ISSUES:	COLUMNS A AND B (GENERAL NOTE): THE MASSACHUSETTS HEALTH AND EDUCATIONAL FACILITIES AUTHORITY (EIN: 04-2456011) WAS THE ORIGINAL ISSUER OF THE FOLLOWING ISSUES LISTED ON THIS SCHEDULE: SERIES R 1-5, SERIES R 6, SERIES R 7, SERIES 2005A/B, SERIES 2005C, SERIES 2007EE, SERIES 2008B, SERIES 2009A, SERIES 2009EE, AND SERIES 2010A. IT WAS MERGED INTO THE MASSACHUSETTS DEVELOPMENT FINANCE AGENCY (EIN: 04-3431814) ON OCTOBER 1, 2010. ROW A (SERIES R 1-5), COLUMN F: SERIES R, TRANCHE 1-5 WAS ISSUED TO REFUND PORTIONS OF THE FOLLOWING BOND ISSUES WHICH WERE ISSUED ON THE FOLLOWING DATES: SERIES A (7/1/72), SERIES B (7/1/73), SERIES C (4/7/76), SERIES D (6/23/77), SERIES I (5/7/85), SERIES M (2/6/91),SERIES N (9/1/91), SERIES P (6/13/95), SERIES Q-1 (8/29/96), SERIES Q-2 (9/2/97), SERIES Q-3 (9/15/98), SERIES Z (10/1/00), AND SERIES AA (10/4/01). ROW B (SERIES R 6), COLUMN F: SERIES R, TRANCHE 6 WAS ISSUED TO REFUND PORTIONS OF THE FOLLOWING BOND ISSUES WHICH WERE ISSUED ON THE FOLLOWING DATES: SERIES P (6/13/95), SERIES Z (10/1/00), AND SERIES AA (10/4/01). ROW C (SERIES R 7), COLUMN F: SERIES R, TRANCHE 7 WAS ISSUED TO REFUND PORTIONS OF THE FOLLOWING BOND ISSUES WHICH WERE ISSUED ON THE FOLLOWING DATES: SERIES P (6/13/95), SERIES Z (10/1/00), AND SERIES AA (10/4/01). ROW D (SERIES 2005A/B), COLUMN F: SERIES 2005A WAS ISSUED TO REFUND TAX-EXEMPT COMMERCIAL PAPER ISSUED ON 12/18/03, AND TO FINANCE CAPITAL EXPENDITURES OF THE UNIVERSITY RELATING TO THE HARVARD DEPOSITORY, SOUTHBOROUGH, AND THE WIDENER LIBRARY, CAMBRIDGE. SERIES 2005B WAS ISSUED TO REFUND SERIES P, ISSUED 6/13/95. ROW A (SERIES 2005C), COLUMN F: SERIES 2005C WAS ISSUED TO REFUND TAX-EXEMPT COMMERCIAL PAPER ISSUED ON 9/5/02 AND ON 12/18/03. ROW B (SERIES 2007EE), COLUMN C: SERIES 2007EE CONSISTED OF TAX-EXEMPT COMMERCIAL PAPER, AND THUS WAS REPRESENTED BY MULTIPLE CUSIPS. ROW B (SERIES 2007EE), COLUMN E: SERIES 2007EE CONSISTED OF TAX-EXEMPT COMMERCIAL PAPER, WITH AN AUTHORIZED AMOUNT OF $1,000,000,000. APPROXIMATELY $229 MILLION WAS OUTSTANDING ON 6/30/15. ROW B (SERIES 2007EE), COLUMN F: SERIES 2007EE, CONSISTING OF TAX-EXEMPT COMMERCIAL PAPER, WAS ISSUED TO PROVIDE SHORT-TERM FINANCING FOR THE FOLLOWING CAPITAL EXPENDITURES OF THE UNIVERSITY: (I) CONSTRUCTION OF A BUILDING FOR THE ARNOLD ARBORETUM FOR RESEARCH AND ADMINISTRATION LOCATED AT WELD HILL, 1300 CENTRE STREET, BOSTON; (II) INSTALLATION OF A SATELLITE CHILLED WATER PLANT AND AN ELECTRICAL SUBSTATION LOCATED ON THE EAST SIDE OF OXFORD STREET BETWEEN HAMMOND AND KIRKLAND STREETS, CAMBRIDGE; (III) A RENOVATION OF BUILDING SPACE AT 46 BLACKSTONE STREET, CAMBRIDGE AND A BOILER REPLACEMENT AND ANCILLARY SYSTEM UPGRADE IN THE BLACKSTONE PLANT LOCATED AT THE SAME SITE (THE CORNER OF MEMORIAL DRIVE AND WESTERN AVENUE, CAMBRIDGE); (IV) AN UNDERGROUND PARKING FACILITY LOCATED AT 6-8 EVERETT STREET, CAMBRIDGE; (V) INSTALLATION OF UNDERGROUND PIPES AND WIRES IN THE HARVARD LAW SCHOOL AREA, WEST OF OXFORD STREET BETWEEN EVERETT STREET AND KIRKLAND STREET, CAMBRIDGE; (VI) RENOVATION OF ROCKEFELLER HALL, 47 FRANCIS AVENUE, CAMBRIDGE; (VII) RENOVATIONS AND UTILITY INFRASTRUCTURE UPGRADES AT HARVARD LAW SCHOOL, 1585 MASSACHUSETTS AVE, CAMBRIDGE; (VIII) RENOVATION OF THE FIRE ALARM AND SPRINKLER SYSTEM, ROOF, AND ROOM INTERIORS AT RESIDENTIAL BUILDINGS IN THE HARVARD LAW SCHOOL AREA, 16-22 EVERETT STREET, CAMBRIDGE; (IX) RENOVATION AND EXTERIOR RESTORATION OF BYERLY HALL, 6-8 GARDEN STREET, CAMBRIDGE; (X) A RENOVATION OF THE MALKIN ATHLETIC CENTER, 39 HOLYOKE STREET, CAMBRIDGE; (XI) CONSTRUCTION AND EQUIPPING OF THE LABORATORY FOR INTERFACE SCIENCE AND ENGINEERING, 15 OXFORD STREET, CAMBRIDGE; (XII) CONSTRUCTION OF A RESEARCH FACILITY LOCATED AT 16 DIVINITY AVENUE, CAMBRIDGE; (XIII) AN ADDITION TO THE NEW COLLEGE THEATRE, 10-12 HOLYOKE STREET, CAMBRIDGE; (XIV) CONSTRUCTION OF THE NORTHWEST BUILDING, A SCIENCE FACILITY AT 52 OXFORD STREET, CAMBRIDGE; (XV) RENOVATION AND EXTERIOR RESTORATION OF GALLATIN HALL, 24 HARVARD WAY, BOSTON; (XVI) CLASSROOM RENOVATIONS AT THE MCCOLLUM CENTER, 47 HARVARD WAY, BOSTON; (XVII) RENOVATION OF BUILDINGS AT 641 AND 643 HUNTINGTON AVENUE, BOSTON; (XVIII) CONSTRUCTION OF A HOUSING DEVELOPMENT AT 387 WESTERN AVENUE, 28 HINGHAM STREET AND 30 HINGHAM STREET, CAMBRIDGE; (XIX) CONSTRUCTION OF THE ALLSTON SCIENCE COMPLEX, INCLUDING A PARKING FACILITY AND AN ENERGY FACILITY AT 150 WESTERN AVENUE, BOSTON; (XX) DESIGN FOR NEW INFRASTRUCTURE SYSTEMS FOR UTILITIES TUNNELS, MATERIALS HANDLING TUNNELS, WATER UTILITIES, WASTEWATER SYSTEMS, AND TRANSMISSION SUBSTATION TO SUPPORT THE ALLSTON CAMPUS, BOSTON; AND (XXI) A RENOVATION OF THE BUILDING FIRE SPRINKLER AND FIRE ALARM AT DUNSTER HOUSE, 945 MEMORIAL DRIVE, CAMBRIDGE. ROW C (SERIES 2008B), COLUMN F: SERIES 2008B WAS ISSUED TO REFUND TAX-EXEMPT COMMERCIAL PAPER ISSUED ON 3/9/06 AND 12/21/07, AND TO REFINANCE CAPITAL EXPENDITURES OF THE UNIVERSITY RELATING TO QUINCY HOUSE, 58 PLYMPTON STREET, CAMBRIDGE. ROW D (SERIES 2009A), COLUMN F: SERIES 2009A WAS ISSUED TO REFUND TAX-EXEMPT COMMERCIAL PAPER ISSUED ON 3/9/06 AND 12/21/07, AND TO REFUND SERIES GG-1, ISSUED 7/1/04, AND SERIES 2006B, ISSUED 7/20/06 AND PAY RELATED COSTS. ROW A (SERIES 2009EE), COLUMN C: SERIES 2009EE CONSISTED OF TAX-EXEMPT COMMERCIAL PAPER, AND THUS WAS REPRESENTED BY MULTIPLE CUSIPS. ROW A (SERIES 2009EE), COLUMN E: SERIES 2009EE CONSISTED OF TAX-EXEMPT COMMERCIAL PAPER, WITH AN AUTHORIZED AMOUNT OF $1,000,000,000. APPROXIMATELY $60 MILLION WAS OUTSTANDING ON 6/30/15. ROW A (SERIES 2009EE), COLUMN F: SERIES 2009EE, CONSISTING OF TAX-EXEMPT COMMERCIAL PAPER, WAS ISSUED TO PROVIDE SHORT-TERM FINANCING FOR THE FOLLOWING CAPITAL EXPENDITURES OF THE UNIVERSITY: (I) CONSTRUCTION OF A BUILDING FOR THE ARNOLD ARBORETUM FOR RESEARCH AND ADMINISTRATION LOCATED AT WELD HILL, 1300 CENTRE STREET, BOSTON; (II) AN UNDERGROUND PARKING FACILITY LOCATED AT 6-8 EVERETT STREET, CAMBRIDGE; (III) INSTALLATION OF A SATELLITE CHILLED WATER PLANT AND AN ELECTRICAL SUBSTATION LOCATED ON THE EAST SIDE OF OXFORD STREET BETWEEN HAMMOND AND KIRKLAND STREETS, CAMBRIDGE; (IV) RENOVATION OF ROCKEFELLER HALL, 47 FRANCIS AVENUE, CAMBRIDGE; (V) CONSTRUCTION OF A BUILDING AND RELATED RENOVATIONS AND UTILITY INFRASTRUCTURE UPGRADES AT HARVARD LAW SCHOOL, 1585 MASSACHUSETTS AVE, CAMBRIDGE; (VI) LIFE SAFETY FIRE SYSTEM UPGRADES, OTHER RENOVATIONS, AND STRATEGIC PLANNING FOR ADDITIONAL RENEWAL AND RENOVATIONS AT STUDENT RESIDENCES LOCATED AT 45 FLAGG STREET, 10 HOLYOKE PLACE, 56 PLYMPTON STREET, 10 LINDEN STREET, 13-21 & 53 BOW STREET, 26 PLYMPTON STREET, 966 MEMORIAL DRIVE, 967 MEMORIAL DRIVE, 35-39 OXFORD STREET, 36 OXFORD STREET, 1651 MASSACHUSETTS AVENUE, AND 1533-1544 MASSACHUSETTS AVENUE, CAMBRIDGE; (VII) CONSTRUCTION AND EQUIPPING OF THE LABORATORY FOR INTERFACE SCIENCE AND ENGINEERING, 15 OXFORD STREET, CAMBRIDGE; (VIII) AN ADDITION TO THE NEW COLLEGE THEATRE, 10-12 HOLYOKE STREET, CAMBRIDGE; (IX) CONSTRUCTION OF THE NORTHWEST BUILDING, A SCIENCE FACILITY AT 52 OXFORD STREET, CAMBRIDGE; (X) RENOVATIONS TO EXPAND TEACHING LAB SPACE IN THE NORTHWEST BUILDING, 52 OXFORD STREET, CAMBRIDGE; (XI) ROOF, LIFE SAFETY, AND INFRASTRUCTURE UPGRADES TO PERKINS HALL, 35-39 OXFORD STREET, CAMBRIDGE; (XII) COSMETIC, ROOF, INFRASTRUCTURE AND LIFE SAFETY UPGRADES TO BAKER HALL, 45 HARVARD WAY, BOSTON; (XIII) RENOVATION OF BUILDINGS AT 641 AND 643 HUNTINGTON AVENUE, BOSTON; (XIV) A RENOVATION OF OFFICE SPACE IN GORDON HALL, 25 SHATTUCK STREET, BOSTON; AND (XV) CONSTRUCTION OF THE ALLSTON SCIENCE COMPLEX, INCLUDING A PARKING FACILITY AND AN ENERGY FACILITY AT 150 WESTERN AVENUE, BOSTON. ROW B (SERIES 2010A), COLUMN F: SERIES 2010A WAS ISSUED TO REFUND TAX-EXEMPT COMMERCIAL PAPER ISSUED ON 3/9/06, 12/21/07 AND 7/22/09; TO REFUND PORTIONS OF SERIES Z, ISSUED 11/9/00, AND SERIES FF, ISSUED 7/24/02 AND PAY RELATED COSTS; AND TO FINANCE THE FOLLOWING CAPITAL EXPENDITURES OF THE UNIVERSITY: (I) CONSTRUCTION OF A BUILDING AND RELATED RENOVATIONS AND UTILITY INFRASTRUCTURE UPGRADES AT HARVARD LAW SCHOOL, 1585 MASSACHUSETTS AVE, CAMBRIDGE; (II) A RENOVATION OF BUILDING SPACE AND A BOILER REPLACEMENT AND ANCILLARY SYSTEM UPGRADE IN THE BLACKSTONE PLANT, 46 BLACKSTONE STREET, CAMBRIDGE; (III) A RETROFIT OF EXISTING HVAC SYSTEMS FOR LARSEN HALL, 14 APPIAN WAY, CAMBRIDGE; (IV) MAINTENANCE AND TOWER RESTORATION AT LOWELL HOUSE, 10 HOLYOKE PLACE, CAMBRIDGE; (V) RENOVATION OF ADMINISTRATIVE OFFICE AND CLASSROOM SPACE IN PIERCE HALL, 25 OXFORD STREET, CAMBRIDGE; AND (VI) RENOVATION, RECONSTRUCTION, AND EXPANSION OF HARVARD UNIVERSITY ART MUSEUMS, 32 QUINCY STREET, CAMBRIDGE.
Schedule K, Part I, Column (f) BOND ISSUES (CONTINUED):	ROW C (SERIES 2010B), COLUMN F: SERIES 2010B WAS ISSUED TO REFUND TAX-EXEMPT COMMERCIAL PAPER ISSUED ON 12/21/07 AND 7/22/09; TO REFUND SERIES L, ISSUED 10/4/89, SERIES BB, ISSUED 11/9/00, AND SERIES HH, ISSUED 10/29/03, AND PORTIONS OF SERIES FF, ISSUED 7/24/02 AND PAY RELATED COSTS; AND TO FINANCE THE FOLLOWING CAPITAL EXPENDITURES OF THE UNIVERSITY: (I) CONSTRUCTION OF A BUILDING AND RELATED RENOVATIONS AND UTILITY INFRASTRUCTURE UPGRADES AT HARVARD LAW SCHOOL, 1585 MASSACHUSETTS AVE, CAMBRIDGE; (II) RENOVATION, RECONSTRUCTION, AND EXPANSION OF HARVARD UNIVERSITY ART MUSEUMS, 32 QUINCY STREET, CAMBRIDGE; (III) UTILITY INFRASTRUCTURE UPGRADES AT HARVARD LAW SCHOOL, 1585 MASSACHUSETTS AVE, CAMBRIDGE; (IV) RENOVATIONS AND ADDITIONS AT THE HARVARD DEPOSITORY, 1 PINE HILL DRIVE, SOUTHBOROUGH; (V) RENOVATION OF ADMINISTRATIVE OFFICE SPACE IN HOLYOKE CENTER, 1350 MASSACHUSETTS AVENUE, CAMBRIDGE; (VI) RENEWAL AND RENOVATIONS AT WINTHROP HOUSE, 8 MILL STREET, CAMBRIDGE; AND (VII) MAINTENANCE AND TOWER RESTORATION AT ADAMS HOUSE, 10 LINDEN STREET, 13-21 & 53 BOW STREET, AND 26 PLYMPTON STREET, CAMBRIDGE. ROW D (SERIES 2012EE), COLUMN C: SERIES 2012EE CONSISTED OF TAX-EXEMPT COMMERCIAL PAPER, AND THUS WAS REPRESENTED BY MULTIPLE CUSIPS. ROW D (SERIES 2012EE), COLUMN E: SERIES 2012EE CONSISTED OF TAX-EXEMPT COMMERCIAL PAPER, WITH AN AUTHORIZED AMOUNT OF $1,000,000,000. $564,000 WAS OUTSTANDING ON 6/30/15. ROW D (SERIES 2012EE), COLUMN F: SERIES 2012EE, CONSISTING OF TAX-EXEMPT COMMERCIAL PAPER, WAS ISSUED TO PROVIDE SHORT-TERM FINANCING FOR THE FOLLOWING CAPITAL EXPENDITURES OF THE UNIVERSITY: (I) CONSTRUCTION OF A BUILDING FOR THE ARNOLD ARBORETUM FOR RESEARCH AND ADMINISTRATION LOCATED AT WELD HILL, 1300 CENTRE STREET, BOSTON.
Schedule K, Part II PROCEEDS:	LINE 3 (GENERAL NOTE): THE DIFFERENCE BETWEEN AMOUNTS REPORTED IN LINE 3 AND IN COLUMN E OF PART I REPRESENTS INVESTMENT EARNINGS, EXCEPT IN THE CASE OF THE COMMERCIAL PAPER ISSUES (SERIES 2007EE, 2009EE, AND 2012EE), FOR WHICH LINE 3 REPRESENTS THE BALANCE OUTSTANDING ON JUNE 30, 2015 AND COLUMN E OF PART I REPRESENTS THE FULL AUTHORIZED AMOUNT OF THE COMMERCIAL PAPER PROGRAM.
Schedule K, Part II, Line 13 COLUMN B (SERIES 2007EE):	ONE OR MORE PROJECTS FINANCED BY THIS BOND SERIES WAS NOT SUBSTANTIALLY COMPLETE AS OF JUNE 30, 2015, ALTHOUGH ALL PROCEEDS DRAWN FOR THE PROJECT HAVE PREVIOUSLY BEEN SPENT.
Schedule K, Part II, Line 13 COLUMN A (SERIES 2009EE):	ONE OR MORE PROJECTS FINANCED BY THIS BOND SERIES WAS NOT SUBSTANTIALLY COMPLETE AS OF JUNE 30, 2015, ALTHOUGH ALL PROCEEDS DRAWN FOR THE PROJECT HAVE PREVIOUSLY BEEN SPENT.
Schedule K, Part III PRIVATE BUSINESS USE:	SERIES R1-5, R6, AND R7: THESE BONDS WERE ISSUED SOLELY TO REFUND PRE-JANUARY 1, 2003 ISSUES AND ARE NOT SUBJECT TO PART III REPORTING.
Schedule K, Part IV ARBITRAGE:	LINE 2C (SERIES 2007EE, 2009EE, 2012EE): NO REBATE COMPUTATION WAS NEEDED IN RELATION TO THE UNIVERSITY'S COMMERCIAL PAPER SERIES BECAUSE NO PROCEEDS WERE INVESTED PRIOR TO BEING SPENT. LINE 2C (SERIES 2010A): THE REBATE COMPUTATION WAS PERFORMED IN AUGUST 2014 AS OF JUNE 30, 2014. NO REBATE WAS DUE. LINE 2C (SERIES 2010B): THE REBATE COMPUTATION WAS PERFORMED IN AUGUST 2015 AS OF JUNE 30, 2015. NO REBATE WAS DUE. LINE 6 (SERIES 2010B): "YES" RESPONSE REFLECTS AMOUNTS REMAINING IN THE PROJECT FUND BEYOND THE TEMPORARY PERIOD; AMOUNTS WERE HELD AND INVESTED IN COMPLIANCE WITH ARBITRAGE RESTRICTIONS.
Schedule K, Part IV, Line 2c Rebate Calculation	Issuer name: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY The calculation for computing no rebate due was performed on 06/30/2014
Schedule K, Part IV, Line 2c Rebate Calculation	Issuer name: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY The calculation for computing no rebate due was performed on 06/30/2015

Schedule K (Form 990) 2014

Additional Data

Software ID:	14000329
Software Version:	2014v1.0

- TIN:

Schedule L
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Transactions with Interested Persons

Complete if the organization answered
"Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c,
or Form 990-EZ, Part V, line 38a or 40b.
MediumBullet

Attach to Form 990 or Form 990-EZ.
MediumBullet

Information about Schedule L (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization

President and Fellows of Harvard College

Employer identification number

04-2103580

Part I

Excess Benefit Transactions (section 501(c)(3), section 501(c)(4), and 501(c)(29) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.

1(a) Name of disqualified person	(c) Description of transaction	(d) Corrected?
1(a) Name of disqualified person	(c) Description of transaction	Yes	No

Enter the amount of tax incurred by organization managers or disqualified persons during the year under section 4958. ........................... Bullet Image

Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ....... Bullet Image

Part II

Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990-EZ, Part V, line 38a, or Form 990, Part IV, line 26; or if the organization reported an amount on Form 990, Part X, line 5, 6, or 22

(a) Name of interested person	(b) Relationship with organization	(c) Purpose of loan	(d) Loan to or from the organization?		(e)Original principal amount	(f)Balance due	(g) In default?		(h) Approved by board or committee?		(i)Written agreement?
(a) Name of interested person	(b) Relationship with organization	(c) Purpose of loan	To	From	(e)Original principal amount	(f)Balance due	Yes	No	Yes	No	Yes	No
(1) JEFFREY S FLIER	KEY EMPLOYEE	DEPENDENT'S EDUCATION		X	47,000	16,000		No	Yes		Yes
(2) STEVEN E HYMAN	FORMER OFFICER	PURCHASE OF HOME		X	750,000	750,000		No	Yes		Yes




Total ...... $						766,000

Part III

Grants or Assistance Benefiting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.

(a) Name of interested person	(b) Relationship between interested person and the organization	(c) Amount of assistance	(d) Type of assistance	(e) Purpose of assistance

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 50056A

Schedule L (Form 990 or 990-EZ) 2014

Page 2

Part IV

Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.

(a) Name of interested person	(b) Relationship between interested person and the organization	(c) Amount of transaction	(d) Description of transaction	(e) Sharing of organization's revenues?
(a) Name of interested person		(c) Amount of transaction	(d) Description of transaction	Yes	No
(1) DR SOHEYLA GHARIB	EMPLOYEE/FAMILY MEMBER OF DIRECTOR	317,047	COMPENSATION		No
(2) BHARAT ANAND	EMPLOYEE/FAMILY MEMBER OF KEY EMPLOYEE	430,850	COMPENSATION		No
(3) PETER HIRTLE	EMPLOYEE/FAMILY MEMBER OF CURRENT OFFICER	53,766	COMPENSATION		No

Part V

Supplemental Information
Provide additional information for responses to questions on Schedule L (see instructions).

Return Reference	Explanation

Schedule L (Form 990 or 990-EZ) 2014

Additional Data

Software ID:	14000329
Software Version:	2014v1.0

- TIN:

SCHEDULE M
(Form 990)

Department of the Treasury

Internal Revenue Service

Noncash Contributions

Complete if the organizations answered "Yes" on Form 990, Part IV, lines 29 or 30.
Right pointing arrow large image

Attach to Form 990.
Right pointing arrow large image

Information about Schedule M (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization

President and Fellows of Harvard College

Employer identification number

04-2103580

Part I

Types of Property

	(a) Check if applicable	(b) Number of contributions or items contributed	(c) Noncash contribution amounts reported on Form 990, Part VIII, line 1g	(d) Method of determining noncash contribution amounts
1 Art—Works of art ....	X	51		Other
2 Art—Historical treasures .	X	1		Other
3 Art—Fractional interests ..	X	4		Other
4 Books and publications ..	X			Other
5 Clothing and household goods .......	X			Other
6 Cars and other vehicles ..
7 Boats and planes ....
8 Intellectual property ...
9 Securities—Publicly traded .	X	1,626	183,558,211	Market value
10 Securities—Closely held stock .	X	4	8,367,140	Other
11 Securities—Partnership, LLC, or trust interests ....
12 Securities—Miscellaneous ..
13 Qualified conservation contribution—Historic structures .....
14 Qualified conservation contribution—Other ...
15 Real estate—Residential .
16 Real estate—Commercial ..
17 Real estate—Other ...
18 Collectibles .....	X	8		Other
19 Food inventory ...
20 Drugs and medical supplies .
21 Taxidermy ......
22 Historical artifacts ....
23 Scientific specimens ..
24 Archeological artifacts ...	X	10		Other
25 Other ( EQUIPMENT/FURNITURE )	X	4		Other
26 Other ( OTHER )	X	5		Other
27 Other ( )
28 Other ( )

Number of Forms 8283 received by the organization during the tax year for contributions
for which the organization completed Form 8283, Part IV, Donee Acknowledgement ...

Yes

30a

During the year, did the organization receive by contribution any property reported in Part I, lines 1 through 28, that

it must hold for at least three years from the date of the initial contribution, and which is not required to be used

for exempt purposes for the entire holding period? ..................

30a

If "Yes," describe the arrangement in Part II.

Does the organization have a gift acceptance policy that requires the review of any non-standard contributions?

Yes

32a

Does the organization hire or use third parties or related organizations to solicit, process, or sell noncash

contributions? ..........................

32a

Yes

If "Yes," describe in Part II.

If the organization did not report an amount in column (c) for a type of property for which column (a) is checked,

describe in Part II.

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 51227J

Schedule M (Form 990) (2014)

Page 2

Part II

Supplemental Information. Provide the information required by Part I, lines 30b,
32b, and 33, and whether the organization is reporting in Part I, column (b), the number of contributions, the number of items received, or a combination of both. Also complete this part for any additional information.

Return Reference	Explanation
Schedule M, Part I COLUMN (B):	THE UNIVERSITY IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED.
Schedule M, Part I, Line 33 EXPLANATION OF REVENUES NOT REPORTED	SFAS 116 PROVIDES THAT CONTRIBUTIONS OF WORKS OF ART, HISTORICAL TREASURES, AND SIMILAR ASSETS NEED NOT BE RECOGNIZED AS REVENUES AND CAPITALIZED IF THE DONATED ITEMS ARE ADDED TO COLLECTIONS THAT ARE HELD FOR PUBLIC EXHIBITION, EDUCATION, OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE RATHER THAN FINANCIAL GAIN. THE UNIVERSITY DOES NOT REPORT REVENUES FOR GIFTS-IN-KIND INTENDED FOR DISPLAY OR IMMATERIAL AMOUNTS. THE FOLLOWING IS THE TEXT OF THE FOOTNOTE DESCRIBING COLLECTIONS FROM THE UNIVERSITY'S FINANCIAL STATEMENTS: "THE UNIVERSITY'S VAST ARRAY OF MUSEUMS AND LIBRARIES CONTAINS PRICELESS WORKS OF ART, HISTORICAL TREASURES, LITERARY WORKS, AND ARTIFACTS. THESE COLLECTIONS ARE PROTECTED AND PRESERVED FOR PUBLIC EXHIBITION, EDUCATION, RESEARCH, AND THE FURTHERANCE OF PUBLIC SERVICES. THEY ARE NEITHER DISPOSED OF FOR FINANCIAL GAIN NOR ENCUMBERED IN ANY MANNER. ACCORDINGLY, SUCH COLLECTIONS ARE NOT RECORDED FOR FINANCIAL STATEMENT PURPOSES." NOT ALL GIFTS ARE ART GIVEN WITH THE INTENTION OF BEING DISPLAYED. THERE MAY BE INSTANCES WHERE A GIFT OF ART IS MADE WITH THE PURPOSE OF BEING SOLD AND THE PROCEEDS BENEFITING A SPECIFIC PURPOSE OR UNIT AT THE UNIVERSITY. IN SUCH CASES, THE SALE PROCEEDS WOULD BE RECORDED AS GIFT REVENUE AT THE TIME OF SALE.
Schedule M, Part I, Line 33 OTHER NONCASH CONTRIBUTIONS:	CERTAIN NONCASH CONTRIBUTIONS LISTED IN PART I HAVE NOT REPORTED AN AMOUNT IN PART I, COLUMN (C). NO AMOUNT IS REPORTED FOR THESE CONTRIBUTIONS EITHER BECAUSE THEY ARE INTENDED FOR DISPLAY, AS DISCUSSED ABOVE, OR BECAUSE THE VALUE OF THE NONCASH CONTRIBUTION IS IMMATERIAL.
Schedule M, Part I, Line 32b Third parties used to solicit, process, or sell noncash contributions	THIRD PARTIES, SUCH AS AUCTION HOUSES OR BROKERS, MAY BE USED TO SELL NON-CASH CONTRIBUTIONS FOR THE UNIVERSITY, BUT NOT TO PROCESS OR SOLICIT ANY CONTRIBUTIONS FOR THE UNIVERSITY, EXCEPT AS DISCLOSED ON SCHEDULE G, PART I.

Schedule M (Form 990) (2014)

Additional Data

Software ID:	14000329
Software Version:	2014v1.0

- TIN:

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet

Attach to Form 990 or 990-EZ.
MediumBullet

Information about Schedule O (Form 990 or 990-EZ) and its instructions is at
www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public
Inspection

Name of the organization

President and Fellows of Harvard College

Employer identification number

04-2103580

Return Reference	Explanation
Form 990, Part I, Line 5 TOTAL NUMBER OF INDIVIDUALS EMPLOYED:	AS REQUIRED BY THE FORM 990 INSTRUCTIONS, THE NUMBER REPORTED ON PART I, LINE 5 REPRESENTS THE TOTAL NUMBER OF FORMS W-2 PRODUCED BY THE UNIVERSITY DURING CALENDAR YEAR 2014. THIS INCLUDES PAYMENTS FOR WORK STUDY AND CERTAIN TEACHING FELLOWS, AS WELL AS SHORT-TERM EMPLOYMENT. THE TOTAL HEAD COUNT FOR FACULTY AND STAFF AS REPORTED ON THE HARVARD UNIVERSITY FACT BOOK FOR OCTOBER 31, 2014 WAS 18,082.
Form 990, Part I, Line 6 VOLUNTEERS:	HARVARD IS FORTUNATE TO BENEFIT FROM THE SERVICES OF VOLUNTEERS ACROSS ITS NUMEROUS SCHOOLS, DEPARTMENTS, AND PROGRAMS. WHILE HARVARD DOES NOT TRACK OR ELSEWHERE REPORT THE NUMBER OF ITS VOLUNTEERS, THE UNIVERSITY ESTIMATES THAT THIS FIGURE EXCEEDS 23,000.
Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders	CERTAIN ACTIONS OF THE HARVARD CORPORATION, SUCH AS THE ELECTION OF NEW CORPORATION MEMBERS, THE CONFERRAL OF DEGREES, AND AMENDMENTS TO THE UNIVERSITY STATUTES, ARE SUBJECT TO THE CONSENT OF THE UNIVERSITY'S BOARD OF OVERSEERS.
Form 990, Part VI, Line 11b Review of form 990 by governing body	THE FORM 990 WAS REVIEWED BY THE UNIVERSITY'S TAX RETURN REVIEW COMMITTEES, COMPRISING SENIOR FINANCE STAFF, AND INTERNAL AND EXTERNAL COUNSEL. FORM 990 WAS ALSO REVIEWED BY THE UNIVERSITY'S JOINT COMMITTEE ON INSPECTION, CONSISTING OF MEMBERS OF THE HARVARD CORPORATION AND THE BOARD OF OVERSEERS. THE FINAL FORM 990 WAS PROVIDED TO THE ENTIRE HARVARD CORPORATION BEFORE IT WAS FILED.
Form 990, Part VI, Line 12c Conflict of interest policy	ANNUALLY, THE UNIVERSITY'S OFFICE OF THE GENERAL COUNSEL DISTRIBUTES A COPY OF THE HARVARD UNIVERSITY POLICY ON CONFLICTS OF INTEREST AND COMMITMENT FOR SENIOR OFFICERS AND SENIOR ADMINISTRATORS, AND AN ANNUAL DISCLOSURE FORM, TO THE INDIVIDUALS SUBJECT TO THE POLICY. THE COMPLETED FORMS ARE REVIEWED BY THE OFFICE OF THE GENERAL COUNSEL. A PARALLEL PROCESS IS CARRIED OUT ANNUALLY BY THE OFFICE OF THE GOVERNING BOARDS FOR THE UNIVERSITY'S GOVERNING BODY. THE COMPLETED DISCLOSURE FORMS OF MEMBERS OF THE GOVERNING BODY ARE REVIEWED BY BOTH THE OFFICE OF THE GENERAL COUNSEL AND THE SECRETARY OF THE UNIVERSITY.
Form 990, Part VI, Line 15a Process to establish compensation of top management official	THE FOLLOWING IS A DESCRIPTION OF THE ANNUAL COMPENSATION REVIEW PROCESS (CROSS-REFERENCE SCHEDULE J, PART I, LINE 3). THE MOST RECENT REVIEW CONDUCTED PRIOR TO THE CLOSE OF FISCAL YEAR 2015 OCCURRED IN MAY 2015. THE OFFICE OF HUMAN RESOURCES INITIATES AN ANNUAL REVIEW PROCESS TIMED SO THAT A FINAL REVIEW CAN BE CONDUCTED BY THE HARVARD CORPORATION DURING ITS APRIL/MAY MEETING. ALL INTERNAL REVIEWS AND NEW SALARY RECOMMENDATIONS ARE CONDUCTED IN ADVANCE OF THE CORPORATION MEETING, GENERALLY INCLUDING RECOMMENDATION BY THE PRESIDENT OF COMPENSATION OTHER THAN THE PRESIDENT'S OWN. THE PROVOST AND THE EXECUTIVE VICE PRESIDENT ADDITIONALLY PROVIDE RECOMMENDATIONS ON THOSE INDIVIDUALS FOR WHOM THEY HAVE ORGANIZATIONAL RESPONSIBILITY, SUBJECT TO THE APPROVAL OF THE PRESIDENT. DURING THE MEETING, THE CORPORATION, WHICH IN FULL SERVES AS THE COMPENSATION COMMITTEE, REVIEWS EACH OF THE PRESIDENT'S PROPOSALS FOR FINAL APPROVAL. THE PRESIDENT DOES NOT PARTICIPATE IN THE DELIBERATIONS OR THE VOTE ON THE PRESIDENT'S OWN COMPENSATION. ALL VOTES ARE MEMORIALIZED IN MINUTES AND PRESERVED, TOGETHER WITH ALL BACKGROUND DATA AND MATERIALS PROVIDED BY THE OFFICE OF HUMAN RESOURCES. THIS ANNUAL REVIEW PROCESS INCLUDES THE COMPILATION OF APPROPRIATE COMPARABILITY COMPENSATION DATA FOR EACH POSITION INCLUDED IN THE REVIEW. THE COMPENSATION COMMITTEE OBTAINS AND RELIES UPON APPROPRIATE COMPENSATION MARKET SURVEY DATA AND ANALYSIS IN EACH CASE PRIOR TO MAKING ITS DETERMINATION. FOR THIS PURPOSE, THE PRINCIPAL SOURCE OF SUCH DATA IS AN ANNUAL REPORT PROVIDED BY AN OUTSIDE CONSULTANT. ADDITIONAL COMPARABILITY DATA FOR REVIEW OF THE PRESIDENT'S COMPENSATION HAS BEEN DRAWN FROM A SECOND EXTERNAL SOURCE THAT IS COMPILED ANNUALLY AND FROM PUBLICLY AVAILABLE FORM 990 INFORMATION. THE INDIVIDUALS TO WHOM THE PROCESS IS APPLIED ARE THE FOLLOWING: 1. THE OFFICERS OF THE UNIVERSITY, INCLUDING THE PRESIDENT, PROVOST, SECRETARY, EXECUTIVE VICE PRESIDENT, AND ALL VICE PRESIDENTS; 2. THE DEANS OF THE FACULTIES, INCLUDING KEY EMPLOYEES; 3. CERTAIN OTHER SENIOR UNIVERSITY PERSONNEL.
Form 990, Part VI, Line 15b Process to establish compensation of other employees	THE ANNUAL COMPENSATION REVIEW PROCESS DESCRIBED ABOVE APPLIES TO OTHER OFFICERS AND KEY EMPLOYEES.
Form 990, Part VI, Line 19 Required documents available to the public	HARVARD UNIVERSITY MAKES ITS ANNUAL FINANCIAL STATEMENTS AVAILABLE ON ITS WEBSITE. HARVARD'S CONFLICT OF INTEREST POLICY FOR SENIOR OFFICERS AND SENIOR ADMINISTRATORS IS AVAILABLE ON HARVARD'S INTRANET, ACCESSIBLE TO MEMBERS OF THE HARVARD COMMUNITY. HARVARD'S PUBLIC CHARTER IS AVAILABLE UPON REQUEST.
Form 990, Part VII, Section A, Line 1a, Column (B) AVERAGE HOURS PER WEEK:	THE UNIVERSITY DOES NOT TRACK HOURS WORKED BY TRUSTEES, OFFICERS, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES. THE AVERAGE HOURS WORKED REPORTED ON PART VII, COLUMN (B) ARE ESTIMATES, WITH 60 HOURS PER WEEK AS AN APPROXIMATION FOR FULL-TIME EMPLOYMENT. THE HOURS PER WEEK DEVOTED TO RELATED ORGANIZATIONS REPRESENTS AN ESTIMATE OF TIME THE INDIVIDUAL SPENDS IN HIS/HER CAPACITY AS A MEMBER OF THE BOARD OF DIRECTORS OF HARVARD AFFILIATES.
Form 990, Part VIII, Line 2f Other Program Service Revenue	LAB AND OTHER SERVICES AND SALES - Total Revenue: 29282659, Related or Exempt Function Revenue: 26151968, Unrelated Business Revenue: 3130691, Revenue Excluded from Tax Under Sections 512, 513, or 514: ; DOUBLETREE UBI - Total Revenue: 27944616, Related or Exempt Function Revenue: , Unrelated Business Revenue: 27944616, Revenue Excluded from Tax Under Sections 512, 513, or 514: ; RENTAL INCOME FROM NON-NVESTMENT PROPERTY - Total Revenue: 24982702, Related or Exempt Function Revenue: , Unrelated Business Revenue: 157614, Revenue Excluded from Tax Under Sections 512, 513, or 514: 24825088; OTHER - CONFERENCES - Total Revenue: 17480332, Related or Exempt Function Revenue: 17480332, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; DENTAL CLINIC - Total Revenue: 9175513, Related or Exempt Function Revenue: 9175513, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; ALL OTHER PROGRAM SERVICES INCOME - Total Revenue: 7883054, Related or Exempt Function Revenue: 7883054, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; OTHER - ATHLETICS - Total Revenue: 2899322, Related or Exempt Function Revenue: 2899322, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;
Form 990, Part X, Line 33 NET ASSETS:	AS REPORTED IN THE UNIVERSITY'S FY15 FINANCIAL STATEMENTS, THE UNIVERSITY HAS CONSOLIDATED CERTAIN NON-CONTROLLING INTERESTS RELATING TO ITS INVESTMENTS IN REAL ASSETS UNDER ASU 2010-7. THESE NON-CONTROLLING INTERESTS REPRESENT THE PORTION OF THE REAL ASSETS NOT CONTROLLED BY THE UNIVERSITY, BUT REQUIRED TO BE PRESENTED ON THE UNIVERSITY'S BALANCE SHEET UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. THESE INTERESTS WERE $833.6 MILLION AS OF JUNE 30, 2015.
Form 990, Part XI, Line 9 Other changes in net assets or fund balances	CHANGES IN NON-CONTROLLING INTERESTS IN POOLED INVESTMENT ACCOUNT - XXX-XX-XXXX; OTHER CHANGES IN SPLIT INTEREST AGREEMENTS - -XXX-XX-XXXX; NET LOSS FROM DISCONTINUED OPERATIONS - -50752821; CHANGE IN RETIREMENT OBLIGATIONS - -84106842; CHANGE IN INTEREST IN TRUSTS HELD BY OTHERS - -13351638; TRANSFERS FROM AFFILIATED ORGANIZATIONS - 62372164; OTHER CHANGES IN NET ASSETS - -23941044;
Schedule J, Part I, Line 7 Non-fixed payments	THE UNIVERSITY OFFERS INCENTIVE COMPENSATION FOR OUTSTANDING PERFORMANCE. BONUS AND INCENTIVE PAYMENTS FOR OFFICERS, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES ARE LISTED IN PART II, COLUMN (B)(II). ONE HIGHEST COMPENSATED EMPLOYEE, JOHN AUBRECHT, RECEIVED BONUS PAYMENTS DURING CALENDAR YEAR 2014 FOR PERFORMANCE DURING BOTH FISCAL YEAR 2013 AND FISCAL YEAR 2014.
Schedule J, Part I, Line 8 Payments on contract that is subject to the initial contract exception	VICE PRESIDENT WEENICK WAS COMPENSATED UNDER AN INITIAL CONTRACT DURING CALENDAR YEAR 2014. THIS COMPENSATION ARRANGEMENT WAS APPROVED IN ADVANCE BY THE TREASURER AND SENIOR FELLOW. THE ENTIRE HARVARD CORPORATION WAS SUBSEQUENTLY INFORMED. WEENICK'S COMPENSATION AFTER JULY 1, 2014 WAS DETERMINED BY THE COMPENSATION COMMITTEE USING THE PROCESS DISCUSSED IN SCHEDULE O "COMPENSATION REVIEW PROCESS".

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2014

Additional Data

Software ID:	14000329
Software Version:	2014v1.0

- TIN:

SCHEDULE R
(Form 990)

Department of the Treasury
Internal Revenue Service

Related Organizations and Unrelated Partnerships

Complete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
MediumBullet

Attach to Form 990.
MediumBullet

Information about Schedule R (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization

President and Fellows of Harvard College

Employer identification number

04-2103580

Part I

Identification of Disregarded Entities Complete if the organization answered "Yes" on Form 990, Part IV, line 33.

(a) Name, address, and EIN (if applicable) of disregarded entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Total income	(e) End-of-year assets	(f) Direct controlling entity
(1) BEAU GESTE XXV LLC HRES 1350 MASS AVE CAMBRIDGE,MA02138 20-2138990	REAL ESTATE	MA	27,945,527	63,990,509	PRESIDENT AND FELLOWS OF HARVARD COLLEGE
(2) DG EQUITY PARTICIPANTS II LLC 131 SOUTH DEARBORN ST 32 FL CHICAGO,IL60603 98-1167777	INVESTMENTS	DE	25,644,000	168,553,000	DG PARTICIPANTS LTD
(3) FIELD COURSE LLC 1209 ORANGE ST THE CORP TRUST CO WILMINGTON,DE19801 00-1069145	ACADEMIC	DE	48,213	88,280	PRESIDENT AND FELLOWS OF HARVARD COLLEGE
(4) HARVARD INTERNATIONAL LLC 1350 MASS AVE STE 980 CAMBRIDGE,MA02138 30-0459737	INTERNATIONAL SUPPORT	MA	0	504	PRESIDENT AND FELLOWS OF HARVARD COLLEGE
(5) HARVARD UNIVERSITY BEACON YARDS LLC 1033 MASS AVE 3RD FL CAMBRIDGE,MA02138 03-0517218	REAL ESTATE	MA	0	79,775,768	PRESIDENT AND FELLOWS OF HARVARD COLLEGE

Part II

Identification of Related Tax-Exempt Organizations Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Exempt Code section	(e) Public charity status (if section 501(c)(3))	(f) Direct controlling entity	(g) Section 512(b)(13) controlled entity?
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Exempt Code section	(e) Public charity status (if section 501(c)(3))	(f) Direct controlling entity	Yes	No
(1) AFRICA ACADEMY FOR PUBLIC HEALTH PO BOX 79810 MWAI KIBAKI RD DAR ES SALAAM TZ	RESEARCH	TZ			PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(2) AMERICAN REPERTORY THEATRE COMPANY INC 64 BRATTLE ST CAMBRIDGE,MA02138 04-2665867	PERFORMING ARTS	MA	501(c)(3	9	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(3) ASSOCIACAO DAVID ROCKEFELLER CENTER DE UNIVERSIDADE DE HARVARD AVENIDA PAULISTA 1337 CJ 171 SAO PAULO 01311200 BR	EDUCATION	BR			PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(4) BLUE MARBLE HOLDINGS CORP 600 ATLANTIC AVE BOSTON,MA02210 23-7014581	INVESTMENT MANAGEMENT	MA	501(c)(3	Type I	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(5) BOTSWANA-HARVARD AIDS INSTITUTE PRIVATE BAG BO 320 GABORONE BC	RESEARCH	BC			PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(6) CENTRE RECHERCHE EUROPEEN DE LA HBS 62 RUE FRANCOIS 1 ER PARIS FR	RESEARCH SUPPORT	FR			PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(7) DEMETER HOLDINGS CORP 600 ATLANTIC AVE BOSTON,MA02210 04-3044742	INVESTMENT MANAGEMENT	MA	501(c)(3	Type I	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(8) DOYUKAI FUND FOR HARVARD INC 800 BOYLSTON ST BOSTON,MA02199 04-3478889	RESEARCH SUPPORT	MA	501(c)(3	Type I	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(9) DUBAI HARVARD FOUNDATION FOR MEDICAL RESEARCH INC 401 PARK DR BOSTON,MA02215 52-2446955	EDUCATION AND RESEARCH	MA	501(c)(3	Type I	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(10) ENDOWMENT FOR RESEARCH IN HUMAN BIOLOGY INC 160 FEDERAL ST BOSTON,MA02115 04-2702030	RESEARCH	MA	501(c)(3	Type III-O	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(11) FUNDACION CENTRO DE INVESTIGACION DE LA ESCUELA DE ADMIN DE EMPRESA CARLOS PELLEGRINI 1163 PISO 12 CONTRAFRENTE BUENOS AIRES C1009ABW AR	RESEARCH SUPPORT	AR			PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(12) FUNDACION DRCLAS CHILE AVENIDA DAG HAMMARSKJOLD 3269 SANTIAGO CI	FACULTY AND STUDENT ACTIVITIES	CI			PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(13) GIOVANNI ARMENISE-HARVARD FOUNDATION FOR SCIENTIFIC RESEARCH INC HMS DEAN OF FAC OF MED BOSTON,MA02115 04-3293162	RESEARCH SUPPORT	MA	501(c)(3	Type I	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(14) HANSJORG WYSS INST FOR BIOLOGICALLY INSPIRED ENGINEERING AT HARVARD UNIV IN C3 BLACKFAN CIRCLE 5TH FL CLSB BOSTON,MA02115 30-0773387	RESEARCH	MA	501(c)(3	Type I	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(15) HARVARD BUSINESS SCHOOL INTERACTIVE INC SOLDIERS FIELD RD BOSTON,MA02163 04-3395140	EXECUTIVE EDUCATION	MA	501(c)(3	Type I	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(16) HARVARD BUSINESS SCHOOL PUBLISHING CORP 20 GUEST ST STE 700 BRIGHTON,MA02135 04-3177990	PUBLISHING	MA	501(c)(3	Type I	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(17) HARVARD DEDICATED ENERGY LIMITED 1033 MASS AVE 3RD FL CAMBRIDGE,MA02138 03-0425512	ELECTRICITY PURCHASING	MA	501(c)(3	Type I	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(18) HARVARD GLOBAL RESEARCH AND SUPPORT SERVICES INC 114 MOUNT AUBURN ST 5TH FL CAMBRIDGE,MA02138 45-4535664	GLOBAL SUPPORT	MA	501(c)(3	Type I	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(19) HARVARD GLOBAL UK VERNON HOUSE 22 SICILIAN AVE LONDON WC1A2QS UK	RESEARCH	UK			HARVARD GLOBAL RESEARCH AND SUPPORT SERVICES INC	Yes
(20) HARVARD MAGAZINE INC 7 WARE ST CAMBRIDGE,MA02138 04-6112308	PUBLISHING	MA	501(c)(3	Type III-FI	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(21) HARVARD MANAGEMENT COMPANY INC 600 ATLANTIC AVE BOSTON,MA02210 23-7361259	INVESTMENT MANAGEMENT	MA	501(c)(3	Type I	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(22) HARVARD MANAGEMENT PRIVATE EQUITY CORP 600 ATLANTIC AVE BOSTON,MA02210 04-3070522	INVESTMENT MANAGEMENT	MA	501(c)(3	Type I	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(23) HARVARD MEDICAL CENTER 25 SHATTUCK ST BOSTON,MA02115 04-2213292	MEDICAL EDUCATION	MA	501(c)(3	Type I	NA		No
(24) HARVARD NEURODISCOVERY CENTER INC 25 SHATTUCK ST BOSTON,MA02115 31-1745145	RESEARCH SUPPORT	MA	501(c)(3	Type I	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(25) HARVARD PRIVATE CAPITAL HOLDINGS INC 600 ATLANTIC AVE BOSTON,MA02210 04-3070519	INVESTMENT MANAGEMENT	MA	501(c)(3	Type I	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(26) HARVARD PRIVATE CAPITAL REALTY INC 600 ATLANTIC AVE BOSTON,MA02210 22-3138409	INVESTMENT MANAGEMENT	MA	501(c)(3	Type I	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(27) HARVARD REAL ESTATE - ALLSTON INC 1033 MASS AVE 3RD FL CAMBRIDGE,MA02138 04-3373410	TITLE HOLDING COMPANY	MA	501(c)(25		PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(28) HARVARD REAL ESTATE INC 1033 MASS AVE 3RD FL CAMBRIDGE,MA02138 04-2649303	REAL ESTATE BROKERAGE	MA	501(c)(3	Type I	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(29) HARVARD-YENCHING INSTITUTE VANSERG HALL 25 FRANCIS AVE CAMBRIDGE,MA02138 04-2062394	EDUCATION	MA	501(c)(3	Type I	NA		No
(30) ION INC 1350 MASS AVE CAMBRIDGE,MA02138 22-3032677	RESEARCH	MA	501(c)(3	Type I	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(31) LONGWOOD MEDICAL ENERGY COLLABORATIVE INC 160 LONGWOOD AVE BOSTON,MA02115 04-3476764	ENERGY SERVICES	MA	501(c)(3	Type I	NA		No
(32) MASSACHUSETTS GREEN HIGH PERFORMANCE COMPUTING CENTER INC 100 BIGELOW ST HOLYOKE,MA01040 27-3014805	RESEARCH	MA	501(c)(3	Type I	NA		No
(33) MGHPCC HOLYOKE INC 100 BIGELOW ST HOLYOKE,MA01040 45-2257442	RESEARCH	MA	501(c)(3	Type I	NA		No
(34) PHEMUS CORP 600 ATLANTIC AVE BOSTON,MA02210 04-2997367	INVESTMENT MANAGEMENT	MA	501(c)(3	Type I	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(35) PUTNAM SQUARE APARTMENTS INC HRES 1350 MASS AVE CAMBRIDGE,MA02138 04-6251287	REAL ESTATE	MA	501(c)(3	9	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(36) RED TOP INC MURR CTR 65 NORTH HARVARD ST BOSTON,MA02163 51-0189788	ATHLETICS	CT	501(c)(3	Type I	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(37) SHIPPING VENTURE CORP 600 ATLANTIC AVE BOSTON,MA02210 04-3263656	INVESTMENT MANAGEMENT	MA	501(c)(3	Type I	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(38) STUDENT CLUBS OF HBS INC SOLDIERS FIELD RD BOSTON,MA02163 57-1152691	STUDENT SUPPORT	MA	501(c)(3	Type I	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes
(39) THE CARL J SHAPIRO INSTITUTE FOR EDUCATION AND RESEARCH AT HARVARD 330 BROOKLINE AVE BOSTON,MA02215 04-3326928	MEDICAL EDUCATION AND RESEARCH	MA	501(c)(3	Type I	NA		No
(40) TRUSTEES FOR HARVARD UNIVERSITY 1033 MASS AVE 3RD FL CAMBRIDGE,MA02138 53-0199180	EDUCATION	DC	501(c)(3	Type II	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Yes

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50135Y

Schedule R (Form 990) 2014

Page 2

Part III

Identification of Related Organizations Taxable as a Partnership Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a partnership during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Predominant income(related, unrelated, excluded from tax under sections 512-514)	(f) Share of total income	(g) Share of end-of-year assets	(h) Disproprtionate allocations?		(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	(j) General or managing partner?		(k) Percentage ownership
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity		(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No
(1) 170 BROADWAY LLC 767 5TH AVE STE 2400 NEW YORK,NY10153 46-4145333	INVESTMENTS	DE	CROWN ATLANTIC RETAIL I LLC	Excluded	-414,400	14,586,945		No			No	79.23 %
(2) 2007 86TH STREET LLC 767 5TH AVE STE 2400 NEW YORK,NY10153 46-3848056	INVESTMENTS	DE	CROWN ATLANTIC RETAIL LLC	Excluded	7,307	11,529,258		No			No	79.23 %
(3) 441 ROCKAWAY OWNER LLC 767 5TH AVE STE 2400 NEW YORK,NY10153 30-0829016	INVESTMENTS	DE	CROWN ATLANTIC RETAIL I LLC	Excluded	129,246	3,693,811		No			No	79.23 %
(4) ALCION REAL ESTATE PARTNERS II LP ONE POST OFFICE SQUARE STE 3150 BOSTON,MA02109 26-3400946	INVESTMENTS	DE	HARVARD PRIVATE CAPITAL REALTY INC	Excluded	12,660,384	136,857,803		No			No	99.5 %
(5) ALCION REAL ESTATE PARTNERS LP ONE POST OFFICE SQUARE STE 3150 BOSTON,MA02109 20-1973523	INVESTMENTS	DE	HARVARD PRIVATE CAPITAL REALTY INC	Excluded	11,831,966	109,041,658		No			No	93.93 %
(6) ALPINE APARTMENTS LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 90-0908453	INVESTMENTS	DE	IEC ATLANTIC III LLC	Excluded	2,629,834	65,410		No			No	79 %
(7) AMERRA AGRI OPPORTUNITY FUND LP 1185 AVE OF THE AMERICAS 18TH FL NEW YORK,NY10036 27-3310646	INVESTMENTS	DE	HARVARD MANAGEMENT PRIVATE EQUITY CORP	Excluded	9,583,113	125,276,201		No	148,759		No	98.29 %
(8) ATLANTIC CT HOLDINGS II LLC 65 ENTERPRISE STE 150 ALISO VIEJO,CA92656 46-2548899	INVESTMENTS	DE	ATLANTIC WESTERN INDUSTRIAL LLC	Unrelated	-67,313	17,349,083		No			No	93.5 %
(9) ATLANTIC CT HOLDINGS LLC 65 ENTERPRISE STE 150 ALISO VIEJO,CA92656 46-2501216	INVESTMENTS	DE	ATLANTIC WESTERN INDUSTRIAL LLC	Excluded	152,967	57,041,054		No			No	94.32 %
(10) ATLANTIC P3 LIFE SCIENCE HOLDINGS LLC 4380 LAJOLLA VILLAGE DR STE 230 SAN DIEGO,CA92122	INVESTMENTS	DE	ATLANTIC WLS LLC	Excluded	0	0		No			No	99.8 %
(11) ATLANTIC REGENT HOLDINGS LLC 11990 SAN VICENTE BLVD STE 200 LOS ANGELES,CA90049 47-2097418	INVESTMENTS	DE	ATLANTIC WSWO LLC	Excluded	0	0		No			No	98.85 %
(12) ATLANTIC SCIOTO HOLDINGS LLC 575 MADISON AVE 16TH FL NEW YORK,NY10022 47-1979711	INVESTMENTS	DE	ATLANTIC DEBT INVESTOR LLC	Excluded	0	387,043		No			No	99.63 %
(13) ATLANTIC TORONTO LP HMC INC 600 ATLANTIC AVE BOSTON,MA02210 35-2384789	INVESTMENTS	DE	HARVARD PRIVATE CAPITAL REALTY INC	Excluded	1,492,341	17,876,153		No			No	100 %
(14) BAINBRIDGE CC URBANA APARTMENTS LLC 12765 W FOREST HILL BLVD STE 1307 WELLINGTON,FL33414 80-0910794	INVESTMENTS	DE	BLUE ATLANTIC URBANA LLC	Excluded	0	11,665,882		No			No	88.2 %
(15) BAUPOST INSTITUTIONAL REALTY PARTNERS LLC - I 10 ST JAMES AVE STE 1700 BOSTON,MA02116 04-3437926	INVESTMENTS	MA	HB INSTITUTIONAL LP	Excluded	-6,045	65,453		No			No	63.01 %
(16) BAUPOST INSTITUTIONAL REALTY PARTNERS LLC - II 10 ST JAMES AVE STE 1700 BOSTON,MA02116 04-3481078	INVESTMENTS	MA	HB INSTITUTIONAL LP	Excluded	11,887,838	1,445,899		No			No	59.84 %
(17) BAYNORTH REALTY FUND IV LP 200 CLARENDON ST 54TH FL BOSTON,MA02116 04-3423446	INVESTMENTS	MA	HARVARD PRIVATE CAPITAL REALTY INC	Excluded	1,241,192	6,356,668		No			No	99.05 %
(18) BAYNORTH REALTY FUND V LP 200 CLARENDON ST 54TH FL BOSTON,MA02116 04-3537051	INVESTMENTS	MA	HARVARD PRIVATE CAPITAL REALTY INC	Excluded	93	0		No			No	60.59 %
(19) B-BROOK-B SARL 20 RUE DE LA POSTE L-2346 LU 98-0558809	INVESTMENTS	LU	HB CAYMAN LTD	Excluded	81,210	5,519,679		No			No	54.89 %
(20) BH INVESTMENTS FUND LLC 655 THIRD AVE - 11TH FL NEW YORK,NY10017 04-3070522	INVESTMENTS	DE	HARVARD MANAGEMENT PRIVATE EQUITY CORP	Excluded	50,478,612	293,082,030		No			No	100 %
(21) BLUE ATLANTIC ACQUISITION GROUP II LLC 353 NORTH CLARK ST STE 730 CHICAGO,IL60654 90-0909419	INVESTMENTS	DE	ATLANTIC STUDENT HOUSING LLC	Excluded	2,100,357	62,856,539		No			No	98 %
(22) BLUE ATLANTIC ACQUISITION GROUP LLC 353 NORTH CLARK ST STE 730 CHICAGO,IL60654 27-4668306	INVESTMENTS	DE	ATLANTIC STUDENT HOUSING LLC	Excluded	19,603,610	68,066,983		No			No	98 %
(23) BPR CO-INVESTOR LLC 7121 FAIRWAY DR STE 410 PALM BEACH GARDENS,FL33418 20-8376342	INVESTMENTS	DE	HARVARD PRIVATE CAPITAL REALTY INC	Excluded	1,936,288	624,249		No			No	100 %
(24) BUCKINGHAM ATLANTIC LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 46-0545782	INVESTMENTS	DE	IEC ATLANTIC II LLC	Excluded	-14,755	0		No			No	78.4 %
(25) CA USQUARE LLC 767 5TH AVE STE 2400 NEW YORK,NY10153 47-3889463	INVESTMENTS	DE	ATLANTIC USQUARE LLC	Excluded	0	0		No			No	80 %
(26) CARMEL HOUSE APARTMENTS LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 46-1377243	INVESTMENTS	DE	IEC ATLANTIC III LLC	Excluded	7,166,108	96,882		No			No	92.83 %
(27) CCC INVESTORS HOLDINGS II LP 2310 WASHINGTON ST NEWTON LOWER FALLS,MA02462 47-2033623	INVESTMENTS	DE	ATLANTIC CRI II LLC	Excluded	56,128	8,330,722		No			No	100 %
(28) CCI-B INST LLC 800 BRAZOS ST STE 600 AUSTIN,TX78701 39-2060908	INVESTMENTS	DE	HB INSTITUTIONAL LP	Excluded	-949,002	0		No			No	52.68 %
(29) CERBERUS MA PARTNERS LP 190 ELGIN AVE GEORGE TOWN,GRAND CAYMANKYI9005 CJ 36-4762301	INVESTMENTS	CJ	ATLANTIC CIREP EUROPE LLC	Excluded	16,189,569	143,466,284		No			No	97.68 %
(30) CH NBS LTD 767 5TH AVE 24TH FL NEW YORK,NY10153 98-1207239	INVESTMENTS	JE	ATLANTIC NBS LTD	Excluded	0	6,451,962		No			No	80 %
(31) CH OCEANSIDE LLC 767 5TH AVE STE 2400 NEW YORK,NY10153 46-2568911	INVESTMENTS	DE	CROWN ATLANTIC RETAIL LLC	Excluded	-121	519,852		No			No	79.23 %
(32) CHAMBERS BURGER PROPERTY LP CB EQUITY LLC 1360 AVE OF AMERICAS NEW YORK,NY10019 46-0986140	INVESTMENTS	DE	CB EQUITY LLC	Excluded	606,087	20,901,050		No			No	71.93 %
(33) CHEROKEE INVESTMENT PARTNERS III PARALLEL FUND LP 111 EAST HARGETT ST STE 300 RALEIGH,NC27601 71-0890767	INVESTMENTS	DE	HPC CHEROKEE VENTURES LLC	Excluded	-1,948,240	7,820,576		No			No	53.05 %
(34) COMPOSITION CAPITAL ASIA FUND II CV WTC - TOWER D 12TH FL AMSTERDAM 1077 XV NL 98-0563996	INVESTMENTS	NL	COMPOSITION CAPITAL ASIA II FEEDER CV	Excluded	0	47,742,943		No			No	58.39 %
(35) COMTEL TELECOM ASSETS LP 200 CLARENDON ST BOSTON,MA02116 20-3237782	INVESTMENTS	TX	COMTEL ASSETS CORP	Excluded	674,650	1,332,916		No			No	69.36 %
(36) CORAL SENIOR HOUSING II LLC 1275 PENNSYLVANIA AVE NW 2ND FL WASHINGTON,DC20004 32-0410036	INVESTMENTS	DE	CORAL LIVING II LLC	Excluded	0	73,286,106		No			No	99.5 %
(37) CORAL SENIOR HOUSING III LLC 1275 PENNSYLVANIA AVE NW 2ND FL WASHINGTON,DC20004 38-3931197	INVESTMENTS	DE	CORAL LIVING III LLC	Excluded	12	20,305,301		No			No	99.5 %
(38) CORAL SENIOR HOUSING LLC 1275 PENNSYLVANIA AVE NW 2ND FL WASHINGTON,DC20004 27-3934030	INVESTMENTS	DE	CORAL LIVING LLC	Excluded	8,264	6,148,955		No			No	93.56 %
(39) CORAL-FSP INVESTMENT FUND I LLC 3820 MANSELL RD STE 275 ALPARETTA,GA30022 45-3203414	INVESTMENTS	DE	CSH PROGRAM REIT INC	Excluded	-457,539	10,833,785		No			No	74.85 %
(40) CORAL-FSP INVESTMENT FUND II LLC 1275 PENNSYLVANIA AVE NW 2ND FL WASHINGTON,DC20004 90-1033350	INVESTMENTS	DE	CSH PROGRAM REIT II INC	Excluded	-2,643	7,689,212		No			No	84.58 %
(41) CORE EM DIVERSIFIED EQUITY FUND LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 46-0711788	INVESTMENTS	DE	HARVARD MANAGEMENT PRIVATE EQUITY CORP	Excluded	-972,959	134,953,521		No			No	100 %
(42) CREEKSIDE GLEN APARTMENTS LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 46-1384936	INVESTMENTS	DE	IEC ATLANTIC III LLC	Excluded	9,004,613	861,019		No			No	92.83 %
(43) CROSSPOINT TECHNOLOGY HOLDINGS LLC 300 3RD AVE STE 2 WALTHAM,MA02451 04-3520886	INVESTMENTS	DE	BAYNORTH REALTY FUND IV LP	Excluded	1,528,870	12,129,221		No			No	89.15 %
(44) CROWN ATLANTIC INTL OLIVE LLC 767 5TH AVE STE 2400 NEW YORK,NY10153 47-1830643	INVESTMENTS	DE	CROWN ATLANTIC RETAIL I LLC	Excluded	-797,889	4,215,115		No			No	81.43 %
(45) CROWN ATLANTIC RETAIL LLC 767 5TH AVE STE 2400 NEW YORK,NY10153 46-1605646	INVESTMENTS	DE	ATLANTIC URBAN RETAIL INC	Excluded	-1,788,385	41,611,651		No			No	88.04 %
(46) CROWN ICS 5TH ACQUISITIONS LLC 767 5TH AVE STE 2400 NEW YORK,NY10153 47-1827246	INVESTMENTS	DE	ATLANTIC URBAN RETAIL INC	Excluded	-295,046	19,303,385		No			No	60.57 %
(47) CROWN SRP LLC 767 5TH AVE STE 2400 NEW YORK,NY10153 47-2106149	INVESTMENTS	DE	ATLANTIC URBAN RETAIL INC	Excluded	-37,854	0		No			No	80 %
(48) CSH-STAR ESCONDIDO LLC 1275 PENNSYLVANIA AVE NW 2ND FL WASHINGTON,DC20004 61-1674156	INVESTMENTS	DE	CSH PROGRAM REIT INC	Excluded	-1,779,441	0		No			No	88.88 %
(49) CVI CHVF LP 9320 EXCELSIOR BLVD HOPKINS,MN55343 80-0941373	INVESTMENTS	DE	HARVARD MANAGEMENT PRIVATE EQUITY CORP	Excluded	9,672,808	110,737,736		No	21,588		No	100 %
(50) CYPRESS CREEK APARTMENTS LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 46-1403554	INVESTMENTS	DE	IEC ATLANTIC III LLC	Excluded	5,649,049	519,400		No			No	92.83 %
(51) CYPRESS REALTY IV LP 301 CONGRESS AVE STE 500 AUSTIN,TX78701 74-3000106	INVESTMENTS	DE	HARVARD MANAGEMENT PRIVATE EQUITY CORP	Excluded	2,502,093	-1,852,255		No	1,010,755		No	51.63 %
(52) DENHAM COMMODITY PARTNERS FUND II LP 200 CLARENDON ST 25TH FL BOSTON,MA02116 77-0644776	INVESTMENTS	DE	HARVARD PRIVATE CAPITAL HOLDINGS INC	Excluded	12,374,230	65,048,707		No			No	88.07 %
(53) DENHAM COMMODITY PARTNERS FUND III LP 200 CLARENDON ST 25TH FL BOSTON,MA02116 56-2502675	INVESTMENTS	DE	HARVARD PRIVATE CAPITAL HOLDINGS INC	Excluded	2,962,550	2,444,744		No			No	79.64 %
(54) DEVONIAN LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02110 90-0721046	INVESTMENTS	DE	MEDOWLARK LLC	Unrelated	4,024,790	135,683,902		No	2,788,018		No	99.91 %
(55) DS CO-INVESTORS LLC 7121 FAIRWAY DR STE 410 PALM BEACH GARDENS,FL33418 55-0911808	INVESTMENTS	DE	HARVARD PRIVATE CAPITAL REALTY INC	Excluded	2,237,089	86,180,335		No			No	50 %
(56) EAE ATLANTIC LLC 1065 AVE OF THE AMERICAS 31ST FL NEW YORK,NY10024 36-4743445	INVESTMENTS	DE	ATLANTIC WFH INVESTOR LLC	Excluded	568	313,501,703		No			No	90.9 %
(57) GAVEA JUS BG 1 - MASTER LP 3500 S DUPONT HWY DOVER,DE19901 46-2781217	INVESTMENTS	DE	GAVEA JUS BG 1 - FEEDER LP	Excluded	-1,018,190	5,761,056		No			No	100 %
(58) GBE INVESTMENTS LP POB 309GTUGLAND HOUSES CHURCH ST GEORGE TOWN CJ	INVESTMENTS	CJ	BLUE MARBLE HOLDINGS CORP	Excluded	-3,815,046	194,205,940		No			No	98.7 %
(59) GERRITY ATLANTIC RETAIL PARTNERS LLC 977 LOMAS SANTA FE DR STE A SOLANA BEACH,CA92075 27-4257497	INVESTMENTS	DE	ATLANTIC RETAIL WEST LLC	Excluded	8,792,580	166,538,206		No			No	98.28 %
(60) GREENFIELD BLR FINANCE PARTNERS LP 50 NORTH WATER ST SOUTH NORWALK,CT06854 27-4267038	INVESTMENTS	DE	HARVARD MANAGEMENT PRIVATE EQUITY CORP	Excluded	0	370,963		No			No	69.1 %
(61) GREENFIELD BLR PARTNERS LP 50 NORTH WATER ST SOUTH NORWALK,CT06854 20-1221910	INVESTMENTS	DE	HARVARD MANAGEMENT PRIVATE EQUITY CORP	Excluded	48,235	32,976		No			No	69.1 %
(62) GREENHAVEN APARTMENTS LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 27-4746803	INVESTMENTS	DE	IEC ATLANTIC I LLC	Excluded	317,414	33,011,292		No			No	91.63 %
(63) GUEPARDO MASTER FUND LLC 700 14 ANDAR SAO PAULO 04542000 BR 98-0536488	INVESTMENTS	BR	ITAY LLC	Excluded	-8,555,511	41,260,000		No			No	72.99 %
(64) HAMPDEN INSURANCE PARTNERS I LP 94 SOLARIS AVE CAMANA BAY,GRAND CAYMANKY11108 CJ	INVESTMENTS	CJ	HARVARD MANAGEMENT PRIVATE EQUITY CORP	Excluded	0	3,992,563		No			No	99 %
(65) HARVARD COMMINGLED ACCOUNT HMC INC 600 ATLANTIC AVE BOSTON,MA02210 04-3344621	INVESTMENTS	MA	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Excluded	519,528,040	3,767,980,686		No		Yes		95.69 %
(66) HARVARD CV LLC 1033 MASS AVE 3RD FL CAMBRIDGE,MA02138 80-0641747	REAL ESTATE	MA	HARVARD REAL ESTATE CV INC	Excluded	0	0		No			No	99 %
(67) HARVARD INVESTMENT ASSOCIATES HMC INC 600 ATLANTIC AVE BOSTON,MA02210 04-3507407	INVESTMENTS	DE	HARVARD PRIVATE CAPITAL HOLDINGS INC	Excluded	3,764,389	40,007,159		No	49,491		No	100 %
(68) HB INSTITUTIONAL LP 10 ST JAMES AVE STE 1700 BOSTON,MA02116 04-3425685	INVESTMENTS	MA	HARVARD PRIVATE CAPITAL HOLDINGS INC	Excluded	157,227,305	1,970,585,686		No	25,172,734		No	99.39 %
(69) HFMM 770 BAY LP 250 YONGE ST STE 2400 TORONTO,ONTARIOM5B 2M6 CA	INVESTMENTS	CA	ALCION REAL ESTATE PARTNERS LP	Excluded	29,019	8,548		No			No	93.93 %
(70) HFMM LP 4711 YONGE ST STE 1400 TORONTO,ONTARIOM2N 7E4 CA	INVESTMENTS	CA	ALCION REAL ESTATE PARTNERS LP	Excluded	13,733,014	9,971,799		No			No	93.93 %
(71) HMC JUWEEL HOLDINGS LP PO BOX 309 UGLAND HOUSE GEORGE TOWN,GRAND CAYMANKY11104 CJ	INVESTMENTS	CJ	HMC JUWEEL INVESTORS LP	Excluded	0	23,158,647		No			No	99.99 %
(72) IEC ATLANTIC I LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 27-3609237	INVESTMENTS	DE	ATLANTIC MULTIFAMILY HOUSING LLC	Excluded	124,319	50,386,206		No			No	98 %
(73) IEC ATLANTIC II LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 37-1657369	INVESTMENTS	DE	ATLANTIC MULTIFAMILY HOUSING LLC	Excluded	104,404	82,220,512		No			No	98 %
(74) IEC ATLANTIC III LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 32-0390438	INVESTMENTS	DE	ATLANTIC MULTIFAMILY HOUSING III LLC	Excluded	24,517,925	3,698,548		No			No	98.75 %
(75) IEC BREAKWATER LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 45-4447102	INVESTMENTS	DE	IEC ATLANTIC II LLC	Excluded	192,014	16,652,285		No			No	88.2 %
(76) IEC HIDDEN CREEK LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 45-3083079	INVESTMENTS	DE	IEC ATLANTIC I LLC	Excluded	-69,275	16,761,913		No			No	78.4 %
(77) IEC JEFFERSON 2 LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 45-5466161	INVESTMENTS	DE	IEC ATLANTIC II LLC	Excluded	-16,967	0		No			No	83.3 %
(78) IEC JEFFERSON LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 45-3679129	INVESTMENTS	DE	IEC ATLANTIC I LLC	Excluded	-11,819	0		No			No	78.4 %
(79) IEC NINTH AVE LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 45-5466236	INVESTMENTS	DE	IEC ATLANTIC II LLC	Excluded	-14,373	0		No			No	83.3 %
(80) INDY BLUE EQUITY LLC 1360 AVE OF AMERICA NEW YORK,NY10019 45-3668839	INVESTMENTS	DE	INDY BLUE MANAGER LLC	Excluded	2,128,731	39,759,502		No			No	71.93 %
(81) IRON POINT CO-INVESTMENT I LLC 201 MAIN ST STE 2300 FORT WORTH,TX76102 45-4748900	INVESTMENTS	DE	ATLANTIC T5 HOLDINGS LLC	Excluded	0	80,692,448		No			No	84.21 %
(82) IRON POINT REAL ESTATE PARTNERS III-TE (H) LP 201 MAIN ST STE 2300 FORT WORTH,TX76102 61-1740169	INVESTMENTS	DE	ATLANTIC IP3 HOLDINGS LLC	Excluded	-58,474	7,104,023		No			No	99.97 %
(83) IRON POINT REAL ESTATE PARTNERS II-TE (H) LP 201 MAIN ST STE 2300 FORT WORTH,TX76102 45-2502061	INVESTMENTS	DE	ATLANTIC IP HOLDINGS LLC	Unrelated	-874,907	39,088,698		No			No	99.01 %
(84) IRON POINT REAL ESTATE PARTNERS -TE (H) LP 201 MAIN ST STE 2300 FORT WORTH,TX76102 26-0526961	INVESTMENTS	TX	HARVARD PRIVATE CAPITAL REALTY INC	Excluded	7,416,876	44,518,150		No			No	73.45 %
(85) ISLA VISTA ACQUISITION GROUP LLC 353 NORTH CLARK ST STE 730 CHICAGO,IL60654 27-2436234	INVESTMENTS	DE	ATLANTIC STUDENT HOUSING LLC	Excluded	4,007,500	23,521,405		No			No	70 %
(86) ISLAND C-III ATLANTIC HOLDINGS LLC 300 N MAIN ST STE 402 GREENVILLE,SC29601 47-1180960	INVESTMENTS	DE	ATLANTIC C-III LLC	Unrelated	-722,470	13,862,086		No			No	100 %
(87) JEN CAPITAL II REAL ESTATE FUND LP 19 WORLDWIDE HOUSE 19 DES VOEUX RD HONG KONG CH 98-1102667	INVESTMENTS	CH	COMPOSITION CAPITAL ASIA FUND II CV	Excluded	495	1,898,484		No			No	55.61 %
(88) L-A SATURN ACQUISITION LP HMC INC 600 ATLANTIC AVE BOSTON,MA02210 30-0825127	INVESTMENTS	DE	HARVARD PRIVATE CAPITAL REALTY INC	Excluded	0	0		No			No	65.69 %
(89) LIQUID REALTY PARTNERS IV (PF1) LP 101 MARKET ST 769 CAMANA BAY GEORGE TOWN,GRAND CAYMAN CJ 26-0346359	INVESTMENTS	CJ	HARVARD PRIVATE CAPITAL REALTY INC	Excluded	6,751,375	14,038,754		No			No	100 %
(90) LIQUID REALTY PARTNERS IV INVESTMENTS AIV (PF1) LP 199 E LINDA MESA AVE 10 DANVILLE,CA94526	INVESTMENTS	DE	LIQUID REALTY PARTNERS IV TAX EXEMPT (PF1) LTD	Excluded	0	0		No			No	100 %
(91) LIQUID REALTY PARTNERS IV INVESTMENTS II AIV (PF1) LP 199 E LINDA MESA AVE 10 DANVILLE,CA94526	INVESTMENTS	DE	LIQUID REALTY PARTNERS IV TAX EXEMPT (PF1) II LP	Excluded	0	0		No			No	100 %
(92) LIQUID REALTY PARTNERS IV TAX EXEMPT (PF1) LP 101 MARKET ST 769 CAMANA BAY GEORGE TOWN,GRAND CAYMAN CJ 26-0489545	INVESTMENTS	CJ	HARVARD PRIVATE CAPITAL REALTY INC	Excluded	0	1,746,427		No			No	100 %
(93) LMI PEARL APARTMENT HOMES HOLDINGS LLC 700 NW 107TH AVE STE 400 MIAMI,FL33172 36-7457323	INVESTMENTS	DE	BLUE ATLANTIC INVESTORS II INC	Excluded	-590,482	27,503,901		No			No	98 %
(94) LONGFELLOW ATLANTIC HOLDINGS LLC 260 FRANKLIN ST BOSTON,MA02110 80-0965922	INVESTMENTS	DE	ATLANTIC SCIENCE LLC	Excluded	621,946	11,481,532		No			No	99 %
(95) LUBERT-ADLER CAPITAL REAL ESTATE FUND III LP 2929 ARCH ST STE 1650 PHILADELPHIA,PA19104 52-2279515	INVESTMENTS	DE	HARVARD PRIVATE CAPITAL REALTY INC	Unrelated	2,466,957	16,134,014		No			No	77.86 %
(96) LUBERT-ADLER REAL ESTATE FUND VII LP 2929 ARCH ST STE 1650 PHILADELPHIA,PA19104 80-0955742	INVESTMENTS	DE	ATLANTIC LAREF VII LLC	Excluded	-1,914,599	60,369,854		No			No	98.04 %
(97) MCRB LLC 152 WEST 57TH ST 46TH FL NEW YORK,NY10019 46-1235435	INVESTMENTS	DE	SAPPHIRE HOSPITALITY LLC	Excluded	6,263,978	88,768,990		No			No	74.79 %
(98) MCRS LLC 152 WEST 57TH ST 46TH FL NEW YORK,NY10019 27-3637201	INVESTMENTS	DE	SAPPHIRE HOSPITALITY LLC	Excluded	5,006,098	96,052,158		No			No	85.9 %
(99) MDH ATLANTIC HOLDINGS LLC 3715 NSIDE PKWY NW BDLG 400 STE 240 ATLANTA,GA30327 46-5214306	INVESTMENTS	DE	ATLANTIC SOUTHEAST INDUSTRIAL LLC	Excluded	-78,344	19,449,661		No			No	97.67 %
(100) PATIO GARDENS LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 45-5311665	INVESTMENTS	DE	IEC ATLANTIC II LLC	Excluded	497,540	20,014,310		No			No	83.3 %
(101) PSI ATLANTIC HOLDINGS LLC 530 OAK COURT DR STE 185 MEMPHIS,TN37117 46-4391864	INVESTMENTS	DE	ATLANTIC SELF STORAGE LLC	Excluded	-99	26,510,184		No			No	98.67 %
(102) PUTNAM SQUARE APTS CO LP HRES 1350 MASS AVE CAMBRIDGE,MA02138 04-3183446	REAL ESTATE	MA	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Excluded	0	0		No			No	99 %
(103) QUEENS VENTURES LLC 1065 AVE OF THE AMERICAS 31ST FL NEW YORK,NY10024 80-0963664	INVESTMENTS	DE	EAE ATLANTIC II INC	Excluded	-5,775,860	292,910,736		No			No	87.04 %
(104) ROUND TABLE INTEREST RATE INTERMEDIATE FUND LTD WINDWARD I2FLREG OFC PRKW BAY RD KY1 1205 CJ	INVESTMENTS	CJ	ROUND TABLE INTEREST RATE FUND LTD	Excluded	0	0		No			No	59.94 %
(105) RUBY ATLANTIC AJCP HOLDINGS LLC 133 NORTH JEFFERSON ST 4TH FL CHICAGO,IL60661 46-4623957	INVESTMENTS	DE	RUBY ATLANTIC HOSPITALITY LLC	Excluded	-3,080,101	50,784,965		No			No	74.19 %
(106) SOIL INNOVATIONS LLC AV DR CARDOSO DE MELO1340-11 ANDAR SAO PAULO 04548004 BR 90-0538481	INVESTMENTS	DE	PHEMUS CORP	Excluded	-37,003	312,681,230		No			No	100 %
(107) SOUTHWOOD GARDENS LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 45-4154784	INVESTMENTS	DE	IEC ATLANTIC II LLC	Excluded	-460,258	48,441,446		No			No	93.1 %
(108) TETRIS PROPERTY LP 1360 AVE OF AMERICAS NEW YORK,NY10019 46-1625319	INVESTMENTS	DE	USRA ATLANTIC NET LEASE CAPITAL CORP	Excluded	715,001	30,219,591		No			No	71.93 %
(109) THE ECO PRODUCTS FUND 400 MADISON AVE STE 14A NEW YORK,NY10017 26-1329990	INVESTMENTS	DE	PHEMUS CORP	Unrelated	397,677	9,619,911		No	309,068		No	51.02 %
(110) THE TRITON FUND II NO 2 LP 22 GRENVILLE ST ST HELIER JE4 8PX JE	INVESTMENTS	JE	HARVARD MANAGEMENT PRIVATE EQUITY CORP	Excluded	-2,530,320	785,787		No			No	100 %
(111) THE VILLAGE 1 LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 45-3419666	INVESTMENTS	DE	IEC ATLANTIC I LLC	Excluded	-14,797	0		No			No	78.4 %
(112) THE VILLAGE 2 LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 45-3159941	INVESTMENTS	DE	IEC ATLANTIC I LLC	Excluded	-16,667	0		No			No	78.41 %
(113) THE WILDHORN FUND LP POB1234 GT QUNSGTE HSES CRCH ST GEORGE TOWN,GRAND CAYMAN CJ 98-0527266	INVESTMENTS	CJ	HARVARD MANAGEMENT PRIVATE EQUITY CORP	Excluded	-438,619	961,839		No			No	100 %
(114) TRAVIS COAL RESTRUCTURED HOLDINGS LLC 200 CLARENDON ST BOSTON,MA02116 20-2595311	INVESTMENTS	DE	DENHAM COMMODITY PARTNERS FUND II LP	Excluded	-175	110,827,281		No			No	85.2 %
(115) USRA ATLANTIC CAPITAL PARTNERS LLC 1360 AVE OF AMERICA NEW YORK,NY10019 45-2686195	INVESTMENTS	DE	ATLANTIC NET LEASE INVESTOR LLC	Excluded	6,750,733	79,074,629		No			No	71.93 %
(116) VERBENA LLC DBA PURPLE VERBENA LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02110 90-0708621	INVESTMENTS	DE	DEVONIAN LLC	Excluded	4,028,166	135,800,730		No	2,790,418		No	84.7 %
(117) WASHINGTON HEIGHTS I LLC 1065 AVE OF THE AMERICAS 31ST FL NEW YORK,NY10024 80-0858078	INVESTMENTS	DE	EAE ATLANTIC I INC	Excluded	-95,530	15,123,919		No			No	90.9 %
(118) WBH KIRBY HILL CO-INVESTMENT LLC 7121 FAIRWAY DR STE 410 PALM BEACH GARDENS,FL33418 14-1933484	INVESTMENTS	DE	HARVARD PRIVATE CAPITAL REALTY INC	Excluded	0	0		No			No	100 %

Part IV

Identification of Related Organizations Taxable as a Corporation or Trust Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Type of entity (C corp, S corp, or trust)	(f) Share of total income	(g) Share of end-of-year assets	(h) Percentage ownership	(i) Section 512(b)(13) controlled entity?
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Type of entity (C corp, S corp, or trust)	(f) Share of total income	(g) Share of end-of-year assets		Yes	No
(1) 2226081 ONTARIO LTD 333 BAY ST STE 3400 TORONTO,ONTARIOM5H 2S7 CA	INVESTMENTS	CA	ALCION REAL ESTATE PARTNERS LP	C Corporation	14,339,324	16,730,589	93.93 %	Yes
(2) 365 CHURCH STREET LP 4711 YONGE ST STE 1400 TORONTO,ONTARIOM2N 7E4 CA	INVESTMENTS	CA	ATLANTIC TORONTO HOLDINGS INC	C Corporation	-126,835	19,404,489	57.84 %	Yes
(3) ADELAIDE-PETER DEVELOPMENTS 4711 YONGE ST STE 1400 TORONTO,ONTARIOM2N 7E4 CA 98-0684328	INVESTMENTS	CA	ATLANTIC TORONTO HOLDINGS INC	C Corporation	-93,579	52,259,347	53.91 %	Yes
(4) AGRICOLA BRINZAL LTDA AV SANTA MARIA 6350 OFICINA 307 VITACURA,SANTIAGO CI	INVESTMENTS	CI	AGRICOLA E INVERSIONES PAMPA ALEGRE SA	C Corporation	-2,460,508	17,371,563	100 %	Yes
(5) AGRICOLA DURAMEN LTDA AV SANTA MARIA 6350 OFICINA 307 VITACURA,SANTIAGO CI	INVESTMENTS	CI	AGRICOLA E INVERSIONES PAMPA ALEGRE SA	C Corporation	-116,382	3,923,732	100 %	Yes
(6) AGRICOLA E INVERSIONES PAMPA ALEGRE SA AV SANTA MARIA 6350 OFICINA 307 VITACURA,SANTIAGO CI	INVESTMENTS	CI	INVERSIONES TRES CUMBRES LTDA	C Corporation	-1,010,638	14,217,358	100 %	Yes
(7) AGRICOLA EL CARDONAL LTDA DEL INCA NO 4446 OFICINA 1007 LAS CONDES,SANTIAGO CI	INVESTMENTS	CI	CLAG (CHILE) SPA	C Corporation	-927,794	27,729,534	100 %	Yes
(8) AGRICOLA FUNDO BUCALEMU LTDA DEL INCA NO 4446 OFICINA 1007 LAS CONDES,SANTIAGO CI 98-0639220	INVESTMENTS	CI	CLAG (CHILE) SPA	C Corporation	73,764	7,791,847	100 %	Yes
(9) AGRICOLA LOS RIOS SPA AV SANTA MARIA 6350 OFICINA 307 VITACURA,SANTIAGO CI 98-1209592	INVESTMENTS	CI	PHEMUS CORP	C Corporation	586,797	8,576,390	100 %	Yes
(10) AGRICOLA RAPEL LTDA DEL INCA NO 4446 OFICINA 1007 LAS CONDES,SANTIAGO CI 98-0639218	INVESTMENTS	CI	CLAG (CHILE) SPA	C Corporation	-56,311	7,493,523	100 %	Yes
(11) AGRICOLA RETIRO LTDA DEL INCA NO 4446 OFICINA 1007 LAS CONDES,SANTIAGO CI	INVESTMENTS	CI	CLAG (CHILE) SPA	C Corporation	10,544	8,122,052	100 %	Yes
(12) AGRICOLA RIBERA LTDA DEL INCA NO 4446 OFICINA 1007 LAS CONDES,SANTIAGO CI	INVESTMENTS	CI	CLAG (CHILE) SPA	C Corporation	-66,085	2,927,163	100 %	Yes
(13) AGROFLORESTAL VERDE SUL SA RODOVIA RS473KM 22RSSALSO DISTRICT MATARAZZO,RIO GRANDE DO SUL BR	INVESTMENTS	BR	PHEMUS CORP	C Corporation	-3,685,495	37,496,181	100 %	Yes
(14) AQUILA INC WALKER HSE MARY ST POB908GT GEORGE TOWN,GRAND CAYMANKY11104 CJ 98-0532782	INVESTMENTS	CJ	HARVARD MANAGEMENT PRIVATE EQUITY CORP	C Corporation	3,759,748	55,192,646	100 %	Yes
(15) ARA INC WALKER HSE MARY ST POB908GT GEORGE TOWN,GRAND CAYMANKY11104 CJ 98-0543813	INVESTMENTS	CJ	HARVARD MANAGEMENT PRIVATE EQUITY CORP	C Corporation	-4,009,083	2,950,122	100 %	Yes
(16) ARACARI SA PH PLAZA 2000 BLDG 50TH ST REPUBLIC OF PANAMA PM	INVESTMENTS	PM	PHEMUS CORP	C Corporation	0	0	100 %	Yes
(17) ARROWSTREET CAPITAL GLOBAL EQUITY LONG SHORT FUND (FEEDER) LTD PO BOX 309 UGLAND HOUSE GEORGE TOWN,GRAND CAYMANKY11104 CJ 98-1137946	INVESTMENTS	CJ	HARVARD MANAGEMENT PRIVATE EQUITY CORP	C Corporation	17,015,111	117,965,387	60 %	Yes
(18) ASIA LANDMARK SPECIAL FUND LTD OGIER 89 NEXUS WAY CAMANA BAY,GRAND CAYMANKY19007 CJ	INVESTMENTS	CJ	HARVARD MANAGEMENT PRIVATE EQUITY CORP	C Corporation	0	125,000,000	100 %	Yes
(19) ATLANTIC AVENUE REALTY LTD PO BOX 309 UGLAND HOUSE GEORGE TOWN,GRAND CAYMAN CJ 98-0533323	INVESTMENTS	CJ	HARVARD PRIVATE CAPITAL REALTY INC	C Corporation	1,141,991	17,271,688	100 %	Yes
(20) ATLANTIC CT REIT INC 65 ENTERPRISE STE 150 ALISO VIEJO,CA92656 46-2500323	INVESTMENTS	DE	ATLANTIC CT HOLDINGS LLC	C Corporation	184,901	113,976,920	94.32 %	Yes
(21) ATLANTIC DV HOLDINGS LTD PO BOX 309 UGLAND HOUSE GEORGE TOWN,GRAND CAYMANKY11104 CJ 98-1196247	INVESTMENTS	CJ	ATLANTIC INTERNATIONAL REAL ESTATE LLC	C Corporation	28,657,531	80,437,287	100 %	Yes
(22) ATLANTIC EUROPE INVESTMENTS GP LTD 50 LOTHIAN RD FESTIVAL SQUARE EDINBURGH EH39WJ UK	INVESTMENTS	UK	HARVARD PRIVATE CAPITAL REALTY INC	C Corporation	0	0	100 %	Yes
(23) ATLANTIC EUROPE INVESTMENTS LP 50 LOTHIAN RD FESTIVAL SQUARE EDINBURGH EH39WJ UK 98-0670648	INVESTMENTS	UK	HARVARD PRIVATE CAPITAL REALTY INC	C Corporation	1,803,310	23,694,577	100 %	Yes
(24) ATLANTIC FM LTD PO BOX 309 UGLAND HOUSE GEORGE TOWN,GRAND CAYMANKY11104 CJ 98-1249059	INVESTMENTS	CJ	ATLANTIC INTERNATIONAL REAL ESTATE LLC	C Corporation	-27,606	0	100 %	Yes
(25) ATLANTIC NBS LTD 47 ESPLANADE ST HELIER,CHANNEL ISLANDSJEI 0BD JE 98-1220176	INVESTMENTS	JE	ATLANTIC INTERNATIONAL REAL ESTATE LLC	C Corporation	-375,328	6,076,798	100 %	Yes
(26) ATLANTIC NREP LTD PO BOX 309 UGLAND HOUSE GEORGE TOWN,GRAND CAYMANKY11104 CJ 98-1219940	INVESTMENTS	CJ	ATLANTIC INTERNATIONAL REAL ESTATE LLC	C Corporation	1,708,965	9,996,602	100 %	Yes
(27) ATLANTIC P3 PROGRAM REIT INC 4380 LAJOLLA VILLAGE DR STE 230 SAN DIEGO,CA92122 47-2704934	INVESTMENTS	DE	ATLANTIC P3 LIFE SCIENCE HOLDINGS LLC	C Corporation	0	0	99.8 %	Yes
(28) ATLANTIC REGENT REIT INC 11990 SAN VICENTE BLVD STE 200 LOS ANGELES,CA90049 32-0464661	INVESTMENTS	DE	ATLANTIC REGENT HOLDINGS LLC	C Corporation	0	0	98.85 %	Yes
(29) ATLANTIC REIT I INC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 46-3882013	INVESTMENTS	DE	ATLANTIC REIT I HOLDINGS LLC	C Corporation	-331	4,696,655	100 %	Yes
(30) ATLANTIC TORONTO 365 CHURCH STREET GENERAL PARTNER INC 355 BURRARD ST STE 1900 VANCOUVER,BRITISH COLUMBIAV6C 2G8 CA	INVESTMENTS	CA	ATLANTIC TORONTO HOLDINGS INC	C Corporation	0	168	100 %	Yes
(31) ATLANTIC TORONTO A-P GENERAL PARTNER INC 355 BURRARD ST STE 1900 VANCOUVER,BRITISH COLUMBIAV6C 2G8 CA 98-0668180	INVESTMENTS	CA	ATLANTIC TORONTO HOLDINGS INC	C Corporation	0	242	100 %	Yes
(32) ATLANTIC TORONTO GRENVILLE GENERAL PARTNER INC 355 BURRARD ST STE 1900 VANCOUVER,BRITISH COLUMBIAV6C 2G8 CA	INVESTMENTS	CA	ATLANTIC TORONTO HOLDINGS INC	C Corporation	0	320	100 %	Yes
(33) ATLANTIC TORONTO HOLDINGS INC 355 BURRARD ST STE 1900 VANCOUVER,BRITISH COLUMBIAV6C 2G8 CA 98-0668178	INVESTMENTS	CA	ATLANTIC TORONTO LP	C Corporation	0	97,213,781	100 %	Yes
(34) ATLANTIC URBAN RETAIL INC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 32-6261983	INVESTMENTS	DE	ATLANTIC URBAN RETAIL HOLDINGS LLC	C Corporation	-2,171,585	35,937,265	100 %	Yes
(35) AZALEA ROJO LLC HMC INC 600 ATLANTIC AVE BOSTON,MA02110 47-4394154	INVESTMENTS	DE	MANZANITA LLC	C Corporation	0	400,000	100 %	Yes
(36) BAINBRIDGE CC URBANA APARTMENTS REIT INC 12765 W FOREST HILL BLVD STE 1307 WELLINGTON,FL33414 47-1171921	INVESTMENTS	DE	BAINBRIDGE CC URBANA APARTMENTS LLC	C Corporation	409	13,997,404	88.2 %	Yes
(37) BLACK KITE PTY LTD LEVEL 38 201 ELIZABETH ST SYDNEY NSW 2000 AS	INVESTMENTS	AS	BLUE MARBLE HOLDINGS CORP	C Corporation	0	0	100 %	Yes
(38) BLACK KITE TRUST LEVEL 38 201 ELIZABETH ST SYDNEY NSW 2000 AS 98-6063158	INVESTMENTS	AS	SWT LP	C Corporation	54,471,757	77,008,885	100 %	Yes
(39) BLUE ATLANTIC INVESTORS II INC 353 NORTH CLARK ST STE 730 CHICAGO,IL60654 46-1452116	INVESTMENTS	DE	BLUE ATLANTIC ACQUISITION GROUP II LLC	C Corporation	-1,471,333	93,193,785	98 %	Yes
(40) BLUE ATLANTIC INVESTORS INC 353 NORTH CLARK ST STE 730 CHICAGO,IL60654 45-1022813	INVESTMENTS	DE	BLUE ATLANTIC ACQUISITION GROUP LLC	C Corporation	11,760,031	154,179,909	97.8 %	Yes
(41) BLUE ATLANTIC SHUTTLE LLC 353 NORTH CLARK ST STE 730 CHICAGO,IL60654 45-2542872	INVESTMENTS	DE	BLUE ATLANTIC INVESTORS INC	C Corporation	0	120,595	97.8 %	Yes
(42) BRODIAEA INC 5757 PACIFIC AVE STE 222 STOCKTON,CA95207 90-0862085	INVESTMENTS	DE	BELLUM LLC	C Corporation	0	174,969,706	88.9 %	Yes
(43) CARACARA LTD PO BOX 309 UGLAND HOUSE GRAND CAYMAN KY11104 CJ 98-1098610	INVESTMENTS	CJ	SOBRALIA LTD	C Corporation	-2,454	6,850	100 %	Yes
(44) CARACOL AGROPECUARIA LTDA AV CARLOS GOMES 1200 SALA 502 PORTO ALEGRE,RIO GRANDE DO SULCEP 90480 BR 98-0642730	INVESTMENTS	BR	GUARA LLC	C Corporation	-10,830,420	42,259,180	100 %	Yes
(45) CCA JAPAN INVESTMENT BV WTC - TOWER D 12TH FL AMSTERDAM 1077 XV NL	INVESTMENTS	NL	COMPOSITION CAPITAL ASIA FUND CV	C Corporation	4,888	10,368	58.98 %	Yes
(46) CENTRO HARVARD-D ROCKEFELLAR PARA ESTUDIOS LATINAMERICANOS AC EDIF BALMORI ORIZABA 101-102 COL MEXICO CITY DF MX	FACULTY AND STUDENT ACTIVITIES	MX	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	C Corporation	0	0	100 %	Yes
(47) CHARITABLE LEAD TRUSTS (44)	CHARITABLE TRUST	MA	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Trust				Yes
(48) CHARITABLE REMAINDER TRUSTS (778)	CHARITABLE TRUST	MA	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Trust				Yes
(49) CHENNAI 2007 CO IFS LTD IFS COURT TWENTY EIGHT CYBERCITY,EBENE MP 98-0644770	INVESTMENTS	MP	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	C Corporation	7,144,403	171,927,245	100 %	Yes
(50) CHEVAL SP PARTICIPACOES LTDA RUA DO FORUM SN SALA B CENTRO,GUADALUPECEP 64840 BR	INVESTMENTS	BR	TERRACAL ALIMENTOS E BIOENERGIA LTDA	C Corporation	-64,157	1,914,344	98.7 %	Yes
(51) CLAG (CHILE) SPA DEL INCA NO 4446 OFICINA 1007 LAS CONDES,SANTIAGO CI 98-0650099	INVESTMENTS	CI	CLAG LLC	C Corporation	-16,176,286	94,747,072	100 %	Yes
(52) COMPOSITION CAPITAL ASIA FUND CV WTC - TOWER D 12TH FL AMSTERDAM 1077 XV NL 98-0469927	INVESTMENTS	NL	HARVARD PRIVATE CAPITAL REALTY INC	C Corporation	-5,354,690	46,432,470	58.98 %	Yes
(53) COMPOSITION CAPITAL ASIA II FEEDER CV WTC - TOWER D 12TH FL AMSTERDAM 1077 XV NL 98-0563995	INVESTMENTS	NL	HARVARD PRIVATE CAPITAL REALTY INC	C Corporation	7,309,294	47,260,801	81.3 %	Yes
(54) COMPOSITION CAPITAL EUROPE FUND CV WTC - TOWER D 12TH FL AMSTERDAM 1077 XV NL 98-0459793	INVESTMENTS	NL	HARVARD PRIVATE CAPITAL REALTY INC	C Corporation	1,499,603	13,144,248	58.25 %	Yes
(55) COMPOSITION CAPITAL EUROPE II FEEDER CV WTC - TOWER D 12TH FL AMSTERDAM 1077 XV NL 98-0569903	INVESTMENTS	NL	HARVARD PRIVATE CAPITAL REALTY INC	C Corporation	-4,304,704	31,059,661	71.75 %	Yes
(56) COMPOSITION FEEDER GMBH BORSENSTRASSE 2-4 60313 FRANKFURT AM MAIN 60313 GM	INVESTMENTS	GM	COMPOSITION CAPITAL EUROPE FUND CV	C Corporation	-343,822	3,356,021	58.25 %	Yes
(57) COMTEL ASSETS CORP 433 E LAS CALINAS BL IRVING,TX75039 20-3239161	INVESTMENTS	DE	DENHAM COMMODITY PARTNERS FUND III LP	C Corporation	1,691,988	3,427,733	79.64 %	Yes
(58) COMTEL ASSETS INC 433 E LAS CALINAS BL IRVING,TX75039 20-3239269	INVESTMENTS	DE	DENHAM COMMODITY PARTNERS FUND III LP	C Corporation	6,633	140,051	70.12 %	Yes
(59) COOPERATIE CC ASIA KOREA FEEDER UA WTC - TOWER D 12TH FL AMSTERDAM 1077 XV NL	INVESTMENTS	NL	COMPOSITION CAPITAL ASIA FUND CV	C Corporation	-126,717	6,227,025	58.98 %	Yes
(60) COPAYAPU SPA 2939 AV ISIDORA GOYENECHEA 11 FL LAS CONDES,SANTIAGO CI 98-1112517	INVESTMENTS	CI	PALPANA LLC	C Corporation	-670,770	2,283,214	100 %	Yes
(61) CSH PROGRAM REIT II INC 1275 PENNSYLVANIA AVE NW 2ND FL WASHINGTON,DC20004 30-0783361	INVESTMENTS	DE	CORAL SENIOR HOUSING II LLC	C Corporation	-1,571,468	153,197,653	99.5 %	Yes
(62) CSH PROGRAM REIT III INC 1275 PENNSYLVANIA AVE NW 2ND FL WASHINGTON,DC20004 47-0981643	INVESTMENTS	DE	CORAL SENIOR HOUSING III LLC	C Corporation	-65,056	48,539,083	99.5 %	Yes
(63) CSH PROGRAM REIT INC 1275 PENNSYLVANIA AVE NW 2ND FL WASHINGTON,DC20004 27-4280903	INVESTMENTS	DE	CORAL SENIOR HOUSING LLC	C Corporation	-2,743,690	3,083,754	93.56 %	Yes
(64) CSH TRS HOLDING II LLC 1275 PENNSYLVANIA AVE NW 2ND FL WASHINGTON,DC20004 45-4398250	INVESTMENTS	DE	CSH-STAR ESCONDIDO LLC	C Corporation	61,716	0	88.88 %	Yes
(65) CSH TRS HOLDING III LLC 1275 PENNSYLVANIA AVE NW 2ND FL WASHINGTON,DC20004 32-0410113	INVESTMENTS	DE	CSH PROGRAM REIT II INC	C Corporation	-57,146	2,546,027	99.5 %	Yes
(66) CSH TRS HOLDING IV LLC 1275 PENNSYLVANIA AVE NW 2ND FL WASHINGTON,DC20004 35-2508708	INVESTMENTS	DE	CSH PROGRAM REIT III INC	C Corporation	-377,407	388,463	99.5 %	Yes
(67) CSH TRS HOLDING LLC 1275 PENNSYLVANIA AVE NW 2ND FL WASHINGTON,DC20004 27-4286092	INVESTMENTS	DE	CSH PROGRAM REIT INC	C Corporation	215,265	0	93.56 %	Yes
(68) DAIRY FARMS PARTNERSHIP 113 RUTHERFORD RD PUKEKOHE NZ 98-0594944	INVESTMENTS	NZ	DF1 LTD	C Corporation	-10,574,776	67,080,875	100 %	Yes
(69) DG PARTICIPANTS LTD PO BOX 309 UGLAND HOUSE GEORGE TOWN,GRAND CAYMANKY11104 CJ 98-1167777	INVESTMENTS	CJ	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	C Corporation	25,635,000	168,535,000	100 %	Yes
(70) EAE ATLANTIC I INC 1065 AVE OF THE AMERICAS 31ST FL NEW YORK,NY10024 90-0892631	INVESTMENTS	DE	EAE ATLANTIC LLC	C Corporation	-3,125,278	206,097,030	90.9 %	Yes
(71) EAE ATLANTIC II INC 1065 AVE OF THE AMERICAS 31ST FL NEW YORK,NY10024 80-0954229	INVESTMENTS	DE	EAE ATLANTIC LLC	C Corporation	-5,813,390	115,521,852	90.9 %	Yes
(72) EAE ATLANTIC III INC 1065 AVE OF THE AMERICAS 31ST FL NEW YORK,NY10024 30-0835462	INVESTMENTS	DE	EAE ATLANTIC LLC	C Corporation	-1,946,811	207,540,422	90.9 %	Yes
(73) EASTERN ROSELLA TRUST 201 ELIZABETH ST SYDNEY NSW 2000 AS 98-1131698	AGRICULTURE	AS	GREEN ROSELLA TRUST	C Corporation	0	5,832	100 %	Yes
(74) ECO CEBACO SA 52 Y E MENDEZ PO BOX 0816-06805 PM	INVESTMENTS	PM	NICATECA INC	C Corporation	-20,253	20,616,649	100 %	Yes
(75) ECONOMIZA AGROPECUARIA LTDA ESTADA GERAL COND BOA ESPERANCA GRANDE DO RIBEIRO,PIAUI BR	INVESTMENTS	BR	IPE AGROINDUSTRIAL LTDA	C Corporation	1,276,340	2,417,494	96.12 %	Yes
(76) ECUADOR TIMBER LP PO BOX 309 UGLAND HOUSE GRAND CAYMANKY11104 CJ 98-0492706	INVESTMENTS	CJ	PHEMUS CORP	C Corporation	529,129	58,933,764	80 %	Yes
(77) EL MARIA SA V FINTDEL CL TER 2 C ABAJO1 C AL MANAGUA NU	INVESTMENTS	NU	NICARAO LTD	C Corporation	-2,688	715,031	100 %	Yes
(78) EMBARCADERO CAPITAL INVESTORS II REIT INC 1301 SHOREWAY RD STE 250 BELMONT,CA94002 37-1508503	INVESTMENTS	MD	HARVARD PRIVATE CAPITAL REALTY INC	C Corporation	1,688,072	44,622,327	50.62 %	Yes
(79) EMERALD CATASTROPHE FUND LTD STE 193 48 PAR-LA-VILLE RD HAMILTON HM 11 BD	INVESTMENTS	BD	HARVARD MANAGEMENT PRIVATE EQUITY CORP	C Corporation	8,435,931	83,538,759	97.3 %	Yes
(80) EMPRESA ECOLOGICA DEL ORINOCO SAS CRA 9 NO 77 - 67 OFC 804 BOGOTA DC CO	INVESTMENTS	CO	TOUCANET SA	C Corporation	-36,340	4,097,690	100 %	Yes
(81) EMPRESAS VERDES ARGENTINA SA CARLOS PELLEGRINI 1138 PISO 1 CORRIENTES W3400BAT AR	INVESTMENTS	AR	PINO LLC	C Corporation	-1,610,871	22,762,581	100 %	Yes
(82) ESTANCIA CELINA SA SUIPACHA 1111 - PISO 18 BUENOS AIRES C1008AAW AR	INVESTMENTS	AR	LAS MISIONES SA	C Corporation	-417,059	3,115,430	100 %	Yes
(83) FLAMENCO SPA 2939 AV ISIDORA GOYENECHEA 11 FL LAS CONDES,SANTIAGO CI 98-1120387	INVESTMENTS	CI	COPAYAPU SPA	C Corporation	-155,521	442,102	100 %	Yes
(84) FLORESTAS DO SUL AGROFLORESTAL LTDA RUA TAQUARY 335 DRISTAL PORTO ALEGRE CEP 90810 BR 98-0493906	INVESTMENTS	BR	PHEMUS CORP	C Corporation	-26,124,658	89,760,893	100 %	Yes
(85) FORESTAL BOSQUEPALM CIA LTDA AVE PATRIA E4-41 Y AVE AMFL5OFC5 QUITO EC	INVESTMENTS	EC	ECUADOR TIMBER LP	C Corporation	-225,575	27,079,022	79.8 %	Yes
(86) FORESTAL DEL RIO SA CARLOS PELLEGRINI 1138 PISO 1 CORRIENTES W3400BAT AR	INVESTMENTS	AR	PINO LLC	C Corporation	0	0	100 %	Yes
(87) FORESTAL FORESVERGAL CIA LTDA AVE PATRIA E4-41 Y AVE AMFL5OFC5 QUITO EC	INVESTMENTS	EC	ECUADOR TIMBER LP	C Corporation	82,896	29,775,922	79.8 %	Yes
(88) FORTALEZA AGROINDUSTRIAL LTDA FAZENDA FORTALEZA SN - ZONA RURAL SANTA FILOMENA,PIAUI BR	INVESTMENTS	BR	INSOLO AGROINDUSTRIAL	C Corporation	-770,555	10,967,053	96.12 %	Yes
(89) FRANCOLIN PO BOX 309 UGLAND HOUSE GRAND CAYMANKY11104 CJ 98-1006384	INVESTMENTS	CJ	SHIPPING VENTURE CORP	C Corporation	-185,206,416	-30,573,370	100 %	Yes
(90) FRIENDS OF HARVARD HONG KONG TRUST 8 STORY ST CAMBRIDGE,MA02138 47-7237666	TRUST FOR CONTRIBUTIONS	HK	HARVARD GLOBAL RESEARCH AND SUPPORT SERVICES INC	Trust	0	0	100 %	Yes
(91) FSP TRS HOLDING LP 3820 MANSELL RD STE 275 ALPARETTA,GA30022 80-0902908	INVESTMENTS	DE	CORAL-FSP INVESTMENT FUND I LLC	C Corporation	-924,768	425,032	74.85 %	Yes
(92) GALILEIA AGROINDUSTRIAL LTDA AV PEDROSO DE MORAES 12012ANS4 PINHEIROS,SAO PAULO BR	INVESTMENTS	BR	INSOLO AGROINDUSTRIAL SA	C Corporation	-6,509,189	41,671,170	96.12 %	Yes
(93) GATEWAY REAL ESTATE FUND III - TE LP 22ND FL 1 LYNDHURST TOWER HONG KONG KY11111 CH 98-0669480	INVESTMENTS	CH	HARVARD PRIVATE CAPITAL REALTY INC	C Corporation	10,480,029	62,328,591	64.93 %	Yes
(94) GAVEA INVESTMENT FUND II B LP PO986GARD CRT STE 3307 45 MKT ST CAMANA BAY,GRAND CAYMANKY11103 CJ 98-0537951	TRADING	CJ	HARVARD MANAGEMENT PRIVATE EQUITY CORP	C Corporation	-2,597,000	38,825,000	100 %	Yes
(95) GAVEA JUS BG 1 - FEEDER LP PO BOX 309 UGLAND HOUSE GRAND CAYMAN KY11104 CJ 98-1018586	INVESTMENTS	CJ	ITAY LLC	C Corporation	-1,018,190	5,761,056	100 %	Yes
(96) GAVEA JUS BRAZILIAN GOVERNMENT LIABILITIES FUND II-B LP POB 896GT GARD CRTS330745 MKT ST CAMANA BAY KY11103 CJ 98-0702067	INVESTMENTS	CJ	ITAY LLC	C Corporation	-1,043,805	19,961,601	58.63 %	Yes
(97) GBE DEVELOPMENT I LTD PO 309GT UGLAND HSE S CHURCH ST GEORGE TOWN,GRAND CAYMAN CJ	INVESTMENTS	CJ	GBE INVESTMENTS LTD	C Corporation	-6,259	6,390,825	98.7 %	Yes
(98) GBE DEVELOPMENT II LTD PO 309GT UGLAND HSE S CHURCH ST GEORGE TOWN,GRAND CAYMAN CJ	INVESTMENTS	CJ	GBE INVESTMENTS LTD	C Corporation	-2,669	296,100	98.7 %	Yes
(99) GBE DEVELOPMENT III LTD PO 309GT UGLAND HSE S CHURCH ST GEORGE TOWN,GRAND CAYMAN CJ	INVESTMENTS	CJ	GBE INVESTMENTS LTD	C Corporation	-6,239	246,750	98.7 %	Yes
(100) GBE DEVELOPMENT IV LTD PO 309GT UGLAND HSE S CHURCH ST GEORGE TOWN,GRAND CAYMAN CJ	INVESTMENTS	CJ	GBE INVESTMENTS LTD	C Corporation	-8,662	3,784,158	98.7 %	Yes
(101) GBE DEVELOPMENT V LTD PO 309GT UGLAND HSE S CHURCH ST GEORGE TOWN,GRAND CAYMAN CJ	INVESTMENTS	CJ	GBE INVESTMENTS LTD	C Corporation	-37,217	64,743,522	98.7 %	Yes
(102) GBE DEVELOPMENT VI LTD PO 309GT UGLAND HSE S CHURCH ST GEORGE TOWN,GRAND CAYMAN CJ	INVESTMENTS	CJ	GBE INVESTMENTS LTD	C Corporation	-2,669	0	98.7 %	Yes
(103) GBE FAZENDAS LTD AV DAS AMERICAS 700 BLOCO 5 CIDADE DO RIO DE JANEIRO,RIO DE JANEIROCEP 22640 BR	INVESTMENTS	BR	GBE PROPERTIES II LTD	C Corporation	-10,980	4,179,260	98.7 %	Yes
(104) GBE HOLDINGS LTD PO 309GT UGLAND HSE S CHURCH ST GEORGE TOWN,GRAND CAYMAN CJ	INVESTMENTS	CJ	GBE INVESTMENTS LTD	C Corporation	-1,838,516	94,290	98.7 %	Yes
(105) GBE INVESTMENTS LTD PO 309GT UGLAND HSE S CHURCH ST GEORGE TOWN,GRAND CAYMAN CJ	INVESTMENTS	CJ	GBE INVESTMENTS LP	C Corporation	-8,261	192,273,475	98.7 %	Yes
(106) GBE PROJETOS AGRICOLAS II LTDA AV DAS AMERICAS 700 BLOCO 5 CIDADE DO RIO DE JANEIRO,RIO DE JANEIROCEP 22640 BR	INVESTMENTS	BR	GBE DEVELOPMENT II LTD	C Corporation	-73,837	131,186	98.7 %	Yes
(107) GBE PROJETOS AGRICOLAS VII LTDA RUA DO FORUM SN SALA B CENTRO,GUADALUPECEP 64840 BR	INVESTMENTS	BR	TERRACAL ALIMENTOS E BIOENERGIA LTDA	C Corporation	-248	0	98.7 %	Yes
(108) GBE PROPERTIES I LTD PO 309GT UGLAND HSE S CHURCH ST GEORGE TOWN,GRAND CAYMAN CJ	INVESTMENTS	CJ	GBE INVESTMENTS LTD	C Corporation	-3,657	7,264,320	98.7 %	Yes
(109) GBE PROPERTIES II LTD PO 309GT UGLAND HSE S CHURCH ST GEORGE TOWN,GRAND CAYMAN CJ	INVESTMENTS	CJ	GBE INVESTMENTS LTD	C Corporation	-3,656	6,525,057	98.7 %	Yes
(110) GBE PROPERTIES III LTD PO 309GT UGLAND HSE S CHURCH ST GEORGE TOWN,GRAND CAYMAN CJ	INVESTMENTS	CJ	GBE INVESTMENTS LTD	C Corporation	-3,409	1,579,200	98.7 %	Yes
(111) GBE PROPERTIES IV LTD PO 309GT UGLAND HSE S CHURCH ST GEORGE TOWN,GRAND CAYMAN CJ	INVESTMENTS	CJ	GBE INVESTMENTS LTD	C Corporation	-3,409	10,288,488	98.7 %	Yes
(112) GBE PROPERTIES V LTD PO 309GT UGLAND HSE S CHURCH ST GEORGE TOWN,GRAND CAYMAN CJ	INVESTMENTS	CJ	GBE INVESTMENTS LTD	C Corporation	-3,286	9,573,900	98.7 %	Yes
(113) GBE PROPERTIES VI LTD PO 309GT UGLAND HSE S CHURCH ST GEORGE TOWN,GRAND CAYMAN CJ	INVESTMENTS	CJ	GBE INVESTMENTS LTD	C Corporation	-3,409	0	98.7 %	Yes
(114) GBE PROPRIEDADES E EMPREENDIMENTOS IMOBILIARIOS BAHIA LTDA AV DAS AMERICAS 700 BLOCO 5 CIDADE DO RIO DE JANEIRO,RIO DE JANEIROCEP 22640 BR	INVESTMENTS	BR	TERRACAL PROPRIEDADES LTDA	C Corporation	-19,514	4,042,462	98.7 %	Yes
(115) GBE PROPRIEDADES E EMPREENDIMENTOS IMOBILIARIOS PIAUI LTDA AV DAS AMERICAS 700 BLOCO 5 CIDADE DO RIO DE JANEIRO,RIO DE JANEIROCEP 22640 BR	INVESTMENTS	BR	TERRACAL PROPRIEDADES LTDA	C Corporation	-12,650	5,245,285	98.7 %	Yes
(116) GBE PROPRIEDADES E EMPREENDIMENTOS IMOBILIARIOS TOCANTINS LTDA AV DAS AMERICAS 700 BLOCO 5 CIDADE DO RIO DE JANEIRO,RIO DE JANEIROCEP 22640 BR	INVESTMENTS	BR	TERRACAL PROPRIEDADES LTDA	C Corporation	-23,714	14,402,912	98.7 %	Yes
(117) GBE PROPRIEDADES E EMPREENDIMENTOS MINAS GERAIS LTDA AV DAS AMERICAS 700 BLOCO 5 CIDADE DO RIO DE JANEIRO,RIO DE JANEIROCEP 22640 BR	INVESTMENTS	BR	TERRACAL PROPRIEDADES LTDA	C Corporation	7,109	11,769,419	98.7 %	Yes
(118) GBE PROPRIEDADES GUADALUPE LTDA RUA DO FORUM SN SALA B CENTRO,GUADALUPECEP 64840 BR	INVESTMENTS	BR	TERRACAL PROPRIEDADES LTDA	C Corporation	-169	244,613	98.7 %	Yes
(119) GERRITY ATLANTIC RETAIL PARTNERS II INC 977 LOMAS SANTA FE DR STE A SOLANA BEACH,CA92075 46-4417545	INVESTMENTS	DE	GERRITY ATLANTIC RETAIL PARTNERS LLC	C Corporation	2,386,987	152,521,844	98.28 %	Yes
(120) GERRITY ATLANTIC RETAIL PARTNERS INC 977 LOMAS SANTA FE DR STE A SOLANA BEACH,CA92075 27-4802513	INVESTMENTS	DE	GERRITY ATLANTIC RETAIL PARTNERS LLC	C Corporation	6,591,078	343,640,628	98.28 %	Yes
(121) GRANARY INVESTMENTS IFS COURT TWENTY EIGHT CYBERCITY,EBENE MP 98-0607880	INVESTMENTS	MP	DEMETER HOLDINGS CORP	C Corporation	987,438	48,409,346	100 %	Yes
(122) GREEN ROSELLA TRUST 201 ELIZABETH ST SYDNEY NSW 2000 AS 98-1126908	AGRICULTURE	AS	ROSELLA LTD	C Corporation	572,836	54,343,208	100 %	Yes
(123) GREENGOLD AGRIROM SRL 24 CONSTANTIN NOICA ST RO 98-1091760	INVESTMENTS	RO	GREENGOLD EUROPEAN CAPITAL SA	C Corporation	78,264	3,718,585	100 %	Yes
(124) GREENGOLD EUROPEAN CAPITAL SA 5 RUE GUILLAUME KROLL L1882 LU 98-1091994	INVESTMENTS	LU	BELLFLOWER LLC	C Corporation	-104,212	154,267,895	100 %	Yes
(125) GREENGOLD FUTURE TREES SRL 14 BIHORULUI ST BLOCK 21 APP 62 RO 98-1206286	INVESTMENTS	RO	GREENGOLD EUROPEAN CAPITAL SA	C Corporation	-8,051	29,394,520	100 %	Yes
(126) GREENGOLD VALUE FORESTS LATVIA SIA KULDIGAS RAJONS KURM PAGASTS BRALI 3301 LG 98-0648693	INVESTMENTS	LG	GREENGOLD EUROPEAN CAPITAL SA	C Corporation	-254,150	17,000,638	100 %	Yes
(127) GREENGOLD VALUE FORESTS LITHUANIA UAB JOGAILOS G 9 VILNIUS LT01116 LH 98-1117259	INVESTMENTS	LH	GREENGOLD EUROPEAN CAPITAL SA	C Corporation	-619,152	8,413,442	100 %	Yes
(128) GREENGOLD VALUE FORESTS SRL 24 CONSTANTIN NOICA ST RO	INVESTMENTS	RO	GREENGOLD EUROPEAN CAPITAL SA	C Corporation	115,163	117,319,636	100 %	Yes
(129) GUANARE AARL JUNCAL 1327 21 FL MONTEVIDEO 11000 UY 98-0641951	INVESTMENTS	UY	PHEMUS CORP	C Corporation	11,532,915	121,705,483	100 %	Yes
(130) GUANARE SA JUNCAL 1327 21 FL MONTEVIDEO 11000 UY	INVESTMENTS	UY	PHEMUS CORP	C Corporation	15,257,361	297,147,546	100 %	Yes
(131) HARVARD ARASTIRMA VE EGITIM MERKEZI ISTANBUL LIMITED SIRKETI 185 BUYUKDERE CAD KANYON OFIS 3 INSTANBUL 34394 TU	RESEARCH SUPPORT/EVENT SUPPORT	TU	HARVARD INTERNATIONAL LLC	C Corporation	22,524	206,769	100 %	Yes
(132) HARVARD BUSINESS SCHOOL PUBLISHING ASIA PACIFIC LTD 80 RAFFLES PL 25-01 UOB PLAZA SN	SALES SUPPORT	SN	HARVARD BUSINESS SCHOOL PUBLISHING CORP	C Corporation	1,261,460	401,289	100 %	Yes
(133) HARVARD BUSINESS SCHOOL PUBLISHING EUROPE LTD 23 SICILIAN AVE LONDON UK	SALES SUPPORT	UK	HARVARD BUSINESS SCHOOL PUBLISHING CORP	C Corporation	4,508,391	1,944,540	100 %	Yes
(134) HARVARD BUSINESS SCHOOL PUBLISHING FRANCE 23 RUE DU ROULE PARIS FR	SALES SUPPORT	FR	HARVARD BUSINESS SCHOOL PUBLISHING CORP	C Corporation	1,048,441	415,712	100 %	Yes
(135) HARVARD BUSINESS SCHOOL PUBLISHING INDIA PRIVATE LTD UNIT 423 GRAND HYATT MUMBAI MUMBAI IN	PUBLISHING SUPPORT	IN	HARVARD BUSINESS SCHOOL PUBLISHING CORP	C Corporation	2,852,818	1,796,699	100 %	Yes
(136) HARVARD CENTER SHANGHAI CO LTD 5TH FL INTL FIN CTR 8 CENT AVE SHANGHAI 200120 CH	RESEARCH SUPPORT/LOGISTICAL SUPPORT FOR EVENTS	CH	HARVARD INTERNATIONAL LLC	C Corporation	358,631	5,408,484	100 %	Yes
(137) HARVARD PRIVATE CAPITAL PROPERTIES II INC HMC INC 600 ATLANTIC AVE BOSTON,MA02110 04-3140558	INVESTMENTS	DE	HARVARD MANAGEMENT PRIVATE EQUITY CORP	C Corporation	154,666	359,983	100 %	Yes
(138) HARVARD PRIVATE CAPITAL PROPERTIES III INC HMC INC 600 ATLANTIC AVE BOSTON,MA02110 76-0254935	INVESTMENTS	DE	PHEMUS CORP	C Corporation	0	50	100 %	Yes
(139) HARVARD UNIVERSITY PRESS OF NEW YORK HU PRESS 79 GARDEN ST CAMBRIDGE,MA02138 13-3784301	PUBLISHING	NY	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	C Corporation	0	0	100 %	Yes
(140) HARVARD UNIVERSITY PRESS LTD VERNON HOUSE 23 SICILIAN AVE LONDON UK	BOOK DISTRIBUTION	UK	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	C Corporation	5,483,869	2,135,306	100 %	Yes
(141) HB CAYMAN LTD PO BOX 309 GT GRAND CAYMAN CJ	INVESTMENTS	CJ	HB INSTITUTIONAL LP	C Corporation	2,296,846	127,117,967	99.39 %	Yes
(142) HG GULF FZ LLC MAKTOUM ACADMED CTR 2 FL DUBAI AE	EDUCATION AND RESEARCH	AE	HARVARD GLOBAL RESEARCH AND SUPPORT SERVICES INC	C Corporation	0	0	100 %	Yes
(143) HMC ADAGE MANAGER INC HMC INC 600 ATLANTIC AVE BOSTON,MA02110 04-3567988	INVESTMENTS	DE	PHEMUS CORP	C Corporation	-1,305	0	100 %	Yes
(144) HMC JUWEEL INVESTORS LP PO BOX 309 UGLAND HOUSE GEORGE TOWN,GRAND CAYMANKY11104 CJ	INVESTMENTS	CJ	HARVARD MANAGEMENT PRIVATE EQUITY CORP	C Corporation	0	23,161,658	100 %	Yes
(145) HOUND PARTNERS LONG FUND LTD 89 NEXUS WAY CAMANA BAY KY19007 CJ	INVESTMENTS	CJ	HARVARD MANAGEMENT PRIVATE EQUITY CORP	C Corporation	2,606,896	202,390,438	66.5 %	Yes
(146) HPC PATRON SCOTLAND LP 50 LOTHIAN RD FESTIVAL SQUARE EDINBURGH EH3 9BY UK 98-0438748	INVESTMENTS	UK	HARVARD PRIVATE CAPITAL REALTY INC	C Corporation	-22,382,557	133,993,041	100 %	Yes
(147) INSOLO AGROINDUSTRIAL SA AV PEDROSO DE MORAES 12012ANS4 PINHEIROS,SAO PAULO BR	INVESTMENTS	BR	IPA	C Corporation	-33,483,273	136,683,958	96.12 %	Yes
(148) INVERSIONES CATIVAL SA V FINTDEL CL TER 2 C ABAJO1 C AL MANAGUA NU	INVESTMENTS	NU	NICARAO LTD	C Corporation	-2,745	272,339	100 %	Yes
(149) INVERSIONES HEFEI SAC LAS BEGONIAS 475 6TH FL SAN ISIDORO,LIMA PE 98-1111292	INVESTMENTS	PE	MASDEVALLIA LTD	C Corporation	-115,162	8,586,123	100 %	Yes
(150) INVERSIONES LEFKADA SAC LAS BEGONIAS 475 6TH FL SAN ISIDORO,LIMA PE 98-1110859	INVESTMENTS	PE	SOBRALIA LTD	C Corporation	-106,415	8,112,643	100 %	Yes
(151) INVERSIONES MOSQUETA SAC LAS BEGONIAS 475 6TH FL SAN ISIDORO,LIMA PE 98-1110734	INVESTMENTS	PE	MASDEVALLIA LTD	C Corporation	-86,563	12,786,134	100 %	Yes
(152) INVERSIONES PIRONA SAC LAS BEGONIAS 475 6TH FL SAN ISIDORO,LIMA PE 98-1111636	INVESTMENTS	PE	STELIS LTD	C Corporation	-100,615	8,118,776	100 %	Yes
(153) INVERSIONES SANTA RITA SA V FINTDEL CL TER 2 C ABAJO1 C AL MANAGUA NU	INVESTMENTS	NU	NICARAO LTD	C Corporation	-3,469	1,339,519	100 %	Yes
(154) INVERSIONES TRES CUMBRES LTDA ROGER DE FLOR 2736 DP 8 COMUNA LAS CONDES,SANTIAGO CI 98-0446986	INVESTMENTS	CI	PHEMUS CORP	C Corporation	-3,217,451	17,850,378	100 %	Yes
(155) IPE AGROINDUSTRIAL LTDA AV PEDROSO DE MORAES 12012ANS4 PINHEIROS,SAO PAULO BR	INVESTMENTS	BR	INSOLO AGROINDUSTRIAL SA	C Corporation	-23,818,570	118,639,333	96.12 %	Yes
(156) ISLA VISTA FOOD SERVICES LLC 353 NORTH CLARK ST STE 730 CHICAGO,IL60654 27-3070185	INVESTMENTS	DE	ISLA VISTA INVESTORS INC	C Corporation	98,767	190,001	69.86 %	Yes
(157) ISLA VISTA INVESTORS INC 353 NORTH CLARK ST STE 730 CHICAGO,IL60654 27-3070148	INVESTMENTS	DE	ISLA VISTA ACQUISITION GROUP LLC	C Corporation	3,795,856	72,466,102	69.86 %	Yes
(158) JACANA PROPERTIES SA PH PLAZA 2000 BLDG 50TH ST REPUBLIC OF PANAMA PM	INVESTMENTS	PM	PHEMUS CORP	C Corporation	0	0	100 %	Yes
(159) JUNCO PROPERTIES SA PH PLAZA 2000 BLDG 50TH ST REPUBLIC OF PANAMA PM	INVESTMENTS	PM	PHEMUS CORP	C Corporation	0	0	100 %	Yes
(160) LA JACARANDA SA V FINTDEL CL TER 2 C ABAJO1 C AL MANAGUA NU	INVESTMENTS	NU	NICARAO LTD	C Corporation	-1,952	80,557	100 %	Yes
(161) LA MORA SA V FINTDEL CL TER 2 C ABAJO1 C AL MANAGUA NU	INVESTMENTS	NU	NICARAO LTD	C Corporation	-3,612	797,935	100 %	Yes
(162) LA ZARZA SA V FINTDEL CL TER 2 C ABAJO1 C AL MANAGUA NU	INVESTMENTS	NU	NICARAO LTD	C Corporation	-3,783	3,218,439	100 %	Yes
(163) LABELLE SP PARTICIPACOES LTDA RUA DO FORUM SN SALA B CENTRO,GUADALUPECEP 64840 BR	INVESTMENTS	BR	TERRACAL ALIMENTOS E BIOENERGIA LTDA	C Corporation	-431	254	98.7 %	Yes
(164) LAS ACACIAS SA V FINTDEL CL TER 2 C ABAJO1 C AL MANAGUA NU	INVESTMENTS	NU	NICARAO LTD	C Corporation	-12,707	58,595	100 %	Yes
(165) LAS MISIONES SA SUIPACHA 1111 - PISO 18 BUENOS AIRES C1008AAW AR	INVESTMENTS	AR	BT2 CO LLC	C Corporation	-2,744,744	19,371,756	100 %	Yes
(166) LASALLE ASIA OPPORTUNITY CAYMAN I LTD PO BOX 309 UGLAND HOUSE GEORGE TOWN,GRAND CAYMAN CJ 98-0447511	INVESTMENTS	CJ	HARVARD PRIVATE CAPITAL REALTY INC	C Corporation	-4,153,106	1,283,657	100 %	Yes
(167) LIFETIME CENTRECOURT GRENVILLE LP 22 ST CLAIR AVE EAST STE 1010 TORONTO,ONTARIOM4T 2S3 CA 98-0684331	INVESTMENTS	CA	ATLANTIC TORONTO HOLDINGS INC	C Corporation	-51,871	33,653,371	52.61 %	Yes
(168) LINDENE LTD PO BOX 309 UGLAND HOUSE GEORGE TOWN,GRAND CAYMANKY11104 CJ	INVESTMENTS	CJ	HARVARD MANAGEMENT PRIVATE EQUITY CORP	C Corporation	2,350,990	90,386,135	100 %	Yes
(169) LIQUID REALTY PARTNERS IV TAX EXEMPT (PF1) II LP 199 E LINDA MESA AVE 10 DANVILLE,CA94526 98-0560775	INVESTMENTS	JE	LIQUID REALTY PARTNERS IV TAX EXEMPT (PF1) LP	C Corporation	59,209	578,279	100 %	Yes
(170) LIQUID REALTY PARTNERS IV TAX EXEMPT (PF1) LTD 199 E LINDA MESA AVE 10 DANVILLE,CA94526 98-0555927	INVESTMENTS	JE	LIQUID REALTY PARTNERS IV TAX EXEMPT (PF1) LP	C Corporation	-189,673	1,390,125	100 %	Yes
(171) LONGFELLOW ATLANTIC REIT INC 260 FRANKLIN ST BOSTON,MA02110 46-4628691	INVESTMENTS	DE	LONGFELLOW ATLANTIC HOLDINGS LLC	C Corporation	621,946	25,076,251	99 %	Yes
(172) LONGSTOCKING INVESTMENT CORP HMC INC 600 ATLANTIC AVE BOSTON,MA02210 52-2116455	INVESTMENTS	MA	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	C Corporation	-1,416	0	100 %	Yes
(173) LONGTERM FOREST PARTNERS CIA LTDA AVE PATRIA E4-41 Y AVE AMFL5OFC5 QUITO EC	INVESTMENTS	EC	ECUADOR TIMBER LP	C Corporation	-111,685	31,454,286	79.8 %	Yes
(174) LOS ARRAYANES SA V FINTDEL CL TER 2 C ABAJO1 C AL MANAGUA NU	INVESTMENTS	NU	NICARAO LTD	C Corporation	-4,835	1,279	100 %	Yes
(175) LOS LAURELES SA V FINTDEL CL TER 2 C ABAJO1 C AL MANAGUA NU	INVESTMENTS	NU	NICARAO LTD	C Corporation	-2,643	464,171	100 %	Yes
(176) MAGUARI LTD PO BOX 309 UGLAND HOUSE GRAND CAYMAN KY11104 CJ 98-1097957	INVESTMENTS	CJ	MASDEVALLIA LTD	C Corporation	-2,454	13,700	100 %	Yes
(177) MASDEVALLIA LTD PO BOX 309 UGLAND HOUSE GRAND CAYMAN KY11104 CJ 98-1083311	INVESTMENTS	CJ	PHEMUS CORP	C Corporation	-2,454	34,757,920	100 %	Yes
(178) MCRB REAL ESTATE INVESTMENT TRUST INC 152 WEST 57TH ST 46TH FL NEW YORK,NY10019 46-1195422	INVESTMENTS	DE	MCRB LLC	C Corporation	6,193,123	161,295,788	74.79 %	Yes
(179) MCRB TENANT HOLDCO LLC 152 WEST 57TH ST 46TH FL NEW YORK,NY10019 46-1195591	INVESTMENTS	DE	MCRB REAL ESTATE INVESTMENT TRUST INC	C Corporation	1,089,796	1,266,058	74.79 %	Yes
(180) MCRS REAL ESTATE INVESTMENT TRUST INC 152 WEST 57TH ST 46TH FL NEW YORK,NY10019 27-3605599	INVESTMENTS	DE	MCRS LLC	C Corporation	3,669,890	157,256,331	85.9 %	Yes
(181) MCRS TENANT HOLDCO LLC 152 WEST 57TH ST 46TH FL NEW YORK,NY10019 27-3869467	INVESTMENTS	DE	MCRS REAL ESTATE INVESTMENT TRUST INC	C Corporation	-1,123,853	3,655,254	85.9 %	Yes
(182) MDH ATLANTIC REIT INC 3715 NSIDE PKWYNW BLDG 400S240 ATLANTA,GA30327 46-5247314	INVESTMENTS	DE	MDH ATLANTIC HOLDINGS LLC	C Corporation	968,402	58,990,939	97.67 %	Yes
(183) MIRABILIS SA CALLE LAS BEGONIAS 475 DPTO 702 SAN ISIDORO,LIMA PE	INVESTMENTS	PE	PARFEN SA	C Corporation	-90,814	43,761	100 %	Yes
(184) NAZARE AGROINDUSTRIAL LTDA AV PEDROSO DE MORAES 12012ANS4 PINHEIROS,SAO PAULO BR	INVESTMENTS	BR	INSOLO AGROINDUSTRIAL SA	C Corporation	-2,423,822	19,679,598	96.12 %	Yes
(185) NCH AGRIBUSINESS INVESTORS CORP PO 309GT UGLAND HSE S CHURCH ST GEORGE TOWN,GRAND CAYMANKY11104 CJ 98-0559097	INVESTMENTS	CJ	HARVARD PRIVATE CAPITAL REALTY INC	C Corporation	-7,528,911	210,349,181	59.11 %	Yes
(186) NCH INVESTORS FUND (HU) CORP PO BOX 309 UGLAND HOUSE GRAND CAYMAN KY11104 CJ	INVESTMENTS	CJ	PHEMUS CORP	C Corporation	625,000	4,265,108	76.24 %	Yes
(187) NEW VERNON INDIA (CAYMAN) FUND LP 2330 PLAZA FIVE JERSEY CITY,NJ07311 20-1577934	INVESTMENTS	CJ	HARVARD MANAGEMENT PRIVATE EQUITY CORP	C Corporation	8,789,530	81,872,545	99.99 %	Yes
(188) NGL HOLDINGS INC 200 CLARENDON ST BOSTON,MA02116 33-1101243	INVESTMENTS	DE	DENHAM COMMODITY PARTNERS FUND II LP	C Corporation	-30,836,410	1,716,055	88.07 %	Yes
(189) NICA TECA SA V FINTDEL CL TER 2 C ABAJO1 C AL MANAGUA NU	INVESTMENTS	NU	NICARAO LTD	C Corporation	-2,606	2,269,944	100 %	Yes
(190) NICARAO I LTD PO BOX 309 UGLAND HOUSE GRAND CAYMAN KY11104 CJ 98-0643167	INVESTMENTS	CJ	NICARAO LTD	C Corporation	0	523,243	100 %	Yes
(191) NICARAO II LTD PO BOX 309 UGLAND HOUSE GRAND CAYMAN KY11104 CJ 98-0643169	INVESTMENTS	CJ	NICARAO LTD	C Corporation	0	523,243	100 %	Yes
(192) NICARAO LTD PO BOX 309 UGLAND HOUSE GRAND CAYMAN KY11104 CJ 98-0643164	INVESTMENTS	CJ	NICATECA INC	C Corporation	0	51,277,790	100 %	Yes
(193) NICATECA INC WALKER HOUSE 87 MARY ST GEORGE TOWN,GRAND CAYMAN CJ 98-0520487	INVESTMENTS	CJ	PHEMUS CORP	C Corporation	5,369,822	72,507,596	100 %	Yes
(194) OPERA SA V FINTDEL CL TER 2 C ABAJO1 C AL MANAGUA NU	INVESTMENTS	NU	NICARAO LTD	C Corporation	-1,002,154	13,397,860	100 %	Yes
(195) PARFEN SRL JUNCAL 1305 21 FL MONTEVIDEO UY	INVESTMENTS	UY	AZARA LLC	C Corporation	-3,841,707	79,645,221	100 %	Yes
(196) PATRIOT INTEREST HOLDINGS INC 200 CLARENDON ST BOSTON,MA02116 01-0938844	INVESTMENTS	DE	NGL HOLDINGS INC	C Corporation	0	0	88.07 %	Yes
(197) PEARL RETAIL INC PO BOX 309 UGLAND HOUSE GEORGE TOWN,GRAND CAYMANKY11104 CJ 98-1048757	INVESTMENTS	CJ	PEARL RETAIL LLC	C Corporation	76,302,678	251,361,023	100 %	Yes
(198) PERMIAN MIDSTREAM CORP 200 CLARENDON ST BOSTON,MA02116 01-0938834	INVESTMENTS	TX	PATRIOT INTEREST HOLDINGS INC	C Corporation	0	0	88.07 %	Yes
(199) PINARES AARL JUNCAL 1305 21 FL MONTEVIDEO 11000 UY 98-0641950	INVESTMENTS	UY	PHEMUS CORP	C Corporation	-214,108	9,748,499	100 %	Yes
(200) POOLED INCOME FUNDS (3)	CHARITABLE TRUST	MA	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Trust				Yes
(201) PRADARIA AGROFLORESTAL LTDA AVE ALFONSO PENA 3504 RM 73 CTR CAMPO GRANDE,MATO GROSSOCEP 79002 BR 98-0642732	INVESTMENTS	BR	GLOBAL FOREST INVESTMENTS LLC	C Corporation	-22,173,376	95,981,252	100 %	Yes
(202) PROMONTORIA HOLDING MAP BV OUDE UTRECHTSEWEG 32 BAARN 3643 KN NL	INVESTMENTS	NL	CERBERUS MA PARTNERS LP	C Corporation	0	0	96.21 %	Yes
(203) PSI ATLANTIC REIT INC 530 OAK COURT DR STE 185 MEMPHIS,TN37117 46-4502358	INVESTMENTS	DE	PSI ATLANTIC HOLDINGS LLC	C Corporation	-416,499	56,252,697	98.67 %	Yes
(204) PSI ATLANTIC TRS LLC 530 OAK COURT DR STE 185 MEMPHIS,TN37117 46-5654629	INVESTMENTS	DE	PSI ATLANTIC REIT INC	C Corporation	-7,781	49,299	98.67 %	Yes
(205) PULAR SPA 2939 AV ISIDORA GOYENECHEA 11 FL LAS CONDES,SANTIAGO CI	INVESTMENTS	CI	COPAYAPU SPA	C Corporation	-110,164	69,333	100 %	Yes
(206) QUETZAL BLUE SA CALLE 52 Y ELVIRA MENDEZ PANAMAN PM	INVESTMENTS	PM	PHEMUS CORP	C Corporation	0	0	100 %	Yes
(207) REGENT OFFICE FUND II REIT HMC INC 600 ATLANTIC AVE BOSTON,MA02210 47-2081357	INVESTMENTS	DE	REGENT OFFICE FUND II BLOCKER LLC	C Corporation	-423,353	17,997,061	100 %	Yes
(208) REPRESA PROPERTIES LTD PO 309GT UGLAND HSE S CHURCH ST GEORGE TOWN,GRAND CAYMAN CJ	INVESTMENTS	CJ	GBE INVESTMENTS LTD	C Corporation	-19,334	77,358,829	98.7 %	Yes
(209) RETIREMENT PLAN TRUST FOR EMPLOYEES OF HARVARD UNIVERSITY 1033 MASS AVE 3RD FL CAMBRIDGE,MA02138 04-2636388	INVESTMENTS	MA	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	Trust	88,129,432	804,468,016	100 %	Yes
(210) RIO MIRA PARTICIPACOES LTDA AV DAS AMERICAS 700 BLOCO 5 CIDADE DO RIO DE JANEIRO,RIO DE JANEIROCEP 22640 BR	INVESTMENTS	BR	TERRACAL PROPRIEDADES LTDA	C Corporation	-90,281	22,849,443	98.7 %	Yes
(211) ROARING FORK INVESTMENT TRUST 250 YONGE ST STE 4200 TORONTO,ONTARIOM5B 2M6 CA 98-0458290	INVESTMENTS	CA	ALCION REAL ESTATE PARTNERS LP	C Corporation	13,981,835	13,471,964	93.93 %	Yes
(212) ROMPLY MEROPS SRL 28-C C-TIN BUDISTEANUI ST 3RD FL BUCHAREST RO 98-0646095	INVESTMENTS	RO	PHEMUS CORP	C Corporation	-3,585,913	7,467,118	99.99 %	Yes
(213) ROSELLA HOLD TC PTY LTD 201 ELIZABETH ST SYDNEY NSW 2000 AS 98-1126654	AGRICULTURE	AS	BLUE MARBLE HOLDINGS CORP	C Corporation	0	0	100 %	Yes
(214) ROSELLA SUB TC PTY LTD 201 ELIZABETH ST SYDNEY NSW 2000 AS 98-1126678	AGRICULTURE	AS	ROSELLA HOLD TC PTY LTD	C Corporation	0	0	100 %	Yes
(215) ROSELLA LTD PO BOX 309 UGLAND HOUSE GRAND CAYMANKY11104 CJ 98-1120479	AGRICULTURE	CJ	BLUE MARBLE HOLDINGS CORP	C Corporation	-7,935,676	53,537,130	100 %	Yes
(216) ROUND TABLE INTEREST RATE FUND LTD 2ND FLR REGATTA OF PRK W BAY RD GRAND CAYMANKY1 1205 CJ	INVESTMENTS	CJ	BLUE MARBLE HOLDINGS CORP	C Corporation	2,671,332	21,268,394	60 %	Yes
(217) RUBY ATLANTIC AJCP PROGRAM TRS LLC 133 NORTH JEFFERSON ST 4TH FL CHICAGO,IL60661	INVESTMENTS	DE	RUBY ATLANTIC AJCP HOLDINGS LLC	C Corporation	-333,420	1,695,093	74.19 %	Yes
(218) RUBY ATLANTIC REIT INC HMC INC 600 ATLANTIC AVE BOSTON,MA02210 46-4632061	INVESTMENTS	DE	ATLANTIC US REAL ESTATE LLC	C Corporation	-3,080,101	34,135,014	100 %	Yes
(219) SANTA FILOMENA AGROINDUSTRIAL LTDA AV PEDROSO DE MORAES 12012ANS4 PINHEIROS,SAO PAULO BR	INVESTMENTS	BR	IPE AGROINDUSTRIAL LTDA	C Corporation	0	0	95.16 %	Yes
(220) SCOLOPAX SRL BRASOV 8 VICTORIEI ST B1 42 BIS BRASOV COUNTY RO	INVESTMENTS	RO	PHEMUS CORP	C Corporation	31,733,152	2,500,531	99.99 %	Yes
(221) SCOUT CAPITAL LONG TERM LTD 89 NEXUS WAY GEORGE TOWN,GRAND CAYMANKY19007 CJ	INVESTMENTS	CJ	HARVARD MANAGEMENT PRIVATE EQUITY CORP	C Corporation	-1,058,987	0	63 %	Yes
(222) SERRA GRANDE AGROINDUSTRIAL LTDA AV PEDROSO DE MORAES 12012ANS4 PINHEIROS,SAO PAULO BR	INVESTMENTS	BR	INSOLO AGROINDUSTRIAL SA	C Corporation	1,132,119	14,603,937	96.12 %	Yes
(223) SOBRALIA LTD PO BOX 309 UGLAND HOUSE GRAND CAYMAN KY11104 CJ 98-1084076	INVESTMENTS	CJ	PHEMUS CORP	C Corporation	-2,456	9,880,985	100 %	Yes
(224) SOCIEDAD EXPLOTADORA AGRICOLA SPA DEL INCA NO 4446 OFICINA 1007 LAS CONDES,SANTIAGO CI 98-0632838	INVESTMENTS	CI	CLAG (CHILE) SPA	C Corporation	-2,098,935	36,243,780	100 %	Yes
(225) SORA LTD PO BOX 309 UGLAND HOUSE GRAND CAYMAN KY11104 CJ 98-1098256	INVESTMENTS	CJ	STELIS LTD	C Corporation	-2,745	6,850	100 %	Yes
(226) SOROTIVO AGROPECUARIA LTDA AV PEDROSO DE MORAES 12012ANS4 PINHEIROS,SAO PAULO BR	INVESTMENTS	BR	IPE AGROINDUSTRIAL LTDA	C Corporation	2,248,277	4,638,992	96.12 %	Yes
(227) STELIS LTD PO BOX 309 UGLAND HOUSE GRAND CAYMAN KY11104 CJ 98-1083800	INVESTMENTS	CJ	PHEMUS CORP	C Corporation	-2,454	9,880,286	100 %	Yes
(228) SUSTAINABLE TEAK PARTCIPACOES LTDA AVE GVRN P DE ARRUDA 10545 ARPRT VAREZEA GRANDE,MATO GROSSOCEP 78110 BR 98-0639215	INVESTMENTS	BR	BRAZIL TEAK LLC	C Corporation	181,149,706	268,875,139	100 %	Yes
(229) SUSTAINABLE TIMBERS SA AVE JUSTO AROSEMANA 32 ST E CORREGIMIENTO DE CALIDONIA PM	INVESTMENTS	PM	PHEMUS CORP	C Corporation	0	0	100 %	Yes
(230) TACORA SPA 2939 AV ISIDORA GOYENECHEA 11 FL LAS CONDES,SANTIAGO CI	INVESTMENTS	CI	COPAYAPU SPA	C Corporation	-62,292	379,677	100 %	Yes
(231) TAGUA SPA 2939 AV ISIDORA GOYENECHEA 11 FL LAS CONDES,SANTIAGO CI 98-1120143	INVESTMENTS	CI	COPAYAPU SPA	C Corporation	-195,364	329,532	100 %	Yes
(232) TDR SCOTLAND LP ONE STANHOPE GATE LONDON W1K 1AF UK 98-0471766	INVESTMENTS	UK	HARVARD MANAGEMENT PRIVATE EQUITY CORP	C Corporation	8,858,787	0	75.08 %	Yes
(233) TERENA SA JUNCAL 1327 21 FL MONTEVIDEO 11000 UY	INVESTMENTS	UY	PHEMUS CORP	C Corporation	-1,453,820	43,001,337	100 %	Yes
(234) TERRACAL ALIMENTOS E BIOENERGIA - UNIDADE BAHIA LTDA FAZENDA BOQUEIRAO SN ZONA RURAL,BARRACEP 47100 BR	INVESTMENTS	BR	TERRACAL ALIMENTOS E BIOENERGIA LTDA	C Corporation	-222,861	387,317	98.7 %	Yes
(235) TERRACAL ALIMENTOS E BIOENERGIA - UNIDADE MARANHAO LTDA FAZENDA SANTO ANT DA MANGA SN ZONA RURAL,MARANHAOCEP 65660 BR	INVESTMENTS	BR	TERRACAL ALIMENTOS E BIOENERGIA LTDA	C Corporation	-36,619	46,841	98.7 %	Yes
(236) TERRACAL ALIMENTOS E BIOENERGIA - UNIDADE MINAS GERAIS LTDA FAZENDA FLEXAS SN ZONA RURAL,MINAS GERAISCEP 39290 BR	INVESTMENTS	BR	TERRACAL ALIMENTOS E BIOENERGIA LTDA	C Corporation	-861,364	4,210,307	98.7 %	Yes
(237) TERRACAL ALIMENTOS E BIOENERGIA - UNIDADE PIAUI LTDA FAZENDA OITEIROS SN ZONA RURAL,GUADALUPECEP 64840 BR	INVESTMENTS	BR	TERRACAL ALIMENTOS E BIOENERGIA LTDA	C Corporation	-3,693,155	3,058,523	98.7 %	Yes
(238) TERRACAL ALIMENTOS E BIOENERGIA - UNIDADE TOCANTINS LTDA FAZ ESPRODOVIA EST TO-373 KM 101 PEIXE CEP 77460 BR	INVESTMENTS	BR	TERRACAL ALIMENTOS E BIOENERGIA LTDA	C Corporation	518,516	3,385,592	98.7 %	Yes
(239) TERRACAL ALIMENTOS E BIOENERGIA LTDA AV DAS AMERICAS 700 BLOCO 5 CIDADE DO RIO DE JANEIRO,RIO DE JANEIROCEP 22640 BR	INVESTMENTS	BR	GBE DEVELOPMENT V LTD	C Corporation	-10,813,115	14,140,186	98.7 %	Yes
(240) TERRACAL PARTICIPACOES LTDA AV DAS AMERICAS 700 BLOCO 5 CIDADE DO RIO DE JANEIRO,RIO DE JANEIROCEP 22640 BR	INVESTMENTS	BR	REPRESA PROPERTIES LTD	C Corporation	-8,304	569	98.7 %	Yes
(241) TERRACAL PROPRIEDADES LTDA AV DAS AMERICAS 700 BLOCO 5 CIDADE DO RIO DE JANEIRO,RIO DE JANEIROCEP 22640 BR	INVESTMENTS	BR	REPRESA PROPERTIES LTD	C Corporation	-291,418	57,675,147	98.7 %	Yes
(242) THIRD WRANGLER LTD PO BOX 309 UGLAND HOUSE GEORGE TOWN,GRAND CAYMANKY11104 CJ 98-1167470	INVESTMENTS	CJ	PRESIDENT AND FELLOWS OF HARVARD COLLEGE	C Corporation	-3,443,352	130,840,023	100 %	Yes
(243) TINAMOU PO BOX 309 UGLAND HOUSE GRAND CAYMANKY11104 CJ 98-1014421	INVESTMENTS	CJ	FRANCOLIN	C Corporation	0	250,000	100 %	Yes
(244) TOUCANET SA PLAZA 2000 16TH FL 50TH ST REPUBLIC OF PANAMA PM	INVESTMENTS	PM	PHEMUS CORP	C Corporation	-960,484	2,528,260	100 %	Yes
(245) TROGON PROPERTIES SA PH PLAZA 2000 BLDG 50TH ST REPUBLIC OF PANAMA PM	INVESTMENTS	PM	PHEMUS CORP	C Corporation	0	0	100 %	Yes
(246) TUNUYAN SA V FINTDEL CL TER 2 C ABAJO1 C AL MANAGUA NU	INVESTMENTS	NU	NICARAO LTD	C Corporation	-783	5,601,368	100 %	Yes
(247) UNITECA AGROFLORESTAL SA AVE GVRN P DE ARRUDA 10545 ARPRT VAREZEA GRANDE,MATO GROSSOCEP 78110 BR	INVESTMENTS	BR	SUSTAINABLE TEAK PARTCIPACOES LTDA	C Corporation	-21,789	38,007,326	88.89 %	Yes
(248) USRA ATLANTIC NET LEASE CAPITAL CORP 1360 AVE OF AMERICAS NEW YORK,NY10019 45-2732642	INVESTMENTS	DE	USRA ATLANTIC CAPITAL PARTNERS LLC	C Corporation	6,761,883	158,327,036	71.93 %	Yes
(249) VALHOLL LTD PO BOX 309 UGLAND HOUSE GRAND CAYMAN KY11104 CJ 98-0668673	INVESTMENTS	CJ	PHEMUS CORP	C Corporation	-2,462,323	0	100 %	Yes
(250) VERIWASTE LP 20-22 BEDFORD ROW LONDON WC1R 4JS UK 98-0656246	INVESTMENTS	UK	HARVARD MANAGEMENT PRIVATE EQUITY CORP	C Corporation	-702	0	100 %	Yes
(251) VISTA VERDE AGROINDUSTRIAL LTDA AV PEDROSO DE MORAES 12012ANS4 PINHEIROS,SAO PAULO BR	INVESTMENTS	BR	INSOLO AGROINDUSTRIAL SA	C Corporation	-1,726,898	19,802,845	96.12 %	Yes
(252) WESTERN ROSELLA TRUST 201 ELIZABETH ST SYDNEY NSW 2000 AS 98-1126861	AGRICULTURE	AS	GREEN ROSELLA TRUST	C Corporation	-3,512,322	106,271,283	100 %	Yes

Schedule R (Form 990) 2014

Page 3

Part V

Transactions With Related Organizations Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.

Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.

Yes

1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?

a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity . . . . . . . . . . . . . . . . . . . . . . .

Yes

b Gift, grant, or capital contribution to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

c Gift, grant, or capital contribution from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

d Loans or loan guarantees to or for related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

e Loans or loan guarantees by related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

f Dividends from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

g Sale of assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

h Purchase of assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

i Exchange of assets with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

j Lease of facilities, equipment, or other assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

k Lease of facilities, equipment, or other assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

l Performance of services or membership or fundraising solicitations for related organization(s) . . . . . . . . . . . . . . . . . . . .

Yes

m Performance of services or membership or fundraising solicitations by related organization(s) . . . . . . . . . . . . . . . . . . . .

Yes

n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) . . . . . . . . . . . . . . . . . . . . .

Yes

o Sharing of paid employees with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

p Reimbursement paid to related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

q Reimbursement paid by related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

r Other transfer of cash or property to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

s Other transfer of cash or property from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.

(a) Name of related organization	(b) Transaction type (a-s)	(c) Amount involved	(d) Method of determining amount involved
(1) AFRICA ACADEMY FOR PUBLIC HEALTH	R	282,107	CASH
(2) AMERICAN REPERTORY THEATRE COMPANY INC	B	2,621,217	CASH
(3) AMERICAN REPERTORY THEATRE COMPANY INC	D	2,236,993	CASH
(4) AMERICAN REPERTORY THEATRE COMPANY INC	J	853,000	CASH
(5) AMERICAN REPERTORY THEATRE COMPANY INC	L	450,000	COST
(6) AMERICAN REPERTORY THEATRE COMPANY INC	M	631,817	CASH
(7) ASSOCIACAO DAVID ROCKEFELLER CENTER DE UNIVERSIDADE DE HARVARD	R	722,000	CASH
(8) BLUE MARBLE HOLDINGS CORP	R	122,887,848	CASH
(9) BLUE MARBLE HOLDINGS CORP	S	177,304,662	CASH
(10) BOTSWANA-HARVARD AIDS INSTITUTE	O	22,659	COST
(11) BOTSWANA-HARVARD AIDS INSTITUTE	R	6,721,246	CASH
(12) CENTRE RECHERCHE EUROPEEN DE LA HBS	B	1,517,612	CASH
(13) CENTRE RECHERCHE EUROPEEN DE LA HBS	O	16,197	COST
(14) CENTRO HARVARD-D ROCKEFELLAR PARA ESTUDIOS LATINAMERICANOS AC	R	62,000	CASH
(15) CHENNAI 2007	R	59,625,653	CASH
(16) DEMETER HOLDINGS CORP	R	118,300,219	CASH
(17) DEMETER HOLDINGS CORP	S	91,135,723	CASH
(18) DG PARTICIPANTS LTD	R	25,610,000	CASH
(19) DUBAI HARVARD FOUNDATION FOR MEDICAL RESEARCH INC	C	1,672,458	CASH
(20) DUBAI HARVARD FOUNDATION FOR MEDICAL RESEARCH INC	N	15,460	COST
(21) DUBAI HARVARD FOUNDATION FOR MEDICAL RESEARCH INC	O	279,207	COST
(22) FRIENDS OF HARVARD HONG KONG TRUST	S	5,200,000	CASH
(23) FUNDACION CENTRO DE INVESTIGACION DE LA ESCUELA DE ADMIN DE EMPRESA	B	325,000	CASH
(24) FUNDACION CENTRO DE INVESTIGACION DE LA ESCUELA DE ADMIN DE EMPRESA	D	30,000	CASH
(25) FUNDACION CENTRO DE INVESTIGACION DE LA ESCUELA DE ADMIN DE EMPRESA	O	119,575	COST
(26) FUNDACION DRCLAS CHILE	R	530,000	CASH
(27) GIOVANNI ARMENISE-HARVARD FOUNDATION FOR SCIENTIFIC RESEARCH INC	C	4,175,000	CASH
(28) GIOVANNI ARMENISE-HARVARD FOUNDATION FOR SCIENTIFIC RESEARCH INC	N	13,272	COST
(29) GIOVANNI ARMENISE-HARVARD FOUNDATION FOR SCIENTIFIC RESEARCH INC	O	398,812	COST
(30) HANSJORG WYSS INST FOR BIOLOGICALLY INSPIRED ENGINEERING AT HARVARD UNIV IN C	A	926,460	CASH
(31) HANSJORG WYSS INST FOR BIOLOGICALLY INSPIRED ENGINEERING AT HARVARD UNIV IN C	B	1,025,000	CASH
(32) HANSJORG WYSS INST FOR BIOLOGICALLY INSPIRED ENGINEERING AT HARVARD UNIV IN C	L	1,400,000	COST
(33) HANSJORG WYSS INST FOR BIOLOGICALLY INSPIRED ENGINEERING AT HARVARD UNIV IN C	Q	2,736,281	COST
(34) HANSJORG WYSS INST FOR BIOLOGICALLY INSPIRED ENGINEERING AT HARVARD UNIV IN C	S	198,881	CASH
(35) HARVARD ARASTIRMA VE EGITIM MERKEZI ISTANBUL LIMITED SIRKETI	M	675,869	COST
(36) HARVARD BUSINESS SCHOOL INTERACTIVE INC	Q	16,764,107	COST
(37) HARVARD BUSINESS SCHOOL INTERACTIVE INC	S	12,787,929	CASH
(38) HARVARD BUSINESS SCHOOL PUBLISHING ASIA PACIFIC LTD	P	359,633	COST
(39) HARVARD BUSINESS SCHOOL PUBLISHING CORP	A	14,371,297	CASH
(40) HARVARD BUSINESS SCHOOL PUBLISHING CORP	G	172,445	COST
(41) HARVARD BUSINESS SCHOOL PUBLISHING CORP	H	5,592,218	COST
(42) HARVARD BUSINESS SCHOOL PUBLISHING CORP	Q	10,666,660	COST
(43) HARVARD BUSINESS SCHOOL PUBLISHING CORP	S	31,760,694	CASH
(44) HARVARD BUSINESS SCHOOL PUBLISHING EUROPE LTD	N	151,309	COST
(45) HARVARD BUSINESS SCHOOL PUBLISHING EUROPE LTD	P	491	COST
(46) HARVARD BUSINESS SCHOOL PUBLISHING FRANCE	N	10,040	COST
(47) HARVARD BUSINESS SCHOOL PUBLISHING INDIA PRIVATE LTD	G	283,317	COST
(48) HARVARD BUSINESS SCHOOL PUBLISHING INDIA PRIVATE LTD	M	4,816	COST
(49) HARVARD CENTER SHANGHAI CO LTD	M	4,970,553	COST
(50) HARVARD COMMINGLED ACCOUNT	S	400,000,000	CASH
(51) HARVARD DEDICATED ENERGY LIMITED	H	19,134,011	COST
(52) HARVARD GLOBAL RESEARCH AND SUPPORT SERVICES INC	M	1,565,477	COST
(53) HARVARD MAGAZINE INC	A	122,551	COST
(54) HARVARD MAGAZINE INC	R	1,530,000	CASH
(55) HARVARD MANAGEMENT COMPANY INC	D	12,174,658	CASH
(56) HARVARD MANAGEMENT COMPANY INC	L	1,231,251	COST
(57) HARVARD MANAGEMENT COMPANY INC	M	210,425,323	CASH
(58) HARVARD MANAGEMENT PRIVATE EQUITY CORP	R	2,891,119,239	CASH
(59) HARVARD MANAGEMENT PRIVATE EQUITY CORP	S	2,968,971,271	CASH
(60) HARVARD NEURODISCOVERY CENTER INC	C	1,960,867	CASH
(61) HARVARD NEURODISCOVERY CENTER INC	N	969,752	COST
(62) HARVARD NEURODISCOVERY CENTER INC	O	1,727,613	COST
(63) HARVARD PRIVATE CAPITAL HOLDINGS INC	R	5,665,751	CASH
(64) HARVARD PRIVATE CAPITAL HOLDINGS INC	S	300,603,595	CASH
(65) HARVARD PRIVATE CAPITAL REALTY INC	R	1,604,732,771	CASH
(66) HARVARD PRIVATE CAPITAL REALTY INC	S	1,787,458,671	CASH
(67) HARVARD REAL ESTATE - ALLSTON INC	R	2,213,226	CASH
(68) HARVARD REAL ESTATE INC	C	58,252	CASH
(69) HARVARD UNIVERSITY PRESS OF NEW YORK	P	536,852	COST
(70) HARVARD UNIVERSITY PRESS LTD	D	1,987,345	CASH
(71) HARVARD UNIVERSITY PRESS LTD	G	3,869,035	COST
(72) HARVARD UNIVERSITY PRESS LTD	L	150,000	COST
(73) HARVARD UNIVERSITY PRESS LTD	P	154,112	COST
(74) HARVARD UNIVERSITY PRESS LTD	S	4,800,000	CASH
(75) LONGSTOCKING INVESTMENT CORP	R	1,416	CASH
(76) PHEMUS CORP	R	622,725,405	CASH
(77) PHEMUS CORP	S	1,322,388,941	CASH
(78) RED TOP INC	S	19,096	CASH
(79) SHIPPING VENTURE CORP	R	53,451,372	CASH
(80) SHIPPING VENTURE CORP	S	28,789,018	CASH
(81) STUDENT CLUBS OF HBS INC	A	19,241	COST
(82) STUDENT CLUBS OF HBS INC	C	40,000	CASH
(83) STUDENT CLUBS OF HBS INC	L	68,500	COST
(84) THIRD WRANGLER LTD	R	417,017,429	CASH
(85) TRUSTEES FOR HARVARD UNIVERSITY	C	10,568,417	CASH
(86) TRUSTEES FOR HARVARD UNIVERSITY	L	9,371,089	COST

Schedule R (Form 990) 2014

Page 4

Part VI

Unrelated Organizations Taxable as a Partnership Complete if the organization answered "Yes" on Form 990, Part IV, line 37.

Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.

(a) Name, address, and EIN of entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	(e) Are all partners section 501(c)(3) organizations?		(f) Share of total income	(g) Share of end-of-year assets	(h) Disproprtionate allocations?		(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	(j) General or managing partner?
(a) Name, address, and EIN of entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	Yes	No	(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No

Schedule R (Form 990) 2014

Page 5

Part VII

Supplemental Information

Provide additional information for responses to questions on Schedule R (see instructions).

Return Reference	Explanation
Schedule R, Part IV IDENTIFICATION OF RELATED ORGANIZATIONS TAXABLE AS A TRUST:	SPLIT INTEREST TRUSTS: THE TRUSTS LISTED ARE DOMICILED IN MASSACHUSETTS, NEW YORK, AND WASHINGTON, D.C.

Schedule R (Form 990) 2014

Additional Data

Software ID:	14000329
Software Version:	2014v1.0

1	Briefly describe the organization’s mission or most significant activities: UNDERGRADUATE, GRADUATE, AND PROFESSIONAL EDUCATION AND RESEARCH ACROSS A BROAD ARRAY OF ACADEMIC DOMAINS.
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	13
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	9
5	Total number of individuals employed in calendar year 2014 (Part V, line 2a) ......	5	35,283
6	Total number of volunteers (estimate if necessary) .............	6	23,000
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	35,737,699
b	Net unrelated business taxable income from Form 990-T, line 34 .........	7b	0

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	2,174,337,778	2,242,963,264
9	Program service revenue (Part VIII, line 2g) .........	1,498,949,480	1,675,362,549
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	2,998,144,402	2,619,718,966
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	68,583,570	71,191,764
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)...................	6,740,015,230	6,609,236,543
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	651,394,503	664,243,938
14	Benefits paid to or for members (Part IX, column (A), line 4).....	0	0
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	2,051,839,119	2,083,952,935
16a	Professional fundraising fees (Part IX, column (A), line 11e).....	359,511	1,220,765
b	Total fundraising expenses (Part IX, column (D), line 25) 167,380,266
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	1,966,404,127	2,026,041,116
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	4,669,997,260	4,775,458,754
19	Revenue less expenses. Subtract line 18 from line 12.......	2,070,017,970	1,833,777,789
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	68,112,313,000	73,518,242,000
21	Total liabilities (Part X, line 26).............	25,901,015,000	29,734,176,000
22	Net assets or fund balances. Subtract line 21 from line 20.....	42,211,298,000	43,784,066,000

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ 3,333,010,438 including grants of $ 498,609,375 ) (Revenue $ 1,571,382,036 )
	EDUCATION AND OTHER INSTITUTIONAL ACTIVITIES: HARVARD UNIVERSITY (THE "UNIVERSITY") IS A PRIVATE, NOT-FOR-PROFIT INSTITUTION OF HIGHER EDUCATION WITH APPROXIMATELY 7,240 UNDERGRADUATE AND 14,190 GRADUATE STUDENTS. ESTABLISHED IN 1636, THE UNIVERSITY INCLUDES THE FACULTY OF ARTS AND SCIENCES (HARVARD COLLEGE), THE JOHN A. PAULSON SCHOOL OF ENGINEERING AND APPLIED SCIENCES, THE DIVISION OF CONTINUING EDUCATION, TEN GRADUATE AND PROFESSIONAL SCHOOLS, THE RADCLIFFE INSTITUTE FOR ADVANCED STUDY, A VARIETY OF RESEARCH MUSEUMS AND INSTITUTES, AND AN EXTENSIVE LIBRARY SYSTEM TO SUPPORT THE TEACHING AND RESEARCH ACTIVITIES OF THE HARVARD COMMUNITY.

4b	(Code: ) (Expenses $ 772,889,860 including grants of $ 165,634,563 ) (Revenue $ 103,980,513 )
	SPONSORED ACTIVITIES, INCLUDING SPONSORED RESEARCH: THE UNIVERSITY INCURRED $772,889,860 IN EXPENSES FUNDED BY SPONSORED AWARDS. THE EQUIVALENT AMOUNT HAS BEEN RECOGNIZED AS REVENUE ON FORM 990, PART VIII, ON LINES 1E (FEDERAL GRANTS), 1F (NON-FEDERAL SPONSORED GRANTS), AND 2B (NON-FEDERAL SPONSORED CONTRACTS). ONLY THE NON-FEDERAL SPONSORED CONTRACTS ON LINE 2B ARE CLASSIFIED AS PROGRAM SERVICE REVENUE AND REPORTED ABOVE. THE UNIVERSITY'S PRINCIPAL SOURCE OF FEDERAL SPONSORED FUNDS IS THE DEPARTMENT OF HEALTH AND HUMAN SERVICES. THE UNIVERSITY ALSO HAS MANY NON-FEDERAL SOURCES OF SPONSORED AWARDS, GRANTS, AND CONTRACTS, INCLUDING RESEARCH INSTITUTES, FOUNDATIONS, STATE AND LOCAL GOVERNMENTS, FOREIGN GOVERNMENTS, AND CORPORATIONS. SPONSORED GRANTS AND CONTRACTS NORMALLY PROVIDE FOR THE RECOVERY OF DIRECT AND INDIRECT COSTS.

4c	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4d	Other program services (Describe in Schedule O.)
	(Expenses $ including grants of $ ) (Revenue $ )
4e	Total program service expenses4,105,900,298

1b	Sub-Total................
c	Total from continuation sheets to Part VII, Section A....
d	Total (add lines 1b and 1c)............	11,514,861	0	1,826,102

				(A) Total revenue	(B) Related or exempt function revenue	(C) Unrelated business revenue	(D) Revenue excluded from tax under sections 512-514
1a	Federated campaigns..1a
b	Membership dues....1b		1,515,431
c	Fundraising events....1c
d	Related organizations...1d
e	Government grants (contributions)1e		548,158,621

f	All other contributions, gifts, grants, and similar amounts not included above1f		1,693,289,212

g	Noncash contributions included in lines 1a-1f:$		191,925,351
h	Total. Add lines 1a-1f.......			2,242,963,264
			Business Code
2a	STUDENT TUITION, ROOM & BOARD		900099	1,312,383,986	1,312,383,986
b	NON-FEDERAL CONTRACTS		900099	103,980,513	103,980,513
c	AUXILIARY HEALTH SERVICES		621400	56,346,660			56,346,660
d	PUBLICATIONS		511130	41,745,698	41,605,614	140,084
e	STUDENT/EMPLOYEE SERVICES		611710	41,257,494		5,159,793	36,097,701
f	All other program service revenue .			119,648,198	63,590,189	31,232,921	24,825,088
g	Total. Add lines 2a–2f........			1,675,362,549
3	Investment income (including dividends, interest, and other similar amounts).......			467,554,615		-795,099	468,349,714
4	Income from investment of tax-exempt bond proceeds..			32			32
5	Royalties...........			38,394,969			38,394,969
		(i) Real	(ii) Personal
6a	Gross rents	70,975,246
b	Less: rental expenses	38,178,451
c	Rental income or (loss)	32,796,795	0
d	Net rental income or (loss).......			32,796,795			32,796,795
		(i) Securities	(ii) Other
7a	Gross amount from sales of assets other than inventory	85,827,971,020	2,568,165
b	Less: cost or other basis and sales expenses	83,676,450,748	1,924,118
c	Gain or (loss)	2,151,520,272	644,047
d	Net gain or (loss)..........			2,152,164,319			2,152,164,319
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ..
	a
b	Less: direct expenses ...b
c	Net income or (loss) from fundraising events..
9a	Gross income from gaming activities. See Part IV, line 19 ...
	a
b	Less: direct expenses ...b
c	Net income or (loss) from gaming activities...
10a	Gross sales of inventory, less returns and allowances .
	a
b	Less: cost of goods sold ..b
c	Net income or (loss) from sales of inventory..
Miscellaneous Revenue			Business Code
11a
b
c
d	All other revenue ....			0	0	0	0
e	Total. Add lines 11a–11d ......			0
12	Total revenue. See Instructions......			6,609,236,543	1,521,560,302	35,737,699	2,808,975,278


				(A) Beginning of year		(B) End of year
1	Cash–non-interest-bearing .............			33,985,000	1	28,817,000
2	Savings and temporary cash investments .........			10,061,000	2	20,091,000
3	Pledges and grants receivable, net ...........			1,589,999,000	3	2,244,777,000
4	Accounts receivable, net .............			102,527,000	4	110,293,000
5	Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of Schedule L ..................
				2,015,000	5	2,354,000
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L
				0	6	0
7	Notes and loans receivable, net .............			373,763,000	7	374,832,000
8	Inventories for sale or use ..............			7,482,000	8	5,987,000
9	Prepaid expenses and deferred charges ..........			133,251,000	9	135,781,000
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	9,941,629,000
b	Less: accumulated depreciation .....	10b	4,047,269,000	5,698,732,000	10c	5,894,360,000
11	Investments—publicly traded securities ..........			30,597,496,000	11	34,479,935,000
12	Investments—other securities. See Part IV, line 11 .....			18,993,598,000	12	19,881,327,000
13	Investments—program-related. See Part IV, line 11 .....			0	13
14	Intangible assets ...............				14
15	Other assets. See Part IV, line 11 ...........			10,569,404,000	15	10,339,688,000
16	Total assets. Add lines 1 through 15 (must equal line 34)......			68,112,313,000	16	73,518,242,000
17	Accounts payable and accrued expenses .........			461,005,000	17	469,920,000
18	Grants payable .................				18
19	Deferred revenue ................			176,847,000	19	193,168,000
20	Tax-exempt bond liabilities .............			3,298,658,000	20	3,251,773,000
21	Escrow or custodial account liability. Complete Part IV of Schedule D..				21
22	Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
	persons. Complete Part II of Schedule L..........			0	22
23	Secured mortgages and notes payable to unrelated third parties ..				23
24	Unsecured notes and loans payable to unrelated third parties ....			2,320,532,000	24	2,311,306,000
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D....................			19,643,973,000	25	23,508,009,000
26	Total liabilities. Add lines 17 through 25.........			25,901,015,000	26	29,734,176,000
	Organizations that follow SFAS 117 (ASC 958), check here and complete lines 27 through 29, and lines 33 and 34.
27	Unrestricted net assets ..............			9,166,686,000	27	9,631,923,000
28	Temporarily restricted net assets ...........			25,850,724,000	28	26,785,369,000
29	Permanently restricted net assets ...........			7,193,888,000	29	7,366,774,000
	Organizations that do not follow SFAS 117 (ASC 958), check here and complete lines 30 through 34.
30	Capital stock or trust principal, or current funds ........				30
31	Paid-in or capital surplus, or land, building or equipment fund .....				31
32	Retained earnings, endowment, accumulated income, or other funds				32
33	Total net assets or fund balances ...........			42,211,298,000	33	43,784,066,000
34	Total liabilities and net assets/fund balances ........			68,112,313,000	34	73,518,242,000

1	Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If "Yes,"the organization may be required to file Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation (see Instructions for Form 926)......................................	Yes	No
2	Did the organization have an interest in a foreign trust during the tax year? If "Yes," the organization may be required to file Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, and/or Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner (see Instructions for Forms 3520 and 3520-A; do not file with Form 990)............................	Yes	No
3	Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 5471, Information Return of U.S. Persons with Respect to Certain Foreign Corporations. (see Instructions for Form 5471)..............................	Yes	No
4	Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If “Yes,” the organization may be required to file Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. (see Instructions for Form 8621)...............................................	Yes	No
5	Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be required to file Form 8865, Return of U.S. Persons with Respect to Certain Foreign Partnerships. (see Instructions for Form 8865)....................................	Yes	No
6	Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be required to file Form 5713, International Boycott Report (see Instructions for Form 5713; do not file with Form 990).....................................	Yes	No