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Harvard Faces $113 Million Budget Shortfall After Trump Cuts
Illustrative: Anti-Zionist Harvard students participating in a sit-in against Israel amid its war targeting Hamas terrorists in Gaza. Cambridge, Massachusetts, US, Nov. 16, 2023. Photo: Brian Snyder via Reuters Connect
Harvard University registered a $113 million budget deficit caused chiefly by the Trump administration’s confiscation of much of its federal contracts and grants as punishment for, among other alleged misdeeds, its admitted failure to combat antisemitism on campus, a Harvard report revealed last week.
According to Harvard’s “Financial Report: Fiscal Year 2025,” the university’s spending exceeded the $6.7 billion it amassed from donations, taxpayer support, tuition, and other income sources, such as endowment funds earmarked for operational expenses. Harvard also suffered a steep deficit in non-restricted donor funds, $212 million, a possible indication that philanthropists now hesitate to write America’s oldest university a blank check due to its inveterate generating of negative publicity — prompted by such episodes as the institution’s botching the appointment of its first Black president by conferring the honor to a plagiarist and its failing repeatedly to quell antisemitic discrimination and harassment.
Despite the 2025 fiscal year deficit, the total value of Harvard’s endowment grew by 11.9 percent to $56.9 billion, according to the report. However, school officials noted the challenge that federal pressure has presented to its financial situation.
“Even by the standards of our centuries-long history, fiscal year 2025 was extraordinarily challenging, with political and economic disruption affecting many sectors, including higher education,” Harvard president Alan Garber said in a statement. “We continue to adapt to uncertainty and threats to sources of revenue that have sustained our work for many years. We have intensified our efforts to expand our sources of funding.”
US President Donald Trump’s abrupt cancellation of taxpayer funds awarded to Harvard maimed the university as well, dropping its federal sponsored revenue fell by 8 percent to $629 million and incinerating exorbitant dollar amounts from Harvard’s portfolio. Speaking to The Harvard Gazette on Thursday, Harvard’s chief financial officer Ritu Karla pointed to “$116 million in sponsored funds — which are reimbursements for costs the university has already incurred” that “disappeared almost overnight” when Trump penalized Harvard in April.
Harvard will continue to feel Trump’s wrath as it pays out a new tax on endowment investments which Congress imposed on the country’s wealthiest universities in July. Its liability could be as high as $368.2 million, climbing to $454.8 million by 2030, according to an analysis conducted by American Enterprise Institute (AEI) researchers Mark Schneider and Christopher Robinson.
As previously reported by The Algemeiner, in April, Trump ordered the expropriation of $2.26 billion in Harvard’s federal funds after the institution refused to agree to a wishlist of policy reforms that Republican lawmakers said would make higher education more meritocratic and less welcoming to anti-Zionists and far-left extremists. Contained in a letter the administration sent to Garber — who subsequently released it to the public — the policies called for “viewpoint diversity in hiring and admissions,” the “discontinuation of [diversity, equity, and inclusion, or DEI, initiatives],” and “reducing forms of governance bloat.” They also implored Harvard to begin “reforming programs with egregious records of antisemitism” and to recalibrate its approach to “student discipline.”
Harvard refused the president his wishes even after losing the money and took the issue to federal court. Meanwhile, it built a financial war chest, leveraging its GDP-sized assets to issue over $1 billion dollars in new debt and drawing on its substantial cash reserves to keep the lights on. Eventually, it overcame the administration in the first stage of litigation, securing from a judge appointed by former US President Barack Obama restitution of some of the funds the administration impounded — but the nine-figure sum it lost in the process has led to its largest budget deficit since the Covid-19 pandemic, according to The Harvard Crimson.
“We are also examining operations at every level of the university as we seek greater adaptability and efficiency,” Garber said in Thursday’s statement. “In parallel, we continue to ensure that our academic environment nurtures excellence in all of our endeavors. We are promoting open inquiry, constructive dialogue, and viewpoint diversity, and pursuing our priorities with the resolve that the times demand.”
In additional commentary contributed to the report, Harvard treasury officials Timothy Barakett and Ritu Kalra said, “All of these developments have raised new questions about the financial foundations of higher education and underscore a shifting federal policy environment that will shape the future.” They also said that the “this result could have been much worse,” adding, “it reflects not only the magnitude of the disruption, but also the discipline of a university community that acted quickly and with resolve.”
More disruptions are forthcoming, as Harvard may have to fight again for its taxpayer funds before a US Supreme Court with which it lost a historic case that ended racial preferences in admissions, a policy once popularly known as “affirmative action,” because the court found Harvard’s own imposition of the practice on applicants resulted in widespread discrimination against Asian Americans.
Furthermore, Harvard remains under investigation over its handling of campus antisemitism. The US House Committee on Education and the Workforce wrote to Garber last month asking the university to comply with requests for internal communications regarding discrimination complaints filed by Jewish students.
The committee said it is especially interested in documents related to an October 2023 incident in which two anti-Zionists activists, joined by a mob, assaulted a Jewish graduate student while screaming “Shame!” at him as he struggled to free himself.
“Obtaining the documents will aid the committee in considering whether potential legislative changes, including legislation to specifically address antisemitic discrimination, are needed,” said the letter, authored by the committee’s chairman, Rep. Tim Walberg (R-MI), and Rep. Elise Stefanik (R-NY). “Harvard does not appear to have disciplined — and instead has rewarded — two students who assaulted an Israeli Jewish student who was filming a ‘die-in’ protest on Oct. 18, 2023.”
Walberg and Stefanik also demanded confirmation of Harvard’s decision to pause a partnership with Birzeit University in the West Bank. The Harvard-Birzeit partnership was put into abeyance following an internal investigation of Harvard’s François-Xavier Bagnoud Center for Health and Human Rights (FXB), the institution directly affiliated with Birzeit. It is not clear what ultimately caused Harvard to discontinue the arrangement, but it is a move for which prominent members of the Harvard community and federal lawmakers have clamored before.
“As you know, postsecondary institutions that receive federal funds must maintain a safe learning environment and fulfill all obligations under Title VI and its accompanying regulations,” they continued. “This includes the obligation to promptly address discrimination, including harassment that creates a hostile environment, wherever such circumstances may be found to exist.”
Follow Dion J. Pierre @DionJPierre.
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Iran Opposes Grossi’s UN Secretary-General Candidacy, Accuses Him of Failing to Uphold International Law
UN nuclear watchdog chief Rafael Grossi holds a press conference on the opening day of the International Atomic Energy Agency’s (IAEA) quarterly Board of Governors meeting in Vienna, Austria, Sept. 8, 2025. Photo: REUTERS/Elisabeth Mandl
Iran has publicly opposed International Atomic Energy Agency (IAEA) Director-General Rafael Grossi’s potential appointment as UN Secretary-General next year, accusing him of failing to uphold international law by not condemning US and Israeli strikes on Iranian nuclear sites during the 12-day war between Iran and Israel in June.
During a UN Security Council meeting on Monday, Iran’s Ambassador to the UN, Amir Saeid Iravani, sharply criticized Grossi, calling him unfit” to serve as UN Secretary-General next year, Iranian media reported.
“A candidate who has deliberately failed to uphold the UN Charter — or to condemn unlawful military attacks against safeguarded, peaceful nuclear facilities … undermines confidence in his ability to serve as a faithful guardian of the charter and to discharge his duties independently, impartially, and without political bias or fear of powerful states,” the Iranian diplomat said.
With UN Secretary-General Antonio Guterres’ term ending in December next year, member states have already begun nominating candidates to take over the role ahead of the expected 2026 election.
Since the start of the war in Gaza, Israel’s relationship with Guterres has spiraled downward, reaching a low point last year when then-Foreign Minister Israel Katz labeled the UN “antisemitic and anti-Israeli” and declared Guterres persona non grata after the top UN official failed to condemn Tehran for its ballistic missile attack against the Jewish state.
Last week, Argentina officially nominated Grossi to succeed Guterres as the next UN Secretary-General.
To be elected, a nominee must first secure the support of at least nine members of the UN Security Council and avoid a veto from any of its five permanent members — the United States, China, Russia, the United Kingdom, and France.
Afterward, the UN General Assembly votes, with a simple majority needed to confirm the organization’s next leader.
As head of the UN’s nuclear watchdog since 2019, Grossi has consistently urged Iran to provide transparency on its nuclear program and cooperate with the agency, efforts the Islamist regime has repeatedly rejected and obstructed.
Despite Iran’s claims that its nuclear program is solely for civilian purposes rather than weapons development, Western powers have said there is no “credible civilian justification” for the country’s nuclear activity, arguing it “gives Iran the capability to rapidly produce sufficient fissile material for multiple nuclear weapons.”
With prospects for renewed negotiations or nuclear cooperation dwindling, Iran has been intensifying efforts to rebuild its air and defense capabilities decimated during the 12-day war with Israel.
On Monday, Mohammad Eslami, head of the Atomic Energy Organization of Iran (AEOI), declared that the IAEA has no authority to inspect sites targeted during the June war, following Grossi’s renewed calls for Tehran to allow inspections of its nuclear sites and expand cooperation with the agency.
Iran has also announced plans to expand its nuclear cooperation with Russia and advance the construction of new nuclear power plants, as both countries continue to deepen their bilateral relations.
According to AEOI spokesperson Behrouz Kamalvandi, one nuclear power plant is currently operational, while other two are under construction, with new contracts signed during a recent high-level meeting in Moscow.
Kamalvandi also said Iran plans to build four nuclear power plants in the country’s southern region as part of its long-term partnership with Russia.
During a joint press conference in Moscow on Tuesday, Iranian Foreign Minister Abbas Araghchi reiterated Iran’s commitment to defending the country’s “legal nuclear rights” under the now-defunct 2015 nuclear deal, noting that Tehran’s nuclear policies have remained within the international legal framework.
Iran’s growing ties with Russia, particularly in nuclear cooperation, have deepened in recent years as both countries face mounting Western sanctions and seek to expand their influence in opposition to Western powers.
Russia has not only helped Iran build its nuclear program but also consistently defended the country’s “nuclear rights” on the global stage, while opposing the imposition of renewed economic sanctions.
Russian Foreign Minister Sergey Lavrov has described the reinstatement of UN sanctions against Iran as a “disgrace to diplomacy.”
In an interview with the Islamic Republic of Iran News Network (IRINN), Lavrov accused European powers of attempting to blame Tehran for the collapse of the 2015 nuclear deal, despite what he described as Iran’s compliance with the agreement.
Prior to the 12-day war, the IAEA flagged a series of Iranian violations of the deal.
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Eurovision Host Says It Will Not Drown Out Any Boos During Israel’s Performance
ORF executive producer Michael Kroen attends a press conference about the Eurovision Song Contest in Vienna, Austria, Dec. 16, 2025. Photo: REUTERS/Lisa Leutner
The host broadcaster of the next Eurovision Song Contest, Austria’s ORF, will not ban the Palestinian flag from the audience or drown out booing during Israel’s performance as has happened at previous shows, organizers said on Tuesday.
The 70th edition of the contest in May will have just 35 entries, the smallest number of participants since 2003, after five national broadcasters including those of Spain, Ireland, and the Netherlands said they would boycott the show in protest at Israel’s participation.
What is usually a celebration of national diversity, pop music, and high camp has become embroiled in diplomatic strife, with those boycotting saying it would be unconscionable to take part given the number of civilians killed in Gaza during Israel’s military campaign following the Palestinian terrorist group Hamas’s Oct. 7, 2023, invasion of and massacre across southern Israel.
“We will allow all official flags that exist in the world, if they comply with the law and are in a certain form – size, security risks, etc.,” the show’s executive producer, Michael Kroen, told a news conference organized by ORF.
“We will not sugarcoat anything or avoid showing what is happening, because our task is to show things as they are,” Kroen said.
AUSTRIA SUPPORTED ISRAEL PARTICIPATING
The broadcaster will not drown out the sound of any booing from the crowd, as happened this year during Israel’s performance, ORF’s director of programming Stefanie Groiss-Horowitz said.
“We won’t play artificial applause over it at any point,” she said.
Israel’s 2025 entrant, Yuval Raphael, was at the Nova music festival that was a target of the Hamas-led attack. The CEO of Israeli broadcaster KAN had likened the efforts to exclude Israel in 2026 to a form of “cultural boycott.”
ORF and the Austrian government were among the biggest supporters of Israel participating over the objections of countries including Iceland and Slovenia, which will also boycott the next contest in protest. ORF Director General Roland Weissmann visited Israel in November to show his support.
This year’s show drew around 166 million viewers, according to the European Broadcasting Union, more than the roughly 128 million who Nielsen estimates watched the Super Bowl.
The war in Gaza began after Hamas-led terrorists killed 1,200 people, most of them civilians, and seized 251 hostages in an attack on southern Israel.
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Antisemitism Allowed to Fester in Australia, Says Daughter of Wounded Holocaust Survivor
Victoria Teplitsky, daughter of a Holocaust survivor who was wounded at the Bondi shootings, stands at a floral memorial in honor of the victims of the mass shooting targeting a Hanukkah celebration on Sunday, at Bondi Beach, in Sydney, Australia, Dec. 16, 2025. Photo: REUTERS/Jeremy Piper
Government authorities have not done enough to stamp out hatred of Jews in Australia, which has allowed it to fester in the aftermath of Oct. 7, said the daughter of a Holocaust survivor who was wounded at the Bondi shootings on Sunday.
Victoria Teplitsky, 53, a retired childcare center owner, said that the father and son who allegedly went on a 10-minute shooting spree that killed 15 people had been “taught to hate,” which was a bigger factor in the attack than access to guns.
“It’s not the fact that those two people had a gun. It’s the fact that hatred has been allowed to fester against the Jewish minority in Australia,” she told Reuters in an interview.
“We are angry at our government because it comes from the top, and they should have stood up for our community with strength. And they should have squashed the hatred rather than kind of letting it slide,” she said.
“We’ve been ignored. We feel like, are we not Australian enough? Do we not matter to our government?”
The attackers fired upon hundreds of people at a Jewish festival during a roughly 10-minute killing spree, forcing people to flee and take shelter before both were shot by police.
RISING ANTISEMITIC ATTACKS
Antisemitic incidents have been rising in Australia since the war in Gaza erupted after Palestinian terrorist group Hamas killed 1,200 Israelis in an attack on Oct. 7, 2023.
A rise in such incidents in the past sixteen months prompted the head of the nation’s main intelligence agency to declare that antisemitism was his top priority in terms of threat.
“This was not a surprise to the Jewish community. We warned the government of this many, many times over,” Teplitsky said.
“We’ve had synagogues that have been graffitied, graffiti everywhere, and we’ve had synagogues that have been bombed,” she added, referring to a 2024 arson attack in Melbourne in which no one was killed.
Teplitsky’s father Semyon, 86, bled heavily after being shot in the leg, and now is facing several operations as doctors piece bone back together with cement, then remove the cement from the leg, which he still may lose, she said.
“He’s in good spirits, but he’s also very angry. Angry that this happened, that this was allowed to happen in Australia, the country that he took his children to, to be safe, to be away from antisemitism, to be away from Jew hatred.”
Israel’s Prime Minister Benjamin Netanyahu said on Monday that Australian Prime Minister Anthony Albanese “did nothing” to curb antisemitism.
Albanese repeated on Tuesday Australia‘s support for a two-state solution. Anti-Israel, pro-Hamas protests have been common in Australia since Israel launched its offensive in Gaza.
At a press briefing on Monday, Albanese read through a list of actions his government had taken, including criminalizing hate speech and incitement to violence and a ban on the Nazi salute. He also pledged to extend funding for physical security for Jewish community groups.