Alumni Fund Expects Annual Drive Cutback To Net $750,000 Loss

More than $750,000 must be subtracted from donations to the Program for Harvard College to make up losses incurred as a result of curtailment of the activities of the Harvard Fund Council's annual solicitation of alumni.

Although the Fund drive is now $70,000 ahead of last year at this time, follow-up solicitations have been discontinued in deference to the Program campaign, according to David McCord '26, executive secretary of the Fund Council. A quarter of the usual million dollars of annual gifts is not expected this year, and the loss of another $500,000 will be incurred when the Fund's activities are discontinued until July, 1958.

No restrictions are placed on donations to the Fund, but they are not used for additions to the College's physical plant. While the Fund Council is curtailing its operations, unrestricted revenue must be withdrawn from Program funds other than those earmarked for construction. The burden of the withdrawal will then fall entirely on donations allocated for faculty salaries, student aid, and library endowment.

Pledges to the Program will be collected over a period of several years, so contributions to the Harvard Fund are expected to diminish during the two or three years following the end of solicitation of "lifetime" gifts for the Program for Harvard College.

The Harvard Fund Council collected $841,000 from 19,000 alumni last year and would probably have reached the million dollar mark in 1957 if the fall follow-up campaign had not been cancelled, McCord said.