Harvard Campaign Goal Raised By $100 Million

After six months of deliberation, the University has decided to raise the goal of the five year Harvard Campaign--its largest capital solicitation drive ever--from ever $250 to $350 million. Corporation members confirmed yesterday.

Although the Corporation must finally approve the hike in a meeting today. College Treasurer George Putnam '49, a member of the Corporation said he expected the body to adopt the proposal without much debate. I can't imagine any objection to it, he asked.

In separate meetings, tomorrow, the Corporation and Harvard of Overseer, are also expected to appoint a new Corporation member to replace retiring Erancis H. Burr '35.

Burr, a Boston Lawyer who is stepping down after 28 years of service on the seven man board, said yesterday he believes the announcement might come before Commencement possible even during Class Day ceremonies today.

Hurr and other Corporation members contacted yesterday refused to discuss the identity of the new member but a member of the Board of Overseers implied that the position would be filled by a man. Earlier, there had been speculation that the Corporation might take this opportunity to appoint the first woman to the board. The Overseer also indicated that the nominated corporation member has served on the Board of Overseers.

Although the University began seriously considering raising its campaign goal six months ago, announcement of the decision was delayed because it had to go through various alumni channels. Putnam said, Putna, Burr, and fellow Corporation member Andrew Henkeff 35, all cited inflation on the primary reason for the goal hike. With inflation rising at about 10 percent a year since the Campaign began on 1979, some of the original $250 goal has already been "wiped out" explained Henkeff.

There has been some speculate that of the goals of the Campaign were raised, a greater proportion of the money would go for student aid because of the tremendous governments aids in that area. However, Putnam said the additional $100 million will probably, be divided in the same way as the first $250 million.

$41 million out of the original $250 million is earmarked for financial and

Aimed primarily at improving the College and solidifying the University's $1.7 billion capital base, the Campaign is doing very well, development officials said last week. After only two and a half years of extensive nationwide soliciting, the drive has passed the $496 million mark and will soon go over $200 million, Thomas M. Reardon, director of development, said.

Reardon and other financial officials downplayed the potential effect that the Reagan tax cuts might have had on donations. Last summer, officials feared that tax-cuts such as the lowering of the maximum tax rate from 70 to 50 percent-might discourage giving. This has not been the case, however, they said, pointing out that people don't generally give money for tax reasons.

Despite the general overall progress of the Campaign, Putnam said yesterday that he was disappointed with the number of "very large gifts" thus far, adding that the Corporation was looking for 58.5 million for renovations of the football stadium, among other large needs.

The most popular areas of giving thus far have been for endowing professorships and for student aid, Putnam said. Money for the "bricks and mortar" of house renovations have been lagging, he said, but predicted that funds for those purposes would increase as the College got further along in the renovation projects this summer