April 2, 2012, Cambridge, Mass.: Harvard University's charter of 1650 established the President and Fellows of Harvard College, or the Harvard Corp., as managers of the university's "academic, financial, and physical resources and its fundamental institutional health and progress." Membership had been capped at seven until last July, when three new fellows joined the board. Harvard Corp.'s most notable responsibility: controlling the payout rate of Harvard's endowment, which reached $32 billion in 2011.
Left to right: Patricia A. King, Carmack Waterhouse professor of law, medicine, ethics, and public policy, Georgetown University Law Center; Robert D. Reischauer, president emeritus, the Urban Institute; Drew G. Faust, president and Lincoln professor of history, Harvard University; Susan L. Graham, Pehong Chen professor emerita of computer science, University of California at Berkeley; Lawrence S. Bacow, president emeritus, Tufts University; president in residence, Harvard Graduate School of Education; Joseph J. O'Donnell, chairman, Centerplate; Nannerl O. Keohane, Laurance S. Rockefeller visiting professor, Woodrow Wilson School, Princeton University; William F. Lee, co-managing partner, Wilmer Cutler Pickering Hale & Dorr; Robert E. Rubin, co-chairman, Council on Foreign Relations and former secretary of the Treasury; James F. Rothenberg, principal executive officer and chairman, Capital Research & Management; treasurer, Harvard University
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