Harvard Built a Shock-Proof Balance Sheet That Trump Now Tests

Harvard University’s balance sheet — fortified to withstand surprise blows — is facing an unprecedented test as it faces off with the Trump administration.

The wealthiest US college has long hoarded cash and built its budget to withstand “shocks” as the Ivy League school put it in its financial statement. It’s armed with pristine credit ratings and a $53 billion endowment — the most of any school.

That affluence makes it well situated to weather the strongest blow yet when a task force under President Donald Trump announced it would freeze $2.2 billion in federal money after the school ...