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January 26, 2017

Daily News Roundup: Harvard Endowment to Halve Staff in Shake-Up

Harvard to Put Most of Endowment in Outside Hands: The new head of the Harvard Management Company, N.P. Narvekar, announced sweeping changes in how the university’s $35.7 billion fund is managed, with about half of the in-house investment entity’s 230 employees to be laid off, The Wall Street Journal (subscription) reports. Management of the Harvard fund, which has been outperformed in recent years by Ivy League peers, will be largely outsourced.
N.Y. Private Colleges Fear Hit From Governor’s Tuition Plan: Governor Andrew Cuomo’s budget proposes stripping state tuition assistance from students at nonprofit colleges that do not keep a lid on annual fee hikes, a move some academic leaders say will shrink enrollment and restrict students’ freedom of choice, writes The New York Times.

Federal Agents Raid Offices of L.A. Charter-School Nonprofit: FBI and Department of Homeland Security agents searched the headquarters of Celerity Educational Group, which operates seven charters in Southern California and has drawn scrutiny from local officials over its financial arrangement with an affiliated organization that manages the schools, according to the Los Angeles Times.

Partners in Health Steps Into Spotlight at Sundance: Bending the Arc, a documentary about the global medical aid charity that was co-executive produced by activist movie stars Matt Damon and Ben Affleck, premiered this week at the high-profile film festival in Park City, Utah, writes the Associated Press.  

Volunteers Step Up to Help Resettle Refugee Families: Nonprofits are seeing an uptick in volunteerism since the election, The Wall Street Journal (subscription) writes in an article focusing on people working with charities that assist migrant families as President Trump moves to restrict U.S. programs to accept and resettle refugees.