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Strings Attached: How Harvard’s Wealthiest Alumni Are Reshaping University Giving
Harold Palmer, Jr., of Scarsdale, N. Y., a Freshman in Harvard College, has been awarded the historic Pennoyer Scholarship, one of the oldest foundations at Harvard for undergraduates of high scholastic standing. Palmer is a graduate of Hotchkiss School.
The scholarship was established in 1670 by William Pennoyer, a London merchant, who bequeathed part of the revenue of a farm in Norfolk, England, to Harvard College. Pennoyer's will stipulated that "Two fellows and two scholars for ever shalbe maintained and brought up in the colledge ... of which one ... may be of the lyne or posterity of ... Robert Pennoyer, ... and the other of the Newhaven Colony." For two and a quarter centuries, Harvard received the rent from the Pennoyer farm. The estate was sold in 1897, and Harvard's share of the proceeds now supports two undergraduate scholarships.
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