Bringing in Bucks

In what has become an annual rite of the Harvard financial scene, the Harvard College Fund announced this week it has again bested its record, topping the $5 million mark in its alumni drive five weeks ahead of last year's record.

Peter F. Clifton '49, executive director of the fund, sees no problems ahead in reaching the fund's goal of $6.5 million by June 30. "We're looking enviously at $7 million right now," Clifton says.

When the fund finishes off the year, it will temporarily shut down its annual alumni drive to apply its energies to the planned five-year, $250 million capital fund campaign.

The fund has boosted its total over the last five years through an extensive network of class agents in different areas of the country, and this year a big telephone soliciting marathon starting April 23 will help in their annual record-breaking gymnastics.

College Fund money budget, but in factor in the Faculty budget, but in recent years alumni fundraisers have encouraged attractive gifts to the endowment. Such donations help the college in the long run, but cause trouble for Faculty administrators trying to balance the budget, because they need gifts of unrestricted money--which they can use wherever they need it.

Robert E. Kaufmann '62, associate dean of the Faculty for finance and administration, said this week he doubts the fund will meet the $4.8 million in unrestricted funds the Faculty counted on for its budget next year.

"We feel we'll still be able to balance the budget because of other factors," Kaufmann added.

"We would have to raise $8 million total to reach that goal of $4.8 million unrestricted dollars," Clifton said yesterday.

Kaufmann said unrestricted money made 75 per cent of the College Fund's contribution to the Faculty in 1972, and only 55 per cent this year. But Clifton said the unrestricted figure was at a temporary low because of bookkeeping quirks, and would soon rise to more desirable 65 per cent level.

No matter what the balance between different types of money the fund nets, through the total take keeps climbing--and keeps officials happy.