Friday, March 22, 2013

A little perspective: How does the Vatican budget compare to Harvard's?

John L. Allen, Jr., "Harvard's Budget Ten Times that of Vatican" (First Thoughts, March 19, 2013):
“The Vatican has an annual operating budget of under $300 million, while Harvard University, arguably the Vatican of elite secular opinion, has a budget of $3.7 billion, meaning it’s ten times greater. The Vatican’s ‘patrimony,’ what other institutions would call an endowment, is around $1 billion. In this case, Harvard’s ahead by a robust factor of thirty, with an endowment of $30.7 billion.”
Just putting things in a little perspective.

[Hat tip to J.M.]