Harvard Medical School Dean's Report 2023 by Harvard Medical School

Dean’s Report I 2023 HARVARD MEDICAL SCHOOL

On 100 the cover: In tribute to the faculty, staff, postdocs, trainees, and students who lead and serve with passion and dedication, the Gordon Hall of Medicine’s facade is represented in a mosaic of the people of Harvard Medical School. This page: Researchers in neurobiology Chelsea Mapp (left) and Jen Ding use a two-photon microscope to help determine how spatial memories are represented in the mouse hippocampus during navigation.

“The people of HMS embody the workforce that will improve and save human lives. They define that workforce’s values, and they shape its success.”i

From the Dean

“Leadership is a mirror in which people see their collective reflection,” writes author Doris Kearns Goodwin in her book Leadership: In Turbulent Times. Hence the aptness of the cover of this year’s Dean’s Report depicting Gordon Hall’s veined marble veneer as a reflection of the people of HMS. My primary responsibility as dean is to ensure that everyone has the resources to reach their full potential. I am motivated to mirror your stories, your values, your aspirations, and your idealism to illuminate and guide both individual and collaborative enterprise toward the improvement of health and well-being for all. Members of our community also lead from their own unique vantage point, informed by their own lived experiences. For our students, leadership training is indispensable — rapid advances in artificial intelligence and machine learning, health technology, and precision medicine techniques require physicians of the future to navigate high degrees of uncertainty, engage with new models of care delivery, and become restless bioethical adjudicators. Our faculty, too, lead through their relentless commitment to innovative research and teaching, collaborations that extend the impact of basic science insights into the clinic, and educational initiatives that embed health equity into the curriculum. Our postdocs and trainees lead by asking incisive research questions, mentoring students, and building bridges between communities. And our staff and administrators play a critical role in recruiting and retaining talent, fostering an environment of inclusion and belonging, and facilitating productivity. No matter the angle of reflection, each of us at HMS is our own mirror, projecting a sharp, comprehensive vision of quality health care for all.

Teaching and Learning

Opeyemi Awofeso celebrates receiving a master of medical sciences in clinical investigation degree at the Master’s Graduation Ceremony on May 24. Her capstone research project examined quality of life in pediatric cancer care.

To achieve optimal learning conditions and top-notch clinical experiences, Harvard

Medical School is thinking strategically about the state of medical education. We have new leadership to guide us as we double down on this promise. Professor of Neurology Bernard Chang was named the new dean for medical education at HMS, after an intensive national search, and assumed the role on July 31. Chang’s vision for medical education is timely and comprehensive. He believes that HMS students should strive to transcend the traditional milestones and competencies associated with a standard medical school education, and should be inspired to stretch beyond their comfort zones. He maintains that students should be challenged and held to the highest academic standards, and that by the time they graduate, they should have a well-defined mental map of the many routes toward health care leadership. We are excited by Chang’s call for a deepened spirit of inquiry, discovery, and scholarship in our efforts to nurture the next generation of physicians.

MORE EDUCATION NEWS hms.harvard.edu/news/education

To remain at the cutting edge of medical education, we must also envision the physician of the future, who practices in an environment rich with cognitive-support resources that are powered by AI tools. We are asking big questions: How does HMS train our medical students to thrive in the context of this new era in biomedicine? How can we prepare them to be leaders in harnessing the myriad new realities of science and technology to make medicine more effective, economical, and equitable? We are making comprehensive and thoughtful adjustments to our curricular offerings in medical, graduate, and external education so that our students and learners are equipped to use AI models wisely and ethically. These adjustments place a high premium on the curation and verification of AI-generated knowledge so that HMS students will become proficient in employing AI algorithms. They will be trained to optimize the ability of AI to enhance diagnosis and treatment strategies while they maintain vigilance in curating and corroborating the information. In addition to AI, other curricular changes in the Program in Medical Education (PME) are bringing us up to date with much-needed instruction on key aspects of health equity. Last year, HMS completed the first phase of the Sexual and Gender Minority Health Equity Initiative, started in 2018 to train all HMS students and faculty clinicians in providing compassionate, expert health care for individuals who identify as members of the LGBTQIA+ community. HMS is proud to be a leader in this area. Importantly, we’ve introduced an anti-racism subcommittee in our highest-level curricular governance committee, the Educational Policy and Curriculum Committee. This subcommittee is focused on implementing the recommendations of PME’s anti-racism task force.

Our Better Together plan articulates our shared responsibility to champion people of all backgrounds and identities. HMS is, and always will be, firmly committed to its diversity statement and community values. Our Better Together plan, an outgrowth of the Task Force on Diversity and Inclusion that was initiated at HMS long before the U.S. Supreme Court’s rejection of race-conscious admissions, articulates our shared responsibility to champion people of all backgrounds and identities. It also grounds us in the moral imperative to address issues of health disparities, equity, and social justice in all aspects of our work. We will revise our admissions policies to comply with the Supreme Court directive, though our commitment to the importance of diversity and equity in medicine will never waver. HMS will continue to investigate the social determinants of health through on-the-ground efforts, including those spearheaded by our Office for Community Centered Medical Education, housed within our Program in Medical Education and our Center for Primary Care. From the moment they set foot on campus, during the first-week Introduction to the Profession course, to the moment they graduate, our medical students experience HMS as a scientific distillery of theories and practices around equitable health care delivery. In the realm of graduate education, our master’s programs are thriving. We currently offer nine

master’s degrees — the newest being the master of science in media, medicine, and health — with three additional programs expected to be proposed in the coming year. In fall 2023, we welcomed our largest incoming class with more than 550 master’s students. Dean’s scholarships were awarded to 35 master’s students, an increase of 10 over the previous year, and included international students for the first time.

Celebrating the People of HMS

David Velasquez combines his passion for medicine, business, and public policy as a Harvard MD-MBA-MPP student striving to improve health care for all.

Our PhD programs remain a priority. Capitalizing on the strengths of our Department of Biomedical Informatics, HMS announced a new artificial intelligence in medicine PhD track within the biomedical informatics PhD program. The program, which begins in fall 2024, will train computationally minded students how to solve problems in the context of biomedicine and clinical care. A new MD-PhD summer program — the Harvard/MIT Equitable Access to Research Training program, or HEART — led by MD-PhD students Eana Meng and Simran Handa aims to create opportunities for undergraduate students to access physician-scientist career paths. Our Office for External Education continues to grow with a wide range of learning opportunities for audiences around the globe, including health care professionals, corporate learners, and patients and their families. Under the visionary leadership of Dean David Roberts, the office is designing and delivering postgraduate professional education programs in countries around the world, including Hungary and Poland, and expanding HMS’ reach in Latin America. The team’s leading digital transformation in health care program was translated into Spanish and Portuguese and delivered to more than 600 executive education learners. Tailored programs and customized health information for companies like Boehringer Ingelheim, Microsoft, and Anthem have increased substantially over the past year. All of these aspects of our educational mission point to HMS as an inclusive community for tomorrow’s leaders in science and health care. The whole of our educational programs and offerings are enacting the future we want to see. Our students receive best-in-class training with the highest quality buttresses in place to support their growth, including financial aid packages and mental health resources. n

Discovery and Scholarship

Members of the Harvard Medical School research community have been

The apex of the snailshaped cochlea, our hearing organ, with its dense vascular network (green) is shown here. The hair cells (magenta), which detect sound, are innervated by the primary auditory neurons, whose cell bodies and axons are also in magenta.

expanding the boundaries of scientific knowledge for more than 240 years. Among the many discoveries made this year, researchers identified that inflammatory proteins found in the innate immune system may be at the root of a range of neurodegenerative conditions, including amyotrophic lateral sclerosis (ALS). Cancer immunotherapy success may hinge on the presence of cancer-combatting neutrophils. Face blindness may be more prevalent than previously thought. And agerelated accumulation of abdominal fat is associated with lower muscle density, which can lead to less effective muscle function and, in turn, a greater risk of falls.

Support for research and faculty development is of paramount importance. In addition to dedicating School resources to subsidize our research enterprise, HMS has increased investments in its research core facilities, which serve multiple laboratories and raise the productivity of every scientist across our community. Over the past six years, HMS has invested over $65 million into its cores. Annual support has risen from approximately $3 million to more than $12 million, representing roughly a fourfold annual increase. The Foundry Award Program provides funding and resources for core facilities and technology development. Projects supported in 2023 included nanobody services available through the Center for Macromolecular Interactions core, a technology project to develop methods for ultra-high-throughput RNA sequencing, and new instruments in the three HMS light microscopy core facilities and the BioPolymers Facility Next Gen Sequencing core. HMS has also prioritized internally managed research funding programs that raise philanthropic dollars centrally but distribute resources across our community. These include the Bertarelli Rare Cancers Fund, Ludwig Center at Harvard, and Dean’s Innovation Awards, among others. The existence of these support systems has promoted research collaborations on the Quad and alliances between

A gene-editing therapy for sickle cell anemia and other inherited blood diseases is nearing FDA approval based on work by pediatric hematologist oncologist Stuart Orkin.

scientists at HMS and our affiliated hospitals and research institutes. These central funds leverage the interests of many philanthropists who want to invest across the vast HMS community as opposed to a single program or affiliate. Another area of faculty support is our new translational infrastructure. The HMS Therapeutics Initiative, which aims to accelerate the pace at which our fundamental, curiositydriven science affects individual health and well-being, has seen a dramatic return on our initial investments.

The School has an opportunity — and an imperative — to use its extraordinary resources to capture the wide-lens view of humanity’s needs.

Q-FASTR, the Quadrangle Fund for Advancing and Seeding Translational Research, has touched every basic science department at HMS, with 48 percent of Quad-based faculty having applied for funding. Roughly $11.5 million has been invested in these projects, which have yielded over $160 million in follow-on funding. Of the 2023 Q-FASTR development grants, 80 percent support collaborative projects, with co-principal investigators from Brigham and Women’s Hospital, Massachusetts General Hospital, Mississippi State University, and Harvard University. The Blavatnik Therapeutics Challenge Awards, available to both Quad-based researchers and affiliate faculty, accelerate the development of therapeutics across HMS, ushering translational projects toward clinical and commercial impact. Five outstanding new projects have been selected this year, driving momentum toward a suite of HMS-originated treatments with life-enhancing, even lifesaving, potential. Seven companies — four of them founded by Quad faculty — are now

up and running in the Blavatnik Harvard Life Lab Longwood, an incubator laboratory space that celebrated its grand opening in October 2022 and has reached 57 percent occupancy one year later. The Blavatnik Life Lab model is so promising that HMS recently hosted a delegation from Taiwan that is interested in emulating it there. Executive Director of Therapeutics Translation Mark Namchuk and his team have completed the first round of staffing for our new Drug Discovery Sciences Core, which will work in concert with HMS senior therapeutics scientists to identify and move basic science insights toward therapeutics impact. In the last three years, the drug discovery core and our senior therapeutic scientists have together supported nearly one-third of projects funded by the Therapeutics Initiative either through Q-FASTR, the Blavatnik Therapeutics Challenge Awards, or the Therapeutics Translator at HMS. Indeed, this past year has been all about integrating therapeutics discovery into our community’s work. Our objective is to equip exceptional laboratory investigators with the tools and resources needed to conduct basic science and translational science in parallel, thereby increasing the potential for fundamental discoveries to be extended into the clinic. One standout success story of our Therapeutics Initiative is our $30 million collaboration with AbbVie, which represents a consortium of 18 investigators from seven different institutions across five focus areas. This multipronged joint effort between HMS and AbbVie scientists aims to advance our fundamental knowledge of infectious disease, while simultaneously developing novel antiviral therapies. Organized urgently in response to the COVID-19 pandemic, the AbbVie collaboration has matured into a model for leveraging academic and industrial expertise to bring

new insights to bear on disease while developing new treatments. The collaboration has been highly productive and has advanced a compound into clinical development; additional projects are approaching a request for authorization from the U.S. Food and Drug Administration to administer an investigational drug or biological product to humans. HMS has begun injecting computational proficiencies throughout our campus as an important prerequisite to the widespread adoption of AI. To support data science and computational needs, the Center for Computational Biomedicine has collaborated on 27 projects involving more than 30 faculty members across seven Quad-based basic science departments. Additionally, the center has helped to develop and make available tools and technologies that streamline and facilitate the analysis of biomedical research. For example, a collaboration with HMS Research Computing is providing access to AlphaFold and ColabFold, which are new tools for

Celebrating the People of HMS

Caroline Palavicino-Maggio is advancing her landmark research on the neural underpinnings of female aggression as an HMS assistant professor of psychiatry at McLean Hospital.

MORE RESEARCH NEWS hms.harvard.edu/news/discovery

predicting protein structures. The center also serves as a centralized resource for computational, bioinformatics, and statistical education for graduate students, postdocs, faculty, and research staff across the School. In September 2022, Harvard celebrated the new Kempner Institute for the Study of Natural and Artificial Intelligence with a scientific symposium. Themes encompassed the institute’s goals and vision as a place that will foster new ideas and novel collaborations from newly forged interdisciplinary studies and a diverse, emerging group of scholars. This spring, the institute announced its inaugural class of associate faculty. Included in this group was HMS Assistant Professor of Biomedical Informatics Marinka Zitnik, who seeks to better understand the basis of intelligence in natural and artificial systems by developing machine learning methods that incorporate geometry, graph structure, and symmetry, and are grounded in domain knowledge. Additionally, computational neuroscientist Kanaka Rajan, a leader in using AI and machine learning to study the brain, joined Harvard as a founding Kempner Institute faculty member and an HMS faculty member in neurobiology. The School has an opportunity — and an imperative — to use its extraordinary resources to capture the wide-lens view of humanity’s needs, and to meet those needs by defining how AI will be integrated into medical education, research, and clinical practice most productively and ethically. With Department of Biomedical Informatics Chair Zak Kohane being appointed editor-in-chief of the new journal NEJM AI, HMS is poised to become a prominent leader in the AI space. n

Service and Leadership

The Gordon Hall of Medicine is mirrored in a puddle on the Quad on a rainy day in August.

To foster collaboration, nurture physicians and scientists in training, and

help cement HMS’s preeminence as a global leader in discovery, education, and compassionate care, we are embarking on capital projects that creatively and efficiently use the space we have available. We’ve expanded our dry and wet lab footprint, identified next steps for campus-wide sustainability and green energy initiatives, and completed our master plan for renovating the Francis A. Countway Library of Medicine as a center for academic life, community building, and interactive learning. Construction has begun on transforming the Gordon Hall of Medicine, our signature campus building, into a flexible co-working space. This design will create a positive work community for our administrative units while saving millions in annual lease costs — money that will be funneled into advancing our research, education, and service mission.

These projects are driving increased momentum toward the HMS campus of the future. By 2040 or 2050, we estimate needing another 500,000 gross square feet of space to accommodate what we envision for the Longwood campus: a vibrant epicenter for life sciences and health sciences at Harvard. Our Office for Faculty Affairs is supporting faculty development in part by streamlining and demystifying the promotions process. As a result, the number of successful promotions managed by the office is rising every year, and with the number of promotions among women and faculty from populations traditionally underrepresented in medicine (URiM) also rising. In academic year 2023, 50 faculty were promoted to full professor (40 percent women, 12 percent URiM); 210 were promoted to associate professor (46 percent women, 6 percent URiM); and 406 were promoted to assistant professor (54 percent women, 11 percent URiM). Women now make up 46 percent of all HMS faculty, and individuals from populations URiM constitute 8 percent of the faculty. HMS aspires to have its leadership reflect the breadth of our communities. The trends are positive, with the number of Quad and affiliate department chairs doubling since FY22 for those from traditionally URiM backgrounds and an increase of 11 percent for women. Harvard Catalyst received a seven-year grant from the National Center for Advancing Translational Sciences, a National Institutes of Health funding agency, to support clinical and translational researchers across Harvard and academic health care centers. Each of Harvard Catalyst’s programmatic initiatives — education, informatics, mentoring, funding support for investigators, community-engaged research and dissemination, and ensuring diversity, equity, and inclusion

across the spectrum of clinical research, including study participant populations — have at their core a mission to support investigators and affiliated institutions in the conduct of translational science and to identify and overcome any translational blocks that may impede their career paths as clinical researchers. SMART IRB, a Harvard Catalyst initiative to efficiently facilitate multisite studies across the U.S., secured three-year funding. The initiative includes over 1,100 participating institutions working to streamline IRB review and accelerate the research process, thus making a greater impact on human health. Our clinical care providers are working to transform the U.S. and global health care systems so that well-being and vitality are ascendant for all people, and so that no disease is ever a death sentence. HMS embraces its responsibility to nurture and support clinical care providers, while channeling their expertise toward inspiring the next generation of change-making care providers. To follow through on that charge, we are magnifying the work of our Center for Primary Care to reinstate the primacy of primary care as an appealing field for future health care professionals, positioning HMS at the apex of health care leadership and practice transformation, and working to weave health equity into everything we do — from basic science to global health delivery, from the micro to the macro. The relationship between basic science and health equity is an important one. A revolutionary discovery by Stuart Orkin, the David G. Nathan Distinguished Professor of Pediatrics, enabled the design of a potentially curative CRISPR-based treatment for sickle cell disease, a genetic condition marked by misshapen and malfunctioning red blood cells. As of November 2023, this approach is now on the brink of FDA approval and could help transform the lives of the 20 million

Celebrating the People of HMS

Dee Jordan, who transitioned from a postdoctoral fellow to faculty member in global health and social medicine this year, is on a quest to increase the diversity of students in graduate geography programs nationwide.

people worldwide affected by this devastating disease. While COVID-19 vaccines were a major victory of modern bioscience, the lack of equitable global vaccine distribution was a major failure of public health. We must ensure that sickle cell therapies are accessible, affordable, and distributed equitably in regions like sub-Saharan Africa, where millions live with the disease. On the macro end of the spectrum, where research and theory translate into global action, an external review recently lauded our Department of Global Health and Social Medicine, calling it a “jewel” of the academic community. The department’s new strategic plan centers on the core values and aspirations integral to the department under the visionary leadership of the late Paul Farmer, whose life and scholarship will be permanently embedded in everything we do. Earlier this year, Cummings Foundation gave $50 million to establish

the Paul Farmer Collaborative of HMS and the University of Global Health Equity in Rwanda. The gift supports both institutions equally and formalizes their alliance in continuing Farmer’s transformative work. Vikram Patel was named chair of the department on Sept. 1 and became the first incumbent of the Paul Farmer Professorship and Chair of Global Health and Social Medicine. Patel amassed a distinguished portfolio of scholarship in global mental health, has tremendous intellectual energy, and is well-known for creating consensus and building effective teams. He is a fitting successor and shares Farmer’s belief that academic engagement is key to delivering quality and equitable health care to all. Now in its fourth year, the HMSled Massachusetts Consortium on Pathogen Readiness (MassCPR) has grown into a multi-institutional, multinational research collaboration involving hundreds of investigators at 17 participating institutions in Massachusetts and 667 collaborating institutions in 58 countries. MassCPR researchers continue to generate important new insights that have opened up new avenues for research and discovery beyond SARS-CoV-2. This year, MassCPR announced four working groups with broadened mandates: post-infectious clinical syndromes; diagnostics, surveillance, and epidemiology; biospecimens and data network, which two private funders have committed $12.5 million to support; and variants and vaccines. Under a new grant from the Centers for Disease Control and Prevention, administered through the Massachusetts Department of Public Health, MassCPR will receive $7 million over five years to lead pathogen genomics education and training for the nation’s public health workforce, develop novel diagnostic devices, and create uniform documentation for research activities. n

Vikram Patel, chair of the Department of Global Health and Social Medicine, shares Paul Farmer’s belief that academic engagement is key to delivering quality and equitable health care to all.

HMS by the Numbers

Fundraising Update

Students Total students: MD 712 | PhD 908 | MD-PhD 210: basic sciences 176, social sciences 34 (total included in MD and PhD counts) | DMD 141 | Master’s 559 (512 HMS, 47 HSDM) | DMSc 30 Entering students 2023: MD applicants 6,986 | Admitted 222 (3.2%) | MD entering 164 (includes 15 MD-PhD) | PhD 165 | DMD 38 | Master’s 302 (288 HMS, 14 HSDM) | DMSc 5 | Combined degree programs: MD-MAD, MD-MMSc, MD-MBA, MD-MPH, MD-MPP Residents and Trainees Clinical fellows 4,242 | research fellows 4,959 Faculty Total faculty 12,213 | Tenured and tenure-track faculty on HMS campus in 11 preclinical departments 192 | Voting faculty on campus and at affiliates 6,730 | Full-time faculty on campus and at affiliates 10,438 Awards and Honors Nobel Prizes: physiology or medicine (cumulative) 10; Peace (recipients) 16 | National Academy of Sciences members (current) 91 | National Academy of Medicine members (current) 178 | Howard Hughes Medical Institute (current) 38 (35 Investigators, 2 Scholars, 1 Professor) Alumni Living medical school alumni 11,361 (MD and master’s) AS OF SEPTEMBER 2023

Affiliates Baker Center for Children and Families Beth Israel Deaconess Medical Center Boston Children’s Hospital Brigham and Women’s Hospital Cambridge Health Alliance Dana-Farber Cancer Institute

Harvard Pilgrim Health Care Institute Hebrew SeniorLife Joslin Diabetes Center Massachusetts Eye and Ear Massachusetts General Hospital McLean Hospital Mount Auburn Hospital Spaulding Rehabilitation Hospital VA Boston Healthcare System

To pursue a mission as ambitious as improving the health and well-being of all people, Harvard Medical School needs legions of like-minded collaborators. Thankfully, we count numerous loyal philanthropic supporters among our allies, and their contributions are helping HMS serve humanity by advancing science, medicine, and education. In fiscal year 2023, these generous donors — 3,971 alumni, friends, volunteers, faculty, staff, foundations, and corporations — gave more than $328 million to the School, driving the work of our faculty, staff, postdocs, and students. Ernesto Bertarelli, MBA ’93, is propelling basic scientific discovery, therapeutic science, and a culture of entrepreneurship at HMS by bolstering the creation of an expansive space on the west Quad for convening and collaboration. Cummings Foundation is building on the efforts of the late Paul Farmer, MD ’88, PhD ’90, by supporting a new collaboration between HMS and the University of Global Health Equity that promotes the development of sustainable, equitable health systems which improve health care delivery to disadvantaged and disenfranchised populations around the world. An anonymous donor established the Paul Farmer Professorship and Chair of Global Health and Social Medicine, forever endowing the post and providing vital discretionary funds for future department heads to use toward achieving global health equity. Laurence E. Paul, AB ’86, MD ’90, and his wife, Kathleen, are extending their commitment to ensuring scholarships for all deserving students entering the field of medicine, without regard for their ability to pay. An unrestricted bequest from Robert Kleiger, MD ’60, gives Dean George Q. Daley, AB ’82, MD ’91, PhD, the flexibility to direct resources where they are needed most. Striving to upgrade the health care sector in his homeland of Tunisia, Hazem Ben-Gacem, AB ’92, has created a fellowship fund to support the country’s residents who are accepted into postgraduate master’s degree programs at HMS. Thanks to the generosity of Chiang Li, MD ’98, faculty of the Harvard-MIT Program in Health Sciences and Technology are designing and implementing a novel curriculum to prepare physician innovators for the future. With the unwavering support of our dedicated benefactors, we are confident that HMS will persist in its pivotal role of safeguarding and enhancing human health.

Financial Report Harvard Medical School achieved breakeven on unrestricted cash flows again in FY23 by focusing on managing its unrestricted resources, despite facing financial headwinds that led to an operating loss of $28 million. As reported according to generally accepted accounting principles (GAAP), FY23 revenues declined by $27 million, or 3 percent, to $829 million; the decline was driven primarily by the final pledge payment of a four-year gift that was received in FY22 and was not anticipated to repeat in FY23. Adjusting for this $40 million gift receipt in FY22, revenue was up $13 million, or 1.5 percent, year-over-year, primarily due to growth in sponsored research, an increase in the endowment

distribution, and net tuition. This growth was partially offset by declines in royalty and external education revenue. Overall, FY23 expenses increased by $41 million, or 5 percent, to $857 million. The majority of this increase was anticipated due to planned strategic investments in people as well as expenditures returning closer to pre-pandemic levels in categories such as travel and in-person teaching. In addition, expenses related to restricted gifts, where the revenue was received in prior years, drove an anticipated mismatch of revenue and expenses that resulted in deficit spending on a GAAP basis.

Despite the GAAP operating loss, HMS was able to maintain its current level of unrestricted reserves while continuing robust investments in our mission, our priorities, and our people. In FY23, we made several exciting new faculty hires that demonstrate our commitment to cutting-edge ideas and research, including a joint hire with the Kempner Institute for the Study of Natural and Artificial Intelligence at Harvard University. The School invested in curriculum redesign for the Harvard-MIT Program in Health Sciences and Technology track of the MD program, increased the growth and reach of master’s degree programs, and

made additional renovations to the Francis A. Countway Library of Medicine, which will expand collaboration and study spaces for students. Research spending was back to pre-pandemic levels, with exciting new federal awards in the pipeline. Finally, we had a record-breaking fundraising year, which helps enhance investments in our programs and people. While we are facing continued revenue and inflation pressures, HMS has much to be proud of and many reasons to be optimistic. —Dean George Q. Daley

HMS GIVING hms.harvard.edu/giving

FY23 OPERATING REVENUE 6%

n Research grants and contracts

8% 38%

n Endowment distribution

for operations

n Other revenues*

16%

n Gifts for current use n Rental income

27%

n Net student income

Total

$317,342,287 $224,075,470

38% 27%

$128,207,853 $67,806,879 $48,568,609 $43,114,032 $829,115,130

16% 8% 6% 5%

* Includes continuing medical education, publications, service income, and royalties

FY23 OPERATING EXPENSES

5% 10%

n Personnel costs

41%

14%

n Supplies and other expenses n Research subcontracts

and affiliates

30%

n Plant operations and interest n Depreciation

Total

$353,673,394 $255,613,482 $116,636,571

41% 30% 14%

$84,940,035 $46,316,794 $857,180,276

10% 5%

25 Shattuck Street Boston, Massachusetts 02115 www.hms.harvard.edu

Celebrating the People of HMS

Bobbie Collins shares stories about HMS’ students and educational programs with the world as a writer and project manager in the Office of Communications and External Relations.

Produced by the HMS Office of Communications and External Relations

25 Shattuck Street, Boston, MA 02115. communications@hms.harvard.edu. Credits: Writing and editing by Allison Eck and Laura DeCoste; design and art direction

by Paul DiMattia; copyediting by Bobbie Collins and Susan Karcz. Photography and images by Sephi Bergerson, Katelyn Comeau, Gretchen Ertl, Michael Goderre/Boston Children’s Hospital, Steve Lipofsky, Celia Muto, and Mattias Paludi. Printed by Hannaford and Dumas.