Endowments and Offshore Tax Havens

In recent years, Congress has made no secret that it has concerns about the billion-dollar endowments of certain tax-exempt colleges and universities. A particularly troubling aspect, in the view of lawmakers and many in the general public, is the rapid jump in tuition costs at American schools at a time when the wealthiest institutions appear to have comfortable cushions of cash. Lawmakers asked pointed questions Read More

Renewed Efforts to Rein In College Endowments

Over the past year or so, there’s been significant attention and discussion about the multi-billion-dollar endowments enjoyed by some of the nation’s most prominent colleges and universities. There have been “growing concerns in recent years about the massive nest eggs of the nation’s most prestigious institutions of higher learning.”   These criticisms arise against a background of record-breaking fundraising. In Read More

Foundations of Public Universities: Too Secretive?

They have been called “‘slush funds’ and ‘shadow corporations’ that too often operate in secrecy, ….”   “Public officials are raising questions about the spending practices of the nonprofit fundraising arms of public universities,” according to the Council of Nonprofits. They control huge amounts of money with little accountability. Recently, in at least two states - North Carolina and Connecticut - this issue has Read More