Harvard owns 7,500 acres of vineyards in Cuyama Valley, California. Water scarcity threatens the future of agriculture in the region.
The Republican tax overhaul passed in December may impact the pensions of Harvard employees hired before 2001 and the University is currently “reviewing” the situation.
This could be bad news for organizations that depend heavily on donations—including institutions of higher education like Harvard.
Hidden in the Tax Cuts and Jobs Act passed last year is a change in the way taxes are calculated for nonprofits that could lead to increased expenses for Harvard.
Instead of using hedge funds to manage its money, the University should shift half of its $37.1 billion endowment into lower-cost funds tracking the S&P 500, the letter’s signatories argued.
Harvard Medical School’s capital campaign reached its $750 million goal earlier this month, administrators announced Wednesday.
Fiscal Year 2017 marks the fourth consecutive year that the University has raised over $1 billion, according to data from the Council for Aid to Education.
Experts say the effect of the federal tax on Harvard’s endowment remains unclear as the government continues to work out features of the new law.
Harvard’s endowment returns fell three points below the national average for college and university endowments in fiscal year 2017.