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.
A provision that could have drastically increased graduate students' federal tax burdens did not make it into the final version of Congress’s tax plan for next year.
Harvard Management Company will outsource its real estate management team to Boston-based private equity firm Bain Capital.
UC representatives urged fellow students to call and advocate against a provision in the Congressional tax bill that would cost the University millions.