Word: endowmentsã
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...Harvard’s coffers seem to be overflowing this year, as the endowment approaches $35 billion, a new bill proposed by Rep. Sander Levin, D-Mich., may allow the cache to accumulate even faster. The bill would allow tax-exempt organizations—a category that includes university endowments??to invest directly in U.S. hedge funds while retaining their freedom from Internal Revenue Service dues on leveraged investments. “[Universities] are currently taxed as though they are leveraging, when it’s actually the hedge fund’s strategy,” said...
...Endowments?? total returns for fiscal year 2004 averaged 14.7 percent overall, while the top tenth among them saw an average return of 21.5 percent, which exceeds Harvard’s returns this year, the survey found...
...Endowments?? total returns for fiscal year 2004 averaged 14.7 percent overall, while the top tenth among them saw an average return of 21.5 percent, which exceeds Harvard’s returns this year, the survey found...
...course, there are obstacles, such as the members of the clubs, who pay dues each month. And the graduate boards, who control the multi-million dollar endowments??a set of middle-aged men creeping into their 60s, says one final club member, who have invested a lifetime into the perpetuation of their alma mater social organizations. In interviews with members spanning multiple clubs and generations, neither current nor past members supported anything as extreme as SASSI’s ultimate goal...
Casey added that students at schools that lack sizable endowments??and the ability to dip into coffers and make up for lost federal funds—could be harmed if the proposal is enacted...