(From the Washington Post):
By Jeffrey J. Selingo
More than 800 colleges and universities across North America holdendowment assets of $516 billion. But the top 10 schools in terms of assets have about $180 billion of that total, more than one-third of all the holdings. Harvard University alone has a $35 billion endowment.
None of that money, nor the gains on it — which at the top schools were about 16 percent last year — are taxed. As non-profit entities, neither are the extensive land holdings of the nation’s colleges and universities.
Such benefits account for $41,000 in hidden taxpayer subsidies per student annually, on average, at the top 10 wealthiest private universities. CONTINUE READING HERE