Word: exempt
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...longest-term bonds issued this week were priced to yield 4.02 percent over 24 years, or 0.3 percent lower than the benchmark for securities of similar quality. The below-market yield means that Harvard will pay investors less interest than average on its tax-exempt debt, but the exact savings to the University were not available this week...
Milano added that investors and companies facing high marginal tax rates found these bonds particularly appealing because they were tax-exempt...
...University has clashed with federal regulators in the past—especially Senator Charles E. Grassley, who has investigated Harvard’s ties to pharmaceutical companies and applauded the IRS’s decision in 2008 to examine U.S. colleges' and universities’ use of their tax-exempt status...
...coming audit will focus on the University’s unrelated business income (revenue streams that are not tax-exempt) and compensation practices—an issue which has drawn scrutiny from some alumni in the past...
Senator Charles E. Grassley, an Iowa Republican, has voiced loud criticism against tax-exempt organizations, including both universities and hospitals. In the past, Grassley has argued that universities receiving government funding should keep their operating costs low and dedicate more funds toward financial aid in lean economic times...