Word: exempted
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Several Harvard faculty members said yesterday that a proposal to weaken the tax-exempt status of donations to Harvard and other cultural institutions would not have the intended effect of encouraging contributions to charities for the underprivileged...
...editorial followed debate in the Senate last week of a law that would allow the government to regulate University endowments. Among the options discussed were repealing the tax-exempt status of university endowments and mandating minimum yearly payouts to help lower tuition costs...
...rise, the U.S. Senate is considering ways to regulate university endowments. The move brought a rebuke from Harvard, which insisted that Congress should not dictate how university funds are spent. At a Finance Committee hearing on Wednesday, senators considered measures including the repeal of university endowments’ tax-exempt status and mandating minimum yearly payouts to help lower tuition costs. The discussion at last week’s hearing focused on the spectacular growth of university endowments, which collectively increased by 17.7 percent to dollars in fiscal year 2006, according to testimony at the hearing. Average tuition for four...
Although 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...
...holds a torch for her husband 30 years after he left to buy a pack of cigarettes and never returned. Says Christopher Hitchens, author of The Missionary Position, a scathing polemic on Teresa, and more recently of the atheist manifesto God Is Not Great: "She was no more exempt from the realization that religion is a human fabrication than any other person, and that her attempted cure was more and more professions of faith could only have deepened the pit that she had dug for herself." Meanwhile, some familiar with the smiling mother's extraordinary drive may diagnose her condition...