Word: taxed
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Eventually, Rose said that the culture of silence and the “creativity” that managers encouraged among employees to circumvent tax payments became so disruptive that he could no longer properly conduct his work. The culture of HMC, Rose said, was such that managers consciously avoided providing him with necessary reporting information. He recalls one incident in particular in which a lawyer told him he was “rocking the boat” after he raised a legitimate tax issue...
...They were really tax-adverse, and they did anything possible to reduce taxes,” Rose said, pointing to the individual greed of HMC’s executives. “I had to deal with the money managers’ mindset [that] if Harvard somehow has to pay a tax, that would reduce their take-home pay as well...
...seven years later, changes in non-profit tax reporting have finally been made—and many of the revisions reflect Rose’s concerns...
...tax year ending 2009, the IRS is phasing in the use of a new Form 990, which is filed by non-profit organizations. As the first major revision in 30 years, the report will include more detailed questioning of company governance and policies, compensation, foreign activities, and organizational structuring. And since previous filings asked organizations to report some information in unstructured attachments—which often led to incomplete or missing information—the new revision increases the number of additional reporting forms from...
...recent years, Harvard has included increasing amounts of disclosures on its tax forms. And in 2006, then-HMC chief Mohamed A. El-Erian hired a “chief compliance officer,” echoing a suggestion Rose made in a letter to Kurtz four years earlier. El-Erian, who succeeded Meyer and pledged to “rebuild and reinvent” the company, said at the time that the move was not prompted by regulatory requirements, but merely a desire to stay “at the forefront of the industry...