Comparing Higher-Ed and Foundation Endowments with at Least $10 Billion in Assets Under Management
When U.S. Sen. J. D. Vance proposed a bill last December that would increase the excise tax from the current 1.4% to 35% on the net investment income from the endowments of secular, private, nonprofit colleges and universities with at least $10 billion in assets under management, his office said it would apply to the endowments of 11 schools. They are Harvard, Yale, Stanford, Princeton, the Massachusetts Institute of Technology, the University of Pennsylvania, Northwestern, Columbia, Washington University in St. Louis, Duke, and Vanderbilt.
These top higher-education endowments, it said, hold a combined $270 billion in assets.
Six private philanthropic foundations, which are also nonprofit, held at least $10 billion in assets as of the end of 2022, according to FoundationMark projections. They are the Bill & Melinda Gates Foundation, the Lilly Endowment, and the Ford, Robert Wood Johnson, William & Flora Hewlett, and Bloomberg Family Foundations.
At the top of the “FoundationMark 15,” these six endowments collectively hold a total of more than $163 billion. The current excise tax on the net investment income of private-foundation endowments is 1.39%.
Overall, as reported by Inside Philanthropy’s Michael Kavate yesterday, “Foundation assets could soon reach double the value of the combined endowments of the top 700 richest U.S. universities, whose assets totaled $807 billion as of June 2022,” citing the most-recently available data from the National Association of College and University Business Officers and TIAA.
Foundation assets were at an all-time high of $1.5 trillion last December, FoundationMark finds. “Even as the sector grows more top-heavy, its overall assets are swelling partly due to the sheer number of institutions, with more than 125,000 private foundations, compared to fewer than 5,000 colleges,” Kavate notes.
This article first appeared in The Giving Review on January 30, 2024
Source: https://capitalresearch.org/article/comparing-higher-ed-and-foundation-endowments-with-at-least-10-billion-in-assets-under-management/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).