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techno900



Joined: 28 Mar 2001
Posts: 3756

PostPosted: Thu Jul 02, 2020 3:31 pm    Post subject: Reply with quote

mac said:
Quote:
Every time you post something, I’m glad you didn’t teach in California. You’re lazy and closed minded. It took one click to find this. I’ll make it simple for you. 1). Some of the endowment funds are restricted by their contributors; 2). The endowment pays about 20% of the budget for the University—thereby reducing the costs that must be paid by fees such as tuition.

Mac, you really need to get a life. Fine, only 20% of your endowment goes to the university budget, but even through the recession, most of the top 100 university endowments continued to grow. So even if 20% is going to the budget, the endowments are still growing. Yes, endowments are restricted, but they contribute to the school's annual budget through the established restrictions, like endowed professorships, capital expenses, scholarships, etc.

Bottom line - between tuition, endowments and annual giving, all budget expenses are covered and endowments still continue to increase.

Harvard:
Quote:
•The endowment’s value was $40.9 billion as of this past June 30, the end of fiscal year 2019—an increase of $1.7 billion (4.3 percent) from $39.2 billion a year earlier.

So, even after their drawdown for budget expenses, they still had a 4.3% increase. So why does the tuition continue to rise? There is no justification.

And I am not for free college. Students should invested in their college education financially, or the motivation to push ahead successfully will be lacking for many.
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vientomas



Joined: 25 Apr 2000
Posts: 1628

PostPosted: Thu Jul 02, 2020 6:48 pm    Post subject: Reply with quote

techno900 wrote:
mac said:
Quote:
Every time you post something, I’m glad you didn’t teach in California. You’re lazy and closed minded. It took one click to find this. I’ll make it simple for you. 1). Some of the endowment funds are restricted by their contributors; 2). The endowment pays about 20% of the budget for the University—thereby reducing the costs that must be paid by fees such as tuition.

Mac, you really need to get a life. Fine, only 20% of your endowment goes to the university budget, but even through the recession, most of the top 100 university endowments continued to grow. So even if 20% is going to the budget, the endowments are still growing. Yes, endowments are restricted, but they contribute to the school's annual budget through the established restrictions, like endowed professorships, capital expenses, scholarships, etc.

Bottom line - between tuition, endowments and annual giving, all budget expenses are covered and endowments still continue to increase.

Harvard:
Quote:
•The endowment’s value was $40.9 billion as of this past June 30, the end of fiscal year 2019—an increase of $1.7 billion (4.3 percent) from $39.2 billion a year earlier.

So, even after their drawdown for budget expenses, they still had a 4.3% increase. So why does the tuition continue to rise? There is no justification.

And I am not for free college. Students should invested in their college education financially, or the motivation to push ahead successfully will be lacking for many.


Harvard is a private business. You object to Harvard maximizing profits? What are you, a socialist? What other businesses do you want to limit profits on? Shell, Apple, Amazon? It's a free market. I elected to go to a public universtity. One significant reason was the lower cost of a public university vs a private university.
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swchandler



Joined: 08 Nov 1993
Posts: 9701

PostPosted: Thu Jul 02, 2020 7:18 pm    Post subject: Reply with quote

I'm of the mind that community colleges should be something that anyone can afford.

Yet, if we were to invest in making 2 years at community college virtually free into the future, I think that that would offer a tremendous boost those looking to improve their life.

As a bit of a change, I think that technical manufacturing and trade education should be an added path for many in the community college system, especially if folks really believe in American manufacturing. Having worked in the defense and civil space industry for my whole career, I know that American businesses must be on the cutting edge to support and advance us into the future.

In the long run, we need a synergy between those in education and those in business, on all levels, even financially. It only makes sense.
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mac



Joined: 07 Mar 1999
Posts: 14966
Location: Berkeley, California

PostPosted: Thu Jul 02, 2020 9:59 pm    Post subject: Reply with quote

techno900 wrote:
mac said:
Quote:
Every time you post something, I’m glad you didn’t teach in California. You’re lazy and closed minded. It took one click to find this. I’ll make it simple for you. 1). Some of the endowment funds are restricted by their contributors; 2). The endowment pays about 20% of the budget for the University—thereby reducing the costs that must be paid by fees such as tuition.

Mac, you really need to get a life. Fine, only 20% of your endowment goes to the university budget, but even through the recession, most of the top 100 university endowments continued to grow. So even if 20% is going to the budget, the endowments are still growing. Yes, endowments are restricted, but they contribute to the school's annual budget through the established restrictions, like endowed professorships, capital expenses, scholarships, etc.

Bottom line - between tuition, endowments and annual giving, all budget expenses are covered and endowments still continue to increase.

Harvard:
Quote:
•The endowment’s value was $40.9 billion as of this past June 30, the end of fiscal year 2019—an increase of $1.7 billion (4.3 percent) from $39.2 billion a year earlier.

So, even after their drawdown for budget expenses, they still had a 4.3% increase. So why does the tuition continue to rise? There is no justification.

And I am not for free college. Students should invested in their college education financially, or the motivation to push ahead successfully will be lacking for many.


Techno—you need to get better work habits and some critical thinking capacity. After arguing that endowments should be used to reduce tuition, without checking, I show you how the Stanford endowment in fact pays 20% of the budget. So rather than say oh, I didn’t realize that—you double down.

I agree that students (and many others, like patients) should have some skin in the game. But investing in students is a sound investment—they pay back their costs. Endowments do many things, and each one is different. Techno didn’t check the actual nature of any endowment before making a snarky post.

I’ve put money in the University of Washington’s endowment—to pay for scholarships in my parents name. It would be illegal for the University to use that money to reduce tuition—it is intended to help needy people afford college. Others donate to specific areas, whether art or engineering, it doesn’t matter. I certainly hope that the financial people at the university manage that endowment so that it grows and can help educate more people. I’m putting my money where my values are—higher education—and trying to ameliorate some of the damage done by uninformed “conservatives.”
Techno—if you make an uninformed and stupid claim on a forum—you’re going to get bitch slapped. Get over it, or do some homework. Getting a life might mean more than shoot before you think or aim.
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jpbassman



Joined: 19 May 1998
Posts: 3365
Location: Leo

PostPosted: Fri Jul 03, 2020 1:09 pm    Post subject: Reply with quote

Jim, you're losing the narrative old buddy. Everybody here knows you get your shit from liberal supported websites like mother jones, politico, and snopes.
The only people here that believe you are the other libtards.
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mac



Joined: 07 Mar 1999
Posts: 14966
Location: Berkeley, California

PostPosted: Fri Jul 03, 2020 1:25 pm    Post subject: Reply with quote

jpbassman wrote:
Jim, you're losing the narrative old buddy. Everybody here knows you get your shit from liberal supported websites like mother jones, politico, and snopes.
The only people here that believe you are the other libtards.


Assman—you know nothing. The only one of those sites I have been to in the last year is politico. I use journalists who check facts. So I don’t post nonsense about Obama grants to Wuhan from paranoid tin hat sites.
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techno900



Joined: 28 Mar 2001
Posts: 3756

PostPosted: Fri Jul 03, 2020 2:32 pm    Post subject: Reply with quote

vientomas said:
Quote:
Harvard is a private business. You object to Harvard maximizing profits? What are you, a socialist? What other businesses do you want to limit profits on? Shell, Apple, Amazon? It's a free market. I elected to go to a public universtity. One significant reason was the lower cost of a public university vs a private university.


Read below and learn something about Harvard. Ditto for all Private Universities.

Quote:
Harvard’s Role As a Nonprofit
By Laura M. Binger, John F. Bowman, and Benjamin J. Oldfield, Nones
May 21, 2009

Harvard University is a 501 (c) (3) nonprofit, not a business. This is one of the central arguments that we hear professors, politicians, and students make when they advocate for Harvard to be more socially and morally responsible. But does this claim mean anything? Should Harvard act any different as a nonprofit than as a business? The answer is yes—Harvard gains huge financial benefits as a nonprofit, and with these benefits come additional responsibilities toward the community that businesses do not always have.

The key difference concerns taxes. As a nonprofit, Harvard receives tax exemptions, deductions, and privileges that for-profit institutions must forgo. For example, besides innovative investing techniques, Harvard was able to build its endowment from $4.7 billion in 1990 to $37 billion in 2008 because it did not pay taxes on those gains. Relative to businesses, the federal government is subsidizing Harvard’s investment fund.

In addition, Harvard does not pay real-estate taxes. Instead, it makes voluntary payments in lieu of taxes. Last year, for all of Harvard’s property, it paid $1.9 million in lieu of taxes to the City of Boston. Boston officials estimate these payments would be 10 times as large if Harvard paid real-estate taxes. Partly due to these reduced expenses, Harvard currently owns over 923,000 square feet of property in Allston that are neither developed for Harvard’s purposes nor leased to Allston businesses. Harvard would be less likely to hold these land lots for long-term construction projects if it had to pay real-estate taxes on them.

As a 501(c)(3) nonprofit, Harvard also benefits from tax-deductible donations and a significant amount of federal grant money. Last year, Harvard received $651 million in donations. If donations to Harvard were not tax-deductible, this number would be a small fraction of this total. According to Harvard’s Office of Government, Community, and Public Affairs, Harvard received $535 million in federal grants in fiscal year 2008 that accounted for 82 percent of Harvard’s research revenue. Under the federal stimulus package, federal grants to Harvard are expected to increase considerably. Non-federally funded research is made possible through tax deductions on donations made by corporations and foundations.

President and Fellows of Harvard College is exempt from federal income tax as an educational institution under Section Code of 1986, as amended. As an educational institution, Harvard is also exempt from Massachusetts state income tax.


https://www.thecrimson.com/article/2009/5/21/harvards-role-as-a-nonprofit-harvard/
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techno900



Joined: 28 Mar 2001
Posts: 3756

PostPosted: Fri Jul 03, 2020 2:57 pm    Post subject: Reply with quote

mac wrote:
techno900 wrote:
mac said:
Quote:
Every time you post something, I’m glad you didn’t teach in California. You’re lazy and closed minded. It took one click to find this. I’ll make it simple for you. 1). Some of the endowment funds are restricted by their contributors; 2). The endowment pays about 20% of the budget for the University—thereby reducing the costs that must be paid by fees such as tuition.

Mac, you really need to get a life. Fine, only 20% of your endowment goes to the university budget, but even through the recession, most of the top 100 university endowments continued to grow. So even if 20% is going to the budget, the endowments are still growing. Yes, endowments are restricted, but they contribute to the school's annual budget through the established restrictions, like endowed professorships, capital expenses, scholarships, etc.

Bottom line - between tuition, endowments and annual giving, all budget expenses are covered and endowments still continue to increase.

Harvard:
Quote:
•The endowment’s value was $40.9 billion as of this past June 30, the end of fiscal year 2019—an increase of $1.7 billion (4.3 percent) from $39.2 billion a year earlier.

So, even after their drawdown for budget expenses, they still had a 4.3% increase. So why does the tuition continue to rise? There is no justification.

And I am not for free college. Students should invested in their college education financially, or the motivation to push ahead successfully will be lacking for many.


Techno—you need to get better work habits and some critical thinking capacity. After arguing that endowments should be used to reduce tuition, without checking, I show you how the Stanford endowment in fact pays 20% of the budget. So rather than say oh, I didn’t realize that—you double down.

I agree that students (and many others, like patients) should have some skin in the game. But investing in students is a sound investment—they pay back their costs. Endowments do many things, and each one is different. Techno didn’t check the actual nature of any endowment before making a snarky post.

I’ve put money in the University of Washington’s endowment—to pay for scholarships in my parents name. It would be illegal for the University to use that money to reduce tuition—it is intended to help needy people afford college. Others donate to specific areas, whether art or engineering, it doesn’t matter. I certainly hope that the financial people at the university manage that endowment so that it grows and can help educate more people. I’m putting my money where my values are—higher education—and trying to ameliorate some of the damage done by uninformed “conservatives.”
Techno—if you make an uninformed and stupid claim on a forum—you’re going to get bitch slapped. Get over it, or do some homework. Getting a life might mean more than shoot before you think or aim.


I know you like think that you know it all, but you prove you don't quite often.

Regarding Harvard's endowment:

Quote:
Last year, the school used $1.9 billion from the endowment, in what is known as the endowment distribution, to cover some of the school’s operating costs. About 35% of the school’s annual operating budget is covered this way. The remaining costs are covered by a combination of sources including student income (tuition paid by students) and donations made directly to the school, as opposed to those made towards the school’s endowment.

The school’s latest financial report states that 30% of endowment spending is flexible, while the remaining 70% is allocated to various costs. Twenty-four percent of endowment spending is used for professorships, 19% is used on scholarships and student support, 7% is used on research costs, 4% goes toward the school’s libraries and museums, 2% goes toward faculty and teaching, 1% is used for construction and 9% is used for “other” costs.


I guess you think that when Harvard's endowment grows to $75 billion and tuition reaches $100K, that's a good thing. That's the way it's headed. If more of the endowment is allocated to annual operating costs, then the need for increasing tuition is reduced. Included above is 20% for professorships, which is part of the annual operating budget, so that suggests that up to 50% (30% flexible) of their endowment can be directed to operating costs.

https://www.cnbc.com/2019/10/28/harvards-endowment-is-worth-40-billionheres-how-its-spent.html
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mac



Joined: 07 Mar 1999
Posts: 14966
Location: Berkeley, California

PostPosted: Fri Jul 03, 2020 7:47 pm    Post subject: Reply with quote

Techno—if you want to start a conversation about endowments, and ask if all donations should be tax deductible you might find something to have an adult conversation about. I’m not particularly enamored about the ability of the rich to make tax deductible deductions that shelter some of their income and result in their name on a building. There are issues associated with tax deductible donations that have a political impact—whether left or right—instead of pure charity. Such programs set priorities outside of the representative political process. In the educational arena, it allows priorities to be set in response to rich donors rather than educational needs.

On the other hand, I have no problem with endowments that provide scholarships for talented students that could not otherwise afford Harvard, or Stanford, or Cal. I certainly think there are a whole lot of complicated issues here—that cut against the tax deductibility of donations to the Tea Party—but not the Democratic Party, and some of university endowments. Of course, that is not the kind of conversation you started.
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wsurfer



Joined: 17 Aug 2000
Posts: 952

PostPosted: Fri Jul 03, 2020 10:05 pm    Post subject: Reply with quote

Maybe this should be the endowment forum?

It's supposed be about Agent Orange!

His hair is taking a beating at Mt. Rushmore!

He looks greasy and grimy as ever!

Thank God he's protecting us all!

He's the Greatest President Ever!

USA!
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