For the Good of Illinois

Ivy League Inc

March 29, 2017 08:01 AM
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IvyLeague_siteadSource: OpenTheBooks.com

KEY FINDINGS:

1. Ivy League payments and entitlements cost taxpayers $41.59 billion over a six-year period (FY2010-FY2015). This is equivalent to $120,000 in government monies, subsidies, & special tax treatment per undergraduate student, or $6.93 billion per year.

2. The Ivy League was the recipient of $25.73 billion worth of federal payments during this period: contracts ($1.37 billion), grants ($23.9 billion) and direct payments – student assistance ($460 million).

3. In monetary terms, the ‘government contracting’ business of the Ivy League ($25.27 billion – federal contracts and grants) exceeded their educational mission ($22 billion in student tuition) FY2010-FY2015.

4. The eight colleges of the Ivy League received more money ($4.31 billion) – on average - annually from the federal government than sixteen states: see report.

5. The Ivy League endowment funds (2015) exceeded $119 billion, which is equivalent to nearly $2 million per undergraduate student.

6. As a non-profit, educational institution, the Ivy League pays no tax on investment gains. Between FY2011-FY2015, the Ivy League schools received a $9.6 billion tax break on the $27.3 billion growth of their endowment funds. In FY2014, the tax-free subsidy on endowment gains amounted to $3.4 billion, or nearly $60,000 per student.

7. With continued gifts at present rates, the $119 billion endowment fund provides free tuition to the entire student body in perpetuity. Without new gifts, the endowment is equivalent to a full-ride scholarship for all Ivy League undergraduate students for 51-years, or until 2068.

8. In FY2014, the balance sheet for all Ivy League colleges showed $194,332,115,120 in accumulated gross assets. This is equivalent to $3.35 million per undergraduate student.

9. The Ivy League employs 47 administrators who each earn more than $1 million per year. Two executives each earned $20 million between 2010-2014. Ivy League employees earned $62 billion in compensation.

10. In a five-year period (2010-2014) the Ivy League spent $17.8 million on lobbying, which included issues mostly related to their endowment, federal contracting, immigration and student aid.

 

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Mike Schroeder
Sedona, AZ
5/14/2017 01:10 PM
 

  When the FEDERAL GOVERNMENT through various programs fund IVY LEAGUE schools to a greater extent than SIXTEEN (16) states you know how the elites take care of themselves with YOUR tax dollars. I suggest getting the FULL report that outlines ALL the federal GRANTS and contracts that go beyond straight funding. Eye opening. What a racket.

 
 
Brianbirc
Buena park, CA
4/12/2017 02:50 PM
 

  Thanks for this. Love how you break down the unimaginable large numbers into per student or per resident (sanctuary City story) so you can actually grasp how much it is. JAW-DROPPING

 
 
Roger Henson
Barnstable, MA
4/2/2017 06:33 AM
 

  So what? Endowments are gifts that the contributor designates for a specific purpose and, by law, cannot be spent on anything else. Attacking the eight Ivy League schools for their endowments does nothing to solve the problem of student debt except to deflect the conversation and potential solutions. Fewer than 1% of students are attending Ivy League Universities.