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OpenTheBooks Oversight Report - Ivy League Inc

March 29, 2017 06:00 AM
 

OpenTheBooks Oversight Report
IVY LEAGUE, INC.
 

 
Download a PDF copy of our report click here. 
 
Ivy_League
 

OpenTheBooks Oversight Report
IVY LEAGUE, INC.

 
Download a PDF copy of our report click here. 

U.S. Taxpayer Subsidies, Tax-Breaks and Federal Payments
Into the Ivy League Colleges, Fiscal Years 2010–2015

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.

 

IVY LEAGUE FINANCIAL SCORECARD: 

 
Ivy_Leauge_Scorecard
 

DOWNLOAD OUR RAW DATA SETS:

1.  Federal Grants, Contracts and Direct Payments ($25.73 Billion) 2010-2015:

NOTICE –  read before downloading Excel databases*
*By clicking on the download, user agrees to cite (Source: OpenTheBooks.com) on any and all references to the copyrighted datasets. Terms and Conditions:
for more information click here. For further questions, please contact Adam Andrzejewski (say: Angie-eff-Ski), CEO of OpenTheBooks.com at adam@openthebooks.com. Datasets are copyrighted 2017 by OpenTheBooks.com and can be used subject to the terms above.

Contracts: click here*
Sub-Contracts: click here*
   
Grants:  
1-25,000 transactions
click here*
25,001-50,000 transactions
click here*
50,000+ transactions
click here*
Sub-Grants: click here*
   
Direct Payments (Student Aid): click here*


2.  IRS 990 Information Returns FY2014 (latest year available):

Brown University: IRS 990 click here
Columbia University: IRS 990 click here
Cornell University: IRS 990 click here
Dartmouth College: IRS 990 click here
Harvard College:  IRS 990 click here
PENN-University of Pennsylvania: IRS 990 click here
Princeton University: IRS 990 click here
Yale University: IRS 990 click here

Download a PDF copy of our report click here. 

 

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Bill Birmingham
Roselle Park, NJ
3/29/2017 09:08 PM
 

  I am not surprised. I worked manual labor and put my self through a state school. I graduated college at 33 years old. However, my son was accepted at Cornell. I was working and my wife was working. We were paying taxes that supported all these Ivy League schools. We had a little money saved for college and borrowed against our 401K. We gave our son +$100,000. However, because we were working the college gave my son $0. My son had to take out +$100,000 in Student loans, He is now 27 and will be paying these well into his 40's. What gets me is that a foreign student may get a free ride or some one who's parents do not pay taxes will get a huge break. It is based 100% on income. They don't look that it took you 20 Years to start making a decent living. I didn't make $40,000 until I was over 40 Years old. Ignoring that if your parents work they are expected to come up with +$50,000 per year after taxes. That is dramatically more than my wife takes home. Why aren't these endowments helping alumni that are burdened by overwhelming Student loans, My sons Student loan Payments are more than most peoples mortgages. Yet,Cornell has an endowment in the Billions. And Now they are looking for donations from us to their endowment. What an insult!

 
 
Kieth Wilson
Port Huron, MI
3/29/2017 09:03 PM
 

  Wow! Absolutely ridiculous Eye opening article

 
 
Ethan
Franklin, IN
3/29/2017 08:43 PM
 

  This may explain why Elizabeth Warren can make over $400,000 a year to teach one class.