Rich U.S. Schools Defend Tax-Free Status, Spending of Endowments
- Harvard, Yale, Princeton among schools responding to inquiry
- Two congressional committees sent letters to 56 universities
Sterling Memorial Library on the Yale University campus in New Haven, Connecticut.
Photographer: Craig Warga/BloombergThis article is for subscribers only.
The richest private U.S. universities, including Harvard and Yale, said a tax-exempt status is crucial to their endowments and the schools’ mission as academic and research institutions in response to an inquiry by U.S. lawmakers.
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