Locator: 48570HARVARD.
Right, wrong, indifferent: constitutionally, I understand separation of state and church, and the latter's tax-exempt status.
I don't understand why universities earn a tax-exempt status. This will be fascinating to watch. Especially after they have a billion dollars in endowments and seem unwilling to lower tuition and fees. Harvard:
- endowment: $55 billion
- undergraduate enrollment: 10,000
- annual tuition, $100,000 x 10,000 = $1,000,000,000
- $1,000,000,000 / $55,000,000,000 = 0.01818 = 1.818%
- annual growth, tax exempt: >8%
Disclaimer: I often make simple arithmetic mistakes
From The Harvard Crimson, link here:
Harvard Management Company returned 33.6 percent on its investments for the fiscal year ending in June 2021, skyrocketing the value of the University’s endowment to $53.2 billion, the largest sum in its history and an increase of $11.3 billion from the previous fiscal year.
One assumes the endowment includes "new" money from new contributions, and moving federal dollars from other accounts into the endowment.
Don't bet against MSFT.
Don't bet against AAPL.
Don't take on the President of the US.
Disclaimer: this is not an investment site. See disclaimers -- links to disclaimers -- at every page on the blog.
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Another Crowd-Pleaser
Nikola Jokićs top 30 plays. Link here.
