As Goes Harvard …
source: http://www.american.com/archive/2008/february-02-08/as-goes-harvard
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Thanks to political pressure and Ivy League trends, American universities may begin spending more of their endowments.
Most agree this isn’t merely a wave of academic altruism; rather, it’s the latest development in a long-running battle between congressional watchdogs and the nonprofit sector. Harvard happens to be a tempting target for federal scrutiny since, as Slack notes, its overall endowment (nearly $35 billion) “is more than the GNP of a lot of countries."
Most agree this isn’t merely a wave of academic altruism; rather, it’s the latest development in a long-running battle between congressional watchdogs and the nonprofit sector. Harvard happens to be a tempting target for federal scrutiny since, as Slack notes, its overall endowment (nearly $35 billion) “is more than the GNP of a lot of countries."
