copenlu/druid huggingface dataset:
Claim: “Harvard is sitting on top of a $54 billion hedge fund they call an ‘endowment’ that they pay zero taxes on. Yale has $31 Billion. Stanford $29 Billion. Princeton $26 Billion.” (Charlie Kirk, 2022-08-24)
Evidence (2022-07-18): In an email obtained by Inside Higher Ed, Suzanne Day, Harvard’s senior executive director of federal relations, urged others to reach out to Democrats in Congress to reduce the endowment tax, a 2017 tax change passed by Republicans that imposes an excise tax on wealthy endowments, through the budget-reconciliation process this fiscal year. [...] Although Harvard is in support of a total elimination of the tax, the email from Day expressed support for a change to the tax that would allow colleges subjected to the endowment tax to be taxed at a lower rate if the college uses a substantial portion of tax-subjected income to provide grants to low-income students, as most do. This measure was included in the Build Back Better reconciliation bill, which died in the Senate after being passed by the House of Representatives in November. Senate Democrats have been negotiating to revive a different version of the reconciliation bill—and Harvard is hoping to get the endowment tax reform on the agenda of Senate Democrats. [...] Education Department data from 2019 show that Harvard’s endowment currently tops $39 billion. A 2019 Harvard financial report estimated that the university would be taxed nearly $50 million per year. Other wealthy private colleges, like Stanford University, with a $27.7 billion endowment in 2019, had an estimated tax liability of $42.9 million.
Claim: “Harvard is sitting on top of a $54 billion hedge fund they call an ‘endowment’ that they pay zero taxes on. Yale has $31 Billion. Stanford $29 Billion. Princeton $26 Billion.” (Charlie Kirk, 2022-08-24)
Evidence (2023-04-13): Column: With a $300-million donation to Harvard, a hedge fund billionaire shows why we need a wealth tax Harvard University wants us to bow down to the exceptional generosity of Kenneth C. Griffin, a hedge fund billionaire who just made a $300-million gift to the school’s graduate program. [...] One particularly questionable category of high-level philanthropy is tax-advantaged donations to rich universities such as, well, Harvard. That ostensibly nonprofit institution has an endowment of more than $50 billion, the largest in the country. On what planet can a taxpayer-subsidized addition to this endowment be justified?
Claim: “Harvard is sitting on top of a $54 billion hedge fund they call an ‘endowment’ that they pay zero taxes on. Yale has $31 Billion. Stanford $29 Billion. Princeton $26 Billion.” (Charlie Kirk, 2022-08-24)
Evidence (2022-08-24): Harvard’s endowment was at $53.2 billion in 2021. Yale’s was $42.3 billion, Stanford’s was $37.8 billion and Princeton’s was $37.7 billion. Kirk’s numbers appear to reflect 2020 endowment values. [...] "Harvard is sitting on top of a $54 BILLION hedge fund they call an ‘endowment’ that they pay zero taxes on," tweeted Charlie Kirk, the founder of the conservative nonprofit Turning Point USA. ‘Elite’ schools sit on a goldmine but the middle class will foot the bill for student loan forgiveness." [...] Kirk’s numbers appear to reflect reported values in 2020, when Yale’s endowment was about $31.2 billion, Stanford’s was $28.9 billion and Princeton’s was $26.6 billion.
Claim: “Harvard is sitting on top of a $54 billion hedge fund they call an ‘endowment’ that they pay zero taxes on. Yale has $31 Billion. Stanford $29 Billion. Princeton $26 Billion.” (Charlie Kirk, 2022-08-24)
Evidence (2022-09-27): The claim: Harvard has a $54 billion untaxed hedge fund called an 'endowment' [...] Harvard's $53.2 billion endowment was the largest in the country in fiscal year 2021. That year, Yale's endowment value was $42.3 billion, Stanford's was $37.8 billion and Princeton's was $37.7 billion. [...] Based on our research, we rate FALSE the claim that Harvard has a $54 billion untaxed hedge fund called an "endowment." A spokesperson for the university said it pays taxes on its endowment. Also, a university endowment is not the same as a hedge fund. Unlike a hedge fund, an endowment accepts charitable donations and can be used only to further the work of the university.
Claim: “Harvard is sitting on top of a $54 billion hedge fund they call an ‘endowment’ that they pay zero taxes on. Yale has $31 Billion. Stanford $29 Billion. Princeton $26 Billion.” (Charlie Kirk, 2022-08-24)
Evidence (2013-05-05): Despite the recent partial recovery of public stock markets, the value of the endowment remains below $17 billion, after accounting for the University’s budgeted spending during the current fiscal year. Consequently, as we anticipated last February and reiterated in our September communication, we need to undertake another round of substantial budgetary actions to achieve balance for the 2010-11 fiscal year and beyond. [...] We explained in our messages to the community last December and February that we did not want to overreact to the downturn in financial markets by making reductions that might later prove unnecessary if markets recovered quickly. Thus, the budget reductions we undertook eliminated most, but not all, of the deficits previously forecast for the years ahead. These forecasts assumed that the June 30, 2009, value of our endowment would be $17 billion. Although the publicly traded portion of our endowment declined no further in value between December and June 30, we continued to incur losses in the value of our illiquid investments in private equity and real estate. The precise final results for the 2008-09 fiscal year are still being compiled and will be announced later this month, but it is clear that we will report a June 30 value of the endowment of approximately $16 billion. Only a small fraction of our endowment is invested in publicly traded securities, so the recent stock market rebound has not had a substantial effect on that number. The bulk of our endowment remains invested in illiquid assets, which have not begun to recover their value.
Claim: “Harvard is sitting on top of a $54 billion hedge fund they call an ‘endowment’ that they pay zero taxes on. Yale has $31 Billion. Stanford $29 Billion. Princeton $26 Billion.” (Charlie Kirk, 2022-08-24)
Evidence (2017-08-26): The cost of running Harvard This is from the 28 August 2017 Bloomberg Businessweek: [...] That is from Kyle Stock, I cannot find it on-line. (I am a biased source, but do note that the new, gated version of Bloomberg Businessweek is consistently excellent.) One of the difficulties with scaling up, of course, is that Harvard cannot always so easily scale the quality and resources of its donors. "Harvard as we know it" may be as large as the current set of donors can support. And "Harvard as we know it" likes…"Harvard as we know it," not some other Harvard.
Claim: “Harvard is sitting on top of a $54 billion hedge fund they call an ‘endowment’ that they pay zero taxes on. Yale has $31 Billion. Stanford $29 Billion. Princeton $26 Billion.” (Charlie Kirk, 2022-08-24)
Evidence (2018-09-10): 2000: UC's endowment cracks $1 billion [...] 2015: New York Times: eight-page spread [...] A new study from the U.S. Government Accountability Office shows Black girls face more frequent and severe discipline in public schools than girls from other racial backgrounds.
Claim: “Harvard is sitting on top of a $54 billion hedge fund they call an ‘endowment’ that they pay zero taxes on. Yale has $31 Billion. Stanford $29 Billion. Princeton $26 Billion.” (Charlie Kirk, 2022-08-24)
Evidence (2020-05-10): A number of very well-resourced institutions, ranging from the Ivy League to Notre Dame and Emory, collectively invest billions of dollars in hedge funds and private equity. Harvard, Yale, Stanford, and Princeton alone accounted for over $107 billion of such accumulated wealth in 2015. In the same year, the endowments of the twenty wealthiest US institutions (including four public university systems — the UC system, the University of Virginia, the University of Texas, and the University of Michigan – Ann Arbor and sixteen private universities) totaled more than $547 billion – a figure roughly comparable to the gross domestic product of Sweden. That these institutions are exempt from local and state property taxes enables this prodigious accumulation of capital, as only the most explicitly commercial activities are taxed, and there are few real restrictions on how endowments may be used and how large they are permitted to grow. But tax-exemption is also useful for an important stratum of the bourgeoisie, which can itself avoid taxes – when wealthy patrons donate to tax-exempt educational institutions, the write-offs their donations generate can play an important role in shielding their own income from taxation.
Claim: “Harvard is sitting on top of a $54 billion hedge fund they call an ‘endowment’ that they pay zero taxes on. Yale has $31 Billion. Stanford $29 Billion. Princeton $26 Billion.” (Charlie Kirk, 2022-08-24)
Evidence (2022-02-12): • Ninety-five percent of US colleges and universities have an endowment equivalent to less than 1 percent of Harvard’s. [...] These claims have merit. But private institutions, especially those with significant resources, should be doing more, as indeed some are. Many of these institutions, as the urbanist scholar Davarian L. Baldwin shows in grim detail in his book In the Shadow of the Ivory Tower, are islands of privilege in or near areas of high poverty and poor public schools—a reality made painfully apparent by the disparate effects of the pandemic. They should be partnering with public libraries on literacy and civic programs; providing legal and other services to the needy; pledging, as Yale has done recently, larger payments in lieu of taxes (or PILOTS) to their municipality; subsidizing rents or otherwise supporting locally owned businesses; and making direct investments in community improvements. They should be opening their doors wider to qualified transfer students from local community colleges. They should be serving veterans, incarcerated people, and local public school students, whose prospects to attend college can be markedly improved by after-school tutoring and other "wrap-around" services of the kind that affluent families take for granted.
Claim: “Harvard is sitting on top of a $54 billion hedge fund they call an ‘endowment’ that they pay zero taxes on. Yale has $31 Billion. Stanford $29 Billion. Princeton $26 Billion.” (Charlie Kirk, 2022-08-24)
Evidence (2015-06-21): Pierce's and Chowning's assessments. [...] 84. Perry Cook and Dexter Morrill, Stanford [...] Yale Oral History Project.
Claim: “Harvard is sitting on top of a $54 billion hedge fund they call an ‘endowment’ that they pay zero taxes on. Yale has $31 Billion. Stanford $29 Billion. Princeton $26 Billion.” (Charlie Kirk, 2022-08-24)
Evidence (2021-12-28): So this year’s list, as you’ll see, reflects the recall – but also much more than that. [...] Want to see more stories like this? Sign up for The Roundup, the free daily newsletter about California politics from the editors of Capitol Weekly. Stay up to date on the news you need to know. Sign up below, then look for a confirmation email in your inbox.
Claim: “Harvard is sitting on top of a $54 billion hedge fund they call an ‘endowment’ that they pay zero taxes on. Yale has $31 Billion. Stanford $29 Billion. Princeton $26 Billion.” (Charlie Kirk, 2022-08-24)
Evidence (2024-01-01): Id., 476 U.S. at 459-460, 106 S. Ct. at 2018 (citations omitted). [...] Id., 435 U.S. at 695, 98 S. Ct. at 1367. [...] This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Claim: “Harvard is sitting on top of a $54 billion hedge fund they call an ‘endowment’ that they pay zero taxes on. Yale has $31 Billion. Stanford $29 Billion. Princeton $26 Billion.” (Charlie Kirk, 2022-08-24)
Evidence (2016-05-05): Colleges and U.S. Federal Government hate kids who come from families that do the right thing. What’s the "right thing"? He comes from a family that pays their mortgage, saved some money for his tuition and put money away for retirement. [...] I get it. No one wants to hear about how the middle-class kid can’t go to the super high-end school of his dreams because he can’t afford it. [...] Hit him in the comments and tell me how out of touch I am, then remember this is all about a 17-year-old boy with a dream. A dream he worked his ass off to achieve.
Claim: “Harvard is sitting on top of a $54 billion hedge fund they call an ‘endowment’ that they pay zero taxes on. Yale has $31 Billion. Stanford $29 Billion. Princeton $26 Billion.” (Charlie Kirk, 2022-08-24)
Evidence (2022-09-05): "Harvard is sitting on top of a $54 BILLION hedge fund they call an ‘endowment’ that they pay zero taxes on," tweeted Charlie Kirk, the founder of the conservative nonprofit Turning Point USA. ‘Elite’ schools sit on a goldmine but the middle class will foot the bill for student loan forgiveness." [...] Kirk’s numbers appear to reflect reported values in 2020, when Yale’s endowment was about $31.2 billion, Stanford’s was $28.9 billion and Princeton’s was $26.6 billion. [...] Calling an endowment a ‘hedge fund’ is a misnomer
Claim: “Harvard is sitting on top of a $54 billion hedge fund they call an ‘endowment’ that they pay zero taxes on. Yale has $31 Billion. Stanford $29 Billion. Princeton $26 Billion.” (Charlie Kirk, 2022-08-24)
Evidence (2018-05-04): Endowment assets are concentrated, with 12% of institutions holding 75% of all endowment assets in 2017. Institutions with the largest endowments (Yale, Princeton, Harvard, and Stanford) each hold more than 4% of total endowment assets. [...] Harvard University had the largest endowment in FY2017, totaling more than $36.0 billion. On a per-student basis, Harvard's endowment was $1.5 million in FY2017. A total of five institutions had total endowment assets of $15.0 million or more, and a per-student endowment of at least $1.3 million (Harvard, Yale, Stanford, Princeton, and MIT). Endowment wealth is highly concentrated in these top institutions, with Harvard holding 6.4% of all endowment assets reported to NACUBO in FY2017. Yale held 4.8% of endowment assets in that same year, with Princeton holding 4.2% of endowment assets. [...] Table B-1 lists the top 100 U.S. college and university endowments reported to NACUBO as of FY2017, including both public and private institutions. Harvard University has the largest endowment, at $36.0 billion. Harvard held 6.4% of all endowment assets reported to NACUBO as of FY2017. The second-largest endowment was held by the Yale University system, at $27.2 billion, or 4.8% of all endowment assets. Taken together, the top 100 institutions listed in Table B-1 held 76.2% of endowment assets as of FY2017.
Claim: “Harvard is sitting on top of a $54 billion hedge fund they call an ‘endowment’ that they pay zero taxes on. Yale has $31 Billion. Stanford $29 Billion. Princeton $26 Billion.” (Charlie Kirk, 2022-08-24)
Evidence (2024-03-23): W ACT 006 Harvard makes so much money from the interest on its endowment that even if the school gave free tuition to all of its students it would still make a profit #myhashtaglol#checkouttheburtnburgerpodcast#wtffunfact#fromwtffunfactdotcom#act#harvard#makes#much#money#interest#endowment#even#school#gave#free#tuition#students#still#make#profit [...] "Elite" Schools sit on a goldmine but the Middle Class will foot the bill for Student Loan Forgiveness #charlie#kirk#harvard#sitting#top#billion#hedge#fund#call#endowment#pay#zero#taxes#yale#has#stanford#princeton#elite#schools#sit [...] HERE'S A NOVEL IDEA. (INSTEAD OF LIBERAL POLITICIANS PERUSING RICH REPUBLICAN BILLIGNAIRES WHO DON'T "PAY THEIR FASR SHARE" IN TAXES, WHY DONT THEY PERUSE THE ENDOWMENT FUNDS OF NON PROFITS UKE HARVARD WHICH PAY HOTHING JUST SO THEY CAN PRODUCE CLONES OF KARL MARM? IF COLLEGES LIKE HARVARD ARE GOING TO CONTINUE TO PUSH RADICAL, LEFTIST, POLITICAL WIEWPOINTS - THEIR TAX EXEMPT STATUS NEEDS TO BE PULLED Web Harvard Freshmen HARVARD.. ENDOWMENT FUND: -*33 BILLIGN DOLLARS #heres#novel#idea#liberal#perusing#rich#republican#billignaires#dont#pay#fasr#share#taxes#why#peruse#endowment#funds#non#profits#uke i_Christian 24 feb 2024 0
Claim: “Harvard is sitting on top of a $54 billion hedge fund they call an ‘endowment’ that they pay zero taxes on. Yale has $31 Billion. Stanford $29 Billion. Princeton $26 Billion.” (Charlie Kirk, 2022-08-24)
Evidence (2021-03-18): A few countries have considered direct financial supports such as "capital endowments" and "baby bonds" (payable at, say, age eighteen) as ways to simultaneously address historical legacies of massively unequal wealth and ease the constraints on upward mobility that can come from being one paycheck away from disaster. As Anthony Atkinson put it in his 2014 book Inequality: What Can Be Done?, "There should be a capital endowment paid to all at adulthood. . . . A case can be made for imposing a degree of ‘prudence’ on its use. . . . Possible permitted uses could include education or training . . . down payments on houses or flats, or the establishment of a small business."142 [...] 105 Chipkin and Swilling, Shadow State, 86. [...] 107 Andrew Weiss and Eugene Rumer, "Nuclear Enrichment: Russia’s Ill-Fated Influence Campaign in South Africa," Carnegie Endowment for International Peace, December 16, 2019, https://carnegieendowment.org/2019/12/16/nuclear-enrichment-russia-s-ill-fated-influence-campaign-in-south-africa-pub-80597, 11.
Claim: “Harvard is sitting on top of a $54 billion hedge fund they call an ‘endowment’ that they pay zero taxes on. Yale has $31 Billion. Stanford $29 Billion. Princeton $26 Billion.” (Charlie Kirk, 2022-08-24)
Evidence (2024-02-02): This problem won’t affect elite institutions, as they receive 10 to 20 times more applications than they have freshman seats. Harvard sitting on a $52 billion endowment while limiting freshman seats to 1,500 defines what it is to be a for-profit firm. Any university that doesn’t increase the size of its freshman class faster than population growth should lose its tax-free status on the return from its endowment. At some of these colleges, the endowments have surpassed the GDP of a Central American nation. We (faculty and administrators) are public servants, not fucking Birkin bags. [...] Harvard sitting on a $52 billion endowment while limiting freshman seats to 1,500 defines what it is to be a for-profit firm. Any university that doesn’t increase the size of its freshman class faster than population growth should lose its tax-free status on the return from its endowment. At some of these colleges, the endowments have surpassed the GDP of a Central American nation. We (faculty and administrators) are public servants, not fucking Birkin bags. [...] Can we bundle all the ‘endowments’, ie the hedge funds that are the college / university engines…and point all that at tuition and course enrichment? Because FFS, there is no value there.
Claim: “Harvard is sitting on top of a $54 billion hedge fund they call an ‘endowment’ that they pay zero taxes on. Yale has $31 Billion. Stanford $29 Billion. Princeton $26 Billion.” (Charlie Kirk, 2022-08-24)
Evidence (2024-10-01): —MIT president James Rhyne Killian [...] - ^ Yale Daily News Staff (2009). The Insider's Guide to the Colleges, 2010. St. Martin's Griffin. pp. 377–380. ISBN 978-0-312-57029-3. [...] - ^ Current statistics from the 2020 FSILG office annual report Archived 2020-06-21 at the Wayback Machine, accessed 22 Jun 2020.
Claim: “Harvard is sitting on top of a $54 billion hedge fund they call an ‘endowment’ that they pay zero taxes on. Yale has $31 Billion. Stanford $29 Billion. Princeton $26 Billion.” (Charlie Kirk, 2022-08-24)
Evidence (2009-05-21): These examples raise a number of ethical questions. Should board members obtain contracts or donations for their own organizations? Is the board member’s disclosure and abstention from a vote enough? Should a major donor receive special privileges, such as a job or college admission for a child? In a recent survey, a fifth of nonprofits (and two-fifths of those with more than $10 million in annual expenses) reported buying or renting goods, services, or property from a board member or an affiliated company within the prior two years. In three-quarters of nonprofits that did not report any such transactions, board members were not required to disclose financial interests in entities doing business with the organization, so its leaders may not have been aware of such conflicts.22 [...] Read more stories by Amanda K. Packel & Deborah L. Rhode.
Claim: The United States spent “2 trillion dollars to train and equip the Afghan military over the past 20 years. They fell in a week.” (Richard Ojeda, 2021-08-15)
Evidence (2021-08-15): The $2 trillion figure is considered credible for the 20-year U.S engagement in Afghanistan, but it includes much more than just training and equipping the military. The fall of the Afghan military and government to fall was fast — nine days from the time Zaranj became the first provincial capital to be seized by the Taliban.
Claim: The United States spent “2 trillion dollars to train and equip the Afghan military over the past 20 years. They fell in a week.” (Richard Ojeda, 2021-08-15)
Evidence (2020-03-02): The war is estimated to have cost the United States around $2 trillion, including money spent on counternarcotics efforts, development projects, and support for Afghan security forces. Billions of dollars have been spent on medical and disability care for U.S. veterans.
Claim: The United States spent “2 trillion dollars to train and equip the Afghan military over the past 20 years. They fell in a week.” (Richard Ojeda, 2021-08-15)
Evidence (2021-07-27): A Breakdown of U.S. Military Spending in Afghanistan America’s own government watchdog says oversight of the money spent on military efforts in Afghanistan has been poor with hundreds of millions of dollars misspent and corruption rife The U.S. and NATO have promised to pay $4 billion a year until 2024 to finance Afghanistan’s military and security forces, which are struggling to contain an advancing Taliban. Already, the U.S. has spent nearly $89 billion over the past 20 years to build, equip and train Afghan forces.
Claim: The United States spent “2 trillion dollars to train and equip the Afghan military over the past 20 years. They fell in a week.” (Richard Ojeda, 2021-08-15)
Evidence (2021-07-08): Together, with our NATO Allies and partners, we have trained and equipped over three hu- — nearly 300,000 current serving members of the military — of the Afghan National Security Force, and many beyond that who are no longer serving. Add to that, hundreds of thousands more Afghan National Defense and Security Forces trained over the last two decades. [...] After 20 years — a trillion dollars spent training and equipping hundreds of thousands of Afghan National Security and Defense Forces, 2,448 Americans killed, 20,722 more wounded, and untold thousands coming home with unseen trauma to their mental health — I will not send another generation of Americans to war in Afghanistan with no reasonable expectation of achieving a different outcome. [...] And I said, "You know, the United States came here to make sure that we got this terrorist, Osama bin Laden, and that terrorists didn’t amass again to — to go after our country. And then we’re going to have to leave." And a young woman said, "You can’t leave. You can’t leave." It was — it was heartbreaking. "You can’t leave," she said. "I want to be a doctor. I want to be a doctor. I want to be a doctor. If you leave, I’ll never be able to be a doctor." Well, that’s why we spent so much time and money training the Afghan Security Forces to do the work of defending that. If every work —