Take Away Harvard’s Nonprofit Status


By Annie Lowrey – There’s an old line about how the United States government is an insurance conglomerate protected by an army.

Harvard is a real-estate and hedge-fund concern that happens to have a college attached.

From a purely utilitarian perspective, there are causes that need that $350 million more. Groups like GiveWell are devoted to figuring out where a dollar does the most good. It recommends initiatives like deworming in very low-income countries.

Harvard, at the same time, is spending a billion dollars upgrading its coeds’ convenient, riverfront housing. If it wanted to maximize its $32 billion worth of utility, it could, say, admit more students, especially poor ones, reduce its focus on property development, and double down on its focus on research, which currently makes up $800 million of its $4.2 billion in annual operating expenses. more> http://tinyurl.com/lr6ldlt

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