NEW HAVEN, CT -- Facing staggering budget deficits, prominent state legislators and city mayors are eying nonprofit colleges as a lucrative revenue stream. While officials at Yale University call legislation that would implement a new tax on the growth of its endowment an "attack on independent higher education," legislative heavyweights backing the bill say its just forcing the Ivy League school to be a good neighbor.
NEW HAVEN, CT -- Yale University’s endowment earned $2.6 billion in investment gains in fiscal 2015. A proposed bill in the Ivy League school’s home state of Connecticut is eyeing a share of the bounty as a source of revenue. Schools with funds of $10 billion or more -- affecting Yale only -- could face a tax on endowment income, according to legislation introduced this month. Yale’s record $25.6 billion fund is the second largest in U.S. higher education, behind Harvard University’s $37.6 billion.
NEW HAVEN, CT -- The Yale News article describes how Yale University, as a good neighbor, supports the city of New Haven with investments in businesses and schools, a voluntary $8.2 million payment to the city, contributions for a strong tax base.
HARTFORD, CT -- Mmore than 200 first-generation students from Hartford, Bloomfield and East Hartford will receive support to help them not only get accepted into college, but to continue on and graduate, thanks to a three-year, $165,000 grant from the Hartford Foundation for Public Giving to the Hartford Consortium for Higher Education for its Career Beginnings Bridge program.
NEW YORK, NY -- Michael Haberman, Northeast Region Executive for JPMorgan Chase Global Philanthropy, blogs about JPMorgan Chase's $75 million New Skills for Youth Initiative to expand high-quality career-focused education programs that lead to well-paying jobs and long-term careers.
QUINCY, MA -- The Foundation has set into motion a plan that aims to reshape public education to reach an aggressive benchmark: at least 80% college and career readiness for every subgroup and New England as a whole by 2030. Over the next five years, Nellie Mae will increase its capacity and rapidly accelerate its work to meet this ambitious goal. The Foundation is investing $200 million dollars, a 60% increase above its current policy allowances, to dramatically improve educational results for New England’s learners and communities.