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 — Faced with hundreds of millions of dollars of red ink and shrinking state income tax revenue, some state lawmakers have set their sights on Yale University's $25 billion endowment as a source of new money.
HARTFORD, CT -- As hospital officials describe it, state policy is pushing them in two opposing directions. The state has, in the past five years, increased the net taxes hospitals pay by close to $400 million while reducing Medicaid reimbursement rates for certain services. Hospital leaders say that financial strain adds to the factors pushing independent community hospitals to join larger health systems.
HARTFORD, CT -- The Public Policy Update for February 2016 features National and State updates on issues important to philanthropy including the Call for a Nationwide Debate on Nonprofit and Foundation Advocacy Needs and the Governor's State Budget Revisions.