Policy News

Thursday, March 31, 2016
Endowment Taxation Letter - Will Ginsberg

NEW HAVEN, CT -- Will Ginsberg, president & CEO of The Community Foundation for Greater New Haven, writes to CT State Senator for the 11th District, Martin Looney, and CT State Representative for the 96th District, Roland Lemar, about his concerns with the State Legislature's proposed bill SB413.

Thursday, March 31, 2016
CT Joins Fed's Urban-development Challenge

HARTFORD, CT -- Connecticut will join Massachusetts and Rhode Island in the Federal Reserve Bank of Boston's Working Cities Challenge competition aimed at sparking cross-sector collaboration and leadership to solve challenges affecting urban communities. Among the Connecticut nonprofits and companies supporting the effort are: United Illuminating; Stanley Black & Decker; Boehringer Ingelheim; Travelers The Hartford Foundation for Public Giving; Webster Bank; Eversource Energy; Liberty Bank Foundation; Hartford HealthCare; Barnes Group; Hoffman BMW of Watertown/Hoffman Auto Group; United Technologies Corp.; Charter Communications; and Fairfield County's Community Foundation.

Thursday, March 31, 2016
Tax Yale's Endowment? Good Luck With That

NEW HAVEN, CT -- An op-ed by Noah Feldman, a Bloomberg View columnist and professor of constitutional and international law at Harvard on Connecticut's proposed legislation that would tax Yale University's $25.6 billion endowment. "The Connecticut bill almost certainly violates the holding in the 1819 case of Dartmouth College v. Woodward, which established that the Constitution bars states from changing a university's charter. The proposed Connecticut bill would seem to violate Yale's constitutional rights."

Wednesday, March 23, 2016
Taxing Yale: An Attack or Fair Game?

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.

Wednesday, March 23, 2016
Cash-Strapped Connecticut Wants to Tax Yale Endowments

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.