Cash-Strapped Connecticut Wants to Tax Yale Endowments

Wednesday, March 23, 2016

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.