Josh Sigurdson looks at a ten point break down from ‘Open The Books’ on how Universities Bilk the taxpayer.
As Zero Hedge reports, the study proves how dramatic the monetary incentives are for Universities as they indoctrinate undeveloped brains.
1. Ivy League payments and entitlements cost taxpayers $41.59 billion over a six-year period (FY2010-FY2015). This is equivalent to $120,000 in government monies, subsidies, & special tax treatment per undergraduate student, or $6.93 billion per year.
2. The Ivy League was the recipient of $25.73 billion worth of federal payments during this period: contracts ($1.37 billion), grants ($23.9 billion) and direct payments – student assistance ($460 million).
3. In monetary terms, the ‘government contracting’ business of the Ivy League ($25.27 billion – federal contracts and grants) exceeded their educational mission ($22 billion in student tuition) FY2010-FY2015.
4. The eight colleges of the Ivy League received more money ($4.31 billion) – on average – annually from the federal government than sixteen states: see report.
5. The Ivy League endowment funds (2015) exceeded $119 billion, which is equivalent to nearly $2 million per undergraduate student.
6. As a non-profit, educational institution, the Ivy League pays no tax on investment gains. Between FY2011-FY2015, the Ivy League schools received a $9.6 billion tax break on the $27.3 billion growth of their endowment funds. In FY2014, the tax-free subsidy on endowment gains amounted to $3.4 billion, or nearly $60,000 per student.
7. With continued gifts at present rates, the $119 billion endowment fund provides free tuition to the entire student body in perpetuity. Without new gifts, the endowment is equivalent to a full-ride scholarship for all Ivy League undergraduate students for 51-years, or until 2068.
8. In FY2014, the balance sheet for all Ivy League colleges showed $194,332,115,120 in accumulated gross assets. This is equivalent to $3.35 million per undergraduate student.
9. The Ivy League employs 47 administrators who each earn more than $1 million per year. Two executives each earned $20 million between 2010-2014. Ivy League employees earned $62 billion in compensation.
10. In a five-year period (2010-2014) the Ivy League spent $17.8 million on lobbying, which included issues mostly related to their endowment, federal contracting, immigration and student aid.
As universities filled with leftist professors who indoctrinate instead of challenge students, it’s an absolute joke that they rob the taxpayer of so much money. Shouldn’t they be forced to compete for quality by the demand of the public?
While there are some good professors out there without a doubt, the profession over the past 60 years has gotten more and more abundant in leftist professors who indoctrinate the kids to bow down to politics and keynesian economics instead of question the value of the mainstream.
A great example is the lack of free speech and free expression on campuses across the United States where social justice warriors reign and those with different opinions are seen as hate mongers. Yes, there is an incredible amount of irony there.
It has gotten to the point where universities will riot in order to stop controversial speakers from challenging people’s views. Isn’t university supposed to be a place where people challenge their knowledge? Instead, universities are buckling under the pressure and stifling those with opposing views.
Do you really think we should be extorted to perpetuate this nonsense?
Stay tuned for more from WAM!
Video edited by Josh Sigurdson
Graphics by Bryan Foerster and Josh Sigurdson
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