Taxing college endowments will hurt red-state kids more than coastal elites, argues The Washington Post. The small private colleges that fall under the tax reform’s jurisdiction stand to lose the most, as they have more low-income students than the elite Ivy League universities with larger funds.
The University of Buffalo Foundation was among more than 100 schools to use an offshore fund to invest in fracking and fossil fuels. The $940m endowment invested through EnCap Flatrock Midstream, a venture capital firm that focuses solely on North American oil and gas extraction and production, despite university officials portraying UB as a national leader in climate-change and sustainability research. The Buffalo News has the story.
The value of Brown University’s endowment has hit a record high of $3.5bn following what its president said was a year of “excellent financial results,” writes WPRI.com. The Ivy League school’s endowment rose 13.4% during the fiscal year.
The Texas Tech Foundation has announced five new members to its board of directors, according to the Lubbock Avalanche-Journal. Each of the new trustees’ four-year terms will end in 2021.
The Toledo Museum of Art has completed the first part of a fundraising campaign that raised $43m, reports U.S. News and World Report. The museum says the money will go toward boosting its endowment.