Endowment funds

Cooking our endowment books . . . should we?

Harvard has released that they are paying their endowment fund managers very large commissions for a 17% return on their investment!

However, while they claimed to have earned the endowment fund almost 5 billion dollars . . .

Only about a billion dollars was given to the university . . .

They could have grown the university's student population more than 50% and let everyone go to school for free . . . but, one would like to know what they did with the profit instead.


http://www.cnn.com/2006/EDUCATION/12/20/harvard.endowment.ap/index.html

 

I reckon that the original donors considered 'planned giving' was supposed to provide 'financial advisors' with windfall profits, and that is why they have given so much money to schools.

:saint:

 

I see a problem when compensation has become filthy lucre.

Our schools in America can (for most of them) afford an almost free education for most students. This is what I, and I dare say most donors, think of when they are asked to give money to build up the trust funds. I personally think that our higher education system deceives in a manner that is close to fraud (IMHO). It is not (IMHO) right for trust funds to become self perpetuating investment funds for investment managers to make big commissions off of. The purpose of granting tax-exempt status to these schools (IMHO) is for them to provide reasonably priced educations to students.

Just another cog in the wheel as the devil prepares the way for his anti-Christ.

And to those fund managers that participate in the large scale profiting because of the system, I do not think that there is adequate compensation for selling one's integrity - even if it is for a 'good cause.'