Should Harvard’s nonprofit status be voided? Why would any university be considered a nonprofit? Nonprofit: an entity that operates for a cause or mission other than generating profit. Harvard’s nonprofit net worth profit is $64 billion according to their 2024 Balance Sheet. Universities are often non-profit due to their primary focus on education and research… pursuit of knowledge. Education is a ‘mission’.
Harvard’s investment portfolio of $62.7 Billion returns over $5 billion Nontaxabale Income annually. The University’s vast array of museums and libraries contains priceless works of art, historical treasures, literary works, and artifacts. These collections are protected and preserved for public exhibition, education, research, and the furtherance of public service. Their value is NOT included in their financial statements.
In 2024, Harvard Affiliates spent roughly $460,000 on lobbying and $2.58 million on political candidates – 96% of which was to Democrats.
Before Harvard President Lawrence Bacow stepped down his compensation package was $1.757 million. On March 1, 2010, Obama appointed Bacow to the board of advisors for the White House Initiative on Historically Black Colleges and Universities. Bacow received $2,182,717 in compensation in 2011. Howard University has a billion in Endowment funds. Their financial statements claim research expenses in 2024 of $95 million on federal funding of $347 million. According to their website, the last time they funded ANY research opportunities was February 2022. The president of Howard’s compensation package rivals that of Harvard.
The fact that Taxpayers are funding “Private Universities” at all is absurd to the nth degree. Like public schools, universities should be funded by tuition and/or states. They don’t operate for the public. The public does not hire their Administrators. And their property is considered ‘private’ – under trespassing laws. If it is government funded it belongs to The People – ALL People.
I have been rather vocal about my thoughts on government charity given the money is allocated based on various fraud schemes. ALL NGO’s should lose their nonprofit status. At the end of the day, if you are a nonprofit, your Net Assets should be $-0-. Compensation should be based on the same basis as the federal government. And Research Funds should be apportioned to each university based on their student scorecards and research accomplishments by a review board under the same legal tenets as an ‘auditor’ in terms of liability. Like Howard, if you haven’t done any research for 3 years – NO FUNDING.
Here is a look at how some of Harvard’s Research has benefited Mankind:
2023:
HMS cell biologists discover specific airway neurons in mice that alert the brain to the presence of the flu.
HMS Department of Biomedical Informatics find that the sex hormone estrogen not only can fuel cancer but can actually drive genomic rearrangements .
2022:
HMS immunologists identify a mechanism that explains how the body’s most powerful immune troops — T cells — learn to tell self from non-self.
In a first, scientists capture on video all the steps a virus follows as it enters and infects a living cell.
An international research team “co-led” by HMS developmental biologist Norbert Perrimon completes an atlas of every cell found in adult fruit flies.
2021:
HMS systems biologists find a critical clue to explain why certain cells and tissue types in the human body are more vulnerable to the ravages of therapeutic radiation.
Funding for universities began during WWII in 1940 for war projects under FDR’s New Deal. The Higher Education Act was passed in 1965 by Johnson’s Great Society, authored by democrat Edith Green. The Act increased federal money given to universities, created scholarships, gave low-interest loans for students, and established a National Teachers Corps.
The National Teachers Corp was established by Ashkenazi Martin Haberman to fix the void in urban school teaching failures. Obviously, his methodologies were antithetical given that the US now ranks 40th in higher education and 33rd in k-12.