A damning report from OpenTheBooks exposes the dark underbelly of prestigious universities amassing federal grants and contracts totaling a staggering $33 billion since 2018.
Unbelievably, ten renowned institutions with hefty endowments exploited tax dollars, with their collective endowments skyrocketing from $172.2 billion in 2018 to an astonishing $237 billion by the close of 2022.
Adding insult to injury, these universities enjoyed a collective $12 billion in special tax treatment benefits during this period.
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In a flagrant abuse of taxpayer funds, Stanford University, Columbia University, University of Pennsylvania, Yale University, and Harvard University shamelessly pocketed nearly $7 billion, $5.9 billion, $3.7 billion, $3.5 billion, and $3.3 billion in federal grants and contracts from 2018 to 2022, respectively.
Princeton University, Brown University, and Dartmouth College weren’t far behind, seizing nearly $1.8 billion, $1.2 billion, and $775 million, respectively.
CEO and founder of OpenTheBooks, Adam Andrzejewski, expressed justified outrage, stating, ‘With the U.S. taxpayer subsidies, tax-breaks, and federal payments into these ten elite universities pushing $7 billion per year, it’s time to revisit the definition of a public charity. Collectively, these schools have gamed the tax code for vast institutional enrichment.’
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Shockingly, these institutions, once revered as centers of education, have morphed into federal contractors, pocketing more from government contracts and grants than undergraduate student tuition. To add insult to injury, some of these universities shamelessly tapped into COVID-19 relief funds.
Five of these elitist schools, including UPenn, Cornell, Columbia, Dartmouth, and Brown, snagged $220.6 million from the Higher Education Emergency Relief Fund, according to OpenTheBooks.
Disturbingly, several of these taxpayer-funded colleges have exhibited anti-Israel sentiments on campus, particularly in the aftermath of the Oct. 7 Hamas terrorist attacks on Israel that claimed over 1,400 lives.
At Stanford, students are engaging in a pro-Palestinian sit-in protest, demanding the administration condemn Israel.
Harvard saw over 30 student organizations sign a letter blaming Israel for the attacks, showcasing a shocking betrayal of values and a disturbing alignment with terrorism sympathizers.”
