As states grapple with ever-burgeoning costs associated with entitlement programs – including those that provide financial and other assistance to illegal aliens – there is one group that is making out like bandits in taxpayer funding and subsidies.
According to Real Clear Policy:
During a six-year period (2010–2015), the eight colleges of the Ivy League — Brown, Columbia, Cornell, Dartmouth, Harvard, Princeton, Yale, and the University of Pennsylvania — received nearly $42 billion in U.S. taxpayer subsidies, tax-breaks, and federal payment of contracts, grants, and direct payments.
- 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, and special tax treatment per undergraduate student, or $6.93 billion per year.
- 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).
- In monetary terms, the “government contracting” business of the Ivy League ($25.27 billion in federal contracts and grants) exceeded their educational mission ($22 billion in student tuition) FY2010–FY2015.
- The eight colleges of the Ivy League received, on average, more money ($4.31 billion) annually from the federal government than sixteen states.
- The Ivy League endowment funds (2015) exceeded $119 billion, which is equivalent to nearly $2 million per undergraduate student.
- 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.
- 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.
- 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.
- 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.
- 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.
So next time you run into an entitled precious snowflake from one of the Ivy’s, feel free to trigger the poor sop with details about how you are subsidizing their sorry existence. Of course, they expect nothing less; after all, they deserve it.