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College and University Discussion
Reply to "In your opinion, how should the elite colleges decide conduct admissions?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]You are making a legal argument. What specifically makes them ineligible for 501(c)(3) status under the Internal Revenue Code?[/quote] I’m not a non-profit lawyer but I would argue that they are deceptive in purpose. Their primary goal is to maximize returns for their billions in endowment, not to educate (e.g. a private interest that benefits the Harvard Corp.). Essentially, their primary purpose isn’t to educate any more, it’s to maximize the endowment. The lack of transparency does not permit independent evaluation of whether these schools are in fact primarily dedicated to education and whether that is working or not. [/quote] What section of the Internal Revenue Code prohibits maximizing endowment?[/quote]
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