Congress requests information about University endowment
Margaret Hynds | Tuesday, February 16, 2016
The Senate Finance and House Ways and Means committees have requested information on the endowments of the 56 universities with the highest endowments in the country, Bloomberg Business reported last week.
With an endowment of $10.5 billion, Notre Dame remains among the wealthiest universities: Bloomberg lists the University’s endowment as the sixth-largest in the country.
Vice President and Chief Investment Officer Scott Malpass said the inquiry was not unusual.
“Congress from time to time in exercising its duties seeks information from various parties, both public and private, in order to better inform themselves on policy issues,” Malpass said in an email. “Notre Dame, like many other organizations around the country, often contributes to a better understanding of particular issues that are of interest to Congress.”
The letter received by Harvard University president Drew Gilpin Faust obtained by the Chronicle of Higher Education included 13 questions related to endowment management, endowment spending and use, donations and conflicts of interest.
Malpass said the University will supply the information sought in the letter by the two committees.
“In this case, Congress is requesting information that relates to the development of tax policy, and we will assist fully in that discussion,” he said. “These are private inquiries by Congress so the content of any such responses are not made public.”