Trump angrily criticized Harvard's stance and threatened to revoke the university's tax - exempt status.
Trump Lashes Out at Harvard's Stance, Threatens to Revoke the University's Tax-Exempt Status
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Telegraph
Trump Lashes Out at Harvard's Stance, Threatens to Revoke the University's Tax-Exempt StatusTrump lashed out at Harvard's stance and threatened to revoke the university's tax-exempt status. The tax-exempt status has brought multiple benefits to Harvard. For example, teaching buildings are exempt from traditional property taxes. The school can also issue bonds exempt from federal interest tax, which helps it attract investors and reduce borrowing costs. Donors can receive tax credits for donating to Harvard University. An analysis estimates that the tax benefits Harvard received in 2023 were at least $465 million. Whether a non-profit organization obtains tax-exempt status is determined by the IRS. If the non-profit organization participates in political campaigns or is too active in lobbying, it may be disqualified from tax exemption. If an institution has too much income unrelated to its core mission or fails to file an annual return with the IRS as required, it may also lose this recognition.…
