Stop pretending colleges are nonprofits
Here’s a recent story from the Chicago Tribune that jumped off the page when I read it. Northwestern University is finishing up the construction of a new $800 million football stadium. This is supposedly a nonprofit “educational” entity. Uh-huh. Northwestern -- an “institution of higher learning” located outside of Chicago -- is flush with cash. It has an endowment of nearly $15 billion, and the tax-free donations keep flowing in. Almost all the $800 million -- which rivals the cost of professional sports arenas with luxury skyboxes and opulent decor -- for the lavish Taj ...