Responding to PILOT report: Hey, argues Harvard, we're making contributions to the local community that are larger than our monetary donations might indicate.
"Earlier this week, NPQ published a newswire about the fact that while many major nonprofit health institutions have complied with a PILOT agreement made with the city of Boston, most educational institutions, including the mega-rich Harvard, have not. At that time, I wrote, 'Harvard University was asked to contribute $4.3 million in 2014—it owns $1.5 billion worth of tax-exempt property in Boston—but paid only $2.2 million. But, then again, the world’s wealthiest university is having a tough time, its endowment only having grown to $36.4 billion.' Yesterday, the Harvard Crimson covered the school’s response to the criticisms raised by the original Boston Globe article. Harvard officials said that the school had, since 1928, made 'consistent' and 'reliable' monetary contributions to both the city of Cambridge and to Boston, but it also cited the offsetting value of direct programming which, they say, benefits the local community." -- Ruth McCambridge, the Nonprofit Quarterly