Harvard, Yale Accused Of Not Reporting Hundreds Of Millions In Foreign Donations
The U.S. Department of Education says it is opening an investigation into Yale and Harvard universities for failing to disclose hundreds of millions of dollars in gifts and contracts from foreign donors.
The two Ivy League schools have been singled out in a federal crackdown on institutions of higher learning
for allegedly not reporting foreign donations of more than $250,000, as required by law under Section 117 of the Higher Education Act.
The Department of Education said Yale failed to disclosed a total of $375 million in foreign money and that it was concerned that Harvard may not have fully complied with reporting requirements.
“This is about transparency,” Secretary of Education Betsy DeVos said in the statement.
“If colleges and universities are accepting foreign money and gifts, their students, donors, and taxpayers deserve to know how much and from whom.”
NPR