Quote:
Originally Posted by Lanny_McDonald
Are you really that dense? Harvard employs 435 people whose job it is to fund raise from those very people who were legacies and will likely have legacies follow them to Harvard. The Ivy League is built on legacy and making sure legacies continue to enter their hallowed halls. Where the #### do you think those billions came from? Listening to EF Hutton? It is all gifts from people who went there and want to ensure their offspring have similar opportunities/advantage. Even though they are completely flush with cash they continue to fund raise and use that money to pay for their gifts to students, which is counter to your point. They could, but they don’t.
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The point is that more billions are no longer needed.
9% of the 5.8 billion dollar operating budget was from gifts for use today. They also had a surplus income of 407 million (independent of the amount the endowment grew). So that 9% works out to roughly 500 million. So you can see how unnecessary all that fundraising is.
They could easily eliminate legacy admissions and lose all of that endowment money and it would not impair their ability to deliver the current level of education now or in the future.
So to answer your question no I am not that dense. Perhaps you are trying to respond to a point I am not making.