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"IRS Survey Shows Schools Hoard Funds, Grassley Says"

May 14, 2010
Commenting on U.S. Senator Charles Grassley's thoughts that the wealthiest colleges and universities should spend more of their endowments, Tax Partner James K. Hasson, Jr., said "Forcing universities to spend more of their endowments would discourage diversified investing and push them toward more conservative portfolios. A mandate would remove flexibility and creativity from the tools available to colleges. There doesn’t seem to be a crying need for a legal mandate."
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