TaxNewsFlash-Exempt Organizations

August 27, 2008
No. 2008-81

PRINTABLE VERSION

Members of Congress to Convene College Endowment Roundtable

Senator Chuck Grassley (R-IA) and Congressman Peter Welch (D-VT) have announced that on Monday, September 8, 2008, they will convene a roundtable to discuss the following topic: Maximizing the Use of Endowment Funds and Making Higher Education More Affordable.

According to a Senate Finance Committee release, college costs have “skyrocketed” in recent years while, at the same time, the value of the wealthiest college and university endowments has risen dramatically. The roundtable will explore the relationship between endowment value and college cost; the legal and accounting definitions of what an endowment is; and the impact of legislation requiring a mandatory payout from endowment funds.

Among those scheduled to speak at the roundtable are government analysts, college presidents, and representatives of higher education-related associations.

For more information, contact Rick Speizman, National Partner-In-Charge, KPMG’s Exempt Organizations Tax Practice (ExoTax), at (202) 533-3084 or rspeizma@kpmg.com

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