Tellus endowment research cited in Boston Globe
C-SocPhil’s report on endowments and the financial crisis in the news
BOSTON — The Center for Social Philanthropy at Tellus Institute was cited today in an online story on the pending Massachusetts Higher Education Transparency Act.
As Matt Rocheleau reports on Boston.com, “The bill is driven by a report released last spring that examined six area schools, including five in and around Boston.
“The report, issued by the Center for Social Philanthropy at Boston-based Tellus Institute and partially funded by the Service Employees International Union, says some non-profit, tax-exempt higher education institutions were involved in high-finance-style practices that contributed to the global financial crisis.”
“They made foolish financial decisions,” said state Senator Patricia D. Jehlen, a Somerville Democrat and the lead sponsor of the bill. “And the question is now, have they changed or are they, like many people on Wall Street, doing the same thing they were before the financial crisis and making other people pay for their mistakes?”
