June 8, 2007

Senate Committee Examines Endowments

By BRAD WOLVERTON

College endowments and other tax-exempt entities could be held to far stricter financial-disclosure requirements under a proposal being considered by the leaders of the U.S. Senate Finance Committee.

Prompted by concerns that some endowments hoard cash, invest in offshore tax shelters, and do not disclose adequate information about their charitable activities, Sen. Max S. Baucus, the Montana Democrat who is the committee's chairman, and Sen. Charles E. Grassley of Iowa, its senior

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