WFHB Bloomington Community Radio
On November 8, The New York Times published an article about university foundations avoiding taxes on their endowments, many of which are in the billions of dollars, by investing in overseas corporations. The Indiana University Foundation was mentioned within the first sentence of the article. According to documents provided to the Times from a leak at a Bermudan law firm, …
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Voices in the Street: “Is investing in offshore accounts acceptable for IU?”
University endowment earnings are usually tax-exempt. However, depending on the type of investment, even Universities can be required to pay federal taxes. Investing through so-called blocker corporations, which are established in no-tax or low-tax jurisdictions like the Cayman Islands literally blocks the University from having to pay taxes. IU and many other Universities utilize blocker corporations to maximize the return …
Read More »IU Foundation Using Federal Tax-Avoidance Scheme
A New York Times article released this afternoon alleges the Indiana University Foundation off-shored assets in the Cayman Islands, in a federal tax avoidance scheme. The Times piece sources leaks from a Bermuda-based law firm called Appleby. A source from the firm has been at the center of the release of millions of documents spotlighting the world of offshore banking. …
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