Many have large endowments[1] which should cover much of their operating expenses (though I see Rice's 'measly' $5B only covers 40%[2]). 1: http://www.slate.co

Many have large endowments[1] which should cover much of their operating expenses (though I see Rice's 'measly' $5B only covers 40%[2]). 1: http://www.slate.com/articles/business/moneybox/2015/09/harvard_yale_stanford_endowments_is_it_time_to_tax_them.html http://www.slate.com/articles/business/moneybox/2015/09/harv... 2: http://www.ricethresher.org/article/2016/10/5-billion-rices-endowment-explained http://www.ricethresher.org/article/2016/10/5-billion-rices-...