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Not to mention all those legal covenants have another party to them - they're not written in stone. I'm sure a good number of them would be willing to consideri
by pc86 2y ago
Not to mention all those legal covenants have another party to them - they're not written in stone. I'm sure a good number of them would be willing to considering loosening legal restrictions if it would really help.
- ThrowawayR2 2y agoEndowments have come from people over the entire history of the institution. The vast majority of the endowers are likely deceased and won't be able to agree to change the terms of their endowment.
- pc86 2y agoAnd yet some trust, estate, or descendant somewhere ultimately has the authority to change those agreements. These things are not immutable facts of the universe, they can be changed. As for the minority where that is not the case, it also means nobody will have standing to sue if the school decides to stop letting someone who died 200 years ago decide exactly how Harvard's money will be spent.