“The University is engaged in a web redesign effort that began in 2015,” University Spokesman Jack Dunn said in an email. “The Ethical Investment Guidelines remain in full effect and will likely be a component of the new Treasurer’s Office website when it is launched.”
The final version of the Tax Cuts and Jobs Bill Act, enacted on Jan. 1, may not be as damaging to the University as initially feared.
The proposal calls for a 1.4 percent excise tax on the endowments generated by large, private institutions, such as BC. The University announced in September that its endowment had reached $2.4 billion.
“While we in Climate Justice at BC (CJBC) support BC’s right to increase our university’s endowment, we fervently believe that investing in fossil fuels is in direct opposition to BC’s Jesuit Catholic values.”
“Is BC acting like a money addict? Is our endowment a means to an end or a means in and of itself?”
The gains follow a down year in fiscal 2016 in which BC posted investment losses of $97 million.
BC had investment losses of $97 million last fiscal year.
Despite an endowment decrease of $150 million in fiscal 2016, BC’s chief investment officer John Zona made $1.31 million.
Opinions columnist Rachel Loos explains her personal qualms and concerns about the prospect of donating to Boston College after graduating.
