COME TO THE PUBLIC HEARING
Higher Education Transparency Act
Thursday, June 9
10:30 AM
Massachusetts Statehouse, Room A-2
Show your legislators that you support this act!
Register to attend today by calling 617-878-7555
What exactly will the law do?
1– Require the schools to calculate the total amount
of tax payer support they receive.
2- Report every employee that makes over $250,000
by name, title and amount received.
3- Report any contracts with outside vendors that ex-
ceed $150,000.
4- Require every board member or trustee to report
potential conflicts of interest
5- Report compensation for every outside investment
manager engaged by the endowments or institution
by name, amount compensated and assets under man-
agement.
Why do we need this law?
Taxpayers have a right to know how their
money is spent.
Major colleges and universities that are pri-
vate, nonprofit institutions receive millions of
dollars in public funds and have a responsibil-
ity to citizens and taxpayers of the Common-
wealth.
Transparency is in the public interest
Information is necessary for the public to
make an informed decision about whether it is
in the public interest to give millions to elite
schools rather than their communities
Transparency is in the universities’ interest
If administrators are acting responsibly, finan-
cial transparency helps reassure the public
and improve their image with donors.
Many private colleges and universities
claim that they have no money.
They are using the economic crisis as a reason
to raise tuition and fees, cut services, abandon
community projects, and inflict hours cut-
backs, layoffs, higher health care costs, and
concessionary contract demands on workers.
We have a right to know if they really have no
money or if they are using the crisis as an
excuse.