Tax evasion in Princeton's eating clubs

Number 27530
Subject Higher Education
Source Daily Princetonian
State
Year 2015
Publication Date May 3,2015
Summary This was an investigation into how Princeton's eating clubs raise millions of dollars to pay for lavish renovations of their social facilities, including taprooms, lounges and dining halls. The investigation found that the leadership of the 12 eating clubs had over time set up a handful of "educational" foundations to hand out tax breaks to their donors. These donations directly violated IRS guidelines. Had the donors given money directly to the clubs, they would have received no tax benefits.
Category IRE Contest Entry
Pages
Keywords clubs; renovations; fundraising; tax; evasion
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