Senior Associate Dan Apfel criticizes university offshore investments in Daily Pennsylvanian
Senior Associate Dan Apfel was quoted this month in an article in the Daily Pennsylvanian, discussing university endowments and the Paradise Papers. The article discussed The Paradise Papers, a recent leak of over 13 million documents about operations in offshore tax havens, including information about the investments of over 100 universities.
In the article, which particularly addresses the University of Pennsylvania's investments, Apfel encourages Universities to consider their role in society when making investment. "If universities are avoiding taxes and are already given a tax exemption, then they’re setting a bad example for the rest of society," he told the Daily Pennsylvanian.
Senior Associate Dan Apfel was the executive director of the Responsible Endowments Coalition and is often cited on issues regarding university endowment investments. Please contact Dan Apfel for more information.
To learn more about the Institute's work in this area, see our program page on Institutional Accountability.