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Poll results

The Worcester City Council voted unanimously on April 15 to put a non-binding question on the November ballot, asking if the city’s private colleges and universities should be required to invest 0.5% of their endowments into a community impact fund. As of the second quarter of 2024, Worcester Polytechnic Institute, Clark University, College of the Holy Cross, and Assumption University had combined endowments of $2.23 billion. The presidents of five high-profile Worcester universities pushed back, saying this tax is short-sighted and ill-timed as they battle the federal government's funding cuts. The presidents also said the tax would have to apply to all nonprofits with endowments, not just institutes of higher education.

Regardless of the outcome of the November vote, the City of Worcester doesn't have the authority to tax college endowments. For the City to actually implement the tax, the state Legislature would need to pass a new law.

Should the City of Worcester tax the endowments of colleges and universities?
Yes (35%, 82 VOTES)
No (65%, 154 VOTES)
  • 236 Votes
  • 3 Comments
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3 Comments

  • Robert Anderson
    April 22, 2025

    They pay zero property taxes. The free ride has to stop.

  • David A Jordan
    April 21, 2025

    This would be incredibly counterproductive to the overall Worcester economy. Colleges and universities in Worcester drive hundreds of millions of dollars in economic impact in Worcester given salaries paid to staff/ faculty, the purchasing those employees make in local goods and services, and the intellectual capital they bring to Central MA. I know its politically fashionable to dump on academia in the current political environment but it is a penny wise and a pound foolish - by any measure. Secondly, if the City wants to tax endowment funds of colleges they better be prepared to do the same for ALL nonprofits including nonprofit hospitals, churches, synagogues, the YMCA's, all human service organizations, the Museums and other cultural institutions, etc. Do that and all of Worcester comes out on the losing end. What I would find more reasonable is to establish a clear formula for all nonprofits to follow if they take existing taxable property off of the tax roles ( eg. WPI's move to purchase two hotel properties, etc). That would seem to be a more fair approach than a broad endowment tax.

  • Deborah Graham
    April 21, 2025

    You said so in the question: "Regardless of the outcome of the November vote, the City of Worcester doesn't have the authority to tax college endowments."