Financial endowment

=== Endowment taxes ===
{{Main|Endowment tax}}
Generally, endowment taxes are the taxation of financial endowments that are otherwise not taxed due to their charitable, educational, or religious mission. Endowment taxes are sometimes enacted in response to criticisms that endowments are not operating as [[nonprofit organization]]s or that they have served as [[tax shelter]]s, or that they are [[Payment in lieu of taxes|depriving local governments of essential property and other taxes]].<ref>{{cite web|title=Ways and Means Questions Nonprofit Hospitals' Tax Status|publisher=The Commonwealth Fund 1 East 75th Street, New York, NY|url=http://www.cmwf.org/healthpolicyweek/healthpolicyweek_show.htm?doc_id=278529|access-date=2007-01-22|archive-url=https://web.archive.org/web/20061004064034/http://www.cmwf.org/healthpolicyweek/healthpolicyweek_show.htm?doc_id=278529|archive-date=2006-10-04|url-status=dead}}<br />{{cite web|author=Jill Horwitz|title=Testimony Before House Ways and Means Committee|date=2005-05-26|url=http://www.sph.umich.edu/cleh/papers/horwitz.pdf|archive-url=https://web.archive.org/web/20160305172650/https://sph.umich.edu/cleh/papers/horwitz.pdf|archive-date=2016-03-05|url-status=dead}}</ref><ref>{{cite web | last=He | first=Ray C. | title=Cambridge Seeks to Tax Earnings on Endowment | work=Volume 125, Number 44 | publisher=[[The Tech (newspaper)|The Tech]] | date=October 4, 2005 | url=http://tech.mit.edu/V125/N44/cambsurcharge.html | access-date=May 20, 2019 | archive-date=April 8, 2022 | archive-url=https://web.archive.org/web/20220408123247/http://tech.mit.edu/V125/N44/cambsurcharge.html | url-status=dead }}</ref>