Who Profits From Upper West Side's Barnard College?--Part 1

On its website, the Upper West Side Side’s Barnard College describes itself as a “college that has all the advantages of an elite research university” but “is a self-sustaining entity”--despite being “under the Columbia umbrella,” being “located right across Broadway” and being “one of the University’s four colleges.”

In addition, the same website claims that Barnard College is “largely autonomous,” with its “own leadership and purse strings” and its “own bold approach to women-centered education”—although “Barnard and Columbia share a lot” because “students can attend classes at both campuses” and “a Barnard student” can “take advantage of this unique partnership.”

Yet despite its website claiming that the “non-profit” Barnard College institution on the Upper West Side is “largely autonomous” and has its “own leadership” and “own bold approach to women-centered education,” the Barnard College board of trustees apparently still includes Columbia University President Lee Bollinger as an “ex-officio” member.

And, in addition, men like entrepreneur Gregor Freund (until recently the CEO of the for-profit Versal firm that provided software for teachers), for-profit Ford Motor Company Director Bill Helman (who also is a board member of the for-profit Vornado Realty Trust, which owns commercial real estate like the Merchandise Mart in Chicago—as well as commercial and residential properties in Manhattan, like the 325-unit residential apartment building at 50/70 W. 93rd Street on the Upper West Side) and former Warner Bros. Television Group and Digital Networks President Craig Hunegs (who recently left his position as the President of Entertainment at the for-profit Walt Disney Television firm) have sat on the board of trustees of “women-centered” Barnard College in recent years.

Like its “partner” institution, Columbia University, Barnard College is a “non-profit” institution that still doesn’t pay a fair share of NYC, NY State and U.S. federal taxes. And because Barnard College has been considered a tax-exempt institution since 1950, according to the ProPublica website, “donations” made to Barnard College are tax-deductible.

Yet, according to Barnard College’s Form 990 financial filing for 2018, between July 1, 2018 and June 30, 2019, “non-profit” Barnard College’s total revenues, of over $236 million, exceeded the private college’s total expenses, of over $229 million, by over $6.2 million. But during this same period, Barnard College apparently paid “zilch” in federal income taxes.

And, according to Barnard College’s Form 990 financial filing for 2017, between July 1, 2017 and June 30, 2018, “non-profit” Barnard College’s total revenues, of over $306 million, exceeded the private college’s total expenses of over $203 million, by over $103 million; with over $104 million of Barnard’s $306 million in revenues representing its income from investments in for-profit corporations that exploit essential women workers and consumers or from the sale of corporate stocks and bonds (on which it may have apparently paid some capital gains taxes) of these for-profit corporations. (end of part 1. To be continued.)