Harvard currently has 501(c)(3) tax-exempt status with the federal government, meaning that the university does not pay taxes on its net earnings while donors are able to get deductions on their income taxes. If Trump follows through with removing the university's nonprofit status, Harvard would have to start paying considerable amounts of taxes, and donations could dwindle if the incentives change.
The Trump administration has cracked down aggressively on elite universities in the U.S. through his first 100 days in office, freezing funding and threatening further action unless university administrators take on antisemitism on campus and cut DEI.
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