It’s live! My cover feature story for The University of Chicago Booth School of Business Review. So many sidebars! www.chicagobooth.edu/review/in-st...

In Stablecoins We Trust?

Regulation could help lead crypto from the Wild West to Wall Street.

chicagobooth.edu

Excited to start as Associate Dean for Graduate programs at Fisher today. It reminds me of my own time as a grad student at Fisher (👇) & all the gratitude I have for those who supported me. My goal is to pass that on to our current students by lifting up those who support our students every day.

Philip Hackney, a nonprofit law professor who previously worked in the office of the chief counsel of the IRS, and Brian Mittendorf, an expert on nonprofit accounting, explain what it would take for the federal government to revoke a university’s tax-exempt status. phlnthrp.com/43Nahpl

Can Trump Strip Harvard of Its Charitable Status? Scholars of Nonprofit Law and Accounting Describe the Obstacles in His Way

Two experts explain what it would take for the federal government to revoke a university’s tax-exempt status.

phlnthrp.com

This policy, which is so real it was published on the State Department's actual website and not its Substack, is about as bad a policy as one could imagine for American national security and prosperity. The Rubio of 4 months ago would call it insane. Which it is. www.state.gov/releases/off...

New Visa Policies Put America First, Not China - United States Department of State

Under President Trump’s leadership, the U.S. State Department will work with the Department of Homeland Security to aggressively revoke visas for Chinese students, including those with connections to ...

state.gov

I wonder how many schools will legit struggle to open this fall if all of the international students stay home. Have to think there are some small private schools that couldn’t handle even a semester of that disruption

Robert Kelchen@robertkelchen.com · last yr.

We're at the point where higher education cannot count on any international students being present in the fall. One of America's biggest export industries is quickly being demolished.

We're at the point where higher education cannot count on any international students being present in the fall. One of America's biggest export industries is quickly being demolished.

Anthony Michael Kreis@anthonymkreis.bsky.social · last yr.

Another shoe drops.

It is past time for university presidents to do more than sign letters or write op-eds. Do something that puts a counter-message in the news. Show up on the Capitol steps and say Trump's attacks on universities are dangerous for America's economy, well-being, competitiveness, and national security.

Catherine Rampell@crampell.bsky.social · last yr.

Trump team orders stop to new student visa interviews, as it weighs expanding social media vetting www.politico.com/news/2025/05...

On Memorial Day, we honor the brave service members who have made the ultimate sacrifice on behalf of our nation. We owe these heroes and their loved ones everything, and we will always remember what they have done to protect our freedom.

Hey y'all, can we talk about the cruelty of the proposed increase in the 4940 private foundation excise tax for a moment? Folks seem to be missing that IT IS A TARRIFF PAID FOR BY GRANTEES! #nonprofitsky #philanthropy #taxsky #nonprofits

These messages from university leadership can mean a lot. Yes, there's a risk of speaking out, and yes, we need more than just words. But it still means something to me for leadership to call a spade a spade. I would like Emory's president (and all of them) to speak out, plainly and openly.

Ed Boyden@eboyden3.bsky.social · last yr.

My take on the latest federal efforts to go after research universities. I'm now expecting at least a few universities to have their federal financial aid access stripped by fall. www.reuters.com/world/us/tru...

This should be concerning to anyone who cares about education or free speech. I should also note that international students are people who are intrinsically valuable and add to our country’s educational environment.

Trump administration bars Harvard from enrolling international students | CNN

The Trump administration on Thursday revoked Harvard University’s ability to enroll international students, marking a sharp escalation in the battle over the Ivy League school’s autonomy in the face o...

cnn.com

Once drawn to the U.S. as a haven, some int'l students find it is not the bedrock of free speech they expected. “That respect in the American system has kind of faded away and been replaced with this bitter animosity." w/ the wonderful @holpuch.bsky.social www.nytimes.com/2025/05/16/w...

For Some International Students, U.S. Dreams Dim Under Trump

nytimes.com

Who said only basketball coaches make top money at elite private universities? Behold: Duke CIO Neal F. Triplett, who earned a school-leading $4.7 million in FY24, well ahead of Jon Scheyer’s meager sum of $2.38 million. For @sportico.bsky.social 👇 www.sportico.com/leagues/coll...

With Coach K Off Devils’ Dole, Duke’s Biggest Earner Didn’t Coach Hoops

With Mike Krzyzewski finally off the school's payroll, Duke's highest-paid employee in FY24 did not even work in the university's athletic department.

sportico.com

The winner in this deal may be donor-advised funds. We’ll see what the fine print looks like.

Robert Kelchen@robertkelchen.com · last yr.

Congressional Republicans are looking at taxing foundations as well as universities. The largest foundations could see a 10% tax on their investment income, which would be another hit to higher ed.

Insightful conversation here from @eotaxprof.bsky.social and @countingcharity.bsky.social #nonprofitsky theconversation.com/can-trump-st...

Can Trump strip Harvard of its charitable status? Scholars of nonprofit law and accounting describe the obstacles in his way

The IRS would need to conduct an audit first. And presidents aren’t allowed to make the IRS do that.

theconversation.com

Trump threatens to revoke Harvard's tax-exempt status, but experts say it's not that simple. The IRS would need to conduct a lengthy audit and prove Harvard has a "substantial nonexempt purpose." #highered By @eotaxprof.bsky.social @countingcharity.bsky.social #nonprofitsky

Can Trump strip Harvard of its charitable status? Scholars of nonprofit law and accounting describe the obstacles in his way

The IRS would need to conduct an audit first. And presidents aren’t allowed to make the IRS do that.

buff.ly

I chipped in a brief comment for this AP piece about Bill Gates's new plans to spend down over the next 20 years: apnews.com/article/bill... (And thanks to the magic of press syndication, I am also clocking up media appearances today in some brilliantly improbable places as a result...)

Bill Gates pledges his remaining fortune to the Gates Foundation, which will close in 20 years

Bill Gates says he will donate 99% of his remaining tech fortune to the Gates Foundation. Today, that would be worth an estimated $107 billion.

apnews.com

The Gates Foundation will close in 20 years, Bill Gates announced today. By 2045, the foundation is expected to spend roughly $200 billion — the largest amount a private foundation has ever given away. Read the story: phlnthrp.com/3F5jQY7

The Gates Foundation, the World’s Biggest Philanthropy, Announces Plans to Shutter in 2045

Bill Gates said his foundation will give away $200 billion over the next 20 years, accelerating donations in global health and other areas.

phlnthrp.com

Want to know more about the NRAs chances for a financial turnaround? @stephengutowski.bsky.social & I got a chance to discuss their latest financials here:

Have the NRA's Finances Turned a Corner? (ft. OSU Professor Brian Mittendorf) | Full Podcast

YouTube video by The Reload

m.youtube.com

In her nearly four-month tenure as head of the National Council of Nonprofits, Diane Yentel has joined two lawsuits against the Trump administration and warned against silence and infighting. phlnthrp.com/4df44a5

An Outspoken CEO Rises to Defend Nonprofit Sector in Turbulent Times

In her nearly four-month tenure as head of the National Council of Nonprofits, Diane Yentel has joined two lawsuits against the Trump administration and warned against silence and infighting. Plus, se...

phlnthrp.com

Quoted in WSJ "None of this is normal,” said Phil Hackney, who advised the tax-exempt division commissioner as a lawyer at the IRS in the early 2000s. www.wsj.com/politics/pol...

Exclusive | Trump Officials Explore Ways of Challenging Tax-Exempt Status of Nonprofits

Some IRS officials fear such a move could damage the agency’s apolitical approach.

wsj.com

Good to see @eotaxprof.bsky.social explaining how the presidential attack on nonprofits we’re seeing unfold is not normal.

Exclusive | Trump Officials Explore Ways of Challenging Tax-Exempt Status of Nonprofits

Some IRS officials fear such a move could damage the agency’s apolitical approach.

wsj.com

NRA finances continue to decline but clear signs of green shoots which may mean programming growth in 2025.

@thereloadteam.bsky.social · last yr.

NRA Financial Spiral Slows as Reformers Cement Control thereload.com/nra-financia...

New research with @helenofips.bsky.social on donor-advised funds (DAFs) now in NVSQ: journals.sagepub.com/doi/10.1177/... A short thread. 1/4

For followers of the NRA saga, there was a time when this seemed impossible. Amazing how much financial turmoil led up to the shift.

Stephen Gutowski@stephengutowski.bsky.social · last yr.

Reformers have solidified control of NRA leadership. Bill Bachenberg beats out Bill Barr for NRA President. Mark Vaughan moves to First Vice President. Rocky Marshall becomes Second Vice President. All the other officers stayed the same.

Wild times when just describing the basics of what a real financial audit is requires anonymity for protection against retaliation.

‘It’s a Heist’: Real Federal Auditors Are Horrified by DOGE

WIRED talked to actual federal auditors about how government auditing works—and how DOGE is doing the opposite.

wired.com