The Edifice Complex

Ideas & Perspectives
Ideas & Perspectives

Volume 25

No. 12//

September 24, 2000

Private-independent schools have been on a tear of late, building grand buildings (to match the ostentation running amok in the housing sector) or remodeling old ones. All the while, they generally are growing their endowments through the use of tax-exempt bonds leveraged in a currently favorable investment climate. (Some schools do take the more conservative approach of raising money via capital campaigns before starting construction.)

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