Records Reveal Boston College Has Paid $0 In Income Tax For 150 Years
LINDEN LANE — Owing to an anonymous source, The Classic has obtained Boston College’s tax records dating back to the early 1870s, giving the clearest picture of the University’s finances to date and revealing centuries of chronic tax evasion and seemingly complete impunity from the United States’ tax code.
Following months of analyzing documents and W-2 forms, The Classic can say conclusively that Boston College has paid zero dollars of income tax over the entire duration of its existence.
Last year, Boston College received over $865 million in tuition, donations and government grants. Despite this windfall, the institution paid no money to the federal government, as has been the case for the last one and a half centuries.
The school accomplishes this in a feat of financial wizardry, reporting massive losses in wages, depreciation, research, and other operating expenses that suspiciously equal its revenues exactly.
In fact, the University has failed to turn a profit since the Reconstruction Era, using its massive losses as a way to shield its income streams from federal income tax.
The government has been largely complicit in the college’s accounting scheme, refusing to hand down any punishment following routine audits and even reaccrediting the school several times.
Beyond revenues, Boston College holds billions of dollars in assets, most likely purchased with the money it laundered past the IRS.
Even while reporting almost a billion dollars in losses last year, Boston College has maintained an affluent appearance, recently building a multimillion-dollar gym and tennis court in one of the wealthiest zip codes in Massachusetts.
The documents also raise questions about the University’s service programs, which appear to encourage free labor for other unprofitable tax havens. The most popular of these programs, 4Boston, emerges as a worrying conflict of interest.
Even Boston College’s motto, “Men and Women for Others”, now appears hypocritical coming from an organization that fails to fund the public sector.
This is just one article in a series that The Classic will be publishing as more evidence comes to light.