endowment

But also to create “a perpetual, fully functioning endowment” — LA Strong Sports — for these kinds of projects around Southern California, impacting youth sports and communities.

In announcing the cuts, the NIH implied on a social media post and on its website that universities with large endowments were spending too much taxpayer money on overhead costs.

In its X post on the change Friday, the NIH shared a graphic that compared the indirect funding rates for Harvard, Yale and Johns Hopkins with their multibillion-dollar endowments.

"Can you believe that universities with tens of billions in endowments were siphoning off 60% of research award money for 'overhead'?" Musk wrote on X. "What a ripoff!"

With Midas-size endowments and a Supreme Court that equates political contributions with free speech, they can shout while most of the rest of us can only whisper.