Ivy league

The schools in Ivory league (and a few more) are successful school. Not necessarily in the education they provide, but in getting money from their students and graduates. They are actually so successful that some of them have endowment exceeding $1,000,000 per current students.
I never quite understood why they hoard such huge amounts of money (Harvard has about $35 billion) instead of spending them*.
BTW: the endowments and profits of (non-profit) schools are untaxed. It is not really surprising that some people want to take such advantage away from them. And so they should.

* My Fulbright application to spend a year at Harvard was rejected despite the (promised) fee $8,000 to the school, invitation letter and basically minimal burden I would be (no, you do NOT get an office when visiting Harvard. You get a chair in the library). Instead, I went to UCSD, for free and met much friendlier (and better, as far as I can tell NOW) faculty. The reason for me not going to Harvard was a fight between faculty and department of economics about space, reconstruction (and who knows what else) which lead the DoE to reject visiting students as much as possible (exchange programs between Ivory league schools had to keep going, otherwise H. students might have trouble to be visiting elsewhere). There seems to be something rotten in the kingdom of Harvard...