N.H. Attorney General: “No Merit” in Anonymous Endowment Allegations


[[{“type”:“media”,“view_mode”:“media_large”,“fid”:null,“attributes”:{“class”:“media-image alignright size-full wp-image-3508”,“typeof”:“foaf:Image”,“style”:“”,“width”:“100”,“height”:“100”,“title”:“”,“alt”:“Dartmouth shield”}}]]The New Hampshire Attorney General’s Office has notified Dartmouth that it has reviewed anonymous allegations regarding how Dartmouth invests its endowment and has found that the claims do not merit further investigation.

“Based on the unsupported nature of the allegations in the Complaint, the content of the Responses, and our review of the college’s most recent financial statement, we find no basis to conclude Dartmouth’s Trustees have violated state law by engaging in related party transactions involving the investment of a portion of Dartmouth’s endowment,” says an October 12, 2012 letter from the director of the Charitable Trusts Unit in the Attorney General’s Office.

The anonymous allegations made unfounded assertions concerning endowment investments in funds run by or associated with members of Dartmouth’s Board of Trustees.

“The Attorney General’s finding that these anonymous and baseless allegations are without merit speaks to the rigor of Dartmouth’s policy and practice. As we have said previously, Dartmouth meets or exceeds all the requirements of New Hampshire law with regard to its endowment investments and for investments with firms managed by trustees or Investment Committee members,” says a statement from Dartmouth.


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