The Dartmouth 07/12/2019

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VOL. CLXXVI NO. 52

RAINY HIGH 83 LOW 60

OPINION

BARTLETT: DERELICT DINING PAGE 4

ADELBERG: CAREER CONSULTING PAGE 4

ARTS

REVIEW: ‘STRANGER THINGS 3’ IS AN ELECTRIC REVIVAL OF THE SERIES PAGE 7

SPORTS

ONE-ON-ONE WITH NEW WOMEN’S LACROSSE HEAD COACH ALEX FRANK PAGE 8 FOLLOW US ON

TWITTER

@thedartmouth

COPYRIGHT © 2019 THE DARTMOUTH, INC.

FRIDAY, JULY 12, 2019

New dry cleaners to open pick-up drop-off location B y LAUREN SEGAL

The Dartmouth Staff

New London Cleaners is expected to open a pick-up and drop-off location in Hanover, replacing Kleen dry cleaners after its closure last month. Kleen dry cleaners, which had operated in the Upper Valley since the 19th century, closed its laundromats, drop-off locations and its central facilities in downtown Lebanon last month after several months of reported financial difficulty.

The Outdoors Program Office has announced interim management following the resignation of director of outdoor programs Timothy Burdick ’89 Med ’02 on June 20. According to a College press release, the search for the next OPO director will begin this fall. Under the interim

Proposed federal endowment tax to affect College

According to the Valley News, New London Cleaners is set to open this week, but the establishment did not appear to have any activity as of Thursday afternoon. According to Hanover town manager Julia Griffin, Kleen faced potential closure since early this winter, but renegotiations with the College, which was loaning out the space, allowed Kleen to remain in business. “Quite frankly, there MICHAEL LIN/THE DARTMOUTH SENIOR STAFF

SEE DRY CLEANING PAGE 3

OPO announces interim co-directors and new hires The Dartmouth Senior staff

HANOVER, NEW HAMPSHIRE

management, associate dean for student life Eric Ramsey will oversee administrative operations and OPO assistant director Rory Gawler ’05 and Paul “Coz” Teplitz will serve as co-directors. Teplitz has previously supervised the outdoor program at Harvard University for nine years and spent six years working at the North Carolina Outward SEE OPO PAGE 5

The Treasury Department proposed a new endowment tax that will affect Dartmouth.

B y eileen brady The Dartmouth Staff

On June 28, the U.S. Tr e a s u r y D e p a r t m e n t proposed rules for the excise tax on endowments on certain colleges and universities that was passed as part of the Tax Cuts and Jobs Act in late 2017. The 58-page document clarified certain aspects of the policy to aid administrators in determining whether the tax applies to their institution and how much colleges owe. The 1.4 percent tax applies to private colleges and universities with at least 500 students and endowments worth at least $500,000 per student. Dartmouth’s over 6,000 students and more than

$5 billion endowment puts it safely in this range, according to the College’s chief financial officer Mike Wagner, making it one of the 25-40 institutions the Internal Revenue Service expects to be affected by the tax. The proposal defined “tuition-paying students” as only students “both enrolled at and attending the institution,” but specified that the $500,000 per student threshold would be based upon the total number of students at the institution, not just those who qualify as tuition-paying. It also clarified what types of income would qualify as taxable, including interest on student loans provided by institutions and student

residential costs, but excluding athletic facilities and certain other campus buildings if 95 percent of their total use is for educational purposes. Wagner noted that certain aspects of the proposal were unexpected. “[Taxing on] dorm rental, that was not one that we were expecting,” he said, but added that yielded interest on student loans came as an even bigger shock. Wagner said that the College thought of financial aids and the student loan program as related to the mission of the isntituiton. “We think that financial aid and the student loan program is really critical to families and SEE ENDOWMENT TAX PAGE 2


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