It should be added to this discussion that other schools have made much more substantial payments to the communities in which they live and thrive, Cornell being just one example. Those who cling to the argument that schools like HWS are exempt from paying property taxes under state law must recognize that those laws were enacted in a totally different time, long before schools like HWS became mega-million dollar business enterprises, and before even small schools like HWS had endowments of more than 100 million dollars (for the record, HWS' endowment in 2013 was reported to be in excess of $175 million, according to New America Foundation )