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Fernando Mateo and Jake Novak criticize major New York cultural institutions for hoarding massive endowments while continuing to charge the public high admission fees. They argue that these tax-exempt museums act like “dragons” sitting on piles of wealth, suggesting that the billions of dollars in untapped funds should instead be used to provide free access for residents or to support struggling public services. The conversation highlights a perceived misuse of charitable status, claiming that these organizations prioritize executive salaries and risky investments over their civic duty to the community.
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