endowment

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Endowment

A transfer, generally as a gift, of money or property to an institution for a particular purpose. The bestowal of money as a permanent fund, the income of which is to be used for the benefit of a charity, college, or other institution.

A classic example of an endowment is money collected in a fund by a college. The college invests the endowment so that a regular amount of income is earned for the school. Typically, the monies for the endowment are derived from donations by alumni of the college.

Often, an endowment is designed to support a particular activity, such as the construction of a new wing by a hospital. Each donor sets up an endowment fund sufficiently large to earn income to pay the expenses of one room or a different part of the wing, such as a library.

The Uniform Management of Institutional Funds Act (7A U.L.A. 233 [West Supp. 1992]), which was first created in 1972 and has since been adopted as law in many states, regulates spending and investment decisions related to such endowments.

The term endowment is also used to describe the act of putting aside the amount of property that a wife is lawfully due to inherit from her spouse. At Common Law, a woman was "endowed at the church door," upon marriage, when she acquired her Dower right—the right to use one-third of her husband's land upon his death for the remainder of her life.

endowment

n. the creation of a fund, often by gift or bequest from a dead person's estate, for the maintenance of a public institution, particularly a college, university, or scholarship.

endowment

noun aid, allotment, allowance, assistance, award, benefaction, benefit, bequeathal, bequest, bestowal, bestowment, boon, bounty, contribution, donation, dowry, enrichment, fund, funding, gift, grant, presentation, presentment, provision, stipend, subsidy
Associated concepts: annuity, endowment fund, endowwent policy in insurance
See also: ability, aid, appropriation, aptitude, assistance, attribute, behalf, benefit, bequest, caliber, charity, color, competence, complexion, concession, contribution, dedication, donation, dower, faculty, fitness, flair, foundation, fund, gift, grade, grant, inheritance, investment, largess, legacy, organization, pension, performance, perquisite, potential, present, provision, qualification, quality, skill, specialty, support

ENDOWMENT. The bestowing or assuring of a dower to a woman. It is sometimes used: metaphorically, for the setting a provision for a charitable institution, as the endowment of a hospital.

References in classic literature ?
As he possessed no higher attribute, and neither sacrificed nor vitiated any spiritual endowment by devoting all his energies and ingenuities to subserve the delight and profit of his maw, it always pleased and satisfied me to hear him expatiate on fish, poultry, and butcher's meat, and the most eligible methods of preparing them for the table.
Benevolence, devotedness, enthusiasm, were her antipathies; for dissimulation and self-interest she had a preference--they were real wisdom in her eyes; moral and physical degradation, mental and bodily inferiority, she regarded with indulgence; they were foils capable of being turned to good account as set-offs for her own endowments.
Doctor Elnathan Todd, for such was the name of the man of physic, was commonly thought to be, among the settlers, a gentleman of great mental endowments, and he was assuredly of rare personal proportions.
Tom Bertram must have been thought pleasant, indeed, at any rate; he was the sort of young man to be generally liked, his agreeableness was of the kind to be oftener found agreeable than some endowments of a higher stamp, for he had easy manners, excellent spirits, a large acquaintance, and a great deal to say; and the reversion of Mansfield Park, and a baronetcy, did no harm to all this.
Georgiana's lovers were wont to say that some fairy at her birth hour had laid her tiny hand upon the infant's cheek, and left this impress there in token of the magic endowments that were to give her such sway over all hearts.
In consideration of certain mental endowments which it is unnecessary to specify, and in further consideration of one thousand louis d'or, I being aged one year and one month, do hereby make over to the bearer of this agreement all my right, title, and appurtenance in the shadow called my soul.
Last-Trick is a man of mental endowments and a high public character; but in this country the relations of employers and employed are considerably strained.
In addition to what has been already said of Catherine Morland's personal and mental endowments, when about to be launched into all the difficulties and dangers of a six weeks' residence in Bath, it may be stated, for the reader's more certain information, lest the following pages should otherwise fail of giving any idea of what her character is meant to be, that her heart was affectionate; her disposition cheerful and open, without conceit or affectation of any kind -- her manners just removed from the awkwardness and shyness of a girl; her person pleasing, and, when in good looks, pretty -- and her mind about as ignorant and uninformed as the female mind at seventeen usually is.
If what is now said does not make this clear, we will explain it still further: if there should be any one, a very excellent player on the flute, but very deficient in family and beauty, though each of them are more valuable endowments than a skill in music, and excel this art in a higher degree than that player excels others, yet the best flutes ought to be given to him; for the superiority [1283a] in beauty and fortune should have a reference to the business in hand; but these have none.
So large, indeed, appear to be his natural endowments that we cannot feel as if even thirty volumes would have come near to exhausting them.
So complex and vast a plan could scarcely have been worked out by any human genius in a perfect and clear unity, and besides this, Spenser, with all his high endowments, was decidedly weak in constructive skill.
At the sight of the deep, circular folds of skin on the forehead, the sodden, fish-like eyes, and the head, with its short, coarse, scantily-growing hair--a head utterly divested of all the faculties of the senses--who would not have experienced, as Genestas did, an instinctive feeling of repulsion for a being that had neither the physical beauty of an animal nor the mental endowments of man, who was possessed of neither instinct nor reason, and who had never heard nor spoken any kind of articulate speech?