endowment


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Related to endowment: endowment fund, Endowment policy

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 ?
What I saw in him -- as evidently as the indestructible ramparts of Old Ticonderoga, already cited as the most appropriate simile -- was the features of stubborn and ponderous endurance, which might well have amounted to obstinacy in his earlier days; of integrity, that, like most of his other endowments, lay in a somewhat heavy mass, and was just as unmalleable or unmanageable as a ton of iron ore; and of benevolence which, fiercely as he led the bayonets on at Chippewa or Fort Erie, I take to be of quite as genuine a stamp as what actuates any or all the polemical philanthropists of the age.
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.
Many hours of work were required, however, in spite of his unusual high endowment of intelligence.
The founding of a library or endowment of a university is said to
Distinction between the sterility of first crosses and of hybrids -- Sterility various in degree, not universal, affected by close interbreeding, removed by domestication -- Laws governing the sterility of hybrids -- Sterility not a special endowment, but incidental on other differences -- Causes of the sterility of first crosses and of hybrids -- Parallelism between the effects of changed conditions of life and crossing -- Fertility of varieties when crossed and of their mongrel offspring not universal -- Hybrids and mongrels compared independently of their fertility -- Summary.
Richardson, then, must on the whole be called the first of the great English novelists--a striking case of a man in whom one special endowment proved much weightier than a large number of absurdities and littlenesses.
The documents too from which the doctrine is to be drawn, charmed my fancy by their endless variety, and lay always before me, even in sleep; for they are the tools in our hands, the bread in our basket, the transactions of the street, the farm and the dwelling-house; greetings, relations, debts and credits, the influence of character, the nature and endowment of all men.
In this contention, nature may seem to some to have come off victorious, as she bestowed on him many gifts, while fortune had only one gift in her power; but in pouring forth this, she was so very profuse, that others perhaps may think this single endowment to have been more than equivalent to all the various blessings which he enjoyed from nature.
You," continued Aunt Ablewhite, turning on me in my corner with another endowment of energy, in her looks this time instead of her limbs--"you are the mischievous person who irritated him.
Married yesterday -- that's what those flags are for on the Endowment House.
They had recently seen a chosen army from that country, which, reverencing as a mother, they had blindly believed invincible--an army led by a chief who had been selected from a crowd of trained warriors, for his rare military endowments, disgracefully routed by a handful of French and Indians, and only saved from annihilation by the coolness and spirit of a Virginian boy, whose riper fame has since diffused itself, with the steady influence of moral truth, to the uttermost confines of Christendom.
As one of its effects, it bestowed on his countenance a quicker mobility than the old Englishman's had possessed, and keener vivacity, but at the expense of a sturdier something, on which these acute endowments seemed to act like dissolving acids.