Endowment

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Endowment

Gift of money or property to a specified institution for a specified purpose.

Endowment

1. Money or property that one or more donors leaves to an institution, especially a non-profit, with the expectation that it will be invested. That is, the institution invests its endowment and helps finance its activities with the profit from the investments. Examples of institutions that commonly have endowments are charities, scholarship funds, and universities.

2. A provision in some life insurance agreements whereby the insurance company pays the death benefit when the policyholder reaches a certain age. For example, rather than waiting for death to actually occur, the company may pay the death benefit when the policyholder turns 100 years old.

endowment

see FACTOR ENDOWMENT.
References in periodicals archive ?
French oil and gas company Total would be endowing in the shale gas industry in Britain.
Endowing plants with herbicide-tolerance genes might also help farmers control weeds in crops that would otherwise wither under weed-killing treatment.
By endowing scholarships, alumni and friends of the Stern community help the School to achieve educational excellence by promoting diversity in the student body.