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 ?
The grant, which will be made in the form of a Citigroup Foundation grant and distributed over a multi-year period, will endow professorships and student fellowships at CERGE-EI.
It was his work which gave rise to the study of a new subject, biochemistry, and inspired Sir Wiliam Dunn's trustees to endow the now world famous Sir William Dunn Institute of Biochemistry.
CBO Capital announcement depicted that the private equity endowment restricted fund was looking forward to mount $150 million from global and local institutional capitalists to endow in Small and Medium Enterprise, SME, firms in West Africa.