endowment

Definitions (2)
Related Terms
1. Gift of money or income producing property to a public organization (such as a hospital or university) for a specific purpose (such as research or scholarships). Generally, the endowed asset is kept intact and only the income generated by it is consumed.
2. Aggregate of all positives (assets, abilities, capacities, qualities, etc.) that an individual starts out with.

Use 'endowment' in a Sentence

Many non-profit organizations set up endowments to sustain their fundraising efforts over a long period of time, as its principal balance remains intact and the interest generated from it is used for operating or fundraising purposes.
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As a very wealthy man, my father willed an endowment to the local community college specificly to be utilized by unwed mothers under the age of 18.
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The endowment to the arts program in the community made possible a wide variety of cultural arts programs and performances.
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