Funds or property that are donated with either a temporary or permanent restriction as to the use of principal. American Banker Glossary
————
Gift of money or property to a specified institution for a specified purpose. Bloomberg Financial Dictionary
* * *
to give a sum of money to a college, hospital etc in order to give it an income:
• He planned the museum and helped raise the $55 million to build and endow it.
— endowment noun [countable, uncountable] :
• King's School received generous new endowments.
* * *
endowment UK US /ɪnˈdaʊmənt/ noun
► [C or U] SOCIAL RESPONSIBILITY money that is given to a college, hospital, etc. in order to provide it with an income, or the giving of this money: an endowment for sth »
The Las Vegas millionaire pledged $10 million for the project and an endowment for the school.
»An endowment of $11.3 billion.
► [C] (also endowment assurance, endowment policy) INSURANCE a type of insurance in which you pay a regular amount of money over a particular period of time, or until you die, after which the insurance company pays an amount of money: »
We always aimed to ensure that customers understood that the eventual value of an endowment was not guaranteed.
»I was advised to take out an endowment.
► [C] PROPERTY an ENDOWMENT MORTGAGE(Cf. ↑endowment mortgage): »
He was unhappy about the way he had been sold a mortgage endowment.
Financial and business terms. 2012.