en·dow·ment n
1: the act or process of endowing
2: a result or product of endowing: as
a: the income of an institution derived from donations
the university's ability to attract endowment
b: the property (as a fund) donated to an institution or organization that is invested and producing income
an endowment to maintain the gallery
3: an endowed organization or institution: foundation
chairwoman of the state's arts endowment
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.