endowment Hear it!

endowment definition - finance
A donation of money, stock, or property that is given to a non-profit organization, or the total assets that a nonprofit organization has invested. Usually funds given to endowments are significant. An endowment may be used to fund capital improvements or build new buildings, or it may be used to fund special programs or ongoing expenses. Often people leave money for an endowment in their will.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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