A financial endowment is a legal structure for managing, and in many cases indefinitely perpetuating, a pool of financial, real estate, or other investments for a specific purpose according to the will of its founders and donors. Endowments are often structured so that the inflation-adjusted principal or "corpus" value is kept intact, while a portion of the fund can be spent each year, utilizing a prudent spending policy.
Engraving of Harvard College by Paul Revere, 1767. Harvard University's endowment was valued at $53.2 billion as of 2021[update].
The Bill and Melinda Gates Foundation headquarters complex in Seattle as seen from the Space Needle
Marcus Aurelius, the Stoic Roman emperor who created the first endowed chair professorships
Ford Foundation Building in New York. In 2014, The Ford Foundation reported assets of US$12.4 billion and approved US$507.9 million in grants.
A foundation is a type of nonprofit organization or charitable trust that usually provides funding and support to other charitable organizations through grants, while also potentially participating directly in charitable activities. Foundations encompass public charitable foundations, like community foundations, and private foundations, which are often endowed by an individual or family. Nevertheless, the term "foundation" might also be adopted by organizations not primarily engaged in public grantmaking.
Chart of a foundation