College and University Endowments
Academic institutions, such as colleges and universities, will frequently control an endowment fund that finances a portion of the operating or capital requirements of the institution. In addition to a general endowment fund, each university may also control a number of restricted endowments that are intended to fund specific areas within the institution. The most common examples are endowed professorships (also known as named chairs), and endowed scholarships or fellowships.
In the United States, the endowment is often integral to the financial health of educational institutions. Alumni or friends of institution sometimes contribute capital to the endowment. The endowment funding culture is strong in the United States and Canada but less pronounced overseas, with the exceptions of Cambridge and Oxford universities. Endowment funds have also been created to support secondary and elementary school districts in several states in the United States.
Read more about this topic: Financial Endowment
Famous quotes containing the words college and, college, university and/or endowments:
“A whale-ship was my Yale College and my Harvard.”
—Herman Melville (1819–1891)
“Here was a place where nothing was crystallized. There were no traditions, no customs, no college songs .... There were no rules and regulations. All would have to be thought of, planned, built up, created—what a magnificent opportunity!”
—Mabel Smith Douglass (1877–1933)
“In bourgeois society, the French and the industrial revolution transformed the authorization of political space. The political revolution put an end to the formalized hierarchy of the ancien regimé.... Concurrently, the industrial revolution subverted the social hierarchy upon which the old political space was based. It transformed the experience of society from one of vertical hierarchy to one of horizontal class stratification.”
—Donald M. Lowe, U.S. historian, educator. History of Bourgeois Perception, ch. 4, University of Chicago Press (1982)
“Women generally should be taught that the rough life men must needs lead, in order to be healthy, useful and manly men, would preclude the possibility of a great degree of physical perfection, especially in color. It is not a bad reflection to know that in all probability the human animal has endowments enough without aspiring to be the beauty of all creation as well as the ruler.”
—Caroline Nichols Churchill (1833–?)