Legal Dictionary
Main Entry:
en·dow·mentFunction:
noun 1 : the act or process of endowing
2 : a result or product of endowing: as
a : the income of an institution derived from donations
endowment> b : the property (as a fund) donated to an institution or organization that is invested and producing income endowment to maintain the gallery>
3 : an endowed organization or institution : FOUNDATION endowment>
4 : ENDOWMENT INSURANCE