An endowment is a permanent fund of property or money established to benefit an institution or person. It has a specific defined purpose for which the income derived from the money or property is to be applied. In an endowment fund, the principal is invested, and a portion of the investment earnings is spent. The rest of the earnings are directed back into the fund so that the endowment grows over time. In this manner, the endowment becomes a perpetual source of funding for whatever the donor wishes to achieve.
Restricted Endowment to Educational, Religious, or Charitable Institution I, (Name of Donor), of (street address, city, state, zip code), hereinafter called the Donor, desire and intend to make a gift of a certain part of my property. To that end, I now give, transfer, and deliver to (Name of Educational, Religious, or Charitable Institution), a nonprofit corporation organized and existing under the laws of the state of ______________, with its principal office located at (street address, city, state, zip code), referred to herein as Donee), $____________, together with property described as follows: (description of property), to be invested, sold, or reinvested, alone or in combination with other funds of Donee by the Trustees of Donee as they see fit. Income from this sum is to be used exclusively for (describe restricted pur
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