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An endowment policy is a life insurance contract designed to pay a lump sum after a specific term (on its 'maturity') or on death. [1] [2] These are long-term policies, often designed to repay a mortgage loan, with typical maturities between ten and thirty years within certain age limits.
A key provision of UPMIFA states that: "Subject to the intent of a donor expressed in the gift instrument an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for the uses, benefits, purposes, and duration for which the endowment fund is established. [7]
Engraving of Harvard College by Paul Revere, 1767. Harvard University's endowment was valued at $53.2 billion as of 2021. [1]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. [2]
MNF additionally holds valuable property in Dodoma, where it is working to establish a Leadership University. This initiative aims to nurture a new generation of high-caliber leaders equipped to shape Africa’s future. The goal of the Endowment Fund is to provide MNF with the financial autonomy and independence necessary to fulfill its mission.
A typical requirement is similar to matching funds where funds must be raised or acquired from other sources following a stated matching factor, often 2:1, 3:1 or 4:1. For example, a $1,000 challenge grant with a 3:1 match would require the recipient to raise $3,000 before they would receive the $1,000 grant.
The endowment totaled $78.8 million, as of June 30, NFA Foundation Executive Director Kathy McCarthy told corporators and trustees Thursday at Slater Auditorium.
Financial endowment, pertaining to funds or property donated to institutions or individuals (e.g., college endowment) Endowment mortgage, a mortgage to be repaid by an endowment policy; Endowment policy, a type of life insurance policy; A synonym for budget constraint, the total funds available for spending
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