What is an endowment and what does it support?
An endowment fund is a pool of investments that underlie individual endowment accounts that support a wide variety of needs at the university. When a donor makes a gift to the university, those funds are invested in perpetuity (i.e., the original gift [capital] is invested and is not to be spent) and the income earned on these investments is allocated on an annual basis to support the designated beneficiary of the donor. These allocations support students through scholarships, bursaries and awards; they support faculties by funding operating and academic expenses; they support teaching through chairs and professorships; and they also support research, athletics, libraries, new buildings and other capital projects. Some donations are designated as unrestricted, allowing the university to use those funds in the areas that need it most. Whatever the cause, the endowment fund is an integral part of the university in terms of funding strategic priorities.
