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people have started using the word "endowment" against colleges like it's a term for slush fund.
by dvrj101 1y ago
people have started using the word "endowment" against colleges like it's a term for slush fund.
- natebc 1y agoindeed they have. In reality they're like complicated heterogeneous investment funds with untold numbers of varying restrictions governing them. They're not just a pile of gold coins in the university presidents basement.
- tetromino_ 1y agoIndeed. Everything is earmarked, occasionally even earmarked in a way that the university cannot use the at all (e.g. something like a donation "to pay for an earnest white Christian man to teach phrenology").