Endowment

“ At any rate, it’s best to lay the foundations of your kingdom with workers, the plainer the better. After that, a man can afford something in the ornamental line now and then. Now, I’ll send for Christina and tell her what luck she’s in. She hasn’t had her endowments yet, so you might as well go through those with her. Be at the endowment-house at five in the morning.”
And so it befell that Joel Rae, Elder after the Order of Melchisedek, and Christina Lund, spinster, native of Denmark, were on the following day, after the endowment-rites had been administered, married for time and eternity. ”

“ The Nonconformists object to endowments. They sometimes, I think, confound establishments with endowments. I think it absolutely essential that establishments should cease, and that there should be nothing in the way of endowment unless it be some small provision such as that which I have indicated; which it might be necessary to make when you are withdrawing certain things which the Churches in Ireland had supposed were theirs in perpetuity. ”

“ It is admitted however by all authorities that a person may hire himself for any time, even though it amount to servitude for life; but minors so hired may annul the contract on attaining majority.
Chapter X. OF ENDOWMENTS 1. An endowment signifies the appropriation of property to the service of God; when the right of the appropriator becomes divested, and the profits of the property so appropriated are devoted to the benefit of mankind.
2. An endowment is not a fit subject of sale, gift, or inheritance ”

“ During this term of three years, or as much thereof as may elapse before the acceptance or refusal of this donation, my executor shall invest the net produce of the land and other property; such invested fund awaiting the action of the legislature, and to form a part of the endowment of said institution if accepted, or to form a part of the endowment of the college or school hereinafter provided for, should the donation not be accepted by the State. ”

“ Some of us are not dependent on the temple for our endowment blessings, for we have received them under the hands of Joseph the Prophet, and know where to go to bestow the same on others. You may ask me whether the leaders of this Church have received all their endowment blessings. I think that we have got all that you can get in your probation, if you live to be the age of Methuselah; and {607} we can give what we possess to others who are worthy. 10:254.
A great many of you have had your endowments, and you know what a vote with uplifted hands means. ”

“ In truth, the endowment ought to have been granted at the Post Office before any other insurance, and had it been practicable, it should even have had precedence over the establishment of Post Office Savings Banks.
When a person wishes to become an "endowment" member of the society, the agent gives him a blank declaration paper, which he fills up with his name, age, occupation, residence, and the amount for which he wishes to join, and further states in writing the amount of the monthly contribution (for which he refers to the society's tables) , to be paid for the same. ”

“ These recent additions to the endowment of the institution will enable the trustees to enlarge its usefulness in many ways, and especially (being no longer dependent for annual income upon rents) to utilize the whole of the building for educational purposes. Yet the total endowment will still be modest, as compared with that of many similar institutions of later origin. ”

“ The objection I, at the moment, suggested to my informant was, that this was throwing on the existing generation, which provided the endowment, the cost of maintaining the orphans of succeeding generations; and that it would be better that each generation should do its own work. Of course this remark did not dispose of the question of the policy of this particular endowment, and still less of that of endowments generally. It may be wise, where the community is not rich, to place the maintenance of destitute orphans beyond the reach of chance. ”

“ We have shown that, by the offer of the small endowment of twenty thousand dollars, we can secure the establishment of one of these invaluable institutions, and make it a permanent source of measureless good—a most economical and wise expenditure of educational benefactions. ”

“ The complete story of the Red Cross Christmas stamp can be told only in the April Bulletin. Its remarkable success is a great satisfaction.
We trust our members will read the officer’s reports, the articles on the Endowment Fund and the First-Aid Text-Books. The next problem that our National Society has to meet, and must meet successfully, for it is still young enough to have no such word as “Fail” in its lexicon, is the raising of such an Endowment Fund as will put our Society on a permanent basis and make it the equal of the great societies of the other countries of the world. ”

“ The endowment should be such a one as would furnish a good school-house, a commodious residence for the head master—to enable him to keep boarders and produce an income of four or five hundred pounds. ”

“ And such are the common trials of the wage-paid classes that they are often pressed to encroach, and they do encroach, on the small sum they have been able to put into the bank. But in the case of the endowment the society will interpose. If the pressure is such that in the judgment of the board the endowment policy should be turned into cash before it is complete, the amount of contributions, with a trifling deduction, is returned. ”

“ Compare the endowment for the increase of intellectual wealth with any one of a thousand endowments for the increase of material wealth. Look at the hotels of your great cities. Some of them have cost more than the entire outlay in buildings for advanced instruction throughout whole States. ”

“ I proceed therefore to consider the method of endowment, or assigning dower, by the common law, which is now the only usual species. By the old law, grounded on the feodal exactions, a woman could not be endowed without a fine paid to the lord ”

“ Already it feels its need of permanent investments, and is asking for the beginning of an endowment. It calls for the personal service of some, and asks for the gifts of others who cannot offer themselves. ”

“ The following plan, I think, complies with all the requirements of the problem. By the proposed method every policy, at all stages of its existence, contributes its exact share to the expense fund, whatever its plan of payment may be.
Let us, as an illustration, examine the case of a ten year endowment policy, taken out at age 30, and consider it under three aspects, first, as paid for in advance by a single payment, second, as paid by five annual payments, and third, as paid for annually throughout the term. ”

“ In making its grants the Endowment will increase its emphasis on techniques which stimulate support for the humanities from non-Federal sources, in order to reinforce our tradition of private philanthropy in this field, and to insure and expand the financial viability of our cultural institutions and life. ”

“ The endowment of the corporation, was to be derived solely from the benefactions of those who might think proper to bestow them, and to this end the society was made capable to purchase and receive real estates, in fee, to a certain annual value, and also estates for life, and for years, and all manner of goods and chattels to any amount. ”

“ Charities which are entirely supported by State and permanent endowment are liable, as the experience of England shows, to run into a condition of routine and lifelessness. The old endowments of Great Britain are nests of abuses, and many of them are now being swept away. ”

“ Another form is denominated the Endowment Policy, in which the amount assured is payable when the party attains a certain age, or at death, should he die before reaching that age. This policy is rapidly gaining favor, as it provides for the man himself in old age, or for his family in case of his death. It is also fast becoming a favorite form of investment. We can show instances where the policy-holders have received a surplus above all they have paid to the company, with compound interest at six per cent, and no charge whatever for expenses or cost of insurance meanwhile. ”

“ In the bronze tablets recording respectively the declarations of estate-values in the communes of Ligures Baebiani (101 AD) and Veleia (103 AD) , made with the view of ascertaining the securities upon which the capital endowment was to be advanced, we have interesting details of this ingenious scheme for perpetuating charity. But neither these, nor some minor inscribed records of bequests, nor again the experience of Pliny the younger in a benefaction [1187] of the same kind, give us direct evidence on labour-questions. ”

“ In 1830 he executed a trust disposition, in which, after making some minor provisions, he devoted the residue of his estate to form an endowment ‘for the maintenance, education, and outfit of young people whose parents have either died without leaving sufficient funds for that purpose, or who from innocent misfortune during their own lives are unable to give suitable education to their own children.’ The trustees were invested with very ample powers as to the administration of the estate. ”

“ The task before us will be lightened if men of wealth, who wish to help the cause of education in this Presidency, will only remember that at the present moment an Endowment Fund, for meeting the general expenses of the University, is likely to be more useful than any addition to the endowment list of scholarships and prizes. ”

“ Contenting ourselves with the above examples, which could easily be multiplied, we pass on under this same head of general endowments to an interesting form of personal property, viz., cattle, for not only did the wardens derive receipts from parish holdings of real estate, but also from Endowments of Cows or Sheep. ”

“ It is a custom, it seems, for those admitted on any academical or ecclesiastical foundation as partakers of the endowment, to contribute themselves towards the fund, by paying a certain admission-fee, as it may be called, on entrance. ”

“ That if the Entire Reserve is a greater sum than the single premium required to carry the full amount of insurance to the end of the Endowment term, the Excess shall be issued as a single premium to purchase a pure Endowment, payable at the end of the term, thus guaranteeing to the Policy-holder in every event the full value of his Reserve. ”

“ It may be suggested that among other methods of putting the criticism of contemporary literature upon a better footing is one that might conceivably be made to pay its own expenses. There is so much room for endowments nowadays that where one can get at the purse of the general public one should certainly prefer it to that of the generous but overtaxed donor. The project would require a strong endowment, but that endowment might be of the nature of a guarantee fund, and might in the end return unimpaired to the lender. ”

“ But under the guidance of the authors of the Minority Report we have travelled far beyond old age pensions, and now practically anyone who comes within the income-tax limit is qualified for some form of State endowment, either for themselves or for their dependents. ”

“ The trustees shall securely invest the funds hereinafter provided and given to said institution and hold them as a perpetual endowment, and shall only use the interest derived therefrom and the income of the land to support and maintain said school or college, except that the accumulated fund derived from the land, and the interest derived from the fund hereinafter given said institution, from the time of my death, and as much as five thousand dollars of the principal fund, may be used if, in the judgment of trustees, it may be necessary to erect suitable buildings for said school or college. ”

“ A number of academies, scattered over every state, should be placed on a respectable and permanent foundation, by a competent pecuniary endowment. This subject has not been overlooked by the legislatures of the respective states. ”

“ Future Incomes More or Less Fixed usually Needed.—Recent writers have called attention to the fact that in many cases saving has the providing of a definite future income in view. The owner of a landed estate, who intends to leave it to a son, may try to provide from his rents an endowment which will save from want or from an unhappy approach to want his daughters and his younger sons. He might accomplish this, indeed, without any present saving by putting rent charges or mortgages upon his land, but that would trench on the income which his heir can derive from it. ”

“ In the trust deed it is provided that the three per cent interest on cost, received from tenants, shall be invested in an endowment fund, payable, with its accumulations, to the tenant whenever he leaves the building, or to his widow or legal representative in the event of his death while a tenant. ”

“ In the greater part of the institutions whose endowments are sufficient for their objects this is little more than a nominal payment, a sort of ceremonial acknowledgment, trifling in amount: but in less amply endowed societies it is something considerable; in those whose common funds are still smaller, it is more; and in some,—chiefly such as are in their infancy,—a man has to pay, on being admitted a fellow, an associate, a pastor, or whatever it may be, of one of these colleges, or churches, &c. ”