ENDOWMENT
Фонд целевого капитала – механизм, который создается при некоммерческих организациях, чтобы финансировать их деятельность. При этом он не тратит собранные средства сразу, а отдает их в доверительное управление и пользуется лишь процентами, полученными от управления активами.

An endowment is a donation of money or property to a non-profit organization, which uses the resulting investment income for a specific purpose. An endowment can also refer to the total of a non-profit institution’s investable assets, also known as principal or corpus, which is meant to be used for operations or programs that are consistent with the wishes of the donor. Most endowments are designed to keep the principal amount intact while using the investment income for charitable efforts.
Most endowments have guidelines stating how much of each year’s investment income can be spent.

Traditionally, endowments seek investments that are are considered highly profitable as means to grow their endowment.

The oldest endowments still active today were established by King Henry VIII and his relatives.