What is an endowment?
An endowment creates financial stability, allowing an institution to be less dependent on unpredictable sources of revenue, such as research sponsorship or government aid.
A named endowment is created through the establishment of a permanent fund that is professionally invested and managed. The income generated is used to carry out the endowment's stated purposes – the mutual goals of a donor and the university.
An endowment is awarded once the principal reaches the minimum required funding level and after the funds have been invested one full year. If the donor, family member or other interested persons contribute beyond the minimum funding level, additional awards are made possible.
A minimum of $25,000 can establish an endowment fund at NMU.