What is endowment ?
When you create a charitable fund through The Guelph Community Foundation, you have the opportunity to benefit the community forever with a permanent endowment. Your original gift is invested and earnings from your fund are granted out to the community. Your gift – and all future earnings from your gift – is a permanent source of community capital, helping do good work today and in the future.
  
legal dictionary: endowment [en-dou-muh nt]?
1: the act or process of endowing
2: a result or product of endowing: a) the income of an institution derived from donations endowment; b)the property (as a fund) donated to an institution or organization that is invested and producing income endowment to maintain the gallery
3: an endowed organization or institution; FOUNDATION endowment