- published: 16 Aug 2010
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A financial endowment is a transfer of money or property donated to an institution. The total value of an institution's investments is often referred to as the institution's endowment and is typically organized as a public charity, private foundation, or trust.
Among the institutions that commonly manage an endowment are: academic institutions (e.g., colleges, universities, private schools), cultural institutions (e.g., museums, libraries, theaters, hospitals) and religious establishments.
An endowment may come with stipulations regarding its usage. In some circumstances an endowment may be required to be spent in a certain way or alternatively invested, with the principal to remain intact in perpetuity or for a defined time period. This allows for the donation to have an impact over a longer period of time than if it were spent all at once.
Academic institutions, such as colleges and universities, will frequently control an endowment fund that finances a portion of the operating or capital requirements of the institution. In addition to a general endowment fund, each university may also control a number of restricted endowments that are intended to fund specific areas within the institution. The most common examples are endowed professorships (also known as named chairs), and endowed scholarships or fellowships.
Calvin Cordozar Broadus, Jr. (born October 20, 1971), better known by his stage name Snoop Dogg (formerly known as Snoop Doggy Dogg), is an American rapper, record producer, and actor. Snoop is best known as a rapper in the West Coast hip hop scene, and for being one of Dr. Dre's most notable protégés. Snoop Dogg was a Crip gang member while in high school. Shortly after graduation, he was arrested for cocaine possession and spent six months in Wayside County Jail. His music career began in 1992 after his release when he was discovered by Dr. Dre. He collaborated on several tracks on Dre's solo debut, The Chronic and on the titular theme song to the film Deep Cover.
Snoop's debut album Doggystyle, was released in 1993 under Death Row Records making a debut at No.1 on both the Billboard 200 and R&B charts. Selling almost a million copies in the first week of its release, Doggystyle quickly became certified 4× platinum in 1994 and spawned several hit singles, including "What's My Name" and "Gin & Juice". In 1994, Snoop released a soundtrack on Death Row Records for the short film Murder Was The Case, starring himself. In early 1996, Snoop Dogg was cleared of charges over his bodyguard's 1993 murder of Philip Woldemariam. His second album, late 1996's Tha Doggfather, also debuted at No.1 on both charts with "Snoop's Upside Ya Head" as the lead single. The album sold only half as well, being certified double platinum in 1997.