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The perpetuity bit is, of course, always a work in progress – though building an endowment of around £1bn is certainly a strong foundation for the future.
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He is now considering building an endowment for it.
Leaders of the Geffen Playhouse have spoken for years about building an endowment, but the most recent recession has been a major setback for those plans. .
There is even some talk of building an alumni endowment, which is unusual for a European university.
"She was so committed to the idea of building a charitable endowment for the community".
Besides the renovations, the money will go toward building a larger endowment for Dia's programs in Manhattan.
"I am building a fantastic endowment that will keep Seuss going indefinitely," she says.
Prospective candidates looked at an institution that had dwindling enrollment, deteriorating buildings, a small operating budget and an endowment of less than $1 million and was in default on its loans.
Where the cardinal was more interested in ministering than in managing the business affairs of the enormous corporation that is the New York Archdiocese, Bishop Egan involved himself in everything from architectural plans for churches to building the endowment of the diocese.
(In comparison, the Mark Morris Dance Group, the only other modern-dance company in the New York City area with its own building, had a $5.1 million budget for fiscal 2007 and an endowment of $250,000).
Other plans include building four refineries, two petrochemical plants and a modern graduate-level university with an endowment of $10 billion.
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