Many of the sessions identified specific areas for additional attention, ranging from concrete steps toward generating endowment income through to the integration of a marketing strategy.
Whereas coffee mugs generate an endowment effect, tokens that can be exchanged for coffee mugs do not.
The 1,300 crypts and 5,000 niches for cremated remains are expected to generate an endowment to pay for the cathedral's upkeep and operating expenses.
The costs are substantial and stand to have real financial impacts on the returns generated by endowment funds".
"They love to support a glamorous exhibition and highly targeted educational programs, which means every museum is desperate to build an endowment or generate revenue to cover the unglamorous stuff," like wiring, air-conditioning and general operating expenses.
Called virtual or flexible endowments, they enable donors to hold onto their fortunes during their lifetimes while providing their causes with the same annual cash that an actual endowment would generate.
Still, the governor is confident the endowment could generate hundreds of millions of dollars a year for New York's state and city universities and help pay for initiatives like a Spitzer plan to hire 2,000 new professors.
The funds that will be produced from the Crystal Bridges endowment "will generate many times the amount actually needed to maintain the gallery, support the Collection and provide for art education," Ms. O'Leary said, adding that she planned to consult with her board and Fisk's lawyers about how to proceed.
And human capital, like any other resource endowment, will generate returns in the right settings -- and otherwise lie dormant.
The Yale endowment generated 20.2% in returns in fiscal 2014, far outpacing most endowments, and has gained 11% every year for the past 10 years.
