In response, last July the Legislature approved a cultural trust fund to help arts and history groups build endowments, make capital improvements and otherwise beef up their finances.
Although he has never been able to make any endowments or other financial contributions, he hopes this will aid them, and he is willing to send many more along.
And gifts for capital purposes — those made to endowments or for property or buildings — dropped 25 percent.
In New Zealand's early colonial period, between 1840 and 1852, certain provisions were made for endowments for religious and educational purposes, but education was considered, in accordance with prevailing views in England, a private or voluntary matter.
Chambers wrote, in relation to the stained glass, "the situation of Malvern was so much admired by Henry VII, his Queen (Elizabeth of York) and their two Sons, Prince Arthur, and Prince Henry" that they made substantial endowments.
Jainism, though in decline during the late medieval period, also enjoyed the patronage of the Mysore kings, who made munificent endowments to the Jain monastic order at the town of Shravanabelagola.
Universities that have many times their annual budgets in their endowments make the same argument.
However, British universities lack the generous endowments make the American system of bursaries possible.
Typically managers at schools with large endowments make in the high six figures.
I think it's also important to remember that one year does not a track record make, and these endowments have extraordinary long-term returns.
