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On rebuffing Joseph Seligman in 1877, the Trustees established one of their guiding principles governing the receipt of gifts, "That in the future no Endowment of Professorships will be accepted by the (Cornell Universityy which deprives the Board of Trustees of the power to Select The persons who shall fill such professorships".
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The menagerie is operated by the city, and, unlike Bronx Park Zoo has no endowment for the purchase of animals.
And with an endowment of over $22 billion, Harvard University is no longer as abjectly grateful to its donors as it had once been.
Rand Castile, a former director of the Japan Society Gallery in New York and of the Asian Art Museum in San Francisco, said that generally "the new Japanese museums have no endowments to speak of and no assured government support".
Even now, the community arts school, which for more than 35 years has helped tens of thousands of children receive arts training, faces a debt of $2 million with no endowment, a fraction of its former attendance and only 2 of its 32 pianos in good condition.
Cambridge is the leading research university in Britain and has an endowment of nearly £1.5 billion, leaving it with no need to seek immediate savings.
The Bill and Melinda Gates Foundation has an endowment of $43.5bn.
It now has an endowment of more than $400 million.
His foundation, with an endowment of $280 million, embraces both terms.
But it has an endowment of $31 million and a budget of $5.5 million.
The foundation has an endowment of $35.6 billion, according to its own figures.
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CEO of Professional Science Editing for Scientists @ prosciediting.com