ENDOWMENT

[noun] [C]The school has received an endowment (= present) of £50 000 to buy new books for the library.(formal) There are tests that can establish a baby's genetic endowment (= what types of the chemicals that control its development it has received from its parents).An endowment mortgage is an arrangement in which you have an endowment policy which provides the money you need to pay back the amount that you have borrowed in order to buy a house.An endowment policy is an agreement where you pay money regularly so that you will receive a large agreed sum of money at an agreed later date or when you die.