Asked by Boston Bragg on May 27, 2024
Verified
Endowment funds are held by ________.
A) financial intermediaries
B) individuals
C) profit-oriented firms
D) nonprofit institutions
Endowment Funds
Funds that are established by donations with the intent that the principal amount is kept intact while the investment income is available for use.
Nonprofit Institutions
Organizations that operate for the collective public or social benefit instead of generating profit for owners or investors.
- Comprehend the legal and fiscal structures involved in trusts and estate planning.
Verified Answer
VA
Valissa AbadiaMay 29, 2024
Final Answer :
D
Explanation :
Endowment funds are held by nonprofit institutions such as universities, hospitals, and other charitable organizations. These funds are typically used to provide ongoing financial support for the institution's mission and programs.
Learning Objectives
- Comprehend the legal and fiscal structures involved in trusts and estate planning.