Is Texting Right Now
- Aug 24, 2007
- Reaction score
uh, what?Add "endowments" to the list of things this idiot doesn't understand.
I don't know the details about the situation in the Pac12 he's referencing, but an endowment is used as an investment. If he gives $2 million to the school and designates it to be used ONLY for the Business School, but no other stipulations, the school can invest that $2 million and use the investment income any way they see fit. The principle can only be used within the School of Business, but all other earned revenues can be used at the University's discretion.