Karsten golf couse was endowed ...


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Posted by mDEVIL! on August 05, 20 at 16:30:14:

In Reply to: Endowments Usage posted by Oldtimer on August 05, 20 at 14:52:35:

... and is no more, though I think they got permission from the donors.

Some endowment funds are not earmarked, mostly the aggregation of a number of smaller donations, and earnings from endowment investments on many of them, which over time generally dwarf the original investment with the miracle of compounded returns, which grow on a logarithmic slope. Most of the big ones come with requirements.




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