Endowment Fund Law and Legal Definition

According to 20 USCS § 1101a (Title 20, Education; Chapter 28, Higher Education Resources and Student Assistance; Developing Institutions; Hispanic-Serving Institutions), the term "endowment fund" means “a fund that--

(A) is established by State law, by a Hispanic-serving institution, or by a foundation that is exempt from Federal income taxation;

(B) is maintained for the purpose of generating income for the support of the institution; and

(C) does not include real estate.”