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Denna sidan visar ordspråk som liknar "It is certainly the case that the vast majority of endowment funds are restricted for very particular purposes by the donor, so those are not generally discretionary. I think there is a common misconception that that might not be the case. I think colleges and universities very much value endowment gifts because it provides assurance that there will be long-term support that will not be subject to short-term vagaries or cash flows.".