Students benefit from endowment gifts from previous generations. The New School of tomorrow is being created by the gifts of today. The university's endowment is the institution's invested capital that generates funds to be used, in perpetuity, to support the institution and its students, faculty, facilities, and programs.
Unrestricted endowment earnings support the general operating budget or the greatest needs of a particular division, if so specified. Other endowment funds support scholarships, professorships, awards, book funds, or programs, as specified by donors. An endowed scholarship or fellowship is a permanent tribute to the person whose name it bears and can always be augmented. Scholarships provide opportunities otherwise unavailable to deserving students. Endowment income provides a hedge against downturns in the economy, federal and state budget cuts, fluctuations in the political climate, and other changes.