[OutsiderFan]

The endowment is a lump sum of money that will be invested with the idea the annual return on the fund will pay for whatever the expense is for the endowed position.  The thinking is that if the position is endowed, the school itself doesn't have to worry about covering the cost of the position out of revenues or from other donations.  Many schools endow the scholarships that are offered to athletes as well.  I've not heard if Stanford's football scholarships are endowed or not.  I assume they are to some degree.

[OutsiderFan]

The endowment is a lump sum of money that will be invested with the idea the annual return on the fund will pay for whatever the expense is for the endowed position.  The thinking is that if the position is endowed, the school itself doesn't have to worry about covering the cost of the position out of revenues or from other donations.  Many schools endow the scholarships that are offered to athletes as well.  I've not heard if Stanford's football scholarships are endowed or not.  I assume they are to some degree.