What Good is Endowment?

I recently had a Zoom call with a client couple. He is a lawyer and she is the local head of a national non-profit. Our client calls typically start by out asking about health, the family, and career highlights. In this Covid era environment, updates in these areas have taken on an elevated concern. Working from home has been easier for some than others. When I asked her about her current career experience, what stood out was her gratitude that her position was not ever in jeopardy. This is because the non-profit has accumulated a substantial endowment over the years. This has allowed the staff to remain employed and to continue their important work. I have often thought that a worthwhile goal for non-profits is to build an endowment to the point that operations could be covered from that income and that fundraising could then be devoted to special projects. That would be a worthwhile goal for any endowment.