styrktarsjóðum
Styrktarsjóðum, often translated as support funds or endowment funds, are a common financial and organizational mechanism in many countries, particularly in Iceland where the term is frequently used. These funds are typically established with the intention of providing long-term financial support for a specific purpose, such as a charity, an educational institution, a research project, or a cultural organization. The core principle behind a styrktarsjóð is that the initial capital, or endowment, is invested, and the income generated from these investments is then used to fund the designated activities. The principal amount is generally intended to remain intact, ensuring a perpetual source of funding.
The establishment of a styrktarsjóð can be done by individuals, families, corporations, or foundations. Donors contribute