Endowment income is derived from the sale of land, timber sales, land rentals, cottage site rentals, grazing rentals and mineral extraction from lands granted to the State of Idaho by the Congress of the United States. In accordance with Idaho Code, these funds are perpetually appropriated and set apart for the support and maintenance of the beneficiaries.
Beneficiaries are as follows:
- Public School Fund, K-12 Education
- Agricultural College Fund, University of Idaho
- Charitable Institutions Fund, Idaho State University, State Juvenile Corrections Center, School for the Deaf and Blind, Idaho Veterans Home, and State Hospital North
- Normal School Fund* Idaho State University Department of Education and Lewis-Clark State College
- Penitentiary Fund
- School of Science Fund, University of Idaho
- State Hospital South Fund
- University Fund, University of Idaho
- Capitol Permanent Fund
All nine endowment funds are pooled for investment purposes.
* A school that trains elementary teachers, so named from the French école normale because the first such school was intended as a model. Lewis-Clark State College was one of the last schools in the United States designated as a “normal school”.