Can that money be used for anything?
In: 1
An endowment is money that is nvested but not directly used.
It is then the returns from those investments that an organization will use. This could be a simple as buying a bunch of government bonds (which pay interest) to more complex and potentially risky investments.
That said actually dipping into that money directly and reducing the size of the endowment is often a very bad sign. Since most organizations with an endowment are supposed to exist for as long as possible.
So to answer your question “can that money be used for anything”
Yes, it’s used to make more money.
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