Brown University manages an endowment fund based in Providence, Rhode Island. The endowment consists of numerous individual funds established for a variety of purposes, including both donor-restricted endowment funds and funds designated by corporations to function as endowments. It aims at maintaining or enhancing the university's purchasing power and providing a stable spending stream to the university. Brown's long-term pool is managed by the Brown University Investment Office. The assets are managed by the board of trustees.