Finances.

For many years the Institute was financed by contributions from its participants.Since the turn of the century，it has gradually built up an endowment^[10]from gifts，awards，and bequests^[11]，most notably the Nobel Peace Prize funds of 1904 and grants from the Carnegie Endowment for International Peace.(https://www.daowen.com)

To manage the endowment funds，the Institute in 1947 created，under Swiss law，its Auxiliary Foundation，with headquarters in Lausanne.The funds，derived from the Foundation and administered by the treasurer，are used to reimburse^[12]members and associates for travel expenses incurred by attendance at the sessions，to defray organizational costs of the sessions，and to pay for the publication of the Yearbook.