Institution

[in-sti-too-shuh n, -tyoo-] /ˌɪn stɪˈtu ʃən, -ˈtyu-/

noun
1.
an organization, establishment, foundation, society, or the like, devoted to the promotion of a particular cause or program, especially one of a public, educational, or charitable character:
This college is the best institution of its kind.
2.
the building devoted to such work.
3.
a public or private place for the care or confinement of inmates, especially mental patients or other persons with physical or mental disabilities.
4.
Sociology. a well-established and structured pattern of behavior or of relationships that is accepted as a fundamental part of a culture, as marriage:
the institution of the family.
5.
any established law, custom, etc.
6.
any familiar, long-established person, thing, or practice; fixture.
7.
the act of instituting or setting up; establishment:
the institution of laws.
8.
Ecclesiastical.

/ˌɪnstɪˈtjuːʃən/
noun
1.
the act of instituting
2.
an organization or establishment founded for a specific purpose, such as a hospital, church, company, or college
3.
the building where such an organization is situated
4.
an established custom, law, or relationship in a society or community
5.
Also called institutional investor. a large organization, such as an insurance company, bank, or pension fund, that has substantial sums to invest on a stock exchange
6.
(informal) a constant feature or practice: Jones’ drink at the bar was an institution
7.
the appointment or admission of an incumbent to an ecclesiastical office or pastoral charge
8.
(Christian theol) the creation of a sacrament by Christ, esp the Eucharist
n.

c.1400, “action of establishing or founding (a system of government, a religious order, etc.),” from Old French institucion “foundation; thing established,” from Latin institutionem (nominative institutio) “disposition, arrangement; instruction, education,” noun of state from institutus (see institute). Meaning “established law or practice” is from 1550s. Meaning “establishment or organization for the promotion of some charity” is from 1707.