Institution

1. a large important organization that has a particular purpose, for example, a university or bank 2. a building where people with special needs are taken care of, for example because they are old or mentally ill 3. a custom or system that has existed for a long time among a particular group of people 4. the act of starting or introducing sth such as a system or a law 5. a person who is well known because they have been in a particular place or job for a long time