institution
n. countablen. a large, important organization like a university, bank, or hospital. It can also mean a long-standing custom or tradition that is a central part of a society.
n. an established organization or corporation, especially one of a public character; alternatively, a significant practice, relationship, or organization in a society or culture.
The local hospital is a respected institution in our city.
The university is a prestigious institution that has educated many of the country's top scientists and leaders.
Scholars argue that the institution of marriage has undergone more radical transformations in the last fifty years than in the previous five centuries combined.
From Middle English institucioun, from Old French institution, from Latin institūtiō, from instituō (“to set up”), from in- (“in, on”) + statuō (“to set up, establish”). Equivalent to institute + -ion.
Often used with the definite article 'the' when referring to a specific organization or a social concept.