The Bradford Academy and Graded School District is hereby empowered to receive any endowment, fund, or legacy in fee or in trust that may be devoted as an endowment toward the support or for the use of the Academy and Graded School on such terms and conditions as may be prescribed by the donor or legator, not inconsistent with the laws of this State; and the trustees of the Academy and Graded School shall be the custodians of such fund and of the income of the same, subject to the instructions of the District in regard to the use of the fund or income, unless otherwise provided by the terms of the endowment, donation, or legacy.