institution
Pronunciation:
/ˌɪnstɪˈtjuːʃən//ˌɪnstɪˈtuːʃən/noun
Definitions
A custom or practice of a society or community.
An organization similarly long established and respected, particularly one involved with education, public service, or charity work.
The building or buildings which house such an organization.
Example: He's been in an institution since the crash.
Other places or businesses similarly long established and respected.
Example: Over time, the local pub has become something of an institution.