The Ivy League is an athletic conference comprising eight private institutions of higher education in the Northeastern United States. The term is most commonly used to refer to those eight schools considered as a group. The term is also connected with academic excellence, selectivity in admissions, and social elitism . The term became official, especially in sports terminology, after the formation of the NCAA Division I athletic conference in 1954, when much of the nation polarized around favorite college teams. "IV" was used because originally the league consisted only of four members. The use of the phrase is no longer limited to athletics, and now represents an educational philosophy inherent to ( ,)the nation's oldest schools. In addition, Ivy League schools are often viewed by the public as some of the most prestigious  universities worldwide and are often ranked amongst the best universities in the United States and worldwide. The eight institutions are Brown University, Columbia University, Cornell University, Dartmouth College, Harvard University, Princeton University, the University of Pennsylvania, and Yale University. All of the Ivy League's institutions place near the top in theU.S. News & World Reportcollege and university rankings and rank within the top one percent of the world's academic institutions in terms of financial endowment . Seven of the eight schools were founded during America's colonial period; the exception is Cornell, which was founded in 1865. Ivy League institutions, therefore, account for seven of the nine Colonial Colleges chartered before the American Revolution. The Ivies are all in the Northeast geographic region of the United States. All eight schools receive millions of dollars in research grants and other subsidies from federal and state government. Undergraduate enrollments among the Ivy League schools range from about 4,000 to 14,000, making them larger than those of a typical private liberal arts college and smaller than a typical public state university. Ivy League university financial endowments range from Brown's $2.01 billion to Harvard's $26 billion, the largest financial endowment of any academic institution in the world. From the passage, we know the word "Ivy" in "the Ivy League" was first chosen to refer to   _  .
a plant a number a sport a spirit