Source : Webster's Revised Unabridged Dictionary (1913)

Stipend \Sti"pend\, n. [L. stipendium; stips, gen. stipis, a
   gift, donation, given in small coin + pendere to weigh or pay
   out.]
   Settled pay or compensation for services, whether paid daily,
   monthly, or annually.

Stipend \Sti"pend\, v. t.
   To pay by settled wages. [R.]

Source : WordNet®

stipend
     n : a sum of money allotted on a regular basis; usually for some
         specific purpose