The phrase "venerable institution" refers to a respected and esteemed organization that has been established for a long time and is highly regarded in society. Full definition
The company expects to replicate some of Page One's success by tapping audiences fascinated by the inner - workings of venerable institutions. (deadline.com)
Wojnarowicz's work has been shown in such venerable institutions as The Museum of Modern Art and the Whitney Museum of American Art, where his work was included in the 1985 Whitney Biennial. (mcasd.org)
I decided not to go into practice but rather follow the academic pathway further and so completed two more years of subspecialty training at venerable institutions such as the University of Toronto and Harvard University. (sciencemag.org)