funny farm vs institution

funny farm and institution both are nouns.

Word	Noun	Adjective	Verb	Adverb
funny farm	Yes	No	No	No
institution	Yes	No	No	No

As nouns, institution is a hypernym of funny farm; that is, institution is a word with a broader meaning than funny farm:

funny farm (noun)	institution (noun)
pejorative terms for an insane asylum	the act of starting something for the first time; introducing something new
	an establishment consisting of a building or complex of buildings where an organization for the promotion of some cause is situated
	a hospital for mentally incompetent or unbalanced person
	a custom that for a long time has been an important feature of some group or society
	an organization founded and united for a specific purpose