If you desire to set up an endowment for the University but would like to manage the endowment assets on your own or are unable to make an outright gift, you can still establish a currently operating endowed scholarship or endowed chair by using a "flexible endowment." By actually funding an endowment over a period of time or by bequest, you can see the operation and benefit of a fully-funded endowment during your lifetime. You establish a flexible endowment by committing to make future gifts to build the principal of the
endowment. Until the endowment is funded completely, you also commit to give annual expendable gifts for the current purposes of the endowment equal to the income which would be generated by a fully funded endowment. As the principal builds and generates endowment income, that endowment income can offset the amount that you are required to give each year for the current use. Your commitment would be secured by an irrevocable bequest, a pledge of paid-up life insurance or a designation of the remainder interest in a charitable remainder trust, farm or personal residence.

Benefits of a Flexible Endowment

• Establish an operating endowment which provides current benefit to Benedictine students
• Fund the principal of the endowment at a later date