The University of Mount Olive Foundation

EIN: 200371529 501(c)(3) Education

MOUNT OLIVE, NC

Total Revenue
$948,904
Total Expenses
$895,216
Total Assets
$8,792,705
Net Assets
$-3,155,569
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2003
Legal Domicile
NC
Principal Officer
KENNETH BUCHANAN
Phone
9196582502
Tax Period
2022-07-01 to 2023-06-30

The University of Mount Olive Foundation, founded in 2003, is a small nonprofit in the Education sector that reported $949K in total revenue in fiscal year 2022. Expenses of $895K left a modest 6% surplus.

Mission

THE PURPOSE OF THIS NONPROFIT FOUNDATION IS TO SEEK ALTERNATIVE SOURCES OF SUPPORT TO STRENGTHEN THE UNIVERSITY OF MOUNT OLIVE'S OUTREACH TO STUDENTS AND THE COMMUNITY.

Program Service Accomplishments

Program 1
Expenses: $895,216 Revenue: $948,660

HOLD CERTAIN REAL ESTATE USED BY THE UNIVERSITY OF MOUNT OLIVE INC IN CARRYING OUT ITS EXEMPT PURPOSE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $948,660
Investment Income $244
Other Revenue $0
TOTAL REVENUE $948,904

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $895,216
Other Expenses $895,216
TOTAL EXPENSES $895,216

Year-over-Year Comparison

2022 2021 Change
Revenue $948,904 $958,940 0.0%
Expenses $895,216 $908,843 0.0%
Net Income $53,688 $50,097 +0.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Governance

Voting Members
16
Independent Members
15
Employees
N/A
Volunteers
16

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$197,377
Total Directors
16
$287,284
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
H EDWARD CROOM BOARD MEMBER 1.0
Director
$0 $33,134 $287,284
KENNETH BUCHANAN ASSISTANT TREASURER 1.0
Officer
$0 $38,166 $197,377
I RAY MCDONALD JR CHAIRPERSON 1.0
Officer Director
$0 $0 $0
WILLIAM H BRYAN TREASURER 1.0
Officer Director
$0 $0 $0
DEAN ROUSE VICE CHAIRPERSON 1.0
Officer Director
$0 $0 $0
DR J WILLIAM BYRD BOARD MEMBER 1.0
Director
$0 $0 $0
ED CROMARTIE BOARD MEMBER 1.0
Director
$0 $0 $0
WENDY CRUMPLER BOARD MEMBER 1.0
Director
$0 $0 $0
ROGER B DAVIS SR BOARD MEMBER 1.0
Director
$0 $0 $0
OLIVIA B HOLDING BOARD MEMBER 1.0
Director
$0 $0 $0
BILLY KORNEGAY BOARD MEMBER 1.0
Director
$0 $0 $0
STEPHANIE KORNEGAY BOARD MEMBER 1.0
Director
$0 $0 $0
GREY MORGAN BOARD MEMBER 1.0
Director
$0 $0 $0
TOWNSEND QUINN BOARD MEMBER 1.0
Director
$0 $0 $0
JAMES E WILLIAMS BOARD MEMBER 1.0
Director
$0 $0 $0
SCOTT WINSLOW BOARD MEMBER 1.0
Director
$0 $0 $0
EARL WORLEY JR BOARD MEMBER 1.0
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 No data No data No data No data
2023 $948,904 $895,216 $8,792,705 $53,688
2022 $958,940 $908,843 $9,147,004 $50,097
2021 $193 $923,960 $9,330,028 $-923,767
2020 $729,401 $939,098 $10,550,864 $-209,697
2019 $887,373 $967,630 $10,892,253 $-80,257
2018 $872,764 $998,988 $11,319,804 $-126,224
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