OLIVET NAZARENE UNIVERSITY FOUNDAT… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1969

Legal Domicile

Principal Officer

GREGG CHENOWETH

Phone

8159395079

Tax Period

2024-07-01 to 2025-06-30

OLIVET NAZARENE UNIVERSITY FOUNDATION, founded in 1969, is a mid-sized nonprofit in the Education sector that reported $12.5M in total revenue in fiscal year 2024. Revenue surged 36% from the prior year, signaling strong growth momentum. The organization ran a surplus of $6.5M, a strong 52% operating margin.

Mission

RECEIVE, ADMINISTER, AND EXPEND FUNDS FOR RELIGIOUS, EDUCATIONAL, CHARITABLE, AND SCIENTIFIC PURPOSES IN CONNECTION WITH PROMOTING AND ASSISTING THE EDUCATIONAL SERVICES OF OLIVET NAZARENE UNIVERSITY.

Program Service Accomplishments

Program 1

Expenses: $5,160,603 Revenue: $2,629,356

FUNDS PROVIDED FOR EDUCATION PROGRAMS, INTERNSHIPS, AND CENTER STUDENT SUCCESS FROM ENDOWMENT EARNINGS AND CURRENT GIFTS, INCLUDING FUNDS FOR STUDENT SCHOLARSHIPS AT OLIVET NAZARENE UNIVERSITY.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $5,847,631

Program Service Revenue $2,629,356

Investment Income $4,066,123

Other Revenue $0

TOTAL REVENUE $12,543,110

Expense Breakdown

Grants Paid $2,474,202

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $5,160,603

Other Expenses $3,598,430

TOTAL EXPENSES $6,072,632

Year-over-Year Comparison

	2024	2023	Change
Revenue	$12,543,110	$9,210,481	+0.4%
Expenses	$6,072,632	$6,360,038	0.0%
Net Income	$6,470,478	$2,850,443	+1.3%

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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

$1,620,995

Total Directors

$911,946

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR GREGG CHENOWETH	PRESIDENT	5.00	Officer Director	$0	$157,499	$422,971
DR BRIAN ALLEN	VP INSTITUTIONAL ADVANCEMENT	5.00	Officer Director	$0	$22,141	$180,762
MR MATTHEW FOOR	VICE PRESIDENT FOR FINANCE, CFO	5.00	Officer Director	$0	$30,047	$170,178
MR WOODY WEBB	EXECUTIVE DIRECTOR	5.00	Officer Director	$0	$84,554	$138,035
MR MEL SAYES	CHAIRMAN	1.00	Officer Director	$0	$0	$0
MR DAN REXROTH	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
MR BARRY HUEBNER	SECRETARY	1.00	Officer Director	$0	$0	$0
MR JERIEL A BEARD	DIRECTOR	1.00	Director	$0	$0	$0
MR TIM CRUMP	DIRECTOR	1.00	Director	$0	$0	$0
MR RICHARD DYKHOUSE	DIRECTOR	1.00	Director	$0	$0	$0
MR HARVEY GIFFORD	DIRECTOR	1.00	Director	$0	$0	$0
MR GEORGE KALEMKARIAN	DIRECTOR	1.00	Director	$0	$0	$0
MR MICK MCGRAW	DIRECTOR	1.00	Director	$0	$0	$0
MRS BETH PENNINGTON	DIRECTOR	1.00	Director	$0	$0	$0
MR CHRISTOPHER SHRIDE	DIRECTOR	1.00	Director	$0	$0	$0
MR KEVIN SIMS	DIRECTOR	1.00	Director	$0	$0	$0
DR WILLIAM SLATTERY	DIRECTOR	1.00	Director	$0	$0	$0
MR DON WALKER	DIRECTOR	1.00	Director	$0	$0	$0
MR JOHN WORKMAN	DIRECTOR	1.00	Director	$0	$0	$0
MS PAMELA ANDERSON	DIRECTOR	1.00	Director	$0	$0	$0
MR LOWELL SHORT	DIRECTOR	1.00	Director	$0	$0	$0
MRS JILL BOWLING	DIRECTOR (PART YEAR)	1.00	Director	$0	$0	$0
MR DAVID MCCOOL	DIRECTOR (PART YEAR)	1.00	Director	$0	$0	$0
MR MARCUS REDDY	VP OF ENROLLMENT MANAGEMENT	1.00	Officer	$0	$63,801	$186,089
DR STEPHEN LOWE	VP OF ACADEMIC AFFAIRS	1.00	Officer	$0	$24,669	$184,233
MR ROBBY LALUMENDRE	VP OF OPERATIONS	1.00	Officer	$0	$31,917	$173,435
MR JASON STEPHENS	VP OF STUDENT DEVELOPMENT	1.00	Officer	$0	$31,865	$165,292

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	$12,543,110	$6,072,632	$202,009,992	$6,470,478
2024	$9,210,481	$6,360,038	$192,802,068	$2,850,443
2023	$8,245,158	$6,071,171	$193,042,077	$2,173,987
2022	$9,125,280	$5,902,820	$189,458,744	$3,222,460
2021	$10,459,416	$5,679,597	$194,874,397	$4,779,819
2020	$7,089,470	$5,375,302	$179,562,484	$1,714,168
2019	$8,826,624	$5,163,626	$179,659,257	$3,662,998

OLIVET NAZARENE UNIVERSITY FOUNDATION