OLIVET NAZARENE UNIVERSITY

EIN: 362191252 501(c)(3) Education

BOURBONNAIS, IL

Total Revenue
$147,907,715
Total Expenses
$148,049,079
Total Assets
$245,287,838
Net Assets
$115,199,104
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1909
Legal Domicile
IL
Principal Officer
GREGG CHENOWETH
Phone
8159395079
Tax Period
2024-07-01 to 2025-06-30

OLIVET NAZARENE UNIVERSITY, founded in 1909, is a major nonprofit in the Education sector that reported $147.9M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

TO PROVIDE ACADEMIC INSTRUCTION TO PREPARE INDIVIDUALS FOR LIVES OF SERVICE TO GOD AND HUMANITY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $18,363,768
Program Service Revenue $126,520,235
Investment Income $1,502,318
Other Revenue $1,521,394
TOTAL REVENUE $147,907,715

Expense Breakdown

Grants Paid $61,334,319
Salaries & Benefits $47,306,932
Fundraising Expenses $4,005,169
Program Expenses $133,009,283
Other Expenses $39,306,351
TOTAL EXPENSES $148,049,079

Year-over-Year Comparison

2024 2023 Change
Revenue $147,907,715 $134,049,375 +0.1%
Expenses $148,049,079 $136,553,343 +0.1%
Net Income $-141,364 $-2,503,968 -0.9%
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

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Governance

Voting Members
61
Independent Members
56
Employees
1833
Volunteers
100

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
9
$1,482,960
Total Directors
74
$430,321
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR GREGG CHENOWETH PRESIDENT 40.00
Officer Director
$265,472 $157,499 $422,971
DR STACEY SCHMIDT TRUSTEE 1.00
Director
$4,650 $0 $4,650
DR DAVID BARTLEY TRUSTEE 1.00
Director
$2,700 $0 $2,700
REV TIMOTHY CRUMP CHAIRMAN 1.00
Officer Director
$0 $0 $0
DR MARK L HOSTETLER SECRETARY 1.00
Officer Director
$0 $0 $0
REV ANDY ALBRIGHT TRUSTEE 1.00
Director
$0 $0 $0
REV DAVID ANDERSON TRUSTEE 1.00
Director
$0 $0 $0
REV TERRY ARMSTRONG TRUSTEE 1.00
Director
$0 $0 $0
REV WESLEY BALL TRUSTEE 1.00
Director
$0 $0 $0
MR TERRY BATE TRUSTEE 1.00
Director
$0 $0 $0
DR CHERYL BETZ TRUSTEE 1.00
Director
$0 $0 $0
DR STEVEN BOHALL TRUSTEE 1.00
Director
$0 $0 $0
REV LLOYD BROCK TRUSTEE 1.00
Director
$0 $0 $0
MR DARIN BROWN TRUSTEE 1.00
Director
$0 $0 $0
DR BILL CLARK JR TRUSTEE 1.00
Director
$0 $0 $0
MS ASHLEY DAGOSTINO TRUSTEE 1.00
Director
$0 $0 $0
REV ANDY DAYTON TRUISTEE 1.00
Director
$0 $0 $0
REV CHRIS DEMOTT TRUSTEE 1.00
Director
$0 $0 $0
MR DEWAYNE DOTY TRUSTEE 1.00
Director
$0 $0 $0
MR RODNEY DURR TRUSTEE 1.00
Director
$0 $0 $0
REV BRADLEY DYRNESS TRUSTEE 1.00
Director
$0 $0 $0
REV PHILLIP EDWARDS TRUSTEE 1.00
Director
$0 $0 $0
REV MAKENZIE FLORES TRUSTEE 1.00
Director
$0 $0 $0
MR JIM FORSHEE TRUSTEE 1.00
Director
$0 $0 $0
MR DANIEL GARDE TRUSTEE 1.00
Director
$0 $0 $0
MS LISA GARVIN TRUSTEE 1.00
Director
$0 $0 $0
MRS PHYLLIS GERMAN TRUSTEE 1.00
Director
$0 $0 $0
REV DANIEL GILMORE TRUSTEE 1.00
Director
$0 $0 $0
REV NATHAN GRAY TRUSTEE 1.00
Director
$0 $0 $0
REV AARON GREGORY TRUSTEE 1.00
Director
$0 $0 $0
MR JOHN HARRIS TRUSTEE 1.00
Director
$0 $0 $0
MR DANIEL HIRST TRUSTEE 1.00
Director
$0 $0 $0
REV JASON HAWK TRUSTEE 1.00
Director
$0 $0 $0
MR DOUGLAS JONES TRUSTEE 1.00
Director
$0 $0 $0
REV MATTHEW JONES TRUSTEE 1.00
Director
$0 $0 $0
REV TIM KELLERMAN TRUSTEE 1.00
Director
$0 $0 $0
DR MICHAEL KITSKO TRUSTEE 1.00
Director
$0 $0 $0
MRS BETH KRING TRUSTEE 1.00
Director
$0 $0 $0
REV GARRETT LEE TRUSTEE 1.00
Director
$0 $0 $0
MR STEPHEN LYLE TRUSTEE 1.00
Director
$0 $0 $0
MRS LAURA MONDY TRUSTEE 1.00
Director
$0 $0 $0
REV TRAVIS MYERS TRUSTEE 1.00
Director
$0 $0 $0
REV DARIN NOSSETT TRUSTEE 1.00
Director
$0 $0 $0
REV MIKE POSTELL TRUSTEE 1.00
Director
$0 $0 $0
REV ROB PRINCE TRUSTEE 1.00
Director
$0 $0 $0
DR DENA REDDICK TRUSTEE 1.00
Director
$0 $0 $0
MRS JILL RICE TRUSTEE 1.00
Director
$0 $0 $0
MRS AMANDA RIGGLE TRUSTEE 1.00
Director
$0 $0 $0
MR KEN ROAT TRUSTEE 1.00
Director
$0 $0 $0
MR MEL SAYES TRUSTEE 1.00
Director
$0 $0 $0
MR KEN SCHMIDT TRUSTEE 1.00
Director
$0 $0 $0
MRS CHERYL SEYMOUR TRUSTEE 1.00
Director
$0 $0 $0
MRS CHERYL SHERWOOD TRUSTEE 1.00
Director
$0 $0 $0
MR LOWELL SHORT TRUSTEE 1.00
Director
$0 $0 $0
DR JESS SOULIA TRUSTEE 1.00
Director
$0 $0 $0
REV RICHARD STADLER TRUSTEE 1.00
Director
$0 $0 $0
REV JAMIE STAMM TRUSTEE 1.00
Director
$0 $0 $0
MICHAEL TAYLOR TRUSTEE 1.00
Director
$0 $0 $0
REV BRIAN WANGLER TRUSTEE 1.00
Director
$0 $0 $0
REV FRANCIS WARREN TRUSTEE 1.00
Director
$0 $0 $0
DR SCOTT WHALEN TRUSTEE 1.00
Director
$0 $0 $0
REV KENNETH BUSHEY TRUSTEE (PART YEAR) 1.00
Director
$0 $0 $0
MRS JENNIFER CAPLINGER TRUSTEE (PART YEAR) 1.00
Director
$0 $0 $0
DR JEFFERY CROWDER TRUSTEE (PART YEAR) 1.00
Director
$0 $0 $0
REV TIM FISHER TRUSTEE (PART YEAR) 1.00
Director
$0 $0 $0
REV JAMES FRYE TRUSTEE (PART YEAR) 1.00
Director
$0 $0 $0
MR MATT MCBURNIE TRUSTEE (PART YEAR) 1.00
Director
$0 $0 $0
DR LARRY MCKAIN TRUSTEE (PART YEAR) 1.00
Director
$0 $0 $0
MR RICK PARKS TRUSTEE (PART YEAR) 1.00
Director
$0 $0 $0
REV PHIL KIZZEE TRUSTEE (PART YEAR) 1.00
Director
$0 $0 $0
MR BEN SMIDT TRUSTEE (PART YEAR) 1.00
Director
$0 $0 $0
REV GORDON SMITH TRUSTEE (PART YEAR) 1.00
Director
$0 $0 $0
REV JOSH WOODS TRUSTEE (PART YEAR) 1.00
Director
$0 $0 $0
REV MARK MCCALL TRUSTEE (PART YEAR) 1.00
Director
$0 $0 $0
MR MARCUS REDDY VP OF ENROLLMENT MANAGEMENT 40.00
Officer
$122,288 $63,801 $186,089
DR STEPHEN LOWE VP OF ACADEMIC AFFAIRS 40.00
Officer
$159,564 $24,669 $184,233
DR BRIAN ALLEN VP FOR INSTITUTIONAL ADVANCEMENT 40.00
Officer
$158,621 $22,141 $180,762
MR ROBBY LALUMENDRE VP OF OPERATIONS 45.00
Officer
$141,518 $31,917 $173,435
MR MATTHEW FOOR VICE PRESIDENT FOR FINANCE, CFO 45.00
Officer
$140,131 $30,047 $170,178
MR JASON STEPHENS VP OF STUDENT DEVELOPMENT 40.00
Officer
$133,427 $31,865 $165,292
DR JAY MARTINSON DEAN ONLINE LEARNING 50.00
Highest
$142,125 $36,390 $178,515
DR DAVID VANHEEMST CHAIR, HISTORY & POLITICAL SCIENCE 50.00
Highest
$138,208 $31,497 $169,705
DR JONATHAN PICKERING DEAN OF ACADEMIC OPERATIONS 50.00
Highest
$124,803 $33,673 $158,476
DR CATHERINE DILLINGER CHAIR, ASSOC DEAN NURSING 50.00
Highest
$129,217 $13,724 $142,941
DR AMBER RESIDORI DEAN OF THE COLLEGE OF PROF. STUDIES 50.00
Highest
$128,966 $8,224 $137,190
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 $147,907,715 $148,049,079 $245,287,838 $-141,364
2024 No data No data No data No data
2023 $148,624,413 $142,538,178 $252,143,166 $6,086,235
2022 $142,248,844 $143,704,720 $243,527,041 $-1,455,876
2021 $144,202,716 $140,079,343 $250,852,191 $4,123,373
2021 $144,202,716 $140,079,343 $250,852,191 $4,123,373
2020 $145,296,157 $149,885,601 $244,849,406 $-4,589,444
2019 $150,236,873 $150,780,575 $247,165,550 $-543,702
2018 $153,470,459 $151,147,124 $249,126,089 $2,323,335
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