MIDAMERICA NAZARENE UNIVERSITY

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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

1966

Legal Domicile

Principal Officer

DR JON NORTH

Phone

9139713600

Tax Period

2024-07-01 to 2025-06-30

MIDAMERICA NAZARENE UNIVERSITY, founded in 1966, is a mid-sized nonprofit in the Education sector that reported $65.9M in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $10.5M, a strong 16% operating margin.

Mission

MIDAMERICA NAZARENE UNIVERSITY (MNU) IS A TRANSFORMATIVE UNIVERSITY THAT NURTURES CHRISTLIKE COMMUNITY, PURSUES ACADEMIC EXCELLENCE, AND CULTIVATES A PASSION TO SERVE. (CONTINUED ON SCHEDULE O)MNU IS A COMPREHENSIVE LIBERAL ARTS UNIVERSITY OFFERING UNDERGRADUATE AND SELECTED PROFESSIONAL AND PERSONAL DEVELOPMENT FOR A LIFE OF SERVICE TO GOD, THE CHURCH, THE NATION, AND THE WORLD.

Program Service Accomplishments

Program 1

Expenses: $50,807,248 Revenue: $46,236,886

MIDAMERICA NAZARENE UNIVERSITY IS A PRIVATE, CHRISTIAN, LIBERAL ARTS UNIVERSITY FOUNDED IN 1966. THE CAMPUS IS LOCATED ON 105 ACRES IN OLATHE, KANSAS. IN 2016, MNU HAD ITS ACCREDITATION BY THE HIGHER LEARNING COMMISSION REAFFIRMED. OFFERING MORE THAN 70 AREAS OF STUDY IN UNDERGRADUATE, GRADUATE AND CERTIFICATE PROGRAMS, MNU IS KNOWN FOR ITS PERSONAL, STUDENT-FOCUSED APPROACH. POPULAR PROGRAMS INCLUDE UNDERGRADUATE NURSING, KINESIOLOGY, BUSINESS ADMINISTRATION, SPORTS MANAGEMENT, AND PSYCHOLOGY. ONLINE OFFERINGS INCLUDE CLASSES IN EDUCATION, NURSING, BUSINESS AND ASSOCIATE'S LEVEL STUDIES. STUDY ABROAD AS WELL AS SERVICE-LEARNING EXPERIENCES ARE OFFERED. ENROLLMENT FOR FY25 WAS 1,779. (CONTINUED ON SCHEDULE O)MNU FACTS: MNU IS THE ONLY PRIVATE UNIVERSITY IN THE STATE OF KANSAS TO OFFER A GRADUATE COUNSELING PROGRAM ACCREDITED BY THE COUNCIL FOR ACCREDITATION OF COUNSELING & RELATED EDUCATIONAL PROGRAMS (CACREP). MNU HAS OFFERED INNOVATIVE, ACCELERATED ADULT DEGREE COMPLETION AND GRADUATE PROGRAMS SINCE 1987. THE YEARLY ECONOMIC IMPACT OF THE UNIVERSITY PER THE KICA STUDY IS $84.8 MILLION ANNUALLY IN THE STATE OF KANSAS.

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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 $19,095,339

Program Service Revenue $46,203,648

Investment Income $35,142

Other Revenue $567,361

TOTAL REVENUE $65,901,490

Expense Breakdown

Grants Paid $18,153,331

Salaries & Benefits $20,989,950

Fundraising Expenses $1,364,663

Program Expenses $50,807,248

Other Expenses $16,259,244

TOTAL EXPENSES $55,402,525

Year-over-Year Comparison

	2024	2023	Change
Revenue	$65,901,490	$52,058,910	+0.3%
Expenses	$55,402,525	$53,357,212	+0.0%
Net Income	$10,498,965	$-1,298,302	-9.1%

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

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

849

Volunteers

306

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

$883,477

Total Directors

$205,763

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR DAVID J SPITTAL	PRESIDENT	40.00	Officer Director	$205,117	$646	$205,763
DR DANIEL REXROTH	CHAIRMAN	1.00	Officer Director	$0	$0	$0
REV STEVEN HOFFMAN	VICE CHAIR/TRUSTEE	1.00	Officer Director	$0	$0	$0
MR CHAD COOK	SECRETARY/TRUSTEE	1.00	Officer Director	$0	$0	$0
MR ERVIN CASH	TREASURER/TRUSTEE	1.00	Officer Director	$0	$0	$0
DR CLARK ARMSTRONG	TRUSTEE	1.00	Director	$0	$0	$0
DR WENDY BELCHER	TRUSTEE	1.00	Director	$0	$0	$0
REV JAY E BESSMER	TRUSTEE	1.00	Director	$0	$0	$0
MR TIM J BUCHANAN	TRUSTEE	1.00	Director	$0	$0	$0
MR ALAN AL D CARLSON	TRUSTEE	1.00	Director	$0	$0	$0
REV TIM W CARTER	TRUSTEE	1.00	Director	$0	$0	$0
REV MARCOS CISNEROS	TRUSTEE	1.00	Director	$0	$0	$0
DR MERRILL R CONANT	TRUSTEE	1.00	Director	$0	$0	$0
MR JOHN DAHL	TRUSTEE	1.00	Director	$0	$0	$0
DR DEANNA EDWARDS	TRUSTEE	1.00	Director	$0	$0	$0
DR LEETTA FELTER	TRUSTEE	1.00	Director	$0	$0	$0
MRS MARGARET PEGGY HEPHER	TRUSTEE - LAY	1.00	Director	$0	$0	$0
REV JASON HILL	TRUSTEE	1.00	Director	$0	$0	$0
DR LARRY MCINTIRE	TRUSTEE	1.00	Director	$0	$0	$0
REV DARREN MELTON	TRUSTEE	1.00	Director	$0	$0	$0
MRS CRYSTAL PAGE	TRUSTEE	1.00	Director	$0	$0	$0
REV PHIL RHOADES	TRUSTEE	1.00	Director	$0	$0	$0
DR BRANSON C ROBERTS JR	TRUSTEE	1.00	Director	$0	$0	$0
REV KYLE ROGERS	TRUSTEE	1.00	Director	$0	$0	$0
MRS BRENNA SELDEN	TRUSTEE	1.00	Director	$0	$0	$0
MR ANDREW L SPEICHER	TRUSTEE	1.00	Director	$0	$0	$0
MR PHILIP D SPEICHER	TRUSTEE	1.00	Director	$0	$0	$0
REV SOKURT SUOS	TRUSTEE	1.00	Director	$0	$0	$0
REV FREDERICK B TOOMEY JR	TRUSTEE	1.00	Director	$0	$0	$0
DR GEORGE R WILLIAMS	TRUSTEE	1.00	Director	$0	$0	$0
DR N JEANNIE WILLIAMS	AT-LARGE/TRUSTEE	1.00	Director	$0	$0	$0
KYLE POOLE	TRUSTEE	1.00	Director	$0	$0	$0
MIKE PALMER	TRUSTEE	1.00	Director	$0	$0	$0
KEVIN DONOHO	TRUSTEE	1.00	Director	$0	$0	$0
KENDALL FRANKLIN	TRUSTEE	1.00	Director	$0	$0	$0
BRENT BARKMAN	TRUSTEE	1.00	Director	$0	$0	$0
REV DUSTIN LEDFORD	TRUSTEE	1.00	Director	$0	$0	$0
DR JON NORTH	VP OF ADVANCEMENT	40.00	Officer	$145,206	$30,799	$176,005
MR DARREL ANDERSON	VP FOR FINANCE/CFO	40.00	Officer	$142,139	$15,951	$158,090
ABBY M HODGES	VP ACADEMIC AFFAIRS	40.00	Officer	$127,108	$9,763	$136,871
MRS LISA HOOD	VP STRATEGIC EXPANSION	40.00	Officer	$91,521	$13,133	$104,654
MR DANIEL RINCONES	VP FOR STUDENT DEVELOPMENT	40.00	Officer	$89,862	$12,232	$102,094
DR TODD FRYE	PROF. OF COUNSELOR ED, ASSOC. DEAN	40.00	Highest	$102,160	$67,017	$169,177
DR MARTIN CROSSLAND	ASSOC. VP INSTRUCTIONAL TECHNOLOGY	40.00	Highest	$105,742	$24,949	$130,691
DR SUSAN LARSON	PROFESSOR OF NURSING	40.00	Highest	$122,097	$4,462	$126,559
DR YORTON CLARK	PROF. OF BUS. & MKTG, ASSOC. DEAN	40.00	Highest	$105,181	$11,050	$116,231
DR ADDISON LUCCHI	PROF. OF ENGLISH	40.00	Highest	$108,135	$6,656	$114,791

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	$65,901,490	$55,402,525	$66,168,295	$10,498,965
2024	$52,058,910	$53,357,212	$56,649,044	$-1,298,302
2023	$48,266,898	$51,935,038	$56,725,893	$-3,668,140
2022	$63,656,687	$49,951,860	$55,334,319	$13,704,827
2021	$50,974,796	$46,586,638	$39,258,196	$4,388,158
2020	$47,854,292	$45,776,854	$35,055,385	$2,077,438
2019	$45,941,459	$47,410,182	$36,813,326	$-1,468,723
2018	$46,773,497	$48,048,192	$37,247,985	$-1,274,695