University of Mount Olive Inc

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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

1951

Legal Domicile

Principal Officer

EDWARD CROOM

Phone

9196582502

Tax Period

2023-07-01 to 2024-06-30

University of Mount Olive Inc, founded in 1951, is a mid-sized nonprofit in the Education sector that reported $50.6M in total revenue in fiscal year 2023. Expenses of $49.0M left a modest 3% surplus.

Mission

UNIVERSITY OF MOUNT OLIVE, INC. IS A CHRISTIAN FAITH-BASED, VALUES CENTERED PRIVATE INSTITUTION ROOTED IN THE LIBERAL ARTS TRADITION. WE SERVE OUR STUDENTS, OUR FOUNDING CHURCH, AND OUR COMMUNITIES.

Program Service Accomplishments

Program 1

Expenses: $39,302,326 Revenue: $43,362,177

CHRISTIAN FAITH-BASED, VALUES-CENTERED PRIVATE HIGHER EDUCATION INSTITUTION ROOTED IN THE LIBERAL ARTS TRADITION. STUDENT EDUCATION AND RELATED SERVICES FOR APPROXIMATELY 5,000 STUDENTS, AUXILIARY...

CHRISTIAN FAITH-BASED, VALUES-CENTERED PRIVATE HIGHER EDUCATION INSTITUTION ROOTED IN THE LIBERAL ARTS TRADITION. STUDENT EDUCATION AND RELATED SERVICES FOR APPROXIMATELY 5,000 STUDENTS, AUXILIARY ENTERPRISES, OPERATION OF PLANT, FOOD SERVICES, ATHLETICS AND STUDENT HOUSING.

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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 (2023)

Revenue Breakdown

Contributions & Grants $5,711,966

Program Service Revenue $43,362,177

Investment Income $1,625,115

Other Revenue $-82,281

TOTAL REVENUE $50,616,977

Expense Breakdown

Grants Paid $12,746,030

Salaries & Benefits $17,992,759

Fundraising Expenses $741,295

Program Expenses $39,302,326

Other Expenses $18,279,091

TOTAL EXPENSES $49,017,880

Year-over-Year Comparison

	2023	2022	Change
Revenue	$50,616,977	$50,389,774	+0.0%
Expenses	$49,017,880	$47,108,899	+0.0%
Net Income	$1,599,097	$3,280,875	-0.5%

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

650

Volunteers

235

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

$657,567

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR EDWARD CROOM	PRESIDENT	50.0	Officer	$375,357	$2,049	$377,406
KENNETH BUCHANAN	CFO/SVP BUSINESS & FINANCE	50.0	Officer	$177,107	$42,037	$219,144
KATHY BEST	DEAN - TILLMAN SCHOOL OF BUSIN	50.0	Highest	$129,193	$41,755	$170,948
W DAN SULLIVAN	SVP STUDENT AFFAIRS	50.0	Highest	$144,488	$26,356	$170,844
ELIZABETH CARRERE	EXECUTIVE VP FOR TECHNOLOGY	50.0	Highest	$143,201	$8,386	$151,587
KENNETH HINES	CHAIR - DEPT OF CHRISTIAN STUD	50.0	Highest	$107,698	$23,227	$130,925
TIMOTHY WOODARD	VP FOR ENROLLMENT, MKTG & COMM	50.0	Highest	$107,850	$22,507	$130,357
ANNE HAMM	EXEC ASST TO PRES/SECRETARY	50.0	Officer	$50,148	$10,869	$61,017
EARL WORLEY JR	BOARD CHAIR	1.0	Officer Director	$0	$0	$0
DONNIE LASSITER	BOARD VICE CHAIR	1.0	Officer Director	$0	$0	$0
WESLEY BEDDARD	TRUSTEE	1.0	Director	$0	$0	$0
BEVERLY BOYETTE	TRUSTEE	1.0	Director	$0	$0	$0
PAMELA BRAXTON	TRUSTEE	1.0	Director	$0	$0	$0
PAULA COATES	TRUSTEE	1.0	Director	$0	$0	$0
MARY DRUMMOND	TRUSTEE	1.0	Director	$0	$0	$0
ALBERT ELROD	TRUSTEE	1.0	Director	$0	$0	$0
BENJAMIN FORREST	TRUSTEE	1.0	Director	$0	$0	$0
JOHN HAWKINS	TRUSTEE	1.0	Director	$0	$0	$0
SYLVIA HERRING	TRUSTEE	1.0	Director	$0	$0	$0
RONNIE HOBGOOD	TRUSTEE	1.0	Director	$0	$0	$0
MARK HOBBS	TRUSTEE	1.0	Director	$0	$0	$0
BORDEN HOWELL	TRUSTEE	1.0	Director	$0	$0	$0
CAROLYN JERNIGAN	TRUSTEE	1.0	Director	$0	$0	$0
BOB JOHNSON	TRUSTEE	1.0	Director	$0	$0	$0
BOBBY JONES	TRUSTEE	1.0	Director	$0	$0	$0
JERILYN LEE	TRUSTEE	1.0	Director	$0	$0	$0
DAVID MCPHERSON	TRUSTEE	1.0	Director	$0	$0	$0
KIM QUINN	TRUSTEE	1.0	Director	$0	$0	$0
J MATTHEW RAST	TRUSTEE	1.0	Director	$0	$0	$0
SHANE SMITH	TRUSTEE	1.0	Director	$0	$0	$0
DUSK STROUD	TRUSTEE	1.0	Director	$0	$0	$0
ROBERT SUTTER	TRUSTEE	1.0	Director	$0	$0	$0
JODY TYSON	TRUSTEE	1.0	Director	$0	$0	$0
JOSH WHITFIELD	TRUSTEE	1.0	Director	$0	$0	$0
CHARLIE YOUNG	TRUSTEE	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	$50,616,977	$49,017,880	$101,622,452	$1,599,097
2023	$50,389,774	$47,108,899	$86,936,254	$3,280,875
2022	$62,113,692	$52,274,279	$83,720,864	$9,839,413
2021	$52,108,039	$47,876,675	$82,107,533	$4,231,364
2020	$52,512,412	$50,682,415	$70,836,752	$1,829,997
2019	$49,969,029	$53,478,474	$74,482,851	$-3,509,445
2018	$51,508,567	$53,221,855	$72,368,787	$-1,713,288