Olivet University
- Assets
- $85.0m
- Revenue
- $14.6m
- Investments
- $0.0
- Employees
- 120
- Location
- Anza, CA
- Founding
- 06/2005
- Data as of
- 06/2023
- EIN
- 20-0909475
Organization Overview
Olivet University is located in Anza, CA. The organization was established in 2005. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2023, Olivet University employed 120 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Olivet University is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Olivet University generated $14.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.0%) each year. All expenses for the organization totaled $14.7m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (4.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Olivet University has awarded 54 individual grants totaling $24,387,410. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING GUALITY CHRISTIAN EDUCATION TO THE NETWORK GENERATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRAINED NUMEROUS CHRISTIAN STUDENTS FOR THE MISSION FIELD
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthias Gebhardt President | OfficerTrustee | 40 | $68,928 |
Daehong Jung CFO | Officer | 40 | $36,000 |
Seonho Song Trustee | Trustee | 1 | $0 |
Amanda Garcia Trustee | Trustee | 1 | $0 |
Ginturn Tran Chairman | Trustee | 2 | $0 |
Brian Kim Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,415,074 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,750,684 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,165,758 |
| Total Program Service Revenue | $414,011 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,579,769 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $358,245 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $104,928 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,758,236 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $102,524 |
| Fees for services: Management | $423,116 |
| Fees for services: Legal | $1,066,176 |
| Fees for services: Accounting | $77,774 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,155,669 |
| Advertising and promotion | $342 |
| Office expenses | $105,248 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,806,964 |
| Travel | $294,321 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,158,112 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,000,204 |
| Insurance | $120,267 |
| All other expenses | $0 |
| Total functional expenses | $14,698,300 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,342,149 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $13,616,980 |
| Accounts receivable, net | $5,175,869 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,341,843 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $210,324 |
| Net Land, buildings, and equipment | $57,937,714 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,392,135 |
| Total assets | $85,017,014 |
| Accounts payable and accrued expenses | $3,000,823 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $825,987 |
| Secured mortgages and notes payable | $8,559,074 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,548,719 |
| Total liabilities | $23,934,603 |
| Net assets without donor restrictions | $47,622,124 |
| Net assets with donor restrictions | $13,460,287 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $85,017,014 |
Grants Awarded
Over the last fiscal year, Olivet University has awarded $221,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
ABHE PURPOSE: Chrsitian leadership program support | $20,000 |
ELIM CENTER INTERNATIONAL PURPOSE: Christian education | $94,500 |
YOUTH EVANGELICAL FELLOWSHIP PURPOSE: Christian ministry assistance | $27,000 |
LA PILGRIM PRESBYTERIAN CHURCH PURPOSE: Church missions | $23,500 |
YOUNG DISCIPLES OF JESUS PURPOSE: Christian ministry support | $50,000 |
GREAT COMMISSION UNIVERSITY PURPOSE: Christian higher education assistance | $6,000 |