Olivet Nazarene University Foundation

Organization Overview

Olivet Nazarene University Foundation is located in Bourbonnais, IL. The organization was established in 1970. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Olivet Nazarene University Foundation 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 Nazarene University Foundation generated $8.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $6.1m during the year ending 06/2023. While expenses have increased by 16.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

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.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDE SCHOLARSHIPS TO 1031 STUDENTS FROM ENDOWMENT EARNINGS AND CURRENT GIFTS TO OLIVET NAZARENE UNIV.


FUNDS PROVIDED FOR EDUCATIONAL PROGRAMS, INTERNSHIPS, AND CENTER FOR STUDENT SUCCESS FROM ENDOWMENT EARNINGS AND CURRENT GIFTS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Morgan Stanley Smith Barney
Investment Managemen
$90,500
Commonfund
Investment Managemen
$49,410
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$3,488,429
Noncash contributions included in lines 1a–1f $159,432
Total Revenue from Contributions, Gifts, Grants & Similar$3,488,429
Total Program Service Revenue$0
Investment income $4,099,478
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $420,883
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $8,245,158

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