UNIVERSITY BUDGET SUMMARY

OLIVET DESIGNATES APPROXIMATELY 90% OF ALL REVENUE RECEIVED TOWARD:

• Instruction

• Scholarships

•

TOTAL GIFTS $12,976,954

•

We are pleased to present this overview, with sincere appreciation for your generous gifts, influence and prayers. Your faithfulness assures our mission and ministry success while COVID enrollment losses cycle for several more years (until freshmen graduate and adult students stabilize their households), and the worst stock market in 15 years temporarily depresses the value of the Olivet Foundation.*

We are stewarding your generosity by reducing campus renovation spending and payroll by $5M. We have experienced historically strong gift income, and we’re protecting and increasing cash reserves.

Revenue

Tuition & Fees $ 99,348,150

Room & Board 20,004,952

Gifts & Grants 19,175,168

Miscellaneous 1,831,648

Auxiliary 1,262,203

Transfers from 811,741 Foundation

Total $142,433,862

Expenses

• Operations/Maintenance

As we step into 2023 and into the next five years, we will engage an inner core of men and women to provide leadership and support. With great expectancy, we’ll soon share more about opportunities to ensure the accessibility, vibrancy and sustainability of Olivet for the next generation and beyond. Please pray with us. Thank you!

*Non-Operating -$4,690,389

Investment Losses

Meanwhile, altars still fill during Revival Services; nearly 100% of graduates still enjoy job placement or graduate school admission; and our 50,000 alumni now reside in all U.S. states and 64 nations — on every continent except Antarctica!

The report before you reflects a mission-focused, stewardship-minded Olivet community of faculty and staff — and God’s provision over our lives and His work.