Annual Report 2021

THANKS ANNUAL REPORT 2021

ANNUAL REPORT 2021

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A NNUA L REP ORT

CONTENTS OLIVET NAZARENE UNIVERSITY

President’s Message Dr. Gregg Chenoweth

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My Campus, My Pool, My Community Helina Reyes

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Combined Gift Revenue

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The Olivet Foundation

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University Budget

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Persevering for a Higher Purpose Anita Devers

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More Choices in Giving Fueling, Funding, Securing

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Board Members

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PRESIDENT’S MESSAGE Dr. Gregg Chenoweth

Here it is. When I pray for God’s direction for Olivet, I hear, “You already have what you need.” That’s my sense of it. Over and over.

That doesn’t mean Olivet already “possesses” what we need, but that timely resources are available to us — people, ideas, funding. I am very confident and clear in where God is guiding us, but I still pray, “Lord, provide for what you guide!” Then wham! A gifted new employee is sent, whom we didn’t recruit. Wham!

A vexing problem finds remedy in a strategy idea that had evaded us. Wham! Funding comes where we could not serve students and our constituents with excellence on our own.

I am not drunk with confidence. It’s closer to trust during uncertainty, and joy in the journey. It makes me watchful rather than fretful. The dictum of Jesus in Matthew 13 says some people only see while others perceive; some hear while others understand the reality of God’s activity in our lives. I strive to perceive what He has arranged.

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Friends of Olivet, I’ll tell you something personal.

Few people know this. But I’m ok letting you on the inside.

Since my election in January 2021, I have experienced a recurring impression of mind in prayer, that has been confirmed in Scripture, the counsel of mature Believers, and in my actual experiences. And when I say “recurring,” I mean it — maybe 20 times.

When I pray for God’s direction for Olivet, I hear, “You already have what you need.”

That is a backdrop for my hearty thank you. As a friend of Olivet, you are an answer to prayer. By your generosity and goodwill I hear the whisper, “See, I told you so.” I am so very grateful to you!

ANNUAL REPORT 2021

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ST U D E N T ST O RY

My Campus, My Pool, My Community HELINA REYES ’22 After her first campus visit to Olivet, Helina Reyes felt a strong affinity with the University. Before even enrolling, she referred to the University as “my campus, my pool, my community” when talking about the school with friends and family.

When she started her freshman year, she literally dove in to the experience with an open mind to soak up as much as she could learn. She joined the swim and dive team, and as an international business and marketing double-major, she got plugged in to Enactus and the student-run Zenith Marketing Agency.

“I have loved being challenged in new ways,” she reflects. “If you put yourself out there, Olivet it a great place to push, challenge, and grow. Thankfully you will have people like professors, friends, and other staff members to help you along the way. I have learned the importance of taking risks and ‘failing forward’ to learn new things. I am more comfortable with being uncomfortable, and I welcome challenges.”

A stand-out swimmer on Olivet’s team, Helina has made the national team three years in a row. She has also given

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ANNUAL REPORT 2021

STORY BY LAUREN BEATTY

invaluable leadership to the team both in and out of the pool.

“I’ve loved seeing teammates break records, make national cuts and obtain personal best times,” she says. “It’s been an honor to help run our girls’ team Bible study, since faith is a big reason why I joined the team. I’m excited to see what God has in store for the team.”

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A small, Christian school like Olivet serves a big God who has big plans for Olivet and its students!

This fall, Helina was recognized as a “Most Promising Multicultural Student

2022” by the American Advertising Federation. She is one of 50 students in the United States to receive this distinction because of the ways she is already making her mark on the advertising industry by conducting herself as an outstanding student, athlete, intern and member of the community.

“Receiving this award has proven what I’ve known all along,” says Helina. “A small, Christian school like Olivet serves a big God who has big plans for Olivet and its students! Don’t let the size or the fact that it’s a Christian school cause you to limit what can come from this place. If this is where God wants you to be then BIG things are going to happen no matter where you are.”

Helina is enrolled in Olivet’s MBA+1 program, and plans to complete her master’s degree next year.

“I hope to work with organizations that help developing countries build health businesses to benefit communities,” she says. “I encourage everyone to pour into Olivet, to encourage and push.

This is what has been done for me, and I am forever grateful!”

F I N A N C I A L OV E RV I E W

COMBINED GIFT REVENUE University and Foundation (both restricted and unrestricted)

Corporate Matching Funds

0.77% | $146,970 Bequests

Trustees, Foundation Board, Alumni Board, Faculty & Staff

1.84% | $349,361

38.47% | $7,306,543

Friends

5.07% | $963,862

Parents

6.98% | $1,325,131

TOTAL GIFTS

Corporations and Businesses

8.02% | $1,523,957

$18,995,018

Alumni (General Sources)

9.08% | $1,724,641

Foundations

17.67% | $3,356,697

Churches & Religious Organizations

12.10% | $2,297,856

OLIVET DESIGNATES APPROXIMATELY 90% OF ALL REVENUE RECEIVED TOWARD:

• • • • •

Instruction Scholarships Student Services Institutional Support Operations/Maintenance

Olivet Nazarene University is a 501(c)(3) public charity. The University’s Form 990 is available upon request through the Accounting Office.

ANNUAL REPORT 2021

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Fiscal Year 2021 Olivet Nazarene University Foundation Total Gifts:

$3,326,411 Total Assets:

$58,030,397

THE OLIVET FOUNDATION Great institutions are preserved and continuously thrive through endowment giving. The Olivet Foundation mindfully manages estate gifts and gifts of cash, stock, and property to ensure the Olivet experience continues far into the next century.

SECURING

THE

Olivet’s bright future is made possible through: 1. Endowed Faculty Chairs & Professorships 2. Endowed Academic Programs 3. Endowed Classrooms & Lab Technologies 4. Endowed Capital Projects 5. Endowed Student Scholarships When gifts keep growing, the possibilities become limitless!

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ANNUAL REPORT 2021

FUTURE

F I N A N C I A L OV E RV I E W

UNIVERSITY BUDGET SUMMARY REVENUE 68.44%

Tuition & Fees

$101,662,369

Room & Board

19,214,838

12.94%

Gifts & Grants

18,861,394

12.70%

Miscellaneous

8,054,945

Auxiliary

738,984

Total

5.42% 0.50%

$148,532,530

EXPENSES Scholarships

40.83% 20.61%

$ 57,424,958

Instruction

28,995,181

11.01%

Student Services

15,481,750

10.53%

Institutional Support

14,814,605

7.22%

Operation/Maintenance

10,161,017

7.44%

Auxiliary

10,460,602

2.36%

Interest Expense Total

Net Revenue Balance

New Endowments Established in Fiscal Year 2021: The Katherine (Katie) Miller “Excellence in Service” Memorial Scholarship The Ruth K. Lafevor Memorial Scholarship The Martha Lindquist Chalfant “Eric and Anna Lindquist” Memorial Scholarship The Andrew R. Twibell “Excellence in Leadership” Memorial Scholarship The Robert Chenoweth and John Z. Andree Memorial Scholarship The Shelly M. Parpart Memorial Scholarship The Generational Impact Scholarship The Mary Marvin Ministerial Scholarship

3,315,051 $140,653,164

$7,879,366

The John and Jill Bowling Scholarship The Reverend T. Wesley Burns Memorial Scholarship The Theodore R. & Beverley J. Lee Scholarship The Ruth McClain Boothe Memorial Scholarship The Delmar R. Lafevor Chemistry Scholarship The Brenda P. Williams Scholarship The Mary Margaret Reed Scholarship The HB Brothers ’88 Student Scholarship The Harry & Barbara Miles Family Scholarship Fund The Martin D. “Skip” Walker Engineering Scholarship The McGraw STEM Student Engagement Program The University Orchestra Principal Chair Scholarship ANNUAL REPORT 2021

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D O N O R ST O RY

Persevering for a Higher Purpose ANITA DEVERS From her first connection with Olivet Nazarene University as a teenager exploring her options for higher education, Anita Devers felt an affinity for the college. She knew that a Christian education would further build a faith foundation that would serve her personally and professionally throughout her life — and though the road has not always been easy, following the Lord has been a joy.

After experiencing the horrendous loss of her first husband during their time as Olivet students, Anita continued pursuing her studies with confidence, knowing that the Lord was preparing her way forward. She balanced taking care of three young children, working fulltime as an executive assistant and taking night classes at Olivet — sure that the experiences were worthwhile despite the hardship and sacrifice.

Anita eventually remarried. She and her new husband, Scott Devers, moved to Michigan to be close to family. Although she didn’t finish her undergraduate degree at Olivet, her time at the

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ANNUAL REPORT 2021

STORY BY LAUREN BEATTY

University made a huge impact on her life and the lesson of persevering for a higher purpose has stuck with her.

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Together she and Scott spent many years raising their combined family of six children, serving in their local church and buying and fixing up residential rental properties. The labor of love provided not only something to do together and quality housing options in their community, but also gave some financial freedom to save, invest strategically and give generously.

I give in celebration of a great God who has blessed me so abundantly

“Every year we gave something to Olivet,” she reflects. “At first, of course it wasn’t much, but we were both passionate about giving back.”

been an institution full of practices, values and people that she wanted to support. In 2021, Anita gave a significant donation to the University in honor of Scott who passed away a few years ago, and in hopes of continuing Olivet’s Kingdom-oriented mission.

Olivet was a natural non-profit choice for Anita and Scott to support given how the University had supported her as a student. From engaging academic coursework, to a community that surrounded her during a period of loss, to professors who challenged the ways in which she viewed other people and her call as a Christian, Olivet had always

“I give in celebration of a great God who has blessed me so abundantly,” she says.

“If I have any influence on anyone it is to go to a Christian college. It’s not worth the risk to not pursue an ‘Education With a Christian Purpose.’”

MORE CHOICES IN GIVING. MORE IMPACT FOR OLIVET. Customize your contribution through three outstanding options: FUEL THE MISSION

If you would like your gift to make a quick impact and cover the most immediate needs, help fuel the mission by giving through the The Olivet Fund, Leadership Society, annual giving days, Olivet Bridge Scholarships, and crowdfunding initiatives. You know that some needs just can’t wait, and you are ready to act!

FUND EXCELLENCE

For those who want to create exciting opportunities beyond the limits of the operational budget, capital project gifts and program sponsorships are a great way to fund excellence. Just imagine the enhanced quality for students and the unique possibilities that await!

SECURE THE FUTURE

If you would like us to invest your gift, spending just the dividends over time, consider helping to secure the future through endowment giving and the Heritage Society. The Olivet Foundation provides many options for estate gifts, and immediate gifts of cash, stock, and property. Join other forward-thinking donors whose gifts just keep growing!

ONU Wacky Games, 2021

ANNUAL REPORT 2021

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BOARD MEMBERS Olivet Nazarene University

BOARD OF TRUSTEES Dr. Gregg Chenoweth University President Dr. Ron Blake Chairman Dr. Timothy Crump Vice Chairman Dr. Mark Hostetler Secretary Rev. David Anderson Rev. Terry Armstrong Rev. Teresa Baker Rev. Wesley Ball Dr. David Bartley Dr. Cheri Betz Dr. Steven Bohall Rev. Lloyd Brock Mr. Darin Brown Dr. Bill Clark Rev. Jennifer Coffman Dr. Jeff Crowder Dr. Mark Davisson Rev. Chris DeMott Mrs. Darcy Dill Dr. Kevin Donley Mr. DeWayne Doty Rev. Brad Dyrness Rev. Phil Edwards Rev. Shawn Evans Rev. Lane Fosnaugh Rev. Jim Frye Mr. Daniel Garde Mrs. Phyllis German Rev. Daniel Gilmore

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ANNUAL REPORT 2021

Rev. Aaron Gregory Mr. Daniel Hirst Mrs. Lydia Johnson Mr. Douglas Jones Rev. Tim Kellerman Mr. Brad Kennedy Dr. Michael Kitsko Rev. Phil Kizzee Rev. Garrett Lee Mr. Stephen Lyle Rev. Mark McCall Dr. Larry McKain Rev. Darin Nossett Mr. Rick Parks Rev. Rob Prince Mrs. Jill Rice Mr. Ken Roat Mr. Mel Sayes Mr. Ken Schmidt Dr. Stacey Schmidt Mrs. Cheryl Seymour Mrs. Cheryl Sherwood Mr. Ben Smidt Mr. Eric Smith Rev. H. Gordon Smith Mr. Dan Taylor Mrs. Heidi Taylor Dr. Michael Taylor Dr. Cynthia VanSteenburg Dr. Brian Wangler Dr. David Williams Rev. Daniel Wine

The members of the Board of Trustees, Foundation Board and Alumni Board served this year with dedication and tenacity. They have distinguished themselves as committed stewards of Olivet, leading the way during the first presidential transition in 30 years.

We are grateful for their wisdom and influence.

Olivet Nazarene University

FOUNDATION BOARD Dr. Gregg Chenoweth University President Dr. David Pickering Executive Director Mr. Mel Sayes Chairman Dr. Dan Rexroth Vice Chairman Mr. Don Dreisbach Secretary Dr. Jeriel Beard Mrs. Joyce Burggraf Mr. Richard Dykhouse, Sr. Mr. Harvey Gifford Mr. Barry Huebner Mr. Julian Jarvis Mr. George Kalemkarian Rev. David McCool Mr. Mick McGraw Mrs. Beth Pennington Mr. Chris Shride Mr. Kevin Sims Dr. William Slattery III Mr. Don Walker Dr. John Workman Ex-Officio Members Dr. Ron Blake Dr. Brian Allen Olivet Nazarene University

ALUMNI BOARD Dr. Gregg Chenoweth ‘90 University President

Dr. Brian Allen ‘82 Vice President for Institutional Advancement Mr. Erinn Proehl ’13 Director of Alumni Relations Mr. Dan Taylor ‘79 Alumni Association President Mrs. Lisa Garvin ‘90 Alumni Association Vice President Mr. Tim Alderson ‘75 Secretary/Historian Rev. Phil Kizzee ‘83 Trustee Ministerial Representative Mr. Ben Smidt ‘07 Trustee Lay Representative Mr. Matt Buller Mr. LaMorris Crawford Mrs. Lisa Evans Mr. Jordan Gallup Mr. Doug Glade Mrs. Melissa Guerdan Dr. Tony Hoovler Mrs. Katie Jimenez Mrs. Lauren Larsen Mr. Scott Lingle Mrs. Jana McKinley Dr. Cassie Mecklenburg Mr. Michael Neal Dr. Chris Peal Mr. Bill Religo Mrs. Jordan Schriver Mrs. Mary Shoff Dr. Jessica Swanson Mr. Ryan Walker Mrs. DeAnn Winter

In September 2020 we called upon our Olivet alumni and friends to recommend high school students in their circle of influence. We reached our goal of 5,000 high school student recommendations and now have a strong network of over 600 Olivet Advocates. We have YOU to thank! We have recently launched a new campaign and would love for you to recommend a high school senior so that they will have the chance to win a $2,000 scholarship for their Olivet education!

Learn more at olivet.edu/advocate

O L I V E T. E D U