Annual Report 2018

THANKS ANNUAL REPORT

2018

PRESIDENT’S MESSAGE Dear Friends,

Jill and I have dedicated our lives and careers to serving God at Olivet. Our work here is our ministry, our calling and one of our greatest joys.

In addition to giving our best efforts to our assignments, we support Olivet financially. We have chosen, as a couple — as so many Olivet alumni and friends have done — to give on a regular, yearly basis to help fund student scholarships through Friends of Olivet. We love giving in this direction because we know that every dollar goes to young Olivet students who have real needs.

And we extend our thanks and sincere gratitude to each of you, the Olivet family of literally thousands of alumni and friends

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who support the mission of Olivet through your generosity and giving. Your gifts make an enormous difference in the lives of our students.

Olivet continues to be a special place with an important mission.

The University has a storied past and is experiencing a vibrant present. Our focus, however, is not on what was or what is. Rather, we are looking forward to an unfolding future of continued growth and service.

God is with us and for us!

Gratefully,

John C. Bowling President

CONTENTS 3 Thanks to YOU …

8 Olivet’s

6 Challenged to Grow: One Student’s Story

10 Financial Overview

12 Valuing the Olivet Experience: One Donor’s Story

9 ONU Board

11 ONU

14 Higher Education.

Higher Purpose.

ANNUAL REPORT 2018

Core Mission Members

Foundation

THANKS TO YOU…

2017–2018

You are a

difference-maker for students

who depend on your generosity to benefit from the Olivet experience. Thanks for sharing hope!

250

562

858

ACADEMIC

FOUNDATION

undergraduates received

student athletes received

SCHOLARSHIPS

SCHOLARSHIPS

MUSIC

students received ONU

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SCHOLARSHIPS

S C HO L AR S H I P S AWA R D E D $60,693,495 TOTAL

July 1, 2017–June 30, 2018

Scholarships represent a significant portion of the financial aid awarded by the University to 99% of students in fiscal year 2018.

CONTINUED >

OLIVET NAZARENE UNIVERSITY

THANKS TO YOU… CONTINUED

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1,646 undergraduates received

NEED-BASED

GRANTS

ANNUAL REPORT 2018

729 FRESHMEN received academic and need-based grants

2,958 UNDERGRADUATES received Olivet assistance

304 ENGINEERING STUDENTS received Olivet assistance

451 BUSINESS

328 NURSING

received Olivet assistance

received Olivet assistance

STUDENTS

MAJORS

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OLIVET NAZARENE UNIVERSITY

CHALLENGED TO GROW: If I hadn’t come to Olivet, I wouldn’t be the man I am today,” says Daniel Kuruvilla, a senior majoring in management information systems in the McGraw School of Business. “My faith and my life began clicking for me when I came to Olivet.”

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Daniel wasn’t the traditional incoming Olivet freshman. His parents immigrated to Wisconsin from India, and he was one of the first generation of his family to be born in the United States.

He grew up as a Christian in an all-Indian Pentecostal church. He was a Chicago Bears fan, but he had never heard of Olivet before he applied for admission.

What God wanted for Daniel turned out to be much different from what Daniel wanted. He did a lot of his college search online and even toured several college campuses.

But when he visited Olivet’s campus, he immediately saw unmistakable signs of Christ.

“I saw right away that the people and community at Olivet are unique,” he says.

“I decided to go all in on Olivet, on what it means, what it is and what it stands for.”

ANNUAL REPORT 2018

From his first day of Orientation to these final days of his senior year at Olivet, Daniel has experienced learning in the classroom and beyond. “Professors, staff members and friends have challenged me,” he says.

“At Olivet, I’ve learned to think deeper and broaden my worldview in the areas of faith and leadership.”

One of Daniel’s favorite responses to any hesitation he feels from incoming freshmen is: “I’ll trade you places.”

While at Olivet, he has served on the Associated Student Council and been instrumental in launching and continuing the Life at Olivet student activities. He has worked in the Office of Marketing and Engagement and the Office of Student Development.

In his career development,

he completed internships with CSL Behring and United Hospital Systems — while starting and continuing to operate his own photography and video business.

“Some days, I work 12 to 14 hours,” he says. “I’m full in on everything I do. I’m a helper, and I want to help bring happiness to other people’s lives.”

While at Olivet, Daniel benefitted from several significant mentoring relationships. “Dr. Woody Webb and Kathy Steinacker in the Office of Student Development, and Matt Smith and Chelsea Speas in the Office of Recreation Services are like family to me,” he says. “Alumnus Kaleb Miller has been a huge influence in my life since I met him at the beginning of my freshman year. All of these people have poured into me and challenged me to be better.”

Looking back to his first visit to Olivet’s campus, Daniel realizes once again how none of this would have happened without the generosity of scholarships funded by Olivet donors.

“Those scholarships convinced me to come to Olivet,” he says. “I thank each donor for giving me this amazing opportunity to learn how to be a confident leader and follower of Christ.” ■

ONE STUDENT’S OLIVET STORY

Daniel Kuruvilla ’19 is a management information systems major at Olivet.

OLIVET NAZARENE UNIVERSITY

OLIVET’S CORE MISSION M

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any of the fundamental precepts of various academic disciplines are the same across the landscape of higher education, and Olivet is no exception. The pianos in our studios have 88 keys. The periodic tables in our labs have 118 elements. Shakespeare is critical to our study of literature, and Aristotle is central to our understanding of philosophy. We are a university, and education is our daily task.

But at Olivet, students receive so much more than just the transfer of knowledge. The real Olivet difference — setting us apart from so many of the rest — is our mission, our purpose, our calling. We believe higher education should have a higher purpose, and that higher purpose is transformation!

Our aim is to elevate the grand mission of Olivet and illuminate the core tenets of the Olivet experience. May we all once again be startled by the call of our great God to live significant lives and be inspired to revisit our own personal calling.

Let’s be candid. The world does not need just another college or university.

There are 4,500 in the United States alone. But a university dedicated to the cause of Christ, emboldened by the Holy Spirit, and intent on continually sending young women and men into the world as a force for good and for God — now that is a university with a higher purpose! And a purpose worth believing in. That is Olivet.

Taken from Olivet the Magazine, Spring 2018

ANNUAL REPORT 2018

FAITHFUL FRIENDS There was never a “question that we would

give back to Olivet in a financial way. After all, our last name is Legacy!

It is our way to say ‘thank you’ for the place where we studied, fell in love, married and worked.

”

— Jim ’83 and Leora (Windoffer) ’68 Legacy

W

e are grateful for the commitment of those who serve on the Board of Trustees, the Foundation Board and the Alumni Board. Their prayerful governance — along with

the exemplary leadership of our administrative team — guides the University with integrity.

OLIVET NAZARENE UNIVERSITY

BOARD OF TRUSTEES Dr. John C. Bowling University President Dr. David Roland Chairman Dr. Ronald Blake Vice Chairman Dr. Mark L. Hostetler Secretary Rev. David Anderson Rev. Teresa Baker Rev. Jim Ballenger Rev. David Bartley Mr. Mark Bennett Dr. Cheri Betz

Dr. Steven Bohall Mr. Darin Brown Rev. Lloyd Brock Rev. Ken Bushey Dr. Bill Clark Dr. Jeff Crowder Rev. Tim Crump Dr. Mark Davisson Mr. Lance Delbridge Mrs. Darcy Dill Dr. Craig Dillman Mrs. Shelley Doering Dr. Kevin Donley Mr. DeWayne Doty Rev. Phil Edwards

OLIVET NAZARENE UNIVERSITY

Rev. Shawn Evans Rev. Lane Fosnaugh Rev. Jim Frye Dr. W. Glen Gardner Rev. Daniel Gilmore Rev. Jeremy Gomez Rev. Kevin Hardy Mr. Dale Hawkins Rev. Will Haworth Mrs. Cheryl Ice Mr. Douglas Jones Mr. Brad Kennedy Mr. Terry Kochersperger Dr. James Kraemer Dr. Cynthia Lewis Dr. Larry McKain Rev. Randy Owens Mrs. Jill Rice

Mr. Ken Roat Rev. Brian Rogers Dr. Stacey Schmidt Mrs. Cheryl Seymour Rev. Larry Sheets Mrs. Cheryl Sherwood Dr. Scott Sherwood Mr. Eric Smith Rev. Timothy Smith Mrs. Cheryl Soper Mr. Dan Taylor Rev. Lisa Ulrich Dr. Cynthia VanSteenburg Mr. Ryan Walker Rev. Ben Walls, Sr. Rev. Brian Wangler Rev. Daniel Wine

OLIVET NAZARENE UNIVERSITY

FOUNDATION BOARD

ALUMNI BOARD

Dr. John C. Bowling University President

Dr. John C. Bowling ’71 University President

Rev. John Mongerson Director of the Foundation Mr. Mel Sayes Chairman Dr. Dan Rexroth Vice Chairman Mr. David Miller Secretary Dr. Jeriel Beard Mrs. Joyce Burggraf Mr. Donald Dreisbach Mr. Richard Dykhouse, Sr. Mr. Harvey Gifford

Mr. Barry Huebner Mr. Julian Jarvis Mr. George Kalemkarian Dr. Sam Mayhugh Rev. David McCool Mr. Richard McHie Mrs. Phyllis McSwain Dr. R. Mark Phillips Mr. Chris Shride Mr. Kevin Sims Dr. William Slattery III Ex-Officio Members Dr. David Roland Dr. Brian Allen Dr. Douglas E. Perry Dr. David Pickering

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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 Dr. J. Craig Dillman ’82 Elder Trustee Representative Mr. Ryan Walker ’06 Lay Trustee Representative

Mr. Doug Bricker ’81 Mrs. Naomi Colon ’88 Dr. Quen Dickey ’81 Mr. Douglas Glade ’89 Mrs. Melissa Guerdan ’97 Dr. Anthony Hoovler ’88 Mrs. Laura Larson ’08 Mrs. Jana McKinley ’85 Mr. Leon Moore ’72 Mr. Michael Neal ’79 Mrs. Lindsay Peachey ’84 Mrs. Beth Pennington ’75 Mr. Steve Shaffer ’77 Mrs. Mary Shoff ’74 Mrs. Maria Slibeck ’97 Mr. Ben Smidt ’07 Dr. Rod Thill ’86 Mr. Jeff Tripp ’85 Mr. Jeff Williams ’01 Mr. Ted Wozniak ’80 OLIVET NAZARENE UNIVERSITY

FINANCIAL OVERVIEW UNIVERSITY BUDGET SUMMARY July 1, 2017–June 30, 2018

REVENUE

Tuition and Fees . . . . . . . . . . . .

Gifts and Grants . . . . . . . . . . . .

Room and Board . . . . . . . . . . . .

Miscellaneous . . . . . . . . . . . . . .

Auxiliary . . . . . . . . . . . . . . . . . . .

$ 122,358,731 78.7% 10,116,897 6.5% 18,539,223 11.9%

3,063,026 2.0%

1,375,758 0.9% _____________ ________

Total . . . $ 155,453,635

100.0%

EXPENSES

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Instruction . . . . . . . . . . . . . . . . . $ 34,367,393 22.6% Scholarships . . . . . . . . . . . . . . . 59,946,115 39.5% Student Services . . . . . . . . . . . . 16,902,898 11.1% Institutional Support . . . . . . . . . 15,534,716 10.2% Operation and Maintenance . . . 10,672,441 7.0% Auxiliary . . . . . . . . . . . . . . . . . . . 11,076,023 7.3% Debt Reduction . . . . . . . . . . . . . 3,465,327 2.3% _____________ ________ Total . . . $ 151,964,913

100.0%

NET REVENUE BALANCE: $3,488,722

COMBINED GIFT REVENUE UNIVERSITY AND ONU FOUNDATION July 1, 2017–June 30, 2018 (both restricted and unrestricted)

Trustees, Foundation Board, Faculty and Staff. . . . . . . . . . . . $ 2,764,549 20.3% Alumni (General Sources). . . . . . . . 2,052,274 15.1% Parents. . . . . . . . . . . . . . . . . . . . . . 1,288,642 9.5% Friends . . . . . . . . . . . . . . . . . . . . . . 2,344,874 17.3% Churches and Religious Organizations. . . . . . 2,282,086 16.7% Corporations (Matching Funds) . . . . . . . . . . .

145,340 1.1% Corporations and Businesses. . . . 1,966,101 14.5% Foundations. . . . . . . . . . . . . . . . . .

525,922 3.9% Bequests. . . . . . . . . . . . . . . . . . . . .

222,466 1.6% ____________ ________ Total . . . $ 13,592,254

100.0%

Olivet designates approximately 90 percent of all revenue received toward: • Instruction • Institutional Support • Scholarships • Operations/ • Student Services Maintenance ANNUAL REPORT 2018

Olivet Nazarene University is a 501(c)(3) public charity.

The University’s Form 990 is available upon request through the Office of Financial Affairs.

THE ONU FOUNDATION In 2019, the Olivet Nazarene University Foundation marks

50 years of service

to students — thanks to you.

The Foundation secures, manages and distributes funds that assist ONU students. Your investments from endowed gifts — and funds from other planned giving instruments — advance Olivet’s mission today and will benefit future generations of world-changers.

We express our appreciation to those who take advantage of the following options: • Gifts of cash, property, stock or other securities • Gifts in memory or honor of a loved one • Gift Annuities, Bequests, Life Insurance and other retirement assets Every endowed gift is directed by a Gift Agreement between the University and you, the investor. During academic year 2018–2019, $1,372,661 is being awarded to 854 students, averaging $1,607 per student.

NEW ENDOWMENTS E S TA B L I S H E D

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Charles L. and Jean A. Beatty Scholarship James and Lynda Boardman Scholarship Class of 1968 Scholarship Alfred and Mary Cobb Scholarship The Gabriel Scholarship Gaines and Sharon Hall Scholarship Gibson-Vance Scholarship James Gilbert and Pearl Aldridge Hamilton Scholarship Jessica Hemmer Scholarship Linda Meissner Shattuck Scholarship Morse Memorial Scholarship Dr. Max and Carol Reams Endowment Donald W. and Elizabeth Ann Smith Scholarship

Fiscal Year 2018 ONU

Foundation

Gifts: $3,947,709

Fiscal Year 2018 ONU

Foundation

Assets: $51,131,142

OLIVET NAZARENE UNIVERSITY

VALUING THE OLIVET EXPERIENCE: ONE DONOR COUPLE’S STORY Encouraging enthusiasm is part of everything Dan ’79 and Anne (Barker) ’81 Taylor do. From their years as Olivet students to their careers today, they rally others to participate in life and life at Olivet.

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Dan majored in psychology and biblical studies as an Olivet student. In his junior year, he developed an interest in business and also began dating a young lady named Anne, who was a business major. From their first meeting in Ludwig Center on campus to their recent celebration of their 38th wedding anniversary, they have experienced the value of Olivet together.

“At Olivet, I learned that achievement begins with a decision,” Dan says. “If I expected mediocrity, then that’s how I performed. As I set my academic goals and personal standards higher, I achieved much more. This discovery continues to serve me today in all areas of my life.”

Dan is the majority owner of BamBams, a promotional products supplier specializing

ANNUAL REPORT 2018

in sports marketing. Anne works for BAE Systems as a director of cyberdefense in research and development.

Their sons, Ben and Brock ’08, are also a part of the BamBams team. Ben is married to Keeley, and Brock is married to Ashley (James) ’10.

Their daughter, Megan (Taylor) Schmitz ’09, and her husband, Matthew, are parents to their grandchild, Luke.

“I

have seen the University from many perspectives,” Anne says. “I continue to be impressed with its balance of excellence and education, while protecting its mission of Education with a Christian Purpose.

Olivet gives every student the opportunity to grow in their faith along their journey.”

As the current president of Olivet’s Alumni Association, Dan has had the privilege of seeing firsthand Olivet’s impact on students’ lives and the multiplying impact of Olivet on society. “Over the years, we have opened our Virginia home to Olivet students while they were interning or beginning their careers in Washington, D.C.,” he says. “Many of them have also worked for BamBams. What a joy it is for us to see them go into productive lives of service!”

“Olivet prepares students for life in unique ways,” Anne adds. “Those who make the most of their four years at Olivet are ready for the next 40.”

Dan and Anne believe that higher education has a higher purpose. Their dream is to see more Olivet students and alumni make a difference in the world. By investing in Olivet, they are helping prepare global citizens who pursue lives of purpose.

“Olivet needs an army of people who believe in its mission and the value of Christian higher education,” Dan says. “Olivet exists because thousands of donors give what they can. We feel compelled to give what we can to keep the University moving forward.” ■

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Dan ’79 and Anne (Barker) ’81 Taylor

OLIVET NAZARENE UNIVERSITY

HIGHER EDUCATION. HIGHER PURPOSE. “ We seek the strongest scholarship and

the deepest piety, knowing that they are thoroughly compatible (and) … a Christian environment … where not only knowledge but character is sought.” (from the Olivet Catalog of 1915)

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ANNUAL REPORT 2018

THE JOY OF GIVING I was taught in the home to give and share, for God had given us so much,” says Leah Ruth Kensey ’64. “One of the ways I decided to help ONU is with estate planning. Through my legacy, I have a large ‘family!’ I can give from my heart to help those who need financial help.”

Leah is securing an Olivet legacy through her support now and in her estate. You, too, can explore peace-of-mind benefits through:

• A gift in your Will • A Living Trust or “Give-it-Twice” Trust • Other tax- and family-friendly plans Be sure to ask about Heritage Society membership, too!

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Leah Ruth Kensey ’64

YOU STRENGTHEN A CULTURE OF

GENEROSITY!

Personal Development

Professional Readiness

You help deserving Olivet students to become their best selves. Your support for scholarships, spiritual life programs and campus improvements makes the difference.

You ensure excellence for students with a desire to lead.

Your support equips them in more than 140 fields of study — from the mission field to the medical field.

Preparation for Lives of Service You inspire students to live out their faith holistically for God and others. Your support develops servant hearts through career guidance, service learning projects and internships.

OLIVET NAZARENE UNIVERSITY

ANNUAL REPORT

2018

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