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Nonprofiteer
← MOUNT VERNON NAZARENE UNIVERSITY

Form 990 for tax year 2022

Filed by MOUNT VERNON NAZARENE UNIVERSITY.

Totals

Total revenue
$65,850,690
Total expenses
$64,990,645
Contributions and grants received
$9,478,411
Grants paid
$26,595,771
Program service revenue
$53,280,013
Investment income
$2,873,936
Other revenue
$218,330
Total assets, end of year
$104,873,942
Total liabilities, end of year
$12,169,662
Net assets or fund balances, end of year
$92,704,280
Program services expenses (Part IX)
$58,735,766
Management and general expenses
$4,825,371
Fundraising expenses
$1,429,508
Program service expenses (Part III)
$58,735,766

Program services were 90.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $4,536,857

  • 1f · All other contributions, gifts and grants

    $4,941,554

  • 1g · Noncash contributions included above

    $23,830

  • 2a · Program service revenue: STUDENT TUITION AND FEES

    total $43,658,223 · related or exempt $43,658,223

  • 2b · Program service revenue: STUDENT HOUSING AND FOOD SERVICES

    total $8,357,214 · related or exempt $8,357,214

  • 2c · Program service revenue: STUDENT ORGANIZATION AND ACTIVITY REVENUE

    total $705,012 · related or exempt $705,012

  • 2d · Program service revenue: AUXILIARY EXEMPT FUNCTION REVENUE

    total $559,564 · related or exempt $559,564

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $2,197,051 · excluded $2,197,051

  • 6a · Gross rents

    real property $141,304 · personal property $8,100

  • 6b · Less rental expenses

    real property $12,229 · personal property $3,324

  • 6c · Rental income or loss

    real property $129,075 · personal property $4,776

  • 6d · Net rental income or loss

    total $133,851 · unrelated business $4,776 · excluded $129,075

  • 7a · Gross sales of assets other than inventory

    securities $17,052,669 · other assets $702,899

  • 7b · Less cost or other basis and sales expenses

    securities $17,052,669 · other assets $26,014

  • 7c · Gain or loss

    securities $0 · other assets $676,885

  • 7d · Net gain or loss

    total $676,885 · excluded $676,885

  • 11a · Other revenue: VENDING, PRINTING & COPYING COMMISSIONS

    total $9,253 · excluded $9,253

  • 11b · Other revenue: GRAND HOTEL INCOME (LOSS)

    total $75,226 · unrelated business $75,226

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $84,479

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $13,585 · program services $13,585

  • 2 · Grants to domestic individuals

    total $26,565,911 · program services $26,565,911

  • 3 · Grants to foreign organizations and individuals

    total $16,275 · program services $16,275

  • 5 · Compensation of officers, directors and key employees

    total $493,713 · program services $20,990 · management and general $472,723

  • 6 · Compensation of disqualified persons

    total $269,023 · program services $250,906 · management and general $18,117

  • 7 · Other salaries and wages

    total $16,841,315 · program services $12,639,898 · management and general $3,579,018 · fundraising $622,399

  • 8 · Pension plan contributions

    total $260,620 · program services $207,222 · management and general $41,970 · fundraising $11,428

  • 9 · Other employee benefits

    total $3,343,254 · program services $2,019,820 · management and general $1,198,179 · fundraising $125,255

  • 10 · Payroll taxes

    total $1,157,543 · program services $817,410 · management and general $310,692 · fundraising $29,441

  • 11b · Fees: legal

    total $27,095 · program services $1,000 · management and general $26,095

  • 11c · Fees: accounting

    total $112,283 · management and general $112,283

  • 11f · Fees: investment management

    total $85,009 · management and general $85,009

  • 11g · Fees: other

    total $2,510,942 · program services $2,066,587 · management and general $362,641 · fundraising $81,714

  • 12 · Advertising and promotion

    total $896,972 · program services $825,652 · management and general $13,625 · fundraising $57,695

  • 13 · Office expenses

    total $1,793,218 · program services $1,110,572 · management and general $564,332 · fundraising $118,314

  • 14 · Information technology

    total $1,040,051 · program services $259,146 · management and general $724,913 · fundraising $55,992

  • 16 · Occupancy

    total $1,757,753 · program services $192,106 · management and general $1,563,847 · fundraising $1,800

  • 17 · Travel

    total $984,373 · program services $787,074 · management and general $20,808 · fundraising $176,491

  • 19 · Conferences, conventions and meetings

    total $156,013 · program services $126,309 · management and general $22,594 · fundraising $7,110

  • 20 · Interest

    total $260,153 · management and general $260,153

  • 22 · Depreciation, depletion and amortization

    total $3,052,664 · management and general $3,052,664

  • 23 · Insurance

    total $605,670 · management and general $605,670

  • 24a · Other expenses: FOOD SERVICE / STUDENT HEALTH INSURANCE

    total $2,426,024 · program services $2,426,024

  • 24b · Other expenses: CURRICULUM EXPENSES

    total $194,641 · program services $194,641

  • 24c · Other expenses: ALLOCATION OF ITS AND FACILITY SERVICES

    total $0 · program services $8,203,365 · management and general -$8,345,234 · fundraising $141,869

  • 24d · Other expenses: UNCOLLECTIBLE STUDENT RECEIVABLES

    total -$8,727 · program services -$8,727

  • 24e · All other expenses

    total $135,272 · program services $0 · management and general $135,272 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $22,134 · end of year $317,708

  • 2 · Savings and temporary cash investments

    beginning of year $14,566,313 · end of year $13,020,483

  • 3 · Pledges and grants receivable

    beginning of year $689,624 · end of year $1,162,718

  • 4 · Accounts receivable

    beginning of year $889,218 · end of year $693,050

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $716,781 · end of year $532,475

  • 8 · Inventories for sale or use

    beginning of year $126,874 · end of year $134,940

  • 9 · Prepaid expenses and deferred charges

    beginning of year $751,338 · end of year $1,207,178

  • 10a · Land, buildings and equipment: cost or other basis

    $127,832,148

  • 10b · Land, buildings and equipment: accumulated depreciation

    $69,749,898

  • 10c · Land, buildings and equipment, net

    beginning of year $59,910,009 · end of year $58,082,250

  • 11 · Investments: publicly traded securities

    beginning of year $25,142,160 · end of year $29,697,624

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $26,625 · end of year $25,516

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,882,180 · end of year $2,935,687

  • 19 · Deferred revenue

    beginning of year $1,678,532 · end of year $1,476,394

  • 20 · Tax-exempt bond liabilities

    beginning of year $7,200,233 · end of year $7,176,723

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $246,465 · end of year $153,614

  • 25 · Other liabilities

    beginning of year $655,808 · end of year $427,244

  • 27 · Net assets without donor restrictions

    beginning of year $68,203,147 · end of year $69,008,907

  • 28 · Net assets with donor restrictions

    beginning of year $21,974,711 · end of year $23,695,373

Mission and programs · 2022

Mission

Mount Vernon Nazarene University is an accredited four-year liberal arts University that confers two- and four-year degrees and graduate degrees in a variety of academic disciplines. In addition, it provides logistical support for the educational and theological efforts of the Church of the Nazarene and other like-minded religious and educational organizations.

Activities or mission (Part I)

Mount Vernon Nazarene University is an accredited four year liberal arts University that confers two and four year degrees and graduate degrees in a variety of academic disciplines. In addition, it provides logistical support for the educational and theological efforts of the Church of the Nazarene and other like-minded religious and educational organizations.

  • The University is a four-year institution of higher education offering the degrees of Associate in Arts, Associate in Applied Science, Bachelor of Arts, Bachelor of Science, Masters of Business Administration, Masters of Science in Management, Master of Arts in Education, and such other Baccalaureate and Graduate degrees as may be authorized by the Board of Trustees of the University, and permitted by the State of Ohio and the Higher Learning Commission; Member - North Central Association. For the year ended June 30, 2023 the University conferred 500 undergraduate and graduate degrees. Average Institution-based financial aid for traditional students was $21,418 compared with total direct costs of $47,410. Average enrollment head count was 1,883 students.

    Expenses $58,628,062 · Grants $26,595,771 · Revenue $53,153,985

  • The University provides logistical and facility support for like-minded religious and educational organizations. Organizations historically served include The North Central Ohio District Church of the Nazarene, the National Christian School Athletic Association, the YMCA Great Lakes Leaders Training School, area primary and secondary schools, local first responder organizations and many others. During the year ended June 30, 2023, the University's efforts in this Program Service area were slowly returning to prior years' level preceding COVID-19 pandemic.

    Expenses $107,704 · Revenue $126,028

As filed on the 2022 return.

Listed in Part VII

  • Edward J Phillips

    CHAIRPERSON, BOARD OF TRUSTEES (Beg 11/2022)

    Total calculated
    $0
    Hours/week
    3

  • Larry J Hammond

    SECRETARY, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    2

  • Robert J Mahaffey

    VICE-CHAIR, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    2

  • Adam M Carr

    MEMBER, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Angela L Castleman

    MEMBER, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Bret M Layton

    MEMBER, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Cathy M Manson

    MEMBER, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Christopher Weghorst

    MEMBER, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • D Geoffrey Kunselman

    MEMBER, BOARD OF TRUSTEES (thru 3/2023)

    Total calculated
    $0
    Hours/week
    1

  • Daryl L Blank

    MEMBER, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • David B Lutz

    MEMBER, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Deborah Monroe

    MEMBER, BOARD OF TRUSTEES (thru 8/2022)

    Total calculated
    $0
    Hours/week
    1

  • Douglas S Wyatt

    MEMBER, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Douglas W Boquist

    MEMBER, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Dwayne P Mills

    MEMBER, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • J Kevin Dennis

    MEMBER, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • James D Radcliffe

    MEMBER, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Kari Taylor

    MEMBER, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Kathy G Greenich

    MEMBER, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Laura E Crouch

    MEMBER, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Mark Maddux

    MEMBER, BOARD OF TRUSTEES (Beg 8/2022)

    Total calculated
    $0
    Hours/week
    1

  • Paige Graves

    MEMBER, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Robert S Mahaffey

    MEMBER, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Russell Bailey

    MEMBER, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Samuel Barber

    MEMBER, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Thomas G Messenger

    MEMBER, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Wendell D Brown

    MEMBER, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    1

  • Amy Kovach

    VP FOR ACADEMIC AFFAIRS, CAO

    Total calculated
    $75,327
    From this org
    $65,698
    From related orgs
    $0
    Other
    $9,629
    Hours/week
    40

  • B Barnett Cochran

    VP FOR ACADEMIC AFFAIRS, CAO (thru 6/2022)

    Total calculated
    $88,453
    From this org
    $81,247
    From related orgs
    $0
    Other
    $7,206
    Hours/week
    40

  • Henry W Spaulding

    PRESIDENT, CEO

    Total calculated
    $275,281
    From this org
    $202,652
    From related orgs
    $0
    Other
    $72,629
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $179,020
    Bonus
    $0
    Other
    $23,632
    Deferred
    $26,371
    Nontaxable benefits
    $46,258
    Filer's total
    $275,281

  • Scott L Campbell

    VP FOR FINANCE, CFO

    Total calculated
    $153,821
    From this org
    $126,543
    From related orgs
    $0
    Other
    $27,278
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,543
    Bonus
    $0
    Other
    $0
    Deferred
    $3,863
    Nontaxable benefits
    $23,415
    Filer's total
    $153,821

  • James W Smith

    VP FOR UNIVERSITY RELATIONS

    Total calculated
    $173,652
    From this org
    $118,656
    From related orgs
    $0
    Other
    $54,996
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $111,080
    Bonus
    $0
    Other
    $7,576
    Deferred
    $3,708
    Nontaxable benefits
    $51,288
    Filer's total
    $173,652

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Housing allowance or residence for personal use
For Henry W. Spaulding, II: Housing is provided, on a taxable basis, in a residence owned by the University. For Henry W. Spaulding and James W. Smith, a ministerial housing allowance was provided. This benefit is not taxable for federal income tax purposes, but is considered taxable self-employment income for SECA purposes. All employees with qualifying ministerial credentials are eligible for this benefit.
Schedule J, Part I, Line 1a Health or social club dues or initiation fees
MVNU has a membership with a social club that Henry W. Spaulding II, President, uses for business purposes. No amount is treated as taxable compensation because it is 100% business use.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • MVNU MANAGEMENT LLC

    HOSPITALITY MANAGEMENT · OH · income $1,640,919 · assets $616,877

    Directly controlled by MOUNT VERNON NAZARENE UNIVERSITY

  • MOUNT VERNON GRAND HOTEL LLC

    REAL ESTATE HOLDING AND MANAGEMENT · OH · income $0 · assets $7,184,686

    Directly controlled by MOUNT VERNON NAZARENE UNIVERSITY

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER TRUST (1)

    Trust · CHARITABLE REMAINDER TRUST · OH · controlled entity

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2022
Filed
13 May 2024
IRS schema version
2022v5.0
Source object
202421349349301242

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