2026-05-15T09:56:40+00:00 2025-06-30 440160260 Forvis Mazars LLP 111 E Wayne Street Suite 600 Fort Wayne IN 46802 990 2024-07-01 381459365 OLIVET COLLEGE OLIV 2697497000 320 SOUTH MAIN STREET OLIVET MI 49076 KARA GILLIARD CFO 2697497000 2026-05-15 true true Lauren Denton P01571860 2604604000 2025-05-15 2024 2025-03-06 01:10:19Z THE UNIVERSITY OF OLIVET KARA GILLIARD 320 S MAIN STREET BUSINESS OF OLIVET MI 49076 56097058 false X WWW.UOLIVET.EDU X 1920 MI PROVIDE UNDERGRADUATE AND GRADUATE INSTRUCTION, BOTH IN PERSON AND ONLINE. 31 31 588 31 0 0 5079668 3545169 37460438 37623215 441997 4094344 30908 50141 43013011 45312869 18183534 17543997 0 15322253 15692153 27250 0 688020 13391407 16060774 46924444 49296924 -3911433 -3984055 78829826 79301204 36695526 43019553 42134300 36281651 X TO PROVIDE A UNIQUE LIBERAL ARTS EDUCATION ALLOWING STUDENTS TO ENGAGE IN BOTH CURRICULAR AND CO CURRICULAR PROGRAMS THAT COMBINE REAL WORLD EXPERIENCES WITH LECTURES AND SERVICE LEARNING. false false 17453997 17543997 FINANCIAL AID IN VARIOUS FORMS TO ASSIST INDIVIDUALS IN FINANCING THEIR UNDERGRAUATE EDUCATION. 944 STUDENTS BENEFITTED. 9663840 7898978 NON-EDUCATIONAL EVENTS FOR STUDENTS - CO-CURRICULAR PROGRAMS OFFERED TO STUDENTS. THIS INCLUDES ATHLETICS AND STUDENT LIFE EVENTS TO ENHANCE THE EDUCATIONAL EXPERIENCE. 8420052 28231189 INSTRUCTION AND RELATED SUPPORT - PROVIDING A LIBERAL ARTS UNDERGRADUATE EDUCATION. 851 UNDERGRADUATE STUDENTS ENROLLED IN FISCAL YEAR 2024-25. 6993667 1543189 AUXILIARY - ROOM, BOARD, ATHLETICS AND SPIRIT STORE FOR STUDENTS OBTAINING THEIR UNDERGRADUATE EDUCATION. 6993667 1543189 42531556 true true false false false false false false false true true false false true true true false true true false false false false true true false false false true false false false false false false false false false false false false false false false true false false false false false true 955 0 true 588 true true true false false false false true true false false false false false false X 31 31 false false false false false false false true true false false false true true true true true false true true false false MI X KARA GILLIARD 2697497000 320 SOUTH MAIN STREET OLIVET MI 49076 DR MARGARET DIMOND VICE CHAIR 2.0 X X 0 0 0 DR SHARON HOBBS SECRETARY 2.0 X X 0 0 0 DR TIMOTHY HODGE CHAIR 2.0 X X 0 0 0 JEFF WILDERN TREASURER 3.0 X X 0 0 0 ALBERT ROSENTHALER TRUSTEE 2.0 X 0 0 0 AUDRA CARSON TRUSTEE 2.0 X 0 0 0 BREANNA O'KEEFE TRUSTEE 2.0 X 0 0 0 CHUCK MEFFORD TRUSTEE 2.0 X 0 0 0 DAVID LABRECQUE TRUSTEE AT-LARGE 2.0 X 0 0 0 DENISE P HOOD TRUSTEE 2.0 X 0 0 0 DR ALYSSA KENISTON TRUSTEE 2.0 X 0 0 0 DR DARLENE LEE TRUSTEE 2.0 X 0 0 0 DR JOHN SCHWARZ TRUSTEE 2.0 X 0 0 0 DR JUSTIN KLAMERUS TRUSTEE 2.0 X 0 0 0 DR STEPHEN BURTON TRUSTEE 2.0 X 0 0 0 G ASENATH ANDREWS TRUSTEE 2.0 X 0 0 0 JAMES ROSE JR TRUSTEE 2.0 X 0 0 0 JAMEY FITZPATRICK TRUSTEE 2.0 X 0 0 0 JASON CONKIN TRUSTEE 2.0 X 0 0 0 JOHN JONES TRUSTEE AT-LARGE 2.0 X 0 0 0 KAREN PRESTON TRUSTEE 2.0 X 0 0 0 KAY KOSSEN TRUSTEE 2.0 X 0 0 0 LINDA HARLESTON-EATON TRUSTEE AT-LARGE 2.0 X 0 0 0 MIKE DIETERLE TRUSTEE 2.0 X 0 0 0 PAMELA HEOS TRUSTEE 2.0 X 0 0 0 ROD HATHAWAY TRUSTEE 2.0 X 0 0 0 SARA WALLACE TRUSTEE 2.0 X 0 0 0 SARAH JENNINGS TRUSTEE 2.0 X 0 0 0 SUE TOPPING TRUSTEE 2.0 X 0 0 0 THOMAS BURKE TRUSTEE 2.0 X 0 0 0 VERONICA MURFF TRUSTEE 2.0 X 0 0 0 CORNELIUS DARCY VP ENROLLMENT MANAGEMENT 40.0 X 0 0 0 DR STEVEN COREY PRESIDENT 40.0 X 0 0 0 MARK DERUITER VP/CFO 40.0 X 0 0 0 PAUL BURKHARDT PROVOST 40.0 X 0 0 0 RYAN SHOCKEY VP/CHIEF OF STAFF 40.0 X 0 0 0 VICKI STOUFFER VP FOR ADVANCEMENT 40.0 X 0 0 0 BARRY POULSON FACULTY 40.0 X 0 0 0 DENNIS FRANK PROGRAM DIRECTOR, COUNSELING 40.0 X 0 0 0 KAREN CHANEY ASSOC. PROVOST 40.0 X 0 0 0 KIRK HENDERSHOTT-KRAETZER FACULTY 40.0 X 0 0 0 PHILLIP REED FACULTY 40.0 X 0 0 0 0 0 0 0 false false false CHARTWELLS DINING SERVICES 450 S MAIN ST OLIVET MI 49076 FOOD SERVICE TL CONTRACTING 16803 INDUSTRIAL PARKWAY LANSING MI 48906 CONSTRUCTION Presidio Networked Solutions Group LLC 625 KENMOOR AVE STE 309 GRAND RAPIDS MI 49546 IT TECHNOLOGY GORDON CONSTRUCTIONS SERVICES 2929 Covington Ct Lansing MI 48912 CONSTRUCTION DK's Complete Home Improvement LLC 240 S WAVERLY RD LANSING MI 48917 CONTRACTOR 0 3545169 3545169 TUITION AND FEES 611600 28231189 28231189 AUXILLARY REVENUE 611600 7750352 7750352 ACTIVITIES REVENUE 611600 760452 760452 MISCELLENOUS PROGRAM REVENUE 611600 881222 881222 0 0 0 0 37623215 606007 606007 0 0 14178939 10690602 3488337 0 3488337 3488337 143728 93587 50141 50141 0 0 0 0 0 45312869 37673356 0 4094344 X 17543997 17543997 13320097 10891155 2074827 354115 113913 91781 18914 3218 1336459 1076792 221907 37760 921684 742606 153037 26041 53083 53083 6918533 4545699 2276168 96666 195341 31345 163996 1140832 776572 287363 76897 760259 733650 22047 4562 1046024 1017820 23908 4296 516384 445077 40660 30647 94163 85196 7722 1245 1024242 988394 29703 6145 2526115 2437701 73257 15157 487952 165847 322105 MAINTENANCE EXPENSE 326983 325117 1615 251 FOOD SERVICE 167979 136403 25042 6534 ACTIVITIES EXPENSE 208767 208767 SPECIAL EVENTS 78070 54270 732 23068 516047 323367 191262 1418 49296924 42621556 5987348 688020 1950 1950 5566206 7508947 0 586747 1506142 976990 0 0 0 0 265997 202902 219890 235783 37320 120849 91047924 43243009 48278126 47804915 18716618 17307153 0 0 4237577 4554968 78829826 79301204 3466872 2107207 0 0 26425520 31732640 6803134 9179706 36695526 43019553 X 14076428 6983241 28057872 29298410 42134300 36281651 78829826 79301204 X -3984055 -2091560 -63376 286342 X false true true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 23100006 420955 1599790 949164 24171587 21092115 202064 2795750 847965 0 141958 23100006 18556185 1139033 2467741 970193 100651 21092115 22438806 264167 -3010584 997010 139194 18556185 18844843 189936 5255494 835507 873724 142236 22438806 0.063 0.28 0.657 false false 508615 508615 59651509 20705717 38945792 15375829 11914404 3461425 15511971 10622888 4889083 47804915 SPLIT INTEREST AGREEMENT 4554968 4554968 Federal Income Taxes STUDENT DEPOSITS 330790 SPLIT-INTEREST AGREEMENTS 653285 GIFT ANNUITIES 80066 LINE OF CREDIT 7704884 OUTSTANDING CHECKS 410681 9179706 X 26004158 -2091560 379929 -1711631 27715789 53083 17543997 17597080 45312869 31793431 93587 93587 31699844 53083 17543997 17597080 49296924 Schedule D, Part V, Line 4 Intended uses of endowment funds THE INTENT OF THE UNIVERSITY IS TO USE THE INCOME AND A PORTION OF THE APPRECIATION OF THE ENDOWMENT FUNDS TO SUPPORT THE PROGRAMS OF THE UNIVERSITY. DONORS HAVE RESTRICTED MUCH OF THE ENDOWMENT TO SUPPORT SPECIFIC PROGRAMS AND THE UNIVERSITY HONORS SUCH RESTRICTIONS. THE LARGEST RESTRICTED FUNDS ARE FOR SCHOLARSHIPS. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 COST OF GOODS SOLD - 93587 CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS - 286342 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements STUDENT AID RECLASS - 17543997 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 COST OF GOODS SOLD - 93587 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements STUDENT AID RECLASS - 17543997 true true true true true true true false false false false false false false false false false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY THE UNIVERSITY OF OLIVET MISSION STATEMENT INCLUDES A NON-DISCRIMINATORY POLICY. THIS MIISSION STATEMENT IS SENT TO ALL PROSPECTIVE/CURRENT STUDENTS AND IS READILY AVAILABLE THROUGH THE ADMISSIONS PROCESS. IT IS AVAILABLE ON PAGES 128-133 OF THE STUDENT HANDBOOK LOCATED AT UOLIVET.EDU MARKETSMART 6404 IVY LANE SUITE110 GREENBELT MD 20770 DONOR ENGAGEMENT SOFTWARE false DWYER PHILANTHROPY 697 STONERIDGE DRIVE ADRIAN MI 49221 CONSULTING SERVICES false 0 0 0 Schedule G, Part I, Line 2b(v) payment of fees or payment of expenses MARKETSMART-N/A;DWYER PHILANTHROPY-N/A; true FINANCIAL AID AND SCHOLARSHIPS 944 17543997 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds FINANCIAL AID AND SCHOLARSHIPS ARE FOR OLIVET COLLEGE STUDENTS ENROLLED AND ATTENDING CLASSES. RECIPIENTS ARE SELECTED BASED ON ESTABLISTED MERIT AND NEED BASED CRITERIA. FINANCIAL AID AND SCHOLARSHIPS ARE MONITORED FOR APPROPRIATE USE BY VALIDATING REGISTRATION AND SATISFACTORY PROGRESS TOWARDS COMPLETION OF EDUCATIONAL REQUIREMENTS. INDEPENDENT AUDITORS REVIEW ACCURACY OF FINANCIAL AID AWARDS AND RECIPIENTS' RECORDS. ALL RECORDS ARE RETAINED BY THE UNIVERSITY. Form 990, Part III, Line 4a-4c Description of program services (Expenses $ 6,993,667 including grants of $)(Revenue $ 1,543,189) AUXILIARY - ROOM, BOARD, ATHLETICS AND SPIRIT STORE FOR STUDENTS OBTAINING THEIR UNDERGRADUATE EDUCATION. Form 990, Part VI, Line 11b Review of form 990 by governing body THE 990 IS RECEIVED BY THE CFO FROM THE THIRD-PARTY PREPARER AND IT IS REVIEWED AND DISCUSSED WITH THE PRESIDENT. A COPY OF THE 990 IS MADE AVAILABLE BY E-MAIL TO THE RESOURCES COMMITTEE WITH AN OPPORTUNITY FOR COMMENTS OR QUESTIONS. THE BOARD OF TRUSTEES HAS DELEGATED AUTHORITY AND RESPONSIBILITY FOR APPROVING THE 990 TO THE RESOURCES COMMITTEE OF THE BOARD. THE 990 IS REVIEWED BY THE RESOURCES COMMITTEE AND IS DISCUSSED AT A RESOURCES COMMITTEE MEETING. ONCE THE 990 IS REVIEWED AND APPROVED BY THE RESOURCES COMMITTEE, IT IS PROVIDED TO THE FULL BOARD AND FILED. Form 990, Part VI, Line 12c Conflict of interest policy ANNUALLY, IN OCTOBER, EACH TRUSTEE IS REQUIRED TO COMPLETE FORMS DISCLOSING ANY CONFLICT OR POTENTIAL CONFLICT. THE FORMS ARE REVIEWD BY THE ASSISTANT TO THE PRESIDENT, ANY DISCLOSED CONFLICT OR POTENTIAL CONFLICT IS THEN REPORTED TO THE PRESIDENT AND THE CHAIR OF THE BOARD OF TRUSTEES. THE POLICY ALSO REQUIRES TRUSTEES TO DISCLOSE CONFLICTS OR POTENTIAL CONFLICTS AT THE EARLIEST PRACTICAL TIME. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE PROCESS FOR DETERMINING COMPENSATION OF THE PRESIDENT OF THE UNIVERSITY IS COMPLETED PERIODICALLY. THE CHAIR OF THE BOARD GATHERS COMPARABLE DATA FROM LIKE INSTITUTIONS. THE DATA IS REVIEWED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. THEY THEN APPROVE PERFORMANCE AND COMPENSATION FOR THE PRESIDENT. Form 990, Part VI, Line 15b Process to establish compensation of other employees THE HUMAN RESOURCE DEPARTMENT PERFORMS BENCHMARKING STUDIES OF ALL POSITIONS USING INDUSTRY DATA OF SIMILAR SIZED INSTITUTIONS. THESE BENCHMARKS ARE USED ALONG WITH EMPLOYEE EVALUATIONS TO DETERMINE COMPENSATION OF ALL STAFF INCLUDING OFFICERS AND KEY EMPLOYEES. Form 990, Part VI, Line 19 Required documents available to the public ALL INFORMATION IS AVAILABLE UPON REQUEST. FORM 990 IS ALSO POSTED ANNUALLY ON GUIDESTAR'S WEBSITE. THE 990 IS PUBLIC INFORMATION THROUGH THE MICHIGAN ATTORNEY GENERAL'S OFFICE. Form 990, Part IX, Line 11g Other Fees PROFESSIONAL FEES - Total Expense: 6918533, Program Service Expense: 4545699, Management and General Expenses: 2276168, Fundraising Expenses: 96666; Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS - 286342; Total - 286342; RED & WHITE HOSPITALITY LLC 320 SOUTH MAIN STREET OLIVET MI 49076 831827104 HOSPITALITY MI 0 2214 OLIVET COL