Mount Vernon Nazarene University

Nonprofit profile at a glance

EIN
310725957
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Mount Vernon, OH, USA
Phone
7403979000
Rating
84
Verdict
STRONG
Rating confidence
Standard
Sector
University or Technological Institute
Affiliation
Christianity

Official website

Reported finances

Revenue
$69,234,477
Expenses
$71,980,344
Assets
$98,370,027
Liabilities
$9,908,109

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

39 people listed

Executive titles in this filing

  • CARSON CASTLEMAN (PRESIDENT, CEO)

Highest reported compensation

  • CARSON CASTLEMAN (PRESIDENT, CEO): $328,199 total reported compensation
  • SCOTT L CAMPBELL (VP FOR FINANCE, CFO (THRU 1-2025)): $163,771 total reported compensation
  • ERIC STETLER III (VP of Academic Affairs): $163,126 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Mount Vernon Nazarene University exists to shape lives through educating the whole person and cultivating Christ-likeness for lifelong learning and service. A coeducational university of the arts and sciences, MVNU is the official university of the East Central Educational Region of the Church of the Nazarene with sponsorship and support from congregations in Ohio, West Virginia, and the eastern half of Kentucky. Control is delegated to the Board of Trustees elected by the annual assemblies of the Central Ohio, East Kentucky, East Ohio, North Central Ohio, Northwestern Ohio, Southwestern Ohio, West Virginia North and West Virginia South districts. Many of our students come from this church constituency. However, the University welcomes students of like ideals into our theologically diverse university community.

What it reported doing in 2024

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, 2025, the University conferred 395 undergraduate and graduate degrees. Average enrollment head count was 2,048 students.

Operating model

Revenue model
Other-operating. 90% of the money available for current operations came from other operating revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 49% for direct work, and 51% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 84
  • Accountability: 91
  • Sustainability: 38
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.8%; rating input score 94
  • Program expense ratio: 86.9%; rating input score 87
  • Fundraising efficiency: $5.03 raised per $1 spent on fundraising; rating input score 21; 21st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 21st percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 49th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -4%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 1.37; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 1.8%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 2.4% per year; rating input score 100; 18th percentile among comparable filings
  • Revenue growth: 2% per year; rating input score 100; 14th percentile among comparable filings
  • Asset growth: 2.3% per year; rating input score 100; 16th percentile among comparable filings

Details

  • What they do: 1 programs and campaigns described on the official site
  • Where the money goes: 93.8% of revenue deployed · 86.9% of spending went to programs
  • Governance: 25 of 25 board members independent · 7 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $62.6M in reported program spending
  • Leadership: top reported pay $328K · 39 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.1M reported
  • Consistency: 38 of 39 current checks pass · 1 finding to review
  • Schedules: 11 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 21/100.
  • High — Sustainability: Operating margin scored 14/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Review — Sustainability: Officer compensation ratio scored 58/100.