The University of Olivet

Legal name: Olivet College

Nonprofit profile at a glance

EIN
381459365
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Olivet, MI, USA
Phone
269-749-7000
Rating
90
Verdict
STRONG
Rating confidence
Standard
Sector
Undergraduate College (4-year)

Official website

Reported finances

Revenue
$45,312,869
Expenses
$49,296,924
Assets
$79,301,204
Liabilities
$43,019,553

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

Leadership & pay

42 people listed

Executive titles in this filing

  • DR STEVEN COREY (PRESIDENT)

People named in this filing

  • DR MARGARET DIMOND (VICE CHAIR)
  • DR SHARON HOBBS (SECRETARY)
  • DR TIMOTHY HODGE (CHAIR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

We wish simply to do good to our students, by placing in their hands the means of intellectual, moral and spiritual improvement, and to teach them the divine art and science of doing good.

What it reported doing in 2024

Non-educational events for students - co-curricular programs offered to students. This includes athletics and student life events to enhance the educational experience.

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 59% for direct work, and 41% for grants.

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: 87
  • Transparency & Controls: 100
  • Accountability: 94
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 86.5%; rating input score 86
  • Fundraising efficiency: $5.15 raised per $1 spent on fundraising; rating input score 21; 21st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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; 66th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -8.8%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 1.61; rating input score 54; 54th percentile among comparable filings
  • Liabilities to assets ratio: 0.54; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 4.6% per year; rating input score 100; 38th percentile among comparable filings
  • Revenue growth: 3.1% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: 4.4% per year; rating input score 100; 31st percentile among comparable filings

Details

  • What they do: 1 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 100% of revenue deployed · 86.5% of spending went to programs
  • Governance: 31 of 31 board members independent · 6 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $42.5M in reported program spending
  • Leadership: top reported pay $0 · 42 people listed
  • Highest-paid contractors: 5 contractors listed
  • Consistency: 33 of 33 current checks pass
  • Schedules: 8 filed schedules · includes major donors and grants
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 1 filed related-organization link
  • 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 11/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 54/100.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.