Mount Vernon Nazarene University

Analysis

Mount Vernon Nazarene University is a registered charity in United States, based in Mount Vernon, OH. It received its IRS tax-exemption ruling in July 1963, 63 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Mount Vernon Nazarene University reported income of $65.9m and spending of $65.0m, spending 99% of its income. Across the 6 years on record, from May 2019 to June 2023, income grew from $57.5m to $65.9m (+15%), an average of +2.8% a year. The sharpest change came in the year to June 2020, when income rose by 1924%. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Mount Vernon Nazarene University sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within OH. Charities of a similar size with the same main cause include Collegiate School Inc ($65.8m), Rivier University ($65.9m) and Big Shoulders Fund ($65.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 14% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $494k (0.8% of expenses). Other salaries and wages came to $16.8m. At year end it held assets of $104.9m against liabilities of $12.2m, net assets of $92.7m. It reported 1,145 employees.