Mount Vernon Nazarene University 
The information on this page was last updated 5/24/2023. If you see errors or omissions, please email: [email protected]
Summary
Mount Vernon Nazarene University is a private, four-year, intentionally Christian teaching university for traditional age students, graduate students and working adults.
MVNU's educational philosophy and purpose are shaped by its Wesleyan-Arminian holiness theological roots, informed by the Bible, focused on Christ-likeness in every aspect of life, and defined by an emphasis on loving God with all of one's heart, mind, soul, and strength, as well as one's neighbors as one's self. Students are nurtured and empowered through caring relationships with faculty, staff, and administrators; challenged to be a devoted disciple of Christ; drawn toward discovery of wisdom and truth in every discipline of study; prepared for leadership in various professions; equipped to be lifelong learners; and sent into the world to live out their faith by offering their hearts and lives in service to God and others.
The University is characterized by an engaging environment where diversity is celebrated and differences in ethnicity, denomination, gender, economic level, and stage of spiritual development are embraced. A spirit of worship unifies the academic, social, and spiritual life of the student body, and the community is shaped through shared commitments, values, and experiences that provide the context for transformation in Christ, individually and collectively. Excellence in vocational pursuits and in character development are viewed as an expression of faithful stewardship, and a lifestyle of compassion is demonstrated as the most effective witness to others of God's love. As students become graduates, the character of Mount Vernon Nazarene University continues to identify them as devoted disciples, servant leaders, learning professionals, and loyal alumni.
Contact information
Mailing address:
Mount Vernon Nazarene University
800 Martinsburg Rd
Mount Vernon, OH 43050
Website: mvnu.edu
Phone: 740-392-6868
Email: [email protected]
Organization details
EIN: 310725957
CEO/President: Dr. Henry W. Spaulding II
Chairman: D. Geoffrey Kunselman
Board size: 8
Founder: Church of the Nazarene and the local community
Ruling year: 1963
Tax deductible: Yes
Fiscal year end: 05/31
Member of ECFA: No
Member of ECFA since:
Purpose
To Change the World with the Love of Christ.
The University's aspiration is that academic and student life activities be integrated in a Wesleyan evangelical tradition to facilitate character, value, and cultural development to improve the quality of life for all through the love of Jesus Christ. The University seeks to enable students to model the attitude expressed in its motto "To seek to learn is to seek to serve." As students experience the educational process, the University strives to enable students to function as competent Christians, citizens, and professionals.
Mission statement
Mount Vernon Nazarene University exists to shape lives through educating the whole person and cultivating Christ-likeness for lifelong learning and service.
Statement of faith
As an institution of the Church of the Nazarene, MVNU stands in the Wesleyan evangelical tradition, as summarized in the "Articles of Faith" in the Manual, Church of the Nazarene. According to this "Agreed Statement of Belief," we believe:
In one God - the Father, Son, and Holy Spirit.
That the Old and New Testament scriptures, given by plenary inspiration, contain all truth necessary to faith and Christian living.
That man is born with a fallen nature and is, therefore, inclined to evil, and that continually.
That the finally impenitent are hopelessly and eternally lost.
That the atonement through Christ is for the whole human race; and that whosoever repents and believes on the Lord Jesus Christ is justified and regenerated and saved from the dominion of sin.
That believers are to be sanctified wholly, subsequent to regeneration, through faith in the Lord Jesus Christ.
That the Holy Spirit bears witness to the new birth and also the entire sanctification of believers.
That our Lord will return, the dead will be raised, and the final judgment will take place.
Donor confidence score
Transparency grade
C
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Colleges/Universities
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 369 of 1104 | 40 of 129 |
| Fund acquisition rating | | 811 of 1105 | 104 of 129 |
| Resource allocation rating | | 165 of 1105 | 16 of 129 |
| Asset utilization rating | | 372 of 1104 | 42 of 129 |
Financial ratios
| Funding ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 9% | 18% | 10% | 22% | 33% | 15% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 2% | 2% | 2% | 2% | 2% | 1% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 22% | 11% | 17% | 8% | 6% | 10% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 2% | 2% | 2% | 2% | 2% | 1% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 78% | 89% | 83% | 92% | 94% | 90% |
| Operating ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Program expense ratio Program expense ratio = Program services / Total expenses | 84% | 89% | 90% | 90% | 91% | 91% |
Spending ratio Spending ratio = Total expenses / Total revenue | 95% | 102% | 87% | 98% | 98% | 98% |
Program output ratio Program output ratio = Program services / Total revenue | 77% | 91% | 78% | 89% | 88% | 89% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 5% | -2% | 13% | 2% | 2% | 2% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 5% | -1% | 9% | 1% | 2% | 1% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 13% | 9% | 8% | 8% | 7% | 8% |
| Investing ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.51 | 0.63 | 0.56 | 0.59 | 0.58 | 0.57 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.61 | 2.44 | 2.29 | 2.57 | 2.67 | 2.69 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.40 | 1.53 | 1.28 | 1.51 | 1.54 | 1.53 |
| Liquidity ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Current ratio Current ratio = Total current assets / Total current liabilities | 8.63 | 9.25 | 11.27 | 7.97 | 10.97 | 6.63 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.12 | 0.11 | 0.09 | 0.13 | 0.09 | 0.15 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 7.37 | 6.98 | 8.52 | 6.96 | 7.06 | 6.65 |
| Solvency ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 24% | 12% | 12% | 18% | 14% | 16% |
Debt ratio Debt ratio = Debt / Total assets | 11% | 7% | 7% | 11% | 8% | 9% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 151% | 139% | 157% | 140% | 149% | 147% |
Financials
| Balance sheet | |||||
| Assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Cash | $14,588,447 | $15,678,700 | $15,702,535 | $14,130,756 | $14,353,028 |
| Receivables, inventories, prepaids | $2,457,054 | $2,762,122 | $2,144,328 | $1,860,783 | $2,261,151 |
| Short-term investments | $25,142,160 | $29,285,753 | $21,637,876 | $20,298,641 | $19,809,436 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $42,187,661 | $47,726,575 | $39,484,739 | $36,290,180 | $36,423,615 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $59,910,009 | $60,490,483 | $60,620,072 | $59,127,085 | $59,732,159 |
| Other long-term assets | $743,406 | $930,943 | $1,206,570 | $1,541,912 | $1,821,004 |
| Total long-term assets | $60,653,415 | $61,421,426 | $61,826,642 | $60,668,997 | $61,553,163 |
| Total assets | $102,841,076 | $109,148,001 | $101,311,381 | $96,959,177 | $97,976,778 |
| Liabilities | 2022 | 2021 | 2020 | 2019 | 2018 |
| Payables and accrued expenses | $2,882,180 | $2,621,578 | $2,394,661 | $1,633,815 | $3,245,268 |
| Other current liabilities | $1,678,532 | $1,611,887 | $2,559,485 | $1,674,942 | $2,246,265 |
| Total current liabilities | $4,560,712 | $4,233,465 | $4,954,146 | $3,308,757 | $5,491,533 |
| Debt | $7,446,698 | $7,632,849 | $11,593,115 | $8,094,345 | $8,489,881 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $655,808 | $930,580 | $1,233,205 | $1,957,052 | $1,970,782 |
| Total long-term liabilities | $8,102,506 | $8,563,429 | $12,826,320 | $10,051,397 | $10,460,663 |
| Total liabilities | $12,663,218 | $12,796,894 | $17,780,466 | $13,360,154 | $15,952,196 |
| Net assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Without donor restrictions | $68,203,147 | $72,604,274 | $64,708,141 | $65,268,380 | $63,260,832 |
| With donor restrictions | $21,974,711 | $23,746,833 | $18,822,774 | $18,330,643 | $18,763,750 |
| Net assets | $90,177,858 | $96,351,107 | $83,530,915 | $83,599,023 | $82,024,582 |
| Revenues and expenses | |||||
| Revenue | 2022 | 2021 | 2020 | 2019 | 2018 |
| Total contributions | $7,192,463 | $12,094,323 | $4,991,653 | $3,247,607 | $5,669,167 |
| Program service revenue | $54,426,317 | $55,243,036 | $54,388,263 | $53,164,538 | $50,160,253 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $1,715,392 | $3,059,358 | $1,260,615 | $1,041,446 | $1,190,297 |
| Other revenue | $131,210 | ($203,999) | ($38,225) | ($857) | $4,150 |
| Total other revenue | $56,272,919 | $58,098,395 | $55,610,653 | $54,205,127 | $51,354,700 |
| Total revenue | $63,465,382 | $70,192,718 | $60,602,306 | $57,452,734 | $57,023,867 |
| Expenses | 2022 | 2021 | 2020 | 2019 | 2018 |
| Program services | $57,791,302 | $55,087,532 | $53,775,666 | $50,822,683 | $50,708,801 |
| Management and general | $5,608,198 | $5,027,691 | $4,671,330 | $4,121,463 | $4,306,601 |
| Fundraising | $1,316,574 | $1,174,043 | $1,095,942 | $1,077,279 | $833,912 |
| Total expenses | $64,716,074 | $61,289,266 | $59,542,938 | $56,021,425 | $55,849,314 |
| Change in net assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Surplus (deficit) | ($1,250,692) | $8,903,452 | $1,059,368 | $1,431,309 | $1,174,553 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | ($1,250,692) | $8,903,452 | $1,059,368 | $1,431,309 | $1,174,553 |
Compensation
| Name | Title | Compensation |
| Henry W Spaulding | President, CEO | $267,625 |
| James W Smith | Vice President For University Relations | $168,238 |
| Scott L Campbell | Vice President For Finance, CFO | $152,529 |
| B Barnett Cochran | Vice President For Academic Affairs, CAO | $134,944 |
| Carol Dorough | Dean, School of Nursing and Health Sciences | $127,582 |
| David B Lutz | Member, Board of Trustees | $350 |
| Robert J Mahaffey | Vice-Chair, Board of Trustees | $70 |
Compensation data as of: 6/30/2022
Response from ministry
No response has been provided by this ministry.
The information below was provided to MinistryWatch by the ministry itself. It was last updated 5/24/2023. To update the information below, please email: [email protected]
History
Founded in 1968, Mount Vernon Nazarene University, in Mount Vernon, Ohio is a co-educational liberal arts university with an intentionally Christian foundation and mission.
From the very beginning, Mount Vernon Nazarene College has been alive with God-given possibility - this was a community who cared, loved, and served each other. With the help of the Church of the Nazarene and the local community, God's hand was evident from the early days as MVNC was created, designed, and shaped into existence by a people committed to God. It is into this place that God placed a vision on the hearts of our founding faculty and staff to transform an ordinary farm into an extraordinary community of believers. That calling is still heard today. We're still a part of this calling and this community - to "Shine Forth" in all we do.
Although there are Nazarenes in the student body at MVNU, there are over 40 other Christian denominations are represented on our campus. MVNU challenges students to live up to their greatest personal potential by offering a wide variety of academic programs and many opportunities for service in a student's university life.
MVNU encourages students to involve themselves in the local and international community by providing numerous opportunities for service and travel. With this distinctive global vision, the MVNU motto, "To Seek to Learn Is to Seek to Serve," continues to be fulfilled by all who walk the paths of those who have gone before us.
Mount Vernon Nazarene College Founding President Dr. Stephen W. Nease was instrumental in developing "Zone A Junior College" into Mount Vernon Nazarene College. Alongside founding faculty and staff, Nease paved the way for the initial fundraising to transform 800 Martinsburg Road from "a cornfield to a college." With Nease's official inauguration in 1969, the campus began to take shape with Founders Hall, Faculty Hall, Campus Center, student housing, the Multi-Purpose Building, and tennis courts. The Pioneer Class presented MVNC with the Eternal Flame as a gift in 1970.
Program accomplishments
MVNU is ranked in the Top 5% Best Colleges for the Money by College Factual for 2018, 2019 & 2020.
96% of MVNU graduates are employed or enrolled in advanced studies within one year of graduation.