A historic milestone for Olivet Nazarene University happened in 2025. More than $2 million in endowed scholarships are being awarded to students for the first time ever.
“This milestone reflects both the University’s deep commitment to affordability and the extraordinary generosity of our Olivet community,” says Walter “Woody” Webb, executive director of the ONU Foundation. “These scholarships are managed for long-term growth through the Foundation.”
Endowed scholarships are available to undergraduate students who are sophomores through seniors. Each year, students apply online in late February through a streamlined digital process.
A Brief Overview
Since 2005, the amount awarded annually through endowed scholarships has doubled. These scholarships help students stay in school, graduate and thrive. Endowed scholarships not only reduce financial barriers for students, but also offer students meaningful encouragement and affirmation along their academic journey.
“The impact of endowed scholarships and program funds on our students cannot be overstated,” Webb says. “These gifts transform lives, sustain academic excellence and ensure that Olivet remains a place where God’s providence and generosity continue to shape the future.”
In just the past 10 years, the number of scholarship endowments exceeding $100,000 has more than doubled with nine endowments now surpassing $1 million. Total scholarship endowment dollars held in the Foundation have increased by $47 million, rising from $27.2 million in 2015 to $74.1 million in 2025.
During that same period, non-scholarship program endowments — which fund academic chairs, professorships, lecture series, chapel programs and research opportunities — have increased dramatically, from $2 million in 2015 to $10 million in 2025.
In 2024 alone, Olivet celebrated $3 million in gifts for program endowments, including funding for The Kochersperger Endowed Chair for the Department of Engineering. These investments reflect a growing interest among donors in creating lasting, mission-aligned support for both students and academic programs.
Recent examples of endowed program support include:
- The Max and Carol Reams Professorship for Geosciences, which is projected to become an endowed chair within the next seven to eight years, pending additional funding and investment growth.
- The Dr. Bruce Vogel Endowment, benefitting pre-med and pre-dental students, is another powerful example of how non-scholarship endowments strengthen the University’s mission.
- The Pence-Boyce Fund for Advanced Research
- The Catalyst Fund for STEM Assistance
These endowments enhance the quality of the Olivet experience and play a critical role in the University’s success and growth.
In 2026, the Foundation will distribute $550,000 for program and academic support, in addition to the $2 million-plus in scholarships.
A New Opportunity for New Endowments
Also in 2026, newly established scholarships of $25,000 will receive an additional $5,000 boost from the ONU Foundation, providing even greater impact for students from the very start.
Individuals are encouraged to establish new scholarships or program endowments, or to contribute to existing ones, at any time. The Foundation’s continued growth ensures that the University remains steadfast in its mission to provide transformative Christian higher education, supported by the faith, generosity, and commitment of the Olivet community.
Learn more about supporting Olivet through an Endowment by emailing Walter “Woody” Webb at wwebb@olivet.edu or calling him at 815-939-5228.
