COUNCIL OF INDEPENDENT COLLEGES
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$19,879,223
Contributions
36%
Membership Dues
23%
Investments
15%
Other
12%
Program Services
12%
Government Grants
0%
Fundraising Events
0%
Expenses in 2024
$17,660,980
Salaries & Benefits
31%
Grants
27%
Other
18%
Fees to Service Providers
17%
Offices, Occupancy & IT
6%
Depreciation
<1%
Advertising & Promotion
<1%
Interest
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$7,431,706
$7,233,513
-3%
Government Grants
$0
$0
-
Fundraising Events
$0
$0
-
Program Services
$1,847,504
$2,476,919
+34%
Membership Dues
$4,297,484
$4,622,951
+8%
Investments
$2,414,411
$3,068,472
+27%
Other
$314,743
$2,477,368
+687%
Total Revenues
$16,305,848
$19,879,223
+22%
Expenses
2023
2024
Change
Grants
$4,923,570
$4,793,317
-3%
Benefits to Members
$0
$0
-
Salaries & Benefits
$5,490,543
$5,388,559
-2%
Fees to Service Providers
$2,769,890
$2,984,868
+8%
Advertising & Promotion
$11,060
$25,713
+132%
Offices, Occupancy & IT
$1,100,547
$1,138,146
+3%
Interest
$0
$1,329
-
Depreciation
$57,393
$96,062
+67%
Other
$2,745,409
$3,232,986
+18%
Total Expenses
$17,098,412
$17,660,980
+3%
Net income
2023
2024
Change
Net income
-$792,564
+$2,218,243
-380%
Functional Expenses
Summary
2023
2024
Change
Program
$13,220,243
$13,662,909
+3%
Admin
$2,700,770
$2,753,140
+2%
Fundraising
$1,177,399
$1,244,931
+6%
Total Expenses
$17,098,412
$17,660,980
+3%
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