NORWICH UNIVERSITY
Income Statement
Fiscal Year Start:
Jun 1
Revenues in 2024
$198,906,593
Program Services
72%
Government Grants
14%
Contributions
8%
Other
4%
Investments
2%
Fundraising Events
<1%
Membership Dues
<1%
Expenses in 2024
$198,496,012
Grants
42%
Salaries & Benefits
31%
Other
13%
Depreciation
5%
Fees to Service Providers
4%
Offices, Occupancy & IT
4%
Interest
2%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$10,661,337
$16,104,812
+51%
Government Grants
$16,393,170
$27,081,434
+65%
Fundraising Events
$485,018
$276,809
-43%
Program Services
$147,234,898
$142,516,113
-3%
Membership Dues
$23,449
$26,323
+12%
Investments
$3,436,407
$4,805,469
+40%
Other
$14,426,019
$8,095,633
-44%
Total Revenues
$192,660,298
$198,906,593
+3%
Expenses
2023
2024
Change
Grants
$71,388,830
$83,016,849
+16%
Benefits to Members
$0
$0
-
Salaries & Benefits
$62,666,606
$61,620,650
-2%
Fees to Service Providers
$16,598,995
$7,474,177
-55%
Advertising & Promotion
$389,216
$1,241,570
+219%
Offices, Occupancy & IT
$7,941,039
$7,390,644
-7%
Interest
$3,114,931
$3,029,885
-3%
Depreciation
$9,224,188
$9,263,899
+0%
Other
$25,201,221
$25,458,338
+1%
Total Expenses
$196,525,026
$198,496,012
+1%
Net income
2023
2024
Change
Net income
-$3,864,728
+$410,581
-111%
Functional Expenses
Summary
2023
2024
Change
Program
$174,076,684
$173,588,709
0%
Admin
$18,567,381
$21,342,036
+15%
Fundraising
$3,880,961
$3,565,267
-8%
Total Expenses
$196,525,026
$198,496,012
+1%
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