MERRIMACK COLLEGE
MERRIMACK COLLEGE
MERRIMACK COLLEGE
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$323,088,151
Program Services
90%
Other
5%
Contributions
3%
Government Grants
2%
Investments
2%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$301,533,780
Grants
40%
Salaries & Benefits
30%
Other
13%
Offices, Occupancy & IT
7%
Fees to Service Providers
5%
Depreciation
3%
Interest
2%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$9,127,591
$8,671,962
-5%
Government Grants
$3,742,207
$5,308,961
+42%
Fundraising Events
$149,637
$104,260
-30%
Program Services
$270,164,815
$289,363,215
+7%
Membership Dues
$0
$0
-
Investments
$3,174,363
$4,847,067
+53%
Other
$4,883,578
$14,792,686
+203%
Total Revenues
$291,242,191
$323,088,151
+11%
Expenses
2023
2024
Change
Grants
$111,425,791
$119,501,639
+7%
Benefits to Members
$0
$0
-
Salaries & Benefits
$82,939,823
$90,567,976
+9%
Fees to Service Providers
$13,841,498
$14,749,551
+7%
Advertising & Promotion
$1,681,642
$1,892,940
+13%
Offices, Occupancy & IT
$18,989,069
$19,788,098
+4%
Interest
$5,315,831
$5,355,166
+1%
Depreciation
$9,003,025
$9,896,622
+10%
Other
$35,317,559
$39,781,788
+13%
Total Expenses
$278,514,238
$301,533,780
+8%
Net income
2023
2024
Change
Net income
+$12,727,953
+$21,554,371
+69%
Functional Expenses
Summary
2023
2024
Change
Program
$254,301,882
$273,937,275
+8%
Admin
$21,200,741
$25,220,317
+19%
Fundraising
$3,011,615
$2,376,188
-21%
Total Expenses
$278,514,238
$301,533,780
+8%
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