SPRINGFIELD COLLEGE
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$158,203,206
Program Services
89%
Government Grants
4%
Contributions
3%
Investments
3%
Other
<1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$166,197,029
Grants
37%
Salaries & Benefits
35%
Offices, Occupancy & IT
9%
Other
8%
Depreciation
5%
Fees to Service Providers
2%
Interest
2%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$5,276,900
$4,651,885
-12%
Government Grants
$6,306,860
$6,689,081
+6%
Fundraising Events
$28,375
$33,175
+17%
Program Services
$141,890,828
$141,534,450
0%
Membership Dues
$0
$0
-
Investments
$4,625,797
$4,096,230
-11%
Other
-$3,222,511
$1,198,385
-137%
Total Revenues
$154,906,249
$158,203,206
+2%
Expenses
2023
2024
Change
Grants
$60,777,026
$62,290,329
+2%
Benefits to Members
$0
$0
-
Salaries & Benefits
$59,443,312
$58,655,968
-1%
Fees to Service Providers
$4,261,387
$3,799,256
-11%
Advertising & Promotion
$835,994
$966,586
+16%
Offices, Occupancy & IT
$14,723,823
$14,849,849
+1%
Interest
$3,265,818
$3,067,159
-6%
Depreciation
$7,750,778
$8,510,780
+10%
Other
$14,089,548
$14,057,102
0%
Total Expenses
$165,147,686
$166,197,029
+1%
Net income
2023
2024
Change
Net income
-$10,241,437
-$7,993,823
+22%
Functional Expenses
Summary
2023
2024
Change
Program
$154,567,239
$155,538,351
+1%
Admin
$7,631,517
$7,611,622
0%
Fundraising
$2,948,930
$3,047,056
+3%
Total Expenses
$165,147,686
$166,197,029
+1%
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