WESTERN NEW ENGLAND UNIVERSITY
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$181,681,554
Program Services
92%
Other
5%
Contributions
1%
Government Grants
<1%
Investments
<1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$188,395,525
Salaries & Benefits
40%
Grants
38%
Fees to Service Providers
6%
Offices, Occupancy & IT
6%
Other
4%
Depreciation
4%
Interest
2%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$2,035,682
$1,982,048
-3%
Government Grants
$1,650,255
$1,448,997
-12%
Fundraising Events
$44,110
$24,736
-44%
Program Services
$162,336,815
$167,176,054
+3%
Membership Dues
$0
$0
-
Investments
$920,759
$1,267,062
+38%
Other
$2,838,027
$9,782,657
+245%
Total Revenues
$169,825,648
$181,681,554
+7%
Expenses
2023
2024
Change
Grants
$62,183,657
$70,650,572
+14%
Benefits to Members
$0
$0
-
Salaries & Benefits
$68,689,819
$75,513,178
+10%
Fees to Service Providers
$11,404,253
$11,589,027
+2%
Advertising & Promotion
$1,273,977
$1,146,588
-10%
Offices, Occupancy & IT
$10,249,607
$10,546,996
+3%
Interest
$4,256,595
$4,171,350
-2%
Depreciation
$6,832,460
$7,183,345
+5%
Other
$6,888,492
$7,594,469
+10%
Total Expenses
$171,778,860
$188,395,525
+10%
Net income
2023
2024
Change
Net income
-$1,953,212
-$6,713,971
-244%
Functional Expenses
Summary
2023
2024
Change
Program
$151,708,461
$167,333,934
+10%
Admin
$18,982,604
$19,498,759
+3%
Fundraising
$1,087,795
$1,562,832
+44%
Total Expenses
$171,778,860
$188,395,525
+10%
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