UMass Memorial Health Care Inc (Parent)
Income Statement
Fiscal Year Start:
Oct 1
Revenues in 2024
$692,531,729
Program Services
87%
Government Grants
6%
Investments
6%
Contributions
1%
Other
<1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$684,274,355
Salaries & Benefits
38%
Fees to Service Providers
21%
Offices, Occupancy & IT
17%
Other
11%
Depreciation
7%
Interest
5%
Grants
<1%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$3,157,185
$7,089,530
+125%
Government Grants
$49,563,669
$40,964,255
-17%
Fundraising Events
$510,205
$428,238
-16%
Program Services
$478,750,413
$603,858,570
+26%
Membership Dues
$0
$0
-
Investments
$31,180,084
$39,541,643
+27%
Other
$494,801
$649,493
+31%
Total Revenues
$563,656,357
$692,531,729
+23%
Expenses
2023
2024
Change
Grants
$939,052
$6,213,198
+562%
Benefits to Members
$0
$0
-
Salaries & Benefits
$232,244,808
$259,315,683
+12%
Fees to Service Providers
$114,412,318
$144,120,212
+26%
Advertising & Promotion
$4,198,928
$2,314,276
-45%
Offices, Occupancy & IT
$93,972,393
$115,796,832
+23%
Interest
$21,264,790
$36,450,741
+71%
Depreciation
$38,962,566
$47,662,206
+22%
Other
$32,980,574
$72,401,207
+120%
Total Expenses
$538,975,429
$684,274,355
+27%
Net income
2023
2024
Change
Net income
+$24,680,928
+$8,257,374
-67%
Functional Expenses
Summary
2023
2024
Change
Program
$482,543,128
$600,169,016
+24%
Admin
$52,570,901
$80,446,203
+53%
Fundraising
$3,861,400
$3,659,136
-5%
Total Expenses
$538,975,429
$684,274,355
+27%
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