QUINNIPIAC UNIVERSITY
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$595,343,168
Program Services
86%
Other
8%
Investments
3%
Contributions
2%
Government Grants
<1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$537,208,272
Salaries & Benefits
36%
Grants
36%
Offices, Occupancy & IT
8%
Other
7%
Depreciation
6%
Fees to Service Providers
4%
Interest
3%
Advertising & Promotion
1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$13,965,832
$11,895,596
-15%
Government Grants
$9,885,220
$4,859,310
-51%
Fundraising Events
$0
$0
-
Program Services
$482,991,419
$510,784,665
+6%
Membership Dues
$0
$0
-
Investments
$17,237,062
$18,977,957
+10%
Other
$17,744,566
$48,825,640
+175%
Total Revenues
$541,824,099
$595,343,168
+10%
Expenses
2023
2024
Change
Grants
$178,485,102
$192,891,391
+8%
Benefits to Members
$0
$0
-
Salaries & Benefits
$183,252,454
$193,970,683
+6%
Fees to Service Providers
$16,979,196
$19,442,009
+15%
Advertising & Promotion
$5,039,581
$5,422,786
+8%
Offices, Occupancy & IT
$36,692,665
$41,547,472
+13%
Interest
$15,099,257
$15,384,428
+2%
Depreciation
$32,117,784
$32,364,094
+1%
Other
$33,131,531
$36,185,409
+9%
Total Expenses
$500,797,570
$537,208,272
+7%
Net income
2023
2024
Change
Net income
+$41,026,529
+$58,134,896
+42%
Functional Expenses
Summary
2023
2024
Change
Program
$436,453,425
$464,180,895
+6%
Admin
$59,076,778
$67,191,520
+14%
Fundraising
$5,267,367
$5,835,857
+11%
Total Expenses
$500,797,570
$537,208,272
+7%
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