University of Hartford
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$287,482,942
Program Services
91%
Contributions
3%
Other
2%
Investments
2%
Government Grants
2%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$297,558,474
Grants
38%
Salaries & Benefits
33%
Other
14%
Offices, Occupancy & IT
6%
Depreciation
5%
Interest
2%
Fees to Service Providers
2%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$8,837,934
$8,325,316
-6%
Government Grants
$4,871,503
$4,730,766
-3%
Fundraising Events
$0
$275,645
-
Program Services
$242,333,316
$262,710,098
+8%
Membership Dues
$0
$0
-
Investments
$5,537,477
$4,948,260
-11%
Other
$7,765,775
$6,492,857
-16%
Total Revenues
$269,346,005
$287,482,942
+7%
Expenses
2023
2024
Change
Grants
$103,015,000
$113,020,982
+10%
Benefits to Members
$0
$0
-
Salaries & Benefits
$101,254,565
$97,309,683
-4%
Fees to Service Providers
$12,847,146
$5,789,274
-55%
Advertising & Promotion
$1,181,864
$1,037,598
-12%
Offices, Occupancy & IT
$15,701,940
$17,166,162
+9%
Interest
$5,992,286
$6,284,287
+5%
Depreciation
$14,418,895
$15,406,222
+7%
Other
$37,123,172
$41,544,266
+12%
Total Expenses
$291,534,868
$297,558,474
+2%
Net income
2023
2024
Change
Net income
-$22,188,863
-$10,075,532
+55%
Functional Expenses
Summary
2023
2024
Change
Program
$248,747,106
$267,664,624
+8%
Admin
$39,004,103
$25,406,294
-35%
Fundraising
$3,783,659
$4,487,556
+19%
Total Expenses
$291,534,868
$297,558,474
+2%
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