UNION THEOLOGICAL SEMINARY
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$39,103,505
Contributions
52%
Program Services
25%
Other
14%
Investments
9%
Government Grants
<1%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$34,609,860
Salaries & Benefits
33%
Fees to Service Providers
16%
Offices, Occupancy & IT
16%
Grants
12%
Depreciation
12%
Other
9%
Interest
2%
Advertising & Promotion
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$12,979,455
$20,245,648
+56%
Government Grants
$0
$47,082
-
Fundraising Events
$0
$0
-
Program Services
$13,201,436
$9,766,940
-26%
Membership Dues
$0
$0
-
Investments
$2,674,464
$3,471,745
+30%
Other
$17,746,979
$5,572,090
-69%
Total Revenues
$46,602,334
$39,103,505
-16%
Expenses
2023
2024
Change
Grants
$3,897,209
$4,044,097
+4%
Benefits to Members
$0
$0
-
Salaries & Benefits
$12,253,481
$11,341,596
-7%
Fees to Service Providers
$5,113,726
$5,698,316
+11%
Advertising & Promotion
$133,210
$238,711
+79%
Offices, Occupancy & IT
$6,182,325
$5,599,276
-9%
Interest
$667,501
$671,185
+1%
Depreciation
$3,507,734
$4,037,486
+15%
Other
$7,154,909
$2,979,193
-58%
Total Expenses
$38,910,095
$34,609,860
-11%
Net income
2023
2024
Change
Net income
+$7,692,239
+$4,493,645
-42%
Functional Expenses
Summary
2023
2024
Change
Program
$29,942,197
$26,263,716
-12%
Admin
$7,714,256
$7,289,752
-6%
Fundraising
$1,253,642
$1,056,392
-16%
Total Expenses
$38,910,095
$34,609,860
-11%
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