WELLS COLLEGE
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$30,120,284
Program Services
62%
Contributions
17%
Other
15%
Government Grants
4%
Investments
3%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$37,974,374
Salaries & Benefits
35%
Grants
21%
Other
14%
Fees to Service Providers
13%
Offices, Occupancy & IT
10%
Depreciation
6%
Advertising & Promotion
2%
Interest
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$8,934,306
$4,998,509
-44%
Government Grants
$528,424
$1,159,003
+119%
Fundraising Events
$0
$0
-
Program Services
$18,394,078
$18,629,907
+1%
Membership Dues
$0
$0
-
Investments
$720,430
$890,662
+24%
Other
$1,050,243
$4,442,203
+323%
Total Revenues
$29,627,481
$30,120,284
+2%
Expenses
2023
2024
Change
Grants
$7,282,572
$7,871,635
+8%
Benefits to Members
$0
$0
-
Salaries & Benefits
$11,880,380
$13,380,882
+13%
Fees to Service Providers
$2,412,103
$4,846,357
+101%
Advertising & Promotion
$980,441
$756,703
-23%
Offices, Occupancy & IT
$2,908,287
$3,615,686
+24%
Interest
$190,094
$219,700
+16%
Depreciation
$1,953,315
$2,122,299
+9%
Other
$5,236,646
$5,161,112
-1%
Total Expenses
$32,843,838
$37,974,374
+16%
Net income
2023
2024
Change
Net income
-$3,216,357
-$7,854,090
-144%
Functional Expenses
Summary
2023
2024
Change
Program
$25,287,548
$27,323,575
+8%
Admin
$7,008,332
$10,167,688
+45%
Fundraising
$547,958
$483,111
-12%
Total Expenses
$32,843,838
$37,974,374
+16%
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