Hartwick College
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$87,033,017
Program Services
78%
Contributions
14%
Other
5%
Investments
3%
Government Grants
1%
Fundraising Events
<1%
Membership Dues
0%
Expenses in 2024
$94,270,806
Grants
40%
Salaries & Benefits
29%
Other
16%
Depreciation
5%
Offices, Occupancy & IT
5%
Interest
2%
Fees to Service Providers
2%
Advertising & Promotion
2%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$4,046,952
$12,104,805
+199%
Government Grants
$990,230
$1,132,932
+14%
Fundraising Events
$19,467
$20,311
+4%
Program Services
$68,274,096
$67,511,817
-1%
Membership Dues
$0
$0
-
Investments
$1,988,836
$2,242,837
+13%
Other
$7,557,603
$4,020,315
-47%
Total Revenues
$82,877,184
$87,033,017
+5%
Expenses
2023
2024
Change
Grants
$38,552,963
$37,999,833
-1%
Benefits to Members
$0
$0
-
Salaries & Benefits
$27,590,070
$27,522,475
0%
Fees to Service Providers
$1,067,137
$1,578,495
+48%
Advertising & Promotion
$1,554,239
$1,522,835
-2%
Offices, Occupancy & IT
$5,014,363
$4,268,281
-15%
Interest
$1,669,292
$1,629,776
-2%
Depreciation
$4,463,500
$4,280,712
-4%
Other
$15,380,124
$15,468,399
+1%
Total Expenses
$95,291,688
$94,270,806
-1%
Net income
2023
2024
Change
Net income
-$12,414,504
-$7,237,789
+42%
Functional Expenses
Summary
2023
2024
Change
Program
$90,067,873
$88,123,790
-2%
Admin
$3,569,815
$4,352,411
+22%
Fundraising
$1,654,000
$1,794,605
+9%
Total Expenses
$95,291,688
$94,270,806
-1%
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